ICICI Direct: Gabriel India - Subdued Q1 Performance; Valuations Appear Fair

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Gabriel India Ltd. reported muted Q1 FY21 results tracking approximately 70% decline in auto original equipment manufacturer (OEM) volumes during the Covid-19 impacted quarter.Net sales declined 76.2% YoY to Rs 123 crore. Loss at Ebitda level was at Rs 17.1 crore, with gross margins improving approximately 120 basis points QoQ to approximately 29.5%. Loss after tax for the quarter came in at Rs 23.8 crore versus profit of Rs 22.1 crore in the base quarter.Gabriel India is domestic market leader in automotive suspension segment (comprising products like front forks, shock absorbers, struts) commanding 25% market share in two-wheeler, 15% in private vehicles and 75% in commercial vehicles and railways). The three divisions formed 67%, 20%, 12% of revenues in FY20, respectively.In months following Covid-19, domestic two-wheeler space has been doing relatively well, with dispatches at key OEMs ramping up in response to improving demand..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ICICI Direct: Gabriel India - Subdued Q1 Performance; Valuations Appear Fair

ICICI Direct: Gabriel India - Subdued Q1 Performance; Valuations Appear Fair

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