GABRIEL
Large CapGabriel India Limited
Auto
Gabriel India Limited is an Indian auto ancillary company manufacturing shock absorbers, struts, and front forks for 2W/3W, Passenger Vehicle, and Commercial Vehicle segments. The company is expanding into new mobility solutions like e-bike components and solar dampers, and through JVs in sunroofs, fasteners, and lubricants.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Bad · 22/100margin compression · Rev +13% YoY · PAT +3% YoY
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,210 Cr | +12.8% | +2.6% |
| EBITDA | ₹113 Cr | +3.7% | +5.6% |
| Operating margin | 9.0% | -100 bps | +0 bps |
| PAT | ₹66 Cr | +3.1% | +20.0% |
| PAT margin | 5.5% | -51 bps | +79 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Q3 FY26 standalone revenue grew 15.9% YoY to Rs. 10,716 Mn, with EBITDA up 21.0% YoY to Rs. 961 Mn (9.0% margin). PBT increased 33.3% YoY to Rs. 943 Mn (8.8% margin). Consolidated revenue grew 15.9% YoY to Rs. 11,787 Mn, with EBITDA up 19.6% YoY to Rs. 1,106 Mn (9.4% margin).
Gabriel India delivered strong Q3 FY26 results with double-digit YoY growth in both standalone and consolidated revenue and profitability. The company is actively pursuing diversification through new product lines (e-bikes, solar dampers) and strategic JVs, which could reduce product concentration risk and open new growth avenues. Domestic market share remains robust across segments.
Revenue by Segment (Q3 FY26)
Latest issuer-disclosed distribution across 4 reported categories.
New Mobility Solutions
Advancing into e-bikes with Upside Down Fork Technology and Dropper Post. Entry into solar dampers with 3 customer orders, manufacturing expected from Q1 FY27.
Strategic Joint Ventures
JV with Inalfa for sunroofs (IGSSPL), JINHAP for fasteners, and SK Enmove for lubricants and functional fluids, leveraging OEM customer base and aftermarket channel.
Domestic Market Leadership
Maintained 32% market share in 2W/3W, 25% in PV, and 87% in CV segments for 9M FY26, with strong traction in Utility Vehicles.
Aftermarket Expansion
Achieved 10.7% YoY sales growth in 9M FY26, launched new product lines and 215 SKUs, focusing on B & C class towns and Latin American, Australian & African export markets.
Chakan 2 Plant Acquisition
Acquired additional capacity of 3.2 Mn shock absorbers and 1 Mn gas springs from MMAS, completed on April 1, 2025.
IGSSPL Sunroof Manufacturing
Second line of another 200,000 units became operational from H2 FY26 at the Chennai plant.
Solar Damper Manufacturing
Manufacturing of solar dampers is expected from Q1 FY27.
Strong Domestic Demand
Strong demand from key 2W/3W customers and strong traction in Utility Vehicles segment are driving sales growth.
Growing Sunroof Market
Domestic sunroof industry is expected to grow at a CAGR of 16% (FY24-27), benefiting the IGSSPL JV.
Rising CV Demand
Rising demand for cabin dampers is a key driver for Commercial Vehicle segment sales growth.
Regulatory Approvals for JV
Execution of the Revised JV Agreement for IGSSPL is subject to obtaining requisite regulatory approvals.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
YoY comparison is crucial for understanding the underlying growth trends and accounting for seasonality in the auto sector. QoQ comparison is relevant to assess sequential momentum, especially given the slight sequential growth in standalone results and slight decline in consolidated figures.
2W/3W Sales Growth (9M FY26)
Sales grew 13.3% YoY, driven by strong demand from key customers.
Passenger Vehicle Sales Growth (9M FY26)
Sales grew 14.5% YoY, mainly due to strong traction in Utility Vehicles.
Commercial Vehicle Sales Growth (9M FY26)
Sales grew 35.4% YoY, driven by rising demand for cabin dampers.
EBITDA Margin (Q3 FY26 Standalone)
EBITDA margin stood at 9.0% in Q3 FY26, up from 8.6% in Q3 FY25.
IGSSPL Revenue Aspiration
Management aspires to hit Rs. 10 Bn in revenues from Inalfa Gabriel Sunroof Systems Private Limited (IGSSPL) by 2030.
Business Restructuring Benefits
The proposed scheme aims to consolidate automotive businesses under Gabriel, expecting an EPS accretion of ~41% for FY25 and improved cashflows.
Sustainability Targets
The company aims to be carbon & water neutral by 2027 with zero waste to landfill.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Net Working Capital Days | 30 days (Q3 FY26) | Reversion to normalized levels, as company expects this to happen in a quarter. |
| IGSSPL JV Regulatory Approvals | Subject to obtaining requisite approvals | Completion of regulatory approvals for the revised JV agreement and subsequent equity infusion by Inalfa. |
| New JV Progress | JINHAP (fasteners) and SK Enmove (lubricants) JVs announced | Completion of transactions and initial operational performance and revenue contribution from these new joint ventures. |
| Solar Damper Manufacturing | Manufacturing expected from Q1 FY27 | Timely commissioning and ramp-up of solar damper manufacturing and order fulfillment. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
55NeutralSMA20 +10.9% / mo
Technical chart
GABRIELdaily · 3Y-16.6%Technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 49. Wait for confirmation.
- SMA20 rising (~3.8% over last month) — short-term momentum positive.
- RSI(14) at 49 — sideways, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 18% off 52W high · 32% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 20/25 to the score.
- Quality contributes 13/20 to the score.
Main drags
- Fair-value margin of safety is negative at -82.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 5/10; verify the latest quarterly trend.
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 95th percentile of the scored universe and 90th percentile within Auto. No major sub-score weakness stands out.
High Trust Lite: Promoter holding is 55%.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · Auto: 90th pctile, median 71 · Large: 84th pctile, median 74
104 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 55%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.7%.
- ▸ROCE is 26.1%.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 53.70
- P/B
- 10.29
- EV/EBITDA
- 26.47
- Market Cap
- 14094.00Cr
Profitability
- ROE
- 20.60%
- ROCE
- 26.10%
- ROA
- 10.37%
- Dividend Y
- 0.48%
Growth (CAGR)
- Revenue 5Y
- 50.00%
- EPS 5Y
- 50.00%
- Revenue 3Y
- 76.00%
- EPS 3Y
- 76.00%
Balance Sheet
- Debt/Equity
- 0.11
- Interest Coverage
- 31.29×
- Altman Z
- 9.50
- Book Value
- 95.30
Cash Flow
- FCF Yield
- 0.69%
- FCF Positive Y
- 3/5
- OCF
- 345.00 Cr
- EPS TTM
- 17.55
Shareholding
- Promoter Hold
- 55.02%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 50%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.