The shares of the premier manufacturer and distributor of Ride Control Products, surged by 3.7% to reach ₹400 after reporting 56% year-on-year profit growth.
At 12:15 p.m., Gabriel India Ltd shares were trading at ₹392.45 per share, up 1.72 % on the National Stock Exchange from the previous close price. The company has a market capitalization of ₹5,644 crore.
As per the company’s filing, Profit After Tax (PAT) for Q4 FY24 stood at ₹ 53 crores, representing a 56% increase from ₹ 34 crores in the same period last year. On an annual basis, PAT rose by 40% to ₹185 crores from ₹132 crores in FY23.
Revenue from operations for Q4 FY24 amounted to ₹737 crores, reflecting a 16% growth compared to ₹859 crores in the same period last year.
Profit Before Tax (PBT) for Q4 FY24 was ₹70 crores, a substantial increase of 18 % from ₹59.3 crores in Q3 FY24.
Annual revenue for FY24 was ₹3,343 crores, marking a notable 12% increase from ₹2,972 crores in FY23.
Gabriel India Ltd has showcased impressive growth in its financials over the past year. The company’s net worth saw a significant rise, climbing from ₹8,703 crore in FY23 to ₹10,086 crore in FY24. And net profit margin surged to 6.1% in Q4FY24 from 4.6% in Q4FY23.
Furthermore, the company maintained a strong financial position, with net cash amounting to Rs. 299.5 crore as of March 2024. Despite a slight increase in net working capital days to 20 compared to 18 in the previous year, the company demonstrated prudent financial management. Additionally, Gabriel invested Rs. 83 crore in capital expenditure for FY24.
Gabriel India Ltd stands out as a premier producer and supplier of top-tier Ride Control Products, including shock absorbers, struts, and front forks, catering to both passenger and commercial vehicles within the Indian Automotive Industry.
Notably, Gabriel holds a leading position in the Indian market for suspension components, boasting a 31% market share in the 2-wheeler and 3-wheeler categories, 23% in the passenger vehicle segment, and an impressive 89% in the commercial vehicle category.
The company is also at the forefront of manufacturing shock absorbers for next-generation vehicles, particularly in the 2 & 3-wheeler segments, including Electric Vehicles (EVs).
Moreover, Gabriel has embarked on product design collaborations with prominent EV OEMs such as OLA Electric, Okinawa, Ather Energy, TVS, Bajaj, M&M, and Tube Investment, strengthening its foothold in the burgeoning EV market segments.
To augment its product development prowess, the company has forged enduring technological partnerships with global giants such as Yamaha Motor Hydraulic System Co Ltd, KYB Spain, and Kayaba Industry Co.
Gabriel has introduced 291 new SKUs in FY23-24 alone, with a remarkable total of more than 1336 SKUs launched over the past five years.
Written by Omkar Chitnis
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