The shares of the small-cap company, specializing in manufacturing ride control products for the automotive industry, including shock absorbers, struts, and front forks, are in focus as it enters into Renewable market, as mentioned in the company’s November update.
With a market capitalization of 14,654.55 Crores on Friday, the shares of Gabriel India Ltd jumped upto 4.9 percent, reaching a high of Rs. 1107.40 compared to its previous close of Rs. 1054.35.
Gabriel India Ltd at a Glance
Gabriel India Limited is the flagship company of the ANAND Group, founded in 1961, and is a leading Indian manufacturer of ride control products for the automotive industry, including shock absorbers, struts, and front forks.
It serves original equipment manufacturers (OEMs), the aftermarket, and exports to six continents, with a significant presence in segments like two- and three-wheelers, passenger cars, commercial vehicles, and railways. The company is known for its strong R&D capabilities and has technical collaborations with international companies like KYB Corporation and KONI B.V.
Expansion plans
As solar energy continues to play a crucial role in the global shift towards sustainable practices. The company enters into the renewable market by adding solar damper, Solar trackers, and other related technologies to its product offerings.
Solar trackers are devices that orient solar panels toward the sun and are essential for maximizing energy capture and improving the efficiency of power generation. Dampers play a crucial role in these systems by reducing motion, preventing structural damage, and ensuring stable tracker operation.
The global solar damper market, valued at USD 326 million in 2025, is projected to grow at a CAGR of 14.9% between 2025 and 2030. Gabriel has already secured orders from two export customers and one domestic customer, with SOP achieved for the domestic project and samples developed for export clients.
Revenue Mix & Channel Mix
In Q2FY26, the segment mix shows that 2W/3W contributed 64% of revenue, slightly higher than 62% in Q1FY26. The Passenger Car (PC) segment saw a marginal decline from 24% to 23%, while Commercial Vehicles (CVR) remained steady at 12–13%. Trading continued to contribute a minimal 1% share in both quarters. This indicates a modest improvement in the 2W/3W segment’s share, reflecting stronger performance in this category.
In terms of channel mix, the share of OEM revenue slightly decreased from 13% in Q1FY26 to 11% in Q2FY26, while the Replacement channel grew from 87% to 89%. This shift highlights continued strength in the aftermarket segment, suggesting stable demand in replacement sales compared to OEM supplies.
2W/3W (Including Aftermarket):
- Total sales contribution: 63% of overall sales
- Top customers: TVS, Honda Motorcycle and Scooters India, Yamaha
- Market share: 32%
Passenger Vehicles (Including Aftermarket):
- Total sales contribution: 23% of overall sales
- Top customers: Maruti Suzuki India Limited, Mahindra & Mahindra Limited, Skoda, Volkswagen
- Market share: 24%
Commercial Vehicles (Including Aftermarket and Railways):
- Total sales contribution: 13% of overall sales
- Top customers: Tata Motors Limited, Mahindra & Mahindra Limited, Ashok Leyland.
- Market share: 88%
Financials & Others
The company’s revenue rose by 14.92 percent from Rs. 1,027 crore to Rs. 1,180 crore in Q2FY26. Meanwhile, the Net profit rose from Rs. 63 crores to Rs. 69 crores during the same period.
The company is almost debt-free, with a debt-to-equity ratio of just 0.01, reflecting strong financial stability. It has delivered impressive performance with a profit growth of 20% CAGR over the last five years, showcasing consistent business expansion and efficient operations.
It continues to generate strong returns, with a ROCE of 26.1% and ROE of 19.4%, indicating effective use of capital. The company also maintains a healthy dividend payout of 30.2%, demonstrating a balanced approach between rewarding shareholders and reinvesting for growth.
Written by Sridhar J
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