Gabriel India (505714) Q1 24/25 earnings summary

Executive summary

• Q1 FY25 revenue reached Rs. 8,642.34 million (INR 864 crores), up 7.3% year-over-year, with EBITDA margin at 9% and PBT margin at 8%.

• EBITDA grew 13% and PBT nearly 20% year-over-year, with net cash position at Rs. 3,271 million (INR 330 crores), including loans to the sunroof venture.

• CapEx for the quarter was Rs. 302 million (INR 30 crores), and the company continues to focus on cost control, margin improvement, and sustainability.

• The company maintains a balanced portfolio across two-wheelers, passenger cars, commercial vehicles, railways, and aftermarket channels.

• Unaudited standalone and consolidated financial results for Q1 FY25 were approved by the Board and reviewed by statutory auditors with unmodified opinions.

Financial highlights

• Standalone revenue for Q1 FY25 was Rs. 8,642.34 million, up from Rs. 8,057.68 million in Q1 FY24, with consolidated revenue at Rs. 9,465.72 million.

• EBITDA: Rs. 780 million (9.0% margin), up from Rs. 690 million (8.6%) in Q1 FY24.

• PBT: Rs. 691.09 million (8.0% margin), up from Rs. 576.88 million (7.2%) in Q1 FY24.

• PAT: Rs. 512 million, up 20.4% year-over-year; consolidated PAT at Rs. 571.09 million.

• EPS: Rs. 3.6 (standalone), Rs. 4.01 (consolidated), both up year-over-year.

Outlook and guidance

• Management expects moderation in industry growth after several strong years, with a cautious approach ahead.

• Focus on expanding exports, increasing presence in Latin America, Africa, and North America.

• Targeting to be among the top 5 global shock absorber manufacturers by 2025 and achieve carbon and water neutrality by 2025.

• The company is assessing the impact of the Code on Social Security, 2020, and will record any related impact when it becomes effective.

• Passenger vehicle industry growth expected at 4%-6% for FY25, though some analysts predict a flat year depending on festive season demand.