Gabriel India (505714) Q2 25/26 earnings summary

Executive summary

• Achieved strong revenue and profit growth in Q2 and H1 FY26, with double-digit year-over-year increases across key financial metrics.

• Expanded through strategic JVs, acquisitions, and business restructuring to diversify product offerings and global presence, including JVs with SK Enmove, Inalfa, and JINHAP Korea.

• Focused on sustainability, R&D, and technological advancement, with ongoing patent filings and multiple awards.

• Interim dividend of Rs. 1.90 per share declared for H1 FY26.

Financial highlights

• Standalone Q2 FY26 operating revenue grew 15.4% YoY to INR 2,066 crore; H1 FY26 standalone revenue at INR 2,050.63 crore, up 14.7% YoY.

• Consolidated H1 FY26 revenue at INR 2,278.7 crore, up 15.5% YoY; consolidated EBITDA up 18.6% YoY to INR 224.6 crore.

• Standalone EBITDA for H1 FY26 rose 17.8% YoY to INR 186.2 crore, margin at 9.1%.

• Net cash position at INR 289.6 crore as of Sep-25; capex of INR 108 crore in H1 FY26.

• Interim dividend of Rs. 1.90 per share declared, with record date November 21, 2025.

Outlook and guidance

• Demand momentum expected to continue in H2 FY26, supported by festive season and stable macro conditions.

• Strategic focus on global top-5 position in shock absorber manufacturing and expansion through JVs in sunroof systems, fasteners, and lubricants.

• Sunroof business revenue target of INR 1,000 crore by 2030 may be delayed by 1–2 years.

• Commercialization of new JVs expected to begin in FY27, with significant numbers from FY28.

• Manufacturing of solar dampers expected from Q1FY27.