Gabriel India (505714) Q4 24/25 earnings summary

Executive summary

• Standalone operating revenue for FY25 rose 9% YoY to INR 36,433 Mn, with PAT at INR 2,119 Mn and ROIC at 34%.

• Consolidated revenue reached INR 40,634 Mn, up 19.4% YoY, with consolidated PAT at INR 2,450 Mn.

• Q4 FY25 standalone revenue grew 8.4% YoY to INR 931 crores, with EBITDA up 13% YoY and margin at 9.3%.

• Board recommended a final dividend of Rs. 2.95 per share, with total annual payout at 32%.

• Auditors issued unmodified opinions on both standalone and consolidated financial statements.

Financial highlights

• FY25 standalone revenue: INR 36,433 Mn (+9% YoY); EBITDA margin: 8.9%; PAT: INR 2,119 Mn.

• FY25 consolidated revenue: INR 40,634 Mn (+19.4% YoY); EBITDA margin: 9.6%; PAT: INR 2,450 Mn.

• Q4 FY25 standalone revenue: INR 931 crores (+8.4% YoY); EBITDA: INR 87 crores (+13% YoY); margin: 9.3%.

• Net cash position at INR 3,084 Mn at FY25 end; capex of INR 1,281 Mn in FY25.

• Dividend payout ratio at 32% for FY25.

Outlook and guidance

• Solar damper business expected to generate INR 200+ crores revenue in next two years, with production starting end of CY25.

• Sunroof business capacity to double by H2 CY25; utilization currently at 75-78%.

• Targeting top 5 global position in shock absorber manufacturing.

• CapEx guidance for FY26: INR 100-150 crores (standalone, excluding sunroof); Inalfa sunroof CapEx: INR 50-100 crores.

• The joint venture with Inalfa Roof Systems B.V. did not receive regulatory approval and is under evaluation.