Gabriel India Ltd. Q2 FY27 results

The quarter, explainedfrom the filing and the statements

Gabriel India Ltd. reported revenue of ₹1,608 cr for July to September 2026, +22.9% on the year and +12.8% on the quarter. That is in line with how this quarter has grown in recent years (+23.1% on average). It is the highest quarterly revenue in the last 12 quarters on record. Over the last four quarters revenue comes to ₹5,594 cr, +20.8% on the four before.

Operating profit (EBITDA) was ₹141 cr, a margin of 8.8%, −86 bps on the year and +5 bps on the quarter. Over the last 8 quarters the margin has ranged from 8.7% to 10.2%, averaging 9.3%. Operating costs grew +24.1%, faster than revenue at +22.9%, so operating profit grew less than sales.

Net profit was ₹124 cr, +15.8% on the year and +14.6% on the quarter, with earnings per share of ₹6.80. Profit before other income, one-offs and tax grew 14.9%, so the profit growth came from the business itself. The tax rate was 16% against an average of 21% over the previous 8 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹406 cr, +20.8% on the four before.

Of the 31 companies in Automobiles and components that have reported Q2 FY27 so far, Gabriel India Ltd. ranks 22nd on revenue growth; the sector median is +31.5%. Its margin moved −86 bps on the year against a sector median of −135 bps.

A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models.

On earnings per share of ₹24.88 over the last four quarters, the stock at ₹1,420.20 trades at 57.1 times trailing earnings.

Questions to askeach one with its numbers and source

Could not run on this quarter: Exceptional items that recur, Related-party transactions, Promoter pledges and allotments, Earlier promises against delivery. The filing did not carry these lines.

Where the profit change came fromSep '25 → Sep '26

Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.

The half year: balance sheet and cashfiled with Q2

Operating cash flow was 0.48× profit. Receivables at 59 days of sales (+4 days against the last year end). Inventory at 31 days of sales (−2 days).

From the filingauditor, IPO money, related parties, promoters

Inside the profitother income, one-offs, tax

Other income, line by line

• Interest income on Fixed deposit with banks and financial asset (6M consolidated): 2.93 crore (recurring)consolidated cash flow statement
• Gain on sale of investments (6M consolidated): 3.99 crore (recurring)consolidated cash flow statement
• Rental income (6M consolidated): 0.25 crore (recurring)consolidated cash flow statement

Tax: Consolidated tax expense of ₹24.20 crore (current tax ₹26.19 crore, deferred tax credit ₹1.94 crore, prior period tax credit ₹0.05 crore) on Profit before tax of ₹148.17 crore

Auto vitalsthe numbers this business is run on

Worked out from filed numbers. Auto Components and Parts Revenue: Consolidated revenue from operations (₹16,079.96 million converted to ₹ crore)

What management saidquoted, with source

• The Board of Directors in their meeting held on October 30, 2026 declared an interim dividend of Rs. 2.15 per share for the period ended September 30, 2026.press release, outcome letter p.1
• The Company raised funds through the issuance of unsecured, listed, non-convertible debentures (NCDs) on a private placement basis, aggregating up to Rs. 10,000 millions.press release, consolidated note 6
• Approved acquisition of 28.99% equity stake on HL Mando Anand India Private Limited equivalent to 48,134,427 equity shares from Asia Investments Private Limitedpress release, consolidated note 7

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