Gabriel India, a manufacturer of shock absorbers, will soon be foraying into the business of engine oils and industrial lubricants through a joint venture with South Korea's SK Enmove, a company filing said on October 7, sending the shares higher by nearly 5 percent.
This aligns with the restructuring that was recently undertaken to take Gabriel India from a single-product, suspension manufacturer to a "diversified technology-driven mobility solutions provider".
The joint venture will be a 51:49 partnership between SK Enmove and Gabriel India, in which the Indian OEM player will invest up to Rs 29.40 crore in one more tranche.
This marks Gabriel's entry into the Lubricants and Specialty Fluids industry, through which the company aims to get into the end-to-end business of manufacturing and distributing 'any type of engine oils', electric vehicle
fluids, shock absorber oil, industrial lubricants, greases and e-thermal fluids.
The terms of JV allow Gabriel India the right to appoint two directors on the board while SKEN shall have the right to appoint three. The right to nominate a chairman alternates every two years between Gabriel India and SKEN, the company said. Gabriel India will be appointing the Managing Director / Chief Operating Officer and SKEN shall appoint the Joint Managing Director / Joint Chief Operating Officer.
"Both the parties shall have voting rights in proportion to their shareholding in JV Co," the company filing said. The JV is being proposed to be named as SK Enmove Gabriel India Private Limited, pending approval by the Registrar of Companies.
In July 2025, Gabriel India had announced a strategic business restructuring to simplify the corporate structure and consolidate its automotive businesses into the listed entity with an aim to make the company a diversified mobility solutions provider. The plan involved merging Anchemco India into Asia Investments, followed by the demerger of Asia Investments' automotive undertakings into Gabriel India.
"...I think you can see with the change of guard and a far more aggressive outlook on the business now seeing where we are in India. We feel very strongly that we're in a great position to build value for the Gabriel shareholder and also to use Gabriel as our vehicle for growth going forward," Mrs Anjali Singh, Chairperson of Gabriel India had said during the June quarter earnings call.
"...Gabriel is the vehicle for growth and we see this as a first step on both looking at organic and inorganic opportunities for the company," the chairperson added.
The move was part of a broader strategy to achieve Rs 50,000 crore revenue target by 2030.
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