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This auto ancillary may be down but not out

March 06, 2020 / 02:44 PM IST
This auto ancillary may be down but not out

Continuous weakness in the automobile sector has hurt the financial performance of many auto component manufacturers. Gabriel India (CMP: Rs94.15, Mcap: Rs1,352 crore), which makes ride control products and solutions, is no exception. In the quarter gone by, it posted a double-digit decline in net revenue, which is not surprising given the double-digit decline faced by the industry. Operating profitability also contracted due to negative operating leverage consequent to lower volumes. We believe that the downturn is cyclical and Gabriel...

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