Buy Gabriel India; target of Rs 150: ICICI Direct

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26 Aug, 2025 12:21

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Gabriel India (GIL) reported a solid Q3FY21 performance. Net sales for the quarter were at Rs 536.5 crore, up 17.8% YoY, broadly following the underlying volume growth at key OEMs. EBITDA in Q3FY21 was at Rs 39.1 crore with corresponding EBITDA margins at 7.3% (up 20 bps YoY but down 60 bps QoQ). PAT in Q3FY21 was at Rs 24.5 crore, up 40% YoY.

We introduce FY23E numbers, upgrading it from HOLD to BUY with a revised target price of Rs 150 (i.e. 20x P/E on FY23E EPS of Rs 7.5; previous target price Rs 125).

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