Gabriel India Q2 FY26 results: net profit up 9.7% to ₹69.03 crore, revenue up 14.9%

How did Gabriel India perform in Q2 FY26?

Gabriel India reported consolidated revenue of ₹1,180 crore for Q2 FY26, up ₹153.21 crore or 14.9% from Q2 FY25 and ₹81.92 crore or 7.5% from Q1 FY26. Total income was ₹1,186.37 crore, an increase of 15.0% year on year. EBITDA rose by ₹14.13 crore or 14.3% to ₹112.83 crore, while the EBITDA margin remained at 9.6% in both quarters.

Profit before tax increased 10.7% year on year to ₹91.01 crore and 11.8% from Q1 FY26 to ₹91.01 crore. Net profit rose by ₹6.11 crore or 9.7% from a year ago to ₹69.03 crore and by ₹7.06 crore or 11.4% from the previous quarter. Basic EPS was ₹4.81, compared with ₹4.38 in Q2 FY25 and ₹4.31 in Q1 FY26. On the standalone basis, revenue was ₹1,066.08 crore and net profit was ₹60.65 crore.

What changed in Gabriel India's costs and profit?

Total expenses rose by ₹145.64 crore or 15.3% from Q2 FY25 to ₹1,095.36 crore, compared with the 14.9% increase in revenue. Cost of materials increased by ₹92.17 crore or 12.0% to ₹860.67 crore, employee cost by ₹12.04 crore or 18.7% to ₹76.46 crore, depreciation by ₹5.68 crore or 29.3% to ₹25.05 crore, and other expenses by ₹16.89 crore or 16.3% to ₹120.52 crore.

Finance costs increased by ₹0.87 crore or 44.2% to ₹2.84 crore, while other income rose by ₹1.25 crore or 25.9% to ₹6.07 crore. There was no exceptional item. Tax expense increased by ₹2.71 crore or 14.1% to ₹21.98 crore, and the PAT margin was 5.8%, down 0.3 percentage points from Q2 FY25 despite the increase in net profit.

Against Q1 FY26, total expenses rose by ₹74.41 crore or 7.3% to ₹1,095.36 crore. Cost of materials increased by ₹65.85 crore or 8.3%, employee cost by ₹3.12 crore or 4.3%, and other expenses by ₹4.07 crore or 3.5%. Other income rose by ₹2.08 crore or 52.1%, while finance costs fell by ₹0.01 crore or 0.4%; depreciation increased by ₹0.05 crore or 0.2%.

How did the first half of FY26 go?

For H1 FY26, Gabriel India reported consolidated revenue of ₹2,278.68 crore, up ₹305.02 crore or 15.5% from H1 FY25. Total income rose by ₹303.95 crore or 15.3% to ₹2,288.74 crore. Profit before tax increased by ₹14.22 crore or 9.0% to ₹172.44 crore.

Net profit for the first half was ₹131.0 crore, up ₹10.49 crore or 8.7% from ₹120.51 crore in H1 FY25. Basic EPS rose by ₹0.73 or 8.7% to ₹9.12 from ₹8.39. The quarter accounted for ₹1,180 crore of first-half revenue and ₹69.03 crore of net profit.

What do the balance sheet and cash flow show?

At 30 September 2025, total assets were ₹2,258.43 crore, compared with ₹2,024.27 crore at 31 March 2025, while total equity rose to ₹1,276.9 crore from ₹1,183.29 crore. Borrowings increased to ₹39.81 crore from ₹23.86 crore, and cash rose to ₹108.89 crore from ₹37.84 crore. Inventories were ₹387.04 crore, trade receivables ₹706.6 crore, and trade payables ₹728.46 crore.

H1 FY26 operating cash flow was ₹148.03 crore, compared with ₹93.72 crore in H1 FY25. Investing cash flow was negative ₹40.19 crore against negative ₹99.56 crore, while financing cash flow was negative ₹36.37 crore against negative ₹33.39 crore. Capital expenditure was ₹101.64 crore, compared with ₹70.43 crore a year earlier, and closing cash in H1 FY25 was ₹20.7 crore.

How has Gabriel India done over the last 8 quarters?

Revenue rose in each of the last six quarters on a year-on-year basis and also increased sequentially in Q2 FY26, reaching ₹1,180 crore. The quarterly revenue series included a low of ₹815.43 crore in Q3 FY24 and a high of ₹1,180.3 crore in Q2 FY26, while the latest quarter was above Q1 FY26's ₹1,098.38 crore.

Net profit followed a generally upward path from ₹41.25 crore in Q3 FY24 to ₹69.03 crore in Q2 FY26, although it fell from ₹64.36 crore in Q4 FY25 to ₹61.97 crore in Q1 FY26 before recovering. The EBITDA margin bottomed at 8.6% in Q3 FY24, reached 10.1% in Q4 FY25 and stood at 9.6% in Q2 FY26. Revenue and profit each rose year on year in each of the last six quarters.

What else did the company announce?

The board approved unaudited standalone and consolidated results for the quarter and half year ended 30 September 2025, together with the statement of assets and liabilities and cash-flow statement. It also approved an interim dividend of ₹1.90 per share on a face value of ₹1 each, set 21 November 2025 as the record date and stated that payment would be made on or before 11 December 2025.

The board approved initialisation of a revised joint-venture agreement for Inalfa Gabriel Sunroof Systems Private Limited, with proposed shareholding of 35% for Inalfa and 65% for Gabriel India. Execution and implementation remain subject to PN3 and other regulatory approvals; Gabriel India said it would retain majority control and make no additional investment at that stage.

The same-day filings also referred to new joint ventures with JINHAP and SK Enmove. The SK Enmove venture was formally executed on 15 October 2025, with Gabriel India and SK Enmove to hold 143:91 respectively, and the filing described businesses including e-mobility fluids, shock absorbers, industrial lubricants, greases and thermal management.

What did Gabriel India's management say?

The earnings call was held on 19 November 2025, but the available record contains no management guidance, priorities, risks, analyst concerns or attributable comments from the call. The company’s investor presentation for November 2025 covered standalone results, strategy, quarterly performance, the balance sheet, cash flow, revenue mix and joint-venture updates, but it did not provide attributable earnings-call statements for this article.

How did Gabriel India shares react?

Gabriel India’s shares rose 1.2% after five minutes, 1.5% after 15 minutes and 1.1% after 30 minutes from the level when the filing appeared. On the reaction day, the stock closed 2.0% below its previous close. By the next day’s close, it was down 6.9% from that pre-results close, and by the fifth session it was down 15.9%.

The Auto Components & Equipments industry median moved 0.4% lower on the reaction day, 0.3% lower by the next day and 1.7% lower by the fifth session. Gabriel India therefore underperformed the industry median by 1.6 percentage points on the reaction day, 6.6 percentage points by the next day and 14.3 percentage points by the fifth session. Earlier results-day moves were 4.9%, 5.8% and 7.4% on 29 July, 20 May and 29 January 2025, respectively.

How did other Auto Components & Equipments companies do?

Among 114 other Auto Components & Equipments companies compared for the quarter, the median revenue growth was 9.4%, below Gabriel India’s 14.9% consolidated growth. Of the peers with comparable revenue data, 76 grew more slowly than Gabriel India and 38 grew faster; the company itself is not included in those counts.

Of the 115 peers for which profit was compared, 72 reported higher profit. The peer data was recorded as of 5 November 2026, while Gabriel India’s Q2 FY26 result was announced on 12 November 2025.