Gabriel India

What Gabriel India does

Gabriel India Limited (BSE: 505714, NSE: GIL) is a publicly listed Tier-1 automotive component manufacturer and the flagship entity of the US$2.2+ billion ANAND Group, founded in 1961 as a joint venture with US-based Maremont Corporation to manufacture shock absorbers in Mulund, Mumbai. The company designs, manufactures, and supplies ride control products — primarily shock absorbers, struts, and suspension components — for two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles, with manufacturing facilities in Pune (Chakan, headquarters), Mumbai, Nashik, and Chennai. Its core customer base consists of India's largest automotive OEMs — Maruti Suzuki, Hero MotoCorp, Tata Motors, Hyundai, Kia, Mahindra, and Yamaha — to whom it supplies directly under multi-year contracts.

The company operates a B2B OEM-embedded go-to-market model supplemented by an aftermarket distribution channel for replacement parts. Under Executive Chairperson Anjali Singh and Group President & Managing Director Atul Jaggi, Gabriel India has executed a documented transformation from a single-product suspension manufacturer into a diversified mobility platform, expanding through joint ventures and licensing agreements: Inalfa Gabriel Sunroof Systems (IGSS) with Dutch-based Inalfa Roof Systems (2023, Rs 170 crore Chennai plant), SK Enmove Gabriel India with South Korea's SK Group (October 2025, lubricants and EV fluids), the Anevolve e-mobility platform with Mando and Headspring Japan (2023), and a February 2025 exclusive licensing agreement with TracTive for advanced electronic suspension technologies. The ANAND Group's broader JV ecosystem — including Dana Anand India (drivetrain) and Henkel Anand India (sealants and adhesives, partnership since 1997) — is being progressively consolidated into Gabriel India's reported financials.

In Q4 FY26, Gabriel India reported revenue from operations of Rs 1,210 crore (up 12.7% year-over-year) and net profit of Rs 66.6 crore (up 3.4%), with EBITDA margin compressing to 9.3% from 10.1% as the company invests in new JV integrations. Motilal Oswal projects consolidated revenue CAGR of 22% and PAT CAGR of 55% for FY26-FY28E, with a base-case target price of Rs 1,266 implying 29% upside. The ANAND Group has publicly committed to Rs 50,000 crore in group revenues by 2030, with Gabriel India positioned as the primary listed growth vehicle.

Name

Gabriel India

Legal name

Gabriel India Limited

Website

https://anandgroupindia.com

Company type

Public

Founded year

1961

Operating status

Operating

Headcount range

10,001+ employees

Short description

Gabriel India Limited is a publicly listed Tier-1 Indian automotive components manufacturer and ANAND Group flagship, supplying shock absorbers, suspension systems, sunroofs, EV components, and lubricants to OEMs including Maruti Suzuki, Hero MotoCorp, Tata Motors, Hyundai, Kia, and Mahindra.

Ownership category

akta.pro rank

Product category

Automotive Ride Control Components

NAICS

Motor Vehicle Parts Manufacturing (3363), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)

SIC

Motor Vehicle Parts & Accessories (3714), Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Suspension Systems & Components (Springs/Shocks/Struts/Air Suspension) (IMACAIAA)

akta.pro secondary industries

Aftermarket Suspension & Steering Components Manufacturing (Shocks/Struts/Bushings/Tie Rods) (IMACANAC), Passenger Vehicle Electrical & Electronics Manufacturing (ICE) (IMACAAAK)

Keywords

• Automotive ride control
• Suspension components manufacturing
• Shock absorber supplier
• Automotive OEM components
• Vehicle suspension systems

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. OEM Components Supply: Primary revenue stream from supplying ride control products (shock absorbers, suspension components) directly to automotive OEMs including Maruti Suzuki, Hero MotoCorp, Tata Motors, Hyundai, Kia, Mahindra, and Yamaha. Q4 FY26 revenue from operations was Rs 1,210 crore with 12.7% growth year-over-year.
2. Aftermarket Distribution: Replacement parts and aftermarket distribution through established channels, leveraging OEM relationships and distribution network for automotive components including filters, coolants, brake fluids, and suspension parts.
3. Joint Venture Consolidation: Revenue growth driven by Dana Anand (drivetrain solutions) and Henkel Anand (sealing products) integration, projecting 22% revenue CAGR for consolidated business through FY28.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Gabriel India manufactures and supplies ride control products (shock absorbers, struts, and suspension components) for two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles, serving as a Tier-1 supplier to major Indian automotive OEMs. The company has expanded its portfolio to include automotive sunroofs through the IGSS joint venture with Inalfa, automotive lubricants and EV fluids through the SK Enmove JV, and aftermarket replacement parts distributed through service networks across India.

Product overview

Gabriel India is the NSE-listed flagship company of the ANAND Group, established in 1961 as a joint venture with Maremont Corporation for manufacturing shock absorbers. The company has transformed from a single-product suspension player into a diversified mobility platform. Its core offerings include ride control products (shock absorbers, struts), sunroofs (via IGSS joint venture with Inalfa), automotive lubricants and EV fluids (via SK Enmove Gabriel India JV), e-bicycles, and aftermarket components. The company serves as the primary growth vehicle for the ANAND Group and is targeting ₹50,000 crore in group revenues by 2030.

Differentiator

Problem solved

Functional benefit

Brands

• ANEVOLVE: ANAND Group's cleantech platform for green technology solutions in electric mobility and other sectors, launched January 2023 at New Delhi Auto Expo.

Products and services

• Shock Absorbers / Ride Control Products Core automotive suspension components providing ride control for two-wheelers, three-wheelers, passenger cars, and commercial vehicles. Manufactured since 1961 under technology partnership with Maremont Corporation and supplied to OEM customers including Maruti Suzuki, Hero MotoCorp, Tata Motors, Hyundai, Kia, Mahindra, and Yamaha.
• Struts Automotive strut assemblies used in vehicle suspension systems for passenger cars, supplied to OEMs as part of Gabriel India's ride control product portfolio.
• Automotive Sunroofs Automotive sunroofs manufactured for passenger vehicle OEMs through the IGSS joint venture with Dutch-based Inalfa Roof Systems. Produced at a new Chennai-area plant with initial capacity of 20,000 sunroofs per year, serving OEM customers including Hyundai, Kia, and planned Mahindra, Tata Motors, and Maruti Suzuki.
• Automotive Lubricants and EV Fluids Premium automotive and industrial lubricants including specialty EV fluids for the Indian automotive aftermarket, manufactured and distributed through the SK Enmove Gabriel India joint venture (51% SK Enmove, 49% Gabriel India), combining SK's lubricant technology expertise with Gabriel India's OEM relationships and aftermarket distribution network.
• Aftermarket Replacement Parts Replacement and service parts distributed through aftermarket channels for vehicle maintenance and repair, including filters, coolants, brake fluids, AdBlue, and suspension parts, leveraging OEM relationships and ANAND Group's distribution network across India.
• Railway Products Suspension and ride control products designed for railway transportation applications, extending Gabriel India's ride control expertise beyond road vehicles into rail.

Quantifiable outcome

• 690% stock appreciation over 5 years
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and strategic.

• SK Enmove (SK Group)coreStrategic or Co-development Partner · 15 October 2025Gabriel India signed joint venture agreement with SK Enmove, part of South Korea's SK Group ($148 billion conglomerate), to enter India's automotive lubricants and EV fluids market. JV named 'SK Enmove Gabriel India' - 51% owned by SK Enmove, 49% by Gabriel India. Targets ₹40,000 crore Indian market combining SK's lubricant expertise with GIL's OEM relationships and aftermarket distribution network.
• TracTivestrategicTechnology or Integration · 1 February 2025Exclusive licensing agreement for TracTive proprietary suspension technologies in India. Gabriel India gains rights to manufacture and distribute advanced suspension technologies including electronic suspension systems for two-wheelers in Indian market.
• Inalfa Roof SystemscoreStrategic or Co-development Partner · 1 December 2023Gabriel India formed joint venture Inalfa Gabriel Sunroof Systems (IGSS) with Dutch-based Inalfa Roof Systems to manufacture sunroofs for Indian automotive market. Investment of Rs 170 crore in new Chennai facility with initial capacity of 20,000 sunroofs per year. First OEM customers: Hyundai and Kia. Planned expansion to include Mahindra, Tata Motors, and Maruti Suzuki.
• Dana Incorporated (Dana Anand India)coreStrategic or Co-development Partner · 1 January 2023Joint venture Dana Anand India manufacturing axles, drive-shafts, and drivetrain products. Part of long-standing ANAND-Dana partnership. Motilal Oswal identifies Dana Anand as key growth driver with 22% revenue CAGR projection for consolidated business.
• HL Mando Corporation (Anevolve Mando eMobility)strategicStrategic or Co-development Partner · 1 January 2023ANAND Group and Mando Corporation JV for electric vehicle components - motor and controller for 2/3-wheeler EV market. Part of ANEVOLVE platform launched January 2023 at New Delhi Auto Expo with partnerships from Japan, Israel, and Britain.
• Headspring Inc. (Japan)strategicTechnology or Integration · 1 January 2023Strategic partnership for ANEVOLVE Headspring Engineering Centre (ANHS) in Gurugram - cutting-edge power electronics solutions for EVs spanning powertrains to chargers.
• Joyson Safety Systems and Abhishek Group (JAASS)strategicStrategic or Co-development Partner · 1 January 2019Tri-party JV with Joyson Safety Systems (USA) and Abhishek Group for automotive safety systems including seat belts, airbags, and steering wheels. Four manufacturing plants at Neemrana, Manesar, Pune, and Chennai.
• Henkel KGaA (Henkel ANAND India)coreStrategic or Co-development Partner · 1 January 1997Joint venture with German conglomerate Henkel for sealants, adhesives, and coatings products. Long-standing partnership since 1997. Motilal Oswal identifies Henkel Anand as key growth driver with integration into consolidated financials.
• Maremont Corporation (now Gabriel Ride Control Products)coreTechnology or Integration · 1 January 1961Original joint venture partner for shock absorber manufacturing established in 1961 with Maremont Corporation (now Gabriel Ride Control Products of Arvin Meritor Inc., USA). First Indo-American joint venture where management control was vested with Indian partners - foundation of ANAND partnership model.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Endurance Technologies: Indian Tier-1 auto component manufacturer with a leading domestic position in suspension, braking and transmission components for two-wheelers and passenger vehicles. Direct overlap with Gabriel India in shock absorbers, struts and ride control products, serving many of the same Indian OEMs.
• Mando India (HL Mando Corporation): Indian arm of South Korean chassis and brake systems supplier, manufacturing suspension, braking and steering components for passenger vehicles and 2/3-wheelers in India. Direct competitor in ride control products and a JV partner with ANAND Group for EV motors/controllers via ANEVOLVE.
• Uno Minda (Minda Industries): Indian-listed auto component manufacturer supplying switches, lighting, acoustics and suspension products to two-wheeler and passenger vehicle OEMs including Maruti Suzuki, Hero MotoCorp, Tata Motors and Mahindra — overlapping customer base with Gabriel India.

Broad incumbents

• KYB Corporation: Japanese global leader in hydraulic shock absorbers and suspension systems for two-wheelers, passenger cars and commercial vehicles. Direct product overlap with Gabriel India's heritage shock absorber business at a global scale.
• Motherson Sumi Systems (Samvardhana Motherson): Large Indian auto component conglomerate supplying wiring harnesses, mirrors, modules and various other components globally to OEMs. Comparable scale and Indian-listed profile to Gabriel India, though with broader product diversification rather than suspension focus.
• Bosch India (Bosch Limited): Indian operations of the global Tier-1 supplier with a broad portfolio including automotive electronics, chassis systems, and components for two-wheelers and passenger vehicles. Competes broadly in the Indian auto component market alongside Gabriel India.
• Bilstein (ThyssenKrupp): German manufacturer of premium gas-pressure shock absorbers and suspension technology under the Bilstein brand, competing globally in the ride control segment and indirectly relevant to Gabriel India's TracTive partnership for advanced suspension systems.
• ZF India (ZF Friedrichshafen): Indian operations of the German Tier-1 supplier offering chassis technology including suspension, dampers, and driveline components to global and Indian OEMs. Competes with Gabriel India in ride control while also offering broader vehicle system solutions.
• Tenneco (DRiV): Global ride control and clean air products manufacturer with Monroe brand shock absorbers, directly competing with Gabriel India in aftermarket and OEM suspension globally and in India through local distribution.

Regional players

• Sona Comstar: Indian-listed auto technology company focused on driveline and chassis systems including suspension and steering assemblies for passenger and commercial vehicles. Comparable Indian-listed auto ancillary serving overlapping OEM customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks1 record

Key highlights6 records

Customer concentration

• Xx.com/AnandGroupIndia
• Facebookfacebook.com/AnandGroupIndia

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gabriel India