Gabriel India Ltd

Gabriel India Limited: Trading Window closed from October 01, 2026 till the end of Forty-Eight (48) hours after the financial results for the quarter ended September 30, 2026 become generally available

Clarification on price movement

• Gabriel India states it is not aware of any reason for significant price movement across exchanges.
• There is no undisclosed information or price-sensitive information affecting operations or performance.
• Date: September 23, 2026; CFO Mohit Srivastava signed the filing.

Parties and transaction

• Target: Gabriel India Limited.
• Acquirer: Asia Investments Private Limited (promoter group).
• Transaction: Acquisition of equity shares via preferential allotment.

Pre-transaction holding

• Pre-holding: 7,56,17,079 shares, 42.67% voting rights.

Transaction details

• Acquired: 1,44,04,204 shares (7.52%) via preferential allotment.

Post-transaction holding

• Post-holding: 9,00,21,283 shares, 46.98%.

Capital context and dates

• Allotment date: September 11, 2026.
• Pre-transaction equity capital: 17,72,30,023.
• Post-transaction equity capital: 1,91,634,227.
• Total diluted share/voting capital after: 1,91,634,227.

Meeting Details

• Date & time: 15 September 2026, 10:00 AM onwards
• Type and mode: Non-Deal Roadshow, physical group meeting in Mumbai
• Organiser: Ambit Capital
• Key participant: CFO of Gabriel India
• Purpose: discuss publicly available information with investors

Rating Action

• NCD Rs 1,000 crore rated AA+/Stable; assigned.
• Long-term bank facilities Rs 170 crore reaffirmed AA+/Stable.

Rationale & Drivers

• Consolidation under Project Rise/Jupiter strengthens Gabriel's strategic role in the ANAND group.
• Diversified product portfolio across ride control, ADAS, steering, electronics enhances earnings resilience.
• Strong financial risk profile: adjusted gearing below 0.30x; interest coverage above 12x.
• Liquidity is strong with Rs 450-650 crore cash accrual; net worth > Rs 4,000 crore by 2027.
• Promoter stake rises to ~66.3% after Project Jupiter; acquisition debt of Rs 1,000-1,200 crore expected.
• Debt/EBITDA below 1.9x; interest coverage above 12x; fund-based lines ~Rs 220 crore.

Outlook & Sensitivities

• Outlook: Stable, reflecting strengthened risk profile and ongoing consolidation.
• Upward factors: revenue diversification and strong cash generation.
• Downward factors: sustained high debt or weak profitability.

Financial Snapshot

• Revenue (FY2026): Rs 4,667 crore; PAT Rs 252 crore; PAT margin 5.4%.
• Adjusted networth expected to exceed Rs 4,000 crore by Mar 2027.

Transaction overview

• Gabriel India to acquire 30% minus one share of HL Klemove India.
• Transaction value US$98.44 million (≈ ₹935 crore).
• Gabriel India becomes strategic shareholder in HL Klemove India Private Limited.
• Joint venture to develop autonomous driving and automotive electronics.

JV scope and products

• JV to develop, manufacture, and sell radar, front cameras, lidar, ADAS software.
• Products include brake ECUs, steering ECUs, chassis control units, torque sensors.

Strategic rationale / outlook

• Expands Gabriel India's participation in autonomous driving and mobility tech.
• Advances diversification into high-growth mobility segments.

Fund-raising details

• Instrument: non-convertible debentures (NCDs) unsecured and listed
• Mode: private placement to eligible investors
• Amount: up to INR 1,000 Crores (100,000 debentures of INR 100,000 each)
• Issue price: face value INR 100,000 per debenture
• Security: not created over assets
• Listing: to be listed on BSE Limited
• Tenure/coupons/maturity: to be specified in the key information document
• Allotment/maturity/date: to be specified in the key information document
• Governance: board accorded in-principle approval; Finance Committee formed to oversee issuance
• Other: private placement to eligible investors; no other rights disclosed

HL Klemove India Pvt Ltd stake

• Target: HL Klemove India Private Limited; line of business and country presence not disclosed.
• Size/scale: not disclosed.
• Related party status: not disclosed.
• Industry/sector: not disclosed.
• Purpose: form associate company via 30% minus one stake.
• Regulatory approvals: not specified.
• Timeline: completion targeted August 24, 2026 or a mutually agreed date.
• Consideration: not disclosed; percentage acquired: 30% minus one equity share.
• Background: not disclosed.