GABRIEL INDIA FUNDAMENTAL RESEARCH REPORT

Gabriel India (NSE: GABRIEL, BSE: 505714), Pune, is the listed flagship of the ANAND Group. Its own business is ride control - shock absorbers, struts and front forks for two-wheelers, cars and commercial vehicles, plus the aftermarket - and since 2025 also sunroofs (with Inalfa) and automotive fluids (the merged Anchemco). It is not an F&O stock, so it sits inside this SOP’s lane. Shares: 17.72 Cr (FV Rs 1); market cap ~Rs 26,300 Cr. Event 1 - the group is being folded into Gabriel. “Project Rise” (completed 2026) moved the group’s stakes in Dana Anand (driveline), Henkel Anand (adhesives/NVH) and 76.1% of Anand CY Myutec (forgings) into Gabriel and merged Anchemco. “Project Jupiter” (Jul-2026) added 28.99% of HL Mando Anand (brakes, steering, suspension; FY26 revenue Rs 5,886 Cr, PAT Rs 358 Cr) for Rs 2,231 Cr, and 30% of HL Klemove India (ADAS; ~Rs 1,000 Cr revenue) for USD 98.4 mn. Management says Gabriel now carries ~70% of group automotive revenue, and the rest may follow.