Gabriel India spurts after Q4 PAT rises 5% to Rs 28 cr

Gabriel India rose 2.51% to Rs 126.70 after the company's net profit rose 4.8% to Rs 27.69 crore on 36.8% increase in net sales to Rs 580.73 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax soared 82.1% to Rs 40.67 crore in Q4 FY21 as against Rs 22.34 crore in Q4 FY20. EBITDA grew 49% to Rs 49.30 crore in Q4 FY21 as against Rs 33.10 crore over the same period last year. EBITDA margin improved to 8.5% in Q4 March 2021 from 7.8% in Q4 March 2020.

During the financial year, Gabriel India's net profit tanked 35.59% to Rs 54.45 crore on 9.09% decline in net sales to Rs 1,699.93 crore in FY 2021 over FY 2020. The results of FY21 are not comparable due to the adverse impact by outbreak of Covid-19. However, due to stringent cost reduction measures Gabriel has managed to minimise the impact of the Pandemic on its performance.

Cash flow from operations stood at Rs 204.30 crore compared with Rs 120.10 crore in FY20, recording a growth of 70.10% Y-o-Y (year-on-year). The capex incurred during the period was at Rs 47.60 crore.

The board recommended a final dividend for FY 2020-21 of Rs 0.70 per equity share.

Meanwhile, the board approved the re-appointment of Manoj Kolhatkar as the managing director of Gabriel India for a further period of five years from the expiry of his present term of office, with effect from 27 May 2021.

Gabriel India manufactures various auto components. The company's products are sold to manufacturers of two-wheeler scooters, motorcycles, cars, light commercial vehicles and trucks located in India and abroad.

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