ICICI Direct has given Buy recommendation for Gabriel India with a target price of Rs. 205 in its research report issued on Sep 08, 2022

ICICI Direct’s research report on Gabriel India

Gabriel India (GIL) is a global top-10 shock absorber manufacturer serving 2-W, 3-W, PV, CV, railway and aftermarket segments. FY22 revenue mix – ~65% 2-W, 3-W, ~22% PV, ~13% CV & railways • FY22 market share – 25% in 2-W, 3-W, 23% in PV, 85% in CV & railways.

Outlook

We maintain BUY rating on the stock amid EV proof product profile; healthy growth prospects, strong capital efficiency and debt free b/s. Revising our estimates, we now value GIL at 18x P/E on FY24E for a revised target price of Rs 205/share (earlier target price Rs 170).

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