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Gabriel India Margin Trend — Quarter by Quarter

Gabriel India's EBITDA margin moved from 9.8% in Q2 FY26 to 9.7% in Q4 FY26 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q4 FY269.7%—
Q3 FY269.0%—
Q2 FY269.8%—

What management said about ebitda margin

G

Q4 FY26 · Sunroof EBITDA margin of 12-14%

Sunroof business EBITDA margin at capital level is expected to remain in the 12-14% range.

G

Q3 FY26 · Sunroof localization target 60% by FY27 end

Management targets increasing sunroof localization from current 33% to 60% by end of FY27 to improve margins.

G

Q2 FY26 · Double-digit EBITDA margin target maintained

Management reiterated the aspiration to achieve double-digit EBITDA margins over the next couple of years, despite near-term pressure from MMA acquisition.

G

Q2 FY26 · MMA acquisition to turn PBT positive by end of FY26

The MMA business is expected to achieve positive PBT by the end of the current fiscal year, with margins eventually aligning with Gabriel's average.