Gabriel India is targeting exports to account for 15-20% of its portfolio by 2030, compared with about 3-4% currently, as the auto component maker seeks to build a more balanced business and expand its presence in overseas markets.
The company will initially aim to raise the contribution of direct exports to around 10%, before moving towards the longer-term target, Atul Jaggi, Group President at ANAND Group and Managing Director of Gabriel India, told Autocar Professional.
“Currently, exports are not very high,” Jaggi said. “Purely the dollar exports are 3-4%, but the aspiration has been to first take it to 10% of the portfolio. In the long run, we would like to have a more balanced portfolio where exports contribute around 15-20%.”
Jaggi clarified that the figure referred to direct exports and did not include supplies routed through the company’s local operations or offices in overseas markets.
The company has identified products and geographical segments where it can expand exports. It also plans to use its existing relationships with global vehicle manufacturers in India to gain access to their international operations.
“We would like to do much more there because we see a lot of opportunities,” Jaggi said. “New businesses in exports do not happen overnight. They take their own time, but directionally, we are moving the right way.”
Solar Dampers, E-Bike Forks to Support Exports
Gabriel expects new businesses such as solar dampers and suspension products for e-bikes to support its export ambitions.
According to the auto component maker’s FY26 investor presentation, manufacturing of solar dampers and e-bike forks is expected to begin in FY27. Gabriel has supplied samples of its e-bike products to European customers and has received follow-on sample orders. It has also secured solar damper orders from three customers covering domestic and export markets.
The e-bike business is focused largely on Europe, where Gabriel is developing high-performance suspension products such as air and coil forks, dropper posts and upside-down forks.
Solar dampers are used in tracking systems that move solar panels in the direction of the sun. The dampers also reduce unwanted movement and protect solar trackers from high wind loads.
Jaggi said the company has set medium-term ambitions of building both the solar damper and e-bike suspension businesses to around ₹200 crore each over the next few years. Both products will initially remain small compared with Gabriel’s automotive operations, but are expected to add new export-led revenue streams.
OEM and Aftermarket Channels
Gabriel’s export mix is almost evenly divided between vehicle manufacturers and the aftermarket. OEM customers accounted for 55% of exports during FY26, while the aftermarket contributed 45%, according to the company’s investor presentation.
Asia and the Americas each accounted for 28% of the geographical mix, followed by Europe at 27%, Africa at 14% and Australia at 4%. The company supplies components to DAF in the Netherlands and Yamaha in Japan and is pursuing requests for quotations from other global commercial vehicle manufacturers.
For aftermarket exports, Gabriel is targeting Latin America, Australia and Africa. The company said it added new markets in Latin America during FY26.
The investor presentation shows that Gabriel’s quarterly export contribution remained at around 3% of revenue during the first three quarters of FY26 before easing to 2% in the March quarter.
Rupee Depreciation Offers Opportunity
Jaggi said the depreciation of the rupee due to ongoing geopolitical conflicts has improved the competitiveness of exports and has also provided a natural hedge against imported products and inputs.
However, he added that developing overseas business requires customer testing, validation and long lead times. The company is therefore focusing on building customer relationships and securing programmes rather than depending only on currency movements.
Gabriel’s standalone revenue increased 16.2% to ₹4,233 crore in FY26, from ₹3,643 crore in the previous year. The company incurred capital expenditure of ₹189.3 crore during the year, including spending on growth projects and land for its planned Hosur expansion.
Diversified Portfolio to Widen Overseas Opportunity
Gabriel is also expanding beyond its traditional suspension business through acquisitions, joint ventures and restructuring.
It acquired additional capacity of 3.2 million shock absorbers and one million gas springs through the purchase of Marelli Motherson Auto Suspension’s assets. The company has also entered sunroofs, fluids, forgings, drivetrain systems, adhesives, lubricants and specialised fasteners.
The wider portfolio could allow Gabriel to approach global customers with multiple products instead of depending only on ride-control systems.
For now, the company’s overseas business remains small compared with its domestic operations. Its plan to raise exports to 15-20% will depend on converting ongoing customer discussions into orders, starting commercial production of new products and building a stronger overseas aftermarket network.