Gabriel India Limited signs joint venture with SK Enmove, part of the SK Group US $148 Billion- among South Korea's two largest conglomerates

• The JV signals Gabriel India's evolution into a diversified auto systems and components major beyond only suspension and ride control
• Builds on recent expansions into sunroofs, fasteners, solar dampers as well as a strategic restructuring led by the ANAND Group that has been resoundingly welcomed by shareholders and stakeholders alike

PUNE, India and SEOUL, South Korea, Oct. 16, 2025 /PRNewswire/ -- Gabriel India Limited (GIL), the NSE-listed flagship of the $2.4-billion ANAND Group, has announced a landmark joint venture with SK Enmove, a leading Korean energy and lubricants company and a subsidiary of South Korea's SK Group—one of the nation's top two conglomerates with over US$ 250 billion in assets.

This strategic partnership represents a significant step in GIL's transformation into a diversified automotive systems and components major, expanding beyond its traditional core strength in ride control products. The JV positions GIL to enter India's fast-growing ₹40,000 Cr. lubricants and EV fluids market that is projected to witness steady growth with rising vehicle and EV adoption.

'SK Enmove Gabriel India,' where SK Enmove will hold a 51% stake with GIL the remaining 49%, will leverage the existing strengths and operations of both partners, aiming to secure an immediate and robust presence in the automotive fluids segment. This includes the establishment of a greenfield facility and also involves the acquisition of SK Enmove's existing India operations, providing an immediate foothold.

Building on GIL's strong brand equity, deep OEM relationships, and extensive aftermarket distribution network, the new JV company is poised to scale rapidly in the Indian market, starting this December.

This move follows GIL's recent diversification initiatives, including its JV with Korea's JINHAP for automotive fasteners; a partnership with Dutch-based Inalfa Roof Systems for sunroofs and its entry into the renewables space through solar dampers. GIL has also expanded into the European bicycle market with its suspension products.

"Gabriel India stands at the threshold of a historic transformation—from a leader in world-class suspensions to an emerging automotive systems and components powerhouse with a rapidly expanding portfolio across multiple segments of the mobility ecosystem," said, Mrs. Anjali Singh, Executive Chairperson of Gabriel India and the ANAND Group.

Speaking at the signing of the Joint Venture, Mr. Jaisal Singh, Vice Chairman of ANAND who spearheads M&A for the group, said, "This new joint venture with the prestigious SK Group of Korea, through SK Enmove, is an important step in our journey of growth and diversification, bringing the very best technologies and companies to India. It positions our flagship, Gabriel India Limited, to deliver a wider array of world-class solutions across a broad spectrum of the automotive sector and beyond, building on decades of excellence and trust that have characterised us with our shareholders and customers alike since 1961."

"With products designed for both ICE and EV applications, we are well positioned to offer a diverse array to our customers across the mobility spectrum," Mr Singh further added.

Mr. Kim Wone-kee, CEO of SK Enmove, stated, "Based on this strategic cooperation with the ANAND Group, SK Enmove will leap forward as a leading brand in the Indian lubricant market."

Through this JV, Gabriel India - having reported consolidated revenue of ₹4063 Cr. in FY 2024-25, up nearly 20% Y-o-Y - will enter end-to-end manufacturing and distribution of a comprehensive product range, including engine oils, EV fluids, shock absorber oils, industrial lubricants, greases, and e-thermal fluids. 

This JV with SK Enmove reinforces GIL's commitment to innovation, growth, and leadership across emerging automotive segments.

The JV agreement was signed on the 15th of October 2025 at SK Enmove's Headquarters in Seoul, South Korea, in the presence of Mrs. Anjali Singh, Executive Chairperson Gabriel India Limited, Mr. Jaisal Singh Vice Chairman of ANAND, and Mr. Mahendra Kumar Goyal, the CEO of ANAND.

About ANAND Group

Founded in 1961, ANAND is a US$2.4 billion conglomerate, highly acclaimed in the manufacture of world class products and systems for the automotive industry. The group comprises 31 operating companies, including 13 joint venture companies and 4 technical collaborations and has championed the idea of 'Make in India' since its inception. The group designs and manufactures technologically advanced products and solutions in ride control, motors, drive train, climate control, engine cooling, brake systems, sunroofs, sealants and adhesives, electric motors, safety products, and electric power steering, among others for India and the world.

The Group is spread over 75 locations in India, and employs more than 21,000 people.

About Gabriel India

Established in 1961, Gabriel India Limited is the flagship company of the ANAND Group and one of India's most trusted names in automotive component manufacturing. With a legacy spanning over six decades, Gabriel has evolved as a market leader in ride control products, including shock absorbers, struts, and front forks, serving every major automotive segment - two and three-wheelers, passenger cars, commercial vehicles, and railways.

Gabriel India's products are manufactured across nine state-of-the-art plants, supported by three satellite facilities, with a cumulative production capacity of 60 million units per year. With a footprint across 25 countries and trusted partnerships with leading OEMs, including those in the growing electric vehicle (EV) segment, Gabriel continues to be at the forefront of India's mobility revolution.

About SK Enmove

SK Enmove is a leading Korean energy and lubricants company and a subsidiary of SK Group, one of South Korea's largest conglomerates with over USD 250 billion in assets. A global leader in premium lubricants and energy solutions, SK Enmove serves diverse industrial and automotive applications across multiple geographies. Its innovative products and technologies are trusted by OEMs and consumers worldwide.

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