Gabriel India on Tuesday unveiled Project Jupiter, a ₹3,166-crore plan to acquire 28.99 per cent of HL Mando Anand India for ₹2,231 crore and 30 per cent minus one share of HL Klemove India for $98.44 million, or about ₹935 crore, deepening its Korean technology ties, the company said in a regulatory filing.Gabriel is the listed flagship of the $2.2-billion ANAND Group. The investments add HL Mando and HL Klemove to existing Korean partnerships with CY Myutec, Jinhap and SK Enmove. Gabriel’s wider global alliance network includes Dana, Henkel and Inalfa Roof Systems.“These investments strengthen Gabriel India’s position as a comprehensive mobility platform by bringing together complementary capabilities across the automotive value chain,” Executive Chairperson Anjali Singh said.OEM wallet widensThe strategic shift is towards selling more products to the same carmakers and increasing Gabriel-linked content per vehicle.HL Mando supplies steering, braking and suspension systems to Hyundai, Kia, Mahindra, Tata Motors, Maruti Suzuki, MG and Isuzu. HL Klemove adds radars, cameras and ADAS control units, with Hyundai-Kia-linked localisation disclosed in India.Maruti, Mahindra and Tata are already Gabriel customers, creating an immediate cross-selling opportunity. Hyundai, Kia, MG and Isuzu broaden the company’s OEM reach. Gabriel can now approach automakers with a broader package: suspension from Gabriel, steering and brakes from HL Mando, and safety electronics from HL Klemove.Gabriel and ANAND businesses already supply several of these customers with sunroofs, fasteners, driveline components, fluids and adhesives. The companies will remain separate joint ventures and associates, but Gabriel becomes the common listed platform coordinating the wider product offering. No fresh orders from these OEMs have been announced.Multiple TechnologiesHL Mando adds more than steering and brakes. Its portfolio includes suspension modules and smart-damping systems. HL Klemove brings radars, cameras, LiDAR, automated-driving and parking-control units, ADAS software, chassis controllers and steering and braking ECUs.Together with existing businesses, the platform can address a larger portion of a vehicle: the sunroof through Inalfa Gabriel; structural adhesives and noise-management products through Henkel Anand; fasteners through Jinhap Gabriel; axles, driveshafts and transmission components through Dana Anand and CY Myutec; and coolants, lubricants and EV thermal fluids through Anchemco and SK Enmove.Project Jupiter therefore takes Gabriel beyond suspension hardware towards the roof, body, chassis, driveline, fluids and electronic-safety systems of the same vehicle.The company has not disclosed a rupee estimate for content per vehicle. Its stated opportunity is to cross-sell a wider component basket through common OEM relationships while acquiring technology that would take years to develop internally.“Gabriel has been the principal growth engine for Anand Group’s automotive business,” Group CEO and Managing Director Mahendra K. Goyal said.Earnings and fundingHL Mando Anand, which has three plants near Chennai, reported FY26 revenue of ₹5,886 crore, adjusted EBITDA of ₹639 crore and PAT of ₹358 crore. Gabriel expects the investment to deliver about 13 per cent EPS accretion on a pro-forma FY26 basis, incremental to the approximately 38 per cent accretion achieved through Project Rise.HL Klemove India, which operates near Chennai with more than 400 employees, reported FY26 revenue of ₹1,049 crore and adjusted EBITDA of ₹129 crore. Gabriel will pay 75 per cent of the Klemove consideration, or about ₹701 crore, by September 15 and the remaining ₹234 crore within 18 months, funding the purchase through internal accruals and debt.For HL Mando, Gabriel will pay ₹350 crore in cash and issue ₹1,881 crore of shares to promoter Asia Investments. Promoter ownership will rise from 63.55 per cent to 66.29 per cent, while public ownership will decline from 36.45 per cent to 33.71 per cent.HL Klemove will retain control with 70 per cent plus one share. Gabriel will have four of the 10 board seats and affirmative rights over specified decisions.₹50,000-crore ambitionProject Jupiter follows Project Rise, which transferred several ANAND Group automotive businesses and investments to Gabriel. On the 100 per cent portfolio-revenue basis used by the company, businesses under Gabriel represented ₹4,667 crore of FY26 revenue before Rise, ₹9,176 crore after Rise and would reach ₹16,111 crore after Jupiter.After Jupiter, Gabriel-associated businesses would represent about 70 per cent of ANAND Group’s ₹23,049-crore automotive revenue, compared with 21 per cent before Rise.The move supports ANAND’s ambition of reaching ₹50,000 crore in group revenue by 2030, while positioning Gabriel as its preferred listed vehicle for future automotive investments.Gabriel closed FY26 with restated consolidated revenue of ₹5,245.19 crore, up 29.1 per cent, and EBITDA of ₹516.2 crore, up 31.8 per cent. Q1 FY27 revenue rose 15.5 per cent to ₹1,425.68 crore, while EBITDA grew 2.3 per cent to ₹124.2 crore. The margin fell to 8.7 per cent from 9.8 per cent, and PAT increased 2.5 per cent to ₹108.13 crore.Alongside the transactions, Gabriel appointed Goyal as Executive Director, Group CEO and Managing Director for five years, subject to shareholder approval. Atul Jaggi was redesignated Managing Director (Ride Control).Published on July 22, 2026