Heat oven to 400°F. Cut beef steak lengthwise in half, then crosswise into 1/4-inch thick strips. Heat oil in large ovenproof skillet over medium-high heat until hot. Add 1/2 of beef; stir-fry 1 to 2 minutes or until outside surface of beef is no longer pink. Remove. Repeat with remaining beef. Combine mushrooms, onion, 1/4 cup water and garlic in same skillet. Cook and stir 3 minutes or until onion is tender. Stir in gravy, vegetables and thyme; bring to a boil. Remove from heat; stir in beef. Cut biscuits in half; arrange in a ring on top of beef mixture. Bake in 400°F oven 12 to 14 minutes or until biscuits are golden brown. Makes 6 servings.