Gateway Distriparks registers 215% revenue growth in Apr-Dec 2019

January 23, 2020: The integrated intermodal logistics provider, Gateway Distriparks' revenue increased by 215% to Rs 1,005.4 crore in nine months from April to December 2019 compared to Rs 319.3 crore of last year.

EBITDA increased by 279% to Rs 261.5 crore from Rs 69.1 crore in the same period. PBT and PAT hiked by 27% and 43% respectively for the nine months.

Highlights

• GDL sold 40.25 percent stake in Snowman Logistics for Rs 295.9 crore to Adani Logistics in December 2019.
• GDL sold entire stake in subsidiary company Chandra CFS in Chennai for Rs 48.4 crore to Team Global in December 2019.
• GDL partly redeemed debentures of Rs 50 crore along with interest on January 20, 2020.

Q3 results of Gateway Distriparks

During the quarter ended in December 2019 alone GDL recorded total income of Rs 304.5 crore as against Rs 104.9 Crores for the same period in the previous year, registering a growth of 190 percent. EBITDA increased by 210 percent to Rs 66.1 crore for the Q3 current year from Rs 21.3 crore in Q3 previous year. The increase is due to the consolidation of results as GDL increased its shareholding in GatewayRail. Consolidated PBT reduced by 26 percent to Rs 14.4 Crores from Rs 19.5 crore. PAT before minority increased to Rs 16.4 crore from Rs 16.3 crore in the corresponding quarter of the previous year.

Q3 results of Gateway Rail Freight

Gateway Rail Freight recorded total income of Rs 214 crore for the quarter as against Rs 193.4 crore for the same period in the previous year. EBITDA increased to Rs 45.2 crore from Rs 35.9 crore. PBT increased to Rs 19.8 crore from Rs 17.7 crore and PAT increased to Rs 19.3 crore from profit of Rs 16.2 crore in the corresponding quarter of the previous year.

To focus on CFS, ICD and Rail businesses

Prem Kishan Gupta, chairman & managing director, Gateway Distriparks said “The company is on track towards its debt reduction strategy, by completing the transaction for sale of Chandra CFS and entering into a Share Purchase Agreement for sale of our entire stake in Snowman Logistics which is expected to be closed during the financial year. Now, the company will focus on unifying its operations between the CFS, ICD and Rail businesses which will bring efficiencies by leveraging our combined assets and management, as well as allow us to offer solutions to our customers on a single platform."

"While there is a slowdown in international trade, particularly in terms of exports from India, the company has fared well and has been able to maintain its lead position in terms of market share in each of its verticals. With our network, ready infrastructure and alignment with the Western Dedicated Freight Corridor, we are well-positioned to capture the growth once there is an improvement in the macroeconomic factors,” he added.

Gateway Distiparks

GDL Group is an integrated inter-modal logistics service provider. It operates 6 Container Freight Stations in Nhava Sheva, Chennai, Vishakhapatnam, Kochi and Krishnapatnam. GatewayRail provides rail transport service through its 4 Inland Container Depots (ICD) at Gurgaon, Faridabad, Ludhiana, Ahmedabad and a Domestic Container Terminal (DCT) at Navi Mumbai. GDL and GatewayRail together have a capacity to handle over 2 million TEUs per annum with 31 train sets and, 500+ trailers across its 11 Container Terminals.