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Gateway Distriparks announces Q-4 and FY2018-19 results

Posted On: 2019-05-14 16:49:24

Highlights

- GDL consolidated revenue for FY19 up by 8.34 % to INR. 443.39 crores
- GDL Consolidated EBITDA for FY19 up by 15.72 % to INR. 160.02 crores
- GDL received INR. 12.81 crores as SEIS benefit for FY 2015-16
- GatewayRail revenue for FY19 up by 9.34 % to INR. 877.65 crores
- GatewayRail EBITDA for FY19 up by 21.46 % to INR. 211.11 crores
- GatewayRail received INR. 69.33 crores as SEIS benefit for FY 2016-17 & FY 2017-18

During the quarter ended March 31, 2019, on a consolidated basis, Gateway Distriparks Limited recorded a revenue of INR. 124.13 crores as against INR. 106.64 crores for the same period in the previous year, registering a 16.41% growth. EBITDA excluding exceptional item increased to INR. 50.56 crores from INR. 46.46 crores registering a 8.83% growth for the same period in the previous year, PBT excluding exceptional item increased to INR. 39.47 crores from INR. 35.08 crores in the corresponding quarter of the previous year, registering a growth of 12.52%. PAT, including an exceptional item of INR. 280.48 crores, increased to INR. 300.77 crores from INR. 32.45 crores in the corresponding quarter of the previous year registering a positive growth of 826.84%. The exceptional amount was due to gain in investment of GDL in Gateway Rail Freight Limited (GatewayRail). SEIS (Service Exports from India Scheme) benefit of Rs. 12.81 was received for FY 2015-16 which is included. In addition, an SFIS (Served from India Scheme) license has also been received of Rs. which can be used against import of handling equipment such as reach stackers and empty container handlers.

On an annual basis, consolidated revenue during 2018-19 was INR. 443.39 crores as against INR. 409.26 crores during the previous year, registering a growth of 8.34%. Consolidated EBITDA excluding exceptional items increased to INR. 160.03 crores from INR. 138.29 crores, registering a growth of 15.72%, Consolidated PBT excluding exceptional items increased to INR. 114.67 crores from INR. 97.11 crores during the previous year, a growth of 18.09% and consolidated PAT including exceptional item of INR. 280.48 crores increased to INR. 395.15 crores from INR. 83.16 crores during the previous year, registering a growth of 306.93%. The exceptional amount was due to gain in investment of GDL in GatewayRail.

GatewayRail - Revenue for the quarter ended 31 March 2019 was INR. 240.41 crores as against INR. 226.39 crores during the corresponding quarter ended 31 March 2018. EBITDA was INR. 67.10 crores as against INR. 65.38 crores, PBT was INR. 49.34 crores as against INR. 47.74 crores and PAT was INR. 36.65 crores as against INR. 39.62 crores in the corresponding quarter. On an annual basis, revenue was INR. 877.65 crores as against INR. 788.8 crores during the previous year. EBITDA was INR. 211.11 crores as against INR. 173.81 crores, PBT was INR. 139.18 crores as against INR. 97.55 crores and PAT was INR. 111.32 crores as against INR. 83.18 crores. SEIS benefit of Rs. 69.33 was received for FY 2016-17 & FY 2017-18 which is included.

Snowman Logistics Limited - Revenue for the quarter ended 31 March 2019 was INR. 59.80 crores as against INR. 51.82 crores for the same period in the previous year. EBITDA increased to INR. 18.14 crores from INR. 15.78 crores, PBT increased to INR. 5.45 crores from INR. 3.15 crores and PAT increased to INR 5.42 crores from INR 1.88 crores. On an annual basis, revenue during 2018-19 was INR. 232.55 crores as against INR. 194.28 crores, EBITDA increased to INR. 62.24 crores from INR. 48.31 crores, PBT increased to INR.10.86 crores from a loss of INR. 3.56 crores during the previous year, and PAT increased to INR.9.72 crores from a loss of INR. 3.56 crores during the previous year.

Commenting on the results, Mr. Prem Kishan Gupta, Chairman & Managing Director, said "All the verticals showed improved performance in both Q-4 and FY19. Despite the effect of Direct Port Delivery Scheme, overall container volumes have grown for the group and GDL has improved its market share. GatewayRail continues to increase its carrying capacity and is now operating 28 train sets. Our Viramgam rail terminal, currently operating as a double stacked switching location, is expected to also start ICD operations for handling EXIM volumes of the Ahmedabad - Sanand region in the next quarter. Also, a key development for the group is the acquisition of the private equity investor's shareholding in GatewayRail, taking GDL's ownership in GatewayRail to 99.93%, which is now allowing for higher synergies between group companies on both operational and commercial fronts. Snowman has displayed excellent results with an average 87% utilisation along with increase in margins. Going ahead, the GDL group is planning to expand for both rail-linked ICDs and cold storage facilities for which locations are already being identified."

Shares of GATEWAY DISTRIPARKS LTD. was last trading in BSE at Rs.130.65 as compared to the previous close of Rs. 124.1. The total number of shares traded during the day was 35135 in over 1151 trades.

The stock hit an intraday high of Rs. 134.6 and intraday low of 119.4. The net turnover during the day was Rs. 4535247.


Source: Equity Bulls

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