Gateway Distriparks Ltd announces FY2020 performance

Gateway Distriparks Limited (GDL) a leading integrated inter-modal logistics facilitator in India today announced its audited financial results for the quarter and full year ended March 31st, 2020.

FY20 Consolidated performance

- Total Income increases by 195.4% from Rs. 443 Crores to Rs. 1,310 Crores YoY
- EBITDA excl. Exceptional items increased by 247.7% from Rs. 95.2 Crores to Rs. 331 Crores;
- EBITDA Margin at 25.3% compared to 21.5% YoY
- PBT before Exceptional item at Rs. 95 Crores
- Paid interim dividend of 45% (Rs. 4.50 per equity share) for FY 2019-20 in March 2020
- Prepayment of NCDs worth Rs. 110 Crores (including interest) over last 6 months

Other highlights:

- The increase in Total Income and EBITDA is due to the consolidation of results of GRFL with GDL
- Capex incurred during FY20 stood at Rs. 49.4 Crores majorly for the rail transportation business
- Prepaid NCD's worth Rs. 110 Crores
- Rs. 50 Crores (including interest) on January 20, 2020
- Rs. 60 Crores (including interest) on May 21, 2020
- Net Debt as on March 31, 2020 stands at Rs. 681 Crores as against Rs. 747 Crores as on March 31, 2019
Gateway Rail Freight Limited FY20 financial performance:
- Revenues were Rs. 868.6 Crores
- EBITDA was Rs. 187.6 Crores and EBITDA margin stood at 21.6%
- PAT was Rs. 91.3 Crores and PAT Margin stands at 10.5%

CFS business FY20 financial performance:

- Revenues were Rs. 423.3 Crores
- EBITDA was Rs. 136.9 Crores with an EBITDA margin of 32.3%
- PAT was Rs. 23.7 Crores and PAT Margin stands at 5.6%

Snowman Logistics FY20 financial performance:

- Revenues were Rs. 240.2 Crores
- EBITDA was Rs. 63.4 Crores and EBITDA margin stood at 26.4%
- PAT was Rs. -15.4 Crores

Commenting on the performance, Mr. Prem Kishan Gupta, Chairman & Managing Director, commented, "Our financial performance in such challenging times has been satisfactory. Our profitability margins remained intact and we have been able to maintain a healthy financial position thereby meeting our financial obligations in a timely manner. We have prepaid Rs. 110 crores of Non-Convertible Debentures in the last six months which are due in April 2021, thereby reducing our debt and our focus towards further deleveraging our balance sheet continues.

An upsurge in domestic demand and the likelihood of global firms shifting their manufacturing base to India, will also propel growth of our industry in the times to come. Also, Rail as a mode of transport has been resilient during the lockdown period thereby establishing itself as more reliable in comparison to Road. The commissioning of Dedicated Freight Corridor will further improve the attractiveness of the container rail business.

With the CFS and ICD linked Rail business under one roof, we have geared ourselves for future growth backed by our state-of-the-art infrastructure, strategically located facilities and comprehensive service offerings."

Shares of GATEWAY DISTRIPARKS LTD. was last trading in BSE at Rs.82.75 as compared to the previous close of Rs. 82.05. The total number of shares traded during the day was 9548 in over 244 trades.

The stock hit an intraday high of Rs. 83.5 and intraday low of 81.85. The net turnover during the day was Rs. 787506.

Source : Equity Bulls

Keywords