Dolat Capital: Gateway Distriparks Logs Good Quarter; Rights Issue To Help Debt Reduction

Dolat Capital: Gateway Distriparks Logs Good Quarter; Rights Issue To Help Debt Reduction

A reach stacker unloads a shipping container from a truck at the Hanjin Newport Co. (HJNC) terminal, a unit of Hanjin Group, at Busan New Port in Busan, South Korea (Photographer: SeongJoon Cho/Bloomberg)  

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Dolat Capital Report

Gateway Distriparks Ltd. reported good performance. Sales (Rail+ CFS (Container Freight Stations) declined by 20% YoY to Rs 2.5 billion, driven by a 25% decline in the rail segment, while CFS reported a decline of 5%.

CFS volume fell approximately 40% YoY, while Rail volumes fell 22% YoY.

Ebitda was at Rs 699 million, up 28% YoY (Adjusted of Service Export from India Scehme (SEIS) income in Q1 FY20), due to a rise of 14% YoY in rail and 53% YoY in the CFS segments.

Overall margins were 27.6%, driven by better operating cost efficiency. CFS/rail reported margins of 30.2%/25.8%, respectively. Profit after tax stood at Rs 111 million down 51% YoY.

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Dolat Capital Gateway Distripark Q1FY21 Result Update.pdf
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