Gateway Distriparks Q4 Review - Rail Ebitda A Positive Surprise: ICICI Securities
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ICICI Securities Report
Gateway Distriparks Ltd.’s Q4 FY21 result witnessed higher than expected topline and Ebitda.
Topline at Rs 3.5 billion was up 17% YoY (our estimate 3.2 billion) and Ebitda was up 48% YoY.
Rail segment Ebitda/twenty-foot equivalent surprised with 32% YoY and 10% QoQ jump in Ebitda/teu to Rs 9,926/teu.
An increase in rail share for export-import transportation continues to help players like Gateway Distriparks.
Net debt continues to reduce from Rs 4.9 billion to Rs 4.4 billion QoQ.
Management reiterated its plans to spend approximately Rs 2 billion of capex for satellite terminals around the National Capital Region to help increase the company's market share.
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