Gateway Distriparks Reports Higher Profits

 

Gateway Distriparks Limited (GDL) today announced record profits for the year ended 31 March 2015.
 
During the year, GDL Group (CFS + Rail + Cold Chain) Net Profit increased by 38.2% over the previous year from Rs 135.8 Cr. to Rs 187.8 Cr. Q4 net profit increased (Y-o-Y) by 21.1% to Rs 48.8 Cr. This is indeed a creditable performance in view of strong competition and an insipid economy generally.
 
Group’s EBITDA for Q4 increased from Rs 67.6 Cr. to Rs 92.8 Cr., whilst EBITDA for the whole year increased from Rs 264.8 Crores to Rs 355.4 Crores.  In line with the robust operating numbers, PBT increased from Rs 166.2 Crores to Rs 238.4 Crores whilst PAT increased from Rs 135.8 Crores to Rs 187.8 Crores.
 
Consolidated audited results Accounts exclude the numbers for Snowman (Except the 40 % interest in net profit) which, on its listing during the year, ceased to be a subsidiary. The Group’s Balance Sheet also strengthened substantially in view of the better performance.
 
All three businesses performed better in Q4.  The container freight business saw profit after tax but before minority interest increase 29% to Rs 18.4 Crores. The best performance came from Rail operations where PBT and PAT increased by almost 100% to Rs 119.2 Crores and Rs 104.9 Crores respectively.  This spectacular growth is a record for our Rail operations and augurs well for the Group’s future.  As the economy grows Rail should be able to grow in tandem and see even better results.
 
Snowman also saw growth but not at the same levels.  PBT and PAT grew by 7.6% and 10% respectively.  As this Company continues to expand, capital outlays are incurred which affect the Company’s bottom line.  The good reception which the market gave to Snowman which was listed during the year manifests the confidence in the growth in the cold chain sector going forward.  Snowman will be adding 30,000 pallets in FY16 to the 85,500 pallets it now has.  It will continue to expand as it explores new businesses and new niches for its established area of its activities.
 
In keeping with its pole position as the leader in the private sector in all three verticals, it is clear that the Group will continue to expand its businesses for the benefit of all its stakeholders.
 
The Company’s Balance Sheet remains strong.  Net fixed assets stand at Rs 1,026 Cr.  This excludes Snowman numbers.  Cash and equivalents increased from Rs 133 Cr. to Rs 155 Cr. during the year.  The Company is happy to announce a second interim dividend of Rs 3 per share.  The total dividend for the year comes to Rs 7 a share which is the same as in the preceding year.
 
The Chairman, in his message on the results said that he was pleased with the performance of the Group and remains confident that the Group will continue to grow and strengthen its position in the future.
 
The Company is sad to see its founding Chairman stepping down.  He has played a major role in seeing the Company grow from its origins when it had only the CFS business which was built from scratch under his able leadership and guidance.  He has been a hands-on leader of the Group and we will miss his dedication and commitment.  The Company is confident that Mr Prem Kishan Gupta who has been the Managing Director from the start of the Company and who has been unanimously elected Chairman will make a great Chairman and lead the Company to new heights.  The Company wishes Mr Pillai good health going forward in his retirement and welcomes Mr Gupta as the new Chairman.

($1 = Rs 63)