Gateway Distriparks Ltd Research ReportStock Tales

Rail business to enhance financial performance… GDL has a diversified presence in logistics verticals like container train operators (CTO), cold chain logistics, container freight stations. Expected commissioning of Dedicated Freight Corridor (DFC) will position its CTO business in a sweet spot with multiple improvement in operational parameters enabling sustained revenue growth coupled with improved margins owing to enhanced operational efficiencies. Also, a gradual recovery of CFS segment and enhanced profitable growth in cold chain logistics (enhanced utilisation & better profitability owing to increased focus on pharma, other value added user industries) would lead to improved financial performance in FY20-23E. We estimate a revenue, EBITDA, PAT CAGR of 5%, 9%, 15% to | 1493 crore, | 406 crore, | 159 crore, respectively,Rail business to enhance financial performance… GDL has a diversified presence in logistics verticals like container train operators (CTO), cold chain logistics, container freight stations. We estimate a revenue, EBITDA, PAT CAGR of 5%, 9%, 15% to | 1493 crore, | 406 crore, | 159 crore, respectively, with accentuated margin profile of 27% in FY23E (vs. 24% in FY20).