Throughput in Q1FY25 was down by
4.71%YoY (to 171425 TEUs) with the throughput of Rail Vertical down by 8.78%
(to 82043 TEUs) and that of CFS down by marginal 0.64%YoY (to 89382 TEUs).Operating profit margin has declined from 25.81% to 24.04%, leading to 11.03% decline in operating profit to Rs 84.88 crore. Employee cost increased from 5.04% to 5.61%. Other expenses rose from 69.16% to 70.35%. Other direct service cost rose from 61.94% to 63.38%. Other income fell 12.02% to Rs 4.54 crore. PBIDT fell 11.08% to Rs 89.42 crore. Provision for interest rose 1.87% to Rs 11.47 crore.
PBDT fell 12.71% to Rs 77.95 crore. Provision for depreciation rose 4.70% to Rs 26.06 crore.
Profit before tax down 19.44% to Rs 51.89 crore. Share of profit/loss was 42.40% lower at Rs 0.72 crore. Provision for tax was expense of Rs 3.54 crore, compared to Rs 1.93 crore. Effective tax rate was 6.73% compared to 2.94%.
Minority interest decreased 48.72% to Rs 0.40 crore. Net profit attributable to owners of the company decreased 22.68% to Rs 48.67 crore.
Full year results analysis.
Net sales (including other operating income) of Gateway Distriparks has increased 8.11% to Rs 1536.13 crore. Operating profit margin has declined from 25.93% to 24.71%, leading to 3.03% rise in operating profit to Rs 379.62 crore. Employee cost increased from 4.67% to 4.89%. Other expenses rose from 69.40% to 70.40%. Other direct service cost rose from 62.31% to 62.95%. Other income fell 22.77% to Rs 17.06 crore. PBIDT rose 1.57% to Rs 396.68 crore. Provision for interest rose 1.72% to Rs 46.08 crore. Loan funds declined from Rs 530.19 crore as of 31 March 2023 to Rs 510.11 crore as of 31 March 2024. Sundry debtors were higher at Rs 155.50 crore as of 31 March 2024 compared to Rs 136.95 crore as of 31 March 2023. Cash and bank balance declined from Rs 75.98 crore as of 31 March 2023 to Rs 22.23 crore as of 31 March 2024. Investments rose to Rs 204.31 crore as of 31 March 2024 from Rs 141.01 crore as of 31 March 2023 .
PBDT rose 1.55% to Rs 350.6 crore. Provision for depreciation fell 8.68% to Rs 94.92 crore. Fixed assets increased to Rs 1,597.91 crore as of 31 March 2024 from Rs 1,562.40 crore as of 31 March 2023. Intangible assets increased from Rs 348.99 crore to Rs 360.28 crore.
Profit before tax grew 5.96% to Rs 255.68 crore. Share of profit/loss was 12.65% higher at Rs 5.61 crore. Provision for tax was expense of Rs 3.03 crore, compared to Rs 4.38 crore. Effective tax rate was 1.16% compared to 1.78%.
Minority interest increased 1.50% to Rs 2.03 crore. Net profit attributable to owners of the company increased 6.81% to Rs 256.23 crore.
Management Comments :
Prem Kishan Dass Gupta, Chairman & Managing Director, said, “Volumes continue to be impacted by the global Red Sea crisis, which has disrupted supply chains and increased ocean freight rates. At the same time, due to our network advantage we have been able to maintain our market share despite the challenges and remain focused on providing efficient multimodal solutions for our customers. We continue to explore opportunities for developing new rail terminals to further expand our network.”
Others
The Company has declared First Interim Dividend for FY25 of Rs. 1.25 per share.
Equity capital stood at Rs 499.64 crore as of 31 March 2024 to Rs 499.64 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 32.32% as of 31 March 2024 ,compared to 32.32% as of 31 March 2023 .
Cash flow from operating activities decreased to Rs 321.45 crore for year ended March 2024 from Rs 324.17 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 75.51 crore, compared to Rs 215.80 crore during the year ended March 2023.
| Gateway Distriparks : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 353.11 | 369.69 | -4.48 | 1,536.13 | 1,420.94 | 8.11 | | OPM (%) | 24.04 | 25.81 | -177 bps | 24.71 | 25.93 | -122 bps | | OP | 84.88 | 95.40 | -11.03 | 379.62 | 368.45 | 3.03 | | Other Inc. | 4.54 | 5.16 | -12.02 | 17.06 | 22.09 | -22.77 | | PBIDT | 89.42 | 100.56 | -11.08 | 396.68 | 390.54 | 1.57 | | Interest | 11.47 | 11.26 | 1.87 | 46.08 | 45.30 | 1.72 | | PBDT | 77.95 | 89.30 | -12.71 | 350.60 | 345.24 | 1.55 | | Depreciation | 26.06 | 24.89 | 4.70 | 94.92 | 103.94 | -8.68 | | PBT | 51.89 | 64.41 | -19.44 | 255.68 | 241.3 | 5.96 | | Share of Profit/(Loss) from Associates | 0.72 | 1.25 | -42.40 | 5.61 | 4.98 | 12.65 | | PBT before EO | 52.61 | 65.66 | -19.88 | 261.29 | 246.28 | 6.09 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 52.61 | 65.66 | -19.88 | 261.29 | 246.28 | 6.09 | | Taxation | 3.54 | 1.93 | 83.42 | 3.03 | 4.38 | -30.82 | | PAT | 49.07 | 63.73 | -23.00 | 258.26 | 241.9 | 6.76 | | Minority Interest (MI) | 0.4 | 0.78 | -48.72 | 2.03 | 2 | 1.50 | | Net profit | 48.67 | 62.95 | -22.68 | 256.23 | 239.9 | 6.81 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 48.67 | 62.95 | -22.68 | 256.23 | 239.9 | 6.81 | | EPS (Rs)* | 0.97 | 1.26 | -22.68 | 5.13 | 4.80 | 6.81 | | | * EPS is on current equity of Rs 499.64 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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