Rail margin maintained at Rs. 9200+/TeU levels
Key triggers for future price performance
- Revenues grew 28% YoY to Rs. 336 crore (46% rail volume growth)
- EBITDA grew 40% YoY to Rs. 91 crore with margins at 27.1% (vs. 24.9% in Q2FY21)
- Subsequently, PAT came in at Rs. 47 crore vs. Rs. 4 crore in Q2FY21
- Along with the better turnaround times, we expect higher double stacking on the route (both export and import direction) in the near term, de-bottlenecking at critical junctions and electrification of the entire route (from GPPL, Mundra to NCR region) in the medium to long term; leading to higher road to rail shift.
- Debt and interest expense are expected to reduce significantly from FY23E onwards, with payments to NCD holders and renegotiation of higher interest yields with debt holders
- The management expects to reach Rs. 10000/TeU margins in the medium term and at the same time reach 1 lakh TeU/quarterly rail volume run-rate. This would translate into strong FCF generation (>9% yield in FY23E)
For details, click on the link below: Link to the report
Shares of Gateway Distriparks Limited was last trading in BSE at Rs. 262.05 as compared to the previous close of Rs. 264.80. The total number of shares traded during the day was 619054 in over 927 trades.
The stock hit an intraday high of Rs. 276.90 and intraday low of 259.00. The net turnover during the day was Rs. 166190506.00.
Source : Equity Bulls