Gateway Distriparks Limited — Investor Meet, 03-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Gateway Distriparks reported one-off impacts including a Rs. 12.8 Cr stamp duty provision and a Rs. 258 Cr impairment on Snowman goodwill, with Snowman contributing Rs. 145 Cr revenue, Rs. 25 Cr EBITDA, and Rs. 3.5 Cr PAT post consolidation. Rail volumes steady (~92-93K TEUs/qtr) with improving market share in Ludhiana and Kashipur; Faridabad double stacking at 41%. Snowman’s warehouse margins dipped to ~11% due to low-margin volumes and a key customer exit; 5PL revenue rose but margins compressed to 6-8% amid new clients like Unilever. Capex plans include Rs. 100-150 Cr for Snowman and Rs. 30 Cr for Gateway annually. Management is cautious on rail share gains pending port and DFC improvements, focusing on selective growth and margin control in a flat volume scenario.