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Gateway Distriparks Ltd Stock Analysis

Small Cap
Evaluated by 1681 users | BSE: 532622 | NSE: GDL |
Logistics
Gateway Distriparks (GDL), incorporated in 1994 is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form. The company is a joint venture between NTSC, Parameshwara Holdings, Windmill...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Gateway Distriparks Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 12.58%12.05%8.5%5.85%12.23%9.56%6.37%5.17%8.11%8.28%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 186226206196276331321328367370
Y-o-Y Gr. Rt.-21.3%-8.9%-4.8%40.7%19.8%-2.8%2.1%11.8%0.8%
Adjusted EPS (Rs.) 7.647.435.163.327.236.434.583.47.425.25
Y-o-Y Gr. Rt.--2.8%-30.6%-35.7%117.8%-11.1%-28.8%-25.8%118.2%-29.3%
Book Value per Share (Rs.) 61.0761.8159.1854.5961.5870.568.636467.3464.03
Adjusted Net Profit 84.882.757.637.180.871.951.2388358.7
Net Op. Cash Flow (Rs. Cr.) 14.296.483.260.473.233.544.464.854.8118
Debt to Cash Flow from Ops 0.840.090.280.650.540.752.081.811.614.84
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Gateway Distriparks Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 7.9%6%4.8%0.8%
Adjusted EPS -4.1%-6.2%4.7%-29.3%
Book Value per Share 0.50.8-2.3-4.9
Share Price -0.9% -18.8% -20.6% -7.3%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 12.5912.098.545.8412.459.746.585.1311.317.99
Operating Profit Margin (%) 52.0356.2344.7936.6639.6123.8319.4918.7318.2432.67
Net Profit Margin (%) 45.5436.627.9818.9329.2921.7515.9311.5922.6315.87
Debt to Equity 0.020.020.030.060.060.030.120.160.850.8
Working Capital Days 43430623420217114612111090134
Cash Conversion Cycle -6-26910121071-15
Entity Percentage Holding
Promoters 32.14%
Institutions 54.04%
Non-Institutions 13.82%
Pledged *23.3330.9530.9530.6619.9319.9319.810.0918.6916.70
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Gateway Distriparks Ltd and arrived at the following conclusion:

Past 10 year's financial track record indicates that Gateway Distriparks Ltd is a average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Gateway Distriparks Ltd's performance infers:

Gateway Distriparks Ltd earnings have declined by -6.2%, whereas share price has depreciated -18.8% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Gateway Distriparks Ltd share prices over the last 10 years. Here is what we found out:

Gateway Distriparks Ltd share price has depreciated 1.6% annually over the past ten years.

Gateway Distriparks (GDL), incorporated in 1994 is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form. The company is a joint venture between NTSC, Parameshwara Holdings, Windmill International and Thakral Corporation.

The company operates container freight stations (CFS) located at Dronagiri, Navi Mumbai, New Manali, Chennai, Vishakapatnam and Inland Container Depot at Garhi Harsaru

Gateway Distriparks (GDL), incorporated in 1994 is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form. The company is a joint venture between NTSC, Parameshwara Holdings, Windmill International and Thakral Corporation.

The company operates container freight stations (CFS) located at Dronagiri, Navi Mumbai, New Manali, Chennai, Vishakapatnam and Inland Container Depot at Garhi Harsaru (near Delhi) and Haryana.

GDL owns subsidiaries namely Gateway East India, Visakhapatnam, Gateway Distriparks (South), New Manali, Chennai, Gateway Rail Freight, New Delhi, Gateway Distriparks (Kerala) and Snowman Frozen Foods.

Gateway Distriparks’s CFS at Mumbai, ICD at Garhi, CFS at Vizag and the CFS at Chennai operate as the four hubs for company that cater to the demand of traffic in western, northern, eastern and southern regions of India respectively. These hubs has led the company to emerge as only private sector CFS operator that has a Pan-India presence.

The container freight station (CFS)/inland container depot (ICD) of the company’s CFS located at Navi Mumbai is spread over in area of 14 hectares and has a capacity to handle 216,000 TEU’s per annum.

GDL’s CFS located at Vishakapatnam, established in August 2005, has a capacity to handle 30000 TEU’s per annum.

CFS situated at Chennai spread over in area 7.5 hectares that has a capacity to handle 40000 TEU’s, is located at a distance of 16km from Chennai Port.

The company’s ICD located at Garhi Harsaru, is spread over in area of 31 hectares. This ICD is road-linked and caters to the rich hinterlands of Northern India, including Delhi, Haryana, Punjab and Rajasthan.

Milestones

1994- Gateway Distriparks was incorporated.

1998- The company completes phase I development and establish commercial operations at Navi Mumbai Container handling capacity at 48,000 TEUs per annum. 

2001- GDL completes phase II expansion at Navi Mumbai Container handling capacity to 120,000 TEUs/annum. IDFC acquire equity stakes worth Rs. 260 mn into GDL.

2003- The company finishes phase III expansion at Navi Mumbai Container handling capacity increases to 180,000 TEUs/annum.  

2005- The company received approval from Indian Railways for operating bulk trains railway siding constructed at ICD, Gurgaon. The company gets listed on the Stock Exchanges in India on 31 March 2005. GDL issues GDR worth $85 million. May.

2006- First container train rolls out of GDL’s Rail ICD at Garhi Harsaru, Gurgaon through the tie-up with CONCOR

July 2006- Rail SPV, Gateway Rail Freight (GRFL) was formed; over 60 acres of land was acquired in Faridabad District for the second Rail ICD

September 2006- The company enters into a joint venture with Chakiat to form subsidiary – Gateway Distriparks (Kerala) for operation of a CFS on 17 acres of land located at Cochin.

November 2006- The company acquired 50.1% equity stake in Snowman Frozen Foods to enter cold chain logistics business in JV with Mitsubishi. 

January 2007- Gateway Rail Freight enters a concession agreement with Indian Railways to operate container trains.

February 2007- GDL takes over Punjab Conware’s CFS located near JNPT, Navi Mumbai under 15 years’ Operation and Management (O&M) basis agreement.

March 2007- Gateway Rail (51%) and Concor (49%) form a joint venture to jointly operate rail linked ICD at Garhi Harsaru and facilitate rail movement of containers

March 2008-Gateway Rail Freight receives and deploys 8 container trains.

Future Strategy

Gateway Distriparks plans to construct a fourth rail-linked cargo terminal in Faridabad. The project will require investment of Rs 350 million in period of two years, out of which Rs150 million will be spent by March 2010.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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