Gateway Distriparks (GATEWAY) Q1 25/26 earnings summary

Executive summary

• Strong year-on-year improvement in performance, attributed to the absence of Red Sea disruption, stable volumes, and a slight increase in market share in key regions.

• Leading multimodal logistics provider with a network of 10 container terminals and 5 CFSs, serving major industrial and manufacturing zones in India.

• Snowman Logistics, now a subsidiary, is the largest integrated temperature-controlled logistics provider in India, expanding capacity and growing its 5PL vertical.

• Board approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2025, and declared a first interim dividend of Rs. 1.25 per share for FY 2025-26.

• Statutory auditors issued a qualified review, highlighting regulatory proceedings and SEIS benefit disputes.

Financial highlights

• Q1 FY26 consolidated total income at ₹554.1 crore, up 56% year-over-year; EBITDA at ₹123 crore, up 38% YoY, with margin at 22.2%.

• PAT for Q1 FY26 at ₹62.2 crore, margin 11.2%; EPS at ₹1.20.

• Rail business EBITDA per TEU was INR 9,100, slightly down due to higher empty running and lower double stacking.

• Snowman’s trading and distribution segment saw a 54% QoQ revenue increase, driven by new and existing customers.

• Consolidated net profit for Q1 FY26 was Rs. 6,218.47 lakhs, compared to Rs. 4,907.37 lakhs in Q1 FY25.

Outlook and guidance

• Double-digit volume growth targeted for the year, with Q1 volumes stable despite seasonal weakness.

• Long-term strategy focuses on organic and inorganic growth in rail business, leveraging the Dedicated Freight Corridor for improved transit times and capacity utilization.

• CapEx guidance: INR 30 crore per year for maintenance, INR 150 crore per new terminal, and INR 300 crore earmarked for two new terminals.

• Snowman plans INR 100 crore investment in new facilities and asset-light models over the next two years.

• Management believes MAT credit entitlement of Rs. 20,862.79 lakhs is fully recoverable based on board-approved projections.