Gateway Distriparks (GATEWAY) Q3 24/25 earnings summary

Executive summary

• Market share improved year-over-year and quarter-over-quarter in key regions, despite overall market degrowth in Ludhiana and Uttarakhand due to weak scrap and waste paper volumes.

• Achieved Q3FY25 revenue of ₹132 crore, a 6% YoY increase, reflecting resilience amid seasonal and economic fluctuations.

• Snowman Logistics reported a net loss versus profit last year, with sequential revenue decline, attributed to contract changes and cost increases.

• Second interim dividend of Rs. 0.75 per equity share declared for FY 2024-25, with record date set as February 7, 2025.

• Acquisition of further stake in Snowman Logistics Limited completed, making it a subsidiary from December 24, 2024.

Financial highlights

• EBITDA per TEU in rail remained stable at ₹9,600; CFS EBITDA per TEU at ₹1,270.

• Q3FY25 total income: ₹133.9 crore, up 6.9% YoY; 9MFY25 total income: ₹419.4 crore, up 10.2% YoY.

• Standalone revenue from operations for Q3 FY25: Rs. 38,568.83 lakhs; consolidated revenue: Rs. 40,251.56 lakhs.

• Exceptional gain of ₹390 crore (Rs. 39,076.72 lakhs) recognized due to Snowman becoming a subsidiary, not a cash or taxable item.

• Snowman Logistics targets ₹800–900 crore revenue by FY26, driven by expansion in distribution and warehousing.

Outlook and guidance

• No immediate plans to increase stake in Snowman Logistics beyond current 50%.

• EBITDA margins for Snowman expected to remain at 18–20% as distribution business grows.

• Guidance for next quarter and year withheld pending clarity on global shipping and Red Sea situation.

• Ice cream and dairy segment expected to rebound with summer; seafood segment showing revival.

• Expansion of 10,000–15,000 pallets planned in the next financial year with ₹100–150 crore capital investment.