Gateway Distriparks (GATEWAY) Q3 25/26 earnings summary

Executive summary

• Management emphasized transparency in governance, closure of several tax disputes, and ongoing efforts to resolve others, including use of amnesty schemes when appropriate.

• Achieved net debt-free status for the first time since inception, marking 30 years since the first facility land acquisition.

• Operations commenced at MMLP New Ankleshwar in October 2025, expanding Western India presence.

• Snowman Logistics became a subsidiary in December 2024, consolidating temperature-controlled logistics.

• Un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and reviewed, with a qualified conclusion from auditors due to regulatory proceedings and SEIS benefit challenges.

Financial highlights

• Q3 FY26 total income was Rs. 566 crore, up 39% year-over-year; EBITDA at Rs. 128 crore, margin 22.6%.

• 9M FY26 total income reached Rs. 1,691 crore, up 46% year-over-year; EBITDA at Rs. 375 crore, margin 22.2%.

• Warehousing segment saw 19% year-over-year and 5% sequential revenue growth, with new facilities added in Krishnapatnam and Calcutta.

• Standalone profit after tax for the quarter: Rs. 7,116.63 lakhs; consolidated profit after tax: Rs. 6,716.59 lakhs.

• Exceptional gain of Rs. 390.8 crore recognized from Snowman Logistics revaluation.

Outlook and guidance

• Focus remains on top-line and EBITDA expansion, with reinvestment of cash flows into business growth.

• New ICD near Indore planned with 120,000 TEU capacity at Rs. 150 crore capex.

• Three new high-capacity rakes to be delivered by May 2026; old rakes to be swapped by March 2026.

• No specific revenue or margin guidance for FY27, but management aims to maintain current margin trends.

• Exclusive 15-year container train operations at MMLP Ankleshwar to strengthen Western corridor presence.