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 and expanding segment reporting.

• 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%.

• Standalone revenue from operations for the quarter: Rs. 40,995.23 lakhs; consolidated revenue: Rs. 56,041.46 lakhs.

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

• Special one-time dividend declared after achieving net debt-free status, supported by strong cash flows and recent asset acquisitions.

Outlook and guidance

• Management expects continued growth in warehousing and logistics, with incremental revenues and improving dry storage margins.

• 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 aim to maintain current margin trends and adapt to volume mix changes.

• Anticipates positive impact from upcoming U.S. and E.U. trade deals, with sufficient capacity to handle increased export volumes.