Gateway Distriparks Ltd., incorporated in 1994, has a market cap of Rs 894.29 crore.
Investment Rationale
The sale of Snowman Logistics was a critical step in deleveraging the balance sheet and lowering finance costs. While the termination of sale will impact near-term earnings apart from the Covid-19 related slowdown, free cash generation is likely to remain strong, which will ensure ability to pare debt over the next two years, the brokerage said.
Financials'
For the quarter ended December 31,2019, the company reported consolidated sales of Rs 298.93 crore, down -8.05 per cent from last quarter sales of Rs 325.09 crore and up 190.15 per cent from last year same quarter sales of Rs 103.02 crore. The company reported net profit after tax of Rs 16.39 crore in the latest quarter.
Promoter/FII Holdings
Promoters held 30.17 per cent stake in the company as of March 31, 2020, while FIIs held 27.19 per cent, DIIs 29.5 per cent and public and other 13.14 per cent.
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