GATEWAY · price
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Gateway Distriparks held its Q4 FY26 earnings call with management discussing subdued volumes due to ongoing West Asia conflict affecting both import cargo (from US, Europe, Middle East) and export cargo (food, rice, frozen foods). The company targets 15% volume growth for rail segment and 5% for CFS, though management acknowledges uncertainty given geopolitical situation. On expansion: Jaipur ICD has next hearing in July for final arguments; Indore ICD targeted for 2028 operations; Ankleshwar MMLP volumes ramping with new ArcelorMittal steel coil contract. Snowman targets INR1,000 crore revenue (deferred to FY29 from FY28) with 15% EBITDA margin. Employee costs rose 12-13% due to headcount additions for domestic operations scaling. Capex guidance of INR90 crore for container business and INR50 crore for Snowman in FY27. Double stacking at 40% for full year.
Volumes remain pressured from West Asia conflict with no clear recovery timeline. Management guided 15% rail growth targets but acknowledged these depend on geopolitical resolution and new ICD launches. Snowman's INR1,000 crore revenue target deferred by a year. Shareholders should monitor Jaipur ICD approval and Indore development timeline.