Gateway Distriparks begins FY27 with stable core operations and expansion plans despite an 18% drop in net profit due to a tax regime change, highlighting resilience in the container logistics sector.
Gateway Distriparks began FY27 with a broadly steady operating performance, even as a change in tax treatment weighed on the bottom line. The logistics company reported consolidated total income of Rs 553.7 crore for the quarter ended June 30, 2026, little changed from a year earlier and 3% higher than the previous quarter. EBITDA was Rs 121.5 crore, giving a margin of 21.9%, just below the 22.2% recorded a year earlier. Profit after tax fell 18% to Rs 51.3 crore, but the company said the decline reflected its move to the concessional tax regime under Section 115BAA from April 1, 2026 rather than any weakening in the core business. Tax outgo rose to Rs 19.6 crore from Rs 9.6 crore, with the effective rate increasing to 25.17% from 9.57% a year earlier.
The core container logistics arm remained stable. Excluding Snowman Logistics, Gateway posted revenue of Rs 373 crore and EBITDA of Rs 92 crore, holding a 25% margin that has remained within a relatively tight band over the past 13 quarters. Throughput was 1,83,867 TEUs, while revenue per TEU eased to Rs 20,281 from Rs 20,739 and EBITDA per TEU slipped to Rs 5,012 from Rs 5,219. The company’s network is increasingly tied to the Western Dedicated Freight Corridor, which is now fully completed across 1,506 km. Gateway says that alignment supports a hub-and-spoke model built around terminals such as Garhi Harsaru and Viramgam, helping it move volumes from ports including JNPT, Mundra and Pipavav into hinterland markets more efficiently than road or non-aligned rail routes.
The company is also pushing ahead with expansion plans. Its operating platform now includes 10 container terminals with installed annual capacity of 15,40,000 TEUs, backed by a 473-acre land bank. Indore remains a key project, with additional land acquired during the quarter and construction continuing ahead of a planned 2028 start, when the site is expected to handle about 1,20,000 TEUs a year. At New Ankleshwar Multi-Modal Logistics Park, where Gateway is the exclusive container train operator, customs approval to handle EXIM cargo was received during the quarter and operations are due to begin in September 2026. The company said it had 35 rakes at the end of the period, with two more on order, alongside plans for additional high-speed trains and domestic containers.
Snowman Logistics continues to broaden the group’s reach beyond container freight. Gateway’s 50.01%-owned cold chain subsidiary reported Rs 177.1 crore of revenue, Rs 29.3 crore of EBITDA and Rs 4.6 crore of net profit in the quarter, giving the parent a platform in temperature-controlled logistics for food, pharmaceuticals and e-commerce. India Ratings affirmed Gateway at IND AA with a Stable outlook in March 2026, and the company declared an interim dividend of Rs 1.25 per share after paying Rs 3.25 per share in FY26, including a special dividend. As of June 30, 2026, promoter holding stood at 33.9% and domestic institutional ownership at 33.0%.
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