Dear Shareholders,
We are delighted to present the Annual Report of Gateway Distriparks
Limited for thefinancialyear 2023-24.
Despite facing a multitude of challenges during the fiscal year
2023-24, our determination has remained unwavering. The overseas economic environment
presented numerous obstacles, including geopolitical instability and the Red Sea crisis,
which led to increased freight rates, supply chain disruptions, and reduced utilization.
These factors significantly impacted our operations and market dynamics. Nevertheless,
these challenges have guided us to navigate complexities with a balanced approach, placing
equal importance on our business objectives and the trust and goodwill of our customers.
In FY 2023-24, our Company achieved a total consolidated revenue,
including other income, of Rs. 1,553.2 crores, compared to Rs. 1,443.0 crores in the
previous year. Profit After Tax was Rs. 258.3 crores, compared to Rs. 241.9 crores during
FY 2022-23. The Company handled 7.31 lakh TEUs, up from 7.13 lakh TEUs in FY 2022-23.
Our early position in the ICD market has enabled us to benefit from the
WDFC, resulting in improving our efficiency in terms of turnaround time and loadability.
We have successfully managed double-stacked containers since 2011, and
with each section of the corridor becoming operational, the efficiency of our trains'
turnaround time will continue to enhance. The ongoing track upgrades and addition of new
rail lines are contributing to the development of more dedicated freight corridors,
connecting the Golden Quadrilateral and its diagonals. In the long term, this expansion
paves the way for our company to establish itself as a comprehensive rail operator,
offering services for both Domestic EXIM operations across India.
Looking ahead, we are excited about our expansion plans. We are
currently working on adding two additional rail-linked Inland Container Depots (ICDs) in
North and Central India. These terminals will connect to our existing network of rail
terminals aligned with the Western Dedicated Freight Corridor (WDFC).
Our associate company, Snowman Logistics Limited (SLL), is a leader in
providing comprehensive temperature-controlled warehousing, transportation and
distribution services across India. As of March
31, 2024, Gateway Distriparks Limited holds 45.24% in SLL. SLL has a
warehousing capacity of 1,41,000+ pallets across 45 warehouses in 20 cities on a pan India
basis. SLL also has a fleet of 270+ vehicles.
Snowman Logistics Limited (SLL) recorded a Revenue of Rs. 503.37 crores
as against Rs. 417.65 crores; an EBITDA of Rs. 108.32 crores from Rs. 96.07 crores; PBT of
Rs. 25.24 Crores from Rs. 21.50 Crores and PAT of Rs. 12.70 crores from Rs. 13.40 crores
vis-a-vis the previous year.
We remain steadfast in our commitment to deliver value to each one of
our stakeholders. Looking ahead, our vision is clear - to maintain our market leadership
in the sector in India. We are fully committed to achieving this objective by staying
focussed even in times of resilience with our strategic priorities.
In closing, I want to express my heartfelt appreciation for your
continued support and trust. Thank you for being an integral part of our journey.
Prem Kishan Dass Gupta
Chairman & Managing Director