Cargo Breaking News
Gateway Distriparks Limited (GDL) announced its unaudited financial results for the quarter and half year ended September 30, 2020. Commenting on the performance, Prem Kishan Dass Gupta, Chairman & Managing Director, commented “First I would like to thank our shareholders for supporting the rights issue. Through our internal accruals and money raised through rights issue, we have completed prepayment of A1 series NCDs totalling to Rs. 250 crores since January 2020. This significant deleveraging of our balance sheet will allow us to focus on future growth opportunities through capex towards satellite rail terminals.
The business restructuring will enhance our future cash flows significantly and provide us flexibility for ramping up our business operations. The new structure will enable us to grow our Rail intermodal logistics business faster and capitalise on new growth opportunities.This restructuring enables the company to realise its full potential, whilst rationalising the cost base which will create value for all our shareholders. Restructuring will also enable us to remain focused on operational and technological advances to maintain and extend our leadership positions.
Industry dynamics dictates that rail transport will continue to gain transportation share at the cost of the road mode. Government also recognises that modal shift from road to rail freight has significant potential to help improve efficiency for transportation of goods as well as reduce carbon emissions.Ministry of Railways recently announced that it is proactively taking efforts and working aggressively to attract wider share of freight with an aim to increase its modal share of freight to up to 40%. This shall benefit us due to our multimodal capabilities to cater our customers who are increasingly demanding integrated logistics solutions.
The performance for the quarter has been as per our expectations.We continue to see a month on month improvement in business parameters thereby gives us hope of sustained recovery over the future quarters.A robust Balance Sheet combined with our strategically located state of the art infrastructure alongside the Western DFC will help us to capitalize on the future growth opportunities.”
