Allcargo Gati Ltd. share price target

ICICI Securities Ltd | Retail Equity Research Revenues for Q4FY18 grew 10% YoY to | 455 crore (I-direct estimate: | 426 crore). Express distribution and supply chain (EDSC) grew 9% to | 370 crore. Growth was further accelerated by growth of 12% and 8% YoY in fuel and other sales, respectively Higher cost of sales continues to dent EBITDA margins that declined 96 bps to 3.4% (I-direct estimate: 5.5%). Subsequently, EBITDA degrew 15% YoY to | 16 crore (I-direct estimate: | 23 crore) PAT was at a loss of | 5 crore (I-direct estimate: profit of | 6 crore)...

Revenues for Q3FY18 revived to | 448.5 crore (up 6% YoY, 10% QoQ). Post de-growing for four consecutive quarters, express distribution & supply chain (EDSC) grew 4% YoY (up 11% QoQ) to | 368.7 crore (Idirect estimate: | 336.7 crore). Growth was further accelerated by growth of 9% and 37% YoY growth in fuel & other sales, respectively Standalone revenues de-grew 15% YoY (up 6% QoQ) to | 110.8 crore. Sluggishness in e-commerce revenues was partly offset by strong fuel sales. Given the festive season in Q3FY17, e-commerce revenues for Q3FY18 de-grew 35% (up 3% QoQ) to | 38.9 crore. Fuel sales grew...

Consolidated revenues for Q2FY18 were at two-year low levels of | 406 crore (down 5% YoY, QoQ). Express distribution and supply chain (EDSC) segment continued to de-grow for a fourth consecutive quarter at 8% YoY (down 5% QoQ) to | 333.3 crore (I-direct estimate: | 339.5 crore). The de-growth was moderated by 12% and 27% YoY growth in fuel and other sales, respectively E-commerce revenues de-grew 20% (down 12% QoQ) to | 37.5 crore, significantly lower than its historical quarterly run rate of | 40-50 crore....

Consolidated revenue for Q4FY17 de-grew 3% YoY (down 2% QoQ) to | 415 crore (vs. our estimate of | 436 crore). Standalone growth, which was earlier fuelled by e-commerce revenues, de-grew 4% YoY (first time since FY14) to | 122.4 crore. The YoY de-growth of 21% in ecommerce revenues (| 50 crore in Q4FY17) was to an extent moderated by 27% YoY growth in fuel sales (| 57.5 crore in Q4FY17). Revenues from KWE and Kausar continue to remain weak with degrowth of 8%, 13% to | 265 crore, | 10.4 crore, respectively Though there was a decline in revenues, operating and other expenses grew 2% and 6%, respectively, impacting EBITDA, which nearly...

ICICI Securities Ltd | Retail Equity Research Gati's consolidated revenue for Q3FY17 sequentially remained flattish (up 2% YoY) to | 424.9 crore (I-direct estimate: | 411 crore). Higherthan-expected growth was on account of growth of 9% in standalone revenues to | 130.8 crore, primarily driven by higher e-commerce revenues (up 13% YoY) and improved fuel sales (up 24% YoY). Ecommerce now contributes ~45% of overall standalone revenues. Revenues from KWE and Kausar continue to remain weak with degrowth of 4% YoY each to | 276 crore and | 10.7 crore, respectively Higher cost of sales coupled with increased employee expenses was partly offset by lower operating expenses. Subsequently, EBITDA for...

ICICI Securities Ltd | Retail Equity Research Revenues for Q2FY17 grew 5% YoY (flattish QoQ) to | 425.6 crore (Idirect estimate: | 425 crore). Growth in Kintetsu World Express (KWE) revenues (65% of consolidated revenues) continues to remain sluggish at 2% YoY to | 287 crore. However, standalone revenue growth (excluding dividend income from Gati KWE) grew 4% YoY to...

ICICI Securities Ltd | Retail Equity Research Revenue for Q1FY16 slightly missed our estimates with growth of 2% YoY (down 1% QoQ) to | 425.5 crore (I-direct estimate: | 431 crore). Following the IT implementation in surface logistics, revenue from KWE de-grew 1% YoY to | 282 crore. Standalone revenue growth (up 9% YoY) to | 127.6 crore. We continue to stay supportive of growth in e-commerce business, which grew 29% YoY to | 58 crore EBITDA for the quarter grew 12% YoY (down 12% QoQ) to | 33.4...

ICICI Securities Ltd | Retail Equity Research Q4FY16 revenue was in line with our expectations but profitability was above our estimates. Revenues grew 3% YoY (+3% QoQ) to | 428...

Financial Quarterly Performance: Gatis quarterly revenue declined by -2% on q-o-q basis and increased by 7% on y-o-y basis to Rs.4159mn. EBITDA increased by 8% and 17% on q-o-q and y-o-y basis respectively. PAT is up by 7% and 8% to Rs.150mn on q-o-q and y-o-y basis respectively, but net profit is down by -1% and -7% to Rs.113mn on q-o-q and y-o-y basis respectively. The express distribution and supply chain business, which forms the major source of revenue surged by 13% y-o-y basis.

Gati Ltd - Riding the booming E-commerce LogisticsGati is among the leading logistics service providers in India. it offers customized supply chain solutions, integrated express distribution, cold chain solutions and E-Commerce logistics services.