Buy Report for GDL

Buy Gateway Distriparks (GDL) with a target price of Rs 132. Gateway Distriparks Ltd (GDL) is expected to report revenue growth of 85.3% YoY (QoQ growth of 7.2%) to Rs 895.6 million, considering the upside from new business in rail logistics and cod chain business along with acquisition of CFS from Punjab Conware. The other income is expected to decline by 47.9% YoY to Rs 33 million mainly on account of decline in interest income from the surplus cash. Overall, consolidated profit is expected to decline by 11.7% YoY to Rs 164 million, translating into EPS of Rs 1.42."