Research Reports On Gateway Distriparks, Bata India, SML Isuzu & NRB Bearings By Karvy

The growth driver for GDL could be initiatives on the part of government to build DFC, enhancing port capacity along with the company’s move to enhance capacities of its own CFSs and ICDs by way of going out for organic and inorganic growth. DFC is expected to facilitate double stack carriage which will reduce operational cost substantially. Besides, strong balance sheet of the company supports to premium valuation for the company’s stock price. Given the strong fundamentals at domestic economy and the company level which is virtually debt free, we are initiating coverage with “BUY” recommendation on the backdrop that increased movement of containerized cargo benefitting GDL with synergetic business verticals. At CMP of Rs.289, the stock is trading at PE of 17.5x of FY18E earnings. We have assigned a 20.6x FY18E EPS for a target of Rs.340 representing an upside potential of 18%.

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