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Saturday, January 2, 2010

Gateway Distriparks - Small Cap Stock From Logistics Sector

Set up as a joint venture by NTSC, Parameshwara Holdings, Windmill International and Thakral Corporation, Gateway Distriparks (GDL) is into the business of warehousing and container freight stations (CFS). Checkout this small cap stock from small cap stock list for 2010.

It owns and manages CFS and inland container depots (ICDs). It has invested Rs 350 crore via its subsidiary, Gateway Rail Freight, in container trains. It is the next biggest private entry in this segment as the market is dominated by Container Corporation of India. Institutions have shown credible interest in GDL, with Blackstone taking it to the next stage by agreeing to buy 37.5 per cent stake for Rs 300 crore.

GDL is expanding and has spent Rs 570 crore on creating assets for rail and road business, and further plans to invest Rs 250 crore by March, 2010. Its profits (consolidated) went up by 6.67 per cent in FY2009 to Rs 77.44 crore. The growth in this segment, is not as high as the amount being invested since this segment is at a nascent stage.

Even though there has been much fund activity in this scrip (fund count is at 18 in October up from 16 in May, 2009), but institutional investors have been buying heavily into this counter from 25.82 per cent in March, 2009 it is now at 38.07 per cent at the end of September, 2009.

Market Cap 1,481.17
* EPS (TTM) 7.64
* P/E 18.00
* P/C 15.23
* Book Value 58.81
* Price/Book 2.34
Div(%) 35.00
Div Yield(%) 2.55
Market Lot 1.00
Face Value 10.00
Industry P/E 43.50

The stock though has not really gone too far during the year (up 49.53% till November 27, 2009), it is still trading above its historic valuation of 16.74 P/E. It discounts its EPS of Rs 6.55 with a P/E of 18.87. It is a worthy buy in this segment and could be accumulated at dips.

Go back to Small Cap Stock List For 2010

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