Snowman Logistics Ltd

- Gateway Distriparks plans a CAPEX of around Rs. 300 crores over the next two years for new terminals, warehouse upgrades, container yard extensions, vehicle replacements, and Jaipur construction. - Debt: They intend to maintain a net debt to EBITDA ratio of about 1.5:1, using internal cash flows to fund as much as possible with some incremental debt expected. - Snowman Logistics: No current plans for outside investment or equity stake sale; they aim to fund growth through healthy cash flows and internal accruals, maintaining a comfortable debt level. - Gateway may increase its stake in Snowman by another couple of percent in the near future depending on cash flows but with no fixed timing. - No specific announcements on equity fundraising or major new debt facilities beyond incremental debt aligned with the CAPEX plan.

- Gateway Distriparks plans a CAPEX of around Rs. 300 crores over the next two years, including investments in 2-3 new terminals, warehousing capacity upgrades, container yard extensions, vehicle replacements, and ongoing Jaipur construction. - Jaipur investment so far: Rs. 40 crores (land and initial construction). - New terminals expected to commence operations around FY26, with volume ramp-up in FY27. - Snowman Logistics plans Rs. 200 crores CAPEX over two years, funded by internal cash flows and incremental debt, maintaining net debt to EBITDA ratio of 1.5. - Snowman is focused on growth without needing outside private equity investment currently. - Gateway may increase stake in Snowman by a couple of percent depending on cash flows and dividend obligations. - Asset-light strategy includes adding around 50,000 pallet positions in warehousing via owned and leased assets in the next two years.

- Expecting overall volume growth in the range of 10% to 15% annually, factoring in improvements in exports and balanced import-export mix. - Kashipur terminal volumes are ramping up, targeting ~4,000 TEUs per month soon. - New terminals (2-3) planned with CAPEX of ~Rs. 100 crores each; operations expected to commence around 2026, with meaningful volume ramp-up thereafter. - Jaipur terminal to be operational by Q4 FY24 but volume ramp-up expected mainly from FY26 onward. - Rail volumes expected to grow with additional trains planned (3 more trains to be added before year-end). - Maintaining a net debt to EBITDA ratio of 1.5:1 to support Rs. 200 crores CAPEX for growth over next two years. - Snowman Logistics plans to expand chill, frozen, and dry warehouse capacity and 5PL distribution, aiming for 70-80% utilization within 6 months of new facility commissioning. - Market share is stable or improving across key regions (NCR, Uttarakhand).

- Gateway Distriparks expects 10%-15% volume growth in the rail business, supported by ramping up new terminals like Kashipur and upcoming Jaipur. - Revenue growth will primarily come from volume increases, with rail EBITDA per TEU expected around Rs. 10,000. - Jaipur terminal expected to be operational by Q4 FY24, with meaningful volume ramp-up anticipated from FY26. - Addition of 2-3 new terminals planned, with Rs. 300 crore CAPEX over the next two years expected to support growth. - Snowman Logistics is witnessing high growth with expansion plans in chill, frozen capacities, and 5PL services, targeting improving margin and ROCE. - Snowman intends to fund CAPEX primarily from internal cash flows while maintaining net debt to EBITDA ratio of 1.5x. - Management expects margins in warehousing (~15%) and transportation (8%-13%) to sustain. - Market share gains, improved operational efficiencies, and robust volume growth underpin positive earnings trajectory.

The document does not explicitly mention the current or expected order book or pending orders for Gateway Distriparks Limited or Snowman Logistics Limited. However, some related information includes: - Kashipur terminal volume growth: Currently handling around 3,000 TEUs per month, expected to scale up to 4,000 TEUs soon with a market share of 35-40%. - New terminals: Plans to add 2-3 new terminals, with construction taking about 12 months post land purchase and ramp-up another 12 months, expected operations starting around FY26. - Demand estimates for new warehouses: Typically, 60-70% utilization comes from existing customers with 70-80% capacity utilization expected within 6 months of commissioning. - Business growth outlook: Exports are picking up with overall growth targeted around 10-15% and positive ramp-up expected in terminals including Jaipur and Kashipur. No direct orderbook or pending order values are disclosed in the transcript.