Snowman Logistics Ltd, one of the largest integrated temperature controlled logistics service providers in India, is adding 4,500 pallets at the Taloja warehouse situated in Panvel district in Mumbai. With this capacity addition, the total installed capacity tallies to 90,000 pallets.
Going ahead, in Q2FY15, the company plans to add another 6000 pallets capacity at Baramati and 4500 pallets in Bangalore, thus crossing the 100,000 pallets by end of September 2015 and then by March 2016 it will be around 1,14,000 pallets which will come from Kochi, Jaipur and Kolkata .
The company has also entered into a three-year service agreement with international foodservice giant COMPASS (CGISS), signaling the start of a new
vertical at Snowman.
Compass India is a part of UK-based £18 billion Compass Group PLC, which is one of the world’s leading food and support services company.
Commenting on the developments, Ravi Kannan, CEO, Snowman Logistics said, “The company is on track to achieve its expansion objectives. There is a tremendous demand for cold chain in India and only a very small part of this market is currently being catered by the organised players. With increase awareness of food safety and hygiene, customers have been moving to organised players.”
During FY15, Snowman recorded sales of Rs202.93 crores as compared to Rs153.41 crores in the previous fiscal, indicating a growth of 32%. EBITDA was at Rs47.02 crores as against Rs.38.01 crores in FY 2014, which is a growth of 24%; PBT was Rs14.73 crore as against Rs13.69 crores, growing at 8% and PAT was at Rs24.75 crore as against Rs.22.48 crores which is a growth of 10%.