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Snowman Logistics records annual revenue of Rs 417.65 crores

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Mumbai: During the quarter end of March 31, 2023, Snowman Logistics Ltd. recorded revenue of Rs 112.35 Crores as against Rs 76.63 Crores for the same period in the previous year. EBITDA (earnings before interest, taxes, depreciation, and amortization) increased to Rs 25.56 Crores from Rs 18 Crores for the same period in the previous year and PAT increased to Rs 5.10 Crores from Rs (0.22) Crores in the corresponding quarter of the previous year.

Speaking about the performance, Sunil Nair, chief executive officer, Snowman Logistics Ltd. said, “In addition to our strong financial performance, we are proud to have inaugurated our new warehouse at Shoolagiri, Tamil Nadu. This facility spans over 50K sq ft and has a pallet holding capacity of 4,500. It is our first dry warehouse dedicated to the chemical segment, which underscores our commitment to providing the best possible service to our clients.”

On an annual basis, the company recorded revenue of Rs 417.65 Crores as against Rs 286.17 Crores during the previous year. EBITDA increased to Rs 96.07 Crores from Rs 73.79 Crores and PAT increased to Rs 13.40 Crores from Rs 1.68 Crore during the previous year.

Prem Kishan Dass Gupta, chairman, Snowman Logistics Ltd. commented, “We are witnessing a significant increase in the demand for high-quality infrastructure and service providers in the cold chain industry throughout various regions in India. With most of our facilities consistently running at maximum capacity and in response to this growing demand, we are committed to continue expanding our cold storage capacities to further solidify our market leader position as the preferred provider of reliable solutions for our customers with a large network offering.”

Snowman Logistics provides integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis. With 44 strategically located warehouses, it has a total pallet capacity of 1,35,552 across 18 cities including the key markets of Mumbai, Chennai, Bengaluru and Kolkata etc. Snowman caters to its comprehensive network of clients, which source and consume temperature-sensitive products in bulk amounts. It also caters to various services like dairy products including butter and cheese, canned food items, poultry and meat, seafood, healthcare, and pharmaceutical products.

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