September 24, 2023

Snowman Logistics closes FY22-23 on a positive note. Records annual revenue of INR 417.65 crores

Mumbai,  May 2023: During the quarter ended March 31, 2023, Snowman Logistics Ltd(“Company”) recorded revenue of INR. 112.35 Crores as against INR 76.63 Crores for the same period in the previous year. EBITDA increased to INR 25.56 Crores from INR 18.00 Crores for the same period in the previous year and PAT increased to INR 5.10 Crores from INR (0.22) Crores in the corresponding quarter of the previous year.

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

Speaking about the performance, Mr. Sunil Nair, CEO, of Snowman Logistics Limited said, “We are happy with the results. We look forward to continuing our expansion this year as well and increasing our share in customer demand. 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”.

Mr. Prem Kishan Dass Gupta, Chairman, of Snowman Logistics Limited 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 continuing 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. In addition, we have started offering 5PL and distribution services to our customers with long-term commitments, and we will simultaneously continue to grow in this direction.”

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