Snowman Logistics closes FY22-23 on a positive note

In the next financial year, the company plans to amplify its 5PL business along with building on their technological capabilities
Snowman Logistics closes FY22-23 on a positive note
Photo - Snowman Logistics

During the quarter ended March 31, 2023, Snowman Logistics 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, 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 Crore during the previous year.

Speaking about the performance, Sunil Nair, chief executive officer, Snowman Logistics, said, “We are happy with the results. We look forward to continue our expansion this year as well and increase 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."

Prem Kishan Dass Gupta, chairman, 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 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. 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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