During the quarter ended June 30, 2023, Snowman Logistics Ltd recorded revenue of Rs. 128.77 crores as against Rs. 87.29 crores for the same period in the previous year, registering a growth of 48%. EBITDA increased to Rs. 25.42 crores from Rs. 21.26 crores, registering a 20% growth for the same period in the previous year and PAT increased to Rs. 3.38 crores from Rs. 1.89 crore in the corresponding quarter of the previous year, registering a growth of 79%.
Speaking about the performance, Sunil Nair, CEO, Snowman Logistics, said, “We are happy that all our addition of capacities in last year have been fully utilised and are adding to our revenue and profit. We are also experiencing robust growth plans by our key customers, giving us confidence in continuing our investments in expansion. We continue to boost our asset light initiatives (SnowLink and dry warehouse leasing), to add capacity”.
Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited, said, “Snowman is on the cusp of high growth as we expand in three focus areas where we see demand growing very fast – our modern cold storage warehouses, asset light dry warehousing management services, and 5PL distribution. We have earmarked approximately Rs. 200 crores of capex to be spent over the next 24 months, both from our internal accruals and debt. Customers are looking to move away from the unorganised sector to quality conscious service providers who can add value to their supply chain and give them reach to pan India markets, and Snowman is well poised to capture this demand growth.”