Snowman Logistics registers Rs 58.76 crore revenue in Q3

January 22, 2020: The integrated temperature-controlled logistics service provider, Snowman Logistics recorded revenue of Rs 58.76 crore in the third quarter ended on December 31, 2019 compared to Rs 58.38 in Q2, Rs 62.07 in Q1 and Rs 59.34 crore in Q3 2018.

Adani's acquisition of Snowman
in December 2019, Adani Logistics announced the signing of agreements to acquire 40.25 percent stake in Snowman Logistics for Rs 296 crore from Gateway Distriparks.

Seafood crisis
Sunil Nair, CEO, Snowman Logistics said, the seafood production has been low this quarter as well. We see some improvement in coming quarters. The seafood crisis is a rare phenomenon. We last faced a similar situation in 2012. We are happy that we could partner with Amazon to manage back end (end to end) operations for their Fruits, Vegetables and perishables’ supplies in Mumbai. Similarly, we partnered with Swiggy in managing the full range of supplies to their kitchen in Bangalore and Delhi NCR. We see a huge opportunity in these partnerships to scale it to the national level.”

EBITDA decreased to Rs 13.45 crore from Rs 14.40 crore for the same period in the previous year. PAT decreased to Rs 3.45 crore from a profit of Rs 2.36 crore in the corresponding quarter of the previous year.

Snowman Logistics
Snowman Logistics caters to cold chain logistical requirements across India. With 31 temperature-controlled warehouses, pallet capacity of 1,04,343 across 15 cities, including Mumbai, Chennai, Bengaluru & Kolkata and 293 reefer vehicles, Snowman offers a solution to its clients, which source and consume temperature-sensitive products in bulk amounts. The services target dairy products including butter and cheese, canned food items, poultry and meat, seafood, healthcare and pharmaceutical products.