Snowman reports ₹58 crore revenue, ₹15 crore EBITDA for Q2 FY21

October 28, 2020: During the quarter ended September 30, 2020, the cold chain solution provider Snowman Logistics recorded revenue of ₹57.69 crore against ₹58.38 crore in Q2 FY19-20.

EBITDA decreased to ₹15.19 crore from ₹16.12 crore in the corresponding quarter of the previous year. PBT decreased to ₹1.73 crore from ₹1.29 crore in the corresponding quarter of the previous year and PAT decreased to ₹1.73 crore in the current quarter from ₹1.40 crore in the same period in the previous year.

“We have almost finished the construction of the dedicated facility for Amazon in Kundli (near Delhi), and it should be functional from November 1, 2020. Our new facility at Siliguri is under construction along with expansion planned at Coimbatore, Krishnapatanam and Mumbai. We are on track with respect to all these projects to be ready for operations in Q4 of this year. The total capital outlay for these projects which will add around 12,000 pallets will be around ₹75 crore,” said, Sunil Nair, CEO, Snowman Logistics.

“Despite the business impact faced by our major set of customers, we have done fairly well and have been able to maintain a high warehouse occupancy rate during this year. This was possible due to the new business pipeline that we had maintained across various segments. Now we are seeing our customers’ businesses resuming to pre-lockdown levels. This should help us do better in the coming quarters as our existing business grows and the new volumes are retained. Further,” he added.

Prem Kishan Dass Gupta, chairman, Snowman Logistics, said, “In addition to the new projects underway, the Company has also started a new vertical for catering to e-commerce logistics in the food and pharmaceutical segments. On the pharma front, Snowman is well-positioned to handle any requirement pertaining to Covid-19 vaccination logistics as we have the largest private cold chain warehouse network in India. Snowman already has all necessary infrastructure and certifications required as it provides services to leading pharmaceutical companies at various locations. With our growing network and new business lines, we are confident that Snowman will continue to remain the leader of its industry.”