Snowman Logistics records 49% growth in revenue and a 30% increase in its EBITDA in Q3 ended December 2022

MUMBAI : During the quarter ended December 31, 2022, Snowman Logistics Ltd recorded revenue of INR. 109.39 Crores as against INR 73.40 Crores for the same period in the previous year, registering a growth of 49%. EBITDA increased to INR 25.14 Crores from INR 19.40 Crores, registering a 30% growth for the same period in the previous year and PAT increased to INR 3.74 Crores from INR 0.83 Crore in the corresponding quarter of the previous year.

Speaking about the quarter’s performance, Mr. Sunil Nair, CEO, Snowman Logistics Limited said, “We expect to continue the momentum and grow from here. Our efforts towards offering services and solutions to complex and challenging operations are gaining traction and we hope to add some new businesses to our kitty soon.”

Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited commented, “The new distribution model that we had started in the previous quarter has worked out well and is also helping increase the throughput of both our storage and transportation verticals. We are in the process of scaling up this vertical further. In addition, we are seeing strong demand in the dry warehousing segment as well, which we will be growing using an asset-light model by creating a network of warehousing space at new leased locations across the country, in addition to our existing facilities where we have a mix of frozen, chilled and dry warehousing.”

About Snowman Logistics Limited
Snowman Logistics is the market leader in integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients, on a pan-India basis. With 43 strategically located warehouses, having a total pallet capacity of 1,29,924 across 17 cities including the key markets of Mumbai, Chennai, Bengaluru & Kolkata,
Snowman caters to its comprehensive network of reputed clients, which source and consume temperature-sensitive products in bulk amounts. Snowman caters to various services like dairy products including butter and cheese, canned food items, poultry and meat, seafood, healthcare, and pharmaceutical products.