- Well positioned for mass distribution of covid vaccine
- Expansion plans in high yield locations
- Dedicated Amazon warehouse at Kundli operational
- Launched technology platform ‘Snowlink’ to aggregate transport capacity and offer end-to-end solutions to customers
During the quarter ended March 31, 2021, Snowman Logistics Ltd recorded a revenue of INR. 64.11 Crores as against INR 60.98 Crores for the same period in the previous year. EBITDA increased to INR 17.80 Crores from INR 15.99 Crores for the same period in the previous year and PAT increased to INR (0.42) Crores from INR (1.17) Crores in the corresponding quarter of the previous year.
On an annual basis, revenue during 2020-21 was INR 237.10 Crores as against INR 240.20 Crores during the previous year. The revenue drop was mainly in the transport vertical due to vehicle movement restrictions during the initial lockdown period. EBITDA increased to INR 68.47 Crores from INR 64.06 Crores mainly due to margin improvements in warehousing i.e., from 38% in FY20 to 42% in FY21 and PAT increased to INR 6 Lakhs from a loss of INR (1501) Lakhs during the previous year.
Speaking about the quarter performance, Mr. Sunil Nair, CEO, Snowman Logistics Limited said, “Despite the challenges posed by the pandemic, we ramped up operations to ensure that there are no service disruptions, and we continue to meet the demands of our clients. Our E-Commerce business model has started contributing to our revenue, and we are quite optimistic about it. In addition, we have launched a tech platform to aggregate refrigerated transport fleets across the country and offer end-to-end solutions to our customers. This will help small truck operators to be part of the organised sector with us. We see a promising model here benefiting all the stakeholders i.e., transport partners, our customers, and Snowman.”
Commenting on the results, Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited said, “The year has ended on a high note for us. We are now present in 16 cities and have successfully implemented a new service vertical for managing the backend for e-commerce fulfilment centres. The dedicated Amazon warehouse at Kundli, serving Delhi, is operational now in addition to Mumbai and Pune with plans to expand in more locations in the coming year. Furthermore, we have created a new pharma vertical and have started handling distribution of COVID vaccines in some regions, with plans for Pan-India storage and distribution for which we are in advanced talks with all relevant stakeholders. Our new projects at Siliguri & Coimbatore are under construction, along with expansion in the existing facilities of Mumbai & Krishnapatnam due to high demand. We are confident that Snowman will continue to remain the leader of its industry.”
