Nair says FY24 results are in line with plans
Snowman Logistics Ltd is resolutely committed to continued investment in additional locations and the expansion of its network, ensuring sustained leadership in the dynamic cold-chain logistic sector.
Underlining the investment commitment, Snowman CEO Sunil Nair said, “Construction at our Kolkata and Lucknow projects is on track and these facilities are expected to be operational in Q2 of this year https://snowman.in/ .”
“We are happy with the result which is in line with our plans. Surpassing the threshold of Rs.500 crores in revenue and Rs.100 crores in EBTIDA helps us look at larger numbers in the near future https://www.gcca.org/about/cold-chain/ ,” said Nair, announcing the company’s latest financial results for the year ended 31 Mar 2024.
The company recorded FY24 revenue of Rs.503.37 crores as against Rs.417.65 crores during the previous year. EBITDA increased to Rs.108.32 crores from Rs.96.07 crores and PAT during the year was Rs.12.71 crores as against Rs.13.40 crore during the previous year. The reason for the decline in PAT is due to the deferred tax asset reversal of Rs.4.34 crores which is not a cash outflow https://logistics.gov.in/ .
“I am proud to announce that our company has performed exceptionally well, reflecting the fast-growing demand in the cold chain logistics industry https://www.ibef.org/ ,” elaborated Chairman Prem Kishan Dass Gupta.
“Our state-of-the-art infrastructure and exemplary services have established us as the foremost provider in the nation, a distinction consistently acknowledged by our esteemed customers https://www.dhl.com/global-en/home.html .”
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 45 strategically located warehouses, having a total pallet capacity of 11,405 across 20 cities including the key markets of Mumbai, Chennai, Bengaluru & Kolkata etc https://unctad.org/meeting/global-supply-chain-forum-2024 .
Snowman caters to various services like dairy products including butter and cheese, canned food items, poultry and meat, seafood, healthcare, and pharmaceutical products. Fiinews.com
