Snowman Logistics records EBITDA of Rs. 62.24 crores for FY18-19, highest in Company’s history

Quarter Highlights:

  • Revenue up by 20% compared to previous year
  • EBITDA increased by 29% compared to last year

During the quarter ended March 31, 2019, Snowman Logistics Ltd recorded a revenue of INR. 59.80 Crores as against INR. 51.82 Crores for the same period in the previous year, registering a 15% growth. EBITDA increased to INR. 18.14 Crores from INR. 15.78 Crores registering a 15% growth for the same period in the previous year, PBT increased to INR. 5.45 Crores from INR. 3.15 Crores in the corresponding quarter of the previous year, registering a growth of 73% and PAT increased to INR 5.42 Crores from INR 1.88 Crores in the corresponding quarter of the previous year registering a positive growth of 188%.

On an annual basis, revenue during 2018-19 was INR. 232.55 Crores as against INR. 194.28 Crores during the previous year, registering a growth of 20%.  EBITDA increased to INR. 62.24 Crores from INR. 48.31 Crores, registering a growth of 29%, PBT increased to INR.10.86 Crores from a loss of INR. 3.56 Crores during the previous year, a growth of 405% and PAT increased to INR.9.72 Crores from a loss of INR. 3.56 Crores during the previous year, registering a growth of 373%.

Commenting on the results, Mr. Prem Kishan Gupta, Chairman, Snowman Logistics Ltd said, “The Company has focused on improving efficiencies to increase customer satisfaction as well as drive profitability, as is evident in the financial results. We are confident that this performance is sustainable & scalable. Growth has always been a vital component for us at Snowman; we are constantly expanding our network with a long-term outlook to meet the increasing demand as an end-to-end cold chain logistics service provider. Further expansion is currently in the pipeline with new locations being planned.”

Speaking about the quarter performance, Sunil Nair, CEO, Snowman Logistics said, “The growth in business continues to maintain the trend. The Company’s objective remains to improve asset utilization, offer end-to-end solutions and addition of value added services to serve our customers further. We nurture such relationships. Our target on customers in the Pharma, QSR, Ready to cook/eat and seafood segments have helped us achieve better results and increase our yield per pallet. The team is focused on efficiency building and cost optimization initiatives to ensure best in industry performance.”