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SNOWMAN LOGISTICS Limited announces profitable Q4 results

Posted On: 2018-05-15 17:48:28

For the quarter ended March 31, 2018, Snowman Logistics Ltd recorded revenue of INR. 51.82 Crores as against INR. 44.57 Crores for the same period in the previous year, registering a 16% growth. While EBITDA increased to INR. 12.55 Crores from INR. 6.13 Crores registering a 105% growth for the same period in the previous year, PBT increased to INR. 3.15 Crores from a loss of INR. 7.19 Crores in the corresponding quarter of the previous year registering a positive growth of 144%.

On an annual basis, sales during 2017-18 was INR. 194 Crores as against to INR. 189 Crores during the previous year. PBIT increased to INR. 8.30 Crores from INR.1.42 Crores, registering a growth of 685%, while PBT for the year was a loss of INR 3.56 Crores as against a loss of INR. 15.48 Crores during FY17.

Commenting on the result, the Chairman Mr. Prem Kishan Gupta said, "During the year 2017-18, The Company further consolidated its position as market leader with the addition of a new warehouse at Krishnapatnam. The initiatives undertaken in the previous year to strengthen the business model bore results in the current year with the company posting profits at PAT level during the second half. The robust growth plans projected by key customers has necessitated a need for more cold storage and distribution capacity which the Company plans to address by further expanding in the coming years."

Commenting on the result, Sunil Nair, CEO, Snowman Logistics said, "I am thankful to my customers and team who have stood by us during the challenging time last year. We have overcome the challenges faced during the previous year arisen from demonetization and the implementation of GST. We were one of the first ones who successfully implemented GST and Eway Bill process. And now we are back on the growth path. The coming year is expected to be exciting with strong growth numbers projected resultant a strong consumption. We have moved a step ahead by offering our clients integrated operations with services such as Customs clearance, empty container procurement and port pickup & delivery at the same location. Our focus on cost optimisation and improving utilisation continues. With the addition of the Krishnapatnam warehouse, our total pallet capacity has gone up to 1, 06,964 pallets, thus, further strengthening the Company's position as a market leader in the industry."

Shares of Snowman Logistics Ltd was last trading in BSE at Rs.50.15 as compared to the previous close of Rs. 52.8. The total number of shares traded during the day was 107269 in over 947 trades.

The stock hit an intraday high of Rs. 52.25 and intraday low of 49.5. The net turnover during the day was Rs. 5467282.

Source: Equity Bulls

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