Snowman reports Sales growth, while margins remain flat in-spite of lock-down challenges

During the quarter ended June 30, 2021, Snowman Logistics Ltd recorded a Revenue of INR 66.06 Crores against INR 55.12 Crores in Q1 FY20-21 (INR 64.11 Crores in Q4 FY20-21}. EBITDA decreased to INR 17.35 Crores from INR 18.03 Crores in the corresponding quarter of the previous year (INR 17.80 Crores in Q4 FY20-21} and PAT decreased to INR 0.60 Crores in the current quarter from INR 0.78 Crores in the same period in the previous year (INR (0.42} Crores in Q4 FY20-21}.

Speaking about the quarter performance, Mr. Sunil Nair, CEO, Snowman Logistics Ltd said, "We are happy that the movement of food and pharma products has been improving. This helped us improve our transportation business. Our technology platform for aggregating the transport partners and making them part of larger end to end offering is working well and helped us clock better revenues. As we move forward, we hope to make it more effective. Operations for Sputnik distribution have streamlined during June, and we are currently facilitating distribution of vaccines across the country from five hubs."

Commenting on the results, Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Ltd said, "Our new projects in Siliguri and Coimbatore are well underway, and we have been able to add capacity in our existing facilities at Mumbai, Chandigarh and Krishnapatnam. With that we will be touching a capacity of 120,000 pallets in three months. Our current national average utilisation is above 94%, though in most locations we are running at more than 100% capacity so in order to meet the fastgrowing demand of our customers, we are now planning to expand our network in our existing markets as well as new cities across the country."

Shares of Snowman Logistics Ltd was last trading in BSE at Rs. 52 as compared to the previous close of Rs. 52.95. The total number of shares traded during the day was 335215 in over 1757 trades.

The stock hit an intraday high of Rs. 53.9 and intraday low of 51.35. The net turnover during the day was Rs. 17742814.

Source : Equity Bulls

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