Listed in September 2014, Snowman Logistics posted 156% rise in its net profit at Rs 5.84 crore for the quarter ended December 2014 as against Rs 2.29 crore reported in the previous quarter. Net sales of the company rose by 6% to Rs 51.30 crore and EBIDTA by 15% to Rs 11.42 crore.
On the expansion front, the 5,980 pallet warehouse at Chennai is due to commence operations from March 2015, whereas the Mumbai warehouse of 4,500 pallets and Bangalore warehouse of 4,500 pallets will commence operations during the second and third quarters of 2015-16 respectively.
The company is also in the process of adding capacities at Baramati, Cochin and Jaipur, which when completed will take the total installed capacity above our target of 1,00,000 pallet mark.
In the transportation vertical, the fleet size during the nine months ended December 31 has increased to 393 vehicles from 370 vehicles.
"There is a tremendous demand for cold chain in India and only a very small part of this market is currently being catered by the organized players. With increase awareness of food safety and hygiene, customers have been moving to organized players. Hence Snowman's immediate focus will be to bridge this gap by ramping up capacities across the country," said Gopinath Pillai, Chairman.