Snowman Logistics’ Mumbai expansion takes total capacity to 90,000 pallets

Picture3Snowman Logistics Limited is in line with its expansion plans by adding 4,500 pallets at the Taloja warehouse situated in Panvel district in Mumbai. With this capacity addition the total installed capacity tallies to 90,000 pallets.

Going ahead, in Q2FY15, the company plans to add another 6000 pallets capacity at Baramati and 4500 pallets in Bangalore, thus crossing the 100,000 pallets by end of September 2015 and then by March 2016 it will be around 1,14,000 pallets which will come from Kochi, Jaipur and Kolkata.

Snowman Logistics has also entered into a three year service agreement with international food services giant COMPASS (CGISS), signaling the start of a new vertical at Snowman.

Compass India is a part of Euro 18 Billion Compass Group PLC; UK based which is one of the world’s leading food and support services company.

Commenting on the developments, Mr. Ravi Kannan, CEO, Snowman Logistics said, “The Company is on track to achieve its expansion objectives. 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.”

During FY15, Company recorded a sales of Rs.202.93 crores as compared to Rs.153.41 crores, a growth of 32%, EBITDA Rs. 47.02 crores as against Rs.38.01 crores which is a growth of 24%, PBT of Rs.14.73 crore as against Rs.13.69 crores, growing at 8% and PAT Rs. 24.75 crore as against Rs.22.48 crores which is a growth of 10%. The quarterly figures too have registered growths with Q4 Sales increasing by 5% to Rs.53.84 crores over the last quarter and Q4 PAT increasing by 144% to Rs. 14.25 crores.

Source : Equity Bull

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