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Snowman Logistics Q1 FY27: Targeting Double-Digit Growth; 18.88% Cash Tax Rate for 7-8 Years
Snowman Logistics (and parent Gateway Distriparks) reported that Q1 FY27 volumes were impacted by the West Asia crisis, which caused disruptions starting in April. Despite this, management maintains a double-digit growth guidance for the full fiscal year. A significant financial highlight is the availability of MAT credits, which will keep the cash tax outgo at approximately 18.88% for the next 7-8 years. Infrastructure progress continues with the DFC connection to JNPT now complete and the Ankleshwar facility set to begin EXIM operations by September 2026.
Confidence: HIGH
What changedThis transcript formalizes management's outlook following Q1 FY27 results, confirming that while book tax rates have risen, cash outflows remain protected by MAT credits.
Why it mattersThe company is in a heavy capex phase (Rs 100-150 Cr annually) and the ability to maintain double-digit growth while keeping cash taxes low is critical for servicing its Rs 312 Cr debt.
Cash tax rate: 18.88%MAT credit duration: 7-8 yearsAnnual Capex vs Net Worth: ~25-37%Indore ICD Land Area: 26.4 acresRail haulage cost gap (JNPT vs Mundra): 6 slabs
📅 Short termThe stock may remain range-bound as the market digests the volume stagnation caused by the West Asia crisis and monitors the September operationalization of new facilities.
📈 Long termStructural growth remains tied to the 13,500 pallet expansion in FY25 and the long-term efficiency gains from the Dedicated Freight Corridor (DFC) connection to JNPT.
⚠ Risk flags
- Geopolitical disruptions in West Asia affecting EXIM volumes
- High rail haulage costs at JNPT compared to Gujarat ports
- Fragmented industry leading to limited pricing power
Key Highlights
Management maintains a double-digit growth target for FY27 despite geopolitical volume disruptions.
Cash tax outgo to remain at 18.88% for the next 7-8 years due to accumulated MAT credits.
Ankleshwar facility expected to be operational for EXIM operations by September 2026.
Indore ICD expansion reached 26.4 acres with full-swing construction starting after September 2026.
Rail haulage for JNPT remains 6 slabs higher than Mundra, though DFC completion may shift volumes.
👀 What to Watch
Monitor the volume recovery in the upcoming quarters as the West Asia situation evolves and track the operational ramp-up of the Ankleshwar facility in September.
77% PAT Growth in Q1 FY27; Revenue Rises to ₹177.7 Cr with 16.4% EBITDA Margin
Snowman Logistics reported a resilient Q1 FY27 with revenue growing 9.2% YoY to ₹177.7 Cr, driven by a 12.6% increase in warehousing services. EBITDA margins expanded to 16.4% from 15.3% YoY, resulting in a 16.8% growth in EBITDA to ₹29.3 Cr. Net profit (PAT) surged 77.1% YoY to ₹4.5 Cr, despite a ₹1.6 Cr exceptional charge related to salary restructuring. The company maintained a high warehouse utilization of 88% across its 1,54,319 pallet capacity.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, showing significant margin improvement and bottom-line growth compared to the same period last year.
Why it mattersThe expansion in EBITDA margins and strong warehousing growth (12.6%) indicate improved operational efficiency and a successful shift toward higher-value integrated logistics solutions.
Revenue (Q1 FY27): ₹177.7 CrPAT Growth (YoY): 77.1%EBITDA Margin: 16.4%Pallet Capacity: 1,54,319Warehouse Utilization: 88%Q1 Revenue vs FY26 Revenue: 29.4%
📅 Short termThe stock may see positive sentiment in the short term due to the strong double-digit growth in EBITDA and substantial PAT increase.
📈 Long termLong-term value depends on the successful execution of the ₹100-150 Cr annual capex plan and maintaining high utilization levels as new capacities come online.
⚠ Risk flags
- Exceptional costs from salary restructuring
- Fuel price volatility affecting transportation margins
- Fragmented industry competition
Key Highlights
Revenue from operations increased 9.2% YoY to ₹177.7 Cr for the quarter ended June 30, 2026.
Net Profit (PAT) grew 77.1% YoY to ₹4.5 Cr, up from ₹2.5 Cr in Q1 FY26.
EBITDA increased 16.8% YoY to ₹29.3 Cr with margins improving by 110 bps to 16.4%.
Warehousing capacity reached 1,54,319 pallets with an 88% utilization rate.
Exceptional item of ₹1.6 Cr recognized due to a revised salary structure impact.
👀 What to Watch
Monitor the progress of the planned 13,500 pallet expansion in Kolkata, Bhubaneswar, and Lucknow, and track the scale-up of the high-margin 5PL (Snowdistribute) segment.
9.21% Revenue Growth in Q1 FY27; EBITDA Increases 16.81% YoY
Snowman Logistics reported a steady Q1 FY27 with revenue reaching ₹177.68 Cr, a 9.21% increase from ₹162.70 Cr in the previous year. Operational performance was stronger, with EBITDA growing 16.81% YoY to ₹29.31 Cr, indicating improved margins. The company has successfully expanded its capacity to over 1,54,000 pallets across 45 warehouses, up from 1,41,197 pallets reported in March 2025. Management continues to pursue a hybrid model of owned and asset-light warehouses to meet cold-chain demand.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results, showing a recovery in operational profitability with EBITDA growth significantly exceeding revenue growth.
Why it mattersThe results validate the company's expansion strategy and its ability to improve margins in a fragmented logistics market, despite carrying a debt of ₹312 Cr.
Revenue (Q1 FY27): ₹177.68 CrEBITDA (Q1 FY27): ₹29.31 CrYoY Revenue Growth: 9.21%YoY EBITDA Growth: 16.81%Total Pallet Capacity: 1,54,000+Capacity Growth vs Mar 2025: ~9.06%
📅 Short termThe stock may see positive sentiment as EBITDA growth indicates better operational efficiency and margin expansion.
📈 Long termLong-term value depends on the company's ability to scale its 5PL services and maintain high occupancy across its expanding warehouse network while managing its 0.78 D/E ratio.
⚠ Risk flags
- High debt levels relative to net worth (₹312 Cr debt vs ₹402 Cr net worth)
- Sensitivity to fuel price volatility affecting transportation margins
- Fragmented industry leading to limited pricing power
Key Highlights
Revenue increased by 9.21% YoY to ₹177.68 Cr for the quarter ended June 30, 2026.
EBITDA grew by 16.81% YoY to ₹29.31 Cr, outpacing revenue growth.
Total pallet capacity reached 1,54,000+ across 45 warehouses in 21 cities.
Capacity has increased by approximately 12,800 pallets since March 31, 2025.
EBITDA margin improved to approximately 16.5% from 15.4% in the corresponding quarter last year.
👀 What to Watch
Investors should monitor the occupancy rates of the newly added capacity and the execution of the ₹100-150 Cr annual capex plan to see if it translates into sustained double-digit bottom-line growth.
Snowman Logistics Q1 FY27 PAT rises 79% YoY to ₹4.55 Cr; Revenue up 9% to ₹177.68 Cr
Snowman Logistics reported a 9.2% YoY increase in revenue to ₹177.68 Cr for the quarter ended June 30, 2026. Net profit grew significantly by 78.8% YoY to ₹4.55 Cr, supported by a ₹1.62 Cr exceptional gain and a turnaround in the transportation segment. The Trading and Distribution segment contributed the largest share of revenue at ₹71.09 Cr. However, the company remains entangled in a ₹43.98 Cr land dispute at Krishnapatnam involving its parent, Gateway Distriparks.
Confidence: HIGH
What changedThe company has shown a strong start to FY27 with improved profitability and a notable recovery in its transportation business segment compared to the previous year.
Why it mattersThe results indicate successful realignment of the transportation model and growth in the trading segment, though legal disputes over land and GST remain overhangs.
Revenue (Q1 FY27): ₹177.68 CrNet Profit (Q1 FY27): ₹4.55 CrTransportation Segment Result: ₹2.18 CrKrishnapatnam Project Investment: ₹43.98 CrGST Demands under Litigation: ₹19.04 Cr
📅 Short termThe stock may react positively to the strong bottom-line growth and the turnaround in transportation segment profitability.
📈 Long termLong-term value depends on the execution of the ₹100-150 Cr annual capex plan and the successful scaling of 5PL services to improve overall ROCE from the current 4%.
⚠ Risk flags
- Related-party land dispute (Krishnapatnam) involving ₹43.98 Cr
- GST litigation and notices totaling ₹19.04 Cr
- High Debt-to-Equity ratio of 0.78
Key Highlights
Revenue from operations increased 9.2% YoY to ₹177.68 Cr from ₹162.70 Cr.
Net profit jumped to ₹4.55 Cr compared to ₹2.54 Cr in the previous year's corresponding quarter.
Transportation segment results improved sharply to ₹2.18 Cr from just ₹0.17 Cr YoY.
Trading and distribution revenue grew to ₹71.09 Cr, now accounting for 40% of total revenue.
Total investment in the disputed Krishnapatnam project stands at ₹43.98 Cr, roughly 11% of net worth.
👀 What to Watch
Monitor the resolution of the Krishnapatnam land registration issue and the sustainability of the transportation segment's margin recovery in upcoming quarters.
10,000-Pallet Expansion: Snowman Logistics to Build New Hyderabad Facility
Snowman Logistics has announced the commencement of a new 10,000-pallet temperature-controlled warehouse in Hyderabad, utilizing an asset-light Built-to-Suit (BTS) model. This facility represents a ~6.5% increase to the company's total current capacity of 154,319 pallets and a significant 147% expansion of its existing 6,800-pallet footprint in Hyderabad. The facility is scheduled to be operational by Q2 2027 and will cater to high-demand sectors like pharmaceuticals, seafood, and QSR. This move aligns with the company's strategy to expand in strategic consumption centers while managing capital intensity.
Confidence: HIGH
What changedSnowman Logistics is initiating a major capacity expansion in the Hyderabad market through a new 10,000-pallet temperature-controlled facility.
Why it mattersThe expansion targets high-growth logistics corridors (NH-44) and high-margin sectors like pharma and seafood. The asset-light model is crucial for a company with a 0.78 D/E ratio and a modest 4% ROCE, as it allows growth without heavy immediate debt additions.
New Capacity: 10,000 palletsExisting Total Capacity: 154,319 palletsCapacity Increase (Total): ~6.48%Existing Hyderabad Capacity: 6,800 palletsOperational Timeline: Q2 2027
📅 Short termThe announcement is likely to be viewed positively by the market as a sign of growth intent, though financial benefits are at least a year away.
📈 Long termStrengthens Snowman's position in the organized cold chain market; successful execution of the BTS model could improve overall ROCE over time if occupancy remains high.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk regarding the Q2 2027 timeline
- Historical decline in warehousing operational efficiency (FY25)
- Fragmented industry competition
Key Highlights
New 10,000-pallet facility to be established in Hyderabad under an asset-light BTS model
Total company capacity to increase by approximately 6.48% from the current 154,319 pallets
Hyderabad-specific capacity will grow by 147%, from 6,800 pallets to 16,800 pallets
Facility designed for a versatile temperature range of -25°C to +20°C
Operational commencement targeted for Q2 of the next year (2027)
👀 What to Watch
Monitor the construction progress and execution timeline toward the Q2 2027 operational goal. Investors should also watch if this expansion helps reverse the 16.68% decline in warehousing segment results reported in FY25.
Snowman Logistics Shareholders Approve Two Independent Directors with Over 99.9% Majority
Snowman Logistics Limited has successfully passed two special resolutions via postal ballot for the appointment of Mr. Raghav Chandra and Ms. Sriparna Ganguly Chaudhuri as Non-Executive Independent Directors. Both appointments received overwhelming support, with approximately 99.97% of the votes cast in favor. The promoter group, holding 8.35 crore shares, voted unanimously for both candidates. The voting process concluded on June 13, 2026, with a total of 9.46 crore votes polled across 1.01 lakh eligible shareholders.
Key Highlights
Appointment of Mr. Raghav Chandra as Independent Director approved with 94,657,989 votes (99.97%) in favor.
Appointment of Ms. Sriparna Ganguly Chaudhuri approved with 94,656,877 votes (99.97%) in favor.
Promoter group cast 100% of their 83,560,846 shares in favor of both special resolutions.
Total voter turnout represented 56.67% of the company's total outstanding shares.
The Scrutinizer's report confirmed that only a negligible 0.03% of votes were cast against the appointments.
👀 What to Watch
No immediate action is required as these are routine governance appointments; however, the high level of shareholder consensus reflects strong confidence in the board's selection.
Snowman Logistics Q4 FY26: Targets 15% Growth and INR 1,000 Cr Revenue Goal
Snowman Logistics reported subdued volumes in Q4 FY26 due to the West Asia conflict impacting key import/export routes for frozen foods. Despite these headwinds, the company is targeting a 15% long-term growth rate and maintains its goal of reaching INR 1,000 crore in revenue, though the timeline has been slightly deferred. Capex plans remain robust with approximately INR 125 crore allocated for new rakes and electric vehicles, alongside ongoing ICD developments in Indore and Jaipur. The company maintains its market leadership in cold chain logistics with a capacity of 160,000 pallets, double that of its nearest competitor.
Key Highlights
Targeting 15% growth for Snowman and rail segments despite current volume pressure from West Asia conflict.
Double stacking efficiency reached 42% in Q4 FY26, with a full-year average of 40%.
Planned capex includes INR 100 crore for Indore ICD and INR 125 crore for new rakes and electric reach stackers.
Snowman maintains market leadership with 160,000 pallets capacity, double that of its nearest competitor.
Employee costs rose 12-13% YoY due to headcount scaling for domestic operations and retention bonuses.
👀 What to Watch
Investors should monitor the resolution of the West Asia conflict as it directly impacts export volumes, while tracking the commissioning of the Indore and Jaipur ICDs for long-term growth.
Snowman Logistics FY26 Revenue Rises 9.4% to ₹604 Cr; PAT Impacted by Exceptional Items
Snowman Logistics reported a steady 9.4% YoY revenue growth to ₹604.4 crore for FY26, supported by double-digit growth in warehousing and trading verticals. Annual Profit After Tax (PAT) saw a significant decline of 41.2% to ₹3.3 crore, largely due to a ₹2.7 crore exceptional charge for new Labour Codes and margin pressure in the transportation segment. The company is strategically shifting from 3PL to a higher-value 5PL model and added 17,000 pallet positions across four new facilities. Despite the annual profit dip, Q4 FY26 PAT grew 41.8% YoY to ₹5.5 crore, indicating a potential turnaround in quarterly profitability.
Key Highlights
Annual revenue grew 9.4% YoY to ₹604.4 crore, while EBITDA reached ₹94.5 crore with a 15.5% margin.
Full-year PAT dropped 41.2% to ₹3.3 crore, primarily due to a ₹2.7 crore exceptional labour code charge.
Warehousing and Trading segments grew by 11.7% and 22.5% respectively, while Transportation declined 11.3% due to a shift to the 5PL model.
Expanded capacity by 17,000 pallets in FY26, with another 13,000 pallets currently under development in Pune and Patna.
Q4 FY26 showed stronger quarterly performance with PAT increasing 41.8% YoY to ₹5.5 crore compared to ₹3.9 crore in Q4FY25.
👀 What to Watch
Investors should monitor the successful transition to the 5PL model and the impact of new capacity on future margins. While the annual profit decline is concerning, the Q4 recovery and aggressive capacity expansion suggest long-term growth potential.
Snowman Logistics FY26 Revenue Grows 9.4% to ₹604.38 Cr; Q4 PAT Rises to ₹5.54 Cr
Snowman Logistics reported a steady 9.4% growth in annual revenue for FY26, reaching ₹604.38 Crores. While Q4 PAT showed a healthy increase to ₹5.54 Crores compared to ₹3.90 Crores in the previous year, the full-year PAT declined significantly to ₹3.30 Crores from ₹5.69 Crores in FY25. The company maintained stable EBITDA margins despite macroeconomic challenges and geopolitical uncertainties. Management continues to focus on capacity expansion, currently operating 1.55 lakh pallets across 45 warehouses.
Key Highlights
Annual revenue increased by 9.4% YoY to ₹604.38 Crores in FY26.
Q4 FY26 PAT grew to ₹5.54 Crores from ₹3.90 Crores in Q4 FY25, a 42% increase.
Full-year PAT decreased to ₹3.30 Crores in FY26 from ₹5.69 Crores in FY25 despite higher revenue.
Annual EBITDA remained relatively flat at ₹94.53 Crores compared to ₹93.53 Crores in the previous year.
Total warehouse capacity stands at approximately 1.55 Lakh pallets across 45 locations in 21 cities.
👀 What to Watch
Investors should monitor the company's ability to translate revenue growth into bottom-line profits, as annual PAT declined despite higher sales. The focus on capacity expansion is a positive long-term driver, but operational efficiency and margin protection require closer scrutiny.
Snowman Logistics FY26 Revenue Up 9.4% to ₹604 Cr; Q4 PAT Jumps 42% YoY
Snowman Logistics reported a steady 9.4% growth in annual revenue for FY26, reaching ₹60,438 lakhs. While the full-year profit after tax (PAT) saw a decline to ₹330.27 lakhs from ₹569.08 lakhs in the previous year, the Q4 performance showed significant recovery with PAT rising 42% YoY to ₹554.40 lakhs. The company's asset base expanded, with Property, Plant, and Equipment increasing to ₹40,839 lakhs, reflecting ongoing infrastructure investments. However, the full-year Profit Before Tax remained under pressure, ending in a loss of ₹256.05 lakhs before tax adjustments.
Key Highlights
Annual revenue from operations grew 9.4% YoY to ₹60,438.11 lakhs in FY26.
Q4 FY26 PAT surged 42% YoY to ₹554.40 lakhs compared to ₹390.03 lakhs in Q4 FY25.
Full-year FY26 PAT declined to ₹330.27 lakhs from ₹569.08 lakhs in FY25.
Property, Plant and Equipment increased by ~11.7% to ₹40,839.32 lakhs, indicating capacity expansion.
Earnings Per Share (EPS) for FY26 stood at ₹0.20, down from ₹0.34 in the previous fiscal year.
👀 What to Watch
Investors should monitor the company's ability to translate revenue growth into consistent bottom-line profitability, as full-year margins were squeezed despite a strong Q4 recovery. The expansion in fixed assets suggests long-term capacity building, but the stock remains a watch until margin stability is established.
Snowman Logistics Appoints New Independent Directors and Company Secretary
Snowman Logistics has announced a significant refresh of its Board and Key Managerial Personnel effective April 2026. The company appointed Mr. Raghav Chandra (former NHAI Chairman) and Ms. Sriparna Ganguly Chaudhuri as Independent Directors for five-year terms, replacing two outgoing directors who completed their 10-year tenures. Additionally, Ms. Richa Gupta will take over as Company Secretary and Compliance Officer starting May 1, 2026, following the resignation of Mr. Sohan Singh Dhakad. These changes are part of a planned leadership transition and regulatory compliance cycle.
Key Highlights
Appointment of Mr. Raghav Chandra, former IAS and NHAI Chairman, as Independent Director for a 5-year term.
Appointment of Ms. Sriparna Ganguly Chaudhuri, an expert in CSR and social impact, as Independent Director for a 5-year term.
Cessation of Independent Directors Mr. Arun Kumar Gupta and Mr. Bhashkar Avula Reddy effective April 26, 2026.
Ms. Richa Gupta appointed as Company Secretary and Compliance Officer (KMP) effective May 1, 2026.
Revised authorization of KMPs for materiality determination including CEO Padamdeep Singh Handa and CFO Raghav Garg.
👀 What to Watch
These are routine governance updates and board rotations; investors should view this as a standard transition with no immediate impact on business operations.
Snowman Logistics Announces Major Board Refresh and New Company Secretary Appointment
Snowman Logistics has announced a significant leadership reshuffle, appointing Mr. Raghav Chandra and Ms. Sriparna Ganguly Chaudhuri as Independent Directors for five-year terms starting April 20, 2026. These appointments coincide with the departure of two long-standing Independent Directors, Mr. Arun Kumar Gupta and Mr. Bhashkar Avula Reddy, who completed their maximum 10-year tenures. Additionally, Ms. Richa Gupta will take over as Company Secretary and Compliance Officer from May 1, 2026, following the resignation of Mr. Sohan Singh Dhakad. The new board members bring high-level expertise from the Indian Administrative Service (IAS) and the social development sectors.
Key Highlights
Appointment of Mr. Raghav Chandra (IAS Retd.) and Ms. Sriparna Ganguly Chaudhuri as Independent Directors for 5-year terms.
Cessation of two Independent Directors effective April 26, 2026, following completion of two consecutive 5-year terms.
Ms. Richa Gupta appointed as Company Secretary and Compliance Officer effective May 1, 2026.
Outgoing Company Secretary Mr. Sohan Singh Dhakad to transition into a different role within the company.
New directors bring specialized experience in infrastructure (NHAI) and strategic philanthropy/CSR.
👀 What to Watch
These changes are largely routine and driven by regulatory term limits for independent directors. Investors should view this as a standard governance refresh and monitor for any shifts in strategic oversight under the new board members.
Snowman Logistics Appoints New Independent Directors and Company Secretary
Snowman Logistics has announced a significant refresh of its Board and Key Managerial Personnel effective April and May 2026. Two new Independent Directors, Mr. Raghav Chandra and Ms. Sriparna Ganguly Chaudhuri, have been appointed for 5-year terms to replace outgoing directors completing their statutory tenures. Additionally, Ms. Richa Gupta will take over as Company Secretary from May 1, 2026, following the resignation of Mr. Sohan Singh Dhakad. These changes are primarily driven by the completion of 10-year maximum terms for independent directors and internal management restructuring.
Key Highlights
Appointment of Mr. Raghav Chandra (IAS Retd.) and Ms. Sriparna Ganguly Chaudhuri as Independent Directors for 5-year terms starting April 20, 2026.
Cessation of Mr. Arun Kumar Gupta and Mr. Bhaskar Avula Reddy effective April 26, 2026, upon completion of their second 5-year terms.
Ms. Richa Gupta appointed as Company Secretary and Compliance Officer effective May 1, 2026.
Outgoing Company Secretary Mr. Sohan Singh Dhakad to continue in a different role within the company after April 30, 2026.
👀 What to Watch
These are largely routine governance updates due to term completions; investors should view this as a standard succession process that maintains regulatory compliance.
Snowman Logistics Appoints Ex-NHAI Chairman to Board; Announces Management Changes
Snowman Logistics has announced a significant reshuffle of its Board and Key Managerial Personnel. The company appointed Mr. Raghav Chandra, a former IAS officer and ex-Chairman of NHAI, and Ms. Sriparna Ganguly Chaudhuri as Independent Directors for five-year terms starting April 20, 2026. These appointments follow the retirement of two long-standing directors, Mr. Arun Kumar Gupta and Mr. Bhashkar Avula Reddy, who completed their 10-year tenures. Additionally, Ms. Richa Gupta will take over as Company Secretary and Compliance Officer effective May 1, 2026.
Key Highlights
Appointment of Mr. Raghav Chandra (ex-NHAI Chairman) as Independent Director for a 5-year term
Ms. Sriparna Ganguly Chaudhuri appointed as Independent Director for a 5-year term
Cessation of two Independent Directors effective April 26, 2026, following completion of two 5-year terms
Ms. Richa Gupta appointed as Company Secretary and Compliance Officer effective May 1, 2026
Outgoing CS Mr. Sohan Singh Dhakad to transition into a different internal role within the company
👀 What to Watch
These changes represent standard corporate governance and succession planning; investors should view the addition of an infrastructure expert like Mr. Chandra as a long-term positive for strategic oversight.
Snowman Logistics to Establish 6,500-Pallet Cold Storage Facility in Patna
Snowman Logistics is expanding its footprint in Eastern India with a new 6,500-pallet temperature-controlled facility in Patna. Developed under a Built-to-Suit (BTS) model with Nahar Group, the facility is scheduled to be operational by January 2027. The site will offer a wide temperature range from -25°C to +20°C, catering to high-growth sectors like pharmaceuticals, QSR, and seafood. This expansion builds upon the company's existing nationwide capacity of 160,230 pallets across 22 cities.
Key Highlights
New 6,500-pallet capacity facility being developed in Patna, Bihar
Projected to be operational by January 2027 under a Built-to-Suit (BTS) model
Temperature range of -25°C to +20°C to serve pharma, ice cream, and QSR segments
Expands total network capacity beyond the current 160,230 pallets across 22 cities
👀 What to Watch
Investors should monitor the company's ability to maintain high utilization rates as it expands into the Eastern India market. The BTS model is a capital-efficient way to grow, making this a positive long-term development for the stock.
India Ratings Affirms Snowman Logistics' Credit Rating at IND A+; Issue Size Reduced to ₹166.5 Cr
India Ratings and Research has reaffirmed Snowman Logistics' credit rating for its bank facilities at 'IND A+' with a stable outlook and 'IND A1' for short-term facilities. The total rated amount has been reduced from INR 2,025 million to INR 1,665 million, suggesting a reduction in debt exposure or facility requirements. The affirmation reflects the company's stable credit profile and consistent operational performance in the cold chain logistics sector. The rated facilities are primarily held with Axis Bank, comprising term loans and fund-based limits.
Key Highlights
Long-term rating affirmed at 'IND A+' with a Stable outlook
Short-term rating affirmed at 'IND A1' for bank loan facilities
Total rated bank loan facilities reduced by INR 360 million to INR 1,665 million
Facilities include INR 1,165 million in term loans and INR 500 million in fund-based limits from Axis Bank
👀 What to Watch
Investors should view this as a sign of financial stability and creditworthiness. No immediate action is required as the rating remains unchanged, though the reduction in rated debt is a positive indicator of capital management.
Snowman Logistics Q3 FY26: 19% Warehousing Growth Amid Margin Pressure from Business Mix Shift
Snowman Logistics reported a 19% YoY growth in warehousing revenue for Q3 FY26, though EBIT margins in the segment have compressed due to a shift toward dry storage and 5PL models. The company maintains a capex guidance of INR 100-150 crores per annum, with 75-80% expected to be debt-funded alongside build-to-suit expansions. Management addressed governance concerns regarding tax disputes, clarifying that many were settled via amnesty schemes and others are industry-wide issues. Expansion continues with new capacities in Pune, following recent additions in Kolkata and Krishnapatnam.
Key Highlights
Warehousing revenue grew 19% year-on-year and 5% quarter-on-quarter.
Annual capex target set at INR 100-150 crores, primarily funded through 75-80% debt.
Dry storage pallet rates improved to INR 850-1,000 from previous levels of INR 600-700.
Inventory turnover for the 5PL business remains lean at 15-20 days.
Group rake capacity to increase from 34 to 37 by May-June 2026 with new high-speed wagons.
👀 What to Watch
Investors should monitor the margin trajectory as the company scales its lower-margin dry storage and 5PL segments to ensure volume growth offsets the EBIT compression. The stock remains a watch for long-term logistics players given the aggressive capacity expansion and debt-led growth strategy.
Snowman Logistics Declares Rs 0.50 Interim Dividend; Sets Feb 12 as Record Date
Snowman Logistics Limited has declared its first interim dividend of Rs 0.50 per equity share for the financial year 2025-26. The dividend is based on a face value of Rs 10 per share, representing a 5% payout. The company has fixed February 12, 2026, as the record date to determine the eligibility of shareholders for this payment. This announcement follows the Board of Directors meeting held on February 06, 2026.
Key Highlights
First interim dividend of Rs 0.50 per equity share declared for FY 2025-26
Dividend payout is 5% relative to the face value of Rs 10 per share
Record date for eligibility is fixed as February 12, 2026
Board meeting for the declaration was concluded on February 06, 2026
👀 What to Watch
Investors seeking dividend income should ensure they hold the shares before the ex-dividend date to be eligible for the Rs 0.50 per share payout. Existing shareholders can view this as a positive sign of cash flow distribution.
Snowman Logistics Declares First Interim Dividend of ₹0.50 Per Share for FY 2025-26
Snowman Logistics Limited has announced its first interim dividend for the financial year 2025-26. The Board of Directors approved a payout of ₹0.50 per equity share, which has a face value of ₹10. The company has designated February 12, 2026, as the record date to identify shareholders eligible for this payment. This announcement follows the board meeting held on February 06, 2026.
Key Highlights
First interim dividend declared at ₹0.50 per equity share for FY 2025-26
Dividend payout is 5% of the face value of ₹10 per share
Record date for dividend eligibility is fixed as February 12, 2026
The announcement was formalized during the board meeting on February 06, 2026
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the ex-dividend date, which is typically one working day prior to the February 12 record date. Long-term investors should monitor if the company maintains consistent payout ratios in future quarters.
Snowman Logistics Q3FY26 Revenue Up 9% to ₹143.7 Cr; Warehousing Segment Grows 18.6%
Snowman Logistics reported a 9% YoY increase in Q3FY26 revenue to ₹143.7 crore, supported by strong performance in its warehousing and trading divisions. EBITDA grew 10.2% to ₹24.1 crore with margins improving slightly to 16.6%. However, the company posted a net loss of ₹1.9 crore for the quarter, largely due to a one-time exceptional charge of ₹2.8 crore related to newly notified Labour Codes. While the warehousing segment grew 18.6%, the transportation segment faced a temporary 11.6% decline due to a shift in customer mix.
Key Highlights
Revenue from operations increased 9% YoY to ₹143.7 crore in Q3FY26.
Warehousing services revenue grew 18.6% YoY to ₹64 crore, driven by high capacity utilization of 84%.
EBITDA rose 10.2% YoY to ₹24.1 crore with an improved margin of 16.6%.
Reported a net loss of ₹1.9 crore after accounting for a ₹2.8 crore exceptional item for Labour Code compliance.
Expanded capacity to 1,55,099 pallets across 45 warehouses with a new facility in Jaipur.
👀 What to Watch
Investors should monitor the recovery of the transportation segment and the stabilization of employee costs following the Labour Code adjustments. The robust growth in the warehousing division remains a positive indicator for long-term cold chain demand.
