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SNOWMAN - Snowman Logistic

📊 NSE: SNOWMAN 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 13:31

📢 Recent Corporate Announcements

Snowman Logistics to Establish 6,500-Pallet Cold Storage Facility in Patna

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 13 Mar 2026, 01:05 PM

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.

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

💡 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

🟡 NEUTRAL ⭐ 6/10

ROUTINE 📅 11 Mar 2026, 05:42 PM

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.

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

💡 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

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 12 Feb 2026, 04:52 PM

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.

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.

💡 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 Releases Q3 FY2026 Earnings Conference Call Recording

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 06 Feb 2026, 06:08 PM

Snowman Logistics has officially released the audio recording of its conference call held on February 6, 2026. The call focused on the unaudited financial results for the third quarter and the nine-month period ending December 31, 2025. This disclosure provides investors and analysts with direct access to management's commentary on the company's operational performance and strategic direction. Such recordings are vital for understanding the underlying drivers of the company's financial health in the cold chain logistics sector.

Audio recording of the Q3 FY2026 conference call is now available for public review.
The call discussed financial performance for the quarter and nine months ended December 31, 2025.
The disclosure was made on February 6, 2026, following the scheduled investor meet.
Provides transparency into management's outlook on the cold chain logistics industry.

💡 Investors should listen to the recording to gain insights into capacity utilization rates and future expansion plans. Pay specific attention to management's guidance on margin pressures and demand from the pharma and QSR sectors.

Snowman Logistics Declares Rs 0.50 Interim Dividend; Sets Feb 12 as Record Date

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 06 Feb 2026, 12:44 PM

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.

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

💡 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

🟢 POSITIVE ⭐ 6/10

DIVIDEND 📅 06 Feb 2026, 12:43 PM

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.

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

💡 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%

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 12:27 PM

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.

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.

💡 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.

Snowman Logistics Q3 Revenue Rises 9% to ₹143.72 Cr; EBITDA Grows to ₹24.06 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 12:25 PM

Snowman Logistics reported a 9.01% year-on-year revenue growth for the quarter ended December 31, 2025, reaching ₹143.72 Crores. Adjusted EBITDA improved to ₹24.06 Crores from ₹21.83 Crores in the previous year's corresponding quarter. The company is actively expanding its footprint by entering Pune and Patna markets using a Built-to-Suit (BTS) model. Management anticipates increased demand from the seafood sector following new trade agreements with the USA, EU, and UK.

Revenue grew 9.01% YoY to ₹143.72 Crores in Q3 FY26
Adjusted EBITDA rose to ₹24.06 Crores from ₹21.83 Crores YoY
Announced entry into Pune and Patna markets via BTS model
Total pallet capacity reached 1,55,099 across 45 warehouses
Management expects trade agreements with USA/EU/UK to boost seafood logistics demand

💡 Investors should focus on the company's transition towards an asset-light model and the ramp-up of new facilities in Pune and Patna. The positive outlook on seafood exports could provide a margin-accretive volume boost in upcoming quarters.

Snowman Logistics Declares ₹0.50 Interim Dividend Despite Q3 Net Loss of ₹1.87 Crore

🟡 NEUTRAL ⭐ 7/10

DIVIDEND 📅 06 Feb 2026, 11:59 AM

Snowman Logistics has declared its first interim dividend of ₹0.50 per share for FY 2025-26, setting February 12, 2026, as the record date. The company reported Q3 FY26 revenue of ₹143.72 crore, representing a 9% year-on-year growth, though it faced a sequential decline from Q2. Despite the revenue growth, the company posted a net loss of ₹1.87 crore for the quarter, which is an improvement from the ₹2.91 crore loss in the preceding quarter. The warehousing segment remains the primary driver, contributing ₹63.88 crore to the total revenue.

Declared first interim dividend of ₹0.50 per equity share with a Record Date of February 12, 2026.
Q3 FY26 Revenue from operations reached ₹143.72 crore, up 9% YoY from ₹131.85 crore.
Reported a Net Loss of ₹1.87 crore for the quarter, compared to a loss of ₹0.61 crore in Q3 FY25.
Warehousing segment revenue grew to ₹63.88 crore, while Transportation services saw a decline to ₹31.37 crore.
Nine-month total income stands at ₹464.68 crore with a cumulative net loss of ₹2.24 crore.

💡 While the dividend provides immediate yield, investors should remain cautious as the company continues to report net losses at the bottom line. Monitor the warehousing segment's growth and the company's ability to turn profitable in the coming quarters before increasing exposure.

Snowman Logistics Q3 Revenue Up 9% YoY to ₹143.7 Cr; Declares ₹0.50 Interim Dividend

🔵 WATCH ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 11:57 AM

Snowman Logistics reported Q3 FY26 revenue of ₹143.72 crore, a 9% increase compared to the same quarter last year. Despite the revenue growth, the company posted a net loss of ₹1.87 crore, although this is a sequential improvement from the ₹2.91 crore loss in Q2 FY26. The board has declared a first interim dividend of ₹0.50 per share, with a record date of February 12, 2026. The warehousing segment remains the strongest performer, contributing ₹63.88 crore to the total revenue for the quarter.

Revenue from operations grew 9% YoY to ₹14,372.48 lakhs in Q3 FY26.
Net loss for the quarter narrowed to ₹187.31 lakhs from a loss of ₹291.10 lakhs in the previous quarter.
Declared a first interim dividend of ₹0.50 per equity share (5% of face value).
Warehousing segment revenue increased to ₹6,388.15 lakhs, up from ₹6,102.52 lakhs in Q2 FY26.
Nine-month revenue stands at ₹46,206.98 lakhs, an 11.2% increase over the previous year's ₹41,551.97 lakhs.

💡 Investors should monitor the company's path to profitability as it remains in a net loss position despite steady revenue growth. The interim dividend provides some immediate return, but long-term value depends on margin improvement in the transportation and trading segments.

Snowman Logistics Declares ₹0.50 Interim Dividend; Q3 Revenue Up 9% to ₹143.7 Cr

🔵 WATCH ⭐ 7/10

DIVIDEND 📅 06 Feb 2026, 11:47 AM

Snowman Logistics has declared its first interim dividend of ₹0.50 per equity share for FY 2025-26, setting February 12, 2026, as the record date. Despite a 9% year-on-year growth in Q3 revenue to ₹143.72 crore, the company reported a net loss of ₹1.87 crore for the quarter. For the nine-month period ended December 2025, the company has swung to a net loss of ₹2.24 crore compared to a profit of ₹1.79 crore in the previous year. Growth in the warehousing and trading segments was offset by a decline in transportation revenue and higher operating expenses.

Declared first interim dividend of ₹0.50 per equity share (5% of face value)
Q3 FY26 revenue increased 9% YoY to ₹14,372.48 lakhs from ₹13,184.74 lakhs
Net loss for Q3 FY26 widened to ₹187.31 lakhs compared to a loss of ₹61.39 lakhs YoY
9M FY26 performance shifted to a net loss of ₹224.13 lakhs from a profit of ₹179.04 lakhs in 9M FY25
Warehousing segment revenue grew 18.5% YoY to ₹6,388.15 lakhs in the December quarter

💡 Investors should weigh the dividend yield against the company's deteriorating profitability, as rising costs are currently outpacing revenue growth. Monitor the warehousing segment's expansion as it remains the primary driver of top-line growth while transportation margins remain under pressure.

Snowman Logistics Reports Q3 Loss of ₹1.87 Cr; Declares ₹0.50 Interim Dividend

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 06 Feb 2026, 11:46 AM

Snowman Logistics reported a standalone net loss of ₹1.87 crore for Q3 FY26, showing a sequential improvement from a loss of ₹2.91 crore in Q2 FY26, but a decline from a loss of ₹0.61 crore in the same quarter last year. Revenue from operations grew 9% year-on-year to ₹143.72 crore, supported by growth in the warehousing segment. Despite the net loss, the company declared a first interim dividend of ₹0.50 per share for FY 2025-26. The nine-month performance shows a shift to a net loss of ₹2.24 crore compared to a profit of ₹1.79 crore in the previous year's corresponding period.

Revenue from operations increased 9% YoY to ₹143.72 crore in Q3 FY26.
Net loss for the quarter stood at ₹1.87 crore, impacted by an exceptional item of ₹2.77 crore.
Declared first interim dividend of ₹0.50 per equity share with a record date of February 12, 2026.
Warehousing segment revenue grew to ₹63.88 crore, while Transportation revenue dipped to ₹31.36 crore.
9M FY26 net loss reached ₹2.24 crore versus a net profit of ₹1.79 crore in 9M FY25.

💡 Investors should be cautious as the company has swung from a profit to a loss on a nine-month basis, despite steady revenue growth in warehousing. The interim dividend offers some immediate return, but long-term value depends on stabilizing the bottom line and managing exceptional costs.

Snowman Logistics to Hold Q3 FY26 Earnings Conference Call on February 6, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 03 Feb 2026, 04:49 PM

Snowman Logistics Limited has scheduled a conference call for Friday, February 06, 2026, at 4:30 PM IST to discuss its financial performance for the quarter ended December 31, 2025. The call will feature the senior management team and is being organized in coordination with Gateway Distriparks Limited. This interaction provides a platform for investors to gain insights into the company's operational performance and future outlook. Interested parties can participate via the provided Zoom webinar registration link.

Conference call scheduled for February 06, 2026, at 04:30 PM IST
Management to discuss financial results for the quarter ended December 31, 2025
Joint call invitation with parent/associate company Gateway Distriparks Limited
Public registration link provided for the Zoom-based webinar session

💡 Investors should attend or review the transcript of the call to understand management's guidance on cold chain demand and margin sustainability. Focus on updates regarding capacity utilization and any new expansion projects.

Snowman Logistics Board to Consider Q3 Results and Interim Dividend on Feb 06, 2026

🟢 POSITIVE ⭐ 7/10

BOARD_MEETING 📅 02 Feb 2026, 06:50 PM

Snowman Logistics has scheduled a Board Meeting on February 06, 2026, to approve the unaudited financial results for the quarter ended December 31, 2025. The board will also consider and potentially declare the first interim dividend for the financial year 2025-26. If the dividend is approved, the company has already fixed February 12, 2026, as the record date for determining shareholder eligibility. The trading window for insiders remains closed until February 08, 2026.

Board meeting scheduled for February 06, 2026, to discuss Q3 FY26 financial results.
Consideration of the first interim dividend for the financial year 2025-26 is on the agenda.
Record date for the proposed dividend is set for February 12, 2026.
Trading window for designated persons remains closed from January 01 to February 08, 2026.

💡 Investors should watch for the dividend announcement and Q3 performance on February 06. To be eligible for the dividend, shares must be held prior to the ex-dividend date related to the February 12 record date.

Snowman Logistics Reports 100% Dematerialized Share Capital for Q3 FY26

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Jan 2026, 04:32 PM

Snowman Logistics has filed its Reconciliation of Share Capital Audit Report for the quarter ended December 31, 2025. The report confirms that the total issued and listed capital remains stable at 16,70,87,995 equity shares. A significant highlight is that 100% of the company's shares are now held in dematerialized form, with zero physical shares remaining. The audit, conducted by a practicing company secretary, found no discrepancies in share capital or pending demat requests beyond 21 days.

Total issued and listed capital remains unchanged at 16,70,87,995 equity shares of Rs. 10 each.
100% of the share capital is dematerialized, with 72.08% (12.04 crore shares) in CDSL and 27.91% (4.66 crore shares) in NSDL.
Zero shares are held in physical form as of December 31, 2025.
No changes in share capital occurred during the quarter through rights, bonus, or ESOPs.
There are no pending dematerialization requests beyond the statutory 21-day period.

💡 This is a routine regulatory filing that confirms the company's compliance and the integrity of its share capital records. No action is required from investors as there are no changes to the capital structure.

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💰 Financial Performance

Revenue Growth by Segment

In Q2 FY26, total revenue grew 8.5% YoY to INR 155.65 Cr. Segment-wise: Warehousing Services grew 9.6% to INR 61 Cr; Transportation Services declined 10.8% to INR 32 Cr; Trading and Distribution grew 20.6% to INR 63 Cr. For FY25, total revenue was INR 552.53 Cr, up 9.77% from INR 503.37 Cr in FY24.

Geographic Revenue Split

Not disclosed in available documents, though the company operates across 31 strategic locations in 15 cities with a pan-India presence.

Profitability Margins

Profitability showed a downward trend in FY25: Operating profit margin decreased 40% from 10% to 6%; Net profit margin decreased 50% from 2% to 1%. In Q2 FY26, the company reported a PAT loss of INR 2.9 Cr compared to a profit of INR 0.6 Cr in Q2 FY25, primarily due to higher costs in the transportation segment.

EBITDA Margin

EBITDA margin for FY25 was 16.93%, a decline of 21.3% from 21.52% in FY24. Absolute EBITDA fell 13.66% to INR 93.52 Cr from INR 108.31 Cr, impacted by rising input costs and pricing pressure in the logistics sector.

Capital Expenditure

Snowman plans to spend INR 100 Cr to INR 150 Cr annually on capital programs. This includes constructing 2-3 owned warehouses per year and expanding the fleet with EV and CNG vehicles. Historically, the company incurred INR 312 Cr in capex over five fiscals through 2022.

Credit Rating & Borrowing

CRISIL Ratings maintains an 'Adequate' liquidity profile. Gearing was 0.25 times as of March 31, 2023. Interest coverage ratio for FY25 stood at 1.25, a 39.32% decrease from 2.06 in FY24 due to lower profitability.

⚙️ Operational Drivers

Raw Materials

Crude oil (fuel) is the primary variable cost for transportation, impacting the 600+ truck fleet. Other costs include electricity for temperature-controlled warehouses and labor for handling 70+ million units monthly.

Import Sources

Not specifically disclosed, but fuel is sourced domestically through Indian oil marketing companies, while warehousing equipment is sourced for 44 locations across India.

Key Suppliers

Not disclosed in available documents, though the company relies on third-party partners for a portion of its transportation fleet and warehousing assets.

Capacity Expansion

Current pallet capacity is 1,41,197 as of March 31, 2025. Planned expansion includes new warehouses in Kolkata (5,000 pallets), Bhubaneswar (4,500 pallets), and Lucknow (4,000 pallets) to start operations in FY25.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but escalating crude oil prices are cited as a major factor driving up input costs and prompting clients to intensify cost control measures.

Manufacturing Efficiency

The company handles an average of 150,000+ pallets and 2,500+ trips per month. Warehousing segment results fell 16.68% to INR 42.37 Cr in FY25, indicating a decline in operational efficiency despite stable capacity.

Logistics & Distribution

Distribution costs are a major component of the Transportation and Trading segments, which together accounted for 59% of total revenue in FY25.

📈 Strategic Growth

Expected Growth Rate

12.20%

Growth Strategy

Growth will be driven by a INR 100-150 Cr annual capex plan focusing on owned warehouses and land. The company is realigning its transportation business model to restore high single-digit PBT margins and is expanding its 5PL (Fifth Party Logistics) offerings to provide end-to-end supply chain optimization.

Products & Services

Temperature-controlled warehousing, last-mile distribution, inter-city transportation, trading and distribution of goods, and 5PL supply chain solutions.

Brand Portfolio

SNOWPRESERVE (Warehousing), SNOWLINE (Transportation), SNOWREACH (Logistics), SNOWDISTRIBUTE (Distribution).

New Products/Services

Expansion into 5PL services and sourcing services for client companies. The company is also exploring EV and CNG vehicles for its transportation fleet to improve sustainability and reduce fuel cost volatility.

Market Expansion

Targeting new strategic locations including Kolkata, Bhubaneswar, and Lucknow with approximately 13,500 new pallet positions expected to be operational in FY25.

Market Share & Ranking

Not disclosed for the overall cold chain market, but parent GDL has a 16-17% market share in the NCR region for ICD operations.

Strategic Alliances

Operational and strategic linkages with parent company Gateway Distriparks Limited (GDL), which holds a 40.25% stake and provides a pan-India network advantage.

🌍 External Factors

Industry Trends

The temperature-controlled industry is evolving toward integrated 5PL solutions and technology-led differentiation. Current industry growth is supported by the National Logistics Policy (NLP) and PM Gati Shakti, though it remains highly fragmented with many unorganized players.

Competitive Landscape

Highly fragmented with a large presence of unorganized players. Key competition comes from local players, though they lack the end-to-end service quality of organized players like Snowman.

Competitive Moat

Moat is built on a pan-India integrated network, parentage of GDL, and high-quality certifications (ISO-22000, BRC, GDP). These are sustainable due to the high capital intensity (INR 312 Cr+ capex) required to replicate such infrastructure.

Macro Economic Sensitivity

Highly sensitive to fuel price inflation and GDP growth, which dictates demand across end-user segments like QSR, E-commerce, and FMCG.

Consumer Behavior

Increased demand for QSR, e-commerce, and organized retail is driving the need for sophisticated cold chain logistics and last-mile delivery.

Geopolitical Risks

Exposure to global commodity price volatility (crude oil) which impacts domestic logistics costs and pricing.

⚖️ Regulatory & Governance

Industry Regulations

Subject to National Logistics Policy (NLP) and PM Gati Shakti mandates. Warehouses must maintain ISO-22000, ISO 14001, and BRC certifications to serve pharmaceutical and food clients.

Environmental Compliance

The company is adopting ESG-driven mandates and exploring EV/CNG vehicles to comply with evolving environmental regulations.

Taxation Policy Impact

The effective tax rate for FY25 was approximately 5.07% (INR 30.39 lakhs tax on INR 599.47 lakhs PBT).

⚠️ Risk Analysis

Key Uncertainties

Implementation risk of planned capex (INR 100-150 Cr/year) and the ability to translate new capacity into healthy demand. Operating margin weakening below 25% is a key downward rating factor.

Geographic Concentration Risk

Operates across 15 cities; however, specific revenue concentration by city is not provided.

Third Party Dependencies

Significant dependency on third-party partners for transportation fleets and warehousing assets, which could disrupt service quality if not managed effectively.