Shares of Snowman Logistics Ltd gained 8.5 percent on Friday’s trading session from the previous close price of Rs 43.05. The stock gained after Gateway Distriparks bought a stake in the company. Correspondingly, shares of Gateway Distriparks Ltd increased by 5.4 percent following the news.
Snowman Logistics shares were trading at Rs 44.50 on the NSE at 13:40 hrs, up 3.25 percent from the previous close, and the company has a market capitalization of Rs 745 crores.
As per BSE filing, Gateway Distriparks Ltd a storage and container freight station operator has purchased an additional 14 lakh shares in Snowman Logistics through open market transactions at an average price of Rs 43.32 per share. Gateway Distriparks purchased 11 lakh shares, or 0.65% of the business, in the prior session as well. Totaling 25 lakh shares or 1.50 percent stake in the company.
In accordance with the company’s standalone financials, operational revenue increased from Rs 76 crore in Q4FY22 to Rs 112 crore in Q4FY23. During the same time period, the company’s net profit improved from a loss of Rs 0.21 crores to a profit of Rs 5 crores.
Financial comparisons show that revenues climbed year over year from Rs 286 crores in FY 21–22 to Rs 417 crores in FY 22–23. Within the timeframe specified, the net profit climbed by 1200 percent from Rs 1 crore to a profit of Rs 13 crore.
Profitability ratios have risen considerably.ROE improved from 0.39 percent in FY 21-22 to 3.17 percent in FY 22-23, while ROCE jumped from 3.36 percent to 6.76 percent. During the same period, the net profit margin moved from 0.58 percent to 3.20 percent, and the debt-to-equity ratio is 0.25.
In the past month, the stock gained 23.72 percent from Rs 36.05 to current levels, and in the previous year, the stock gained 44.01 percent from Rs 30.95 to current levels, outperforming the benchmark Nifty50 index which has remained flat.
According to the latest data pertaining to the shareholding pattern, promoters of the company hold a 40.25 percent stake, and retail investors have a 57.27 percent stake in the company for FY 22-23.
Written by Omkar C
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