Small-cap stock engaged in providing integrated temperature-controlled logistics jumped 4 percent in the day’s trade upon expanding its operational capacity.
At 1:50 p.m the shares of Snowman Logistics Limited were trading at Rs. 65.55, up 3.23 percent from its previous day’s close price of Rs. 63.50 and its market capitalization is Rs. 1,100 Crores.
Snowman Logistics Limited has expanded its operational capacity by commencing operations at a newly leased multi-temperature controlled warehouse in Guwahati, Assam.
The total capacity of the warehouse is 5,152 pallets and this facility features eight chambers and four loading bays, equipped with the latest infrastructure. Specifically designed to accommodate products from ambient temperatures to minus 25 degrees Celsius
The prime focus of the warehouse will be providing storage, handling, and transportation services for ice cream, poultry, ready-to-eat food, dairy products, confectionery, bakery products, seafood, fruits and vegetables, and other products like pharmaceuticals, specialized chemicals, and various commodities.
With this expansion, the overall pallet capacity has soared to an impressive 1,41,000+ pallets, strategically distributed across 20 cities, thereby expanding its foothold in Northeast India.
Snowman Logistics Limited is engaged in the business of providing integrated temperature-controlled logistics, which includes storage, transportation, and distribution of goods in a controlled temperature environment.
It has recently deployed 20 brand-new 40-foot trailers and 50 new reefer trucks, marking Snowman’s entry into the trailer business for city distribution.
It has a pan India network of 45 warehouses across 19 cities with a pallet capacity of 1,36,753 with 600+ vehicles used for transportation and distribution.
The company’s revenue from operations grew 45.94 percent from Rs. 286.17 Crores in FY22 to Rs. 417.65 Crores in FY23, accompanied by increasing profits of Rs. 1.68 Crore to Rs. 13.4 Crores.
Written by: Bharath K.S
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