Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹690Cr
Logistics - Warehousing/Supply Chain
Rev Gr TTM
Revenue Growth TTM
10.52%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

SNOWMAN
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 46.6 | 47.5 | 14.2 | 13.4 | 12.6 | 8.9 | 15.7 | 6.3 | 8.3 | 16.0 | 8.5 | 9.0 |
| 91 | 105 | 100 | 98 | 100 | 117 | 121 | 112 | 113 | 138 | 136 | 121 |
Operating Profit Operating ProfitCr |
| 19.3 | 18.8 | 19.4 | 21.2 | 21.3 | 16.7 | 15.4 | 15.0 | 17.6 | 15.0 | 12.8 | 15.8 |
Other Income Other IncomeCr | 4 | 1 | 2 | 1 | 3 | 1 | 1 | 2 | 0 | 1 | 1 | -1 |
Interest Expense Interest ExpenseCr | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 |
Depreciation DepreciationCr | 13 | 14 | 15 | 15 | 16 | 16 | 16 | 16 | 15 | 16 | 17 | 17 |
| 7 | 6 | 5 | 7 | 8 | 3 | 1 | -1 | 3 | 4 | -4 | -3 |
| 2 | 3 | 2 | 2 | 6 | 1 | 0 | 0 | -1 | 1 | -1 | -1 |
|
Growth YoY PAT Growth YoY% | 2,418.2 | 78.8 | 9.7 | 13.6 | -57.8 | -47.0 | -79.2 | -114.3 | 81.4 | 41.9 | -577.0 | -206.6 |
| 4.5 | 2.6 | 2.4 | 3.4 | 1.7 | 1.3 | 0.4 | -0.5 | 2.9 | 1.6 | -1.9 | -1.3 |
| 0.3 | 0.2 | 0.2 | 0.3 | 0.1 | 0.1 | 0.0 | -0.1 | 0.2 | 0.1 | -0.2 | -0.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 32.3 | 10.8 | -15.8 | 2.7 | 19.7 | 3.3 | -1.3 | 20.7 | 46.0 | 20.5 | 9.8 | 8.4 |
| 156 | 176 | 153 | 150 | 174 | 179 | 172 | 216 | 329 | 402 | 463 | 508 |
Operating Profit Operating ProfitCr |
| 23.2 | 21.6 | 19.2 | 22.9 | 25.4 | 25.3 | 27.4 | 24.4 | 21.2 | 20.2 | 16.2 | 15.2 |
Other Income Other IncomeCr | 5 | 3 | -2 | 4 | 3 | 3 | 3 | 4 | 8 | 7 | 4 | 0 |
Interest Expense Interest ExpenseCr | 12 | 9 | 11 | 12 | 10 | 20 | 17 | 18 | 22 | 24 | 24 | 26 |
Depreciation DepreciationCr | 25 | 30 | 39 | 40 | 41 | 51 | 49 | 51 | 52 | 59 | 63 | 66 |
| 15 | 12 | -15 | -4 | 11 | -6 | 2 | 4 | 22 | 25 | 6 | 0 |
| -10 | -9 | -11 | 0 | 1 | 9 | 2 | 2 | 8 | 13 | 0 | -2 |
|
| 10.1 | -17.0 | -124.0 | 27.8 | 372.9 | -254.5 | 100.4 | 2,693.8 | 699.1 | -5.1 | -55.2 | -70.8 |
| 12.2 | 9.1 | -2.6 | -1.8 | 4.2 | -6.3 | 0.0 | 0.6 | 3.2 | 2.5 | 1.0 | 0.3 |
| 1.7 | 1.2 | -0.3 | -0.2 | 0.6 | -0.9 | 0.0 | 0.1 | 0.8 | 0.8 | 0.3 | 0.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 167 | 167 | 167 | 167 | 167 | 167 | 167 | 167 | 167 | 167 | 167 | 167 |
| 251 | 266 | 262 | 258 | 268 | 253 | 253 | 255 | 255 | 251 | 240 | 239 |
Current Liabilities Current LiabilitiesCr | 55 | 68 | 49 | 66 | 63 | 49 | 42 | 60 | 79 | 94 | 99 | 106 |
Non Current Liabilities Non Current LiabilitiesCr | 75 | 121 | 121 | 98 | 64 | 173 | 205 | 246 | 224 | 234 | 265 | 281 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 139 | 87 | 61 | 59 | 59 | 62 | 107 | 112 | 139 | 148 | 129 | 130 |
Non Current Assets Non Current AssetsCr | 409 | 535 | 537 | 530 | 503 | 580 | 560 | 615 | 586 | 598 | 642 | 664 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 52 | 39 | 49 | 37 | 53 | 56 | 71 | 69 | 86 | 88 | 65 |
Investing Cash Flow Investing Cash FlowCr | -90 | -138 | -28 | -27 | -11 | -4 | -41 | -99 | -42 | -24 | -52 |
Financing Cash Flow Financing Cash FlowCr | 106 | 37 | -23 | -20 | -52 | -51 | 0 | 17 | -58 | -59 | -17 |
|
Free Cash Flow Free Cash FlowCr | -43 | -102 | 21 | 10 | 42 | 52 | 41 | -27 | 72 | 53 | -22 |
| 211.6 | 188.9 | -1,002.6 | -1,030.7 | 547.8 | -370.5 | 1,17,869.2 | 4,108.7 | 645.5 | 691.1 | 1,149.5 |
CFO To EBITDA CFO To EBITDA% | 111.4 | 79.8 | 135.9 | 82.5 | 90.2 | 91.4 | 108.8 | 98.8 | 97.6 | 86.5 | 73.3 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 1,414 | 890 | 1,059 | 746 | 551 | 529 | 734 | 510 | 535 | 1,223 | 748 |
Price To Earnings Price To Earnings | 61.5 | 43.3 | 0.0 | 0.0 | 56.8 | 0.0 | 0.0 | 305.5 | 40.0 | 96.3 | 131.6 |
Price To Sales Price To Sales | 7.0 | 4.0 | 5.6 | 3.8 | 2.4 | 2.2 | 3.1 | 1.8 | 1.3 | 2.4 | 1.4 |
Price To Book Price To Book | 3.4 | 2.0 | 2.5 | 1.8 | 1.3 | 1.3 | 1.8 | 1.2 | 1.3 | 2.9 | 1.8 |
| 29.8 | 20.3 | 31.6 | 18.5 | 10.3 | 11.6 | 14.0 | 10.7 | 8.9 | 14.7 | 11.7 |
Profitability Ratios Profitability Ratios |
| 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 | 81.2 | 74.0 | 69.4 |
| 23.2 | 21.6 | 19.2 | 22.9 | 25.4 | 25.3 | 27.4 | 24.4 | 21.2 | 20.2 | 16.2 |
| 12.2 | 9.1 | -2.6 | -1.8 | 4.2 | -6.3 | 0.0 | 0.6 | 3.2 | 2.5 | 1.0 |
| 5.5 | 3.8 | -0.8 | 1.6 | 4.3 | 2.2 | 3.0 | 3.3 | 6.4 | 7.0 | 4.3 |
| 5.9 | 4.7 | -1.1 | -0.8 | 2.2 | -3.6 | 0.0 | 0.4 | 3.2 | 3.0 | 1.4 |
| 4.5 | 3.3 | -0.8 | -0.6 | 1.7 | -2.3 | 0.0 | 0.2 | 1.9 | 1.7 | 0.7 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Snowman Logistics Limited is India’s leading integrated temperature-controlled logistics provider and the **largest cold chain network operator** in the country. Established in 1993 and majority-owned by **Gateway Distriparks Limited (GDL)** since 2006, Snowman has evolved into a comprehensive **Fifth-Party Logistics (5PL)** service provider, offering end-to-end supply chain solutions beyond traditional warehousing and transportation.
As of November 2025, Snowman operates an extensive pan-India network of **44 warehouses across 21 cities**, with a total cold storage capacity of **154,330 pallets**. The company serves over **794 customers** across 13 industries, including pharmaceuticals, dairy, seafood, QSR, FMCG, e-commerce, and industrial goods, handling more than **437,000 pallets annually**.
---
### **Core Business Segments & Services**
#### 1. **Long-Haul and Last-Mile Transportation**
- Snowman provides **long-haul refrigerated transportation (SNOWLINE®)** and **city delivery services (SNOWREACH®)** with real-time GPS and **temperature monitoring** to ensure cargo integrity.
- Fleet comprises **over 600 refrigerated vehicles**, including both owned (296+) and leased units, enabling scalability and nationwide coverage.
- Services include 24x7 tracking, flexible billing, and multi-temperature vehicle routing for primary and secondary distribution.
#### 2. **Advanced Warehousing – SNOWPRESERVE®**
- Operates **44 warehousing facilities** (combination of cold, chilled, frozen, and dry) across 21 major Indian cities, including Mumbai, Delhi, Bengaluru, Chennai, Kolkata, and Pune.
- Total landholding exceeds **3 million square feet**, with state-of-the-art infrastructure supporting temperatures from **+20°C to -25°C**, and **blast freezers at -40°C**.
- All facilities are **FSSAI, ISO 22000, BRC, and ISO 14001 certified**, with 100% power backup, solar integration, and eco-friendly refrigerants.
#### 3. **Fifth-Party Logistics (5PL) – SNOWDISTRIBUTE®**
- **First Indian cold chain company** to launch 5PL services, positioning it as a **strategic supply chain partner**.
- Offers **end-to-end supply chain ownership**, including:
- Procurement and sourcing
- Inventory and vendor management
- Order fulfillment and last-mile distribution
- Billing and collections
- Leverages technology to optimize supply chains, with **over 1,500 SKUs managed**, serving **1,200+ customer outlets** and coordinating **200+ vendor partners**.
- Major clients include **Unilever, IKEA, Tim Hortons, Baskin Robbins, Kopi Kenangan, and Amazon**.
#### 4. **Technology & Digital Transformation**
- Fully integrated **proprietary software platforms** including:
- **Snowman Order Management System (SOMS)**: Streamlines order processing and approvals.
- **SnowLink®**: Technology platform that aggregates third-party logistics resources for flexible, scalable distribution.
- **Real-time dashboards and command centers** for 24/7 monitoring of inventory, fleet, and temperature conditions.
- IoT-enabled reefer fleets with live alerts and remote diagnostics.
- Advanced **automation**, data analytics, and ERP integrations enhance accuracy, compliance, and operational efficiency.
---
### **Operational Strengths & Network Reach**
- **Nationwide Coverage**: 44 warehouses in 21 cities, with strategic presence in key production and consumption hubs.
- **High Utilization Rates**: Consistently maintains **82–91% capacity utilization**, reflecting strong demand and optimized operations.
- **Diverse Customer Base**: Serves marquee brands in high-growth sectors such as QSR, pharma, e-commerce, and dairy.
- **Workforce**: Employs **over 2,857 skilled personnel**, supported by continuous training and skill development.
- **Sustainability Initiatives**:
- Rooftop **solar power installations** across warehouses.
- Deployment of **electric and PCM-based (Phase Change Material) refrigerated vehicles**.
- Focus on energy efficiency and carbon footprint reduction.
---
### **Growth Strategy & Expansion (FY2025–FY2026)**
- **Hybrid Expansion Model**: Balances **owned assets** (e.g., Kolkata, Krishnapatnam) with **asset-light leased facilities** (e.g., Kundli, Pune) for capital efficiency.
- **New Facility in Pune (BTS - Built-to-Suit)**:
- Capacity: **5,900 pallets**
- Expected operational by **June 2026**
- Will serve ice cream, dairy, pharmaceuticals, and QSRs
- Increases Pune’s total capacity to **21,900 pallets**
- **Upcoming Projects**: Expansion in **Lucknow, Hyderabad**, and **Northeast India** (Guwahati), with focus on pharma, e-commerce, and chilled/frozen logistics.
- **Targeted CAPEX**: ₹100–150 crores planned for FY2026, focused on capacity addition and tech upgrades.
---
### **Financial Performance (FY2025)**
- **Revenue**: ₹552.53 crores (10% YoY growth vs ₹503.37 crores in FY2024)
- **Trading & Distribution (5PL) Growth**: **26% YoY**, becoming a key profit driver.
- **Asset Utilization**: ~91%, with **fleet growth of 6.86%** YoY.
- **Marginal Expansion**: 5PL services enable **higher pricing (average ASP ₹1,500/pallet)** and improved margins.
---
### **Market Position & Competitive Advantage**
- **Market Leadership**: Largest cold chain network in India with **154,330 pallet capacity** and full integration from source to store.
- **First-Mover in 5PL**: Differentiates from 3PL/4PL players by acting as a full supply chain manager.
- **Regulatory Compliance**: Meets global standards, making it a preferred partner for MNCs and export-oriented businesses.
- **Rail & Multimodal Integration**: Exploring domestic rail potential via **Dedicated Freight Corridor (DFC)**; currently handles EXIM cargo via GDL’s intermodal network.
---
### **Parent Group – Gateway Distriparks Limited (GDL)**
- Snowman is a **subsidiary of Gateway Distriparks Limited**, promoted by **Mr. Prem Kishan Dass Gupta** and family.
- GDL is **India’s largest private container train operator**, managing:
- 34 rakes, 525+ road trailers
- Inland Container Depots (ICDs) and Container Freight Stations (CFSs) across India
- Annual handling capacity exceeding 710,000 TEUs
- Strategic synergy between GDL’s rail logistics and Snowman’s cold chain enables **multimodal, cross-border logistics solutions**.