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SNOWMAN · price
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Snowman Logistics reported FY26 revenue of ₹60,438.11 lakhs, up 9.4% from ₹55,253.45 lakhs in FY25. However, the company posted a net loss of ₹256.05 lakhs for FY26 compared to a profit of ₹599.47 lakhs in FY25, primarily due to a higher tax outgo (₹462.51 lakhs tax expense vs a tax credit last year) from MAT credit utilisation and deferred tax remeasurement. Q4 FY26 alone showed a profit of ₹554.40 lakhs. The statutory auditor S.R. Batliboi & Co. LLP issued an unmodified (clean) opinion. The company has disclosed related party land purchases with Gateway Distriparks and ongoing GST/income tax disputes totaling ₹1,395.11 lakhs as contingent liabilities.
The shift to FY26 loss despite revenue growth is a concern, but Q4 performance is strong. The clean audit opinion provides some comfort. Tax timing items contributed significantly to the loss; underlying operations remain positive with EBITDA of ~₹9,179 lakhs.