Transcript of Investor Meet
SNOWMAN · price
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Snowman Logistics, a cold chain logistics company, held its Q4 FY26 investor call alongside parent Gateway Distriparks. The company reiterated its INR1,000 crores revenue target but acknowledged it will likely be deferred to FY29 (from originally targeted FY28) due to West Asia geopolitical disruptions affecting volumes. Management guided a 15% EBITDA margin target at INR1,000 crores scale (INR150 crores EBITDA). Key headwinds include a 20% rise in COGS versus 10% revenue growth, driven by new warehouse ramp-ups in Kolkata and Krishnapatnam, high DG costs from power cuts, and growth in lower-margin trading (5PL) business. The company is the market leader in organized cold storage with 160,000 pallets capacity. They plan INR50 crores capex for FY27 including owned warehouses and fleet expansion. Transportation segment remains under stress but management committed to retaining owned vehicles to mitigate outsourcing risks.
The deferral of the INR1,000 crores target and margin pressures from COGS inflation and new facility ramp-ups suggest near-term earnings challenges. However, the 15% EBITDA margin guidance at scale and ongoing price hikes being passed to customers indicate management confidence in long-term profitability improvement.