Snowman Logistics Q2 FY27 results: net profit ₹0.96 crore vs ₹2.91 crore loss, revenue up 5.1%

How did Snowman Logistics perform in Q2 FY27?

Snowman Logistics reported standalone revenue of ₹163.56 crore for Q2 FY27, up ₹7.91 crore or 5.1% from ₹155.65 crore in Q2 FY26. Total income rose 5.5% to ₹164.85 crore from ₹156.22 crore, while EBITDA increased 19.9% to ₹23.96 crore from ₹19.99 crore. EBITDA margin improved 1.8 percentage points to 14.6% from 12.8%.

Profit before tax turned positive at ₹1.50 crore from a net loss of ₹4.23 crore, while profit after tax was ₹0.96 crore against a net loss of ₹2.91 crore. Basic EPS was ₹0.06 compared with -0.17. Against Q1 FY27, revenue fell ₹14.12 crore or 7.9%, EBITDA fell ₹4.65 crore or 16.3%, and profit after tax fell ₹3.59 crore or 78.9%. The quarter’s EBITDA margin was 1.5 percentage points lower than Q1 FY27’s 16.1%.

The reported results are standalone. The same-day investor presentation used a different presentation basis, showing revenue of ₹163.6 crore, EBITDA of ₹25.3 crore and a 15.3% EBITDA margin for Q2 FY27; the figures in this article follow the standalone financial results filed with the stock exchanges.

What changed in Snowman Logistics' costs and profit?

Against Q2 FY26, other income rose ₹0.72 crore to ₹1.29 crore, employee cost increased ₹0.82 crore to ₹12.44 crore, other expenses increased ₹3.91 crore to ₹70.27 crore and depreciation rose ₹0.10 crore to ₹17.48 crore. Finance costs fell ₹1.14 crore to ₹6.27 crore. Total expenses increased 1.8% to ₹163.35 crore, lower than the 5.5% rise in total income.

There was no exceptional item in Q2 FY27 or Q2 FY26. Tax was ₹0.54 crore in Q2 FY27, compared with ₹1.32 crore in Q2 FY26. The filings do not state reasons for the changes in employee cost, other expenses, depreciation or other income. Against Q1 FY27, other expenses fell ₹2.89 crore to ₹70.27 crore, finance costs fell ₹0.25 crore to ₹6.27 crore, employee cost rose ₹0.42 crore and tax fell ₹1.95 crore.

How did the first half of FY27 go?

For H1 FY27, Snowman Logistics reported revenue of ₹341.24 crore, up 7.2% from ₹318.35 crore in H1 FY26. Total income rose 7.4% to ₹343.23 crore from ₹319.66 crore, while profit before tax turned positive at ₹8.54 crore from a net loss of ₹0.28 crore. Profit after tax was ₹5.5 crore against a net loss of ₹0.37 crore, and EPS was ₹0.33 compared with -0.02.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹755.45 crore, lower than ₹779.16 crore at 31 March 2026. Total equity rose to ₹408.02 crore from ₹402.11 crore, while borrowings fell to ₹85.35 crore from ₹93.36 crore. Cash and cash equivalents were ₹1.44 crore, against ₹0.00 crore at the previous balance sheet date. Inventories rose to ₹15.91 crore from ₹13.21 crore, and trade payables increased to ₹53.78 crore from ₹44.21 crore.

For H1 FY27, net cash from operating activities was ₹44.25 crore, compared with ₹44.49 crore in H1 FY26. Investing cash flow was negative ₹4.54 crore against negative ₹21.38 crore, while financing cash flow was negative ₹50.72 crore against negative ₹24.43 crore. Capital expenditure was ₹1.75 crore in H1 FY27, compared with ₹21.39 crore in H1 FY26.

How has Snowman Logistics done over the last 8 quarters?

Revenue reached its highest level in Q1 FY27 at ₹177.68 crore before falling to ₹163.56 crore in Q2 FY27. The lowest revenue in the eight-quarter series was ₹131.85 crore in Q3 FY25. Revenue has risen year on year in each of the last eight quarters, according to the reported trend data.

Profit after tax peaked at ₹5.54 crore in Q4 FY26 and bottomed at a net loss of ₹2.91 crore in Q2 FY26. It fell to ₹0.96 crore in Q2 FY27 from ₹4.55 crore in Q1 FY27. EBITDA margin was highest at 17.6% in Q4 FY25 and lowest at 12.8% in Q2 FY26, before easing to 14.6% in the latest quarter.

Which businesses drove the quarter?

Warehousing reported revenue of ₹65.65 crore, EBIT of ₹4.97 crore and an EBIT margin of 7.6% in Q2 FY27. Transportation reported revenue of ₹33.72 crore, EBIT of ₹1.72 crore and an EBIT margin of 5.1%. The company’s same-day presentation stated that warehousing revenue grew 7.6% and transportation revenue grew 5.6% year on year.

Trading and Distribution reported revenue of ₹64.18 crore, up 2.4% from ₹62.68 crore in Q2 FY26. EBIT was ₹4.01 crore, compared with ₹3.75 crore in the year-ago quarter, while the reported EBIT margin was 6.2%. The filing did not provide year-on-year revenue or EBIT figures for Warehousing and Transportation.

What else did the company announce?

The board approved the unaudited standalone financial results for the quarter ended 30 September 2026 and the limited review report submitted by S.R. Batliboi & Co. LLP. It appointed Arun Goyal as an Additional Director designated as Non-Executive Independent Director for five years from 28 October 2026, subject to shareholder approval through a postal ballot.

Anil Aggarwal ceased to be a Non-Executive Independent Director with effect from the close of business hours on 28 October 2026, following completion of his second consecutive five-year term. The same-day filings did not announce a dividend or a fund raise.

What did Snowman Logistics' management say?

Management maintained Gateway’s minimum target of 100,000 TEUs of rail volume per quarter for Q3 FY27, describing it as the bare minimum. It also maintained double-digit volume growth guidance for FY28, supported by a full year of Ankleshwar EXIM operations. The company expects Snowman EBITDA to cross INR100 crore in FY27, although management said profit after tax remains affected by interest and depreciation from reinvestment.

Management said Jaipur ICD construction and operations could take up to 18 months after a favourable court order, while Indore ICD was targeted for operation by December 2027 with contribution following in about six months. It said new Gateway projects are screened for at least 15% IRR and seven-year payback, and that only 10,000-15,000 TEUs per month of JNPT road cargo was currently seen as DFC-shiftable.

How did Snowman Logistics shares react?

Snowman Logistics rose 3.6% within five minutes, 2.5% within 15 minutes and 3.5% within 30 minutes of the filing appearing in the market. By the reaction-day close, the stock was down 3.1% from the previous close. By the next day’s close it was down 3.7%, and by the fifth session it was down 2.4%, all measured from the pre-results close.

The Logistics Solution Provider industry median was up 0.9% on the reaction day, up 0.8% by the next day and up 3.5% by the fifth session. Snowman Logistics therefore underperformed the industry median by 4.0 percentage points on the reaction day, 4.4 percentage points by the next day and 5.8 percentage points by the fifth session. Earlier reaction-day moves were positive on 5 August 2026, 6 May 2026 and 6 February 2026, and negative on the five earlier dates listed.

How did other Logistics Solution Provider companies do?

Fifteen other Logistics Solution Provider companies had filed results for the quarter by 4 November 2026, with a median revenue growth of 15.2%. Four peers grew more slowly than Snowman Logistics, while 11 grew faster than the company. Ten of the 13 peers for which profit was compared reported higher profit.