Snowman Logistics – provides temperature controlled logistics services. It offers blast freezing facilities at its temperature controlled warehouses.
Snowman made a loss of Rs. 8.32 crore against a profit of Rs. 2.86 crore during the same time last year. Revenue dropped from Rs. 55.80 crore to Rs. 47.39 crore.
Snowman has attributed this loss to make a one-time provision of Rs. 8.79 crore towards asset refurbishment on some old transport fleet, old warehouses, customer claims due to stocks losses and damages at some warehouses.
Snowman’s new facility in Cochin (Kerala) is expected to be commissioned by November 2016. Once commissioned it will have a Pallet capacity of 4,500 (4,000 Temp. Controlled+500 Ambient) and its new facility in Krishnapatnam (AP) is well on track to be commissioned by March 2017 with a Pallet capacity of 3,500 (3,000 Temp. Controlled+500 Ambient).