Snowman Logistics Ltd Q2FY21 loss at Rs. 1.72 crore

Snowman Logistics Ltd has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.58.08 crores during the period ended September 30, 2020 as compared to Rs.56.38 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.(1.72) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.0.77 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.(0.10) for the period ended September 30, 2020 as compared to Rs.0.05 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 58.08 crs	₹ 56.38 crs	3.02%
Net Profit	₹ (1.72) crs	₹ 0.77 crs	-323.38%
EPS	₹ (0.10)	₹ 0.05	-300%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.58.08 crores during the period ended September 30, 2020 as compared to Rs.59.42 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(1.72) crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.(1.40) crores for the period ended September 30, 2019.

The company has reported EPS of Rs.(0.10) for the period ended September 30, 2020 as compared to Rs.(0.08) for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 58.08 crs	₹ 59.42 crs	-2.26%
Net Profit	₹ (1.72) crs	₹ (1.40) crs	22.86%
EPS	₹ (0.10)	₹ (0.08)	25%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.114.46 crores during the 6 months period ended September 30, 2020 as compared to Rs.122.34 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.(0.94) crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.(10.39) crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.(0.06) for the 6 months period ended September 30, 2020 as compared to Rs.(0.62) for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 114.46 crs	₹ 122.34 crs	-6.44%
Net Profit	₹ (0.94) crs	₹ (10.39) crs	-90.95%
EPS	₹ (0.06)	₹(0.62)	-90.32%

Speaking about the quarter performance, Mr. Sunil Nair, CEO, Snowman Logistics Ltd said, "In spite of the business impact faced by our major set of customers, we have done fairly well and have been able to maintain a high warehouse occupancy rate during this year. This was possible due to the new business pipeline that we had maintained across various segments. Now we are seeing our customers' businesses resuming to pre-lockdown levels. This should help us do better in the coming quarters as our existing business grows and the new volumes are retained. Further, we have almost finished the construction of dedicated facility for Amazon in Kundli (near Delhi), and it should be functional from 15th of November. Our new facility at Siliguri is under construction along with expansion planned at Coimbatore, Krishnapatanam and Mumbai. We are on track with respect to all these projects to be ready for operations in Q4 of this year. The total capital outlay for these projects which will add around 12,000 pallets will be around Rs. 75 crores."

Commenting on the expansion plans, Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Ltd said, "In addition to the new projects underway, the Company has also started a new vertical for catering to e-commerce logistics in the food and pharmaceutical segments. On the pharma front, Snowman is well positioned to handle any requirement pertaining to COVID-19 vaccination logistics as we have the largest private cold chain warehouse network in India. Snowman already has all necessary infrastructure and certifications required as it provides services to leading pharmaceutical companies at various locations. With our growing network and new business lines, we are confident that Snowman will continue to remain the leader of its industry."

Shares of Snowman Logistics Ltd was last trading in BSE at Rs.39.9 as compared to the previous close of Rs. 39. The total number of shares traded during the day was 239243 in over 2419 trades.

The stock hit an intraday high of Rs. 42.5 and intraday low of 39.3. The net turnover during the day was Rs. 9658753.

Source : Equity Bulls

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