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Snowman Logistics

BSE: 538635|NSE: SNOWMAN|ISIN: INE734N01019|SECTOR: Transport & Logistics
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Chairman's Speech (Snowman Logistics) Year : Mar '18

Dear Shareholders,

I am pleased to present the Annual Report to you, for the financial year ending 31st March 2018. During this year, the company made a turnaround performance and reported profits in the last two quarters thereby setting the tone for the coming years.

In FY 2017-18, the Revenue of the Company was Rs. 194.28 crores as against Rs. 189.24 crores in the previous year. EBITDA increased to Rs. 44.46 crores from Rs. 36.36 crores while PAT for the Company was Rs. -3.56 crores as against Rs.-4.93 crores during 2017-18. The capacities in warehousing increased to 106964 pallets and the fleet capacity remain unchanged at 293 vehicles. The existing facilities are currently running at 88% utilization with 25% of the facilities being 100% utilized.

Globally, healthy agricultural yields and demand for key commodities are likely to provide buoyancy to the cold storage business in India. Pan-India integration of goods and services markets through GST has started creating a hub and spoke model for logistics players.

As per leading research reports, investments in the cold chain sector remains inadequate. Given the high demand-supply mismatch in this segment, potential for further investments remain high. Owing to the rising need of the infrastructure to reduce wastage, the cold chain industry in India is forecast to grow at a CAGR of 13-15%. Snowman is well poised to exploit this growth potential and has already chalked expansion plans in Siliguri, Coimbatore and Krishnapatnam. Further expansion is planned in line with the growth projected by key customers.

Note of Thanks

I wish to thank all our stakeholders - shareholders, investors, bankers, customers, vendors and employees for their continued support.

Regards,

Prem Kishan Dass Gupta

Chairman

Source : Dion Global Solutions Limited
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