Snowman Logistics Ltd Share Price

History of Snowman Logistics Ltd

Snowman Logistics Limited is a part of the Gateway Distriparks group. Gateway Distriparks Limited (GDL) was incorporated in 1994, and is promoted by Mr. Prem Kishan Dass Gupta and his family personally, and through their wholly owned companies, Prism International Private Limited and Perfect Communications Private Limited. GDL is in the business of providing inter-modal logistics with three synergetic verticals- Inland Container Depots (ICD) with rail movement of containers to major maritime ports, Container Freight Stations (CFS) and Temperature Controlled Logistics. GDL is the largest private container train operator of India and provides inter-modal rail transportation service for EXIM containers between its rail-linked ICDs at Gurgaon, Ludhiana, Faridabad, Kashipur, Viramgam and mar ...itime ports at Nhava Sheva, Mundra and Pipavav. GDL has been a pioneer in providing dedicated weekly train services for imports and exports carried by all major shipping lines and major customers. These dedicated services are matched with vessel cut-offs in the case of exports, and vessel arrival for imports. The Company operates CFSs at Navi Mumbai, Chennai, Visakhapatanam, Krishnapatnam and through a subsidiary at Kochi. GDL operates a fleet of 34 rakes and 525+ road trailers and has an overall annual handling capacity of over 7,10,000 TEUs at ICDs and 5,36,000 TEUs at CFSs. The Company was originally promoted by Amalgam Foods Limited. In 1997, Hindustan Unilever Limited (then, Brooke Bond (India) Limited) acquired 23% of the company's equity share capital. In 2001, the Mitsubishi Group acquired a majority stake of the company. Subsequently, in 2003, Nichirei Corporation acquired 15% of the company's equity share capital which was thereafter assigned to Nichirei Logistics Group Inc. in 2005. In 2006, Promoter of the company acquired the majority stake of the company by acquiring 6,861,000 shares held by Amalgam Foods Limited and by subscribing to fresh shares issued by the company. Consequently, Promoter of the company held 33.34% of the company's equity share capital. In 2010, IFC acquired 20,570,000 equity shares of the Company. Subsequently, on March 17, 2011, the name of the company was changed to Snowman Logistics Limited pursuant to a new certificate of incorporation. The change in name was to better capture the nature of the business of the company. In 2013, NVP acquired 17,142,857 shares of the Company. On August 2, 2014, Promoter of the company acquired 5,142,500 of the shares held by IFC and on March 11, 2014, promoter acquired 7,400,000 shares from Nichirei. The total promoter shareholding in the company stood at 40.25% as on 30 September 2018. Snowman commenced its business as a trader of frozen marine products and in Fiscal 1998, the company commenced cold storage operations at 4 (four) locations. It has, since then, expanded its operations to become an integrated temperature controlled logistics service provider with an ability to service customers on a pan-India basis. Snowman's warehousing solutions cover the complete spectrum of temperature ranges from ambient to chilled and frozen. The company offers blast freezing facilities at its temperature controlled warehouses in Bengaluru, Mevalurkuppam, (near Chennai), Visakhapatnam, Serampore (near Kolkata), Taloja (near Mumbai), Ahmedabad, Palwal (near Delhi), Mubarakpur (near Chandigarh) and Surat. The company's integrated Source to Stores' operations comprise warehousing, primary distribution and secondary distribution and value-added services including kitting, labelling, sorting and bulk breaking. In August 2014, the Company came up with an IPO by issuing 42,000,000 Equity Shares. In 2015, warehousing capacities were added at Mumbai, Chennai, Bhubaneswar, Pune, Surat and Visakhapatnam, taking the total installed capacity from 61,700 pallets at the start of the year to 85,500 pallets. In transportation division, the fleet size increased from 370 to 501 trucks during the year 2015. In 2016, warehousing capacities were added at Mumbai, Bangalore and Jaipur taking the total installed capacity from 85,500 pallets at the start of the year to 98,500 pallets. An additional capacity of 5,100 pallets was added at Kochi during the year 2017, taking the total installed capacity to 103,600 pallets. The Company crossed 1 lakh pallet capacity with the commencement of operations at the Cochin Warehouse in 2017. The Company added 10,518 additional pallets in FY 2022. In addition, it ventured into dry warehousing for providing a comprehensive solution to store both temperature controlled and dry goods. The Company launched 5PL (Fifth-Party Logistics) services in India in 2023. In FY25, Company expanded the infrastructure with the inauguration of a new warehouse in Pune, dedicated to Coca Cola operations and an advanced multi temperature-controlled facility in Guwahati, Assam. This first fully leased cold storage unit, has a capacity of 5,152 pallets, bringing the total pallet capacity to 1,41,405. It has deployed 20 new 40-feet trailers and 50 new reefer vehicles in enhancing the transportation efficiency.