Snowman Logistics Ltd

Snowman Logistics Ltd. has received a rectification order from the Income Tax Department, reducing a previously issued demand notice. The original demand for Assessment Year 2024-25 was INR. 2,06,56,802/-. Following an application under Section 154, the revised demand stands at INR. 1,72,14,000/-, representing a reduction of INR. 34,42,802/-. The company has already filed an appeal against the penalty order and is optimistic about a favorable outcome. Snowman Logistics believes this rectification will have no significant impact on its financials, operations, or other activities.

Snowman Logistics Ltd announced its unaudited financial results for the quarter ended September 30, 2026. The company reported a revenue of INR 163.56 Crores, marking a 5.08% increase compared to INR 155.65 Crores in the same period last year. EBITDA saw a significant rise of 22.8%, reaching INR 25.25 Crores from INR 20.56 Crores in the corresponding quarter of the previous year. The Chairman highlighted the growing demand for cold chain infrastructure driven by rising food hygiene standards and product quality emphasis, stating the company is expanding its scale and investing in systems to meet this demand.

Snowman Logistics Limited announced that its Board of Directors, in a meeting held on October 28, 2026, approved the unaudited financial results for the quarter ended September 30, 2026, along with the Limited Review Report. The board also appointed Mr. Arun Goyal as a Non-Executive Independent Director for a term of five years, subject to shareholder approval. Concurrently, Mr. Anil Aggarwal ceased to be a Non-Executive Independent Director upon completion of his second five-year term. A postal ballot notice will be circulated to shareholders for their approval regarding the director appointments.

Snowman Logistics Limited's Board of Directors met on October 28, 2026, approving the unaudited financial results for the quarter ended September 30, 2026, along with the Limited Review Report from S.R. Batliboi & Co. LLP. The board also appointed Mr. Arun Goyal as a Non-Executive Independent Director for a five-year term, subject to shareholder approval. Concurrently, Mr. Anil Aggarwal will cease to be a Non-Executive Independent Director upon completing his second consecutive five-year term on the same date. A postal ballot notice will be circulated to shareholders for their approval of the new directorship.

Snowman Logistics Limited announced that its Board of Directors, in a meeting held on October 28, 2026, approved the unaudited standalone financial results for the quarter ended September 30, 2026, along with the Limited Review Report. The Board also appointed Mr. Arun Goyal as a Non-Executive Independent Director for a term of five years, subject to shareholder approval. Concurrently, Mr. Anil Aggarwal ceased to be a Non-Executive Independent Director upon completing his second consecutive term. A notice for postal ballot will be circulated to shareholders for their approval regarding the director appointments.

Snowman Logistics' standalone revenue came in at ₹163.56 Cr, up 5.1% YoY but down 7.9% QoQ, while PAT swung to a ₹0.96 Cr profit from a ₹2.91 Cr loss in Q2FY26 — though it fell 79% from ₹4.55 Cr in Q1FY27. No analyst estimates for this micro-cap's Q2FY27 print turned up in a search, so the result is best benchmarked against the company's own FY27 guidance of 10-15% revenue growth: H1FY27 revenue grew only 7.2% YoY, trailing that range even as profitability recovered. EBITDA of ₹25.25 Cr (+22.6% YoY) lifted OPM to ~15.4% from 13.2% a year ago, but the improvement was driven mainly by a 15.4% YoY drop in finance costs (₹6.27 Cr vs ₹7.41 Cr) rather than operating leverage — depreciation was flat YoY. Sequentially, OPM eased from ~16.7% in Q1FY27 and PAT fell 79% QoQ; Q1's number was flattered by a ₹1.62 Cr one-off exceptional income (reversal of a labour-code related provision), but even stripping that out, core pre-exceptional PBT fell from ₹5.41 Cr to ₹1.50 Cr quarter on quarter, so the QoQ slide is largely operational rather than just a base effect. All three segments grew YoY but at a similarly muted pace — warehousing +7.6% (₹65.65 Cr), transportation +5.6% (₹33.72 Cr), trading & distribution +2.4% (₹64.18 Cr) — none close to the double-digit guided range. Concurrent with the results, the company disclosed a ₹2.07 Cr penalty levied this quarter under Section 270A after the tax officer disallowed a ₹4.64 Cr Section 35AD deduction on the Mumbai and Hyderabad cold-storage units; an appeal and a rectification application (which could cut the penalty by ₹0.34 Cr) are pending, and no P&L provision has been taken as management expects a favourable outcome. Separately, ₹7.62 Cr of GST demands remain under litigation across states, against which ₹1.50 Cr is already provided as a precaution. No separate management press release accompanied this filing, so there is no company commentary to reconcile against the print. The Board also appointed Arun Goyal as a new independent director as Anil Aggarwal completes his second term — a governance refresh alongside, but unrelated to, the financial result. With H1FY27 revenue growth at 7.2% against a 10-15% full-year guide, the company needs a stronger H2 — including the guided Pune and Patna facility launches — to reach even the lower end of its own target, while next quarter's margin will show whether the YoY OPM gain holds without the help of lower finance costs or one-off items.

Snowman Logistics Ltd has announced that its Board of Directors will convene on Wednesday, October 28, 2026. The primary agenda item is to consider and approve the Unaudited Financial Results for the quarter ended September 30, 2026. Additionally, the company confirmed that the trading window for its designated persons and connected individuals will remain closed from October 1, 2026, until 48 hours after the financial results are declared, extending this closure until Friday, October 30, 2026.

Snowman Logistics Limited has received a demand notice from the Income Tax Department for Assessment Year 2024-25. The notice, dated September 30, 2026, and received on October 2, 2026, pertains to a penalty under Section 270A(13) of the Income Tax Act, 1961, for under-reported income. The total demand amounts to ₹2,06,56,802. The company believes the penalty orders are not sustainable and is taking steps to appeal the decision. Snowman Logistics is hopeful for a favorable outcome and expects no impact on its financials, operations, or other activities.

Snowman Logistics Ltd has announced the closure of its trading window for designated persons, connected persons, and their immediate relatives. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's internal code of conduct. The trading window will remain shut from Thursday, October 01, 2026, until 48 hours after the declaration of the company's unaudited financial results for the quarter ended September 30, 2026. The specific date for the board meeting to approve these results will be communicated later.

Snowman Logistics Ltd has issued a clarification regarding the dispatch of letters containing the weblink for their Annual Report for FY 2025-26. The company stated that the date on the enclosed letter was inadvertently mentioned as '02-September-2026' instead of the actual dispatch date of '03-September-2026'. This was a typographical error, and the substance of the communication remains unchanged. The corrected letter has been enclosed. The 33rd Annual General Meeting is scheduled for September 25, 2026, and the Annual Report is accessible via a provided weblink for shareholders whose email addresses are not registered.