Logistics penny stock under Rs 65: Company expands network with 2 new temperature-controlled owned warehouses
The stock is up by 44 per cent from its 52-week low of Rs 42.97 per share.
Today, the shares of Snowman Logistics Ltd gained 3.65 per cent to an intraday high of Rs 61.85 per share from its previous closing of Rs 59.67 per share. The stock’s 52-week high is Rs 91.55 per share and its 52-week low is Rs 42.97 per share.
Snowman Logistics Limited, India’s leading provider of integrated temperature-controlled logistics services, is pleased to announce the completion of construction of and commencement of operations of its 2 owned new state-of-the-art temperature-controlled warehouses in Kolkata and Krishnapatnam. The Kolkata facility has a capacity of 5,630 pallets and the Krishnapatnam facility has a capacity of 3,927 pallets, bringing the total capacity of the company to 1,50,754 pallets, spread across 43 warehouses in 20 cities. In addition, the Company operates 296 owned and 325+ leased refrigerated vehicles pan India.
These new facilities are equipped with cutting-edge technology incorporating automation to increase operational efficiency and will cater to a wide range of industries, including seafood, ice cream, dairy products, ready-to-eat meals, quick service restaurant (QSR) items, confectionery, bakery products, fruits and vegetables and pharmaceuticals.
Commenting on this milestone, Mr. Prem Kishan Dass Gupta, Chairman, Snowman Logistics Limited, stated, “The completion of our Kolkata and Krishnapatnam facilities marks another significant step in our mission to provide best-in-class cold chain solutions. We are very confident that the requirement for cold chain will grow exponentially in the country and we will continue to expand our network.”
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About the Company
Snowman Logistics is the market leader in integrated temperature-controlled logistics services, catering to the varied cold chain logistical requirements of its clients on a pan-India basis. With 43 strategically located warehouses, having a total pallet capacity of 1,50,754 across 20 cities, including the key markets of Mumbai, Chennai, Bengaluru & Kolkata etc. Snowman caters to its comprehensive network of reputed clients, which source and consume temperature-sensitive products in bulk amounts. Snowman caters to various services like dairy products, including butter and cheese, canned food items, poultry and meat, seafood, healthcare and pharmaceutical products.
The company has a market cap of over Rs 1,000 crore and has delivered good profit growth of 54 per cent CAGR over the last 5 years. The stock is up by 44 per cent from its 52-week low of Rs 42.97 per share.
Disclaimer: The article is for informational purposes only and not investment advice.