Snowman Logistics Limited Approves Q1 Unaudited Financial Results; Reports Variances in Operating Segments
Snowman Logistics Limited has approved its unaudited standalone financial results and the Limited Review Report for the quarter ended June 30, 2026. The Board of Directors reviewed and accepted these results, which were prepared pursuant to Indian Accounting Standard 34 (Ind AS 34) 'Interim Financial Reporting'.The independent auditor's review report noted that nothing came to their attention suggesting the statement contained any material misstatement or failed to disclose required information.
Quarterly Financial Performance Overview
The company’s unaudited results for the quarter ended June 30, 2026, reflect operational movements across various periods. Total income reached 17,837.59 INR lakhs in the current quarter (Q1 FY26).Key financial details are presented below:
| Particulars | Quarter Ended June 30, 2026 (Unaudited) | Quarter ended March 31, 2026 (Audited) | Quarter ended June 30, 2025 (Unaudited) | Year ended March 31, 2026 (Audited) |
|---|---|---|---|---|
| Income | ||||
| Revenue from operations / Other income | 17,767.74 | 14,231.13 | 16,269.64 | 60,438.11 |
| Total Income | 17,837.59 | 14,335.01 | 16,343.96 | 60,802.60 |
| Expenses | ||||
| Purchase of traded goods | 6,807.35 | - | - | - |
| Increase/decrease in inventories / Operating expense | (417.58) | 196.71 | (107.99) | 183.72 |
| Employee benefit expense | 5,800.78 | 5,053.84 | 4,946.34 | 19,853.68 |
| Finance costs | 1,201.67 | 1,117.89 | 1,061.15 | 4,494.91 |
| Depreciation and amortisation expense | 651.60 | 664.60 | 563.10 | 2,675.41 |
| Other expenses | 1,737.83 | 1,727.65 | 1,551.03 | 6,759.35 |
| Total Expenses | 17,296.37 | 14,245.69 | 15,949.37 | 60,784.46 |
| Profit before exceptional items and tax | (162.27) | 703.49 | 394.59 | 18.14 |
| Exceptional items expense / income | 541.22 | 89.32 | 394.59 | 18.14 |
| Profit/(loss) before tax | 703.49 | (2.57) | 274.19 | (256.05) |
Segment and Operational Highlights
Snowman Logistics Limited reports three operational segments: warehousing services, transportation services, and trading and distribution.Performance across the various periods shows the following segment results:
| Segments | June 30, 2026 (Unaudited) | Quarter ended March 31, 2026 (Audited) | June 30, 2025 (Unaudited) | March 31, 2026 (Audited) |
|---|---|---|---|---|
| Revenue from operations | 7,087.73 (Transportation services) 3,570.98 (Trading and distribution) | 6,535.06 (Transportation services) 3,002.22 (Trading and distribution) | 6,692.27 (transportation services) 3,285.45 (trading and distribution) | 22,501.94 |
| Segment Result | 17,767.74 | 14,231.13 | 16,269.64 | 60,438.11 |
Key Notes and Provisions
The management provided several detailed notes regarding ongoing legal and financial matters:- Land Dispute: The company has spent a total of 4,398.33 lakhs on the project in Krishnapatnam. Regarding the land dispute with Gateway Distriparks Limited (GDL), GDL has confirmed possession of all relevant ownership documents and filed an appeal against the rejection by the Collector, as external legal opinion suggests a strong case on merits. GDL has also agreed to indemnify Snowman Logistics from any losses arising from these transactions in the event of an adverse decision.
- GST Demands: As of June 30, 2026, there are demands under Section 73 of the Goods and Services Tax Act, 2017 totaling INR 537.60 lakhs, which are currently under litigation. The company made a pre deposit of INR 53.82 lakhs against these demands. Furthermore, the company has other GST show cause notices amounting to INR 1,366.35 lakhs pending. Management believes these demands and notices, aggregating to INR 1,903.95 lakhs, are not tenable but provided a provision of INR 120.29 lakhs in the unaudited financial results as an abundance of caution.
- Tax Assessment: An assessment order received on January 30, 2026, disallowed deduction of INR 463.83 lakhs under Section 35AD of the Income-tax Act, 1961, concerning cold storage units in Mumbai and Hyderabad. The company has responded to penalty proceedings initiated under Section 270A, which are pending disposal.
- Labour Codes Impact: For the financial year ended March 31, 2026, a loss of INR 274.19 lakhs was disclosed under 'Exceptional items' related to the incremental impact of four Labour Codes notified by the Government of India. In the current quarter, the company accounted for a reversal of INR 162.27 lakhs in these unaudited financial results due to changes implemented based on expert consultation and compensation structure adjustments effective April 01, 2026.
SNOWMAN Stock Price Movement
Today, Snowman Logistics Limited saw its stock rally as it gained 4.77%, closing at ₹41.31 after post-market trading concluded. The equity traded efficiently with a volume of 2.81 million shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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