1. At a Glance
Snowman Logistics (India’s largest cold chain network) posted Q1 FY26 revenue of ₹163 Cr (+16% YoY) but profit melted to a mere ₹2.5 Cr. Margins are thin (OPM 15%) and P/E is an absurd 141. Stock at ₹54 is priced like ice cream in Antarctica – overpriced for what it delivers.
2. Introduction
Imagine running the biggest freezer network in a tropical country and still sweating for profits. Snowman is literally in the “cool” business but its returns are anything but chill. Revenue is growing, but profits… not so much.
3. Business Model (WTF Do They Even Do?)
Snowman provides temperature-controlled logistics:
- Cold Storage & Warehouses – 44 facilities across 21 cities.
- Transport – refrigerated trucks to move frozen/chilled goods.
- Clients – FMCG, pharmaceuticals, QSR chains.
They keep your ice cream frozen while their EPS melts.
4. Financials Overview
