Snowman Logistics Posts Q2 Profit Amid Legal and Governance Updates

Profit at Rs 0.96 crore against year-ago loss; Revenue records Rs 163.56 crore for September quarter.

Reader Takeaway: Turnaround to profit offsets revenue dip, but investors must weigh legal headwinds in tax and land disputes.

What just happened

Snowman Logistics has declared its financial results for the quarter ended September 30, 2026. The company reported a net profit of Rs 0.96 crore, a recovery from the loss of Rs 2.91 crore recorded in the same period last year. Revenue from operations stood at Rs 163.56 crore, up from Rs 155.65 crore in Q2 FY2026, though lower than the Rs 177.68 crore reported in Q1 FY2027. The board also approved the appointment of Mr. Arun Goyal as an Independent Director, succeeding Mr. Anil Aggarwal.

Why this matters

Financial results show the company is stabilizing its operational profitability. However, the company faces multiple legal hurdles. A critical land dispute in Krishnapatnam involves Rs 43.98 crore in project spending, where registration was rejected by the Collector. Furthermore, the company is dealing with GST litigation amounting to Rs 2.22 crore and a significant income tax penalty of Rs 2.07 crore for assessment year 2024-25, which the company is currently contesting.

Risks to watch

Investors should closely track the progress of the Krishnapatnam land registration dispute. While the counterparty, Gateway Distriparks, has provided an indemnity, any adverse outcome regarding the Rs 43.98 crore project investment could impact the company's balance sheet. The ongoing tax assessment challenges and potential GST liabilities also remain points of concern for long-term cash flow predictability.

What to track next

The outcome of the pending appeals in the income tax and GST matters will be crucial. Shareholders should also watch for updates on the land parcel registration status, as this affects the long-term asset visibility for the company's warehouse operations.