Today morning, Snowman Logistics announced that it has completed the construction of a temperature controlled warehouse at Siliguri.
This facility has become operational from the 6th of September 2021. The total capacity of the facility is 4032 Pallets. It is a multi-temperature facility designed to store products ranging from ambient temperature to -25 Deg Centigrade with 8 chambers, 5 loading bays with related infrastructure that includes G+5 racking system, modern handling equipment, etc., and ample refrigerated truck parking space.
The facility will mainly cater to the storage, handling and transportation of seafood, ready-to-eat food, ice cream, dairy products, quick service restaurants, confectionery & bakery products, fruits & vegetables, pharma, and other products.
A similar facility is under construction at Coimbatore and is expected to be ready and operational by end of October 2021.
The company has also built an e-commerce backend (fulfilment centre) for food and grocery in Mumbai. The facility is already operational. It is a 54,000 sqft warehouse with freezer, chiller, ambient storage with various value add facilities viz. sorting, grading, packing, labelling, etc.
Another e-commerce facility is under construction at Pune and is expected to be ready and operational by mid of September.
Snowman has also expanded in their existing locations: Mumbai (1944 pallets), Krishnapatnam (560 pallets). Expansions in Palwal are under construction adding 720 pallets.
With the addition of the above, Snowman will have a total of 1,20,000 pallet positions of shared warehouses and 1,10,000 sq. ft. of e-commerce fulfilment centres by Oct’21. With these expansions, Snowman would have operations in 17 cities and 38 warehouses.
The market has not reacted much to this news, with the stock continuing to hover in the Rs.44-range, going up to an intraday high at Rs.44.70 while 72k shares changed hands.