I am pleased to present the Annual Report to you for the fi nancial year ending 31stMarch 2018. During this year the company made a turnaround performance and reported profits in the last two quarters thereby setting the tone for the coming years.
In FY 2017-18 the Revenue of the Company was Rs. 194.28 crores as against Rs. 189.24crores in the previous year. EBITDA increased to Rs. 44.46 crores from Rs. 36.36 croreswhile PAT for the Company was Rs. -3.56 crores as against Rs.-4.93 crores during 2017-18.The capacities in warehousing increased to 106964 pallets and the fl eet capacity remainunchanged at 293 vehicles. The existing facilities are currently running at 88%utilization with 25% of the facilities being 100% utilized.
Globally healthy agricultural yields and demand for key commodities are likely toprovide buoyancy to the cold storage business in India. Pan-India integration of goods andservices markets through GST has started creating a hub and spoke model for logisticsplayers.
As per leading research reports investments in the cold chain sector remainsinadequate. Given the high demand-supply mismatch in this segment potential for furtherinvestments remain high. Owing to the rising need of the infrastructure to reduce wastagethe cold chain industry in India is forecast to grow at a CAGR of 13-15%. Snowman is wellpoised to exploit this growth potential and has already chalked expansion plans inSiliguri Coimbatore and Krishnapatnam. Further expansion is planned in line with thegrowth projected by key customers.
Note of Thanks
I wish to thank all our stakeholders shareholders investors bankerscustomers vendors and employees for their continued support.
Prem Kishan Dass Gupta