What pricing benefit have you achieved in warehousing this quarter and plans for further hikes?

In a range between 5% to 7% on an average is what we have got from most of the customers. There are constant revisions because some customers were onboarded in January, some in June, so as renewals come, pricing negotiation will happen and we will continue at the similar price pattern as steep labor hikes also get corrected.

What is the contribution from 5PL in the quarter and its profitability?

5PL has seen a hike of around 6% year-on-year on the distribution part. It also contributes to warehousing and transportation. Typically, the service margin remains between 5% to 6%, but it helps gain more volumes and blended margin stays for those particular units.

What capex and pallet additions are planned for Snowman this year and next?

This year Pune will be up in another couple of months, and post that Patna is going to come up. So this year we'll see around 24,000 additional pallets by end of this year, and subsequently similar numbers are planned for subsequent years.

What is the forward-looking guidance for Snowman?

We're looking at growth of, say, 10% to 15% on top line and it will be across all the segments.

Did you add any new 5PL customers in the quarter?

Not in quarter 1, but discussions are still on. We may see some new names coming up by quarter 3 or quarter 4.

Snowman Logistic Q1 FY27 Earnings Call — Analysis (NSE: SNOWMAN)

Snowman Logistics guides for 10-15% topline growth in FY27, plans 24,000 pallet capacity addition amid input cost pressures

12 Aug 2026 · Analysis by Alpha Inflection

Result quality: strong — Margin expansion. Management sentiment: optimistic.

The take

New guidance — FY27 snowman logistics overall reven… 10% to 15% . New story: Accelerated capacity addition of 24,000 pallets .

Guidance

Management guided 10-15% FY27 topline growth across all segments, with 24,000 pallets to be added by year-end and new 5PL customers expected in H2.

What management committed to

Snowman Logistics is looking at top-line growth of 10% to 15% in FY27 across all segments. — 10% to 15%, FY27
[Snowman Logistics] will add around 24,000 additional pallets by end of this fiscal year (FY27). — 24,000, FY27
[Snowman Logistics] plans annual pallet additions of similar numbers (24,000) in subsequent years. — similar numbers [24,000 pallets/year], subsequent years
[Snowman Logistics] may see new [5PL] customer names coming up by Q3 or Q4 FY27. — Q4FY27
Pune warehouse will be operational in another couple of months [by Q2FY27]. — Q2FY27
Patna warehouse will come up after Pune [during FY27]. — FY27

Key themes

Warehousing capacity expansion and pricing power

How the narrative shifted

Warehousing price hikes offsetting input inflation: Management emphasizes 5-7% pricing increases to pass through steep labor and fuel costs, with ongoing contract renewals enabling further adjustments.
Accelerated capacity addition of 24,000 pallets: New warehouses in Pune and Patna to add 24,000 pallets in FY27, with similar annual additions planned, directly driving revenue growth.
5PL as integrated volume driver: The 5PL segment grew 6% YoY and helps capture additional warehousing/transportation volumes; new customer wins expected in H2FY27.
Unorganized-to-organized warehousing tailwind: Regulatory enforcement (e.g., new FSSAI Commissioner in Mumbai) is accelerating customer migration toward organized cold-chain players like Snowman.
10-15% topline growth confidence: Management firmly guided 10-15% FY27 revenue growth across segments, signaling confidence in pricing power, capacity ramp-up, and demand resilience.

Operational commentary

Warehousing pricing hikes of 5-7% realized in Q1; further revisions expected as contracts renew to offset steep labor and fuel cost increases.
5PL segment grew ~6% YoY in the quarter, contributing to both warehousing and transportation volumes; no new 5PL customers added in Q1, but discussions ongoing with additions possible by Q3/Q4.
Pune warehouse to be operational in a couple of months, Patna to follow; FY27 pallet capacity addition targeted at 24,000 pallets, with similar annual additions planned for subsequent years.
Regulatory changes (new FSSAI Commissioner in Mumbai) accelerating the shift from unorganized to organized warehousing, potentially benefiting Snowman's customer acquisition.
Competitive intensity remains manageable; organized-warehousing transition continues, and Snowman is monitoring customer requirements to capture space demand.

Analyst Q&A

Q. What pricing benefit have you achieved in warehousing this quarter and plans for further hikes?
In a range between 5% to 7% on an average is what we have got from most of the customers. There are constant revisions because some customers were onboarded in January, some in June, so as renewals come, pricing negotiation will happen and we will continue at the similar price pattern as steep labor hikes also get corrected.
Q. What is the contribution from 5PL in the quarter and its profitability?
5PL has seen a hike of around 6% year-on-year on the distribution part. It also contributes to warehousing and transportation. Typically, the service margin remains between 5% to 6%, but it helps gain more volumes and blended margin stays for those particular units.
Q. What capex and pallet additions are planned for Snowman this year and next?
This year Pune will be up in another couple of months, and post that Patna is going to come up. So this year we'll see around 24,000 additional pallets by end of this year, and subsequently similar numbers are planned for subsequent years.
Q. What is the forward-looking guidance for Snowman?
We're looking at growth of, say, 10% to 15% on top line and it will be across all the segments.
Q. Did you add any new 5PL customers in the quarter?
Not in quarter 1, but discussions are still on. We may see some new names coming up by quarter 3 or quarter 4.

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