Snowman Logistic Q2 FY27 Results (NSE: SNOWMAN)
Signal: Loss reversed
The read
The operating inflection is that PAT turned positive at ₹95.76 lakh from a ₹291.10 lakh loss YoY without a current-quarter exceptional gain, helped by finance costs falling 63.7% YoY to ₹268.67 lakh; however, revenue growth was only 5.1% and decelerated to a 7.9% QoQ decline, while PPE and CWIP fell as depreciation remained broadly flat.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹163.56 Cr | +5.1% | -7.9% |
| Net profit | ₹0.96 Cr | N/A | |
| EPS | ₹0.06 | N/A |
P&L walk
Revenue grew 5.1% YoY but fell 7.9% QoQ; the reported PAT of ₹95.76 lakh versus a ₹291.10 lakh loss was supported by lower finance costs and a lower loss base, with no exceptional income in the current quarter.
Key positives
- PAT turned positive at ₹95.76 lakh from a ₹291.10 lakh loss YoY, while the current quarter reported no exceptional income.
- Finance costs declined 63.7% YoY to ₹268.67 lakh and 59.5% QoQ, providing the clearest support to the return to reported profitability.
- Gross margin after traded-goods cost improved approximately 98bps YoY to 65.2% as traded-goods cost grew 2.2% versus revenue growth of 5.1%.
- H1FY27 operating cash flow remained positive at ₹4,424.87 lakh, broadly in line with ₹4,448.60 lakh in H1FY26.
Key concerns
- Revenue grew only 5.1% YoY to ₹16,355.50 lakh and declined 7.9% QoQ from ₹17,767.74 lakh, indicating sequential momentum loss.
- Operating expense increased 9.6% YoY to ₹5,502.54 lakh, faster than revenue growth, while employee cost rose 7.1% to ₹1,244.06 lakh.
- PAT declined 78.9% QoQ from ₹454.63 lakh to ₹95.76 lakh, showing that the prior-quarter profit level was not sustained.
- Trade receivables rose to ₹10,269.86 lakh from ₹8,428.31 lakh at March 31, 2026, while H1 cash flow from operations was flat YoY.
Research and educational content only. Not investment advice.