Snowman Logistics Limited has announced a significant change in its top financial leadership. The company's Board of Directors, in a meeting held on August 25, 2025, approved the appointment of Raghav Garg as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP), effective immediately. This appointment follows the resignation of Balakrishna N from the same position.

Resignation of Balakrishna N

Balakrishna N, the outgoing CFO and KMP, tendered his resignation due to personal reasons, specifically citing his desire to relocate back to his family in Bangalore. While his resignation as CFO and KMP takes immediate effect, Balakrishna will continue with the organization during his notice period until September 5, 2025. In his resignation letter, Balakrishna expressed gratitude for the trust and opportunity given to him during his tenure at Snowman Logistics.

Appointment of Raghav Garg

The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has appointed Raghav Garg as the new CFO and KMP. Garg brings a wealth of experience to his new role at Snowman Logistics.

Raghav Garg's Professional Background

Raghav Garg is a qualified Chartered Accountant and holds a B.Com (Honours) degree from Punjab University. With over 19 years of experience across various industries including textiles, packaging, FMCG, and recycling, Garg has developed expertise in several key areas:

• Finance Strategy
• Financial Planning and Analysis
• Audits and Budgetary Control
• Risk Management
• Treasury Operations
• Taxation
• ERP Systems

Prior to joining Snowman Logistics, Garg served as CFO at IDVB Recycling operations. His career also includes CFO positions at notable companies such as Pearl Global Industries, Trident Limited, and Umang Dairies Limited.

Terms of Appointment

Raghav Garg's appointment as CFO and KMP commenced from the opening of business hours on August 25, 2025. His term will continue until resignation, cessation, removal, or upon reaching the company's retirement age, as per Snowman Logistics' internal human resources policy.

The company has confirmed that Raghav Garg is not related to any Director or Key Managerial Personnel of Snowman Logistics Limited.

This leadership transition comes at a time when companies are increasingly focusing on strong financial management and strategic planning. Snowman Logistics, known for its cold chain logistics services, will likely benefit from Garg's diverse industry experience as it navigates the evolving business landscape.

The company has duly informed the National Stock Exchange of India Limited and BSE Limited of this change in key managerial personnel, in compliance with SEBI regulations. Further details of the transition have been made available on the company's investor relations website.

Snowman Logistics and its parent company Gateway Distriparks Limited (GDL) have reported robust performance in the first quarter, showcasing resilience and strategic growth initiatives across their logistics and cold chain operations.

Gateway Distriparks: Steady Performance Amid Challenges

Gateway Distriparks' rail business achieved an EBITDA of INR 9,100.00 per TEU, slightly down from previous quarters due to operational challenges. The company faced increased empty container movements and reduced double stacking, which stood at 39.00% during the quarter. Despite these headwinds, GDL maintained its market share across key regions, with 16.00-17.00% in NCR, 27.00% in Ludhiana, and 37.00% in Uttarakhand.

Samvid Gupta, Joint Managing Director of Gateway Distriparks, expressed optimism about future performance, stating, "We should probably get back to INR 9,500.00 per TEU quite fast. We're still targeting double-digit growth for the entire year."

The company's CFS (Container Freight Station) business showed improvement, with EBITDA reaching INR 1,500.00 per TEU. GDL is actively exploring expansion opportunities, including asset-light models and potential new Inland Container Depot (ICD) locations.

Snowman Logistics: Expanding Capacity and Services

Snowman Logistics, the cold chain arm of Gateway Distriparks, continues to strengthen its market position with strategic capacity additions and service expansions. The company is adding new facilities in Calcutta, Krishnapatnam, and Kundli, with plans to increase its pallet capacity to over 200,000 in the next three years.

Padamdeep Singh Handa, CEO of Snowman Logistics, highlighted the company's growth in the 5PL (Fifth Party Logistics) segment: "We have seen positive growth in our warehousing and distribution business, attributed to new customers added last quarter and solid growth from existing customers."

Snowman has successfully implemented price increases of 5.00-7.00% across segments, reflecting the strong demand for its services. The company is expanding its 5PL services with high-profile clients such as IKEA, Tim Hortons, and Kopi Kenangan on a pan-India basis.

Strategic Initiatives and Future Outlook

Both Gateway Distriparks and Snowman Logistics are focusing on strategic growth initiatives:

1. Domestic Expansion: GDL is exploring opportunities in the domestic segment, aiming to increase volumes by procuring new containers and expanding its fleet.

2. Asset-Light Models: The companies are considering asset-light approaches for expansion, potentially partnering with terminal operators while managing rail operations.

3. Sustainable Practices: GDL has implemented solar power solutions at 80.00-90.00% of its locations and is evaluating electric and LNG vehicles to reduce operational costs and environmental impact.

4. Capacity Expansion: Snowman Logistics plans to add 5-6 new facilities over the next three years, with a mix of owned and asset-light models.

5. Technology Integration: Continued investment in digital platforms and IoT-based monitoring to enhance operational efficiency.

While facing challenges such as land acquisition for new ICDs, both companies remain committed to their expansion plans. Gateway Distriparks has earmarked INR 300.00 crore for two new terminals, with an additional INR 30.00 crore annual capex for existing operations.

As India's logistics sector continues to evolve, Gateway Distriparks and Snowman Logistics are well-positioned to capitalize on growth opportunities in rail logistics, cold chain, and integrated supply chain solutions.