The stock is up by 94.35% in last one year as compared to a 53.13% surge in S&P Bse Sensex in the same period.
The reason behind the spike in the stock was after the company announced a strategic partnership with Dr Reddy’s.
In a strategic alliance with Hyderabad based Dr. Reddys Laboratories Ltd., Snowman Logistics will provide temperature-controlled end-to-end logistics solutions for the delivery of the two-dose Sputnik COVID-19 vaccine across India.
According to the regulatory filing, Snowman will manage the delivery through five of its high-capacity temperature-controlled warehouses in Mumbai, Delhi-NCR, Kolkata, Chennai, and Bengaluru.
From these locations, the company will provide storage, order processing, shipper packing, and secondary transportation. The locations are strategically placed to meet not only the needs of the state, but also the needs of the entire region. Throughout the event, the temperature will be kept between -20 and -25 degrees Celsius.
With this, Snowman Logistics will become the largest 3PL service provider for vaccines in the country offering national reach to Dr. Reddy’s Laboratories Ltd.
“Vaccine delivery is the need of the hour,” said Mr. Sunil Nair, CEO of Snowman Logistics Limited. With this alliance with Dr. Reddy’s, the management aims to reach as many institutions as possible that administer vaccines through their five high-capacity temperature-controlled warehouses. The management is hopeful of carrying a seamless drive from these warehouses through their fleet of refrigerated vehicles maintaining the requisite temperatures throughout the delivery cycle. The company will also deliver Sputnik vaccine to the neighboring states and cities from these strategic locations.”
Snowman Logistics has the capacity to store 650 million doses at any given time, which can be quickly increased to 1.05 billion doses for Pan-India distribution. The company can store vaccines at temperatures as low as -80 degrees Celsius and provides real-time temperature monitoring to ensure proper conditions for vaccine distribution throughout the supply chain.
Snowman Logistics is the market leader in integrated temperature-controlled logistics services, catering to its clients’ diverse cold chain logistical needs across India. Snowman caters to its extensive network of reputed clients, which source and consume temperature sensitive products in bulk amounts, through 35 strategically located temperature-controlled warehouses with a total pallet capacity of 1, 13,208 across 16 cities, including the key markets of Mumbai, Chennai, Bengaluru, and Kolkata. Snowman provides a variety of services such as dairy products such as butter and cheese, canned foods, poultry and meat, seafood, healthcare and pharmaceutical products.
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