🚦'Cold Storage & Cold Chain Logistics in India' and 'Snowman'🚦
Detail Thread 👇

(Information shared here is not a recommendation to buy)
1] What is Cold Storage: Cold Storage is a large refrigerated room or building designed for storage of goods in an environment below the outdoor temperature.

This facility is typically used to stock the following:
Food & Groceries
Health Care
Food & Groceries: Vegetables |Fruits | Dairy Products | Meat |Seafood
Health Care: Drugs | Pharmaceuticals |Vaccines |Blood
Others: Flowers |Wine | Tobacco |Chemicals

Temp Ranges:
Frozen -20 & below
Chill 0 to 10
Mildly Chilled 10 to 20 &
Normal > 20
3] What is Cold Chain Logistics:
Cold chain logistics is the transport of temperature-controlled goods, such as temperature-sensitive foods, beverages, bio-pharmaceutical products & vaccine

The cold chain sector is a combination of surface storage and refrigerated transport
4] y Cold Storage, Cold Chain & its Significance:

a. CS facilities play a vital role in improving the shelf life.
b. Post COVID, this segment attracted a robust demand for online grocery & fresh food sales.
5] Significance:
Food & Groceries: *The annual post-harvest loss of major
agricultural produce is worth about $ 13B
*The loss is highest for fruits & vegetables, at 5-16%
*More than 75% of the CS capacity is used for only storing horticulture crops including potatoes
Healthcare: 25% of the vaccines expire before reaching doctors and patients.

Others: CS, CC sector in India is still evolving & potential remains untapped.
7] Data Points:
1. Largest milk producer globally
2. 2nd largest food producer globally
3. 6th largest Food & Groceries market globally
4. 3rd largest producer of generic medicine globally accounts for 20% of the global supply (by vol)
8] Data Points:
5. Contributes to more than half of the global supply of vaccines
6. The Indian wine industry has an annual turnover of about USD 83 million
• India houses the first Asian Winery outside China that sells 1 million cases in a year
9] Challenges, why potential is untapped?
1. High Investment - refrigerator units & land
2. Awareness
3. Inexperienced in CS, CC
10] Poor CS & CC infrastructure had dampened India's food exports.
Many developed countries have stringent guidelines for import of processed food products
11] Gap Analysis:
As per NCCD only 75% of the installed cold storage capacity is being utilized.
CS, CC facilities r meant for single-purpose storage, thus facilities remains idle for 6 mths due to seasonality of the produce.
12] 3 Top states in terms of the spatial spread of CS capacity:
UP: 39%
WB: 16%
Gujarat: 10%

To improve supply chain efficiency, the Govt has developed CS facilities across the country over the last decade.
The overall CS capacity in India stands at about 39 million tonnes
13] Supply Gap in Cold Chain:
Pack Houses: 99.6%
Ripening Chambers: 91%
Reefer Freight: 85%

We currently have:
Pack Houses: 250
Ripening Chambers: Used for Mango & Banana ripening only
Reefer Freight: 4.2 Million Tons
Potential: There is a considerable lag in terms of other cold chain
infrastructure as mentioned above: pack houses, ripening chambers and reefer freight.

Key Players in CS: Snowman, Coldman, Roshan Frozen & Cold Storage, Crystal, Gubba CS,
Coldex, Coldstar, Kelvin,
15] Untapped Potential:
1. Gaps mentioned above
2. Organized Retail Food Processing
3. Online Purchase of vegetables & groceries
4. During COVID outbreak the e-commerce sector grew nearly 20%
16] By 2023
Food & Groceries organized industry grow to 829 B (it was negligible as of 2015)
F&G Retail: 2.1B to 8.7B
Dairy Industry: 110B to 259B
Food Processing & Pharma: 33B & 90B

This growth drive CS Sector
CS Capacity: 40 to 80 million tonnes
CS Segment: 3.5B to 7.0 B
17] *Snowman Logistics*:
Bengaluru-based Snowman Logistics is mkt leader in cold chain logistics with over 30% of capacity amongst integrated organised cold chain service providers in India.

Snowman Logistic commenced their business as a trader of frozen marine products in 1998
18] Snowman commenced cold storage operations at 4 locations. Operations of company classified in to –
Temperature Controlled Services &
Ambient distribution

*Snowman continues to be the market leader in the cold chain industry
19] *In 2018, Snowman Logistics Ltd. aims to grow at 22 percent a year, after the frozen food company doubles its capacity in the next three years

Crisil Research: “This will swell the industry to Rs 47,200 cr in financial year 2022 from Rs 24,800 cr

20] Financials & SHP:
Mkt Cap: 1000 Cr
Debt to Equity: 0.42
Equity: 167 Cr
Pledged %: 0

Gateway Distriparks: 40.25%
Adani: 26%

CMP: 67
ATH: 125
21] Not Sure on the below news:

The Adani Ports & SEZ has acquired 40.25 per cent stake in Snowman Logistics from its parent company, Gateway Distriparks

22] Here is a corporate video of Snowman Logistics.

Imp: Though I am impressed with CS sector potential. Honestly, I am not impressed with Snowman's Financials.
Adding 'notes by @drprashantmish6 on Snowman' to this thread 👇
Pre covid tweet, Govt's support on CS Sector👇
UPS & DHL r building football field sized freezer farm for CS of Covid vaccine deliveries.

UPS is building capacity for -80°C storage; DHL expands in Indianapolis

How we are progressing here, @kiranshaw ?
The CS infra requirements during Vaccine drive is huge👇

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