Company is intimating to Stock Exchange regarding Earnings call transcript held on October 28, 2026

November 04, 2026 The General Manager, The Manager, Department of Corporate Services Department of Corporate Services National Stock Exchange of India Limited BSE Limited Exchange Plaza Floor 25, PhirozeJeejeebhoy Towers, Dalal Plot No. C/1, G Block, Bandra Kurla Complex, Street, Mumbai Bandra, Mumbai – 400 051 Mumbai – 400 001 NSE Symbol: SNOWMAN Scrip Code: 538635 Equity ISIN: INE734N01019 Dear Sir/Madam, Sub: Transcript of Q2 FY 2026-27 – Earnings Call held on Wednesday, October 28, 2026, from 04:00 P.M. (IST) onwards Pursuant to Regulation 30 read with Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and further to our communication dated October 28, 2026, wherein we had informed regarding the audio recording of the Earnings Call that was duly held on Wednesday, October 28, 2026 from 04:00 P.M. (IST) onwards, in this regard, please find enclosed herewith the Transcript of the aforesaid Earnings Call. Please note that the aforesaid transcript of the Call has also been uploaded on the website of the Company at: https://snowman.in Kindly take the aforesaid information on record. Thanking You, Yours Faithfully, For Snowman Logistics Limited Richa Gupta Company Secretary & Compliance Officer Membership No. A56523 Encl.: As above Snowman Logistics Ltd. Corporate office: Wing B of 4th Floor, Prius Platinum, Saket District Centre, Saket, New Delhi – 110017. CIN: L15122MH1993PLC285633 T 011 4055 4500 Regd. Office: Plot No. M-8, Taloja Industrial Area, MIDC, Raigad, Navi Mumbai, Maharashtra -410206 T +91 22 39272004 E info@snowman.in W www.snowman.in “Gateway Distriparks Ltd & Snowman Logistics Ltd Q2 FY27 Earnings Conference Call” October 28, 2026 E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on 28th October 2026 will prevail. MANAGEMENT: MR. PREM KISHAN DASS GUPTA – CHAIRMAN AND MANAGING DIRECTOR (GATEWAY) & CHAIRMAN AND DIRECTOR (SNOWMAN) MR. ISHAAN GUPTA – JOINT MANAGING DIRECTOR (GATEWAY) & DIRECTOR (SNOWMAN) MR. SAMVID GUPTA – JOINT MANAGING DIRECTOR (GATEWAY) & DIRECTOR (SNOWMAN) MR. KARTIK SUNDARAM AIYER – CFO – GATEWAY DISTRIPARKS LIMITED MR. RAJGURU BEHGAL – CHIEF BUSINESS OFFICER – GATEWAY DISTRIPARKS LTD MR. PADAMDEEP SINGH HANDA – CEO AND DIRECTOR – SNOWMAN LOGISTICS LTD MR. RAGHAV GARG – CFO – SNOWMAN LOGISTICS Page 1 of 14 Gateway Distriparks Limited and Snowman Logistics Limited October 28, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q2 FY '27 Earnings Conference Call of Gateway Distriparks Limited and Snowman Logistics Limited. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Please note that this conference is being recorded. Before we proceed, we request everyone to include their firm's name, alongside their name in the Zoom display. Today, on the call, we have Mr. Prem Kishan Dass Gupta, Chairman and Managing Director; Mr. Ishaan Gupta, Joint Managing Director; Mr. Samvid Gupta, Joint Managing Director. From Gateway Distriparks Limited, Mr. Kartik Sundaram Aiyer, CFO; Mr. Rajguru Behgal, Chief Business Officer. From Snowman Logistics Limited, Mr. Padamdeep Singh Handa, CEO and Director; Mr. Raghav Garg. We will now directly begin the question and answer session. Moderator: The first question is from Jainam Shah. Jainam Shah: Yes. Hi team, this is Jainam Shah from Equirus Securities. This question relates to the Gateway Distriparks mainly. When we see the railway-specific volumes that eventually suggests that there has been a good recovery on a sequential basis by around 11-odd percentage. And wherein I believe overall macroeconomic situation has not been great. So how do we see this going forward for the next half and for the next year, how do we see this momentum going on? Overall rail volume has been, you can say, at a good rate for this particular quarter? Samvid Gupta: Yes, volume, we expect to continue at a similar trend. There is still uncertainty overall, like 1 month is good, 1 month is bad, it's been going like that. But overall, we've been able to gain some volumes, a little bit domestic also has started. Ankleshwar has got all its EXIM permissions now in place. So Q3, we'll see some volumes of that come in. So rest of the year also, this 100,000 for the rail volumes is the bare minimum that we're targeting for the quarter. And next year should see some additional growth on that because we'll be getting a full year of Ankleshwar EXIM operations as well. So our guidance remains in that double-digit thing for both -- maybe this full year, we have to see again because Q1 took a big hit. But for next year, we maintain a double-digit growth. Jainam Shah: Got it. On the realization front, overall blended realization has been improved around 5% Y-o- Y, 7% Q-o-Q. So is it on the back of some mix change, mix change in a sense, railway volume higher and CFS volume lower or let's say, something on, you can say domestic higher or, let's say, it would have a negative impact if Ankleshwar has contributed as well. So if you can just throw some light on this. Is it a structural realization change or just a mix change? Or has there been any price action during the quarter? Page 2 of 14 Gateway Distriparks Limited and Snowman Logistics Limited October 28, 2026 Samvid Gupta: There was some price increases. This was mainly after fuel hikes came in, so we've passed that on to customers. But our cost also increased accordingly to that. So that was pretty much a pass- through. Ankleshwar mix, yes, that has also made some difference. And with EXIM coming in at Ankleshwar, you'll see the realization per TEU go down a little bit because of its shorter lead distance. So we'll be focusing on the overall EBITDA numbers going forward as well. Moderator: We take the next question from Prashant Kale. Prashant Kale: This is Prashant Kale, an Individual Investor. Congratulations on good set of numbers. Sir, my question is regarding Snowman Logistics. So Snowman Logistics is generating very negligible profit despite of having in operations since a long time. So what is the prospect for Snowman Logistics? And do you see any possibility to generate, let's say, INR10 crores, INR15 crores of profit per quarter in coming years? Samvid Gupta: We're reinvesting whatever we can. So that's why there's a higher interest and depreciation cost that's coming in. But if you look at the operating cash flow and if you look at the EBITDA also, it's a healthy growth happening in Snowman Logistics. Revenue side has been slightly lower because 5PL, we've not gone as aggressive as we projected earlier because of lower margins in it. We can take some 5PL business if we want, but that's at low margin. So warehousing and transport is seeing improvement. In fact, this year, we're probably on track to cross INR100 crores EBITDA again. Prashant Kale: Yes. But PAT, significant PAT bottom line. Do you see the possibility in next year? Or when can we expect better profitability? Samvid Gupta: So PAT, like I said, because we're reinvesting, the interest and depreciation will continue to be there. There might be some growth in PAT, but we're more focused on the operational cash flow coming through all our investments. And these are long-term generating assets. So these are made with a horizon of 30, 40 years. Our initial cold storages made in the 1990s are still running to date. So we have to look at from a long-term point of view. It's not just an accounting figure that we want popping out. Prashant Kale: All right. Sir, my next question is regarding this Jaipur ICD, which has been still stuck for almost 2 years now, and we see very little progress. Is there any new update or any progre [Showing first 8,000 characters — download PDF for full document]