Glottis Limited has submitted to the Exchange, the financial results along with outcome for the period ended December 31, 2025.
GLOTTIS · price
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Glottis Limited, a Chennai-based freight forwarding company that listed on NSE/BSE in October 2025, reported a steep decline in Q3 FY26 (quarter ended December 31, 2025) performance. Revenue from operations fell to Rs. 14,387 lakhs from Rs. 19,773 lakhs in Q3 FY25 (down ~27%), while profit after tax plunged ~80% YoY to Rs. 270 lakhs from Rs. 1,347 lakhs. For the 9-month period, revenue declined ~17% to Rs. 52,674 lakhs and PAT fell ~40% to Rs. 2,700 lakhs. Operating margin compressed sharply from 9.51% to 2.77% YoY, driven by softer global freight rates, weaker demand, and a significant decline in solar-related transactions. The company raised Rs. 16,000 lakhs via IPO in October 2025 but had used only Rs. 3,544 lakhs by Dec 31, 2025; the board approved an extension of the timeline for utilization. Additionally, the board approved incorporation of a wholly-owned subsidiary in Texas, USA, and appointed Mr. Suraj Prakash Gupta as Head of Corporate Governance and Compliance. A GST show cause notice for Rs. 123.22 lakhs was resolved in the company's favor with no liability.
Negative near-term sentiment likely as revenue and profits fell sharply quarter-on-quarter and YoY due to weak freight rates and demand. However, the IPO proceeds remain largely unutilized (Rs. 12,456 lakhs parked in FDs earning interest), the US expansion signals growth ambition, and there are no debt servicing concerns (debt-equity at 0.08).