GLOTTIS LIMITED

Operates as an India-based logistics and freight forwarding company, moving cargo for importers and exporters across sea, air and surface modes. Ocean freight dominates the business, contributing 92% of FY26 revenue, with sea import alone at roughly 79% of Q3 FY26 revenue and sea export rising to 14.5% from 12.2% quarter-on-quarter. Air freight is smaller but growing, with air import up 23.6% and air export more than doubling year-on-year. Renewable energy is the largest customer vertical at 32.7% of Q3 revenue, followed by engineering products at 20.2%, consumer durables at 9% and minerals & granite at 6.4%; Asia accounts for 83-84% of revenue, North America 8% and Europe 5%. The company is shifting towards asset ownership by building an owned trucking fleet, container pool and trailers, and opened a new Ahmedabad branch for West India coverage. Cost of services ran at 87.8% of FY26 revenue, exposing margins to global freight rate swings. The company added 163 new customers in FY26 and lifted repeat customers to 959.