NSE: GLOTTIS · BSE: 544557
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. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sea Import (79%), Sea Export (15%), Air Import, Air Export, Surface Transport. Cyclical freight forwarding exposed to global freight rates; shifting from asset-light brokerage towards asset ownership via owned trucks, containers and trailers.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 723 |
| EBITDA (ex other income) | 50 |
| margin % | 6.9 |
| Owners' profit | 38 |
| EPS, as reported (₹) | 4.37 |
| ROE % · ROCE % | 13.4 · 18.8 |
| Debt / equity (x) | 0.18 |
| Cash from operations | (69) |
| Capex | (10) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q4 FY26 | Q1 FY27 |
|---|---|---|
| Revenue | 196 | 235 |
| Profit before tax | 14 | 15 |
| Net profit | 11 | 11 |
| EPS (₹) | 1.15 | 1.16 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Routine SEBI compliance certificate filed for July-September 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · AGM 2026: Financial statements and director re-appointment approved | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Glottis 4th AGM concludes; two resolutions passed | board shareholder meetings | medium | — | — |
| 27 Sept 2026 · Trading Window Closure from October 1, 2026 for Q2 Results | compliance | minimal | — | — |
| 24 Sept 2026 · Glottis to attend Arihant Capital Bharat Connect Conference | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Glottis incorporates wholly owned subsidiary in Malaysia for logistics expansion | strategic transactions | medium | — | — |
| 4 Sept 2026 · Glottis Limited publishes newspaper notice for 04th AGM and e-voting | compliance | minimal | — | — |
| 3 Sept 2026 · Glottis Limited to hold 4th AGM on September 28, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Newspaper publication notice for 04th AGM on September 28, 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · Clarification on Q1 FY27 results format | regulatory legal | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.