Glottis Ltd(GLOTTIS)

NSE: GLOTTISBSE: 544557

₹ 55.75+7.58%refreshed 26 Oct, 11:53 am ISTMarket cap: ₹ 515 crWebsite: www.glottislogistics.inUpdated: 24 Oct 2026

About

Glottis Ltd is an Indian multi-modal logistics provider offering sea and air freight forwarding (imports and exports), road transport and, since Q1 FY27, warehousing. Sea imports made up ~79% of revenue in Q3 FY26. The company handled 89,098 TEUs in FY26, when revenue was Rs 722.59 Cr. Renewable energy is its largest customer sector, at 40.9% of FY26 revenue.^[1][2][3][4]

Service mix

Sea import revenue share: ~79% in Q3 FY26 vs 81% in Q2 FY26.^[3][5]
Sea exports: about Rs. 467 million in revenue in Q1 FY27, up 83.5% YoY; share 19.9% vs 15.1% in Q1 FY26.^[1]
Air freight share: 4.9% of revenue in Q1 FY27 vs 2.9% in Q1 FY26. Air import revenue grew 97.1% YoY and air export revenue grew 240.4% YoY.^[1]
Air import share: 2.4% in FY26 vs 1.5% in FY25. Air export share: 1.2% vs 0.4%.^[2]
Road transport: around Rs. 107 million in Q1 FY27 (4.6% of revenue), up 107.8% YoY.^[1]
Warehousing: about Rs. 9 million in Q1 FY27, the company's first revenue from this service.^[1]

Customer sectors

Renewable energy share of revenue: 40.9% in FY26 vs 42.4% in FY25 and 47.5% in FY23.^[2]
Automobile share of revenue: 4.2% in FY26 vs 1.5% in FY25. Contracts were signed with top automobile players in Q3 FY26.^[2][3]
Agro products: revenue up 58.7% YoY in FY26, making up 5.7% of revenue.^[2]
Engineering products share of revenue: 20.2% in Q3 FY26 vs 10.8% in Q2 FY26.^[3]
Began handling battery energy storage (BESS) container logistics in Q3 FY26, with contracts signed and work under way at multiple Indian ports.^[3]

Volumes and realisations

TEUs handled: 21,841 in Q1 FY27 vs 26,278 in Q1 FY26 and 31,402 in Q4 FY26.^[1]
TEUs handled: 89,098 in FY26 vs 112,146 in FY25.^[2]
Average revenue per TEU: ~INR 67,000 in Q3 FY26 vs around 79,000 in Q2 FY26.^[3]
Trade receivable days: 77 days in Q1 FY27.^[1]

Customers

Top 5 customers' share of revenue: 29% in Q1 FY27, vs ~33% in FY26 and 41% in Q2 FY26. The company is targeting 15-20%.^[1][2][5]
260 new customers added in Q1 FY27; repeat customers were ~75% of the base in the quarter.^[1]
163 new customers added in FY26; repeat customers rose to 959 from 871 in FY25.^[2]

Network and fleet

Owned vehicle fleet: 80 vehicles in Q1 FY27, up from 42 at the end of Q4 FY26 and 17 at the end of Q3 FY26.^[1]
9 operational offices as of Q3 FY26. An Ahmedabad branch opened in Q3 FY26, adding to the existing Gandhidham office.^[3]
Plans to develop the Hyderabad and Kolkata offices faster during FY27.^[1]

Expansion and capex

IPO-funded capex programme of Rs. 132 crore for trailers and containers, to be completed by end of March 2027.^[1]
Deployment of owned containers to start in Q3 FY27. The plan in Q3 FY26 was for 1,000 containers.^[1][3]
Expanding presence in the Africa, US and Europe trade corridors, with Africa as the priority, and building up air products over the next two years.^[1]

Recent developments

Net worth rose to INR 2,809 million as of 31 March 2026 from INR 978 million a year earlier, mainly from IPO proceeds.^[2]
Management expects FY27 revenue to exceed FY25 levels (stated in the Q1 FY27 call).^[1]

Market Cap

₹515 Cr

High / Low

₹81 / 37

Stock P/E

24.3

Price / Book

1.9

Book Value

₹30

EPS

₹4.1

No. of Shares

9.24 Cr

ROCE

16.1%

ROE

13.4%

OPM

7.4%

Debt / Equity

0.18

Sales

₹723 Cr

Net Profit

₹38 Cr

Promoter holding

74.2%

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