Glottis Limited has completed the incorporation of a wholly owned subsidiary, Glottis Logistics SDN. BHD., in Malaysia. The entity was approved on September 7, 2026, to expand the company’s business operations.

The filing with the National Stock Exchange of India Limited and BSE Limited states that the new subsidiary operates in the freight forwarding and other logistics support services sector. The move is aimed at strengthening the company’s footprint in this segment.

Incorporation Details

The subsidiary was incorporated under the laws of Malaysia. Glottis Limited holds 100% subscription to the initial paid-up capital. The investment will be made in one or more tranches as per business requirements.

Regulatory Disclosures

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company noted that the proposed entity is a related party as it is a wholly owned subsidiary. Save for this relationship, the promoters or promoter group have no other interest in the transaction.

No governmental or regulatory approvals were required for this acquisition. The turnover for the newly incorporated entity is currently nil.

Glottis Limited has scheduled its fourth Annual General Meeting for Monday, September 28, 2026, at 11:00 am through video conferencing and other audio-visual means.

The company notified the National Stock Exchange of India Limited and BSE Limited on September 3, 2026, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. On September 4, 2026, the company published a newspaper advertisement confirming the electronic dispatch of the Notice of the 4th AGM along with the Annual Report for FY25-26. Shareholders will vote on ordinary business items including the adoption of audited standalone and consolidated financial statements for the financial year ended March 31, 2026.

FY26 Financial Performance

FY26 marked Glottis's first full financial year as a listed entity, following its IPO and listing on October 7, 2025. The year saw a cyclical contraction in revenue and profitability driven by softer global trade volumes and a second-half freight-rate correction, alongside a material strengthening of the company's balance sheet and asset base.

The following table summarises the company's standalone and consolidated financial highlights for FY26 versus FY25:

Revenue declined 23.22% to ₹72,258.81 lakhs, reflecting a 20.6% fall in ocean freight volumes to 89,098 TEUs and a steep correction in freight rates in the second half of the year. Net worth expanded 187% to ₹28,097.94 lakhs, supported primarily by IPO proceeds and retained earnings. The debt-to-equity ratio improved to 0.18x from 0.23x.

Operational Highlights

Despite the revenue decline, the company strengthened its operational platform during FY26. Key operational metrics are presented below:

The company served 2,071 customers across 114 countries in FY26, handling approximately 89,000+ TEUs. Renewable energy remained the largest industry vertical at 40.85% of revenue, followed by engineering products. Sea import contributed approximately 78% of FY26 revenue, while sea export accounted for approximately 14%. Air freight import revenue grew 23.6% year-on-year.

During the year, the company incorporated a wholly owned subsidiary, Glottis Inc., in Texas, USA on March 18, 2026, and opened a new branch in Ahmedabad, taking its domestic branch network to nine offices.

Board Reappointment

The AGM agenda includes the reappointment of Mr. Kuttappan Manikandan as Managing Director. He retires by rotation at this meeting and, being eligible, has offered himself for reappointment.

Mr. Manikandan has been associated with Glottis since its incorporation and leads export operations across air, sea, and road verticals. He has over eighteen years of experience in the logistics industry.

Voting and Attendance

The register of members will remain closed from September 21, 2026, to September 28, 2026. September 21, 2026, is the cut-off date for voting rights. Remote e-voting begins on Friday, September 25, 2026, at 9:00 am and ends on Sunday, September 27, 2026.

Individual demat account holders can vote through their depository participants or directly via CDSL and NSDL portals. Corporate members must submit board resolutions authorising representatives to the scrutiniser, Ms. Jayashree S. Iyer, before the meeting. The e-voting facility is provided by KFin Technologies Limited.