Glottis Limited Reports Q3FY26 Revenue of Rs 1,439 Million, Down 27.2% YoY
Glottis Limited reported challenging Q3FY26 results with revenue declining 27.2% YoY to Rs 1,439 million amid softer global trade conditions. EBITDA margins compressed significantly to 2.8% from 9.5% in Q3FY25, while PAT fell 79.9% to Rs 27 million. Ocean freight import continued to dominate revenue at 78% contribution, with the company handling 20,710 TEUs during the quarter. Management cited pressure on freight rates and reduced shipment volumes as key challenges.
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Glottis Limited has announced its unaudited financial results for the quarter ended December 31, 2025, reporting a significant decline in revenue and profitability amid challenging global trade conditions. The Chennai-based logistics solutions provider faced headwinds from softer freight rates and reduced shipment volumes across key trade routes.
Financial Performance Overview
The company's Q3FY26 performance reflected the impact of a difficult operating environment on key financial metrics:
| Metric | Q3 FY26 | Q3 FY25 | Y-o-Y Change | Q2 FY26 | Q-o-Q Change |
|---|---|---|---|---|---|
| Revenue from Operations (Rs Million) | 1,439 | 1,977 | (27.2)% | 2,147 | (33.0)% |
| EBITDA (Rs Million) | 40 | 188 | (78.8)% | 181 | (78.0)% |
| EBITDA Margin | 2.8% | 9.5% | - | 8.4% | - |
| PAT (Rs Million) | 27 | 135 | (79.9)% | 124 | (78.1)% |
| PAT Margin | 1.9% | 6.8% | - | 5.8% | - |
| EPS | 0.29 | 1.68 | (82.7)% | 1.54 | (81.2)% |
Revenue from operations declined 27.2% year-on-year to Rs 1,439 million, while quarter-on-quarter revenue fell 33.0%. The company's profitability was severely impacted, with EBITDA margins compressing to 2.8% from 9.5% in the corresponding quarter last year.
Nine-Month Performance
For the nine-month period ending December 31, 2025, Glottis reported revenue of Rs 5,267 million, down 16.9% from Rs 6,340 million in the previous year. EBITDA for 9M FY26 stood at Rs 390 million with a margin of 7.4%, compared to Rs 623 million and 9.8% margin in 9M FY25. Profit after tax declined 39.7% to Rs 270 million.
Operational Metrics and Segment Performance
Glottis handled 20,710 TEUs of ocean freight import during Q3FY26, with volumes remaining lower in line with industry trends. The revenue contribution by segment showed ocean freight import continuing to dominate at 78% of total revenue, followed by ocean freight export at 14%.
| Segment | Revenue Contribution |
|---|---|
| Ocean Freight - Import | 78% |
| Ocean Freight - Export | 14% |
| Road Transport | 4% |
| Air Freight - Import | 3% |
| Air Freight - Export | 1% |
Geographically, Asia remained the leading region contributing 83% of revenue in Q3FY26. From an industry perspective, engineering products accounted for 33% of revenue, while home appliances contributed 20% and renewable energy 19%.
Management Commentary
Managing Director Ramkumar Senthilvel attributed the performance to softer global trade activity and continued pressure on freight rates. He noted that the company remained focused on protecting customer relationships and maintaining service quality while aligning capacity with demand conditions. The management emphasized disciplined shipment selection and variable cost alignment to mitigate the impact of challenging market conditions.
The company's top five customers contributed 31% of revenue in Q3FY26, indicating continued support from established relationships despite reduced shipment sizes. Management highlighted that engagement with core accounts remained active throughout the period.
Market Challenges and Outlook
The logistics environment during the quarter was characterized by excess capacity in certain shipping corridors and rate volatility, which impacted realizations. Lower shipment volumes and rate corrections across major trade lanes, particularly in ocean freight, contributed to the revenue decline. The company focused on tighter shipment-level margin checks and controlled overhead spending to limit the earnings impact.
Historical Stock Returns for Glottis
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -6.45% | -3.37% | -11.07% | -41.47% | -41.47% | -41.47% |
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