Glottis , a prominent logistics company, has reported a significant 27.7% sequential increase in revenue for Q2 FY26, reaching INR 2,147 million. The company's latest earnings call revealed several key developments and future plans.

Financial Highlights

The company's EBITDA stood at INR 181 million with a margin of 8.4%, while Profit After Tax (PAT) was INR 124 million, translating to a 5.8% margin.

Operational Performance

Glottis handled 21,972 TEUs (Twenty-Foot Equivalent Units) during Q2 FY26, showing a decrease from 25,060 TEUs in Q1 FY26. Despite this reduction in volume, the company managed to increase its revenue, primarily due to improved realization and higher freight rates in Q2.

Business Mix and Geographical Focus

Sea import continues to be the largest revenue contributor for Glottis, accounting for 81% of the revenue in Q2 FY26. The company reported encouraging progress in its air segment, with air import revenue growing 17.3% year-on-year and air export revenue more than doubling compared to the previous year.

Geographically, Asia remains Glottis' strongest region, contributing 86% of the revenue in Q2 FY26. The company's top five customers increased their contribution to 41% of the revenue in Q2 FY26, up from 39% in Q1 FY26.

Industry Focus and Diversification

The renewable energy sector continues to be a significant contributor to Glottis' business, accounting for 46% of the revenue in Q2 FY26, up from 43% in Q1 FY26. The company plans to maintain its focus on this sector while also diversifying into other industries such as automobiles, fashion, and pharmaceuticals.

Expansion Plans

Glottis plans to begin purchasing trailers and containers worth INR 130 crores from December 2025, using its IPO proceeds. This move marks a shift from the company's previously asset-light model to a more asset-heavy approach. The management expects this backward integration to enhance customer relationships and create new business opportunities.

Sales Team Expansion

The company is actively expanding its sales team, particularly in the western and northern regions of India. New sales personnel are expected to join by the end of Q3 FY26 or early Q4 FY26, focusing on areas such as Gujarat, Maharashtra, and New Delhi.

Future Outlook

Glottis remains focused on strengthening customer relationships, expanding service capabilities, and improving operational discipline. The management is optimistic about the company's growth prospects, particularly in the renewable energy sector, including emerging opportunities in the battery segment.

As Glottis navigates the changing trade environment and implements its expansion plans, investors will be keen to observe how these strategies translate into financial performance in the coming quarters.

Glottis Limited, a leading logistics services provider, has reported its financial results for the second quarter of fiscal year 2026, showcasing a mixed performance with year-over-year declines but sequential improvements.

Key Financial Highlights

• Revenue: Rs. 2,147.00 million in Q2 FY26, down 25.2% year-over-year but up 27.7% quarter-over-quarter
• EBITDA: Rs. 181.00 million, with a margin of 8.4%
• Profit After Tax (PAT): Rs. 124.00 million, with a margin of 5.8%

Revenue and Profitability

Glottis Limited's revenue from operations for Q2 FY26 stood at Rs. 2,147.00 million, marking a significant 25.2% decrease compared to the same quarter last year. However, the company showed resilience with a 27.7% sequential growth from Q1 FY26, indicating a recovery trend.

The company maintained profitability despite challenging market conditions. EBITDA for the quarter was Rs. 181.00 million, translating to an EBITDA margin of 8.4%. Profit After Tax (PAT) reached Rs. 124.00 million, resulting in a PAT margin of 5.8%.

Operational Performance

During Q2 FY26, Glottis Limited handled 21,972 Twenty-foot Equivalent Units (TEUs), reflecting the ongoing market dynamics in the logistics sector. The company's sea import segment remained the primary revenue driver, contributing approximately 81% to the quarterly revenue.

Segment Performance

The air freight segment showed encouraging growth:

• Air Import revenue increased by 17.3% year-over-year
• Air Import's share of total revenue rose to 2.11% in Q2 FY26 from 1.34% in Q2 FY25
• Air Export revenue more than doubled year-over-year, increasing its contribution to 0.66% of total revenue

Customer Traction and Geographic Presence

• Top 5 customers contributed 41% to the revenue in Q2 FY26, up from 39% in Q1 FY26
• Asia remained the dominant region, contributing 86% to revenue in Q2 and 84% during H1 FY26

Industry Focus

The renewable energy sector showed positive momentum:

• Share of revenue improved to 46% in Q2 from 43% in Q1
• Growth supported by sustained global capacity expansion in the clean energy value chain
• Rising import flows into India contributed to the sector's growth

Management Commentary

Ramkumar Senthilvel, Managing Director of Glottis Limited, commented on the performance: "The second quarter of FY2026 reflects a stable performance in a changing trade environment. Despite market-wide pressure on freight rates and a moderation in global shipment movement, the company continued to build on its growth strategy, focusing on strengthening core business segments, enhancing customer engagement, and capturing emerging opportunities across trade lanes."

Future Outlook

Glottis Limited plans to focus on:

• Expanding service capabilities across both sea and air segments
• Deepening customer relationships
• Leveraging its presence across high-growth end-industries and trade lanes
• Driving scale and efficiency through continued strengthening of internal processes and customer reach

Regulatory Update

Glottis Limited disclosed receiving an order from the Office of Commercial Tax Officer, Chennai, regarding non-remittance/short remittance of Reverse Charge Mechanism (RCM) on import of services for FY 2019-20, 2021-22, and 2022-23. Key points:

• The company has fully paid the required amounts, including interest, totaling approximately Rs. 1.18 crore in September 2025
• The matter has been concluded
• The company states that there is no material impact on its operations due to this order

Glottis Limited's Q2 FY26 results demonstrate the company's ability to navigate challenging market conditions while positioning itself for future growth in the logistics sector.