Glottis Ltd (MAINBOARD)

Glottis IPO Details

Company Financials In Crores

Company Overview

Glottis Limited is a dynamic and rapidly growing logistics solutions provider, incorporated in June 2024. The company specializes in comprehensive, end-to-end supply chain management, leveraging its multimodal capabilities in ocean, air, and road freight to optimize the movement of goods globally. While newly incorporated, it has established a significant operational footprint and a strong track record of customer service.

Core Services
Glottis offers a full suite of logistics services, including:

• Ocean Freight: Full Container Loads (FCL) and project cargo for import and export.

• Air Freight: Expedited import and export services.

• Road Transportation: Domestic haulage and distribution.

• Ancillary Services: Warehousing, storage, cargo handling, Third-Party Logistics (3PL), and customs clearance, providing a truly integrated solution.

Operational & Financial Highlights (as provided)

• Scale: Handled approximately 95,000 TEUs of ocean freight imports in FY 2024.

• Customer Base: Served a growing and diverse clientele, with 1,246 customers in the six months ending September 2024, and 1,662, 1,513, and 1,476 customers in Fiscals 2024, 2023, and 2022, respectively.

• Global Reach: Services customers across the globe, including Europe, North America, South America, Africa, the Middle East, and Asia. The company served clients in 119 countries in the first half of FY 2025.

Network & Infrastructure

• Indian Presence: Eight branch offices across major Indian logistics hubs (New Delhi, Gandhidham, Kolkata, Mumbai, Tuticorin, Coimbatore, Bengaluru, Cochin), with its registered and corporate office in Chennai.

• Global Partnerships: A robust network of 171 overseas agents, 98 shipping lines, 52 transporters, 43 customs house agents, 22 airlines, and 20 consolidation agents as of January 2025.

• Asset Base: Owns 17 commercial vehicles, providing control and flexibility for road transportation needs.
  Glottis IPO Objectives

  The Company Glottis IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

  1. Funding of capital expenditure requirements of our Company towards purchase of commercial vehicles and containers; and: ₹132.54 crores

  2. General Corporate Purposes: 

Strength

Industry Leadership: A recognized leader in providing logistics solutions for the high-growth Renewable Energy industry.

Optimized Network: A vast and well-utilized network of intermediaries and owned assets ensures efficiency and reliability.

Multimodal Expertise: Scaled operations capable of managing complex, diverse projects through seamless integration of ocean, air, and road transport.

Weakness

High dependence on ocean freight – Over 94–97% of revenue comes from ocean freight; any loss or non-renewal of contracts in this segment may severely impact business.

Receivables & credit risk – Increasing credit period (27 days in FY23 to 41 days in FY25) and rising bad debts highlight risk of delayed collections and defaults from customers.

Asset ownership & operational risk – Shift from rented assets to owned vehicles/containers may cause inefficiencies in maintenance and operations, affecting profitability.