Glottis Ltd IPO

Glottis delivers end-to-end logistics solutions with multimodal capabilities across verticals to optimize the movement of goods across geographies.

One of the leading freight forwarding player operating in the Renewable Energy Industry.

Wide network of Intermediaries coupled with optimum utilisation of our asset portfolio.

Scaled multimodal logistics operations with capabilities of handling diverse projects.

While we have adopted a business model wherein majority of assets necessary for offering our services to our customers are provided on rent by a wide network of our business partners, we intend to reduce our dependence on hired assets by acquiring and owning more of such assets. We plan to utilise the entire Net Proceeds towards purchase of commercial vehicles and containers, we may not be able to maintain and operate such owned assets efficiently in our business.

We derive majority of our revenue from ocean freight (import and export) segment, constituting 94.70%, 95.32% and 97.24% of our revenue from operations during the Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Our financial condition would be materially and adversely affected if we fail to obtain new contracts, renew our contracts with existing customers or if our current contracts are terminated, in the said segment.

We extend credit to our customers, with post-billing credit terms, and we may experience delays in payments by our customers even beyond the credit period afforded to them. The holding level of our trade receivables increased from 27 days as of March 31, 2023 to 41 days as of March 31, 2025 primarily due to increase in credit period advanced to customers. Further, bad debts of our Company pursuant to default in payment by our customers were Rs. 0.04 million, Rs. 1.90 million and Rs. 2.50 million for Fiscals 2025, 2024 and 2023 respectively. We may not be able to collect receivables due from our customers, in a timely manner, or at all, which may adversely affect our business, financial condition, results of operations and cash flows.

We require third parties to execute a portion of our orders, which presents numerous risks. We depend on our network partners, intermediaries and vendors/suppliers in certain aspects of our operations. Occurrence of instances of unsatisfactory services provided by them or failure to maintain relationships with them could disrupt our operations.