Sustained margin pressure from high cost of services
Cost of services rose to 91% of revenue in Q3 from ~86-87% historically, driven by soft freight rates and customer retention strategy.
GLOTTIS / Q3-FY26 / risks
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Glottis · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Renewable energy policy uncertainty
US tariffs and India's ALMM policy have reduced solar module imports, impacting a key vertical. Management expects a shift to raw materials and energy storage, but timing is uncertain.
Execution risk in backward integration
Trailer deployment delayed to Q1 FY27 due to driver training; capacity utilization and cost savings from new assets remain unproven.