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.
high · data_observationGlottis Ltd — Q3 FY26
Glottis reported a weak Q3 FY26 with revenue of ₹143.9 crore and EBITDA margin of 2.8%, down sharply from 7.4% in the 9-month period.
bearish
high
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
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.
medium · management_commentaryExecution risk in backward integration
Trailer deployment delayed to Q1 FY27 due to driver training; capacity utilization and cost savings from new assets remain unproven.
medium · analyst_question