Glottis Limited Extends Timeline for Utilization of ₹1,245.63 Million Unutilized IPO Proceeds

Glottis Limited has received board approval to extend the timeline for utilizing its remaining IPO proceeds by one year, following a board meeting held on February 13, 2026. The company filed this intimation under Regulation 30 of the SEBI Listing Regulations with both NSE and BSE on February 14, 2026. IPO Proceeds Utilization Status The logistics company had originally proposed to utilize the funds raised through its initial public offering for various identified objects as disclosed in the offer documents. The current utilization status shows significant funds remaining for deployment. Parameter: Amount (₹ Million) Total IPO Proceeds: 1,599.99 Utilized Amount (as of Dec 31, 2025): 354.36 Unutilized Amount: 1,245.63 Extended Timeline Details The Board of Directors has approved extending the utilization timeline for the remaining funds by one year. This extension provides the company additional time to deploy the substantial unutilized amount according to the original plan. Timeline Parameter: Details Extension Period: 1 Year New Timeline Start: April 01, 2026 New Timeline End: March 31, 2027 Objects of Issue: No Change from Original Regulatory Compliance and Fund Management Glottis Limited has emphasized that there are no changes to the objects of the issue as originally stated in the offer document. The extension pertains solely to the timeline for deployment of the remaining funds. The company maintains strict compliance with regulatory requirements for managing the unutilized proceeds. The unutilized IPO proceeds are currently maintained in compliance with: Companies Act, 2013 SEBI (ICDR) Regulations, 2018 Other applicable laws and regulations The funds are parked in interest-bearing instruments as permitted under regulations, pending their deployment for the intended purposes. This approach ensures the company maximizes returns on the unutilized funds while maintaining regulatory compliance. Corporate Disclosure The intimation was signed by Nibedita Panda on behalf of Glottis Limited and filed with both the National Stock Exchange of India Limited and BSE Limited. The company has made this information available on its official website at https://www.glottislogistics.in/ for stakeholder access and transparency. Glottis Limited has announced its unaudited standalone financial results for the quarter ended December 31, 2025, revealing a significant decline in operational performance. The board meeting held on February 13, 2026, approved the quarterly results along with several strategic decisions including senior management appointments and subsidiary incorporation plans. Q3FY26 Financial Performance The company's financial performance for Q3FY26 reflected challenging market conditions with notable declines across key metrics: Financial Metric: Q3FY26 Q3FY25 Change (%) Revenue from Operations: ₹14,387.04 lakhs ₹19,773.17 lakhs -27.2% Net Profit: ₹270.37 lakhs ₹1,347.11 lakhs -79.9% Total Income: ₹14,522.55 lakhs ₹19,834.07 lakhs -26.8% Operating Margin: 2.77% 9.51% -670 bps Nine-Month Period Performance For the nine-month period ended December 31, 2025, the company demonstrated resilience despite quarterly challenges: Period Metric: 9M FY26 9M FY25 Change (%) Revenue from Operations: ₹52,673.63 lakhs ₹63,404.86 lakhs -16.9% Net Profit: ₹2,700.31 lakhs ₹4,479.39 lakhs -39.7% Earnings Per Share: ₹3.21 ₹5.60 -42.7% Market Challenges and Business Impact The decline in revenue and profit margins was primarily attributed to uncertain global market conditions and lower average freight rates driven by softer demand in certain sectors. Solar-related transactions experienced significant decline due to reduced project execution across the industry. The company noted that these challenging conditions particularly impacted the third quarter performance. Strategic Corporate Developments The board meeting resulted in several key strategic decisions: Development: Details Senior Management Appointment: Suraj Prakash Gupta as Head Corporate Governance Subsidiary Incorporation: Wholly-owned subsidiary in Texas, USA Investment Amount: USD 2,000 initial capital IPO Proceeds Extension: Timeline extended for fund utilization IPO Proceeds Utilization Out of the total IPO proceeds of ₹15,999.87 lakhs raised in October 2025, ₹3,543.62 lakhs has been utilized by December 31, 2025. The remaining ₹12,456.25 lakhs is held in temporary fixed deposits pending utilization for stated objectives including capital expenditure and general corporate purposes. Regulatory Compliance and Outlook The company successfully resolved a GST scrutiny notice regarding excess Input Tax Credit claims of ₹123.22 lakhs, with proceedings dropped after providing adequate documentation. All debt servicing obligations were met during the quarter, maintaining the company's financial discipline despite operational challenges. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.