Global Surfaces Limited has informed the Exchange about re-appointment of Internal Auditor of the Company for the Financial Year 2026-27.
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Global Surfaces Limited held its Board Meeting on May 25, 2026, approving audited standalone and consolidated financial results for Q4 and FY 2025-26. The company reported consolidated revenue of Rs. 2,332.39 million with a net loss of Rs. 318.39 million for FY 2025-26, compared to a profit of Rs. 1,289 million in the previous year. Standalone profit after tax was Rs. 76.12 million. The Board re-appointed M/s NIA & Associates as Internal Auditor for FY 2026-27 and approved the re-designation of Mr. Yashwant Kumar Sharma from Non-Executive Independent Director to Non-Executive Non-Independent Director, subject to shareholder approval. The auditors highlighted concerns including significant US market exposure due to tariffs, geopolitical disruptions affecting the Dubai subsidiary, and the discontinuation of the loss-making Bagru Unit (natural stone processing) with effect from March 31, 2026.
The company swung to a consolidated loss in FY 2025-26 due to US tariff impacts, Red Sea disruptions, and losses in the Dubai subsidiary. The closure of the Bagru unit and pending loan-to-equity conversion for the subsidiary indicate ongoing restructuring. Shareholders should monitor the Postal Ballot outcomes and the company's diversification strategies.