The Board of Directors in its meeting held today May 25, 2026 has considered and approved the appointment of Internal Auditor of the Company for the Financial Year 2026-27.
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Global Surfaces Ltd held its Board meeting on May 25, 2026. The company reported consolidated revenue of Rs 2,332.39 million for FY26 (up from Rs 2,076.44 million), but posted a consolidated net loss of Rs 318.39 million compared to a profit of Rs 289 million in FY25. 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 redesignation of Mr. Yashwant Kumar Sharma from Independent Director to Non-Independent Director (subject to shareholder approval). Key concerns highlighted include US tariff impacts on exports, disruptions from Middle East conflicts affecting the Dubai subsidiary, and discontinuation of the loss-making Bagru Unit (natural stone processing) with effect from March 31, 2026.
The company swung to a consolidated loss due to geopolitical disruptions and tariff pressures, particularly in the UAE subsidiary which reported a net loss of Rs 391.83 million. The closure of the Bagru unit and director redesignation suggest ongoing operational and governance changes that investors should monitor.