Assembled from the company's filings and exchange data as of today. Download PDF renders this page on the server; the narrative sections arrive with the Nexa composer.
Dossier · GLOBAL SURFACES LIMITED · 6 November 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
GLOBAL SURFACES LIMITED
NSE: GSLSU · BSE: 543829
NSE: GSLSU · BSE: 543829
Consumer Discretionary › Consumer Durables › Consumer Durables › Granites & Marbles
GLOBAL SURFACES LIMITED
StateQ2 FY27 filed
Last close · 6 Nov 2026₹22.70
Market cap₹0.1k cr
TTM P/E · P/B · EV/EBITDA— · 0.36 · —
GLOBAL SURFACES LIMITED is a Consumer Durables company listed on NSE. The annual-report business brief for this company has not been generated yet; the numbers below are as filed.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY23–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 178 | 225 | 208 | 233 |
| EBITDA (ex other income) | 36 | 35 | 2 | (11) |
| margin % | 19.9 | 15.5 | 0.9 | (4.9) |
| Owners' profit | 24 | 19 | (29) | (32) |
| EPS, as reported (₹) | 7.10 | 4.41 | (6.73) | (7.18) |
| ROE % · ROCE % | 9.3 · 8.8 | 5.9 · 6.9 | (9.5) · (2.3) | (11.8) · (2.2) |
| Debt / equity (x) | 0.46 | 0.30 | 0.50 | 0.60 |
| Cash from operations | 27 | (37) | (31) | 27 |
| Capex | (114) | (104) | (5) | (9) |
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · GLOBAL SURFACES LIMITED · 6 November 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 46 | 57 | 75 | 54 | 59 | 45 | 65 | 60 |
| Profit before tax | (9) | (11) | 0 | (3) | (3) | (17) | 0 | (5) |
| Net profit | (10) | (11) | (1) | (5) | (3) | (23) | 0 | (5) |
| EPS (₹) | (2.45) | (2.48) | (0.10) | (1.10) | (0.71) | (5.27) | 0.04 | (1.25) |
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| India | 75 | 27.7 |
| United States of America | 52 | 19.4 |
| United Arab Emirates | 143 | 52.9 |
| Total, before eliminations | 270 | 100.0 |
Source: the filed segment block, four quarters summed.
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MIDWEST LIMITED | 3,576 | 31.0 | 3.65 | 21.1 | 10.9 | 12.5 | — | 25.5 |
| POKARNA LIMITED | 2,293 | 18.7 | 2.46 | 16.1 | 8.2 | 7.5 | 14.1 | 36.9 |
| GLOBAL SURFACES LIMITED ◆ | 96 | — | 0.36 | — | (2.0) | (1.4) | — | 2.1 |
| PACIFIC INDUSTRIES LTD. | 92 | 46.2 | 0.21 | 17.2 | 0.4 | 0.3 | (2.8) | 5.6 |
| ROYAL CUSHION VINYL PRODUCTS L | 48 | — | — | — | 21.7 | 197.6 | — | (39.7) |
| ELEGANT MARBLES & GRANI INDUST | 48 | 19.7 | 0.29 | — | 0.7 | 0.9 | — | 5.8 |
| ORIENTAL TRIMEX LTD | 37 | 12.1 | 0.38 | — | 1.8 | 2.8 | — | 17.6 |
| ARO GRANITE IND. LTD. | 35 | — | 0.20 | — | (6.8) | (5.4) | — | (12.9) |
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.4 | 0.3 | 5 of 8 | 43% |
| ROCE | (1.4) | 0.8 | 8 of 9 | 13% |
| ROE | (2.0) | 0.6 | 7 of 8 | 14% |
| Debt / Equity | 0.6 | 0.1 | 7 of 8 | 14% |
| EBITDA margin | 2.1 | 5.6 | 6 of 9 | 38% |
| Revenue growth | 10.7 | (12.6) | 3 of 8 | 71% |
| Profit growth | (18.6) | (73.7) | 3 of 8 | 71% |
| Market cap | 96 | 48 | 3 of 9 | 75% |
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · GLOBAL SURFACES LIMITED · 6 November 2026Page 3 of 3
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Nov 2026 · Q2 FY27 earnings call shows higher sales but sharply lower margin | investor communications | medium | — | — |
| 4 Nov 2026 · Newspaper publication of September 2026 unaudited results | compliance | minimal | — | — |
| 3 Nov 2026 · Q2 and H1 FY27 earnings call audio uploaded | investor communications | low | — | — |
| 3 Nov 2026 · Revised Q2 and first-half FY27 presentation; reported figures unchanged | investor communications | medium | — | — |
| 3 Nov 2026 · Q2 FY27 revenue rises 10.7%, but net loss persists | investor communications | medium | — | — |
| 2 Nov 2026 · Board authorises senior managers to assess material company updates | compliance | minimal | — | — |
| 2 Nov 2026 · Board approves Sudhir Baxi re-appointment; September quarter loss widens | management changes | medium | — | — |
| 2 Nov 2026 · Consolidated quarter ended Sep 2026: revenue up 10.7% year-on-year, profit after tax loss widens | results | high | — | — |
| 2 Nov 2026 · Consolidated Sep 2026 quarter revenue Rs 598.76m vs Rs 540.75m a year ago; net loss Rs 54.01m | results | high | — | — |
| 28 Oct 2026 · Q2 and H1 FY27 earnings call scheduled for November 3, 2026 | board shareholder meetings | low | — | — |
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in