Global Surfaces Limited

Global Surfaces Limited

25.09
INR
-0.88
(-3.39%)
-7.36EPS
1.78BMarket Cap
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
38.38
41.18
44.63
51.93
52.53
48.43
53.83
52.88
Basic EPS, GAAP
4.95
8.01
8.41
7.1
4.41
-6.73
-7.18
-7.04
Free Cash Flow per Basic Share
10.27
5.74
3.79
-25.6
-33.22
-8.47
4.35
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
15.22
23.23
31.63
61.66
77.98
71.34
63.84
- -
Tangible Book Value per Share
15.19
23.2
31.62
61.65
77.92
71.29
63.82
- -
Basic Weighted Avg Shares
42
42
42
34
42
42
42
42
Sales/Revenue/Turnover
1,627
1,745
1,891
1,773
2,226
2,053
2,281
2,242
Operating Margin (%)
14.66
20.1
16.4
14.72
11.69
-8.15
-13.02
-13.12
Depreciation Expense
169
130
108
94
89
187
184
185
Net Income, GAAP
210
339
356
242
187
-285
-304
-298
Effective Tax Rate (%)
- -
1.73
1.31
4.18
21.67
- -
- -
- -
Profit Margin (%)
12.89
19.44
18.84
13.67
8.4
-13.9
-13.34
-13.32
Working Capital
90
348
671
801
1,100
892
499
- -
LT Debt
140
71
529
647
988
997
978
- -
Total Equity
645
984
1,340
2,613
3,325
3,040
2,709
- -
Return on Invested Capital (%)
- -
26.26
18.49
7.79
4.5
- -
- -
- -
Return on Capital (%)
- -
28.59
21.39
8.3
4.55
- -
- -
- -
Return on Common Equity (%)
- -
41.66
30.66
12.26
6.32
-9.02
-10.62
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
1,178
- -
LT Borrowings
- -
473
- -
LT Finance Leases
- -
504
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
42
42
42
Market Capitalization
4,196
1,941
1,780

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
2,209
- -
Cash, Cash Equivalents & STI
- -
117
- -
Accounts Receivable, Net
- -
964
- -
Inventories
- -
874
- -
Total Current Liabilities
- -
1,710
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,178
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
27.78%
-10.89%
Free Cash Flow
- -
-168.47%
-151.41%
Net Income, GAAP
- -
-59.15%
6.63%
Sales/Revenue/Turnover
- -
6.2%
11.15%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
571
470
461
575
2,053
2026
745
541
593
454
2,281
2027
654
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
-0.29
-1.51
-2.45
-2.48
-6.73
2026
-0.1
-1.1
-0.71
-5.27
-7.18
2027
0.04
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -

Company Description

CEO
Mayank Shah
Full Time Employees
550
Sector
Non-energy minerals
Industry
Construction materials
Address
Plot No. PA-10-006 Jaipur RA India 302037
IPO Date
Mar 23, 2023
Business
Global Surfaces Limited engages in the processing and manufacturing of natural stones and engineered quartz products. The company’s core product portfolio includes granite, marble, limestone, slate, quartzite, onyx, sandstone, travertine, and other natural stones, alongside engineered quartz slabs. Its products serve applications such as flooring, wall cladding, countertops, and cut-to-size items used in both residential and commercial construction markets. The company operates production units in Rajasthan, India, including facilities at RIICO Industrial Area, Bagru Extn, and Mahindra World City SEZ, Jaipur. Its operational footprint extends globally with significant export sales to markets including the United States and the United Arab Emirates, which represent major revenue sources. Founded in 2004 and headquartered in Jaipur, Rajasthan, Global Surfaces Limited focuses on high-quality manufacturing and processing of its stone products, leveraging substantial production capacity and experienced leadership. Recent strategic developments include securing exclusive quartz manufacturing rights in the Middle East and North Africa (MENA) region through partnerships with SQIP, LLC, and Veegoo Technology, enhancing its engineered quartz product offerings and market reach. The company has also experienced management changes in 2025, including the appointment of Mayank Shah as Chief Financial Officer while retaining his role as Chairman. Operationally, the firm faces geographic and tariff challenges, notably exposure to US tariffs mitigated by manufacturing in Dubai through its subsidiary. Capital-raising efforts saw the forfeiture of substantial warrants in 2025, reflecting financial market activities in recent years. Global Surfaces Limited operates primarily in the natural stone and engineered quartz industry, targeting geographically diverse customers across domestic and international markets. The company’s products support construction and architectural applications requiring durable and aesthetic surface materials. With over two decades of industry presence, it emphasizes quality and innovation in its products, supported by export-driven revenue largely from the US and UAE markets. The firm’s key business segments include natural stone mining and processing, engineered quartz manufacturing, and international distribution channels, maintaining a global presence with a robust manufacturing base in India. Its recent strategic partnerships and executive appointments reflect a focus on expanding its engineered quartz segment and operational resilience in competitive global markets.