Global Surfaces Ltd
NSE: GSLSU BSE: 543829
Incorporated in 2004, Global Surfaces Ltd is in the business of manufacturing quartz and processing of granite and marble[1]
₹55.9
52W: ₹43.7 — ₹145
PE 85.5 · Book ₹81.5 · -31% vs bookMarket Cap₹237 Cr
Stock P/E85.5Price to Earnings
ROCE4.27%Return on Capital
ROE2.3%Return on Equity
Div. Yield0%Face Value ₹10
Strengths
- +Stock is trading at 0.69 times its book value
Weaknesses
- −Though the company is reporting repeated profits, it is not paying out dividend
- −The company has delivered a poor sales growth of -2.69% over past five years.
- −Company has a low return on equity of 6.49% over last 3 years.
- −Contingent liabilities of Rs.163 Cr.
- −Earnings include an other income of Rs.26.1 Cr.
- −Debtor days have increased from 122 to 148 days.
Shareholding Pattern
Promoters73.25%
FIIs1.59%
DIIs0%
Public25.15%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 73.37% | 73.26%▼0.1 | 73.25%▼0.0 | 73.25% | 73.25% | 73.25% | 73.25% | 73.25% |
| FIIs | 1.89% | 1.53%▼0.4 | 1.53% | 1.67%▲0.1 | 0.57%▼1.1 | 0.76%▲0.2 | 1.6%▲0.8 | 1.59%▼0.0 |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0.13%▲0.1 | 0%▼0.1 |
| Public | 24.75% | 25.22%▲0.5 | 25.24%▲0.0 | 25.08%▼0.2 | 26.2%▲1.1 | 25.98%▼0.2 | 25.02%▼1.0 | 25.15%▲0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 38.41 | 40.47 | 44.43 | 42.6 | 36.95 | 32.77 | 29.6 | 28.15 | 16.51 | 10.22 |
| Expenses | 33 | 34.85 | 40.76 | 37.03 | 35.52 | 36.07 | 33.75 | 27.51 | 21.09 | 13.36 |
| Operating Profit | 5.41 | 5.62 | 3.67 | 5.57 | 1.43 | -3.3 | -4.15 | 0.64 | -4.58 | -3.14 |
| OPM % | 14.08% | 13.89% | 8.26% | 13.08% | 3.87% | -10.07% | -14.02% | 2.27% | -27.74% | -30.72% |
| Net Profit | 5.7 | 5.37 | 4.29 | 6.37 | 3.4 | 2.18 | -4.11 | 1.46 | 4.93 | 0.49 |
| EPS ₹ | 1.34 | 1.27 | 1.01 | 1.5 | 0.8 | 0.51 | -0.97 | 0.34 | 1.16 | 0.12 |
AI Insights
Revenue Trend
TTM revenue at ₹84.48Cr, down 40.5% YoY. OPM at -13.29%.
Debt Position
Borrowings at ₹46.48Cr. Debt-to-equity ratio: 0.15x. Healthy balance sheet.
Institutional Flow
DIIs: 0% (-0.45pp change). FIIs: 1.59% (-3.26pp change). Promoters hold 73.25%.
Margin & Efficiency
ROCE improving from 0% (Mar 2018) to 4.27% (Mar 2025). Working capital days: 162.66.
Valuation
PE 85.5x with 4.27% ROCE. Price is -31% above book value of ₹81.5. Dividend yield: 0%.
Recent Announcements
- Board Meeting Intimation for Approval Of Audited Standalone And Consolidated Financial Results And Statements Of The Company For The Quarter And Financial Year Ended On March 31, 2026 2d - Board meeting on May 25, 2026 to approve FY26 audited standalone and consolidated results; trading window closed until 48 hours after declaration.
- Disclosure Under Regulation 10(7) Of SEBI (SAST) Regulations, 2011 13 Apr - Vatsankit Shah acquired 8,45,906 shares, 2% stake, via inter-se transfer from trust.
- Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011 13 Apr
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Apr - Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
- Demand Notice From Income Tax Department 31 Mar - Assessment order dated March 31, 2026; ₹37,48,89,740 demand for AY 2023-24.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse