Global Surfaces Ltd

Global Surfaces Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Global Surfaces Ltd

₹ 84.7 5.00%
20 Feb - close price
globalsurfaces.in BSE: 543829 NSE: GSLSU
About

Incorporated in 2004, Global Surfaces Ltd
is in the business of manufacturing quartz
and processing of granite and marble[1]

Key Points

Business Profile[1]
Global Surfaces Limited (GSL), established in 1991 and headquartered in Jaipur, is engaged in the manufacturing and export of engineered quartz and natural stones. The company operates 2 manufacturing plants in India and 1 in UAE.

Website BSE NSE - BE
  • Market Cap ₹ 359 Cr.
  • Current Price ₹ 84.7
  • High / Low ₹ 145 / 79.0
  • Stock P/E 130
  • Book Value ₹ 81.5
  • Dividend Yield 0.00 %
  • ROCE 4.27 %
  • ROE 2.30 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 1.04 times its book value

Cons

  • 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.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Granites & Marbles

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
40.36 39.11 38.82 38.41 40.47 44.43 42.60 36.95 32.77 29.60 28.15 16.51 10.22
32.10 31.71 32.03 33.00 34.85 40.76 37.03 35.52 36.07 33.75 27.51 21.09 13.36
Operating Profit 8.26 7.40 6.79 5.41 5.62 3.67 5.57 1.43 -3.30 -4.15 0.64 -4.58 -3.14
OPM % 20.47% 18.92% 17.49% 14.08% 13.89% 8.26% 13.08% 3.87% -10.07% -14.02% 2.27% -27.74% -30.72%
1.08 1.35 2.87 4.92 3.28 3.88 4.65 5.41 9.75 3.08 3.60 13.37 6.09
Interest 0.82 0.81 0.87 0.99 0.72 0.97 0.91 0.91 0.92 1.81 1.01 0.92 0.83
Depreciation 2.68 2.32 1.68 1.75 1.80 1.87 1.45 1.50 1.51 1.56 1.11 1.17 1.17
Profit before tax 5.84 5.62 7.11 7.59 6.38 4.71 7.86 4.43 4.02 -4.44 2.12 6.70 0.95
Tax % 3.77% 2.49% 19.69% 24.90% 15.99% 8.70% 18.96% 23.25% 45.77% -7.21% 30.66% 26.57% 49.47%
5.62 5.48 5.71 5.70 5.37 4.29 6.37 3.40 2.18 -4.11 1.46 4.93 0.49
EPS in Rs 1.66 1.29 1.35 1.34 1.27 1.01 1.50 0.80 0.51 -0.97 0.34 1.16 0.12
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
72.01 136.01 162.66 174.89 189.37 177.03 162.14 141.91 84.48
65.43 103.87 122.65 128.02 148.35 142.56 140.66 142.36 95.71
Operating Profit 6.58 32.14 40.01 46.87 41.02 34.47 21.48 -0.45 -11.23
OPM % 9.14% 23.63% 24.60% 26.80% 21.66% 19.47% 13.25% -0.32% -13.29%
1.62 0.99 3.06 3.82 8.57 4.43 14.95 22.89 26.14
Interest 2.65 5.84 5.20 3.41 2.95 3.50 3.54 4.54 4.57
Depreciation 3.40 12.02 16.86 13.01 10.78 9.36 7.10 6.02 5.01
Profit before tax 2.15 15.27 21.01 34.27 35.86 26.04 25.79 11.88 5.33
Tax % 35.35% 13.75% -8.28% 1.58% 1.12% 3.69% 18.34% 34.01%
1.38 13.17 22.75 33.73 35.46 25.07 21.06 7.83 2.77
EPS in Rs 2.19 20.42 35.27 52.30 10.47 5.92 4.97 1.85 0.65
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: -3%
3 Years: -9%
TTM: -46%
Compounded Profit Growth
10 Years: %
5 Years: -19%
3 Years: -39%
TTM: -83%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -21%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 6%
Last Year: 2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 6.29 6.45 6.45 6.45 33.86 42.38 42.38 42.38 42.38
Reserves 21.74 35.76 58.51 91.78 99.78 217.94 289.09 296.93 303.05
67.58 90.98 53.49 38.13 37.95 44.03 41.69 49.94 46.48
17.66 18.83 10.15 22.00 22.67 20.48 25.84 28.20 21.96
Total Liabilities 113.27 152.02 128.60 158.36 194.26 324.83 399.00 417.45 413.87
26.50 65.73 59.84 53.50 47.86 47.28 43.30 38.81 37.42
CWIP 36.81 0.22 0.00 1.29 5.58 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.07 12.19 25.92 21.23 21.25 21.26
49.96 86.07 68.76 103.50 128.63 251.63 334.47 357.39 355.19
Total Assets 113.27 152.02 128.60 158.36 194.26 324.83 399.00 417.45 413.87

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
13.28 4.66 51.89 31.32 27.55 25.37 3.48 3.84
-48.84 -19.57 -10.00 -7.96 -28.30 -124.44 -53.28 -6.37
34.87 17.47 -44.41 -19.31 -3.45 104.60 44.06 3.39
Net Cash Flow -0.69 2.56 -2.52 4.05 -4.20 5.52 -5.75 0.86

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 135.69 121.25 63.62 84.07 75.50 91.81 125.59 147.53
Inventory Days 144.23 138.21 121.09 175.90 197.51 190.04 247.67 225.30
Days Payable 107.00 78.27 38.45 81.48 77.89 68.65 107.51 112.07
Cash Conversion Cycle 172.92 181.19 146.25 178.49 195.12 213.20 265.75 260.76
Working Capital Days 10.04 37.14 22.13 60.92 107.40 91.67 157.49 162.66
ROCE % 18.76% 20.81% 29.48% 23.65% 12.39% 8.65% 4.27%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
73.37% 73.37% 73.37% 73.37% 73.37% 73.37% 73.26% 73.25% 73.25% 73.25% 73.25% 73.25%
7.49% 4.85% 1.71% 2.34% 2.11% 1.89% 1.53% 1.53% 1.67% 0.57% 0.76% 1.60%
1.02% 0.45% 0.62% 0.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.13%
18.13% 21.32% 24.29% 23.85% 24.52% 24.75% 25.22% 25.24% 25.08% 26.20% 25.98% 25.02%
No. of Shareholders 13,03711,57812,35713,60312,89413,51914,34314,80014,66814,82515,61214,793

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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