Global Surfaces Ltd
Incorporated in 2004, Global Surfaces Ltd
is in the business of manufacturing quartz
and processing of granite and marble[1]
- Market Cap ₹ 558 Cr.
- Current Price ₹ 132
- High / Low ₹ 192 / 84.7
- Stock P/E
- Book Value ₹ 69.9
- Dividend Yield 0.00 %
- ROCE -1.97 %
- ROE -9.08 %
- Face Value ₹ 10.0
Pros
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 4.90% over past five years.
- Company has a low return on equity of 1.75% over last 3 years.
- Earnings include an other income of Rs.14.9 Cr.
- Company has high debtors of 224 days.
- Working capital days have increased from 77.5 days to 144 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
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 163 | 176 | 190 | 178 | 225 | 208 | 232 | |
| 123 | 128 | 148 | 143 | 190 | 206 | 235 | |
| Operating Profit | 41 | 48 | 42 | 36 | 35 | 2 | -3 |
| OPM % | 25% | 27% | 22% | 20% | 16% | 1% | -1% |
| 2 | 3 | 8 | 3 | 4 | 7 | 15 | |
| Interest | 5 | 3 | 3 | 4 | 4 | 15 | 16 |
| Depreciation | 17 | 13 | 11 | 9 | 9 | 19 | 19 |
| Profit before tax | 21 | 35 | 36 | 25 | 25 | -25 | -23 |
| Tax % | -1% | 2% | 1% | 4% | 22% | 16% | |
| 21 | 34 | 36 | 24 | 20 | -29 | -27 | |
| EPS in Rs | 32.50 | 52.61 | 10.52 | 5.72 | 4.41 | -6.73 | -6.13 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 3% |
| TTM: | -8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | -521% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 2% |
| Last Year: | -9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 34 | 42 | 42 | 42 | 42 |
| Reserves | 58 | 92 | 100 | 219 | 288 | 260 | 254 |
| 54 | 38 | 79 | 166 | 145 | 199 | 212 | |
| 11 | 22 | 23 | 35 | 47 | 56 | 65 | |
| Total Liabilities | 129 | 159 | 236 | 462 | 522 | 558 | 573 |
| 60 | 54 | 88 | 89 | 294 | 286 | 289 | |
| CWIP | 0 | 1 | 7 | 124 | 0 | 0 | 0 |
| Investments | 0 | 0 | 11 | 6 | 0 | 0 | 0 |
| 69 | 104 | 131 | 244 | 227 | 271 | 283 | |
| Total Assets | 129 | 159 | 236 | 462 | 522 | 558 | 573 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 54 | 32 | 28 | 27 | -37 | -31 | |
| -11 | -8 | -28 | -205 | 9 | -6 | |
| -46 | -19 | -3 | 183 | 24 | 37 | |
| Net Cash Flow | -3 | 5 | -3 | 4 | -4 | 0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 63 | 83 | 75 | 90 | 178 | 224 |
| Inventory Days | 126 | 170 | 198 | 190 | 236 | 342 |
| Days Payable | 42 | 81 | 79 | 70 | 119 | 166 |
| Cash Conversion Cycle | 147 | 172 | 193 | 210 | 295 | 400 |
| Working Capital Days | 106 | 123 | 103 | -80 | 169 | 144 |
| ROCE % | 30% | 21% | 9% | 7% | -2% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Management
1d - VP-Operations & Strategy G V N S K Chaitanya resigns; relief effective Dec 17, 2025; resignation letter enclosed.;
-
Announcement under Regulation 30 (LODR)-Investor Presentation
2d - Earnings Presentation on Unaudited Financial Results for the Quarter and half year ended September 30, 2025.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Nov - Newspaper Clippings of the advertisement published for the extract of Unaudited Financial Results for the quarter and half year ended on September 30, 2025 in …
-
Announcement under Regulation 30 (LODR)-Resignation of Statutory Auditors
13 Nov - B. Khosla & Co. resigned as statutory auditor of Global Surfaces Ltd. and subsidiary, effective November 13, 2025.
-
Standalone And Consolidated Financial Results For The Quarter And Half Year Ended On September 30, 2025
13 Nov - Approved unaudited Q2/H1 results for Sep 30, 2025; statutory auditor resigned; limited review Nov 13, 2025.
Business Overview:[1][2]
GSL is in the business of mining, production, and export of natural stones and engineered quartz. It offers a wide range of products and stones like - granite, marble, soft quartzite, soapstone, and phyllite in slab and countertops customized according to different sizes, shapes, forms, and colors