Global Surfaces Ltd.
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ABOUT
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 2.9% over last 3 years
- Company has a low return on capital employed of 5.2%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -2.74x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1225.80 | 35.29 | 19262.60 | 1.14 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5571.05 | 29.21 | 7185.28 | 1.35 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1015.80 | 33.08 | 3673.22 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 807.75 | 26.39 | 2504.35 | 0.07 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 93.59 | 0.00 | 2363.86 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 564.05 | 21.75 | 2313.33 | 1.06 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.40 | 118.57 | 1494.24 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 401.90 | 28.00 | 591.41 | 0.25 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.36 | 69.49 | 284.55 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 29.76 | 18.61 | 180.18 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 28.45 | 13.18 | 120.58 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| PACIFICI | 140.00 | 35.05 | 96.50 | 0.00 | 1.69 | 82.31 | 63.92 | 28.72 | 1.09 | 4.45 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 36 | 40 | 40 | 109 | 57 | 47 | 46 | 57 | 74 | 54 | 59 | 45 | 65 | |
| 31 | 33 | 33 | 92 | 50 | 45 | 51 | 59 | 67 | 58 | 56 | 64 | 65 | |
| Operating Profit | 5 | 7 | 7 | 16 | 7 | 2 | -5 | -2 | 8 | -4 | 3 | -19 | 0 |
| OPM % | 14.41% | 16.90% | 16.80% | 14.91% | 13.04% | 3.68% | -11.53% | -3.36% | 10.67% | -6.56% | 5.48% | -41.84% | 0.45% |
| 1 | 2 | 1 | -0 | 1 | 1 | 5 | 0 | 0 | 9 | 2 | 10 | 0 | |
| Interest | 1 | 1 | 1 | 1 | 3 | 3 | 4 | 5 | 4 | 4 | 4 | 4 | 4 |
| Depreciation | 2 | 2 | 2 | 4 | 5 | 5 | 5 | 5 | 4 | 5 | 5 | 5 | 4 |
| Profit before Tax | 4 | 6 | 4 | 11 | 0 | -5 | -9 | -11 | 0 | -3 | -3 | -17 | 0 |
| Tax % | 40.76% | 39.89% | 24.22% | 5.74% | 608.00% | -24.25% | -18.95% | 3.67% | 575.00% | -64.03% | -14.78% | -34.14% | 86.78% |
| Net Profit | 0 | 0 | 0 | 0 | -1 | -6 | -10 | -11 | -1 | -5 | -3 | -23 | 0 |
| 0.51 | 0.64 | 0.77 | 2.48 | -0.29 | -1.51 | -2.45 | -2.48 | -0.10 | -1.10 | -0.71 | -5.27 | 0.04 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 163 | 175 | 190 | 178 | 225 | 208 | 224 | |
| 123 | 128 | 149 | 143 | 190 | 206 | 243 | |
| Operating Profit | 40 | 47 | 42 | 36 | 35 | 2 | -19 |
| OPM % | 24.69% | 26.98% | 21.97% | 19.94% | 15.52% | 0.93% | -8.48% |
| 2 | 4 | 8 | 3 | 4 | 7 | 22 | |
| Interest | 5 | 3 | 3 | 4 | 5 | 15 | 15 |
| Depreciation | 17 | 13 | 11 | 9 | 9 | 19 | 18 |
| Profit before Tax | 21 | 35 | 36 | 25 | 25 | -25 | -23 |
| Tax % | -1.17% | 1.73% | 1.31% | 4.18% | 21.67% | -15.93% | -37.90% |
| Net Profit | 21 | 34 | 36 | 24 | 20 | -29 | -31 |
| EPS | 6.19 | 10.02 | 10.52 | 7.10 | 4.41 | -6.73 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- 5%
- 3 Years:
- 3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -46%
- 1 Year:
- -73%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 16%
- 3 Years:
- 3%
- Last Year:
- -11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 34 | 42 | 42 | 42 |
| Minority Interest | 0 | 0 | 0 | 0 | 2 | 2 |
| 58 | 92 | 100 | 219 | 238 | 210 | |
| 54 | 38 | 79 | 166 | 137 | 175 | |
| Trade Payables | 8 | 16 | 19 | 16 | 39 | 46 |
| -4 | -6 | -14 | -3 | 42 | 62 | |
| Total Liabilities | 122 | 147 | 218 | 440 | 500 | 538 |
| 60 | 54 | 88 | 89 | 294 | 286 | |
| Capital Work in Progress | 0 | 1 | 7 | 124 | 0 | 0 |
| 0 | 0 | 11 | 6 | 0 | 0 | |
| 24 | 35 | 47 | 44 | 77 | 95 | |
| 0 | 0 | 0 | 0 | 110 | 128 | |
| Cash & Bank | 1 | 7 | 3 | 114 | 5 | 7 |
| 37 | 51 | 63 | 65 | 14 | 22 | |
| Total Assets | 122 | 147 | 218 | 440 | 500 | 538 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 57 | 36 | 36 | 35 | -37 | -31 | |
| Cash from Investing | -11 | -8 | -28 | -205 | 9 | -6 |
| Cash from Financing | -46 | -19 | -3 | 183 | 24 | 37 |
| -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 | |
|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-01 - Global Surfaces Limited has informed the Exchange about Credit Rating- Revision
2026-08-27 - Global Surfaces Limited has informed the Exchange about Copy of Newspaper Publication of Notice of 35th AGM
2026-08-26 - Global Surfaces Limited has informed the Exchange regarding 'General Update - Letter being dispatched to Shareholders'.
2026-08-26 - Global Surfaces Limited has informed the Exchange regarding Notice of 35th Annual General Meeting to be held on September 19, 2026
2026-08-20 - Global Surfaces Limited has informed the Exchange regarding 'Legible copy of Financial Results for the quarter ended June 30, 2026'.
2026-08-18 - Global Surfaces Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Global Surfaces Limited has informed the Exchange about Transcript
2026-08-12 - Global Surfaces Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-11 - Global Surfaces Limited has informed the Exchange about Link of Recording
News
Recent coverage and analyst commentary for GSLSU
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Global Surfaces Ltd.
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