Global Surfaces Ltd

Key financials and actions

• Subject: Re-submission of legible, machine-readable unaudited results for quarter ended June 30, 2026.
• Standalone revenue from operations: INR 221.32 million; total income 250.78 million.
• Standalone profit after tax: INR 25.36 million; EPS basic INR 0.60.
• Consolidated revenue from operations: INR 654.19 million; total income 656.11 million.
• Consolidated profit after tax: INR 0.64 million; total comprehensive income INR 0.32 million.
• Inter-company loan US$11.12 million converted into equity in Global Surfaces FZE; completed June 17, 2026.
• Further conversion approved of AED 3.0 million and USD 10.86 million into equity.
• No cash outflow; conversion reclassifies debt into equity.
• Bagru Unit discontinued; orderly closure from March 31, 2026; disposal plan under preparation.
• Subsidiaries for consolidation: Global Surfaces FZE (100%), Global Surfaces INC (99.90%), Superior Surfaces INC (50%).

Meeting Details

• Date/time: August 11, 2026, 2:00 PM IST.
• Type/Mode: earnings conference call; virtual audio conference.
• Event/organiser: Earnings Conference Call hosted by Global Surfaces Ltd.
• Key participants: Company Secretary and Compliance Officer.
• Purpose: Discuss Q1 FY27 financial and operational performance.
• Recording: Audio recording uploaded on company website.
• Transcript: Will be made available on website in due course and submitted to Exchanges.

Business Overview

• Engineered quartz surfaces constitute core business; natural stone plant discontinued March 31, 2026.
• Two manufacturing units: Jaipur SEZ, and Global Surfaces FZE in Dubai.
• Exclusive Marquartz license in MENA and FROR in India via SQIP/Veegoo.
• US presence via Global Surfaces Inc. and Superior Surfaces Inc.
• Total engineered quartz capacity: 11,44,540 SMT p.a.

Operational Highlights

• UAE ramp-up became largest revenue contributor in Q1 FY27.
• Domestic market expanded through dedicated sales team and broader dealer network.
• Operational resilience amid geopolitical disruptions; freight costs >2x normal levels.
• Consolidated break-even achieved in Q1 FY27 due to efficiencies.
• Natural Stone unit discontinued; orderly closure ongoing post March 31, 2026.
• Revenue mix shifting toward UAE and India; geographic diversification improving.

Financial Performance

• Q1-FY27 revenue: INR 654 Mn; EBITDA: INR 83 Mn; EBITDA margin: 12.69%.
• PAT: INR 0.6 Mn; diluted EPS: INR 0.04; YoY revenue down 12.2%.
• QoQ revenue grew 44.1% versus Q4 FY26; EBITDA margin up from 10.74% YoY.
• Expenses declined; break-even achieved despite lower sales volumes.
• UAE ramp-up supported improved geographic revenue mix.

Capital Structure & Liquidity

• No material debt/equity actions disclosed in this update.

Strategic Priorities & Outlook

• Focus on premium engineered quartz; export growth to developed markets.
• Marquartz license enhances access to MENA and FROR in India.
• Expand geographic footprint in UAE, US, and India; pursue AI-driven manufacturing.
• Sustainability and cost discipline to support margin resilience.
• Tariff tailwinds for Indian quartz exporters; monitor regulatory shifts.

Risks & Mitigation

• Freight costs elevated; geopolitical tensions could disrupt supply chains.
• Mitigated by diversified geographies and dual-shore manufacturing.
• Exports exposure to political disruptions; cost controls emphasized.

Governance & Leadership

• Board approved discontinuation of Natural Stone unit on Feb 3, 2026.

Corrigendum details

• Corrections due to clerical error for cost of materials consumed and changes in inventories.
• Corrected: cost of materials consumed 224.31m; changes in inventories 97.07m; total expenses 651.27m unchanged.

Foreign subsidiaries and consolidation

• Foreign subsidiary Global Surfaces FZE shows total income 407.73m, net loss after tax 30.57m.
• Total comprehensive loss for FZE: 30.89m; another foreign subsidiary reports income 12.9m, net loss 1.72m.

Capital actions and operational changes

• Intercompany loan of AED 3.0m and USD 10.857m converted into equity; no cash outflow.
• Bagru Unit operations discontinued; orderly closure from March 31, 2026 with asset disposal plan.

CFO transition

• Mayank Shah ceases CFO with effect Aug 10, 2026; remains Chairman & Managing Director.
• Ashish Agarwal appointed CFO, effective Aug 11, 2026.

Whole-time Director re-appointment

• Sweta Shah re-appointed Whole-time Director for 3 years (Sept 11, 2026–Sept 10, 2029).
• Sweta Shah is spouse of Mayank Shah; not debarred from director role.

Independent Director re-appointment

• Dr. Chandan Chowdhury re-appointed Independent Director for 2-year term (Oct 26, 2026–Oct 25, 2028).

Senior Management designation

• L. N. Bakshi designated as Senior Management Personnel, effective Aug 10, 2026.

Meeting Details

• Date and time: Aug 11, 2026 at 02:00 PM IST.
• Type and mode: Earnings Conference Call, virtual.
• Organizer: Valorem Advisors.

Participants

• Chairman & Managing Director.
• Head of Finance.
• Company Secretary & Compliance Officer.

Purpose

• Discuss Q1-FY27 earnings with analysts/investors.

Additional Notes

• Annexure-A contains the earnings call invite.
• Schedule hosted on Global Surfaces website.
• Virtual conference call with dial-in options.

Price movement clarification

• Company states all price-sensitive information disclosed under LODR; movement is market-driven.
• No material information/events have been withheld; company not connected to price movement.