Global Surfaces Limited held its 35th Annual General Meeting on September 19, 2026, where shareholders approved the audited financial statements for the fiscal year ended March 31, 2026. The company also re-appointed key board members and statutory auditors during the virtual session.

The meeting was chaired by Chairman and Managing Director Mayank Shah. A total of 51 members participated via video conference, comprising four promoters and 47 public shareholders. The quorum was present throughout the proceedings, which commenced at 11:00 am and concluded at 12:20 pm.

Key Resolutions Passed

Shareholders approved five resolutions during the meeting. The ordinary business included the adoption of standalone and consolidated financial statements for FY26. Members also appointed Mrs. Sweta Shah as a director in place of her retirement by rotation and fixed the remuneration for M/s. Ummed Jain & Co., Chartered Accountants, as statutory auditors.

Under special business, the shareholders re-appointed Dr. Chandan Chowdhury as a Non-Executive Independent Director and Mrs. Sweta Shah as Whole-time Director. Dr. Chowdhury was absent due to pre-occupation, with Mr. Sudhir Baxi representing the Nomination and Remuneration Committee.

Auditor Reports and Compliance

The Company Secretary informed members that there were no qualifications, observations, adverse remarks, or disclaimers in the Statutory Auditor’s Report or the Secretarial Audit Report for the financial year ended March 31, 2026. Representatives from Ummed Jain & Co. (Statutory Auditors) and Pinchaa & Co. (Secretarial Auditors) were present to address queries.

Remote e-voting commenced on September 16, 2026, and ended on September 18, 2026. Mr. Akshit Kumar Jangid served as the scrutinizer for the voting process. The consolidated results will be submitted to stock exchanges and hosted on the company website.

Global Surfaces has scheduled its 35th Annual General Meeting for September 19, 2026, at 11:00 am via video conferencing. The meeting will address the adoption of financial statements for FY26 and key governance resolutions.

The Board proposes the re-appointment of Dr. Chandan Chowdhury as Non-Executive Independent Director for a second term ending October 25, 2028. Additionally, shareholders will vote to re-appoint Mrs. Sweta Shah as Whole-time Director for three years until September 10, 2029.

Governance Resolutions

Dr. Chandan Chowdhury’s re-appointment follows a performance evaluation by the Nomination and Remuneration Committee. He brings expertise in strategic planning and operations management. His current term expires on October 25, 2026.

Mrs. Sweta Shah, spouse of Chairman and Managing Director Mr. Mayank Shah, will continue as Whole-time Director. Her remuneration includes a basic salary of ₹2,50,000 per month, with allowances and benefits detailed in the explanatory statement. The resolution seeks approval for remuneration that may exceed regulatory thresholds.

Auditor Appointment

The Company proposes appointing M/s Ummed Jain & Co., Chartered Accountants, as Statutory Auditors for five years. Their tenure will run from the conclusion of this AGM until the 40th AGM in 2031. The proposed fee for FY27 is ₹15,00,000 plus taxes.

Financial Context

Standalone revenue from operations fell to ₹748.36 million in FY26 from ₹1,419.12 million in FY25. This decline reflects the strategic shift of production to the UAE facility and the discontinuation of the Bagru unit. Despite lower revenue, Net Profit After Tax remained stable at ₹76.12 million, compared to ₹78.33 million in the prior year.

What the Numbers Show

Other income rose sharply to ₹373.93 million in FY26 from ₹228.86 million in FY25. This non-operating income constituted roughly 49% of total income, highlighting a significant reliance on sources outside core operations during a period of revenue contraction.

Voting Details

The cut-off date for voting eligibility is September 14, 2026. Remote e-voting opens on September 16, 2026, at 9:00 am and closes on September 18, 2026, at 5:00 pm. NSDL is the authorized agency for facilitating electronic voting.