Global Surfaces Limited has released its comprehensive investor presentation for March 2026, providing stakeholders with detailed insights into the company's operational capabilities, financial performance, and strategic growth initiatives in the natural and engineered stone segments.

Company Overview and Manufacturing Capabilities

Established in 1991 and headquartered in Jaipur, India, Global Surfaces Limited specializes in the production and export of natural stones and engineered quartz products. The company operates under the leadership of Managing Director and Chairperson Mr. Mayank Shah, who brings more than two decades of experience in the stones industry.

The company's manufacturing infrastructure spans three facilities with substantial production capacity:

Financial Performance Overview

The presentation reveals the company's financial trajectory over recent periods, showing mixed performance across different metrics. For 9M-FY26, Global Surfaces reported revenue from operations of INR 1,878 million with EBITDA margins of 4.05%.

The segmental revenue breakdown for 9M-FY26 shows engineered stones contributing 94% of total revenue, while natural stones account for 6% of the business mix.

Strategic Technology Partnership

A significant highlight of the presentation is the company's exclusive licensing agreement for Marquartz technology. Global Surfaces FZE entered into a License Agreement on July 10, 2024, with SQIP, LLC (Florida-based company) and Veegoo Technology Co. Ltd. (Chinese company) to develop, produce, and manufacture licensed engineered quartz stones using exclusive patented technologies.

This partnership grants Global Surfaces non-transferable, non-sublicensable, and exclusive rights to use Licensed Patents in the Middle East and North Africa (MENA) region and First Right of Refusal (FROR) in India. The Marquartz product utilizes patented Non-Push-Up Vein Technology and Push-Up Vein Technology, employing proprietary RIFT VEIN™ TECHNOLOGY and CONVERGENCE™ TECHNOLOGY.

Global Operations and Market Presence

The company has established a strong international presence through strategic subsidiaries:

• Global Surfaces FZE (UAE): Wholly owned subsidiary operating a state-of-the-art manufacturing facility in Jebel Ali Free Zone, Dubai
• Global Surfaces Inc. (USA): Engaged in purchase, sale, supply, and distribution of stone products in US markets
• Superior Surfaces Inc. (USA): Focused on distribution of quartz, marbles, granites, and engineered quartz

The Dubai facility offers significant advantages including proximity to Jebel Ali Port for optimized freight costs, Free Trade Zone benefits with income tax exemption, and strategic positioning to serve the growing MENA market demand.

Market Outlook and Growth Drivers

The presentation outlines several key growth drivers supporting the company's expansion strategy:

• Rising demand for aesthetic and durable surfaces in luxury residential and commercial spaces
• Urbanization and infrastructure growth driving real estate expansion
• Strong growth in export markets with increasing opportunities for Indian manufacturers
• Technological advancements enabling customized manufacturing and better quality control

The global engineered stone market reached USD 27.6 billion in 2024 and is expected to reach USD 35.5 billion by 2029, exhibiting a CAGR of 4.8%. The Indian engineered stone market, valued at USD 3.6 billion in 2022, is projected to grow at 7-8% CAGR between 2022 and 2027.

Balance Sheet Position

As of H1-FY26, the company maintains total assets of INR 5,728 million with total equity of INR 2,981 million. The current assets include inventories of INR 950 million and trade receivables of INR 1,295 million, while current liabilities stand at INR 1,750 million.

The presentation demonstrates Global Surfaces Limited's comprehensive approach to capturing growth opportunities in both engineered and natural stone segments through strategic manufacturing expansion, technology partnerships, and international market development.

Source: None/Company/INE0JSX01015/1a3692bf-a2b0-4383-bf48-f57d8fd0a689.pdf

Global Surfaces Limited has received prior intimation from Vatsankit Shah, a promoter group member, regarding the proposed acquisition of equity shares through trust dissolution. The transaction involves the transfer of 8,45,906 equity shares representing 2.00% of the company's paid-up share capital from M/s. Vatsankit Shah Trust to Vatsankit Shah as part of the trust's dissolution process.

Regulatory Filing Details

The company has filed the necessary intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with both BSE Limited and National Stock Exchange of India Limited. The formal documentation was submitted on March 12, 2026, by Company Secretary & Compliance Officer Dharam Singh Rathore.

Transaction Details

The proposed share transfer is structured as follows:

Regulatory Compliance

The transaction falls under the exemption provisions of Regulation 10(1)(a)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as it constitutes an inter-se transfer among members of the promoter group. Vatsankit Shah has filed the necessary disclosure under Regulation 10(5) with both stock exchanges, confirming compliance with all applicable disclosure requirements.

Trust Background and Rationale

M/s. Vatsankit Shah Trust was originally created for the benefit of Vatsankit Shah during his minority, with Mayank Shah and Sweta Shah acting as trustees. Following Vatsankit Shah attaining majority and in accordance with the trust deed terms, the trust is being dissolved. As the sole beneficiary, Vatsankit Shah will receive the trust assets, including the equity shares of Global Surfaces Limited.

Shareholding Impact

The transaction will not alter the overall promoter and promoter group shareholding structure:

The largest individual shareholding remains with Mayank Shah at 2,35,06,368 shares (55.46%), followed by Mayank Shah HUF with 28,92,488 shares (6.82%) and Sweta Shah with 23,99,000 shares (5.66%).

Family Relationship

Vatsankit Shah is the immediate relative (son) of Mayank Shah, who is a promoter of Global Surfaces Limited. This family relationship further supports the classification of the transaction as an inter-se transfer within the promoter group, ensuring compliance with regulatory requirements while maintaining the existing ownership structure of the company.