Global Surfaces Limited reported a consolidated net loss of ₹318.39 million for the financial year ended March 31, 2026, widened from a net loss of ₹289 million in the previous year. The company faced significant challenges due to elevated tariffs on India-origin exports and geopolitical uncertainties in the Middle East and Red Sea region, which impacted demand, pricing, and margins. Operations were affected by approximately 45 days of disruption arising from the ongoing regional conflict situation. The Board of Directors approved the audited results during a meeting held on May 25, 2026, and the company submitted its earnings presentation for Q4 FY2025-26 to the exchanges on June 3, 2026.

Total consolidated income for FY26 stood at ₹2,549.37 million, up from ₹2,148.82 million in FY25, while total expenses rose to ₹2,779.39 million from ₹2,398.10 million. The company reported a loss per share of ₹7.18 for the year. In Q4FY26, the net loss was ₹234 million compared to a net loss of ₹110 million in the same period last year. Revenue from operations for Q4FY26 was ₹454 million, a decrease of 21% year-over-year from ₹575 million in Q4FY25.

On a standalone basis, the company returned to profitability with a net profit of ₹76.12 million for FY26, compared to a net profit of ₹78.33 million in the previous year. Total standalone income decreased to ₹1,122.29 million from ₹1,647.98 million in the prior year. The earnings per share for the year were recorded at ₹1.80. The statutory auditors, M/s. Ummed Jain & Co., issued an audit report with an unmodified opinion on the standalone and consolidated financial results.

The Board approved the discontinuation of operations at the Bagru Unit (natural stone processing) with effect from March 31, 2026, due to sustained losses and capacity under-utilisation. The Board has granted in-principle approval for a disposal plan for the unit. Post-discontinuation, the company is undertaking limited activities for the orderly closure, including execution of pending orders and settlement of obligations. The company also approved the re-appointment of M/s. NLA & Associates as Internal Auditor and recommended the re-designation of Mr. Yashwant Kumar Sharma from Non-Executive Independent Director to Non-Executive Non-Independent Director effective July 1, 2026, subject to shareholder approval.

Consolidated Financial Results (FY26)

Standalone Financial Results (FY26)

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0JSX01015/b18507e31f054553.pdf

Global Surfaces Limited has published the advertisement for its postal ballot notice in newspapers, seeking shareholder approval for the appointment of a new director, the redesignation of an existing independent director, and material related party transactions with its subsidiaries. The notice was published in the Financial Express (All India Edition) and Business Remedies (Jaipur) on Wednesday, May 27, 2026. The remote e-voting period is scheduled from May 27, 2026, at 09:00 A.M. IST to June 25, 2026, at 05:00 P.M. IST, facilitated by National Securities Depository Limited (NSDL).

Resolutions for Shareholder Approval

The postal ballot notice outlines four key resolutions requiring shareholder consent. The first resolution seeks the appointment of Mr. Rakesh Grover as a Non-Executive Independent Director for a period of two years effective from March 30, 2026. The second resolution proposes the redesignation of Mr. Yashwant Kumar Sharma from a Non-Executive Independent Director to a Non-Executive Non-Independent Director, effective July 1, 2026.

Related Party Transactions

Shareholders are also asked to approve material related party transactions for the financial year 2026-27. These transactions involve the sale of goods, trade advances, management fees, and the reimbursement of expenses between the company, its wholly owned subsidiary Global Surfaces FZE, and related parties Global Surfaces Inc. and Superior Surfaces Inc. The proposed transaction values exceed the materiality threshold of 10% of the company's annual consolidated turnover for the previous financial year.

E-Voting and Scrutiny Details

Mr. Akshit Kumar Jangid, Partner of M/s Pinchaa & Co., Company Secretaries, has been appointed as the Scrutinizer to ensure the fair conduct of the postal ballot. The cut-off date for determining shareholder eligibility is May 22, 2026. Results of the postal ballot will be declared upon receipt of the Scrutinizer's report and will be communicated to the stock exchanges and displayed on the company's website.