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.

Global Surfaces Limited announced its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results during a meeting held on May 25, 2026. 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.

For the financial year ended March 31, 2026, the company reported a consolidated net loss of ₹318.39 million, widening from the net loss of ₹289 million recorded in the previous year. Total consolidated income for the year stood at ₹2,549.37 million, up from ₹2,148.82 million in FY25. The company reported a loss per share of ₹7.18 for the year.

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 company noted that its Group has significant exposure to the U.S. market and faced challenges due to elevated tariffs on India-origin exports and geopolitical uncertainties in the Middle East and Red Sea region. These factors impacted demand, pricing, and margins. Additionally, 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.

Consolidated Financial Results (FY26)

Standalone Financial Results (FY26)

The trading window for the company's shares will open 48 hours after the declaration of the audited financial results. The statutory auditors, M/s. Ummed Jain & Co., issued an audit report with an unmodified opinion on the standalone and consolidated financial results.