Global Surfaces Reports Narrower Q1 Loss Amid Revenue Growth

Global Surfaces Limited , a manufacturer of natural stone and engineered quartz surfaces, has reported a consolidated net loss of 5.72 million rupees in the first quarter, showing an improvement from the 12.62 million rupees loss recorded in the same period last year. The company's financial performance demonstrates resilience in a challenging market environment.

Revenue Growth

The company's revenue saw a significant increase, rising to 745.04 million rupees compared to 571.48 million rupees in the corresponding quarter of the previous year. This represents a year-on-year growth of approximately 30.37%, indicating strong demand for Global Surfaces' products.

Financial Performance

According to the unaudited consolidated financial results approved by the company's Board of Directors on August 14, Global Surfaces reported:

Particulars (in Million Rupees)	Q1 FY2026	Q1 FY2025	% Change
Revenue from Operations	745.04	571.48	+30.37%
Total Income	747.30	578.41	+29.20%
Total Expenses	746.13	575.87	+29.57%
Profit/(Loss) Before Tax	1.17	2.54	-53.94%
Loss after Tax	(5.72)	(12.62)	+54.68%

Segment Performance

Global Surfaces operates in three main geographical segments:

India
United States of America
United Arab Emirates

The company's segment results for Q1 FY2026 are as follows:

Segment	Revenue (Million Rupees)	Result (Million Rupees)
India	281.49	21.14
United States of America	147.51	(1.04)
United Arab Emirates	439.84	(23.13)

Market Exposure and Challenges

Global Surfaces acknowledges its significant exposure to the U.S. market, with a substantial portion of its revenue derived from customers based in the United States. The company faces challenges due to recent policy developments, including elevated tariffs on U.S.-bound goods originating from India. These factors have introduced uncertainty regarding the company's future business outlook and profitability.

Mitigation Strategies

To address these challenges, Global Surfaces is leveraging its multi-shore manufacturing capabilities. The company's facility in Jebel Ali Free Zone, Dubai, which is subject to comparatively lower tariffs, provides strategic flexibility to mitigate potential effects through operational realignment.

Looking Ahead

While the narrowing losses and revenue growth are positive indicators, Global Surfaces continues to monitor the situation closely. The company is actively evaluating mitigation strategies to safeguard its interests and ensure business continuity and profitability in the face of evolving global trade dynamics.

Global Surfaces Limited remains committed to navigating the challenges in the international market while capitalizing on growth opportunities across its diverse geographical segments.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-7.42%	+13.96%	+5.30%	-14.27%	-44.06%	-39.28%

Global Surfaces Limited (GSL) has announced a significant change in the auditing landscape of its wholly owned material subsidiary, Global Surfaces FZE (GSFZE), located in the Jebel Ali Free Zone (JAFZA), United Arab Emirates. The company has appointed a new statutory auditor for its UAE-based subsidiary, marking a transition in its financial oversight.

Change in Auditors

At the Annual General Meeting held on August 5, 2025, GSFZE saw the completion of tenure for its existing statutory auditors, M/s. Coast Accounting & Auditing (JAFZA Reg. No.: 174). Following this, the shareholder of GSFZE approved the appointment of M/s. Unity Auditing and Management Consultants (JAFZA Reg. No.: 228) as the new statutory auditors for the Financial Year 2025-26.

New Auditor's Profile

Unity Auditing and Management Consultants comes with strong credentials. They are a JAFZA-approved audit firm and hold a valid license issued by the UAE Ministry of Economy to practice as statutory auditors in the Jebel Ali Free Zone. This appointment ensures that GSFZE continues to maintain compliance with local regulatory requirements.

Terms of Appointment

The new auditors will hold office until the conclusion of the next Annual General Meeting of GSFZE. This appointment is in accordance with the applicable provisions governing companies incorporated in JAFZA and aligns with the Memorandum and Articles of Association of GSFZE.

Regulatory Compliance

Global Surfaces Limited has made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015. The company has provided detailed disclosures as mandated by SEBI circulars, ensuring transparency in the change of auditors for its material subsidiary.

Impact and Outlook

While the change in auditors is a routine corporate governance matter, it reflects Global Surfaces Limited's commitment to maintaining high standards of financial reporting and compliance across its subsidiaries. The appointment of Unity Auditing and Management Consultants is expected to bring fresh perspectives to the auditing process of GSFZE.

As Global Surfaces Limited continues to manage its international operations, this change in auditors for its UAE subsidiary underscores the company's focus on adhering to both local and international regulatory standards. Shareholders and stakeholders can view this transition as part of the company's ongoing efforts to ensure robust financial oversight and transparency in its global operations.