Global Surfaces Ltd (GSLSU) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543829 | NSE: GSLSU | Ceramics/Marble/Granite/Sanitaryware | Small Cap

Global Surfaces Share Price

108.25 -5.65 -4.96%
as on 05-Dec'25 13:36

Global Surfaces Ltd (GSLSU) Stock Analysis: Valuation, Latest Results, Financial Ratios & DeciZen Rating

BSE: 543829 | NSE: GSLSU | Ceramics/Marble/Granite/Sanitaryware | Small Cap

DeciZen - make an informed investing decision on Global Surfaces

Based on:

Overall Rating
Login to view analysis. M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality


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2. Valuation


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3. Price Trend


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Global Surfaces stock performance -

Key Ratios
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P/E Ratio (SA):
108.33
Market Cap:
482.7 Cr.
52-wk low:
85
52-wk high:
190

Is Global Surfaces Ltd an attractive stock to invest in?


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10 Year X-Ray of Global Surfaces: Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Global Surfaces Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 15.9%20.8%29.7%25.3%12.4%8.7%4.3%-
Value Creation
Index
0.10.51.10.8-0.1-0.4-0.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 136163175189177162142107
Sales YoY Gr.-19.6%7.5%8.3%-6.5%-8.4%-12.5%-
Adj EPS 4.36.49.49.15.74.30.51.1
YoY Gr.-51.2%45.7%-3.1%-37%-24.6%-87.7%-
BVPS (₹) 12.519.22939.561.466.468.381.5
Adj Net
Profit
14.421.831.830.824.318.32.24
Cash Flow from Ops. 4.751.931.327.625.43.53.8-
Debt/CF from Ops. 19.511.21.41.711.912.8-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA-2.7%-9.2%-12.5%
Adj EPS NA-39.3%-61.2%-87.7%
BVPSNA28.9%20.1%2.8%
Share Price - - - -41.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
34.240.738.926.512.36.20.71.4
Op. Profit
Mgn %
24.724.626.821.719.513.3-0.3-10.7
Net Profit
Mgn %
10.613.418.216.313.711.31.64.2
Debt to
Equity
2.20.80.40.30.20.20.20
Working Cap
Days
0163157188234483834286
Cash Conv.
Cycle
0111102116136172212139

Recent Performance Summary

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Latest Financials - Global Surfaces Ltd.

Standalone Consolidated
TTM EPS (₹) 1.1 -6.1
TTM Sales (₹ Cr.) 107 232
BVPS (₹.) 81.5 69.9
Reserves (₹ Cr.) 303 254
P/BV 1.40 1.63
PE 108.33 0.00
From the Market
52 Week Low / High (₹) 85.00 / 190.00
All Time Low / High (₹) 85.00 / 331.55
Market Cap (₹ Cr.) 483
Equity (₹ Cr.) 42.4
Face Value (₹) 10
Industry PE 44.2

Management X-Ray of Global Surfaces:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Global Surfaces - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Event Update

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Analyst's Notes

data not found
No data found!

Key Ratios of Global Surfaces

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales136163175189177162142
Operating Expenses 104123128148143141142
Manufacturing Costs22232525222522
Material Costs56717287847779
Employee Cost 89912101111
Other Costs 18192225262730
Operating Profit 324047413421-0
Operating Profit Margin (%) 23.4%24.6%26.8%21.7%19.5%13.2%-0.3%
Other Income 134941523
Interest 6533345
Depreciation 12171311976
Exceptional Items 0000000
Profit Before Tax 15213436262612
Tax 2-210154
Profit After Tax 1323343525218
PAT Margin (%) 9.7%14.0%19.3%18.7%14.2%13.0%5.5%
Adjusted EPS (₹)3.96.710.010.55.95.01.9
Dividend Payout Ratio (%)0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund 426598134260282289
Share Capital 66634424242
Reserves 365992100218239247
Minority Interest0000000
Debt88513736403946
Long Term Debt4514611742
Short Term Debt43373126333545
Trade Payables1571619162324
Others Liabilities 63-5-12-133537
Total Liabilities 151126146176303378398

Fixed Assets

Gross Block8898104108116119120
Accumulated Depreciation23385060697681
Net Fixed Assets 66605348474339
CWIP 0016000
Investments 00012262121
Inventories27243547445249
Trade Receivables45284039455657
Cash Equivalents 516111311
Others Assets 913112428204230
Total Assets 151126146176303378398

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity 55231282534
PBT 15213436262612
Adjustment 18241511103-7
Changes in Working Capital -2610-14-11-3-203
Tax Paid -3-3-4-8-7-5-4
Cash Flow From Investing Activity -20-10-8-28-124-53-6
Capex -52-11-8-8-3-3-1
Net Investments 00-0-10-1011120
Others 3210-10-20-162-6
Cash Flow From Financing Activity 17-44-19-3105443
Net Proceeds from Shares 100010200
Net Proceeds from Borrowing 10-34-150000
Interest Paid -6-5-4-3-3-4-5
Dividend Paid 0000000
Others 12-50-16488
Net Cash Flow 3-34-46-61

Finance Ratio

PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)31.2142.4641.3330.5912.737.772.74
ROCE (%)15.8520.8329.6525.3112.448.674.31
Asset Turnover Ratio0.91.171.281.170.740.480.37
PAT to CFO Conversion(x)0.382.260.910.810.140.5
Working Capital Days
Receivable Days12182727786113146
Inventory Days7256617994109130
Payable Days985860737491109

Global Surfaces Ltd Stock News

Global Surfaces Ltd FAQs

The current trading price of Global Surfaces on 05-Dec-2025 13:36 is ₹108.2.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Dec-2025 the market cap of Global Surfaces stood at ₹482.7.
The latest P/E ratio of Global Surfaces as of 04-Dec-2025 is 108.3.
The latest P/B ratio of Global Surfaces as of 04-Dec-2025 is 1.40.
The 52-week high of Global Surfaces is ₹190.0 and the 52-week low is ₹85.00.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Global Surfaces is ₹107.0 ( Cr.) .

About Global Surfaces Ltd

Global Surfaces was incorporated under the provisions of the Companies Act, 1956 as “Swastic Niwas Private Limited” on August 23, 1991, as a private limited company vide Certificate of Incorporation issued by Registrar of Companies, West Bengal. Subsequently, the name of the company was changed to “Global Stones Private Limited” pursuant to Special Resolution passed by the shareholders of the company at their Extra-Ordinary General Meeting held on May 17, 2004 and a fresh Certificate of Incorporation was issued by the Registrar of Companies, West Bengal on May 28, 2004. Subsequently, the name of the company was changed to “Global Surfaces Private Limited” pursuant to a Special Resolution passed by the shareholders of the company at the Extra-Ordinary General Meeting held on October 07, 2021 and a fresh Certificate of Incorporation dated October 20, 2021 was issued by the Registrar of companies, Jaipur. Thereafter, the company was converted into a public limited company and the name was changed to “Global Surfaces Limited” pursuant to Special Resolution passed by the shareholders of the company at the Extra-Ordinary General Meeting held on October 07, 2021 and a fresh Certificate of Incorporation dated October 21, 2021 was issued by the Registrar of Companies, Jaipur. In the year 2021, the registered office of the company has been shifted from Kolkata, West Bengal to Jaipur, Rajasthan pursuant to Certificate of Registration of Regional Director order for Change of State dated January 15, 2021.

The company is engaged in the business of processing natural stones and manufacturing engineered quartz. It has two units, one located at RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, Rajasthan and the other at Mahindra World City SEZ, Jaipur, Rajasthan for processing and manufacturing of its products. its Unit I which is located at Bagru, Jaipur, Rajasthan. This Unit was acquired by it as a stressed asset under the Recovery of the Debt Due to Banks and Financial Institutions Act, 1993 in 2004 and is exclusively dedicated to processing natural stones such as marble, granite and quartzite. Its Unit I is strategically located in close proximity of the key raw material (i.e. blocks of natural stones) which helps in sourcing its raw materials and also minimize the logistics and transportation cost.

In 2004, a sick industrial unit comprising of the leased premise situated at RIICO Industrial Area, Bagru Extn, Bagru, Jaipur, Rajasthan along with the building and shed constructed on such premises and plant and machinery for cutting and processing of natural stones was being auctioned by the Debts Recovery Tribunal. The company assessed the opportunity and believing it to be viable, bid in the auction wherein it was allotted the premises and the plant and machinery. It is started the processing of natural stones from these premises were able to turn around this sick industrial unit into a profitable venture over the years. Prior to the acquisition of Unit I in 2004, it was engaged in the real estate construction business which business it has since ceased to undertake.

From FY 2017-18 onwards, it has further diversified its business into manufacturing of engineered quartz and for this purpose, Unit II at Mahindra World City SEZ, Jaipur, Rajasthan was set up by it. This Unit II is dedicated towards manufacturing engineered quartz. This Unit is also equipped with a R&D facility to develop, improve and test its products which assists in keeping pace with the ever evolving market trends and demands. Both its Units are located in close proximity of each other i.e., within a range of 20 Kms. from one another. Its products have application in the flooring, wall cladding, countertops, cut-to size and other items.

Its products are used in both commercial and residential industry and are sold within and outside India. Majority of its operational revenues comprise of export sales. It is focusses on exporting its products and have exported to the United States of America, Canada, Australia and Middle East.

Business area of the company

The company is engaged in the business of processing natural stones and manufacturing engineered quartz. Natural stones are produced by complex geological processes and include a number of products such as granite, limestone, marble, slate, quartzite, onyx, sandstone, travertine, and others that are quarried from the earth. Natural stones are widely known for their uniqueness, aesthetic appeal, texture, color and composition as no two natural stones are the same. Engineered quartz on the other hand, is an example of engineered stone used in the countertop industry, which is a composite material made up of crushed stone bonded by an adhesive. For instance, for countertops, the slabs are made from quartz crystals bonded with a resin binder.

Products of the company

Natural Stones

  • Granites
  • Marbles
  • Soft Quartzites
  • Phylites & Soapstones

Engineered quartz

  • Aurora
  • Kalmasa
  • Prismatic
  • Stratum


Awards, accreditations or recognition

  • 2006: Certificate of Export Recognition issued from CAPEXIL.
  • 2007: Certificate of Export Recognition issued from CAPEXIL.
  • 2008: Certificate of Export Recognition issued from CAPEXIL.
  • 2008: Outstanding Quality Performance Award issued from Indian Organisation for Commerce and Industry.
  • 2011: Certificate of Export Recognition issued from CAPEXIL.
  • 2011: Certificate of Export Recognition issued from CAPEXIL.
  • 2013: Special Export Award issued from CAPEXIL.
  • 2013: Certificate of Export Recognition issued from CAPEXIL.
  • 2016: Worldwide Achievers Business Leaders Summit Award issued from Worldwide Achievers Private Limited.
  • 2016-17: Rajasthan State Award for Export Excellence issued from Government of Rajasthan -Department of Industries.
  • 2016-17: Emerging Enterprise of India issued from India SME Forum.
  • 2015-16 & 2016-17: Special Export Award issued from CAPEXIL.
  • 2016: Fastest Growing Industrial Excellence Award issued from Indian Organisation for Commerce and Industry.
  • 2018-19: Excellence Award for Industrial Development issued from Indian Economic Development & Research Association. 2018: Fastest Growing Industrial & Business Development Award issued from Indian Organisation for Commerce and Industry.
  • 2018: Best Employer Brand Award issued from Employer Branding Institute – India.
  • 2020: Fast Enterprises - Category Manufacturing issued from Asia Pacific Enterprise Awards.
  • 2022: Business Enterprises of Tomorrow 2022 - Best Global Business of the Year issued from Dun & Bradstreet India.

Certifications

  • Certificate of Compliance received from UK Certification & Inspection Limited on January 27, 2021 valid till date January 26, 2024.
  • ISO 45001: 2018 Certification received from AQC Middle East FZE on January 27, 2021 valid till date January 26, 2024.
  • Greenguard Compliance received from UK Certification & Inspection Limited on January 20, 2021 valid till date January 26, 2024.
  • Kosher Certificate received from UK Certification & Inspection Limited on January 20, 2021 valid till date January 26, 2024.
  • Certificate for NSF/ ANSI 51 compliance received from NSF International on January 21, 2020.
  • Certificate for NSF/ ANSI 51 compliance received from NSF International on January 21, 2020.
  • ISO 9001:2015 Certification received from AQC Middle East LLC on January 20, 2022 valid till date January 19, 2025.
  • ISO 14001:2015 received from AQC Middle East LLC on January 20, 2022 valid till date January 19, 2025.


History and milestones

  • 1992: Incorporation of the company.
  • 2004: Change in the company's name and line of business from real estate and construction to processing of natural stones. In line with the change in business operations, Unit I located at Bagru (Jaipur) was acquired by the company through DRT auction.
  • 2005: Entered the global market and received recognition for export achievement with respect to granites and marbles slates from CAPEXIL.
  • 2007: Received recognition for outstanding achievements in business excellence. Outstanding Quality Performance Award from Indian Organisation for Commerce & Industry.
  • 2015: Upgradation of plant and machinery installed at Unit I.
  • 2016: Crossed annual turnover of Rs 50 crore.
  • 2017: Laid down the foundation stone of Unit II located at Sanganer (Jaipur) for undertaking business of manufacturing engineered quartz.
  • 2018: Commenced production of engineered quartz at Unit II.
  • 2019: Crossed annual turnover of Rs 100 crore.
  • 2020: The company being featured in India’s Growth Champions 2020 as nation’s fastest growing companies by the Economic Times and Statista.
  • 2020: Incorporated Global Surfaces Inc., a foreign subsidiary in U.S.A.
  • 2020: Installed solar panels in both units as part of the Go Green Initiative and implemented ERP system.
  • 2021: Incorporated Global Surfaces FZE, a wholly owned subsidiary in U.A.E.
  • 2022: Commenced construction of the Proposed Facility at The Jebel Ali Free Zone, Dubai, U.A.E.
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