GSLSUConsumer Discretionary

Global Surfaces Limited

Granites & Marbles · ISIN INE0JSX01015 · BSE 543829 · NSE EQ · FV ₹10
Last price
₹28
+2.40%today
What this company does

Global Surfaces Limited operates in Granites & Marbles, part of the Consumer Discretionary sector. It booked ₹65 cr of revenue in its latest quarter (Q1 FY27) and kept 0.2% of sales as profit. It is the 3rd largest of 6 Granites & Marbles companies we track, by market value.

internal, financial and operational controls, there secretarial records. The verification was done on is an unavoidable risk that some misstatements or test basis to ensure that correct facts are reflected in material non-compliances may not be detected, secretarial records.
Their stated vision

to be the most admired and competitive manner, which goes beyond the practices enshrined in Company in our industry and our mission to create the the laws.

In the report:
39out of 100
Equitytale Health Score
Strained

Healthier than 39% of companies in Consumer Discretionary, on all six measures of filed financials. Each measure is ranked against the 301–421 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
51

At close. Not part of the score.

Profitability & returns22

How much profit it earns on the money it employs

Balance sheet27

How much it owes, and whether earnings cover the interest

Cash quality17

Whether reported profit actually arrives as cash

Growth & consistency59

Whether sales and profit have grown, and how steadily

Valuation42

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 73%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 0.2% net margin
! Sales down 12% vs last year
! Low 0.2% return on equity

What if I invest in GSLSU?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹28 +2.40%
latest close · 2026-09-17
52-wk low ₹2342 sessions so far52-wk high ₹38
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio176.1High
LowAverageHigh
P/B ratio0.17Below book
Below bookModerateHigh
EV / EBITDA6.0Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity0.2%Weak
WeakFairStrong ▸15%
Return on capital4.4%Weak
WeakFairStrong
Net margin0.2%Thin
ThinDecentStrong
EBITDA margin13.0%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.60Moderate
LowModerateHigh ▸1
Interest cover1.1×Risky
RiskyOkayStrong ▸5×
Current ratio1.27Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹45 cr
Book value
₹169
EPS
₹0.04
latest quarter
Net debt
₹160 cr
owes more than its cash
Enterprise value
₹205 cr
EBITDA
₹34 cr
annualised
EBIT
₹16 cr
annualised
Operating margin
6.2%
Return on assets
0.1%
Earnings yield
0.57%
P/S
0.17
Sales / share
₹163.5
Tax rate
86.8%
Face value
₹10
Shares
1.6 cr
Working capital
₹46 cr
Current assets
₹217 cr
Current liabilities
₹171 cr
Delivery %
67.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹65 cr
Other Income₹19.2 L
Total Income₹66 cr
Cost of Materials₹41 cr
Purchases of Stock-in-Trade₹1 cr
Inventory Change (±)₹-9 cr
Employee Benefit Expense₹8 cr
Finance Costs₹4 cr
Depreciation & Amortisation₹4 cr
Other Expenses₹16 cr
Total Expenses₹65 cr
Profit before Tax₹48.4 L
Tax Expense₹42 L
Net Profit₹6.4 L
Net margin on total income0.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹33 cr50.6%
Employee benefit expense₹8 cr11.6%
Finance costs₹4 cr5.4%
Depreciation & amortisation₹4 cr6.9%
Other expenses₹16 cr24.8%
Tax expense₹42 L0.6%
Profit for the period₹6.4 L0.1%
Total income ₹66 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue59 cr45 cr65 cr
Total income62 cr55 cr66 cr
Expenses65 cr73 cr65 cr
Profit before tax-3 cr-17 cr48.4 L
Tax42.5 L6 cr42 L
Net profit (owners' share)-3 cr-23 cr15 L
Net margin (owners' share, on revenue)-5.6%-51.5%0.2%
EPS (₹)-0.71-5.270.04
YoY (latest quarter): total income -12.2% · net profit
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹541 cr
Shareholder equity
₹271 cr
parent shareholders
Total debt
₹163 cr
Cash
₹4 cr
Cash flow · H1 FY26
Operating
₹9 cr
Investing
₹-4 cr
Financing
₹-3 cr
Peer comparison
Granites & Marbles · by market value
CompanyPriceMarket capP/E
Midwest Limited₹976₹3,530 cr28.4
Pokarna Limited₹738₹2,287 cr13.4
Global Surfaces Limitedthis company₹28₹45 cr176.1
Oriental Trimex Limited₹5₹37 cr8.3
Aro Granite Industries Limited₹23₹35 cr
Madhav Marbles and Granites Limited₹35₹31 cr
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
73.3%
FII / Foreign
0.8%
DII / Domestic
Retail / others
26.0%
Promoter stake down 0.1% over the last 12 quarters.
Smart-money activity
Insider trades
SoldVatsankit Shah Trust · Promoter Group8.46 L20 Mar 26
BoughtVatsankit Shah · Promoter Group8.46 L20 Mar 26
BoughtSweta Shah · Promoter Group5.00 L · ₹10.5 cr4 Dec 23
Bulk / block deals
SoldSW CAPITAL PRIVATE LIMITED · NSE3.32 L @ ₹55.953 Jun 26
BoughtSW CAPITAL PRIVATE LIMITED · NSE3.15 L @ ₹55.023 Jun 26
SoldPINE OAK GLOBAL FUND · NSE3.40 L @ ₹55.43 Jun 26
Stake changes
SoldVatsankit Shah Trust · promoter→ 0.00% · 8.46 L20 Mar 26
BoughtVatsankit Shah · promoter→ 2.00% · 8.46 L20 Mar 26
BoughtSweta Shah · promoter→ 0.00% · 5.00 L4 Dec 23
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 8 Jan 2026
See the official result
1
Appointment of M/s Ummed Jain & Co, Chartered Accountants (FRN:119250W), as Statutory Auditors of the Company to fill Casual Vacancy caused by the Resignation of M/s B. Khosla & Co., Chartered Accountants (FRN: 000205C)
Backed by 96% of shareholders other than promotersneeded 50%
3,585 votes for, 158 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 39 named members
owning 73.2% between them · as of 2026-06-30
MAYANK SHAH55.46%
MAYANK SHAH HUF (MAYANK SHAH)6.82%
SWETA SHAH5.66%
MRIDVIKA SHAH2.53%
VATSANKIT SHAH2.00%
BIMAL KUMAR AGARWAL0.16%
KARUNA DEVI AGARWAL0.16%
MUDIT AGARWAL0.16%
Business done with them
FY2025 · 3 of the group
The company paid ₹4 cr to companies in the promoter group last year — about 1.9% of its ₹208 cr revenue and received ₹25.3 L back from them.
Mayank Shah
Other payments to them · Remuneration, Rental income, Employee benefits payable, Loan to employees
also owns 55.46% of the company
₹3 cr
company paid
Sweta Shah
Other payments to them · Remuneration, payment of lease liability, Sale, Loan to employees
also owns 5.66% of the company
₹81.5 L
company paid
Mayank Shah
Other income from them · Remuneration, Rental income, Employee benefits payable, Loan to employees
also owns 55.46% of the company
₹24 L
company received
Mridvika Shah
Other payments to them · Education and training expenses
also owns 2.53% of the company
₹9.7 L
company paid
Sweta Shah
Sold goods to them · Remuneration, payment of lease liability, Sale, Loan to employees
also owns 5.66% of the company
₹1.3 L
company received

The company also transacted with 10 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.