GSLSUNSEAugust 14, 2025

Global Surfaces Limited

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Key numbers — 40 extracted
91%
,500 SMT p.a Combined production capacity * All figures reported as on FY25 550+ Total workforce 91%+ Exports 0.50X Debt to Equity 2 COMPANY OVERVIEW Company Overview • Global Surfaces Limited (
0.50X
ombined production capacity * All figures reported as on FY25 550+ Total workforce 91%+ Exports 0.50X Debt to Equity 2 COMPANY OVERVIEW Company Overview • Global Surfaces Limited (GSL), establishe
20%
stones in the US markets. Operational Revenue (INR Mn) & EBITDA Margins (%) 2,253 2,076 1,781 20% 16% 745 11% 1% FY23 FY24 FY25 Q1-FY26 Revenue EBITDA FY25 Segmental Revenue Break-up 6
16%
s in the US markets. Operational Revenue (INR Mn) & EBITDA Margins (%) 2,253 2,076 1,781 20% 16% 745 11% 1% FY23 FY24 FY25 Q1-FY26 Revenue EBITDA FY25 Segmental Revenue Break-up 6% 94
11%
S markets. Operational Revenue (INR Mn) & EBITDA Margins (%) 2,253 2,076 1,781 20% 16% 745 11% 1% FY23 FY24 FY25 Q1-FY26 Revenue EBITDA FY25 Segmental Revenue Break-up 6% 94% Natural
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kets. Operational Revenue (INR Mn) & EBITDA Margins (%) 2,253 2,076 1,781 20% 16% 745 11% 1% FY23 FY24 FY25 Q1-FY26 Revenue EBITDA FY25 Segmental Revenue Break-up 6% 94% Natural Sto
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% 16% 745 11% 1% FY23 FY24 FY25 Q1-FY26 Revenue EBITDA FY25 Segmental Revenue Break-up 6% 94% Natural Stones Engineered Stones 4 Geographical Presence Canada USA Europe Kuwait Qat
94%
6% 745 11% 1% FY23 FY24 FY25 Q1-FY26 Revenue EBITDA FY25 Segmental Revenue Break-up 6% 94% Natural Stones Engineered Stones 4 Geographical Presence Canada USA Europe Kuwait Qatar U
9%
USA Europe Kuwait Qatar UAE Saudi Arabia India Vietnam FY25 Geographical Revenue Break-up 9% Australia 91% Domestic Export Manufacturing Facilities Export countries 5 Manufacturing Fac
50%
023, in the State of Texas, USA, as a strategic joint venture. • Global Surfaces Limited holds a 50% equity stake and maintains board-level and key policy control, classifying SSI as a subsidiary w
90%
binding quartz particles with resins, pigments, and other elements. Engineered quartz comprises of 90% ground quartz and 10% pigments and binders, ensuring superior strength, aesthetics, and consistency
10%
es with resins, pigments, and other elements. Engineered quartz comprises of 90% ground quartz and 10% pigments and binders, ensuring superior strength, aesthetics, and consistency. • Global Surfaces E
Guidance — 4 items
Surfaces FZE
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• Strengthens supply chain resilience through dual-shore manufacturing • Serves high-end project demand across the Middle East • Operates within a Free Trade Zone, benefiting from • Superior Surfaces Inc.
Surfaces FZE
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• Accelerating last-mile delivery and project-based fulfillment 8 BUSINESS OVERVIEW Engineered Stones • Quartz are natural stones that occur in clusters and do not form large stone blocks like granite or limestone.
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18 FINANCIAL OVERVIEW Q1-FY26 Financial Highlights/ Operational Highlights Q4-FY21 Financial Performance Q1-FY26 Financial Performance Revenue from Operations INR 745 Mn PAT INR (6) Mn EBITDA EBITDA Margins INR 80 Mn 10.74% PAT Margins (0.81)% Diluted EPS INR (0.10)/Share Q1-FY26 Operational Highlights • India operations saw a temporary decline, largely due to uncertainty around US trade policy and slower offtake by customers reacting to potential tariff changes.
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• In the Dubai operations, the revenues have grown by 260.7% YoY and by 63.0% QoQ to INR 440 Mn in Q1-FY26, and losses have declined from INR 68 million in Q1-FY25 and from INR 51 million in the previous quarter to INR 23 Mn in Q1-FY26.
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Risks & concerns — 1 flagged
18 FINANCIAL OVERVIEW Q1-FY26 Financial Highlights/ Operational Highlights Q4-FY21 Financial Performance Q1-FY26 Financial Performance Revenue from Operations INR 745 Mn PAT INR (6) Mn EBITDA EBITDA Margins INR 80 Mn 10.74% PAT Margins (0.81)% Diluted EPS INR (0.10)/Share Q1-FY26 Operational Highlights • India operations saw a temporary decline, largely due to uncertainty around US trade policy and slower offtake by customers reacting to potential tariff changes.
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Surfaces FZE
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Technology
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Innovation
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Advantages
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Solar Energy Adoption
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Development
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Reduction
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Valorem Advisors Disclaimer
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Opening remarks
Surfaces FZE
• Strengthens supply chain resilience through dual-shore manufacturing • Serves high-end project demand across the Middle East • Operates within a Free Trade Zone, benefiting from • Superior Surfaces Inc. (SSI) was incorporated on May 5, 2023, in the State of Texas, USA, as a strategic joint venture. • Global Surfaces Limited holds a 50% equity stake and maintains board-level and key policy control, classifying SSI as a subsidiary within the Group structure. • SSI focuses on the distribution of artificial stones, primarily engineered quartz surfaces, across the U.S. market. • Formed in partnership with a local venture partner, the entity aims to strengthen Global Surfaces’ on-ground distribution network, enhance market responsiveness, and improve customer service across key U.S. regions. Through SSI, Global Surfaces expands its strategic footprint in North America by: • Establishing a dedicated distribution channel for tax exemptions and export duty waivers artificial stones • Utilizes
Advantages
• Utilizes patented Non-Push-Up Vein Technology and Push- Up Vein Technology • Employs proprietary RIFT VEINTM TECHNOLOGY and CONVERGENCETM TECHNOLOGY • Enables the manufacturing of quartz-based slabs that emulate the natural, random appearance of veins and color patterns found in natural stones like marble and granite. • Overcomes quartz's uniform appearance, allowing for singular or multiple color patterns and intricate veining • Replicates the random and intricate vein patterns of natural stone through a method analogous to geological rifting. • Involves creating patterns that emulate natural splitting or fracturing, resulting in uniquely beautiful and realistic stone appearances. • Over 20 utility patents secured in the past 7 years, demonstrating technological leadership. • Proprietary methods allow for creating the most natural, thin veining in the industry. • Use of premium raw material Cristobalite to produce the brightest white quartz surfaces with a translucent effects . 13 N
Solar Energy Adoption
In 2020, as part of its Go- Green Initiative, the company installed solar panels at both manufacturing units, generating approximately 6 GWh of solar power for captive use. Water Conservation: The company has implemented an advanced water treatment system that recycles 80% of water, supporting the UAE’s Net Zero 2050 targets and broader sustainability goals. The system recycles 4,000 liters of water per minute through a waste treatment plant for reuse. Additionally, the company’s facilities are designed to collect and reuse rainwater, further enhancing water conservation efforts. Sustainable Product
Development
The company is committed to creating eco-friendly products by using renewable energy and recycled materials in its manufacturing processes. Recycling and Waste
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Global Surfaces focuses on recycling materials and reducing waste during production to minimize environmental impact. These initiatives reflect Global Surfaces Ltd commitment to environmental sustainability and responsible manufacturing practices. 18 FINANCIAL OVERVIEW Q1-FY26 Financial Highlights/ Operational Highlights Q4-FY21 Financial Performance Q1-FY26 Financial Performance Revenue from Operations INR 745 Mn PAT INR (6) Mn EBITDA EBITDA Margins INR 80 Mn 10.74% PAT Margins (0.81)% Diluted EPS INR (0.10)/Share Q1-FY26 Operational Highlights • India operations saw a temporary decline, largely due to uncertainty around US trade policy and slower offtake by customers reacting to potential tariff changes. • To address this, the company has realigned its sales strategy, with a stronger push toward domestic market development and leveraging the strength of the Jaipur facility, which would help balance geopolitical risks, while building new opportunities within India’s growing demand for
Valorem Advisors Disclaimer
Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. For further details, please feel free to contact our Investor Relations Representatives: Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903 9500 Email: g
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