Global Surfaces Limited (IN:GSLSU)
:GSLSU
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Global Surfaces Limited
(GSLSU)
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Rating:44Neutral
Price Target:
₹61.00
▼(-38.83% Downside)
Action:Reiterated
Date:03/21/26
The score is driven primarily by weak financial performance (declining revenue, negative profitability, and materially negative free cash flow), reinforced by bearish technicals (price far below key moving averages with negative MACD). Valuation provides limited support because losses create a negative P/E and no dividend yield is available.
Positive Factors
High Gross Margins
A gross margin above 50% signals durable product-level pricing power and manufacturing efficiency in engineered and natural stone. Sustained high gross margins provide a buffer against cyclical revenue swings, support reinvestment in quality and distribution, and help restore operating profitability over the medium term.
Negative Factors
Declining Revenue
A persistent top-line decline reduces scale benefits and undermines fixed-cost absorption in a manufacturing business. If revenue contraction continues, gross-margin advantages can be offset by falling volumes, weakening unit economics, pressuring margins, and making it harder to fund strategic initiatives without structural demand recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margins
A gross margin above 50% signals durable product-level pricing power and manufacturing efficiency in engineered and natural stone. Sustained high gross margins provide a buffer against cyclical revenue swings, support reinvestment in quality and distribution, and help restore operating profitability over the medium term.
Read all positive factors
Global Surfaces Limited (GSLSU) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.33B
Dividend YieldN/A
Average Volume (3M)7.25K
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue Growth-5.21%
EPS Growth-147.62%
CountryIN
Employees247
SectorBasic Materials
Sector Strength58
IndustryConstruction Materials
Share Statistics
EPS (TTM)-6.13
Shares Outstanding42,381,817
10 Day Avg. Volume9,161
30 Day Avg. Volume7,255
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.53
Price to Sales (P/S)2.23
P/FCF Ratio-12.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Global Surfaces Limited Business Overview & Revenue Model
Company Description
Global Surfaces Limited engages in the mining, production, and export of natural stones and engineered quartz. It offers natural stones, such as granites, marbles, soft quartzites, phylites, and soapstones; and engineered quartz products, includin...
How the Company Makes Money
Global Surfaces Limited generates revenue primarily by producing and selling engineered stone (such as quartz surfaces) and natural stone (such as granite) to a wide range of customers, including construction firms, real estate developers, and ret...
Global Surfaces Limited Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.32B | 2.08B | 2.25B | 1.77B | 1.89B | 1.75B |
| Gross Profit | 983.59M | 1.06B | 785.55M | 706.78M | 771.78M | 775.80M |
| EBITDA | 120.55M | 91.67M | 380.34M | 382.91M | 498.47M | 509.51M |
| Net Income | -259.98M | -285.35M | 187.00M | 242.34M | 356.34M | 339.32M |
Balance Sheet | ||||||
| Total Assets | 5.73B | 5.58B | 5.22B | 4.62B | 2.36B | 1.59B |
| Cash, Cash Equivalents and Short-Term Investments | 108.84M | 29.48M | 27.41M | 122.21M | 126.97M | 54.44M |
| Total Debt | 2.12B | 2.01B | 1.46B | 1.67B | 794.70M | 381.27M |
| Total Liabilities | 2.75B | 2.54B | 1.89B | 2.01B | 1.02B | 605.63M |
| Stockholders Equity | 2.96B | 3.02B | 3.31B | 2.61B | 1.34B | 984.34M |
Cash Flow | ||||||
| Free Cash Flow | 59.13M | -358.99M | -1.41B | -874.19M | 160.83M | 243.47M |
| Operating Cash Flow | 90.19M | -312.25M | -372.52M | 270.26M | 281.90M | 321.44M |
| Investing Cash Flow | -44.47M | -59.92M | 90.27M | -2.05B | -281.37M | -79.63M |
| Financing Cash Flow | -25.25M | 374.07M | 243.11M | 1.83B | -34.63M | -193.14M |
Global Surfaces Limited Technical Analysis
Negative
99.73
Price Trends
58.63
Negative
74.96
Negative
93.25
Negative
Market Momentum
-1.37
Positive
41.73
Neutral
39.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GSLSU, the sentiment is Negative. The current price of 99.73 is above the 20-day moving average (MA) of 57.26, above the 50-day MA of 58.63, and above the 200-day MA of 93.25, indicating a bearish trend. The MACD of -1.37 indicates Positive momentum. The RSI at 41.73 is Neutral, neither overbought nor oversold. The STOCH value of 39.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GSLSU.
Global Surfaces Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹27.71B | 7.48 | ― | 0.29% | 3.11% | 269.41% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹112.27B | 18.41 | ― | ― | 9.48% | 1545.41% | |
56 Neutral | ₹78.96B | 16.81 | ― | 0.82% | 9.20% | 33.12% | |
52 Neutral | ₹124.33B | 69.77 | ― | ― | 6.86% | 53.19% | |
50 Neutral | ₹21.90B | 46.52 | ― | 0.19% | 4.61% | 186.13% | |
44 Neutral | ₹2.33B | -35.38 | ― | ― | -5.21% | -147.62% |
* Basic Materials Sector Average
IN:GSLSU
Global Surfaces Limited
55.66
-71.24
-56.14%
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Global Surfaces Limited Corporate Events
Global Surfaces Clarifies 2% Promoter Group Share Transfer After Trust Dissolution
Mar 24, 2026
Global Surfaces Limited has disclosed an internal equity transaction involving an off-market inter-se transfer of 845,906 shares, representing 2% of its paid-up equity capital, within the promoter group. The shares were moved from the Vatsankit Sh...
Global Surfaces Promoter to Absorb 2% Stake After Trust Dissolution
Mar 12, 2026
Promoter group member Vatsankit Shah has notified the Indian stock exchanges of his plan to acquire 845,906 equity shares, representing 2% of Global Surfaces Limited’s paid-up share capital, from M/s. Vatsankit Shah Trust. The transfer follo...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.