Skip to main content
TipRanks
Go Ultimate75% OFF

Global Surfaces Limited (GSLSU) AI Stock Analysis

0 Followers
IN:GSLSU

Global Surfaces Limited

(NSE:GSLSU)

Select Model
Rating:37Underperform
Price Target:INR 21.00â–¼(-8.30% Downside)
Action:downgraded
Date:10/17/26

The overall score is at the minimum of the range, driven by a combination of deep fundamental losses, a deteriorating balance sheet, and a persistently weak technical trend. The company's inability to generate profits, reflected in a negative P/E ratio, is the most significant risk, compounded by the stock trading far below all key moving averages with no positive catalysts in sight.

Positive Factors
Revenue RecoveryFY2026 revenue rebounded 48.6% year over year after the FY2025 decline, demonstrating that demand for the company’s engineered-stone products can recover and scale. This expands the platform for future operating improvement if margins normalize.
Negative Factors
Persistent Profitability DeteriorationThe shift from solid profits in FY2022–FY2024 to losses in FY2025 and FY2026 indicates that revenue growth has not translated into durable earnings. Negative operating profit and EBITDA weaken internal funding capacity and make recovery dependent on margin improvement.

Global Surfaces Limited (GSLSU) vs. iShares MSCI India ETF (INDA)

-100%-80%-60%-40%-20%0%20%IN:GSLSU-81.61%INDA-5.67%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
INR 1.15B
Dividend Yield
―
Average Volume (3M)
11.94K
Price to Earnings (P/E)
-3.2
Beta (1Y)
0.89
Revenue Growth
-0.93%
EPS Growth
-17.24%
Country
India
Employees
174
Sector
General
Sector Strength
55
Industry
Construction Materials

Global Surfaces Limited Business Overview & Revenue Model

Company Description

Global Surfaces Limited is primarily engaged in the mining, production, and international trade of both natural stone varieties and engineered quartz. The company's extensive natural stone catalog features granites, marbles, soft quartzites, phylites...

Global Surfaces Limited Financial Statement Overview

Summary

Revenue growth is offset by severe profitability deterioration, with a net loss of INR 304 million and gross margin halving to 28%. Rising debt to INR 2,138 million and a debt-to-equity of 0.79 increase risk, despite a modest return to positive operating cash flow.

Income Statement

30Negative

Balance Sheet

45Neutral

Cash Flow

40Negative
Financial statement breakdown
BreakdownTTMMar 2026Mar 2025Mar 2024Mar 2023Mar 2022
Income Statement
Total Revenue2.30B2.33B2.08B2.25B1.77B1.89B
Gross Profit759.34M662.21M1.06B1.04B706.78M771.78M
EBITDA63.58M103.61M91.67M380.34M382.91M498.47M
Net Income-304.81M-304.28M-285.35M187.00M242.34M356.34M
Balance Sheet
Total Assets5.42B5.41B5.58B5.22B4.62B2.36B
Cash, Cash Equivalents and Short-Term Investments80.74M37.79M29.48M27.41M122.21M126.97M
Total Debt2.06B2.16B2.01B1.46B1.67B794.70M
Total Liabilities2.75B2.70B2.54B1.89B2.01B1.02B
Stockholders Equity2.67B2.71B3.02B3.31B2.61B1.34B
Cash Flow
Free Cash Flow035.97M-358.99M-1.41B-874.19M160.83M
Operating Cash Flow0126.12M-312.25M-372.52M270.26M281.90M
Investing Cash Flow0-104.45M-59.92M90.27M-2.05B-281.37M
Financing Cash Flow0-11.65M374.07M243.11M1.83B-34.63M

Global Surfaces Limited Technical Analysis

Technical Analysis SentimentNegative
Last Price22.90

Price Trends

50DMA26.93Negative
100DMA30.21Negative
200DMA48.13Negative

Market Momentum

MACD-1.27Negative
RSI37.23Neutral
STOCH31.61Neutral

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 22.90 is below the 20-day moving average (MA) of 24.22, below the 50-day MA of 26.93, and below the 200-day MA of 48.13, indicating a bearish trend. The MACD of -1.27 indicates Negative momentum. The RSI at 37.23 is Neutral, neither overbought nor oversold. The STOCH value of 31.61 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

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

IN:GSLSU against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
IN:KAJARIACERIN:KAJARIACER70OutperformINR 186.71B31.53―1.50%14.20%66.86%
IN:SOMANYCERAIN:SOMANYCERA68NeutralINR 22.52B16.72―2.21%15.05%137.30%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
IN:ORIENTBELLIN:ORIENTBELL55NeutralINR 5.77B27.74―0.25%13.22%387.47%
IN:ASIANTILESIN:ASIANTILES52NeutralINR 13.32B178.96――24.29%-89.91%
IN:NITCOIN:NITCO44NeutralINR 22.99B-57.68――27.47%98.31%
IN:GSLSUIN:GSLSU37UnderperformINR 979.02M-3.17――-0.93%-17.24%

* General Sector Average

Performance Comparison

-50%0%IN:GSLSUIN:ASIANTILESIN:KAJARIACERIN:NITCOIN:ORIENTBELLIN:SOMANYCERADec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
IN:GSLSU and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
IN:GSLSUGlobal Surfaces Limited22.90-108.55-82.58%
IN:ASIANTILESAsian Granito India Limited44.75-24.10-35.00%
IN:KAJARIACERKajaria Ceramics Limited1196.9097.198.84%
IN:NITCONitco Limited89.04-2.91-3.16%
IN:ORIENTBELLOrient Bell Limited398.85108.8237.52%
IN:SOMANYCERASomany Ceramics Limited542.10101.1722.95%

Global Surfaces Limited Corporate Events

Global Surfaces’ Credit Rating Cut as Losses, Liquidity Strains Persist

Sep 1, 2026

Credit rating agency Acuité Ratings & Research has downgraded Global Surfaces Limited’s long-term bank loan rating to ACUITE BBB with a Negative outlook and its short-term rating to ACUITE A3+, reflecting heightened concerns over the group’s credit p...

Global Surfaces Publishes Notice for 35th AGM to Be Held Online

Aug 27, 2026

Global Surfaces Limited has notified exchanges that it has published newspaper advertisements announcing the circulation of the notice for its 35th Annual General Meeting, scheduled for September 19, 2026, to be held via video conferencing and other...

Global Surfaces Sets September 19, 2026 AGM With Governance Changes on Agenda

Aug 26, 2026

Global Surfaces Limited has scheduled its thirty-fifth Annual General Meeting for September 19, 2026, to be held via video conferencing or other audio-visual means, with electronic circulation of the AGM notice and the annual report for financial yea...

Global Surfaces Publishes Q1 FY27 Earnings Call Transcript for Investors

Aug 14, 2026

Global Surfaces Limited has released the official transcript of its Q1 FY 2026-27 earnings conference call held on August 11, 2026, where management discussed financial results and business performance for the quarter ended June 30, 2026. The documen...

Global Surfaces Overhauls Governance and Bolsters Dubai Subsidiary Financing

Aug 10, 2026

Global Surfaces Limited has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, and cleared the related board reports and governance documents ahead of its 35th Annual General Meeting, to be held...

Global Surfaces clears Q1 FY27 results, overhauls governance and backs Dubai arm

Aug 10, 2026

Global Surfaces Limited’s board has approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, and cleared the accompanying review reports, paving the way for their publication to shareholders and the ma...

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.

Date of analysis: Oct 17, 2026