Detailed Summary

1. Financial Results Approval

The Board approved the Un-Audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, along with the Limited Review Report issued by M/s. Ummed Jain & Co., Chartered Accountants (FRN: 119250W), Statutory Auditors.

Standalone Financial Results (₹ in Millions):

  • Total Income: ₹250.78
  • Total Expenses: ₹221.22
  • Profit Before Tax: ₹29.56
  • Tax Expense: ₹4.20 (Current Tax: ₹5.12, Deferred Tax: -₹0.92)
  • Profit After Tax: ₹25.36
  • Earnings Per Share (Basic & Diluted): ₹0.60
  • Paid-up Equity Share Capital: ₹423.82 million
  • Reserves: ₹3,043.58 million

Consolidated Financial Results (₹ in Millions):

  • Total Income: ₹654.19
  • Total Expenses: ₹651.27
  • Profit/(Loss) Before Tax: ₹4.84
  • Tax Expense: ₹5.12
  • Profit/(Loss) After Tax: ₹0.64
  • Total Comprehensive Income/(Loss): ₹0.32
  • Profit/(Loss) attributable to Owners: ₹1.50
  • Earnings/(Loss) Per Share (Basic & Diluted): ₹0.04

2. Management Changes

  • Cessation: Mr. Mayank Shah (DIN: 01850199) stepped down from additional charge of Chief Financial Officer effective conclusion of business hours on August 10, 2026. He continues as Chairman & Managing Director.
  • Appointment: Mr. Ashish Agarwal appointed as Chief Financial Officer (Key Managerial Personnel) effective August 11, 2026. He is a qualified Chartered Accountant with 6 years experience, currently serving as Senior Manager - Accounts.

3. Auditor Re-appointment

Approved re-appointment of M/s. Ummed Jain & Co., Chartered Accountants (FRN: 119250W) as Statutory Auditors for 5 years from conclusion of 35th Annual General Meeting, subject to shareholder approval. Proposed remuneration: ₹15,00,000 plus applicable taxes for FY 2026-27.

4. Director Re-appointments

  • Mrs. Sweta Shah (DIN: 06883764): Re-appointed as Whole-time Director for 3 years from September 11, 2026 to September 10, 2029, subject to shareholder approval. She is spouse of Mr. Mayank Shah, Promoter.
  • Dr. Chandan Chowdhury (DIN: 00906211): Re-appointed as Independent Director for second term of 2 years from October 26, 2026 to October 25, 2028, subject to shareholder approval.

5. Senior Management Designation

Mr. L. N. Bakshi, Vice President Sales & Marketing, designated as Senior Management Personnel effective August 10, 2026. He has over 35 years experience in natural and engineered stone surface industry.

6. Annual General Meeting

35th Annual General Meeting scheduled for Saturday, September 19, 2026 at 11:00 AM (IST) through Video Conferencing/Other Audio-visual Means.

7. Subsidiary Loan Conversion

Approved conversion of further tranche of unsecured inter-company loan to wholly owned subsidiary Global Surfaces FZE, Dubai into equity shares. Conversion amount: AED 3,000,000 and USD 10,857,591 (aggregating ₹110.44 crore as of June 30, 2026). Issue price to be determined by independent valuer Aditya Chokhra (IBBI/RV/06/2020/12719), not exceeding AED 500 per share. Expected completion by September 30, 2026. No cash outflow involved.

Global Surfaces FZE Financials:

  • Paid-up capital: ₹34.81 crore
  • Net worth: ₹48.69 crore (March 31, 2026)
  • Turnover: FY23-24: ₹57.34 crore, FY24-25: ₹64.36 crore, FY25-26: ₹143.02 crore
  • PAT: FY23-24: ₹5.57 crore, FY24-25: -₹35.87 crore, FY25-26: -₹39.18 crore

8. Corporate Guarantee

Approved corporate guarantee by way of Standby Letter of Credit of ₹2 crore issued in favor of HDFC Bank Limited, GIFT City IBU, Gujarat, securing Working Capital Term Loan facilities availed by Global Surfaces FZE. This represents roll-over/renewal of existing guarantee for matured facilities. Company charges guarantee commission from subsidiary on arm's length basis.

9. Additional Information

  • Board Meeting timing: August 10, 2026 from 04:30 PM to 05:15 PM (IST)
  • Trading Window closure: Continued closure since July 1, 2026, will open after 48 hours from results declaration
  • Bagru Unit operations discontinued effective March 31, 2026 due to sustained financial losses and capacity under-utilization
  • Previous loan conversion of USD 11,120,997 (₹1,000 million) completed on June 17, 2026