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Global Surfaces Limited Q2 FY26 results deck summary

NSE: GSLSU · BSE: 543829

Results deck of 17 Nov 2025, summarised by AI from the filing.

Q2 FY26 revenue ₹541 cr (+15.1% YoY) but EBITDA ₹(36) cr and PAT ₹(46) cr, with Dubai utilisation at ~53%.

Key takeaways

  1. Q2 revenue Q2-FY26 revenue from operations ₹541 cr (Q2-FY25: ₹470 cr, +15.1% YoY).
  2. Q2 EBITDA Q2-FY26 EBIDTA ₹(36) cr (Q2-FY25: ₹17 cr); EBIDTA margins (6.65)% (Q2-FY25: 3.62%).
  3. Dubai utilisation Dubai plant utilisation rose to around 53%, supported by stronger traction in Middle East and North America.
  4. India softness India operations impacted by lower volumes and US tariff uncertainty, partly cushioned by cost discipline and higher other income.
  5. Margin pressure Consolidated profitability reflects Dubai scale-up phase with elevated depreciation and finance costs.

Original filing on BSE

Global Surfaces Limited Q1 FY27 results

As filed: Revenue ₹65.4 cr (−13% year on year), EBITDA ₹8.3 cr (+4% year on year), PAT ₹0.1 cr, EBITDA margin 12.7% (+207 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹45.4 cr (−20% year on year), EBITDA −₹19.0 cr, PAT −₹23.4 cr, EBITDA margin -41.8% (−1,000 bps). Score 15 of 100, Below trend. Revenue growth was below the company's own trend. EBITDA margin fell 1000 bps year on year. Revenue fell 23% from last quarter. Share price after the results: −17.2% in 30 days (Nifty 500: +2.1%).
  • Q3 FY26: Revenue ₹59.3 cr (+29% year on year), EBITDA ₹3.2 cr, PAT −₹3.3 cr, EBITDA margin 5.5% (+1,000 bps). Score 45 of 100, In line with trend. Revenue growth was in line with the company's own trend. EBITDA margin rose 1000 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Revenue rose ₹13.3 cr on a year ago, more than the ₹6.0 cr it added the year before. Share price after the results: −13.6% in 30 days (Nifty 500: −3.2%).
  • Q2 FY26: Revenue ₹54.0 cr (+15% year on year), EBITDA −₹3.0 cr (−250% year on year), PAT −₹5.0 cr, EBITDA margin -5.6% (−981 bps). Score 32 of 100, Below trend. Revenue growth was below the company's own trend; EBITDA growth was well below it. EBITDA margin fell 981 bps year on year. Revenue fell 28% from last quarter. Revenue rose ₹7.0 cr on a year ago, against ₹7.0 cr the year before. Share price after the results: −8.7% in 29 days (Nifty 500: −0.4%).
  • Q1 FY26: Revenue ₹75.0 cr (+32% year on year), EBITDA ₹8.0 cr (+14% year on year), PAT −₹1.0 cr, EBITDA margin 10.7% (−161 bps). Score 15 of 100, Below trend. Revenue and EBITDA growth were in line with the company's own trend. EBITDA margin fell 161 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −16.5% in 29 days (Nifty 500: +2.2%).
  • Q4 FY25: Revenue ₹57.0 cr (−48% year on year), EBITDA −₹1.0 cr (−106% year on year), PAT −₹11.0 cr (−200% year on year), EBITDA margin -1.8% (−1,000 bps). Score 20 of 100, Below trend. Revenue and profit growth were well below the company's own trend; EBITDA growth was below it. EBITDA margin fell 1000 bps year on year. Share price after the results: −11.6% in 30 days (Nifty 500: +3.7%).
  • Q3 FY25: Revenue ₹46.0 cr (+15% year on year), EBITDA −₹5.0 cr (−171% year on year), PAT −₹10.0 cr (−300% year on year), EBITDA margin -10.9% (−1,000 bps). Score 20 of 100, Below trend. EBITDA margin fell 1000 bps year on year. Not enough history for a trend yet: scored on growth alone.
  • Q2 FY25: Revenue ₹47.0 cr (+18% year on year), EBITDA ₹2.0 cr (−71% year on year), PAT −₹6.0 cr (−300% year on year), EBITDA margin 4.3% (−1,000 bps). Score 20 of 100, Below trend. EBITDA margin fell 1000 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 18% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Global Surfaces Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.