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Last Updated: April 2, 2026, 4:41 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 543829 | NSE: GSLSU

Global Surfaces Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹77.69Undervalued by 66.72%vs CMP ₹46.60

P/E (15.0) × ROE (9.1%) × BV (₹69.90) × DY (2.00%)

Defaults: P/E=15

₹112.87Undervalued by 142.21%vs CMP ₹46.60
MoS: +58.7% (Strong)Confidence: 33/100 (Low)Models: 2 Under, 2 Fair
ModelCategoryValueWeightSignal
PE-ROEEarnings₹44.6739%Fair (-4.1%)
Net Asset ValueAssets₹70.0224%Under (+50.3%)
ROCE CapitalReturns₹358.0020%Under (+668.2%)
Revenue MultipleRevenue₹49.2018%Fair (+5.6%)
Consensus (4 models)₹112.87100%Undervalued
Key Drivers: EPS CAGR -42.5% drags value — could be higher if earnings stabilize. | Wide model spread (₹45–₹358) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -42.5% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

41
Global Surfaces Ltd scores 41/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health53/100 · Moderate
ROCE 2.0% WeakROE 9.1% AverageD/E 0.38 ModerateInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 73.3% Stable
Earnings Quality30/100 · Weak
OPM contracting (21% → 9%) DecliningWorking capital: 144 days Capital intensive
Quarterly Momentum45/100 · Moderate
Revenue (4Q): -5% YoY DecliningOPM: 5.5% (up 17.0% YoY) Margin expansion
Industry Rank25/100 · Weak
ROCE 2.0% vs industry 15.2% Below peersROE 9.1% vs industry 30.5% Below peers3Y sales CAGR: 3% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:41 am

Market Cap 197 Cr.
Current Price 46.6
Intrinsic Value₹112.87
High / Low 145/43.7
Stock P/E
Book Value 69.9
Dividend Yield0.00 %
ROCE1.97 %
ROE9.08 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Global Surfaces Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Global Surfaces Ltd 197 Cr. 46.6 145/43.7 69.90.00 %1.97 %9.08 % 10.0
Glittek Granites Ltd 102 Cr. 39.1 80.2/4.404.00 4.360.00 %115 %280 % 5.00
Pokarna Ltd 2,696 Cr. 870 1,160/69323.7 2620.07 %28.4 %27.4 % 2.00
Inani Marbles & Industries Ltd 17.4 Cr. 9.35 23.9/8.40 28.90.43 %4.07 %1.27 % 2.00
Elegant Marbles and Grani Industries Ltd 45.8 Cr. 154 274/13312.0 4920.65 %3.62 %2.93 % 10.0
Industry Average998.33 Cr123.3636.48180.540.48%15.18%30.50%8.09

All Competitor Stocks of Global Surfaces Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 40.4939.6036.3740.2340.07108.6257.1546.9746.0657.4774.5054.0859.27
Expenses 32.1131.6931.1233.4333.3592.4249.7045.2451.3759.3966.5657.6456.03
Operating Profit 8.387.915.256.806.7216.207.451.73-5.31-1.927.94-3.563.24
OPM % 20.70%19.97%14.43%16.90%16.77%14.91%13.04%3.68%-11.53%-3.34%10.66%-6.58%5.47%
Other Income 0.331.171.042.010.79-0.120.691.045.390.110.239.172.45
Interest 0.840.830.911.431.151.023.353.124.164.823.653.673.88
Depreciation 2.712.341.701.791.873.574.544.644.694.804.414.724.72
Profit before tax 5.165.913.685.594.4911.490.25-4.99-8.77-11.430.11-2.78-2.91
Tax % 5.04%2.71%40.76%39.89%24.28%5.66%604.00%24.45%18.93%-3.67%627.27%64.03%14.78%
Net Profit 4.905.752.183.363.4110.83-1.26-6.20-10.42-11.01-0.57-4.56-3.34
EPS in Rs 1.451.360.510.640.772.48-0.29-1.51-2.45-2.48-0.10-1.10-0.71

Last Updated: March 3, 2026, 9:32 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 5:55 am

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 163176190178225208245
Expenses 123128148143190206240
Operating Profit 414842363526
OPM % 25%27%22%20%16%1%2%
Other Income 23834712
Interest 533441516
Depreciation 171311991919
Profit before tax 2135362525-25-17
Tax % -1%2%1%4%22%16%
Net Profit 2134362420-29-19
EPS in Rs 32.5052.6110.525.724.41-6.73-4.39
Dividend Payout % 0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)61.90%5.88%-33.33%-16.67%-245.00%
Change in YoY Net Profit Growth (%)0.00%-56.02%-39.22%16.67%-228.33%

Global Surfaces Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 5 years from 2020-2021 to 2024-2025.

Growth

Last Updated: September 5, 2025, 3:36 pm

Balance Sheet

Last Updated: March 3, 2026, 3:03 am

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 663442424242
Reserves 5892100219288260254
Borrowings 543879166145199212
Other Liabilities 11222335475665
Total Liabilities 129159236462522558573
Fixed Assets 60548889294286289
CWIP 017124000
Investments 00116000
Other Assets 69104131244227271283
Total Assets 129159236462522558573

Reserves and Borrowings Chart

Cash Flow

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 54322827-37-31
Cash from Investing Activity + -11-8-28-2059-6
Cash from Financing Activity + -46-19-31832437
Net Cash Flow -35-34-40
Free Cash Flow 442418-87-141-35
CFO/OP 142%76%87%97%-91%-1,393%

Free Cash Flow

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-13.0010.00-37.00-130.00-110.00-197.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 63837590178224
Inventory Days 126170198190236342
Days Payable 42817970119166
Cash Conversion Cycle 147172193210295400
Working Capital Days 106123103-80169144
ROCE %30%21%9%7%-2%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.37%73.37%73.37%73.37%73.37%73.37%73.26%73.25%73.25%73.25%73.25%73.25%
FIIs 7.49%4.85%1.71%2.34%2.11%1.89%1.53%1.53%1.67%0.57%0.76%1.60%
DIIs 1.02%0.45%0.62%0.45%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.13%
Public 18.13%21.32%24.29%23.85%24.52%24.75%25.22%25.24%25.08%26.20%25.98%25.02%
No. of Shareholders 13,03711,57812,35713,60312,89413,51914,34314,80014,66814,82515,61214,793

Shareholding Pattern Chart

No. of Shareholders

Global Surfaces Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -6.734.417.1010.5210.02
Diluted EPS (Rs.) -6.734.417.1010.5210.02
Cash EPS (Rs.) -2.426.777.9413.7172.78
Book Value[Excl.RevalReserv]/Share (Rs.) 71.3478.4561.6639.58152.61
Book Value[Incl.RevalReserv]/Share (Rs.) 71.3478.4561.6639.58152.61
Revenue From Operations / Share (Rs.) 48.9953.1642.0156.20271.89
PBDIT / Share (Rs.) 2.169.139.0314.7279.00
PBIT / Share (Rs.) -2.247.026.8111.5458.82
PBT / Share (Rs.) -5.885.965.9710.6653.53
Net Profit / Share (Rs.) -6.824.675.7210.5252.61
NP After MI And SOA / Share (Rs.) -6.734.415.7210.5252.61
PBDIT Margin (%) 4.4117.1721.5026.1929.05
PBIT Margin (%) -4.5613.2016.2020.5221.63
PBT Margin (%) -12.0011.2014.2018.9719.68
Net Profit Margin (%) -13.918.7813.6018.7219.34
NP After MI And SOA Margin (%) -13.748.3013.6018.7219.34
Return on Networth / Equity (%) -9.435.659.2726.5834.47
Return on Capital Employeed (%) -2.346.898.8320.8535.75
Return On Assets (%) -5.113.585.2415.0621.34
Long Term Debt / Equity (X) 0.170.150.070.080.06
Total Debt / Equity (X) 0.500.290.460.270.38
Asset Turnover Ratio (%) 0.380.450.501.071.22
Current Ratio (X) 1.582.221.592.371.66
Quick Ratio (X) 0.961.371.271.411.00
Inventory Turnover Ratio (X) 2.421.471.882.422.72
Interest Coverage Ratio (X) 0.598.5910.7316.8214.94
Interest Coverage Ratio (Post Tax) (X) -0.875.397.7913.0310.95
Enterprise Value (Cr.) 600.261071.55704.210.000.00
EV / Net Operating Revenue (X) 2.894.763.950.000.00
EV / EBITDA (X) 65.4827.7018.390.000.00
MarketCap / Net Operating Revenue (X) 2.184.343.910.000.00
Price / BV (X) 1.502.962.670.000.00
Price / Net Operating Revenue (X) 2.194.343.910.000.00
EarningsYield -0.060.010.030.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Global Surfaces Ltd. is a Public Limited Listed company incorporated on 23/08/1991 and has its registered office in the State of Rajasthan, India. Company's Corporate Identification Number(CIN) is L14100RJ1991PLC073860 and registration number is 073860. Currently company belongs to the Industry of Granites/Marbles. Company's Total Operating Revenue is Rs. 141.91 Cr. and Equity Capital is Rs. 42.38 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Granites/MarblesPlot No. PA-10-006, Engineering and Related Industries SEZ, Jaipur Rajasthan 302037Contact not found
Management
NamePosition Held
Mr. Mayank ShahChairman & Managing Director
Mrs. Sweta ShahWhole Time Director
Mr. Ashish Kumar KachawaNon Exe.Non Ind.Director
Mr. Yashwant Kumar SharmaIndependent Director
Mr. Sudhir BaxiIndependent Director
Dr. Chandan ChowdhuryIndependent Director

FAQ

What is the intrinsic value of Global Surfaces Ltd and is it undervalued?

As of 17 April 2026, Global Surfaces Ltd's intrinsic value is ₹112.87, which is 142.21% higher than the current market price of ₹46.60, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (9.08 %), book value (₹69.9), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Global Surfaces Ltd?

Global Surfaces Ltd is trading at ₹46.60 as of 17 April 2026, with a FY2026-2027 high of ₹145 and low of ₹43.7. The stock is currently near its 52-week low. Market cap stands at ₹197 Cr..

How does Global Surfaces Ltd's P/E ratio compare to its industry?

Global Surfaces Ltd has a P/E ratio of , which is below the industry average of 36.48. This is broadly in line with or below the industry average.

Is Global Surfaces Ltd financially healthy?

Key indicators for Global Surfaces Ltd: ROCE of 1.97 % is on the lower side compared to the industry average of 15.18%. Dividend yield is 0.00 %.

Is Global Surfaces Ltd profitable and how is the profit trend?

Global Surfaces Ltd reported a net profit of ₹-29 Cr in Mar 2025 on revenue of ₹208 Cr. Compared to ₹36 Cr in Mar 2022, the net profit shows a declining trend.

Does Global Surfaces Ltd pay dividends?

Global Surfaces Ltd has a dividend yield of 0.00 % at the current price of ₹46.60. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Global Surfaces Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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