Global Surfaces Limited — Updates, 13-11-2024: Press Release

In Q2 FY25, Global Surfaces Limited (GSL) reported revenue of ₹469.7 Mn, an increase of 16.7% year-on-year from ₹402.3 Mn in Q2 FY24. For the first half of FY25, revenue reached ₹1,041.1 Mn, reflecting a robust growth of 35.9% over H1 FY24. However, EBITDA contracted to ₹17.2 Mn with a margin of 3.7%, compared to ₹68.1 Mn and 16.9% in the previous year, primarily due to rising raw material costs and higher freight expenses. The net loss for the quarter was ₹62.0 Mn, resulting in a loss margin of 13.2%.

Looking forward, GSL is optimistic about converting delayed orders as it shifts focus towards domestic market expansion, aiming to capture 10-15% market share in the coming years. The company also launched a new premium product series, “Quartzites,” designed to enhance its market position amid growing demand. GSL is strategically investing in advanced production technology to strengthen its competitive edge and improve profit margins, particularly in the Middle East market, which is experiencing significant infrastructure growth. This direction suggests a positive outlook and potential for increased profitability.