Global Surfaces Ltd Corrects Consolidated Financial Figures for Q2 FY26; Highlights Operational Status of Bagru Unit
Global Surfaces Limited has issued a corrigendum regarding its Un-Audited Consolidated Financial Results for the quarter ended June 30, 2026. The correction pertains to an inadvertent clerical error in reporting 'Cost of materials consumed' and 'Changes in inventories of finished goods and work-in-progress'.The necessary adjustments were made as a reclassification between these two line items only. The company confirmed that this correction had no impact on Total Expenses, Total Income, Profit Before Tax, Profit After Tax, Total Comprehensive Income, Earnings Per Share, or any other financial parameters for the quarter.
The corrected figures for the consolidated statement of Un-Audited Financial Results for the quarter ended June 30, 2026 are detailed below:
| Particulars (Consolidated - Quarter ended June 30, 2026) | As Originally Filed (₹ in Millions) | As Corrected (₹ in Millions) |
|---|---|---|
| Cost of materials consumed | 410.97 | 224.31 |
| Changes in inventories of finished goods and work-in-progress | (89.59) | 97.07 |
Financial Performance Overview (Quarter Ended June 30, 2026)
The Unaudited Consolidated Financial Results for the quarter also showed that revenue stood at ₹745.04 million, while Total Expenses were reported at ₹851.27 million. The company recorded a Profit Before Tax of ₹1.17 million and Net Loss After Tax was (₹3.72) million.The financial results for the quarter also included subsidiary performance: one foreign subsidiary reflected total income of ₹407.73 million, net loss after tax of ₹30.57 million, and total comprehensive loss of ₹30.89 million. Another foreign subsidiary showed a total income of ₹12.91 million, net loss after tax of ₹1.72 million, and a total comprehensive loss of ₹1.72 million.
Management Decision on Bagru Unit
The Board of Directors reviewed the financial position and operational performance of the company's Bagru Unit (stone processing). In light of sustained financial and cash losses and continued capacity underutilization due to adverse raw material cost substitution, the Board approved the discontinuation of operations at the Bagru Unit effective from March 31, 2026.Post March 31, 2026, the company is undertaking an orderly closure process, with limited activities being carried out for the evaluation and presentation of a viable plan for the disposal of the asset.
GSLSU Stock Price Movement
Shares of Global Surfaces Limited are surging as of 1:41 PM, gaining ₹1.34 or 5.00% and currently trading at ₹28.15. The stock is seeing robust activity within an intraday range of ₹27.00 to ₹28.15, with a total volume of 59,857 shares traded so far.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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