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Global Surfaces MD, chairman and AGM

NSE: GSLSUBSE: 543829Consumer DurablesSmall Cap

Global Surfaces Limited · Face value ₹10 · Listed Mar 2023 · Issue price ₹140
Last close ₹24.60up ₹1.16 (4.95%)BSE ₹24.34

Share price at the NSE close on 27 Oct 2026. Previous close ₹23.44.

27 Oct: open ₹23.00, high ₹24.61, low ₹22.71

52-week range of traded prices to 27 Oct 2026
₹22.71Low, 27 Oct 2026₹139.67High, 19 Nov 2025
Market cap
₹104 Cr2,153rd largest listed
P/E
Owners' profit not stated
P/B
0.39
Dividend yield
Nonein the last 12 months
ROCE
−6.8%
Debt to equity
0.60
Volume, NSE
18,554

Global Surfaces' chairperson and managing director is Mayank Shah, as filed for the quarter to Jun 2026. Its latest annual general meeting was on 19 Sep 2026.

Global Surfaces board of directors

At the end of the quarter to Jun 2026, as the company filed it; changes since are in its announcements.Their trades in its shares

  • Chairperson and managing directorMayank ShahRelated to the promoter
  • Company Secretary and Compliance OfficerDharam Singh Rathore

6 directors4 independent2 executive

  • Mayank Shah · Chairperson and managing directorExecutive · joined Dec 2004 · 1 listed board
  • Sweta ShahExecutive · joined Sep 2021 · 1 listed board
  • Rakesh GroverIndependent · joined Mar 2026 · reappointed Mar 2026 · 3 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Chandan ChowdhuryIndependent · joined Oct 2024 · reappointed Oct 2024 · 20 months as independent · 1 listed board · 1 as independent · 1 committee seat
  • Yashwant Kumar SharmaIndependent · joined Dec 2021 · reappointed Dec 2021 · 54 months as independent · 1 listed board · 1 as independent · 2 committee seats, 1 as chair
  • Sudhir BaxiIndependent · joined Dec 2021 · reappointed Dec 2021 · 54 months as independent · 1 listed board · 1 as independent · 2 committee seats

An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.

1 director who left
  • Ashish Kumar Kachawa, left 30 Mar 2026: Others

Committees and meetings

Who sits on each, and how often they met.Board meeting notices and outcomes

  • Board

    • 25 May 20266 of 6 present4 independent · 55 days in between
    • 30 Mar 20264 of 5 present2 independent · 11 days in between
    • 18 Mar 20265 of 6 present3 independent · 42 days in between
    • 3 Feb 20266 of 6 present3 independent

  • Audit Committee

    Chair Yashwant Kumar Sharma

    Chandan Chowdhury, Rakesh Grover

    • 25 May 20263 of 3 present3 independent · 67 days in between
    • 18 Mar 20263 of 3 present3 independent · 42 days in between
    • 3 Feb 20263 of 3 present3 independent

  • Nomination and remuneration committee

    Chair Chandan Chowdhury

    Yashwant Kumar Sharma, Sudhir Baxi

    • 25 May 20263 of 3 present3 independent · 55 days in between
    • 30 Mar 20263 of 3 present3 independent

  • Stakeholders Relationship Committee

    Chair Rakesh Grover

    Sudhir Baxi, Yashwant Kumar Sharma

    No meeting listed in the filing.

  • Corporate Social Responsibility Committee

    Chair Sweta Shah

    Chandan Chowdhury, Sudhir Baxi

    • 18 Mar 20263 of 3 present2 independent

Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.

Statutory auditor

Named in the results for the quarter to Mar 2026.

  • M/s. Ummed Jain & Co.Peer-review certificate valid to Jul 2028
1 earlier auditor
  • B Khosla & Co.Named in the filing for the quarter to Mar 2025

A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.

Global Surfaces AGM and shareholder votes

Each resolution, how the votes went, and how institutions voted apart from the promoters. A postal ballot is a vote by post or online, held without a meeting.

Annual general meeting, 19 Sep 2026

15,150 shareholders on the register on 14 Sep 2026; present: 4 promoters and 47 others; votes counted by Akshit Kumar Jangid / Pinchaa & Co..

  1. To receive, consider and adopt: (a) The Audited Standalone Financial Statements of the Company for the financial year ended on March 31, 2026, together with the reports of the Board of Directors and Auditors thereon; and (b) The Audited Consolidated Financial Statements of the Company for the financial year ended on March 31, 2026, and Auditor's report thereon.MoreLess
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.64%

    Turnout: all 66.84% · promoters 91.22% · institutions 0.00% · other public 0.09%

  2. To appoint a director in place of Mrs. Sweta Shah (DIN: 06883764), who retires by rotation at this annual general meeting and, being eligible, offers herself for re-appointment.
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.68%

    Turnout: all 66.84% · promoters 91.22% · institutions 0.00% · other public 0.09%

  3. To appoint M/s. Ummed Jain & Co., Chartered Accountants (FRN: 119250W), as Statutory Auditors of the Company and to fix their remuneration.
    Ordinary
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.68%

    Turnout: all 66.84% · promoters 91.22% · institutions 0.00% · other public 0.09%

  4. To re-appoint Dr. Chandan Chowdhury (DIN: 00906211) as a Non-Executive Independent Director of the Company.
    Special
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.68%

    Turnout: all 66.84% · promoters 91.22% · institutions 0.00% · other public 0.09%

  5. To re-appoint Mrs. Sweta Shah (DIN: 06883764) as Whole-time Director of the Company.
    SpecialPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 19.68%

    Turnout: all 66.84% · promoters 91.22% · institutions 0.00% · other public 0.09%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 25 Jun 2026, 4 resolutions

14,550 shareholders on the register on 22 May 2026; votes counted by Akshit Kumar Jangid / Pinchaa & Co..

  1. Appointment of Mr. Rakesh Grover (DIN: 09673773) as a Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 74.41% · promoters 98.94% · institutions 18.25% · other public 3.41%

  2. Redesignation of Mr. Yashwant Kumar Sharma (DIN: 08686725) from Non-Executive Independent Director to Non-Executive Non-Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.01%

    Turnout: all 74.41% · promoters 98.94% · institutions 18.25% · other public 3.41%

  3. Approval of Material Related Party Transactions to be entered into by the Company with its related parties
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 1.94% · promoters 0.00% · institutions 18.25% · other public 3.41%

  4. Approval of Material Related Party Transactions to be entered into by Global Surfaces FZE, wholly owned subsidiary of the Company, with related parties of the Company
    OrdinaryPromoters have an interest in it
    99.99% for0.01% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.02%

    Turnout: all 1.94% · promoters 0.00% · institutions 18.25% · other public 3.41%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 8 Jan 2026, 1 resolution

15,308 shareholders on the register on 5 Dec 2025; votes counted by Akshit Kumar Jangid / Pinchaa & Co..The company's voting result

  1. Appointment of M/s Ummed Jain & Co, Chartered Accountants (FRN:119250W), as Statutory Auditors of the Company to fill Casual Vacancy caused by the Resignation of M/s B. Khosla & Co., Chartered Accountants (FRN: 000205C)MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 4.22%

    Turnout: all 73.26% · promoters 100.00% · institutions 0.00% · other public 0.04%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 18 Sep 2025, 3 resolutions

15,858 shareholders on the register on 11 Sep 2025; present: 4 promoters and 40 others; votes counted by Akshit Kumar Jangid / Pinchaa & Co..The company's voting result

  1. To receive, consider and adopt the: - a) The Audited Standalone Financial Statements of the Company for the Financial Year ended on March 31, 2025 together with the reports of the Board of Directors and Auditors thereon; and b) The Audited Consolidated Financial Statements of the Company for the Financial Year ended on March 31, 2025 and auditor’s report thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.03%

    Turnout: all 3.32% · promoters 4.51% · institutions 0.15% · other public 0.04%

  2. To appoint a director in place of Mr. Ashish Kumar Kachawa (DIN: 02530233), who retires by rotation at this annual general meeting and being eligible, offers himself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.64%

    Turnout: all 3.32% · promoters 4.51% · institutions 0.15% · other public 0.04%

  3. To appoint M/s. Pinchaa & Co. (Firm Reg. No. P2016RJ051800), Company Secretaries, Jaipur, as Secretarial Auditor of the Company and to fix their remuneration
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.64%

    Turnout: all 3.32% · promoters 4.51% · institutions 0.15% · other public 0.04%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 30 Jun 2025, 3 resolutions

14,764 shareholders on the register on 23 May 2025; votes counted by Akshit Kumar Jangid / Pinchaa & Co..The company's voting result

  1. Approval of Material Related Party Transactions with Subsidiaries
    OrdinaryPromoters have an interest in it
    99.94% for0.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 0.49% · promoters 0.00% · institutions 0.15% · other public 2.36%

  2. To approve the raising of funds in one or more tranches by issuance of Equity Shares and/or other Eligible Securities
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 73.74% · promoters 100.00% · institutions 0.15% · other public 2.36%

  3. Approval for increase in Authorised Share Capital and consequent alteration in clause V of the Memorandum of Association
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 73.74% · promoters 100.00% · institutions 0.15% · other public 2.36%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 5 Dec 2024, 1 resolution
  1. To appoint Dr Chandan Chowdhury (DIN: 00906211) as Non-Executive Independent Director of the Company
    Special
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 10.34%

    Turnout: all 70.41% · promoters 96.11% · institutions 0.00% · other public 0.03%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Annual general meeting, 21 Sep 2024, 4 resolutions

Present: 9 promoters and 28 others.

  1. To receive, consider and adopt the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended on March 31, 2024 together with the reports of the Board of Directors and Auditors thereon.MoreLess
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 73.50% · promoters 100.00% · institutions 0.80% · other public 0.99%

  2. To appoint a Director in place of Mrs. Sweta Shah (DIN: 06883764), who retires by rotation and being eligible, offers herself for re-appointment.
    Ordinary
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.06%

    Turnout: all 73.50% · promoters 100.00% · institutions 0.80% · other public 0.99%

  3. To appoint a Director in place of Mrs. Sweta Shah (DIN: 06883764), who retires by rotation and being eligible, offers herself for re-appointment.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.08%

    Turnout: all 73.50% · promoters 100.00% · institutions 0.80% · other public 0.99%

  4. To approve revision in the remuneration of Mr. Mayank Shah (DIN: 01850199), Chairman and Managing Director of the Company.
    SpecialPromoters have an interest in it
    100.00% for0.00% against

    Against: promoters 0.00% · institutions 0.00% · other public 0.44%

    Turnout: all 73.50% · promoters 100.00% · institutions 0.80% · other public 0.99%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Postal ballot, 25 Jul 2024, 2 resolutions
  1. To approve creation of charges, securities on the assets/ undertakings of the company, under section 180(1)(a) of the Companies Act, 2013
    Special
    99.97% for0.03% against

    Against: promoters 0.00% · institutions 0.00% · other public 57.04%

    Turnout: all 73.47% · promoters 100.00% · institutions 0.75% · other public 0.24%

  2. Approval of material related party transactions with subsidiaries
    OrdinaryPromoters have an interest in it
    75.94% for24.06% against

    Against: promoters 0.00% · institutions 0.00% · other public 59.45%

    Turnout: all 0.10% · promoters 0.00% · institutions 0.75% · other public 0.23%

For and against are per cent of the votes cast. Turnout is the votes cast as a per cent of the shares each group holds. Institutions are funds, insurers, banks and foreign investors. An ordinary resolution passes with more than half the votes cast, a special one with at least three quarters.

Fines, tax disputes and stakes in unlisted companies

Reported in the filing for the quarter to Jun 2026.

  • Unlisted stake heldGlobal Surfaces FZESince 17 Jun 2026

    0.00% bought in the quarter; holding 100.00%, from 100.00%

  • Fine or penaltyDeputy Commissioner of Income Tax, Central Circle 2(2), Kolkata, Income Tax DepartmentSince 30 Jun 2026

    Order passed under Section 271D of the Income-tax Act, 1961, imposing a penalty of INR 1,73,99,169/- (Rupees One Crore Seventy-Three Lakh Ninety-Nine Thousand One Hundred Sixty-Nine only) for Assessment Year 2019-20, for alleged contravention of Section 269SS of the Income-tax Act, 1961

    Acceptance of loans/deposits aggregating INR 1,73,99,169/- during A.Y. 2019-20 otherwise than by an account payee cheque, account payee bank draft or electronic clearing system through a bank account, as required under Section 269SS of the Income-tax Act, 1961. The contravention was identified from Sl. No. 31(a) of the Tax Audit Report in Form 3CD for the relevant year.MoreLess
  • Tax disputeIncome Tax DepartmentSince 31 Mar 2022
    The Company has preferred appeals against the assessment orders passed on 31st March 2022 under Section 153A read with Section 143(3) of the Income Tax Act, 1961 for Assessment Years 2013-14 to 2020- 21. The estimated income tax demand, for which Company have preferred the appeals is INR 42.57 Million and the current outstanding demand stands at INR 40.89 Million. The appeals filed primarily contesting that the additions made are unjustified, not based on incriminating material, and have been made without properly appreciating the facts and legal position. Accordingly, the Company has challenged the said additions before the Commissioner of Income Tax (Appeals). The appeals are currently pending adjudication.MoreLess
    At the filing before: Pending for adjudication before Commissioner of Income Tax (Appeals).
  • Tax disputeIncome Tax DepartmentSince 31 Mar 2026
    The Company has filed an appeal against the said Assessment Order/Demand Notice before the Commissioner of Income Tax (Appeals) under Section 246/246A of the Income-tax Act, 1961, on April 1, 2026, disputing the addition to income of INR 42,16,73,204/- and the consequent demand of INR 37,48,89,740/-. The appeal is currently pending adjudication.MoreLess
    At the filing before: The Company had received an Assessment Order under Section 143(3) read with Notice of Demand under Section 156 of the Income-tax Act, 1961 for AY 2023-24, raising a demand of INR 37,48,89,740/-, passed by ACIT, Central Circle 2(2), Kolkata. The Company was reviewing the order and proposed to take appropriate remedial steps, including filing an appeal, as disclosed vide Regulation 30 intimation dated March 31, 2026.MoreLess

In the company's own words, from its latest governance filing.

Investor complaints and compliance

Quarter by quarter.

Investor complaints received and resolved, the company's own count

  • Received
  • Resolved
00Dec 2400Mar 2500Jun 2500Sep 2500Dec 2511Mar 2600Jun 26

Open at the quarter's end

0Dec 240Mar 250Jun 250Sep 250Dec 250Mar 260Jun 26
None open at any quarter's end.
The board is made up as the listing rules require
Yes
The board has a regular chairperson
Yes
The company has a risk management committee
No
The chair is related to the managing director
Yes
The filing has a part on fines and penalties
Yes
The filing has a part on tax disputes
Yes
There was a cyber security incident in the quarter
No

The company's own answers in its filing.