Global Surfaces reports mixed financials, U.S. market challenges, warrant forfeiture

Global Surfaces Limited reported its unaudited standalone financial results for the quarter ended September 30, 2025, with Profit Before Tax at INR 67.07 million, contributing to a total income of INR 298.81 million. Profit After Tax for the quarter was INR 49.31 million. For the half-year ended September 30, 2025, standalone Profit Before Tax stood at INR 88.20 million, with a Profit After Tax of INR 63.93 million.

On a consolidated basis, the company experienced a Loss Before Tax of INR (27.76) million for the quarter, and a Loss After Tax of INR (45.53) million, despite a total income of INR 632.41 million. The consolidated results for the half-year ended September 30, 2025, showed a Loss Before Tax of INR (26.59) million and a Loss After Tax of INR (51.25) million. This includes the financial performance of foreign subsidiaries, with one reporting a net loss after tax of INR 99.55 million for the quarter.

The company acknowledged significant exposure to the U.S. market, noting that policy developments and geopolitical shifts are expected to materially affect operations. Additionally, 95,00,000 convertible warrants from a December 2023 issuance lapsed as holders failed to exercise conversion rights. This resulted in the forfeiture of INR 496.07 million received by the company, which has been transferred to Capital Reserve.