GLOBAL SURFACES Q2 FY27: EBITDA TURNS POSITIVE AT ₹1.3 CR; REVENUE UP 11% YOY, UAE EXPANSION & DOMESTIC SALES INITIATED

• H2 FY27 Outlook: Management focusing on improving operating efficiency, expanding domestic sales, diversifying export markets and managing elevated input costs • Domestic Market Expansion: Commenced domestic dispatches in India from October 2026, supported by an expanded marketing team to reduce dependence on exports • UAE Business Expansion: Plans to strengthen local market presence in the UAE by leveraging its existing Dubai manufacturing facility and regional distribution infrastructure • Dubai Capacity: Operates an engineered quartz manufacturing facility with 6,22,895 square metres annual production capacity, supporting exports to international markets • India Manufacturing: Jaipur facility has annual engineered stone capacity of 5,21,454 square metres, taking combined production capacity to approximately 11.44 lakh square metres • Export Business: Exports contributed approximately 96% of H1 FY27 revenue, highlighting the company's significant dependence on overseas markets • Premium Product Expansion: Focused on scaling Marquartz, a patented premium engineered quartz product designed to replicate natural marble and granite patterns • Technology Partnership: Dubai subsidiary holds exclusive licensed manufacturing rights for certain patented engineered quartz technologies in the MENA region, with first right of refusal in India • Raw Material Pressure: Input costs increased 25–50%, while imported freight costs rose nearly fivefold, affecting operating profitability • Forex Impact: Lower unrealised foreign exchange gains contributed to weaker reported profitability compared with the previous year • Capital Restructuring: Board approved conversion of an additional ₹110.44 Cr unsecured loans into equity of Dubai subsidiary Global Surfaces FZE, subject to completion of regulatory formalities • Natural Stone Business: Discontinued operations at its Jaipur natural stone manufacturing unit effective March 31, 2026, to focus on engineered quartz • H1 Performance: Revenue declined 2.6% YoY to ₹125.3 Cr, while EBITDA increased to ₹9.6 Cr from ₹4.4 Cr YoY; net loss stood at ₹5.3 Cr versus ₹5.1 Cr YoY • H1 Margin Recovery: EBITDA margin improved to 7.66% from 3.42% YoY, although profitability remained negative at the net level • Debt Position: Debt-to-equity ratio stood at 0.58x, while total borrowings declined to approximately ₹155.4 Cr from ₹163.3 Cr in March 2026 • Future Growth Plans: Focused on premium quartz products, expanding US and UAE distribution, increasing domestic penetration, optimising sourcing and improving manufacturing profitability

Global Surfaces Limited

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