Global Surfaces Board Approves Q1 FY27 Results, Appoints New CFO, Re-appoints Auditors & Directors
Global Surfaces Limited's Board approved Q1 FY27 results. Mr. Ashish Agarwal appointed CFO, replacing Mr. Mayank Shah. M/s. Ummed Jain & Co. re-appointed as auditors for 5 years. Mrs. Sweta Shah re-appointed as Whole-time Director. 35th AGM scheduled for Sep 19, 2026. Loan conversion to subsidiary approved, ₹2 crore corporate guarantee issued.
The appointment of a new CFO, re-appointment of auditors and directors, and financial decisions regarding the subsidiary are significant operational and governance events that can influence investor confidence and company strategy.
The company approved financial results, made key appointments and re-appointments, and approved strategic financial decisions for its subsidiary, indicating operational progress and stability.
Global Surfaces Limited announced the outcome of its Board Meeting held on August 10, 2026. The Board approved the Un-Audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026, along with the Limited Review Report from statutory auditors M/s. Ummed Jain & Co.
The Board also noted the step-down of Mr. Mayank Shah from the additional charge of Chief Financial Officer (CFO) effective August 10, 2026. Concurrently, Mr. Ashish Agarwal was appointed as the new CFO, effective August 11, 2026. Mr. Agarwal is a qualified Chartered Accountant with six years of experience in financial reporting and compliance.
Further, the Board approved the re-appointment of M/s. Ummed Jain & Co. as Statutory Auditors for a period of five years from the conclusion of the 35th Annual General Meeting (AGM), subject to shareholder approval. Mrs. Sweta Shah was re-appointed as Whole-time Director for a further term of three years from September 11, 2026, to September 10, 2029. Dr. Chandan Chowdhury was re-appointed as an Independent Director for a second term of two consecutive years, effective October 26, 2026.
Mr. L. N. Bakshi, Vice President – Sales & Marketing, was designated as Senior Management Personnel effective August 10, 2026. The Board also approved the Board's Report, including the Management Discussion and Analysis Report and the Report on Corporate Governance, for the financial year ended March 31, 2026, for the upcoming 35th AGM.
The 35th AGM is scheduled to be held on Saturday, September 19, 2026, at 11:00 AM IST via Video Conferencing. Additionally, the Board approved the conversion of a further tranche of an outstanding unsecured inter-company loan granted by the Company to its wholly owned subsidiary, Global Surfaces FZE, Dubai, into equity shares. The conversion, aggregating ₹110.44 crore, is expected to be completed by September 30, 2026.
The Board also approved a Corporate Guarantee via a Standby Letter of Credit (SBLC) of ₹2 crore issued in favour of HDFC Bank Limited, GIFT City, securing loan facilities availed by Global Surfaces FZE. This guarantee is a renewal of an existing facility and does not involve fresh cash outflow.
The Board Meeting commenced at 04:30 PM IST and concluded at 05:15 PM IST on August 10, 2026. The trading window for dealing in the Company's shares will remain closed until 48 hours after the declaration of the Q1 FY27 financial results.
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