Global Surfaces Ltd Directors Report

To,

The Members of

Global Surfaces Limited

Your directors are pleased to present the 35th Annual Report on the business and operations of the Company together with the audited standalone & consolidated financial statements for the financial year ended on March 31, 2026..

( In Millions)

Particulars	Standalone March 31, 2026	Standalone March 31, 2025	Consolidated March 31, 2026	Consolidated March 31, 2025
Revenue from Operations	748.36	1419.12	2332.39	2076.44
Other Income	373.93	228.86	216.98	72.38
Total Income	1122.29	1647.98	2549.37	2148.82
Net Profit/(Loss)for the period (Before Tax, Exceptional and/or Extraordinary Items)	164.41	118.78	(230.02)	(249.28)
Net Profit/(Loss)for the period Before Tax (After Exceptional and/or Extraordinary Items)	164.41	118.78	(230.02)	(249.28)
Net Profit/(Loss)for the period After Tax (After Exceptional and/or Extraordinary Items)	76.12	78.33	(318.39)	(289.00)
Total Comprehensive Income for the period [Comprising Profit/(Loss)for the period (After Tax) and Other Comprehensive Income (After Tax)]	76.98	78.44	(328.27)	(284.84)
Equity Share Capital	423.82	423.83	423.82	423.83
Other Equity [Reserves (Excluding Revaluation Reserve)]	3043.58	2969.28	2282.00	2599.58
Earnings Per Share (of 10.00 each) (For continuing and discontinued operations):
1. Basic	1.80	1.85	(7.18)	(6.73)
2. Diluted	1.80	1.85	(7.18)	(6.73)

2. STATE OF THE COMPANYS AFFAIRS AND MAJOR DEVELOPMENTS

Global Surfaces Limited (the Company) continues to strengthen its position as a technology- driven, innovation- led manufacturer of engineered surfaces. The Company operates its manufacturing facilities through an integrated multi- shore model i.e. two engineered surface manufacturing units in Jaipur, India (at Mahindra World City SEZ, Sanganer) and in Dubai, UAE (through its wholly owned subsidiary, Global Surfaces FZE, at the Jebel Ali Free Zone). The Company also operates through its wholly owned subsidiaries in the United States - Global Surfaces Inc. and Superior Surfaces Inc. - which support

its distribution and market presence in North America. These multi- shore operations are strategically located to serve key global markets efficiently while mitigating region- specific risks.

Segment-wise Position of Business and Operations

The Group is engaged in the manufacturing and processing of natural stone and engineered quartz used in the counter tops and various other surface applications. The Group sells its products across three geographic segments: India, United States of America (USA), and United Arab Emirates (UAE). The segment- wise performance for FY 2025- 26, as reflected in the audited consolidated financial statements, is summarised below:

( in Millions)

Particulars	India	USA	UAE	Inter-segment Eliminations	Total
Segment Revenue	748.36	523.43	1,430.21	(369.62)	2,332.39
Segment Results (PBT)	1644.41	(29.01)	(391.76)	26.33	(230.02)
Segment Assets	4,159.54	348.41	4,148.42	(3,249.47)	5,406.90
Segment Liabilities	692.15	330.91	4,635.37	(2,960.46)	2,697.97

Previous year figures: Segment Revenue - India 1,419.12 Mn, USA 831.41 Mn, UAE 643.66 Mn, Eliminations (817.75) Mn, Total 2,076.44 Mn; Segment Results - India 118.78 Mn, USA 114.44 Mn, UAE 358.74 Mn, Eliminations (118.8) Mn, Total 249.28) Mn

India Segment

The India segment encompasses the Companys engineered quartz manufacturing operations at Mahindra World City SEZ, Sanganer, Jaipur, Rajasthan. Segment revenue for FY 2025- 26 stood at 748.36 million, as compared to 1,419.12 million in the previous year. The decline in India segment revenue reflects the strategic realignment of production and export flows towards the UAE facility, particularly in the context of elevated tariffs on India- origin quartz exports to the U.S. market during the year. Notwithstanding the revenue compression, the India segment delivered a segment result (profit before tax) of 1644.41 million, compared to 118.78 million in the previous year, reflecting improved operating efficiency and a higher contribution from other income including intra- group management fees and reimbursements. Segment assets stood at 4,159.54 million and segment liabilities at 692.15 million as at March 31, 2026.

The India segment also included the natural stone processing operations at the Bagru Unit, RILCO Industrial Area, Bagru Extension, Jaipur, Rajasthan, until its discontinuation effective March 31, 2026. After careful evaluation by the Audit Committee the Board of Directors the Company at its meeting held on February 3, 2026, approved the discontinuation of operations at Companys Natural Stone Processing Unit at Bagru, Jaipur, effective from March 31, 2026. This decision was driven by sustained financial losses, cash losses, significant under- utilisation of installed capacity, and prevailing market conditions affecting the natural stone segment. With the cessation of Bagru Units operations, the India segment is now a focused, engineered quartz- led operation.

USA Segment

The USA segment represents the Groups sales, distribution, and customer engagement operations in the North American market, supported by Companys wholly owned subsidiaries Global Surfaces Inc. and Superior Surfaces Inc. The United States continues to be one of the Groups most significant export destination markets. Segment revenue

for FY 2025- 26 was 523.43 million, compared to 831.41 million in the previous year. The decline reflects the impact of elevated tariffs on India- origin quartz exports, evolving trade policy uncertainties, and related disruptions to shipment cycles and buying patterns in the U.S. market. The USA segment recorded a segment loss of 29.01 million, compared to 7.44 million in the previous year. Segment assets stood at 348.41 million and segment liabilities at 330.91 million as at March 31, 2026.

UAE Segment

The UAE segment comprises the operations of Global Surfaces FZE at the Jebel Ali Free Zone, Dubai, UAE, the Companys state- of- the- art greenfield engineered surface manufacturing facility that commenced commercial production in February 2024. FY 2025- 26 represented the second full year of commercial operations for the UAE facility, with the segment contributing revenue of 1,430.21 million, now the largest revenue- contributing segment within the Group, as compared to 643.66 million in the previous year, reflecting a significant scale- up of production and customer deliveries. The UAE segment recorded a segment loss of 391.76 million, compared to 358.74 million in the previous year, primarily attributable to the continued absorption of full depreciation and finance costs on the new facility during the ongoing ramp- up and stabilisation phase, as well as the impact of geopolitical disruptions in the Middle East and Red Sea region on logistics and demand. Segment assets stood at 4,148.42 million and segment liabilities at 4,635.37 million as at March 31, 2026.

Industry Outlook and Peer Positioning

The global quartz market was valued at approximately USD 8.4 billion in 2025 and is projected to reach USD 12.7 billion by 2034, exhibiting a CAGR of approximately 4.7%. The structural demand drivers, construction activity, home renovation trends, and increasing preference for durable, low- maintenance surfaces remain broadly intact. However, the near- term environment for Indian quartz exporters has been significantly impacted by evolving trade policies in the United States.

The U.S. market, which remains one of the Companys principal export destinations, was subject to significant trade policy developments during and immediately following the year under review. The Company faced the impact of elevated tariffs on India-origin exports to the U.S. , as well as geoplitical uncertanities arising from the middle east and Red Sea region, which effected demand, pricing and shipment cycles.

Foreign-manufactured quartz surface products currently represent approximately 90% of the U.S. market, which led the QMAA to file the Section 201 safeguard petition arguing that import-led pressures were destroying American manufacturing capacity and threatening over 100,000 jobs supported by the domestic quartz industry. The potential imposition of a broad-based global safeguard tariff is expected to be a watershed development for all quartz-exporting nations, including India. For Indian manufacturers specifically, the challenge is compounded by competitive pressure from lower-cost quartz manufacturers in Southeast Asia.

Strategic Advantage through Multi-Shore Operations

With integrated manufacturing capabilities in both India and the UAE, the Company continues to benefit from its multi-shore model, enabling it to respond with agility to dynamic global trade conditions, supply chain disruptions, and customer-specific requirements. The Dubai-based facility of Global Surfaces FZE provides meaningful potential tariff advantages, particularly in the context of the evolving U.S. trade environment, and enhances delivery speed and logistics optimisation for critical international markets, including the U.S., Europe, and the Middle East.

With the conclusion of the Bagru Units operations, the Company enters FY 2026-27 as a leaner, more focused manufacturer with a sharpened strategic emphasis on high-value engineered quartz products. The restructuring initiatives undertaken during the year, combined with the investments in product innovation and subsidiary capitalisation, are expected to lay the foundation for improved financial performance and sustainable long-term growth.

Further details on the business overview, performance metrics, and future outlook are discussed in the Management Discussion & Analysis Report forming part of this Annual Report.

3. FINANCIAL PERFORMANCE Standalone Performance

For the financial year ended March 31, 2026, the standalone financial performance of the Company reflected the impact of a challenging external environment, characterised by elevated tariffs on India-origin quartz exports to the U.S. market, geopolitical disruptions in the Middle East and Red Sea region, and subdued construction activity in key export markets. Total income from operations stood at 748.36 million, as compared to 1,419.12 million in the previous year. The decline was attributable to reduced export volumes from the India-based manufacturing unit, primarily on account of the elevated trade headwinds impacting India-origin shipments to the U.S. market, and the ongoing strategic realignment of the Companys production and dispatch model towards its UAE-based subsidiary.

Total income, including other income of 373.93 million, stood at 1,122.29 million for FY26, as compared to 1,647.98 million in FY25. The high level of other income in FY26 is principally attributable to management fees, foreign exchange gains, and reimbursements received from subsidiaries as part of the intra-group arrangements integral to the multi-shore operating model.

Notwithstanding the revenue compression, the Company maintained standalone profitability. Net profit before tax stoodat164.41million,comparedto118.78millioninFY25. Net profit after tax for FY26 was 76.12 million, as compared to 78.33 million in the previous year. Total comprehensive income for the year was 76.98 million, compared to 78.44 million in FY25. Basic and diluted Earnings Per Share (EPS) for the year stood at 1.80, compared to 1.85 in the previous year.

Consolidated Performance

At the consolidated level, the financial results for FY 2025-26 reflect the continuing investment and stabilisation phase of the Groups operations, most notably at Global Surfaces FZE, which bore the full weight of operating costs, depreciation, and finance costs arising from its state-of-the-art UAE facility during a period of market headwinds and trade uncertainty. Total income from operations on a consolidated basis was 2,332.39 million, compared to 2,076.44 million in FY25, reflecting a meaningful 12.3% growth in revenue driven by increased throughput from the UAE facility and a broader geographic spread of customers. Total income including other income stood at 2,549.37 million, as against 2,148.82 million in the previous year.

However, the Group recorded a net loss before tax of

(230.02) million, as compared to a net loss before tax of (249.28) million in FY25, reflecting early signs of improvement at the subsidiary level. Net loss after tax was

(318.39) million, compared to a net loss of (289.00) million in FY25. Total comprehensive loss for the year was (328.27) million, compared to (284.84) million in FY25. The Groups consolidated performance continues to reflect the transitional nature of building a multi-country, premium-product manufacturing business. With the Dubai facility now in a more advanced stage of the ramp-up, the commercialisation of the Marquartz and Quartzites product lines, the strengthened capital structure of Global Surfaces FZE following the Loan to equity conversion aggregating to USD 11,120,997 (equivalent lo INR 1,000 Million) and the discontinuation of the loss-making Bagru Unit, the management believes that the structural foundations for improved consolidated financial performance in FY 2026-27 are in place. Basic and diluted EPS on a consolidated basis stood at (7.18) for FY26, compared to (6.73) in FY25.

4. CHANGE IN THE NATURE OF BUSINESS

During the financial year under review, the Board of Directors, after review by the Audit Committee, approved the discontinuation of operations at the Companys natural stone processing unit at Bagru, Jaipur (Bagru Unit), with effect from March 31, 2026, in view of sustained financial and cash losses and continued capacity under-utilisation. The Bagru Unit has accordingly been treated as a discontinued operation in the financial statements for FY 2025-26 in terms of Ind AS 105. Post March 31, 2026, the Company is in the process of an orderly closure of the Bagru Unit, and the Board has accorded in-principle approval for preparing a commercially viable disposal plan for the said unit. Save and except for the above, there was no change in the nature of business of the Company during the financial year under review.

5. DIVIDEND

In light of the performance in a challenging macroeconomic environment, and with a focus on prudently managing resources, the Board of Directors has not recommended any dividend for the financial year ended March 31, 2026. The Board remains firmly committed to enhancing long-term shareholder value through strategic initiatives, innovation, and disciplined capital allocation.

6. TRANSFER TO RESERVES

The Board of Directors has not transferred any amount to the General Reserve for the financial year ended March 31, 2026.

7. SHARE CAPITAL Authorized Share Capital

The Authorised share capital of the Company was increased from 55,00,00,000 (Rupees Fifty-Five Crores only) to 65,00,00,000 (Rupees Sixty-Five Crores only) vide the resolution passed by shareholders through postal ballot on June 30, 2025. As on March 31, 2026, the authorized share capital stood at 65,00,00,000 (Rupees Sixty-Five Crores only), divided into 6,50,00,000 equity shares of 10 each.

Issued, Subscribed and Paid-Up Share Capital

There has been no change in the Issued, Subscribed and Paid-up share capital of the Company during the financial year under review. The issued, subscribed and paid-up equity share capital of the Company at 42,38,18,180 (Rupees Forty-Two Crores Thirty-Eight Lakhs Eighteen Thousand One Hundred and Eighty only), comprising 4,23,81,818 equity shares of 10 each as on March 31, 2026.

The Board of Directors, at its meeting held on May 28, 2025, approved, in principle, a proposal for raising of funds by way of issuance of Securities, for an aggregate amount not exceeding 1,55,00,00,000 (Rupees One Hundred Fifty-Five Crores only), through one or more modes including public issue, rights issue, preferential allotment, private placement, or Qualified Institutions Placement (QIP), in one or more tranches, subject to receipt of all requisite regulatory and statutory approvals. The said proposal was approved by the shareholders of the Company by way of a special resolution passed through postal ballot on June 30, 2025. The said resolution constitutes an enabling approval, and any allotment of Securities pursuant thereto was required to be completed within 365 days from the date of passing of the special resolution, i.e., on or before June 29, 2026, or within such extended period as may be permitted under applicable law. No securities were issued or allotted pursuant to the above resolution during the financial year under review.

8. PREFERENTIAL ISSUE OF CONVERTIBLE WARRANTS

The Company had, on December 4, 2023, issued and allotted 95,00,000 convertible warrants on a preferential basis to individuals belonging to the promoter and non-promoter categories, at an issue price of 210.00 per warrant, in accordance with the provisions of the Securities

GLOBAL SURFACES LIMITED 01 36 37 114 115 248 Corporate Overview Statutory Reports Financial Section Boards Report

and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations) and the applicable provisions of the Companies Act, 2013.

The convertible warrants carried a tenure of 18 (eighteen) months from the date of allotment, within which the warrant holders were entitled to exercise the right to convert each warrant into one equity share of the Company upon payment of the balance 75% of the issue price. Accordingly, the last date for exercise of the conversion right was June 3, 2025.

The warrant holders did not exercise their right to convert the warrants into equity shares within the stipulated conversion period. Consequently, in terms of the SEBI ICDR Regulations and the terms and conditions of the issue, all 95,00,000 convertible warrants stand lapsed and cancelled upon expiry of the conversion period, and the subscription amount of ?49,87,50,000 (representing 25% of the total consideration) received by the Company from the warrant holders stands forfeited. The forfeited amount has been transferred to Capital Reserve forming part of Other Equity, in accordance with applicable provisions.

9. SUBSIDIARIES, JOINT VENTURES & ASSOCIATES

As on March 31, 2026, the Company has three subsidiaries, the details of which are as follows:

Global Surfaces FZE (GSF)

GSF, incorporated in the Jebel Ali Free Zone, Dubai, is a wholly-owned subsidiary of the Company. It is engaged in the manufacturing of engineered quartz surfaces. The Companys advanced production facility in Dubai commenced commercial operations on February 9, 2024, supporting the Companys multi-shore manufacturing strategy. GSF has been identified as a Material Subsidiary of the Company in terms of Regulation 16(1)(c) of SEBI (LODR) Regulations read with Companys policy for determining Material Subsidiary.

Global Surfaces Inc. (GSI)

GSI is incorporated in the State of Delaware, USA, and is a 99.90% subsidiary of the Company. It is engaged in the purchase, sale, supply, and distribution of quartz, marble, granite, and similar surface materials. GSI serves as the Companys commercial arm in the U.S., facilitating efficient market access and customer service. GSI has been identified as a Material Subsidiary of the Company in terms of Regulation 16(1)(c) of SEBI (LODR) Regulations read with Companys policy for determining Material Subsidiary.

Superior Surfaces Inc. (SSI)

SSI, incorporated on May 5, 2023, in the State of Texas, USA, is a 50% held subsidiary of the Company. The Company exercises control over SSI, and the entity is accordingly considered a subsidiary under applicable accounting standards. SSI is engaged in the distribution of artificial stones, including engineered quartz, focused on enhancing the Groups distribution footprint in southern U.S. markets.

There has been no material change in the nature of the business of the subsidiaries.

Pursuant to Section 129(3) of the Companies Act, 2013 (the Act), the Company has prepared Consolidated Financial Statements, which form part of this Annual Report. Pursuant to the provisions of Section 134 of the Act read with the Companies (Accounts) Rules, 2014, the highlights of performance and financial position of the subsidiaries of the Company for the year ended March 31, 2026, and their contribution to the overall performance of the Company are as under:

Global Surfaces FZE, UAE recorded a significant scale-up in its operations during FY 2025-26, its second full year of commercial production at the Jebel Ali Free Zone, Dubai facility. Revenue from contract with customers more than doubled to AED 59,616,797 in FY 2025-26, as compared to AED 27,948,666 in the previous year, reflecting a growth of approximately 113.3% driven by substantially increased production output and a broader customer base across the USA, and the Middle East. At the gross profit level, the subsidiary demonstrated strong manufacturing economics, with a gross profit of AED 32,426,365 (gross margin of approximately 54.4%), as compared to AED 17,161,405 (gross margin of approximately 61.4%) in the previous year. The modest moderation in gross margin percentage reflects the higher scale of production and associated material cost absorption during the ramp-up phase.

Notwithstanding the substantial revenue growth, the subsidiary incurred a loss before tax of AED 16,329,990 (FY25: AED 15,576,939) and a loss after tax of AED 16,333,223 (FY25: AED 15,576,939). The loss is primarily attributable to continued absorption of depreciation, finance costs on the newly commissioned facility; a significant increase in other operating expenses along with higher selling, distribution, and administrative costs commensurate with the scale-up of operations; and the impact of geopolitical disruptions in the Middle East on logistics costs and delivery timelines. As at March 31, 2026, the subsidiarys total assets stood at AED 160,978,710.

Global Surfaces Inc., USA recorded revenue from operations of USD 4,563,119 in FY 2025-26, as compared to USD 8,870,774 in the previous year, representing a decline of approximately 48.6%. This sharp decline is directly attributable to elevated tariffs on India-origin quartz exports to the United States, evolving U.S. trade policy uncertainties, and consequent disruptions to buying patterns and order cycles among U.S. customers. The subsidiary reported a loss before and after tax of USD 8,887 for the year, as compared to a profit after tax of USD 6,942 in FY 2024-25. Total assets stood at USD 2,311,042 as at March 31, 2026, including trade receivables of USD 1,747,910. The subsidiary continues to serve as the Companys primary sales and distribution interface in the North American market and is expected to benefit from the potential realignment of supply flows from the UAE facility in response to the evolving U.S. trade environment.

Superior Surfaces Inc., USA reported revenue from operations of USD 1,364,097 in FY 2025-26, as compared to USD 1,040,881 in the previous year, registering a growth of approximately 31.1%. However, the subsidiary reported a loss before and after tax of USD 319,598, significantly widening from a loss of USD 86,235 in the previous year. The widening of losses, despite revenue growth, reflects the impact of higher cost of goods sold relative to the prevailing market pricing environment, increased employee benefit expenses, and the absence of inventory-linked cost offsets, partly offset by a substantial reduction in inventory levels from USD 1,854,251 to USD 954,366, indicating active inventory rightsizing during the year. As at March 31, 2026, the subsidiarys total assets stood at USD 13,70,037.

A statement containing the salient features of the financial statements of the Companys subsidiaries in Form AOC-1 is annexed as Annexure I to this Report.

The audited standalone and consolidated financial statements, along with other statutory documents, are available on the Companys website at www.globalsurfaces.com . The financial statements of the subsidiaries are also available on the website and can be accessed under the Investor Relations section. These documents are available for inspection at the Registered Office of the Company during business hours on all working days.

The Company has also formulated a Policy on Determining Material Subsidiaries, in line with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI (LODR) Regulations). The policy is available on the Companys website and can be accessed at: https://globalsurfaces.com/corporate-governance

No entity ceased to be a subsidiary, joint venture, or associate of the Company during the financial year ended March 31, 2026.

10. RELATED PARTY TRANSACTIONS

The Company and its Subsidiaries adhere to the highest ethical standards, transparency, and accountability in all related party transactions, conducting them solely in the ordinary course of business and at arms length. Pursuant to Section 188 of the Act, and Regulation 23 of the SEBI (LODR) Regulations as amended from time to time, all contracts, transactions, and arrangements entered into during the financial year with related parties were conducted on an arms length basis and within the ordinary course of business.

During the fiscal year 2025-26, all related party transactions were reviewed and approved by the Audit Committee. Transactions of a repetitive nature received prior omnibus approval from the Audit Committee. Quarterly, a detailed statement outlining the nature, value, and terms of these transactions entered pursuant to the omnibus approval so granted, was presented to the Audit Committee. None of the transactions with related parties falls under the scope of Section 188(1) of the Act. Particulars of contracts or arrangements with related parties referred to Section 188(1) of the Act, in the prescribed form AOC-2 is annexed herewith as Annexure II.

The Company has also implemented a policy on the materiality of related party transactions and their handling, accessible on the Companys website at https://globalsurfaces.com/corporate-governance

11. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENT

Pursuant to the provisions of section 186 of the Act and Schedule V of the SEBI (LODR) Regulations, particulars of the loans, guarantees and investments made are disclosed in the notes to the financial statements.

During the financial year under review, the Board of Directors approved, in two tranches at its meetings held on February 3, 2026 and March 18, 2026, respectively, the conversion of a portion of unsecured inter-company loan aggregating to USD 11,120,997 (equivalent to INR 1,000 Million as on the reference date of December 31, 2025) extended by the Company to its wholly owned subsidiary, Global Surfaces FZE, into fully paid-up equity shares of the said subsidiary. The issue price was determined on the basis of an independent valuation by a Registered Valuer, supported by a Fairness Opinion from a SEBI-registered Category I Merchant Banker. The transaction involved no

cash outflow from the Company. Pending completion of ODI- related filings under FEMA and regulatory formalities with JAFZA, Dubai, the aggregate amount stands classified as advance towards equity/share subscription in the financial statements as at March 31, 2026. Full particulars are disclosed in the Notes to the Financial Statements forming part of this Annual Report.

12. DIRECTORS AND KEY MANAGERIAL PERSONNEL

Directors

Your Company maintains an optimal and compliant mix of Executive and Non- Executive Directors, in accordance with the provisions of Regulation 17 of the SEBI (LODR) Regulations, as amended.

As on March 31, 2026, the composition of the Board of Directors is as follows:

Mr. Mayank Shah (DIN: 01850199) - Chairman, Managing Director and Chief Financial Officer Mr. Sweta Shah (DIN: 06883764) - Whole- time Director Mr. Yashwant Kumar Sharma (DIN: 08686725) - Non- Executive, Independent Director Mr. Sudhir Basi (DIN: 00092322) - Non- Executive, Independent Director Dr. Chandan Chowdhury (DIN: 00906211) - Non- Executive, Independent Director Mr. Rakesh Grover (DIN: 09673773) - Additional, Non- Executive, Independent Director

Key Managerial Personnel (KMP)

The following individuals were designated as Key Managerial Personnel of the Company as on March 31, 2026, pursuant to Section 203 of the Act:

Mr. Mayank Shah - Chairman, Managing Director and Chief Financial Officer Mr. Sweta Shah - Whole- time Director Mr. Dharam Singh Rathore - Company Secretary and Compliance Officer

Changes during the Financial Year and up to the Date of this Report

Board of Directors:

Mr. Ashish Kumar Kachawa (DIN: 02530233), ceased to be a director due to resignation from his position

as Non- Executive, Non- Independent Director of the Company effective from Close of business hours on March 30, 2026.

Mr. Rakesh Grover (DIN: 09673773) was appointed as an Additional Director (under the category Non- Executive, Independent) by the Board w.e.f. March 30, 2026 for a term of two consecutive years on the Board of a Company, subject to the approval of Shareholders. The appointment of Mr. Rakesh Grover as Non- Executive Independent Director was confirmed by the Shareholders vote a special resolution passed through Postal Ballot on June 25, 2026.

Mr. Yashwant Kumar Sharma (DIN: 06886725) Non- Executive, Non- Independent Director was redesignated as Non- Executive, Non- Independent Director of the Company effective from July 1, 2026 vote a special resolution passed by the shareholders through Postal Ballot on June 25, 2026.

Mr. Sweta Shah (DIN: 06883764) has been re- appointed as Whole- time Director by the Board for a period of 3 (three) years starting from September 11, 2026, subject to the approval of the shareholders.

Key Managerial Personnel:

Mr. Kamal Kumar Somani ceased to the Chief Financial Officer of the Company due to resignation from office effective from close of working hours on July 25, 2025.

Mr. Mayank Shah (DIN: 01850199) was appointed as Chief Financial Officer of the Company with effect from October 17, 2025, in addition to his existing role and position in the company as Chairman and Managing Director of the company.

Mr. Mayank Shah (DIN: 01850199) stepped down from additional charge as Chief Financial Officer of the Company with effect from closure of business hours on August 10, 2026.

Mr. Ashish Agarwal was appointed as Chief Financial Officer of the Company with effect from August 11, 2026.

Director Retiring by Rotation

In accordance with the provisions of Section 152 of the Act, and the Articles of Association of the Company, Mrs. Sweta Shah (DIN: 06883764) - Whole- time Director, is liable to retire by rotation at the ensuing Annual General Meeting (AGM) and, being eligible, has offered herself for reappointment.

Boards Report

The resolution for her re- appointment along with requisite details, as mandated under the SEBI (LODR) Regulations and Secretarial Standards- 2 (SS- 2) issued by the ICSI, forms part of the Notice of the AGM and Explanatory Statement accompanying the Notice.

13.DECLARATION BY INDEPENDENT DIRECTORS

Pursuant to the provisions of Section 149(7) of the Act and Regulation 25 of the SEBI (LODR) Regulations, all Independent Directors of the Company have submitted declarations confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1)(b) of the SEBI LODR Regulations.

Further, the Independent Directors have also affirmed their compliance with the requirement of online registration with the Indian Institute of Corporate Affairs (ILCA) for inclusion of their names in the Independent Directors databank maintained by the ILCA. With respect to the proficiency requirement under Section 150(1) of the Act, read with applicable rules, the Board has taken on record the declarations from Independent Directors stating either:

their exemption from the online proficiency self- assessment test based on their prescribed qualifications and experience, or their successful completion of the test conducted by the Institute, if required.

In the opinion of the Board there has been no change in the circumstances which may affect their status as Independent Directors of the Company and the Board is satisfied that all Independent Directors of the Company are persons of integrity and possess the necessary expertise, experience, and proficiency in their respective fields of specialization.

Appointment of Mr. Rakesh Grover as Independent Director and Competency Assessment by the Board

During the year under review, Mr. Rakesh Grover (DIN: 09673773) was appointed as an Additional Director in the category of Non- Executive Independent Director by the Board of Directors on March 30, 2026, subject to the approval of shareholders. The appointment of Mr. Rakesh Grover as Non- Executive Independent Director was confirmed by the Shareholders vote a special resolution passed through Postal Ballot on June 25, 2026.

Mr. Rakesh Grover is a seasoned banking and financial services professional with over 37 years of rich and diverse

experience across public sector banking, international banking, treasury, mutual funds, asset reconstruction and NBFC- related ecosystems. He superannuated from Punjab National Bank as Chief General Manager (CGM) and has held several senior leadership positions across recovery, compliance, international operations, treasury and administration. He holds an MBA (Finance) from FMS, Delhi University, is an ACWA, a CAIIB qualified professional, and also holds a Diploma in Treasury, Investment & Risk Management from the Indian Institute of Banking, Mumbai.

Over the course of his career, Mr. Grover has demonstrated strong expertise in regulatory compliance, risk management, treasury management, credit appraisal, project finance, stressed asset resolution and strategic governance. He has led large and complex assignments in turnaround and recovery, including restructuring, ARC transactions, NCLT- linked matters and consortium- led resolutions. As CGM - Recovery Division at Punjab National Bank, he played a key role in significantly improving asset quality and recovery outcomes. He has also served as Chief Executive of PNB Hong Kong, where he strengthened treasury and risk management functions and delivered strong operating performance.

The Nomination and Remuneration Committee (NRC) and the Board of Directors, after a thorough evaluation of his qualifications and experience, concluded that Mr. Rakesh Grover possesses the following key skills and competencies relevant to the role of an Independent Director on the Board of the Company:

Regulatory Compliance and Governance Banking, Treasury and Financial Oversight Risk Management and Internal Controls Recovery, Restructuring and Stressed Asset Resolution Board Leadership and Strategic Management

The Board is of the considered view that Mr. Grovers appointment is in the best interest of the Company, and his multifaceted background will bring valuable insight and independent judgment to the Board.

The terms and conditions of appointment of Independent Directors are available on the Companys website and can be accessed at https://globalsurfaces.com/corporate- governance.

14. FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

In compliance with the requirements of the Act and the SEBI LODR Regulations, the Company has implemented a familiarization programme for Independent Directors. This programme aims to acquaint them with their roles, rights, and responsibilities as Directors, as well as with the functioning of the Company, the nature of its industry, business model, and related matters.

All newly appointed Independent Directors undergo an orientation program designed to enhance their knowledge and skills. This orientation equips them to effectively discharge their duties in the best interest of the Company. Details of the familiarization programmes provided to Independent Directors are available on the Companys website at https://globalsurfaces.com/corporate- governance

15. PERFORMANCE EVALUATION

Performance evaluation is integral to enhancing the effectiveness of the Board and its Directors, offering benefits to both individuals and the Company as a whole. In accordance with the provisions of Section 134(3)(p) read with Section 178(2) of the Companies Act, 2013 (the Act), Rule 8(4) of the Companies (Accounts) Rules, 2014, Regulation 17(10) and Regulation 19(4) read with Part D of Schedule II of the SEBI LODR Regulations, and in line with the Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India (SEBI) and the provisions of Secretariat Standard- 1 (SS- 1), the Board of Directors conducted the annual performance evaluation of the Board as a whole, its Committees, Individual Directors and the Chairman of the Company for the financial year 2025- 26.

Evaluation Framework and Criteria

The Nomination and Remuneration Committee (NRC) had approved a structured framework for performance evaluation of the Board, its Committees, the Chairman and individual Directors, in line with the Act, SEBI (LODR) Regulations and SEBI Guidance Note on Board Evaluation and the provisions of SS- 1, as amended from time to time.

Evaluation Process

Structured questionnaire forms, incorporating the criteria approved by the NRC, were circulated to all Directors to gather their independent feedback on the performance of the Board as a whole, its Committees, and individual Directors, including the Chairman.

A separate meeting of the Independent Directors was convened without the attendance of the Non- Independent Directors and members of the Management, in accordance with Schedule IV of the Act (Code for Independent Directors) and Regulation 25(3) of the SEBI LODR Regulations. At this meeting, the Independent Directors reviewed and evaluated the performance of the Non- Independent Directors, the Board as a whole, and the Chairman of the Company, taking into account the views of the Executive and Non- Executive Directors.

The NRC, at its meeting held on August 10, 2026, reviewed the evaluation feedback received and discussed areas for improvement to further strengthen the governance framework of the Company. The NRC noted that the overall performance of all Directors of the Company was highly satisfactory.

The evaluation outcomes and the areas for improvement identified through this exercise are being implemented to further strengthen the corporate governance framework of the Company.

16. AUDITORS AND AUDITORS REPORT

Statutory Auditor:

At the 32nd Annual General Meeting (AGM) of the Company held on September 20, 2023, shareholders approved the appointment of M/S Kholsa & Co., Chartered Accountants (FRN 0002005C), as Statutory Auditor for a period of 5 years. M/S B.Kholsa & Co., Chartered Accountants (Firm Registration No. 0002005C), Jaipur, have, vide their letter dated November 13, 2025, tendered their resignation from the office of the Statutory Auditor of the Company and Global Surfaces Inc., its material subsidiary. The Audit Committee and the Board have also recorded that there are no concerns raised by the resigning auditor with respect to the management of the Company and that there are no material reasons for their resignation other than those expressly mentioned in their letter.

The Board of Directors on the recommendation of the audit Committee considered and approved the appointment of M/S Ummed Jain & Co., Chartered Accountants (FRN: 119250W), as Statutory Auditors of the Company with effect from December 08, 2025, to fill the casual vacancy in the office of Statutory Auditor. The said appointment was approved by the Shareholders vide a resolution passed through Postal Ballot on January 8, 2026. M/S. Ummed Jain & Co., will hold the office till the conclusion of 35th Annual General Meeting to be held during the year 2026.

The Board of Directors at its meeting held on August 10, 2026 on recommendation of Audit Committee has recommended the appointment of M/S Ummed Jain & Co., Chartered Accountants (FRN: 119250W), as Statutory Auditors of the Company from conclusion of 35th AGM until the conclusion of 40th AGM to be held in the year 2031. The said appointment is subject to the approval of the shareholders at the ensuing Annual General Meeting of the Company. The above proposal and related information forms part of the Notice of the AGM and is placed for your approval.

The Statutory Audit report on the Standalone and Consolidated financial statements for the financial year 2025- 26, forms part of this Annual Report, does not contain any qualification, reservation, adverse remark, or disclaimer.

Secretariat Auditor:

In accordance with the provisions of section 204 of the Act read with the rules thereunder and Regulation 24A of the SEBI (LODR) Regulation, M/S. Pinchua & Co., Company Secretaries (FRN: P2016RJ051800), was appointed as the Secretariat Auditor of the Company for a period of five (5) consecutive financial years as their first term, commencing from the financial year 2025- 26 to 2030- 31. Their report in Form MR- 3, included as Annexure III to this Report, does not contain any reservation, qualification, adverse remark, or disclaimer.

Annual Secretariat Compliance Report

A Secretariat Compliance Report, pursuant to regulation 24A of the SEBI (LODR) Regulations, for the financial year 2025- 26 on compliance of all applicable SEBI Regulations and circulars/ guidelines issued thereunder, as issued by M/S. Pinchua & Co., Company Secretaries (FRN: P2016RJ051800) as submitted to the Stock Exchanges has been placed on the website of the Company.

Internal Auditor

The Board at its meeting held on May 28, 2025 reappointed M/S. N L A & Associates, Chartered Accountants (FRN: 023199C) as Internal Auditors of the Company for conducting internal audit for the financial year 2025- 26.

Cost Accounts and Cost Audit

The maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section 148(1) of the Act are not applicable to the business activities of the Company.

Reporting of fraud by auditors

During the financial year under review, no instances of fraud have been reported by the statutory auditors or secretarial auditors to the Audit Committee or to the Board pursuant to section 143(12) of the Act, the details of which should form part of this report.

17. MEETINGS OF BOARD

During the year, 8 (Eight) Board Meetings were convened and held, the details of which are given in the Corporate Governance Report forming part of this Annual Report. The intervening gap between two consecutive meetings did not exceed the period of 120 days prescribed under the Act.

18. BOARDS COMMITTEES

The Board of Directors of the Company has constituted the following Committees:

Audit Committee Corporate Social Responsibility Committee Nomination and Remuneration Committee Stakeholders Relationship Committee

Details regarding the composition, charters, meetings held during the year, and attendance are provided in the Report on Corporate Governance, which forms part of this Annual Report. Further there was no such instance of non- acceptance of any recommendations of any committee by the Board, during the year under review.

19. PREVENTION OF INSIDER TRADING

In compliance with the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 and subsequent amendments, the Board has established a Code of Conduct to regulate, monitor, and report trading by designated Persons and other connected persons. Additionally, a Code of Practices and Procedures for fair disclosure of Unpublished Price Sensitive Information (UPSI) is in place. The same can be accessed on the Companys website at https://globalsurfaces.com/corporate- governance The trading window remains closed during result declarations and material event occurrences as per the code insert here.

20. VIGIL MECHANISM/WHISTLE BLOWER POLICY

The Company has implemented a Whistle Blower Policy to address genuine concerns about unethical behaviour, actual or suspected fraud, mismanagement, and violations of the Companys Code of Conduct. This policy provides a

systematic mechanism for reporting concerns and includes safeguards against victimization. The policy is available on the Companys website at https://globalsurfaces.com/corporate- governance

During the financial year 2025- 26, the mechanism functioned effectively, and no whistleblower complaints were reported.

21.CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Companys CSR Policy, adopted pursuant to Section 135 of the Companies Act, 2013, is guided by the philosophy of creating a more inclusive and sustainable society. The Policy encompasses CSR activities across thematic areas specified in Schedule VII of the Act, including healthcare and preventive health care, education and livelihood enhancement, gender equality and women empowerment, environmental sustainability and animal welfare, protection of national heritage, art and culture, and disaster management, among others. CSR activities are implemented either directly by the Company or through eligible implementing agencies, with preference given to local areas and areas around the Companys operational locations. The CSR Committee formulates an annual action plan, monitors implementation of CSR projects, and reports to the Board periodically. Any surplus arising out of CSR activities does not form part of the business profits of the Company, and any unspent CSR amount is dealt with in accordance with the provisions of Section 135 of the Act. The CSR Policy is available on the Companys website at https://globalsurfaces.com/corporate- governance.

During the financial year 2025- 26, the Company contributed 53.20 Lacs towards CSR activities, which was in excess of its CSR obligation of 42.47 Lacs for the financial year 2025- 26, resulting in an excess spend of 10.73 Lacs available for set- off in succeeding financial years. The Annual Report on CSR activities, as mandated under Section 134(3) and Section 135(2) of the Act read with the Companies (Corporate Social Responsibility Policy) Rules, 2014, is annexed as Annexure IV to this Report.

22.RISK MANAGEMENT POLICY

The Company has developed and implemented a Risk Management Policy to identify and manage business risks effectively. This framework promotes transparency, minimizes adverse impacts on business objectives, and enhances the Companys competitive advantage. The

Risk Management Policy, encompassing risk assessment and management across the enterprise, is available on the Companys website at https://globalsurfaces . com/corporate- governance. Detailed information respective mitigation is defined by the Company and their management framework, is comprehensively discussed in the Management Discussion and Analysis Report, forming part of this Annual Report.

23.DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013 AND MATERNITY BENEFIT PROVISIONS UNDER THE CODE ON SOCIAL SECURITY, 2020

The Company is committed to providing a workplace that is free from discrimination, harassment and victimisation, regardless of gender, race, creed, religion, place of origin, or sexual orientation of any person employed or engaged with the Company. The Company has instituted a robust policy and framework to prevent sexual harassment in the workplace. The policy ensures compliance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, and includes the formation of an Internal Complaints Committee (IC). The policy is applicable to all employees including the Companys contractual workforce. The IC has been duly constituted to consider and redress complaints of sexual harassment at the workplace in accordance with the provisions of the said Act. A statement of the following particulars in accordance with Section 134(3) of the Companies Act, 2013 read with the applicable rules is provided below:

Number of complaints of sexual harassment received during the year	Nil
Number of complaints disposed off during the year	NA
Number of cases pending for more than ninety days	Nil

Maternity Benefit

The Company has duly complied with the applicable provisions relating to maternity benefits as prescribed under Chapter VI of the Code on Social Security, 2020 (which came into force with effect from November 21, 2025, superseding the Maternity Benefit Act, 1961), read with the Social Security (Central) Rules, 2026. The Company provides maternity benefits to eligible women employees in accordance with the said Code and the rules framed thereunder, and no non- compliance has been observed or reported in this regard during the financial year under review.

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24.ANNUAL RETURN

As per section 92(3) read with section 134(3) of the Act, the Annual Return as of March 31, 2026, is available on the Companys website at https://globalsurfaces.com/corporate- governance

25.DEPOSITS

During the year under review, your Company has not accepted any deposits falling within the ambit of Section 73 of the Act and the Companies (Acceptance of Deposits) Rules, 2014. The Company has not accepted any deposits in the earlier years and as such question of unpaid or unclaimed deposit and defaults in repayment does not arise.

26.INTERNAL FINANCIAL CONTROLS

Your Company has implemented a robust system of internal financial controls designed to ensure effective management of operations, safeguarding of assets, optimal resource utilization, reliability of financial reporting, and compliance with regulations. The internal control systems are periodically reviewed to align with the Companys growing operational complexity. Based on the assessment and reviews conducted, including those by Internal, Statutory, and Secretarial Auditors, the Board of the opinion that the internal financial controls were adequate and effective during the financial year 2025- 26. The Statutory Auditor provided an unmodified report on the Internal Financial Controls with reference to financial statements for the financial year 2025- 26.

27.COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating effectively.

28.CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO

Details on Conservation of Energy, Technology Absorption, Foreign Exchange Earnings, and Outgo as per section 134 of the Act, are provided in Annexure V to this report.

29.NOMINATION AND REMUNERATION POLICY

In accordance with the Act, and the SEBI (LODR) Regulations, the Company has formulated a Nomination and Remuneration Policy. This policy provides guidelines to the Nomination and Remuneration Committee on the

Appointment, Removal, and Remuneration of Directors, Key Managerial Personnel, and Senior Management. It establishes criteria for determining qualifications, competencies, positive attributes, independence of directors, and the remuneration for Directors, Key Managerial Personnel, Senior Management, and other Employees. The policy also outlines the process for evaluating the performance of the Board, its committees, and individual directors. The Nomination and Remuneration Policy can be accessed on the Companys website at https://globalsurfaces.com/corporate- governance

30.PARTICULARS OF EMPLOYEES

The ratio of remuneration of each director to the median of employees remuneration as per Section 197(12) of the Act, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is disclosed in Annexure VI.

In accordance with the provisions of Section 197(12) of the Act and Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the names and other particulars of employees are available with the Company. Considering the first proviso to Section 136(1) of the Act, the Annual Report, excluding the said information, is being sent to the shareholders of the Company and others entitled thereto. The information is available for inspection at the registered office of the Company during working hours up to the date of the ensuing AGM. Any shareholder interested in obtaining such information may write to the Company Secretary in this regard.

31.MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report, integral to this Annual Report, is annexed with the Boards Report.

32.CORPORATE GOVERNANCE

The Company has adhered to the corporate governance requirements mandated by the SEBI (LODR) Regulations. The corporate governance report, along with a certificate from a M/s. Pinchaa & Co., Company Secretaries confirming compliance with conditions stipulated under Regulation 34(3) read with Part E of Schedule V of the SEBI (LODR) Regulations, is included in the Boards Report.

33.LISTING OF SHARES

Your Companys shares are listed on BSE Limited and National Stock Exchange of India Ltd, and the listing fees for the year have been duly paid. The Companys shares are not suspended for trading on Stock Exchange(s).

34. OTHER STATUTORY DISCLOSURES Your directors confirm that during the year under review, there were no transactions, events, or occurrences related to the following items that require disclosure or reporting: Issue of equity shares with differential rights as to dividend, voting, or otherwise. Issue of shares (including sweat equity shares) to employees of the Company under any scheme. Buy- back of shares under Section 67(3) of the Act. Settlements with banks or financial institutions. Details of revision of financial statements or the Report. Failure to implement any corporate action. Amounts received from Directors or relatives of Directors. Details of applications made or any proceedings pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) and their status. Details of differences between the valuation done at the time of One Time Settlement and the valuation done while taking loans from banks or financial institutions, along with the reasons thereof.

35. DIRECTORS RESPONSIBILITY STATEMENT

As required by section 134(3)(c) of the Act, your Directors state and confirm:

a. that in the preparation of the annual accounts, the applicable accounting standards have been followed and there are no material departures; b. that they have selected such accounting policies and applied them consistently and made judgment and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at March 31, 2026, and of the profit of the Company for the year ended on that date; c. that they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. d. that they have prepared the annual accounts on a going concern basis;

e. that they have laid down proper internal financial controls and such internal financial controls are adequate and operating effectively; and

f. that they have devised proper systems to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively.

36. MATERIAL CHANGES & COMMITMENTS

In accordance with Section 134(3)(l) of the Act, there have been no material changes or commitments affecting the financial position of the Company between the end of the financial year and the date of this report.

37. MATERIAL ORDERS

Pursuant to Rule 8(5)(vii) of the Companies (Accounts) Rules, 2014, there were no significant or material orders passed by regulators, courts, or tribunals that would impact the Companys going concern status or its operations in the future.

38. CREDIT RATING

Acute Ratings & Research Limited, a SEBI- registered Credit Rating Agency, vide its press release dated June 6, 2025, reaffirmed the short- term debt rating of ACUTE A2 and the long- term debt rating of ACUTE BBB+ on the bank facilities of the Company aggregating 143.10 Crore.

39. CERTIFICATION AND AWARDS

The Company has been awarded multiple prestigious certifications, underscoring our commitment to quality, sustainability, and safety in our operations. These certifications not only reflect our adherence to international standards but also reinforce our reputation as a trusted name in the industry. The details of our key certifications are as follows:

ISO 9001:2015 - Quality Management System

This certification confirms our compliance with ISO 9001:2015 standards for quality management, covering the processing, manufacturing, and export of natural stones, granite, marble, sandstones, and engineered quartz. It ensures our products consistently meet customer and regulatory requirements, demonstrating our commitment to continuous improvement and operational excellence.

ISO 14001:2015 - Environmental Management System

Awarded for our environmental management practices, the ISO 14001:2015 certification underscores our dedication to reducing environmental impact. It applies to our

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manufacturing and export operations, ensuring sustainable practices and resource efficiency.

ISO 45001:2018 - Occupational Health and Safety Management System

Our ISO 45001:2018 certification reflects our commitment to maintaining a safe and healthy workplace. It validates our efforts in managing and improving occupational health and safety, reducing workplace risks, and enhancing employee well- being.

GREENGUARD Certification

This certification verifies that our products meet stringent chemical emissions standards, contributing to healthier indoor environments. It is particularly significant for products used in construction, supporting indoor air quality.

Kosher Certification

The Kosher certification indicates that our products meet the dietary requirements of Jewish law, expanding our market reach to customers seeking Kosher- compliant products.

CE Marking

The CE marking on our products indicates conformity with health, safety, and environmental protection standards for products sold within the European Economic Area (EEA). It assures that our products meet European regulations,

enabling confident marketability across Europe.

These certifications are a testament to our dedication to excellence and our commitment to delivering high- quality, safe, and sustainable products globally. We will continue to uphold these standards and pursue further improvements in our processes and products.

40. ACKNOWLEDGEMENT

The Board extends its heartfelt appreciation to all employees for their unwavering dedication and hard work. Their commitment has been pivotal in delivering exceptional value to our customers and stakeholders, driving our growth and success in a competitive market environment. We also express our sincere gratitude to our suppliers, customers, and business associates for their ongoing collaboration and trust. Their partnership is instrumental in achieving our strategic objectives and sustaining our operational excellence.

We gratefully acknowledge the invaluable guidance and support from our Statutory and Secretarial Auditors, whose expertise and diligence ensure our adherence to the highest standards of governance and accountability.

Lastly, we extend our thanks to our investors, clients, banks, government agencies, regulatory authorities, and stock exchanges for their continued confidence and support in our journey towards sustainable growth and shareholder value creation.

For and on behalf of the Board of Directors Global Surfaces Limited

Mayank Shah Chairman and Managing Director DIN:01850199