Global Surfaces climbs as UAE facility stands to benefit from new U.S. tariffs

Global Surfaces rose 4.6% to Rs 117 after the company announced that its UAE-based manufacturing facility is expected to benefit from recently revised U.S. tariffs on engineered quartz imports from several Asian countries.

Global Surfaces, a leading manufacturer of engineered quartz surfaces, operates its UAE plant through its wholly owned subsidiary, Global Surfaces FZE. The company stated that it is the only Indian manufacturer in the sector with a production base in the UAE, offering strategic advantages in terms of cost and proximity to key markets.

The U.S. has imposed significantly higher tariffs on imports from countries including Vietnam, China, Malaysia, and Thailand, thereby increasing their landed cost in the American market. In contrast, UAE-origin goods face a lower tariff of 10%, giving Global Surfaces a pricing advantage in the U.S.

The company believes the development enhances its competitiveness and positions it to gain market share in the U.S., as rival manufacturers are expected to face margin pressures. The UAE facility, according to the company, also serves as a strategic hub for markets in the MENA region, Europe, and the U.S., integrating patented technology and sustainability into its operations.

Mayank Shah, chairman and managing director of Global Surfaces commented: "As the only manufacturer of engineered quartz in the UAE, we are uniquely positioned to take advantage of the newly imposed tariffs by the USA. Our UAE facility, combined with our Indian operations, provides us with a flexible and cost-optimized supply chain, enabling us to deliver premium products at highly competitive prices. We are excited about the future growth opportunities that this shift in the global trade landscape presents to our company and are geared up to take full advantage of the same."

Global Surfaces specializes in the production and distribution of high-quality engineered surfaces. Its manufacturing units are located at Jaipur, Rajasthan and UAE. The company exports granite, marble and engineered quartz slabs to USA, Canada, UK, UAE, etc.

On a consolidated basis, Global Surfaces reported net loss of Rs 10.40 crore in Q3 December 2024 as against net profit of Rs 3.28 crore in Q3 December 2023. Net sales rose 14.95% year-on-year to Rs 46.06 crore in Q3 December 2024.

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