Garlon Polyfab Q2 FY24 results show negative net worth

Garlon Polyfab reported unaudited Q2 FY24 results. Reserves stay deeply negative at minus 660.83 lakhs, leaving shareholders funds at minus 199.51 lakhs. Total assets stand at only 6.39 lakhs against short term borrowings of 195.61 lakhs. Auditor P D Agarwal flagged that prior period comparative figures were furnished by management and not independently reviewed.