Garlon Polyfab Q4 FY22 Loss Narrows; Reserves Deeply Negative

Garlon Polyfab posted a Q4 FY22 net loss of Rs 1.05 lacs and FY22 loss of Rs 2.21 lacs, narrower than Rs 3.79 lacs loss in FY21. Revenue was negligible at Rs 0.09 lacs for the quarter. Reserves are deeply negative at Rs 655.89 lacs, with shareholder funds at negative Rs 194.57 lacs. Current liabilities of Rs 200.63 lacs far exceed total assets of Rs 6.06 lacs, raising serious going concern worries. Auditor gave an unmodified opinion.