Please find attached herewith Annual Report for the Financial Year 2023-24.
Awaiting price reaction for this filing.
Garlon Polyfab Industries has submitted its Annual Report for the financial year ended March 31, 2024. The company has had no business activity for several years, with sales and other income both reported as Nil. Total expenses stood at Rs. 4.40 lakh, leading to a net loss of Rs. 4.40 lakh (compared to a loss of Rs. 2.54 lakh in the previous year). Earnings per share came in at negative Rs. 0.10. No dividend has been recommended. The company noted the unfortunate demise of Whole-Time Director Mr. Vivek Garg on April 8, 2024, and is seeking strategic investors to revive operations. Statutory auditor M/s P.D. Agrawal & Co. is being replaced by M/s D.C. Shukla & Co. from the upcoming AGM.
This is a routine annual filing for a non-operational company with no revenue and rising losses. Shareholders should note the company is essentially dormant, continues to bleed cash, and is dependent on finding strategic investors to restart any business activity. Stock price implications are likely limited as there is no active business.