Please find attached herewith Financial Results for quarter ended Dec 2022
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd reported unaudited financial results for Q3 FY23 (quarter ended December 2022) along with a Limited Review Report from auditor P.D. Agarwal & Co. The company reported virtually zero revenue from operations across all periods, with only marginal other income. Total expenses for the quarter stood at Rs 0.69 lakh, resulting in a net loss of Rs 0.89 lakh for Q3 FY23, compared to a loss of Rs 0.35 lakh in Q3 FY22. For the nine months ended December 2022, the loss widened to Rs 1.57 lakh versus Rs 1.23 lakh in the prior-year period. The full-year FY22 (audited) loss was Rs 3.79 lakh. The auditor gave an unqualified review report, drawing attention only to standard Ind AS transition and comparative figure matters.
The company appears largely dormant with negligible revenue and consistent losses that are widening compared to the previous year — a red flag for shareholders. The near-zero top line raises serious questions about ongoing business viability, though no formal going-concern flag has been raised by the auditor yet.