Please find attached herewith financial results for quarter ended March 2020
Awaiting price reaction for this filing.
Garlon Polyfab Industries submitted its audited financial results for Q4 FY2020 (quarter ended March 31, 2020) to BSE on June 29, 2020. The balance sheet reveals a deeply negative shareholders' fund of ₹(188.49) lacs against share capital of ₹461.32 lacs, with accumulated losses of ₹(649.81) lacs. Total assets are extremely thin at just ₹6.42 lacs, while short-term borrowings stand at ₹189.08 lacs and trade payables at ₹4.81 lacs, meaning liabilities far exceed the asset base. The statutory auditor issued an unqualified (clean) opinion, but the filing also includes an Ind-AS reconciliation statement and notes that prior period figures have been regrouped/reclassified. The P&L reflects negligible operating activity, consistent with the company's distressed financial position.
This is a deeply concerning filing for shareholders — the company has a negative net worth, accumulated losses far exceeding its share capital, and borrowings over 29 times its total assets, raising serious going-concern doubts. The stock is likely to face heightened regulatory/delisting scrutiny and remains a high-risk, thinly-traded micro-cap.