Please find attached herewith Financial Results for quarter ended June 2021
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd submitted its Q1 FY22 (quarter ended June 30, 2021) unaudited financial results, approved by the Board on August 14, 2021. The figures as presented suggest the company posted a loss during the quarter, similar to the loss-making corresponding quarter of the previous year. Statutory auditor P.D. Agarwal & Co. issued a clean limited review report but explicitly drew attention to two matters: (a) the note about Ind AS adoption for the financial year commencing April 1, 2017, and (b) that comparative figures were not independently reviewed by them and were furnished by management. Results were prepared under Ind AS, and tax provisions will be made at year-end.
Persistent quarterly losses indicate ongoing operational weakness for shareholders, though the auditor's emphasis-of-matter points are standard disclosures rather than red flags. Investors should watch for any improvement in profitability in subsequent quarters.