Please find attached herewith Financial Results for quarter ending 30th September 2024
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd reported a net loss of Rs. 0.51 lakh for Q2 FY25 (quarter ended September 2024), slightly narrower than the Rs. 0.62 lakh loss in the same quarter last year. For the half year ended September 2024, the loss widened to Rs. 1.45 lakh versus Rs. 1.13 lakh in H1 FY24. The company's balance sheet remains extremely weak — total assets are just Rs. 6.22 lakh while reserves and surplus are deeply negative at Rs. (663.95) lakh, leaving shareholders' funds at Rs. (202.63) lakh, i.e. negative net worth. Short-term borrowings of Rs. 197.50 lakh dwarf the negligible asset base, indicating the company is essentially a non-operating shell. The statutory auditor (D.C. Shukla & Co.) issued an unmodified limited review report with emphasis on Ind AS adoption and unreviewed comparative figures.
The stock is unattractive for retail investors — the company has no meaningful revenue, persistent losses, negative net worth, and borrowings far exceeding assets, signalling a near-dormant entity with severe balance sheet stress.