Please find attached herewith Financial Results for quarter ending 31st March 2017
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported deeply negative results for FY17. The company posted a net loss of ₹42.16 lakh for the full year ended March 2017, compared to a loss of ₹6.09 lakh in FY16 — a roughly seven-fold deterioration. For Q4 FY17 alone, the net loss was ₹38.99 lakh, inflated by a large exceptional item of ₹34.52 lakh. Income from operations appears to have collapsed to near zero in the quarter, with only a small 'Other Income' of ₹3.41 lakh visible. The balance sheet is severely stressed: reserves and surplus stand at a negative ₹6.30 crore, wiping out the entire share capital of ₹4.61 crore, while short-term borrowings of ₹1.72 crore remain outstanding.
This is a deeply negative filing for shareholders — the company's accumulated losses now exceed its share capital, raising serious solvency and going-concern questions. The stock is likely to face heavy selling pressure, and investors should treat this as a high-risk situation given the vanishing revenue base and mounting losses.