Please find attached herewith financial results for quarter ended March 2021
Awaiting price reaction for this filing.
Garlon Polyfab Industries has submitted its audited financial results for Q4 FY21 and full year ended March 31, 2021. The company has a very small asset base of just Rs. 6.15 lakhs against a share capital of Rs. 461.32 lakhs. Reserves and surplus are deeply negative at Rs. -653.60 lakhs, meaning accumulated losses have completely wiped out shareholders' equity, leaving the book value of shareholders' funds at Rs. -192.28 lakhs. Short-term borrowings of Rs. 191.76 lakhs are sitting on top of negative net worth. EPS for the year ended March 2021 was a marginal Rs. 0.0013, while the comparable prior year period showed a loss per share of Rs. -0.0048. The auditor's report is largely clean, but the financials themselves raise serious concerns about the company's solvency.
This is a deeply distressed micro-cap. With negative net worth and accumulated losses several times the share capital, the stock is effectively trading on hope rather than balance sheet strength. Shareholders face serious risk of further value erosion; existing investors should treat this as a high-risk situation and watch for any signs of fund-raising or restructuring announcements.