Please find attached herewith financial results for quarter ended Sept 2017
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported a loss of approximately ₹26,964 for Q2 FY18 (quarter ended Sept 30, 2017), widening from a loss of ₹31,964 in the previous quarter (Q1 FY18). For the half-year ended Sept 2017, the loss stood at around ₹1.06 lakh. Revenue from operations appears negligible — the only income reported is ₹5,000 shown as 'other income', suggesting the company has practically no operating business activity. The balance sheet reveals severely eroded shareholder equity: reserves and surplus are deeply negative at around ₹-63.06 crore, leaving total shareholders' funds (net worth) at approximately ₹-16.93 crore. Total assets have shrunk to just ₹7.72 lakh from ₹57.48 lakh a year earlier. The results have been transitioned to the new Ind AS accounting framework, and the auditor flagged this transition and the unreviewed comparative figures as matters of emphasis.
This is a deeply negative filing for shareholders — the company has a negative net worth, no meaningful operating revenue, and continuous losses, raising serious going-concern and solvency concerns. The stock is likely to remain under pressure and could face regulatory scrutiny or delisting risk given the eroded shareholder base.