Please find attached herewith Financial Results for quarter ended March 2018
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd, a small Kanpur-based company, filed its audited financial results for Q4 FY18 and full year ended March 31, 2018. The company reported a loss of about Rs. 1.12 lacs in Q4 FY18 and Rs. 1.98 lacs for the full year FY18, an improvement from the Rs. 42.16 lacs loss in FY17. Income from operations was minimal or near-zero across all periods, suggesting very limited business activity. The balance sheet shows a negative net worth of Rs. 17.05 lacs, as accumulated losses (negative reserves of Rs. 6.32 crores) have wiped out the entire share capital of Rs. 4.61 crores. Short-term borrowings of around Rs. 1.53 crores remain on the books against just Rs. 1.64 lacs in cash. The statutory auditors (P.D. Agrawal & Co.) issued an unmodified (clean) opinion on the results, and prior period figures have been restated under Ind AS.
Negative net worth and persistent losses are serious red flags for shareholders, raising concerns about the company's long-term viability despite the clean audit opinion and narrowing losses. Small-cap investors should exercise extreme caution — the stock is highly illiquid and the company appears to be in a near-dormant state.