Please find attached herewith financial results for quarter ended December 2017
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported a net loss of about ₹28,964 for Q3 FY18 (quarter ended December 2017), with negligible or zero income from operations during the quarter. The nine-month loss widened sharply to roughly ₹3.17 lakh, nearly double the prior-year nine-month loss of about ₹1.64 lakh. For the full financial year ended March 31, 2017, the company had posted a loss of approximately ₹42.16 lakh. This is the first set of results restated under the new Ind AS accounting framework, which the company adopted from April 1, 2017. The statutory auditor (P.D. Agrawal & Co.) issued an unqualified limited review report but drew specific attention to the Ind AS transition note and noted that prior comparative figures were management-furnished and not independently reviewed.
Continued losses with virtually no operating revenue point to serious business stress — shareholders should watch for any revival plan, fundraising, or operational restructuring. The Ind AS restatement and clean auditor report reduce technical risk, but the underlying business performance remains weak.