Please find attached herewith Financial Results for quarter ended June 2023
Awaiting price reaction for this filing.
Garlon Polyfab Industries has submitted its Q1 FY24 (April–June 2023) unaudited results, approved by the Board on August 24, 2023. The company reported a net loss of Rs 0.53 lakh, wider than the Rs 0.39 lakh loss in the same quarter last year. Total expenses rose to Rs 0.95 lakh from Rs 0.39 lakh year-on-year, while income from operations appears negligible. Basic loss per share stands at Rs (0.01). Statutory auditor P.D. Agarwal & Co. issued a limited review report with an emphasis of matter, noting that the prior-year comparative figures were not independently reviewed and were furnished by management. The company shows minimal business activity and has been loss-making across all reported periods.
The company continues to post losses with virtually no revenue, suggesting near-dormant operations. The emphasis of matter on unreviewed comparatives is a minor governance flag, though the absolute financial figures are very small. Shareholders should note the lack of operating activity before relying on these numbers.