Please find attached herewith financial results for quarter ended Sept 2019
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported very weak unaudited results for Q2 FY20 (quarter ended Sept 2019). Total operating income was about Rs 13.1 lakh for the quarter and Rs 13.05 lakh for the half year. The company posted a net loss of Rs 10.33 lakh for Q2 and Rs 13.84 lakh for the half year, widening from a Rs 6.37 lakh loss in the same quarter last year. Full-year FY19 also showed a loss of Rs 12.34 lakh. The balance sheet is severely stressed: reserves and surplus are negative at Rs 6.48 crore, making total shareholder funds negative at Rs 1.87 crore. Total assets are a meagre Rs 6.44 lakh, while short-term borrowings stand at Rs 1.89 crore, and the cash balance is actually negative at Rs 0.69 lakh. The statutory auditor (P.D. Agrawal & Co.) issued an unqualified limited review report with no qualifications or emphasis of matter.
This is a deeply negative filing for shareholders. The company is loss-making, has eroded its entire net worth (negative shareholder funds), carries borrowings far exceeding its total assets, and has a negative cash balance — all classic going-concern red flags. The stock is likely to face continued selling pressure and may attract delisting scrutiny given the persistent losses and depleted shareholder value.