Please find attached herewith Financial Results for quarter ended September 2018
Awaiting price reaction for this filing.
Garlon Polyfab Industries has submitted its unaudited results for Q2 FY19 (quarter ended September 30, 2018). The balance sheet shows total assets of about ₹6.92 lakh, down from ₹7.72 lakh a year earlier, while cash and bank balances have fallen to ₹1.17 lakh from ₹1.96 lakh. Shareholders' funds remain deeply negative at about -₹17.71 lakh (reserves & surplus are -₹63.84 lakh against share capital of ₹46.13 lakh), meaning accumulated losses far exceed capital. Short-term borrowings have risen to ₹1.83 crore from ₹1.73 crore. The company reported a loss for the quarter, with negative EPS. The auditor (P.D. Agarwal & Co.) issued an unqualified limited review report, only noting the transition to Ind AS accounting and that comparative figures were not independently reviewed.
The negative net worth, rising borrowings, declining cash and continued quarterly loss raise serious concerns about the company's financial health and long-term viability. Shareholders should view this small-cap stock as carrying elevated risk, as the business appears to be eroding equity rather than building it.