Please find attached herewith Financial Results for quarter ending 30th June 2018
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd submitted its unaudited financial results for Q1 FY19 (quarter ended 30 June 2018). The company reported negligible revenue from operations and total expenses of just Rs. 3,827 (mostly other expenses), resulting in a net loss of Rs. 3,827 for the quarter. This compares with a loss of Rs. 31,964 in Q1 FY18 and a full-year FY18 loss of Rs. 1,79,856. Basic EPS stood at negative Rs. 0.04 against a paid-up equity share capital of Rs. 46.13 lakh (face value Rs. 10). The statutory auditor P.D. Agarwal & Co issued a clean limited review report with an emphasis of matter regarding the company's adoption of Ind AS from FY18 with transition date of 1 April 2017, and noted that comparative figures were furnished by management without auditor review.
Consistent quarterly losses and near-zero revenue suggest the company has minimal or dormant business operations, which is a concern for shareholders as EPS remains negative. However, given the very small absolute loss figures, the immediate impact on stock price is likely limited.