Please find attached herewith Financial Results for quarter ending 30.06.2022
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd reported negligible income from operations for Q1 FY23, with total expenses of Rs. 0.39 lakh against virtually no revenue, resulting in a net loss of Rs. 0.39 lakh. The company posted a net loss of Rs. 1.05 lakh in the corresponding quarter of the previous year (Q1 FY22) and a full-year loss of Rs. 2.28 lakh for FY22. The quarterly loss narrowed compared to the year-ago period, but the company continues to be loss-making with virtually no operating activity. Paid-up equity share capital stands at Rs. 461.32 lakh, while basic and diluted EPS are reported as (0.00). The results were reviewed by the statutory auditors as per SEBI LODR Regulation 33.
The company remains in a loss-making position with minimal to no operational revenue, which is a concern for shareholders. The slight reduction in quarterly loss offers little comfort given the near-zero top line, and there is no clear visibility on a business turnaround from this filing.