Please find attached herewith financial results for quarter ended Sept 2021
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd submitted its unaudited financial results for Q2 FY22 (quarter ended September 2021) along with a Limited Review Report from its statutory auditor. The company's revenue from operations appears negligible (near zero), while total expenses for the quarter stood at Rs 0.85 lakh, leading to a net loss of Rs 0.48 lakh for Q2 and Rs 0.85 lakh for the half-year. The balance sheet shows deeply negative reserves of Rs (654.45) lakh, resulting in negative shareholders' funds of Rs (193.13) lakh against total assets of just Rs 6.13 lakh. The company's paid-up equity capital is Rs 461.32 lakh. The auditor's review is clean but notes that comparative figures were not independently reviewed. The results have been restated under Ind AS standards, transitioning from the earlier Indian GAAP framework.
This filing reveals a financially distressed micro-cap company with negative net worth, persistent losses, and minimal operating activity — raising serious going concern questions for shareholders. The stock remains a high-risk investment with no visible revenue generation.