Please find attached herewith financial results for quarter ended June 2018
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported its Q1 FY19 results (quarter ended June 30, 2018). The company had essentially no revenue from operations across all periods, with only nominal other income. Total expenses for the quarter stood at Rs. 3,827, down from Rs. 31,964 in the same quarter last year and Rs. 111,664 in the previous quarter (Q4 FY18). The company posted a net loss of Rs. 3,827 for the quarter, narrower than the Rs. 31,964 loss a year ago but still negative. Paid-up equity capital remains Rs. 46.13 lakh with basic EPS of negative Rs. 0.04. The statutory auditor (P.D. Agrawal & Co.) issued an unqualified limited review report, noting only that Ind AS was adopted from April 1, 2017 and comparative figures were management-furnished without auditor review. The company has restated prior period figures under Ind AS.
The company remains operationally inactive and is reporting recurring losses, though the scale is small relative to its equity base. Shareholders should note the absence of meaningful revenue and continued loss-making status, which raises concerns about the company's business viability despite the clean auditor review.