Please find attached herewith Financial Results for quarter ended September 2022
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd submitted its Q2 FY23 (ended September 30, 2022) unaudited results with a limited review report from auditor P.D. Agrawal & Co. The company reported NIL income from operations across all periods, with total expenses of Rs. 0.49 lakh resulting in a net loss of Rs. 0.49 lakh for the quarter. The balance sheet paints a deeply stressed picture — total assets are just Rs. 6.17 lakhs against current liabilities of Rs. 201.62 lakhs, and shareholders' funds are negative at Rs. -195.45 lakhs (reserves and surplus at -Rs. 656.77 lakhs). Cash balance is negligible at Rs. 0.41 lakh. The auditor drew attention to the Ind AS transition and noted that comparative figures were not reviewed. Previous period figures were restated under Ind AS.
This is a near-defunct micro-cap shell — no revenue, negative net worth, and liabilities nearly 33 times total assets. Shareholders face very high risk; the stock is essentially speculative with no operating business backing the valuation. Avoid basing any investment view on this name without further due diligence on revival plans.