Please find attached herewith Financial Results for the quarter ending 30th September 2022
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Garlon Polyfab Industries Ltd reported no revenue from operations for Q2 FY23 (ended September 2022), continuing its non-operational status. The company posted a net loss of Rs 0.49 lakh for the quarter, slightly wider than the Rs 0.48 lakh loss in the same quarter last year. For H1 FY23, the net loss stood at Rs 0.88 lakh versus Rs 0.85 lakh a year ago. The balance sheet shows severely negative shareholder funds of Rs -195.45 lakhs (reserves and surplus of Rs -656.77 lakhs against share capital of Rs 461.32 lakhs), with total assets of just Rs 6.17 lakhs. Short-term borrowings stood at Rs 192.96 lakhs. The auditor (P.D. Agrawal & Co.) issued an unmodified limited review report.
The company appears to be effectively non-operational with zero revenue, persistent losses, and deeply negative net worth — raising serious going-concern concerns. Shareholders face a company that is technically insolvent on a book-value basis with no visible business activity to drive a turnaround.