Please find attached herewith quarterly financial results for quarter ending 31st March 2022
Awaiting price reaction for this filing.
Garlon Polyfab Industries Limited, a small company based in Kanpur, reported audited financial results for Q4 FY22 and full year ended March 2022. Revenue from operations was negligible at just Rs 0.09 lacs, indicating the company is essentially non-operational. The company reported a net loss of Rs 1.05 lacs for Q4 FY22 and Rs 2.21 lacs for the full year FY22, slightly better than the Rs 2.28 lacs loss in FY21. The balance sheet is severely stressed with negative shareholders' funds of Rs -194.57 lacs (against share capital of Rs 461.32 lacs offset by negative reserves of Rs -655.89 lacs) and short-term borrowings of Rs 192.46 lacs. Total assets stand at only Rs 6.06 lacs. Previous period figures have been restated to comply with Ind AS accounting standards, with a reconciliation provided between earlier IGAAP and Ind AS reporting.
This is a micro-cap, virtually non-operational company with completely eroded net worth and persistent losses. Shareholders face very high risk — the negative equity position means any operational revival would likely require significant capital infusion or restructuring, posing dilution risk to existing holders.