Please find attached herewith quarterly financial results for quarter ending 30.09.2021
Awaiting price reaction for this filing.
Garlon Polyfab Industries filed its unaudited financial results with a limited review report for the quarter ended 30 September 2021, along with the half-year results. The company continues to report losses, with EPS effectively at zero across all reported periods. The balance sheet paints a worrying picture: shareholders' funds are deeply negative at ₹(193.13) lakhs, driven by accumulated reserves of ₹(654.45) lakhs. Total assets stand at just ₹6.13 lakhs against short-term borrowings of ₹192.16 lakhs, and cash balance is a mere ₹0.37 lakhs. The company has also transitioned its reporting from Indian GAAP to Ind AS, with reconciliation statements provided. Results were approved by the Board on 10 November 2021.
Significant red flags for shareholders: the company has negative net worth, is loss-making with negligible cash, and its borrowings dwarf its asset base — raising serious going concern doubts. Stock price sentiment is likely to remain weak unless a turnaround, capital infusion, or restructuring is announced.