Please find attached herewith quarterly financial results for the quarter ending 31st December 2019
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported zero revenue from operations for Q3 FY20 and the nine months ended December 2019, continuing a trend of no operating income across recent periods. The company posted a small net loss of ₹0.19 lakh in Q3 FY20 versus a marginal profit of ₹4.70 lakh in Q3 FY19. The nine-month loss narrowed significantly to ₹1.54 lakh compared to ₹11.11 lakh in the same period last year. Total expenses for the nine months were just ₹1.54 lakh, indicating the company is largely dormant with minimal activity. The auditor's limited review (by P.D. Agrawal & Co.) highlighted that the company adopted Ind AS from April 1, 2017, and that comparative figures were furnished by management and not independently reviewed.
With zero revenue from operations for multiple periods, the company appears to be non-operational, raising serious concerns about its business viability. Shareholders should view this as a significant red flag — the company is essentially a shell with negligible activity, which could weigh on investor confidence and the stock price.