Please find attached herewith quarterly financial results for quarter ending 30th September 2017
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd filed its unaudited quarterly results for Q2 FY18 (quarter ended Sept 30, 2017) under SEBI LODR Regulation 33. The company reported a net loss of approximately Rs. 42.16 lakhs for the half-year ended September 2017, a sharp increase from a loss of Rs. 2.11 lakhs in the corresponding prior-year period. The standalone balance sheet reveals severely negative shareholder funds of about Rs. 1.69 crore, with accumulated losses in reserves and surplus of Rs. 6.31 crore against share capital of Rs. 4.61 crore. Exceptional items were reported during the period. The limited review was conducted by P.D. Agarwal & Co., Chartered Accountants, with no qualifications raised, though the auditor drew attention to the Ind AS transition and unreviewed comparative figures.
The steep rise in losses and deeply negative shareholder equity signal serious financial distress, which is negative for shareholders and may weigh on the stock. Investors should closely monitor whether the company can stem losses and restore positive net worth.