Please find attached herewith quarterly Financial Results for quarter ending 30th September 2019
Awaiting price reaction for this filing.
Garlon Polyfab Industries Ltd filed its unaudited Q2 FY2020 results (quarter ended 30 September 2019) along with a limited review report from P.D. Agarwal & Co. The company reported total operating income of about Rs. 1.31 crore but slipped into a net loss of roughly Rs. 3.71 lakh for the quarter, continuing the loss-making trend from prior periods. The balance sheet is severely stressed: reserves and surplus are negative at around Rs. 64.78 lakh versus share capital of Rs. 46.13 lakh, pushing shareholders' equity deep into the red at about Rs. 18.65 lakh. Short-term borrowings of Rs. 1.89 crore tower over total assets of just Rs. 6.44 lakh, and the cash balance is negative at around Rs. 68,755. The auditor issued an unmodified limited review but explicitly drew attention to Ind AS adoption and the fact that prior-period comparative figures were not independently reviewed.
This is a deeply concerning set of numbers — negative net worth, negative cash, and ongoing losses suggest serious solvency and going-concern issues that pose material risk to shareholders. The stock should be treated as high-risk until the company demonstrates a clear turnaround in profitability and balance-sheet strength.