Please find attached herewith quarterly financial results for quarter ending 31st March 2023
Awaiting price reaction for this filing.
Garlon Polyfab Industries reported zero revenue from operations across all four quarters and the full financial year ending March 2023. The company posted a net loss of ₹2.54 lakhs for FY23, slightly wider than the ₹2.28 lakh loss in FY22, with quarterly losses ranging from ₹0.69 lakhs to ₹1.05 lakhs. The balance sheet is severely stressed — shareholders' funds are deeply negative at -₹197.11 lakhs, with accumulated losses of -₹658.43 lakhs wiping out the entire share capital of ₹461.32 lakhs. Total assets stand at just ₹6.13 lakhs, while short-term borrowings are ₹193.36 lakhs, leaving the company with negligible cash of ₹0.37 lakhs. The statutory auditor (P.D. Agrawal & Co.) issued an unmodified (clean) opinion on the annual results and an unmodified review conclusion on the quarterly numbers, with no qualifications, adverse remarks, or going concern flag raised.
The company is essentially a non-operating, financially distressed entity with negative net worth, no business activity, and no revenue visibility. For shareholders, this signals a dormant shell with deeply eroded equity and high solvency risk, though filing compliance is being maintained.