Q4 FY19 results: net loss of Rs 1.94 lakh; negative equity deepens

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Garlon Polyfab posted a net loss of Rs 1.94 lakh for Q4 and FY19, with nil income from operations. Reserves and surplus stood at a deeply negative Rs 647.40 lakh, leaving shareholders equity at minus Rs 186.08 lakh. Short term borrowings were Rs 188.05 lakh against total assets of Rs 6.50 lakh. Statutory auditor P.D. Agrawal and Co. gave an unmodified opinion.

Likely market impact

Company appears financially distressed with negative equity and reserves. Loss-making operations and deeply negative net worth raise solvency concerns.