Garlon Polyfab Industries Limited submitted its audited standalone financial results for the quarter ended March 31, 2020, and the year ended March 31, 2020, to the BSE Limited compliance department.
The submission includes:
- Audited financial results
- Auditor's report
- Statement of assets and liabilities
Auditor's Opinion
The auditors, whose report is dated June 15, 2020, issued an unqualified opinion stating that:
- The financial results have been presented in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The results give a true and fair view of the financial information including other comprehensive income for the quarter ended March 31, 2020, and the year-to-date results for the period from April 1, 2019, to March 31, 2020
- The audit was conducted in accordance with auditing standards generally accepted in India
- The financial results were prepared based on interim financial statements following Accounting Standard 25 (Interim Financial Reporting) of Ind AS
Financial Position as of March 31, 2020 (Standalone)
Assets:
- Total Assets: ₹6.42 lakhs (Previous year: ₹6.50 lakhs)
- Non-Current Assets: ₹5.76 lakhs (unchanged from previous year)
- Long term loans and advances: ₹5.76 lakhs
- Current Assets: ₹0.66 lakhs (Previous year: ₹0.74 lakhs)
- Cash and Cash equivalents: ₹0.66 lakhs
Equity and Liabilities:
- Shareholders' Fund: Negative ₹188.49 lakhs (Previous year: Negative ₹186.08 lakhs)
- Share Capital: ₹461.32 lakhs (unchanged)
- Reserves and Surplus: Negative ₹649.81 lakhs (Previous year: Negative ₹647.40 lakhs)
- Current Liabilities: ₹194.91 lakhs (Previous year: ₹192.58 lakhs)
- Short term borrowings: ₹189.08 lakhs (Previous year: ₹188.05 lakhs)
- Trade payables: ₹4.81 lakhs (Previous year: ₹3.85 lakhs)
- Other short term provisions: ₹1.02 lakhs (Previous year: ₹0.68 lakhs)
Financial Performance
For the quarter ended March 31, 2020:
- Total Expenses: ₹0.88 lakhs
- Net Loss before tax: ₹(0.88) lakhs
- Tax Expense: Nil
- Net Loss for the quarter: ₹(0.88) lakhs
- Earnings Per Share (Basic and Diluted): Not quantifiable (negative)
For the year ended March 31, 2020:
- Total Expenses: ₹4.33 lakhs
- Profit before exceptional items and tax: ₹8.77 lakhs
- Exceptional Items: Not specified
- Net Profit before tax: ₹8.77 lakhs
- Tax Expense: Nil
- Net Profit for the year: ₹8.77 lakhs
- Earnings Per Share:
- Basic: ₹0.19
- Diluted: ₹0.19
Reconciliation note: The document contains a reconciliation table for Net Profit and Equity under Ind-AS compared to IGAAP, but all fields are blank indicating no adjustments were made.
Additional Information
- Paid-up equity share capital: ₹461.32 lakhs (Face value of ₹10 per share)
- The board of directors approved the results at their meeting held on June 15, 2020
- The approval timeline was extended by SEBI due to COVID-19 pandemic
- The results are prepared in compliance with Indian Accounting Standards (Ind-AS)
- Previous period results have been restated as per Ind-AS