Garlon Polyfab Industries Ltd. submitted its un-audited financial results with Limited Review Report as per Regulation 33(3)(a) of SEBI (Listing Obligations and Disclosure Requirement) for the quarter ended 30 June 2017.

Financial Performance

  • Net Loss for Q1 FY18 (30.06.17): ₹38,98,997.93
  • Net Loss for Q1 FY17 (30.06.16): ₹1,05,721.00
  • Net Loss for FY17 (31.03.17): ₹42,16,160.93
  • Profit before exceptional items and tax for Q1 FY18: Not provided (cells empty)
  • Exceptional Items for Q1 FY18: ₹34,52,146.93
  • Total Tax Expenses: Not provided (provision will be made at year-end)

Share Capital

  • Paid up equity share capital (Face Value of ₹10 per Share): ₹4,61,32,000.00 (consistent across all periods)

Key Notes and Disclosures

1. The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 29/07/2017.

2. The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013. The company adopted Ind AS effective April 1, 2017, with a transition date of April 1, 2016, and accordingly restated results for the quarter ended June 30, 2016.

3. The statement does not include Ind AS compliant results for the preceding quarter and previous year ended March 31, 2017 as it is not mandatory as per SEBI's circular dated July 5, 2016.

4. Reconciliation of Net Profit as previously reported ("Previous GAAP") and Ind-AS for the quarters/year are presented (though specific reconciliation figures are not provided in the document).

5. The limited review of unaudited financial results for the quarter ended June 30, 2017 was carried out by the statutory auditors as required by SEBI Listing Regulations. The Ind AS compliant corresponding figures for the quarter ended June 30, 2016 have not been subjected to review or audit.

6. Provision for Income Tax and Deferred Tax, if any, will be made at the end of the year.

7. Figures of the previous period quarter have been regrouped wherever necessary.