Financial Results for Quarter Ended June 30, 2016:
- Income From Operations: ₹0 (no revenue reported)
- Total Expenses: ₹1,54,341
- Employee benefits expense: ₹80,026
- Other expenses: ₹74,315
- Net Loss before tax: ₹(1,54,341)
- Net Loss for the period: ₹(1,54,341)
- Earnings Per Share (EPS): Not quantified for the quarter
Comparative Financial Performance:
- Quarter ended March 31, 2016: Net Loss of ₹(2,98,662)
- Quarter ended June 30, 2015: Net Loss of ₹(44,609)
- Year ended March 31, 2016: Net Loss of ₹(6,08,908) with EPS of (0.130) both basic and diluted
Accounting Standards and Review:
The company adopted Indian Accounting Standards (Ind AS) for the financial year commencing from April 1, 2016, in accordance with the Companies (Indian Accounting Standards) Rules, 2015.
P.D. Agarwal & Co., Chartered Accountants, conducted a limited review of the unaudited financial results pursuant to Regulation 33 of the Listing Regulations, 2015. Their review, performed under SRE 2410, found no material misstatements and confirmed preparation in accordance with Ind AS and other recognized accounting practices.
Notes to Financial Results:
1. The audited results for the quarter and year ended June 30, 2016 were reviewed by the Audit Committee and approved by the Board of Directors.
2. Previous period figures have been regrouped where necessary to conform to current year classification.
3. The company is engaged in one business segment only.
4. EPS has been calculated in accordance with AS-20 issued by ICAI.
The information has been made available on the company's website at https://www.garlonpolyfabindustriesltd.com/.