Garlon Polyfab Industries Limited

Board Meeting Details

The Board of Directors meeting was held on August 29, 2018, from 4:00 PM to 5:00 PM where the unaudited financial results were approved.

Financial Results Summary

| Period | Net Profit/(Loss) | Total Income | Total Expenses | EPS (Basic) |

| Quarter Ended 30.06.2018 (Unaudited) | (₹3,827.00) | Not specified | ₹3,827.00 | Not specified |

| Quarter Ended 31.03.2018 (Unaudited) | (₹111,664.00) | Not specified | ₹111,664.00 | Not specified |

| Quarter Ended 30.06.2017 (Unaudited) | (₹31,964.00) | Not specified | ₹26,991.00 | Not specified |

| Year Ended 31.03.2018 (Audited) | (₹179,855.76) | Not specified | ₹174,855.76 | (₹0.04) |

Key Financial Metrics

  • Employee benefits expense: ₹5,000.00 for quarter ended 30.06.2017
  • Depreciation and amortisation expense: ₹5,000.00 for year ended 31.03.2018
  • Paid-up equity share capital: ₹46,132,000.00 (Face Value of ₹10 per Share)
  • Reserves (excluding Revaluation Reserve): ₹46,132,000.00 as per audited balance sheet of previous year

Accounting Standards and Notes

The financial results have been prepared in accordance with:

  • Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of Companies Act, 2013
  • The company adopted Ind AS effective April 1, 2017, with transition date of April 1, 2016
  • The statement does not include Ind AS compliant results for preceding quarter and previous year ended March 31, 2017 as it is not mandatory per SEBI Circular dated July 5, 2016
  • Provision for Income Tax and Deferred Tax, if any, will be made at the end of the year
  • Figures of previous period/quarter have been regrouped wherever necessary

Auditor's Limited Review Report

P.D. Agrawal & Co., Chartered Accountants (Firm Registration No. 001049C) conducted the limited review of unaudited financial results for the quarter ended June 30, 2018, as required under SEBI Listing Regulations.

Key qualifications in auditor's report:

  • The auditors were not engaged to review comparative figures including reconciliation to the Total Comprehensive Income for the quarter ended June 2018
  • These comparative figures have been furnished by management without review
  • The review provides moderate assurance, not equivalent to an audit

The auditors noted that nothing has come to their attention that causes them to believe that the Statement has not been prepared in all material respects in accordance with Ind AS and other recognized accounting practices and policies.