Garlon Polyfab Industries Limited

Board Meeting Details

The Board of Directors meeting was held on October 25, 2017, commencing at 04:00 PM and concluding at 05:00 PM. The Board inter-alia considered and approved the unaudited financial results for the quarter ended September 30, 2017.

Financial Results (Quarter Ended September 30, 2017)

Income Statement Highlights (Amounts in ₹):

  • Total Income from Operations: ₹26,964
  • Total Expenses: ₹26,964
  • Finance Cost: Not quantified in disclosure
  • Profit/(Loss) before exceptional items and tax: ₹26,084
  • Exceptional Items: ₹(26,964)
  • Net Profit/(Loss) before tax: ₹(26,964)
  • Tax Expense: ₹0 (Current Tax: ₹0, Deferred Tax: ₹0)
  • Net Profit/(Loss) for the period from continuing operations: ₹(26,964)
  • Net Profit/(Loss) for the period from discontinuing operations: ₹0
  • Profit/(Loss) for the period: ₹(26,964)
  • Other Comprehensive Income: ₹0
  • Total Comprehensive Income: ₹(26,964)
  • Paid-up equity share capital (Face Value ₹10 per share): ₹46,132,000
  • Earnings Per Share (EPS): Not quantified in disclosure

Comparative Figures:

  • Q1 FY18 (June 30, 2017) Net Loss: ₹(31,964)
  • Half-Year FY18 (September 30, 2017) Net Loss: ₹(58,928)
  • FY17 (March 31, 2017) Net Loss: ₹(4,216,161)

Balance Sheet Position (As of September 30, 2017)

Assets (Amounts in ₹):

  • Non-Current Assets: ₹575,698.00
  • Current Assets: ₹196,379.00
  • Total Assets: ₹772,077

Equity and Liabilities (Amounts in ₹):

  • Shareholders' Fund: ₹(16,928,580) (Share Capital: ₹46,132,000; Reserves and Surplus: ₹(63,060,580))
  • Non-Current Liabilities: ₹0
  • Current Liabilities: ₹17,700,657 (Short-term borrowings: ₹17,320,000; Trade payables: ₹44,800; Other current liabilities: ₹335,857)
  • Total Equity and Liabilities: ₹772,077

Limited Review Report

P.D. Agrawal & Co., Chartered Accountants (Firm Registration No. 00), conducted a limited review of the unaudited financial results. Their report dated October 25, 2017, states:

  • The review was performed in accordance with Standard on Review Engagement (SRE) 2410.
  • Nothing came to their attention that causes them to believe the statement contains any material misstatement.
  • The statement was prepared in accordance with Ind AS and SEBI Listing Regulations requirements.
  • The company adopted Ind AS effective from April 1, 2017.
  • The auditors did not review comparative figures for the quarter ended September 2017, which were furnished by management.

Additional Information

The financial results have been published on the company's website at https://www.garlonpolyfabindustriesltd.com/.