GARLON POLYFAB INDUSTRIES LIMITED

Financial Performance Highlights (Quarter Ended September 30, 2019)

Income Statement (in Rupees):

  • Total Income from operations: ₹0
  • Other income: ₹0
  • Total Income: ₹0
  • Expenses: ₹310,932
  • Profit/(Loss) before exceptional items and extraordinary items: ₹(310,932)
  • Exceptional items: ₹0
  • Profit/(Loss) before tax: ₹(310,932)
  • Tax Expense: ₹0
  • Profit/(Loss) for the period from continuing operations: ₹(310,932)
  • Profit/(Loss) for the period from discontinuing operations: ₹0
  • Profit/(Loss) for the period: ₹(310,932)
  • Other Comprehensive Income: ₹0
  • Total Comprehensive Income: ₹(310,932)

Earnings Per Share (EPS):

  • Basic EPS: Not quantifiable (loss position)
  • Diluted EPS: Not quantifiable (loss position)

Half Year Performance (Ended September 30, 2019)

Income Statement (in Rupees):

  • Profit/(Loss) for the half year: ₹(636,831)
  • Total Comprehensive Income for the half year: ₹(636,831)

Balance Sheet Position (as of September 30, 2019)

Assets (in Rupees):

  • Non-Current Assets: ₹575,698 (Long term loans and advances)
  • Current Assets: Cash and Cash equivalents: ₹(68,754.88) [negative balance]
  • Total Assets: ₹644,452.88

Equity and Liabilities (in Rupees):

  • Share Capital: ₹46,132,000.00
  • Reserves and Surplus: ₹(64,784,974.12) [negative reserves]
  • Shareholders Fund: ₹(18,652,974.12) [negative equity]
  • Current Liabilities: ₹19,297,427.00 (Short term borrowings: ₹18,863,000.00, Trade payables: ₹385,000.00, Other short term provisions: ₹49,427.00)
  • Total Equity and Liabilities: ₹644,452.88

Comparative Figures

Previous Quarter (June 30, 2019):

  • Profit/(Loss) for the quarter: ₹(138,359)

Year Ended March 31, 2019 (Audited):

  • Total Income from operations: ₹130,993,900
  • Total Expenses: ₹154,371,026
  • Profit/(Loss) before tax: ₹(23,377,126)

Quarter Ended September 30, 2018:

  • Profit/(Loss) for the quarter: ₹(540,658)

Accounting Policies and Notes

  • The company has adopted Ind AS for the financial year commencing from April 1, 2017
  • The financial results are prepared in compliance with Indian Accounting Standards (Ind-AS)
  • Comparative figures including reconciliation to the Total Comprehensive Income for the quarter ended September 2019 have been furnished by Management and were not reviewed by auditors
  • Paid up equity share capital: 4,613,200 shares of face value ₹10/- per share

Review and Approval Process

  • The results were reviewed by the Audit Committee meeting held on November 8, 2019
  • Approved by the Board of Directors at their meeting held on November 8, 2019
  • Limited review conducted by P.D. Agrawal & Co., Chartered Accountants (Firm Registration No. 001049C)
  • Review report dated November 11, 2019, issued by CA Tarun Gupta (Partner, Membership No.: 077468)

Auditor's Limited Review Opinion

Based on their review, nothing has come to the auditor's attention that causes them to believe that the financial results:

  • Have not been prepared in all material respects in accordance with Ind AS
  • Have not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations
  • Contain any material misstatement