Garlon Polyfab Industries Limited

Board Approval

The Board of Directors approved the unaudited financial results at their meeting held on November 8, 2019, which commenced at 4:00 PM and concluded at 5:00 PM.

Financial Results Overview

Quarter Ended September 30, 2019:

  • Total Income from operations: ₹0.01
  • Other Income: Not specified
  • Total Expenses: ₹31,093.20
  • Other expenses: ₹31,093.20
  • Depreciation and amortization: Not quantified
  • Finance Cost: Not quantified
  • Net Loss before tax: ₹(31,093.20)
  • Tax Expense: Not applicable
  • Net Loss for the period: ₹(31,093.20)
  • Paid-up equity share capital: ₹46,132,000 (face value ₹10 per share)
  • Reserves: Negative ₹46,132,000 (excluding revaluation reserve)
  • Earnings Per Share (EPS): Not calculated

Half Year Ended September 30, 2019:

  • Total Income from operations: ₹0.00
  • Net Loss for the period: ₹(44,929.10)

Comparative Figures (Quarter Ended September 30, 2018):

  • Net Loss: ₹(636,831.00)

Year Ended March 31, 2019 (Audited):

  • Total Income: ₹1,309,939.00
  • Total Expenses: ₹1,309,939.00
  • Net Loss: ₹(233,771.26)

Financial Position (Standalone Statement of Assets and Liabilities as of September 30, 2019)

Assets:

  • Non-Current Assets: ₹575,698.00 (Long term loans and advances)
  • Current Assets: Negative ₹68,754.88 (Cash and Cash equivalents)
  • Total Assets: Negative ₹644,452.88

Equity and Liabilities:

  • Shareholders Fund: Negative ₹64,784,974.12
  • Share Capital: ₹46,132,000.00
  • Reserves and Surplus: Negative ₹46,132,000.00
  • Current Liabilities: ₹19,297,427.00
  • Trade payables: ₹18,863,000.00
  • Other current liabilities: ₹385,000.00
  • Other short term provisions: ₹49,427.00
  • Total Equity and Liabilities: Negative ₹644,452.88

Accounting Standards and Review

The financial results have been prepared in compliance with Indian Accounting Standards (Ind AS) adopted from April 1, 2017. The limited review was conducted by P.D. Agarwal & Co., Chartered Accountants (Firm Registration No. 001049C), who issued a report dated November 11, 2019, stating that nothing came to their attention suggesting material misstatement.

Notes

  • The company adopted Ind AS from the financial year commencing April 1, 2017.
  • Comparative figures including reconciliation to Total Comprehensive Income for the quarter ended September 2019 were furnished by management and not reviewed by auditors.
  • The results for previous periods have been restated as per Ind AS.

Additional Information

The information has been made available on the company's website at https://www.garlonpolyfabindustriesitd.com/.