The Board considered and approved the unaudited financial results of the Company for the quarter and half year ended September 30, 2016.

Financial Results Highlights

Quarter Ended September 30, 2016 (Unaudited):

  • Employee benefits expense: ₹27,000
  • Other expenses: ₹16,855
  • Total expenses: ₹43,855
  • Net loss before tax: (₹43,855)
  • Net loss for the period: (₹43,855)

Quarter Ended June 30, 2016 (Unaudited):

  • Employee benefits expense: ₹80,026
  • Other expenses: ₹74,315
  • Total expenses: ₹1,54,341
  • Net loss before tax: (₹1,54,341)
  • Net loss for the period: (₹1,54,341)

Quarter Ended September 30, 2015 (Unaudited):

  • Employee benefits expense: ₹57,093
  • Other expenses: ₹55,168
  • Total expenses: ₹1,12,261
  • Net loss before tax: (₹1,12,261)
  • Net loss for the period: (₹1,12,261)

Half Year Ended September 30, 2016 (Unaudited):

  • Employee benefits expense: ₹1,07,026
  • Other expenses: ₹91,170
  • Total expenses: ₹1,98,196
  • Net loss before tax: (₹1,98,196)
  • Net loss for the period: (₹1,98,196)

Half Year Ended September 30, 2015 (Unaudited):

  • Employee benefits expense: ₹99,301
  • Other expenses: ₹57,569
  • Total expenses: ₹1,56,870
  • Net loss before tax: (₹1,56,870)
  • Net loss for the period: (₹1,56,870)

Year Ended March 31, 2016 (Audited):

  • Employee benefits expense: ₹2,54,935
  • Other expenses: ₹3,53,973
  • Total expenses: ₹6,08,908
  • Net loss before tax: (₹6,08,908)
  • Net loss for the period: (₹6,08,908)

Additional Financial Information

Earnings per share (EPS) data is not provided in the disclosure for any period.

Cash Flow Statement (Half Year Ended September 30, 2016)

  • Net profit before tax & extraordinary items: (₹1,98,196)
  • Provision: (₹31,446)
  • Operating profit before working capital changes: (₹2,29,642)
  • Short term borrowing: ₹20,000
  • Cash generated from operations: ₹20,000
  • Cash flow from operating activities: ₹2,09,642
  • Net cash flow in financing activities: ₹2,09,642
  • Net increase in cash and cash equivalents: ₹2,35,656
  • Opening cash and cash equivalents: ₹2,60,142
  • Closing cash and cash equivalents: Not quantified in disclosure

Auditor's Review

P.D. Agarwal & Co., Chartered Accountants, conducted a limited review of the unaudited financial results. Their review concluded that nothing came to their attention causing them to believe that the statement:

  • Has not been prepared in all material respects in accordance with Ind AS
  • Has not disclosed information required by Regulation 33 of Listing Regulations, 2015
  • Contains any material misstatement

The auditors noted that the Company has adopted Indian Accounting Standards (Ind AS) for the financial year commencing from April 1, 2016, and the statement has been prepared in compliance with Ind AS. They also noted that they were not engaged to review the comparative figures including reconciliation to the Total Comprehensive Income for the quarter ended September 2016, which were furnished by management.

Notes to Financial Results

  • The company has adopted Ind AS for the financial year commencing from April 1, 2016
  • Figures of previous periods have been regrouped where necessary to conform to current year classification
  • The company is engaged in one business segment only
  • EPS has been calculated in accordance with AS-20 issued by ICAI

The above information has been made available on the company website at https://www.garlonpolyfabindustriesltd.com.