Garlon Polyfab Industries Limited

Garlon Polyfab Industries Limited submitted its unaudited financial results for the quarter ended December 31, 2020, to BSE Limited as required under Regulation 33(3)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The financial results show zero operational activity:

  • Income From Operations: ₹0.00 lakh for Q3 FY21 (compared to ₹0.00 lakh in previous quarter and year-ago quarter)
  • Other Income: ₹0.00 lakh for Q3 FY21
  • Total Income: ₹0.00 lakh for Q3 FY21

Expenses were minimal:

  • Employee benefits expense: ₹0.00 lakh
  • Depreciation and amortization expense: ₹0.00 lakh
  • Finance Cost: ₹0.36 lakh
  • Other expenses: ₹0.00 lakh
  • Total Expenses: ₹0.36 lakh

The company reported a net loss of ₹0.58 lakh for the quarter ended December 31, 2020, and a net loss of ₹1.58 lakh for the nine-month period ended December 31, 2020.

Capital structure remains unchanged:

  • Paid-up equity share capital: ₹0.00 lakh (Face Value of ₹10 per Share)
  • Reserves: ₹4.61 lakh
  • Earnings Per Share (Basic and Diluted): (₹0.13) for the quarter

Additional Information

The financial results were reviewed by P.D. Agrawal & Co., Chartered Accountants, who conducted their review in accordance with Standard on Review Engagement (SRE) 2410 issued by the Institute of Chartered Accountants of India. The auditors noted that the company has adopted Indian Accounting Standards (Ind AS) for the financial year commencing April 1, 2017.

The Audit Committee reviewed these results at their meeting held on February 1, 2020, and the Board of Directors approved them at its meeting held on the same date.

The document includes a reconciliation note stating that net profit/equity as previously reported under Indian GAAP has been adjusted for appreciation/(diminution) in value of investments and reclassification of net actuarial (gain)/loss on employee defined benefit obligation to other comprehensive income under Ind AS.

All figures are presented in lakhs of rupees. Previous period/year figures have been regrouped/reclassified to make them comparable with current period/year figures.