Garlon Polyfab Industries Limited submitted its unaudited financial results for the quarter ended December 31, 2022, pursuant to Regulation 33(3)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board of Directors meeting was held on February 10, 2023, from 04:00 PM to 05:00 PM, where they considered and approved the unaudited financial results.

Financial Performance (Quarter Ended December 31, 2022)

  • Revenue from Operations: ₹0.00
  • Total Income: ₹0.00
  • Total Expenses: ₹0.69 lakh
  • Profit/Loss Before Tax: (₹0.69) lakh (loss)
  • Profit/Loss for the Period: (₹0.69) lakh (loss)
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income: ₹0.00
  • Paid-up Equity Share Capital: ₹4.61 lakh (Face Value of ₹10 per share)
  • Basic EPS: (₹0.15)
  • Diluted EPS: (₹0.15)

Financial Performance (Nine Months Ended December 31, 2022)

  • Revenue from Operations: ₹0.00
  • Total Income: ₹0.00
  • Total Expenses: ₹1.57 lakh
  • Profit/Loss Before Tax: (₹1.57) lakh (loss)
  • Profit/Loss for the Period: (₹1.57) lakh (loss)
  • Other Comprehensive Income: ₹0.00
  • Total Comprehensive Income: ₹0.00
  • Basic EPS: (₹0.34)
  • Diluted EPS: (₹0.34)

Comparative Figures (Quarter Ended December 31, 2021)

  • Revenue from Operations: ₹0.00
  • Total Income: ₹0.00
  • Total Expenses: ₹0.49 lakh
  • Profit/Loss Before Tax: (₹0.49) lakh (loss)
  • Profit/Loss for the Period: (₹0.49) lakh (loss)
  • Basic EPS: (₹0.11)
  • Diluted EPS: (₹0.11)

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, who issued a limited review report stating that nothing came to their attention suggesting material misstatement.

The audit committee reviewed the standalone financial results at their meeting held on February 10, 2022, and the Board of Directors approved them at their meeting on February 10, 2022.

Notes to Financial Statements

  • The company adopted Ind AS for the financial year commencing from April 1, 2017
  • The auditors were not engaged to review comparative figures including reconciliation to Total Comprehensive Income for the quarter ended December 2022
  • These comparative figures were furnished by management
  • Reserves (excluding Revaluation Reserve) as shown in the audited balance sheet of the previous year were not quantified in the disclosure

Reconciliation Information

A reconciliation of Net Profit & Equity as previously reported under Indian GAAP (IGAAP) and Ind-AS was presented but specific amounts were not provided in the available data.