Garlon Polyfab Industries Limited submitted its unaudited financial results for the quarter and nine months ended December 31, 2021, pursuant to Regulation 33(3)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved these results at their meeting held on February 7, 2022, which commenced at 4:00 PM and concluded at 5:00 PM.

Financial Results (Amounts in ₹ Lakhs)

Quarter Ended December 31, 2021:

  • Income From Operations: ₹0.00
  • Other Income: ₹0.00
  • Total Income: ₹0.00
  • Employee Benefits Expense: ₹0.36
  • Other Expenses: ₹0.02
  • Total Expenses: ₹0.38
  • Net Loss Before Tax: (₹0.38)
  • Tax Expense: ₹0.00
  • Net Loss for the Period: (₹0.38)
  • Earnings Per Share (Basic): (₹0.08)
  • Paid-up Equity Share Capital: ₹4.61 (Face Value of ₹10 per share)

Comparative Quarter Results:

  • September 30, 2021: Net Loss of (₹0.48) lakh
  • December 31, 2020: Net Loss of (₹0.58) lakh

Nine Months Ended December 31, 2021:

  • Total Income: ₹0.00
  • Employee Benefits Expense: ₹1.08
  • Other Expenses: ₹0.15
  • Total Expenses: ₹1.23
  • Net Loss: (₹1.23)

Comparative Period Results:

  • Nine Months Ended December 31, 2020: Net Loss of (₹1.58) lakh
  • Year Ended March 31, 2021 (Audited): Net Loss of (₹3.79) lakh

Key Notes and Disclosures

1. The financial results are prepared in compliance with Indian Accounting Standards (Ind-AS) notified by the Ministry of Corporate Affairs.

2. The standalone financial results for the quarter and nine months ended December 31, 2021 were reviewed by the Audit Committee and approved by the Board of Directors on February 7, 2022.

3. The company reported zero turnover across all periods presented in the financial results.

4. The financial results have been subject to a limited review by the statutory auditors, P.D. Agarwal & Co., Chartered Accountants.

5. Previous period figures have been restated as per Ind AS and regrouped/reclassified for comparability.

6. The auditors issued a limited review report stating that nothing has come to their attention that causes them to believe the statement contains any material misstatement, though they note they were not engaged to review comparative figures including reconciliation to the Total Comprehensive Income.