Garlon Polyfab Industries Limited

Board Approval Details

The Board of Directors meeting was held on June 29, 2021, commencing at 04:00 PM and concluding at 05:00 PM. The board approved the unaudited financial results for the quarter/period ended March 31, 2021, along with the auditor's report.

Financial Results Summary

Quarter Ended March 31, 2021 (Unaudited):

  • Total Income: ₹0.09 lakh (entirely from Other Income)
  • Total Expenses: ₹2.30 lakh
  • Employee benefits expense: ₹0.35 lakh
  • Other expenses: ₹1.94 lakh
  • Net Loss before tax: ₹(2.21) lakh
  • Tax Expense: ₹Nil
  • Net Loss for the period: ₹(2.21) lakh
  • Basic and Diluted EPS: ₹(0.0048)

Year Ended March 31, 2021 (Audited):

  • Total Income: ₹0.09 lakh
  • Total Expenses: ₹3.88 lakh
  • Employee benefits expense: ₹1.44 lakh
  • Other expenses: ₹2.44 lakh
  • Net Loss before tax: ₹(3.79) lakh
  • Tax Expense: ₹Nil
  • Net Loss for the period: ₹(3.79) lakh
  • Basic and Diluted EPS: Not quantified in disclosure

Comparative Figures (Year Ended March 31, 2020 - Audited):

  • Net Loss: ₹(2.42) lakh
  • Basic and Diluted EPS: ₹(0.005)

Balance Sheet Position (as at March 31, 2021)

  • Total Assets: ₹6.15 lakh
  • Non-Current Assets: ₹5.76 lakh (Goodwill on consolidation: ₹5.76 lakh)
  • Current Assets: ₹0.39 lakh
  • Shareholders' Funds: ₹(192.28) lakh (Negative)
  • Share Capital: ₹461.32 lakh
  • Reserves and Surplus: ₹(653.60) lakh (Negative)
  • Total Equity and Liabilities: ₹6.15 lakh

Accounting Standards and Compliance

The financial results are prepared in compliance with Indian Accounting Standards (Ind AS) notified by the Ministry of Corporate Affairs. The results for previous periods have been restated as per Ind AS requirements.

Audit Committee and Statutory Auditors Review

The standalone financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on June 29, 2021. The results have been audited by the statutory auditors, P.D. Agrawal & Co., Chartered Accountants.

Auditor's Opinion

The auditors opine that:

1. The financial results have been presented in accordance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2. The results give a true and fair view of the financial information including other comprehensive income for the quarter ended March 31, 2021 and year-to-date results for the period from April 1, 2020 to March 31, 2021

Additional Information

  • Paid-up equity share capital: ₹461.32 lakh (Face Value of ₹10 per Share)
  • Previous period/year figures have been regrouped/reclassified for comparability