Garlon Polyfab Industries Limited submitted its audited financial results for the quarter and year ended March 31, 2019, pursuant to SEBI Listing Obligations and Disclosure Requirements Regulation 33.

The Board of Directors meeting was held on May 15, 2019, from 4:00 PM to 5:00 PM, where they approved the audited financial results. The company declared that the auditor's report contains an unmodified opinion.

Financial Performance (Quarter Ended March 31, 2019)

  • Income From Operations: ₹0.00 lakh
  • Other Income: ₹13.10 lakh
  • Total Income: ₹13.10 lakh
  • Expenses: ₹4.33 lakh (comprising Other Expenses only)
  • Profit Before Tax: ₹8.77 lakh
  • Tax Expense: ₹0.00 lakh
  • Net Profit: ₹8.77 lakh
  • Earnings Per Share (Basic): ₹0.19
  • Earnings Per Share (Diluted): ₹0.11

Financial Performance (Year Ended March 31, 2019)

  • Income From Operations: ₹0.00 lakh
  • Other Income: ₹13.10 lakh
  • Total Income: ₹13.10 lakh
  • Expenses: ₹15.44 lakh (comprising Employee Benefits Expense ₹0.00 lakh and Other Expenses ₹15.44 lakh)
  • Loss Before Tax: ₹(2.34) lakh
  • Tax Expense: ₹0.00 lakh
  • Net Loss: ₹(2.34) lakh
  • Earnings Per Share (Basic): ₹(0.05)
  • Earnings Per Share (Diluted): ₹(0.05)

Balance Sheet Position (as of March 31, 2019)

  • Total Assets: ₹6.50 lakh
  • Non-Current Assets: ₹5.76 lakh (Long term loans and advances)
  • Current Assets: ₹0.74 lakh (Cash and Cash equivalents)
  • Equity and Liabilities: ₹6.50 lakh
  • Shareholders Fund: ₹(186.08) lakh (Share Capital: ₹461.32 lakh, Reserves and Surplus: ₹(647.40) lakh)
  • Current Liabilities: ₹192.58 lakh (Short term borrowings: ₹188.05 lakh, Trade payables: ₹3.85 lakh, Other short term provisions: ₹0.68 lakh)

Cash Flow Statement (Year Ended March 31, 2019)

  • Cash Flow from Operating Activities: ₹151,504.571
  • Cash Flow from Investing Activities: ₹0.00
  • Cash Flow from Financing Activities: ₹1,425,000.00 (Proceeds from Share Capital)
  • Net Increase in Cash: ₹(80,045.71)
  • Opening Cash Balance: ₹164,229.69
  • Closing Cash Balance: ₹74,183.98

Additional Information

  • The financial results are prepared in compliance with Indian Accounting Standards (Ind-AS).
  • The results have been audited by P.D. Agrawal & Co., Chartered Accountants (FRN: 001049C).
  • The audit report dated May 14, 2019, confirms the financial results give a true and fair view.
  • Paid-up equity share capital remained unchanged at ₹461.32 lakh with face value of ₹10 per share.
  • Previous period figures have been regrouped/reclassified for comparability.