Garlon Polyfab Industries Limited reported a net loss of ₹26,964 for the quarter ended September 30, 2017, compared to a net loss of ₹31,964 in the preceding quarter ended June 30, 2017. The company's total expenses for the quarter remained flat at ₹26,964. The financial results were approved by the Board of Directors on October 25, 2017.

The standalone financial results for the quarter and half year ended September 30, 2017, were reviewed by the Audit Committee and subsequently approved by the Board. The company has adopted Indian Accounting Standards (Ind AS) for the financial year commencing from April 1, 2017, and the results for previous periods have been restated to comply with these standards.

P.D. Agrawal & Co., Chartered Accountants, conducted a limited review of the unaudited financial results. The auditors noted that they were not engaged to review the comparative figures, which were furnished by the management. The review was conducted in accordance with the Standard on Review Engagement (SRE) 2410 issued by the Institute of Chartered Accountants of India.

The company's paid-up equity share capital remained unchanged at ₹46,132,000. The basic earnings per share (EPS) for the quarter was reported as (0). The total assets of the company as of September 30, 2017, stood at ₹772,077, a significant decrease from ₹5,748,463 in the previous year ended September 30, 2016.

The shareholders' funds reflected a negative balance of ₹16,928,580 for the current period, compared to a negative balance of ₹12,848,814 in the previous year. Current liabilities amounted to ₹17,700,657, slightly higher than the ₹18,597,277 reported in the corresponding period of the previous year.

Financial Results for Q2FY18

Assets and Liabilities

Garlon Polyfab Industries Limited reported a net loss of ₹0.94 lakh for the quarter ended June 30, 2023, due to zero operational income. The company's total expenses for the period amounted to ₹0.94 lakh, driven primarily by employee benefits and other costs. The Board of Directors approved the unaudited financial results at its meeting held on August 24, 2023.

The company recorded no income from operations or other income during Q1FY24. Expenses included ₹0.36 lakh towards employee benefits and ₹0.58 lakh in other expenses. In comparison, the company reported a net loss of ₹0.39 lakh for the same quarter in the previous year.

Financial Performance

The unaudited financial results for the quarter ended June 30, 2023, were reviewed by the statutory auditors, P. D. Agrawal & Co., Chartered Accountants. The auditors noted that the comparative figures were not reviewed by them and were furnished by the management.

Key Disclosures

The financial statements have been prepared in compliance with the Indian Accounting Standards (Ind AS). The company stated that provisions for income tax and deferred tax would be made at the end of the financial year. The earnings per share (EPS) for the quarter remained at ₹0.00.