Garlon Polyfab Industries Limited narrowed its net loss to ₹0.37 lakh for the quarter ended June 30, 2021, compared to a net loss of ₹0.62 lakh in the corresponding quarter of the previous year. The company continued to report zero income from operations during the period, reflecting ongoing operational inactivity. Total expenses for the quarter stood at ₹0.37 lakh, driven primarily by employee benefits expense of ₹0.36 lakh and other expenses amounting to ₹0.01 lakh.

The Board of Directors approved the unaudited financial results during a meeting held on August 14, 2021. The results were prepared in compliance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS). The limited review of the unaudited financial results was conducted by P.D. Agarwal & Co., Chartered Accountants, in accordance with the Standard on Review Engagement (SRE) 2410.

Financial Performance Summary

The table below outlines the key financial figures for the quarter and year ended periods as per the unaudited results.

Operational and Regulatory Details

The auditors noted that they did not review the comparative figures, which were furnished by the management. The paid-up equity share capital of the company remained constant at ₹461.32 lakh, with a face value of ₹10 per share. Earnings per share (EPS), both basic and diluted, were reported at (0.00) for the current and comparative periods.

Garlon Polyfab Industries Limited reported zero income from operations for the quarter ended June 30, 2024, as per the unaudited financial results approved by its Board of Directors. The company recorded no revenue from operations, other income, or total income during Q1FY25. Expenses were primarily driven by finance costs and other expenditures, while employee benefits and depreciation costs were nil.

The Board, led by Managing Director Vishal Garg, convened on August 14, 2024, to review and approve the financial statements. The meeting commenced at 04:00 P.M. and concluded at 05:00 P.M. The results have been prepared in compliance with the Indian Accounting Standards (Ind AS) under Section 133 of the Companies Act, 2013.

P.D. Agarwal & Co., Chartered Accountants, conducted the limited review of the unaudited financial results. The auditors noted that they did not review the comparative figures for the quarter ended June 30, 2024, which were furnished by the management. The review was performed in accordance with Standard on Review Engagement (SRE) 2410 issued by the Institute of Chartered Accountants of India.

Financial Performance

The company reported a net loss of ₹0.62 for the quarter ended June 30, 2024, compared to a loss of ₹0.94 in the same period last year. Total expenses stood at ₹0.62, with finance costs accounting for ₹0.28 and other expenses at ₹0.62. Changes in inventories were recorded at ₹0.36.

Key Financial Metrics

The company stated that provisions for income tax and deferred tax would be made at the end of the financial year. The paid-up equity share capital remains at ₹461.32, with a face value of ₹10 per share. The results are available on the company's website.