Garlon Polyfab Industries Limited reported a net loss of ₹3,827 for the quarter ended June 30, 2018, with no income generated from operations during the period. The company's total expenses for Q1FY19 stood at ₹3,827, solely comprising other expenses, as cost of materials, purchases, and finance costs were nil. The paid-up equity share capital remained unchanged at ₹46,132,000.00, with a face value of ₹10 per share.

The Board of Directors approved the unaudited financial results at a meeting held on August 29, 2018. The meeting commenced at 04:00 P.M. and concluded at 05:00 P.M. The results were reviewed by the Audit Committee and subsequently approved by the Board. The financial statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS), with the company adopting Ind AS effective April 1, 2017.

P.D. Agrawal & Co., Chartered Accountants, conducted a limited review of the unaudited financial results. The review was performed in accordance with the Standard on Review Engagement (SRE) 2410 issued by the Institute of Chartered Accountants of India. The auditors noted that they did not review the comparative figures, including reconciliation to the Total Comprehensive Income for the quarter ended June 2018, which were furnished by the management.

The company stated that the statement does not include Ind AS compliant results for the preceding quarter and previous year ended March 31, 2017, as it is not mandatory per SEBI's Circular dated July 5, 2016. Provision for Income Tax and Deferred Tax will be made at the end of the financial year. The basic earnings per share (EPS) for the year ended March 31, 2018, was reported at -0.04.

Financial Summary for Q1FY19

Garlon Polyfab Industries Limited reported a net loss of ₹31,964 for the quarter ended June 30, 2017, as the company continued to navigate a period of financial transition. The loss for the quarter ended June 30, 2017, compares to a net loss of ₹1,05,721 in the corresponding quarter of the previous year. The company's total expenses for the quarter amounted to ₹31,964, with employee benefits expense at ₹5,000 and other expenses at ₹26,964.

The Board of Directors approved the unaudited financial results at its meeting held on July 29, 2017. The meeting commenced at 04:00 P.M. and concluded at 05:00 P.M. The results were reviewed by the Audit Committee and are subject to a limited review by the statutory auditors in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

A significant development during this period was the company's adoption of the Indian Accounting Standards (Ind AS) with effect from April 1, 2017, using a transition date of April 1, 2016. Consequently, the results for the quarter ended June 30, 2016, have been restated to comply with Ind AS. The financial statement notes that Ind AS compliant results for the preceding quarter and the previous year ended March 31, 2017, are not mandatory as per a SEBI circular dated July 5, 2016, and are therefore not included.

The paid-up equity share capital of the company remained unchanged at ₹4,61,32,000, with a face value of ₹10 per share. The company reported a basic Earnings Per Share (EPS) of (0.85) for the quarter ended March 31, 2017, and (0.91) for the year ended March 31, 2017. No EPS was provided for the current quarter in the filing.

Financial Results for the Quarter Ended June 30, 2017

The filing confirms that provisions for income tax and deferred tax will be determined and made at the end of the financial year. Figures for the previous period have been regrouped where necessary to ensure comparability.