Garlon Polyfab Industries Limited reported a net loss of ₹38,98,998 for the quarter ended March 31, 2017, as the company recorded zero income from operations. The loss for the period was significantly higher than the ₹1,52,227 loss posted in the corresponding quarter of the previous year. For the full financial year ended March 31, 2017, the company accumulated a net loss of ₹42,16,161, widening from the ₹6,08,908 loss recorded in the previous accounting year.

The Board of Directors approved the audited financial results at a meeting held on April 25, 2017. The filing was made in compliance with Regulation 33(3)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee prior to approval.

Financial data indicates that the company generated no revenue from operations or other income during the quarter. Total expenses for the three-month period amounted to ₹4,46,851, driven primarily by exceptional items amounting to ₹34,52,147. Other operational expenses included ₹63,215 towards other expenses and ₹42,507 for employee benefits.

The Basic Earnings Per Share (EPS) for the quarter stood at (0.85), compared to (0.130) in the previous financial year. The company’s balance sheet as of March 31, 2017, showed shareholder funds at negative ₹6,29,98,779, reflecting the accumulated losses. Short-term borrowings stood at ₹1,72,12,000.

Financial Results for Q4FY17

Statement of Assets and Liabilities

Garlon Polyfab Industries Limited reported a net loss of ₹0.51 lakh for the quarter ended September 30, 2024, as the company recorded zero income from operations. The loss for the half year ended September 30, 2024, widened to ₹1.13 lakh compared to ₹2.39 lakh in the same period last year. The Board of Directors approved the unaudited financial results at a meeting held on November 14, 2024.

The company's financial statements reveal a complete absence of revenue streams, including income from operations and other income. Total expenses for the quarter amounted to ₹0.51 lakh, driven by employee benefits expense of ₹0.36 lakh and other expenses of ₹0.15 lakh. For the half year, total expenses reached ₹1.13 lakh, with employee benefits costing ₹0.72 lakh and other expenses totaling ₹0.41 lakh.

Financial Performance

The standalone statement of profit and loss highlights the company's continued operational inactivity during the quarter. The figures for the quarter ended June 30, 2024, also reflected a net loss of ₹0.62 lakh with no operational income. The company's earnings per share (EPS) remained at (0.00) for both basic and diluted categories.

Key Financial Metrics (₹ in Lacs)

Balance Sheet Position

The company's balance sheet as of September 30, 2024, shows total assets of ₹6.22 lakh, a decrease from ₹6.39 lakh in the previous year. Non-current assets, consisting solely of long-term loans and advances, stood at ₹5.75 lakh. Current assets were reported at ₹0.47 lakh, entirely comprising cash and cash equivalents.

On the liabilities side, shareholders' funds turned negative at ₹-202.63 lakh, primarily due to a negative reserves and surplus balance of ₹-663.95 lakh against a share capital of ₹461.32 lakh. Current liabilities increased to ₹208.85 lakh, with short-term borrowings accounting for ₹197.50 lakh.

Assets and Liabilities Summary (₹ in Lacs)

The statutory auditors, D.C. Shukla & Co., performed a limited review of the financial results. The report confirmed that the results were prepared in compliance with Indian Accounting Standards (Ind-AS). The auditors noted that they did not review the comparative figures or the reconciliation to total comprehensive income, which were furnished by the management.