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.

Garlon Polyfab Industries Limited reported a net loss of ₹0.62 lakh for the quarter ended June 30, 2020, as operational income remained nil. The company's board approved the unaudited financial results on August 28, 2020, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The unaudited financial statements were reviewed by P. D. Agrawal & Co., Chartered Accountants, who issued a limited review report. The auditors noted that the statement was prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS). The firm highlighted that comparative figures for the quarter were furnished by the management and were not subject to their review.

Financial Performance

The company recorded no income from operations or other income during the quarter. Total expenses for Q1FY21 stood at ₹0.62 lakh, driven primarily by employee benefits expenses and other costs. This resulted in a net loss for the period, consistent with the loss reported in the preceding quarter and the previous fiscal year.

Key Financial Metrics

The paid-up equity share capital remained unchanged at ₹461.32 lakh during the period. The company reported a basic and diluted earnings per share (EPS) of (0.00) for the quarter. The board meeting, which commenced at 4:00 PM and concluded at 5:00 PM, also approved the limited review report accompanying the results.