Garlon Polyfab Industries Limited reported a net profit of ₹12,399 for FY26, marking a turnaround from the net loss of ₹3,24,957 recorded in the previous year. The company has issued the notice for its 35th Annual General Meeting (AGM) scheduled for September 30, 2026.

The Board of Directors approved the financial statements and key appointments during a meeting held on September 7, 2026. Shareholders can exercise remote e-voting from September 27 to September 29, 2026.

Financial Performance

The company recorded zero revenue from operations for both FY26 and FY25. The shift to profitability was driven entirely by other income, which stood at ₹3,85,000 in FY26 compared to nil in the prior year. This income offset total expenses of ₹3,72,601, resulting in the net profit.

Auditor Appointments

The AGM agenda includes the appointment of M/s. S N D K & Associates LLP as Statutory Auditors for five years, replacing the retiring M/s. P. D. Agrawal & Co. Additionally, M/s. Prakash Pandey & Co. will be appointed as Secretarial Auditors for a five-year term commencing from FY25-26.

Corporate Governance

Mr. Deendayal Katare Gupta is liable to retire by rotation and seeks re-appointment as a Non-Executive Director. The company disclosed that its trading remains suspended on BSE Limited, with management stating it is making efforts to revoke the suspension after clearing dues.

What the Numbers Show

The company’s entire income for FY26 originated from non-operational sources. With zero revenue from operations, the reported profit reflects a balance sheet adjustment rather than core business activity, consistent with the disclosure that manufacturing operations have ceased since 1998.

Garlon Polyfab Industries Limited appointed M/s. Prakash Pandey & Co. as its secretarial auditor for the period from FY26 to FY30. The Board approved the appointment during its meeting held on July 10, 2026, subject to shareholder approval.

The company disclosed that it has not generated any revenue from operations. It is currently facing significant administrative and operational challenges. These factors contributed to the delay in submitting the auditor appointment details to the exchange within the stipulated timeline.

Regulatory Context

Garlon Polyfab informed the BSE Limited about the appointment pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The firm also referenced SEBI Master Circular Ref. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The company stated the delay was unintentional and without malafide intent to withhold material information. It requested a lenient view from the exchange to close the query.

Auditor Details

Prakash Pandey, the proprietor, holds Certificate of Practice No. 23619 and is a Fellow Member of the Institute of Company Secretaries of India. He possesses experience in corporate laws, secretarial compliance, and SEBI regulations.

Operational Status

The company is in the process of obtaining revocation of the suspension of trading of its securities. Garlon Polyfab emphasized its commitment to regularizing all pending compliances at the earliest. The Board meeting commenced at 3:00 pm and concluded at 3:30 pm.