Garlon Polyfab Industries Limited Releases Unaudited Financial Results with Limited Review Report
Garlon Polyfab Industries Limited has released its unaudited financial results for the quarter ended December, 2022, along with a limited review report prepared by Chartered Accountants P.D. Agrawal & Co.The Statement of the financial results was reviewed in accordance with the Standard on Review Engagement (SRE) 2410, which is issued by the Institute of Chartered Accountants of India. This standard requires a review to obtain moderate assurance regarding whether the financial statements are free from material misstatement. The auditors confirmed that they did not perform an audit and therefore do not express an audit opinion.
Based on the limited review conducted, P.D. Agrawal & Co. reported that nothing came to their attention that suggested the Statement had not been prepared in all material respects in accordance with Ind AS and other recognized accounting practices, nor did it contain any material misstatement.
The review confirmed that Garlon Polyfab Industries Limited adopted Ind AS for the financial year beginning April 1, 2017, ensuring compliance of the Statement preparation with this standard.
The audit report also noted a specific aspect regarding comparative figures. As detailed in Note 5 of the Statement, the management furnished the comparative figures and reconciliation to Total Comprehensive Income for the quarter ended December, 2022. The auditors specified that they neither reviewed nor reviewed these comparative figures.
Stock Price Movement
Garlon Polyfab Industries Ltd shares are edging higher at 15:15, trading at ₹3.31 which reflects a robust gain of 19.93%. Despite the sharp movement on paper, the stock is currently locked, with its intraday high and low both sitting firmly at the ₹3.31 level.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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