Garlon Polyfab Industries Ltd Presents Unaudited Financial Results for Quarter Ended June 30, 2021
Garlon Polyfab Industries Limited has released its unaudited financial results for the quarter ended June 30, 2021. The company's management is responsible for the Statement, which was prepared in adherence to Ind AS and other recognized accounting practices.The statement underwent a review conducted in accordance with the Standard on Review Engagement (SRE) 2410, issued by the Institute of Chartered Accountants of India. While the review provides moderate assurance, it is distinct from an audit opinion.
Based on the independent auditor's review, nothing was found to cause them to believe that the Statement had not been prepared materially in accordance with Ind AS and other recognized accounting practices, nor did it contain any material misstatement. The management confirmed adherence to Ind AS for the financial year commencing April 1, 2017.
Financial Performance Summary
The unaudited results provide key insights into various operational areas during the quarter. A summary of the financial data is presented below:| Key Metric | Quarter Ended June 30, 2021 |
|---|---|
| Revenue from Operations (₹ Lakhs) | 41 |
| Material Consumables (₹ Lakhs) | 1 |
| Revenue of Finished Goods/Work-in-Progress and Stock-in-Hand | N/A |
| Employee Benefits Expense (₹ Lakhs) | 3 |
| Depreciation and Amortization Expense (₹ Lakhs) | 1 |
| Cost of Expenses (₹ Lakhs) | 1.4 |
| Interest Expense and Extraordinary Items (₹ Lakhs) | (67) |
| Operating Income (₹ Lakhs) | 1 |
| Current Tax (₹ Lakhs) | 4 |
| Total Tax Expenses (₹ Lakhs) | 0 |
| Earnings Before Interest and Tax (EBIT) (₹ Lakhs) | 37 |
| Loss for the Quarter from Disposals (₹ Lakhs) | 8 |
| Sales Expense of Operations (₹ Lakhs) | 1 |
| Profit attributable to Equity Shareholders (Face Value ₹ 10 each) | 461.33 |
Note: Figures are presented as per the source document, with specific units noted where applicable.
Operational Notes and Compliance Status
The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on April 27, 2021.Regarding financial obligations, one note highlighted that a provision in tax and deferred taxes will be made at the end of the year. The company also confirmed compliance with Section 133 of the Companies Act, 2013 (Ind AS) and other recognized accounting practices.
Stock Price Movement
As of 15:15, shares of Garlon Polyfab Industries Ltd are edging higher at ₹3.31, posting a gain of 19.93%. The stock is currently trading completely flat, with the intraday high and low locked steady at ₹3.31.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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