Garlon Polyfab Industries Ltd Reports Financial Results with Significant Changes in Equity Position
Garlon Polyfab Industries Limited has released its unaudited financial results, providing insights into the company’s financial health across key balance sheet components for the years ending September 2017 and September 2016.The financial statements detail the composition of assets and liabilities, showing changes in the equity position alongside a relatively stable structure of total liabilities when comparing the two periods.
Financial Position Snapshot
The company's balance sheet reflects various shifts in its asset and liability structures. The standalone statement shows that while Total Assets for the current year ended September 30, 2017 stood at 772,077, they were significantly lower compared to the previous year ended September 30, 2016, when total assets amounted to 5,748,463.Assets are categorized into Non-Current and Current components. For instance, Total Non Current Assets registered 575,698.00 in the current period, compared to a higher figure of 5,381,319 in the preceding year. Total Current Assets for September 2017 were 196,379.00, down from 367,144 in the previous financial year.
Equity and Liability Structure
The review of shareholders' fund indicates a material change between the periods. Share Capital remained consistent at 46,132,000 for both the current and previous years. However, Reserves and Surplus recorded -63,060,580.00 in the year ended September 30, 2017, compared to a position of -58,980,814 in the prior year. This resulted in the Shareholders Fund standing at -16,928,580 in 2017, while it was reported as 12,848,814 in 2016.Current liabilities also were noted across both periods. In the current financial year, Total Current Liabilities stood at 17,700,657, down from 18,597,277 in the previous year. These liabilities include Short term borrowings of 17,320,000.00 and Other current Liabilities of 44,800.00.
The total equity and liabilities for the company were reported as follows:
| Particulars | Current Year Ended (30/9/2017) | Previous Year Ended (30/9/2016) |
|---|---|---|
| Total Assets | 772,077 | 5,748,463 |
| Share Capital | 46,132,000 | 46,132,000 |
| Reserves and Surplus | -63,060,580.00 | -58,980,814 |
| Shareholders Fund | -16,928,580 | 12,848,814 |
| Current Liabilities | 17,700,657 | 18,597,277 |
| Total Equity and Liabilities | 772,077 | 5,748,463 |
The company reported results for the quarter ended September 2017 as part of its ongoing operations.
Stock Price Movement
As of 15:15, shares of Garlon Polyfab Industries Ltd are ticking up significantly, currently holding at ₹3.31, representing a rise of +19.93%. However, the stock is trading completely flat today as both the intraday high and low have been locked 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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