Garlon Polyfab Industries Releases Q3 Financial Results with Limited Review Report
Garlon Polyfab Industries Ltd has released its unaudited financial results for the quarter ended September, 2022. The results have been presented alongside a limited review report conducted by Chartered Accountants P.D. Agrawal & Co., providing moderate assurance on the company's interim performance.The company’s standalone financial statement reflects both operational and balance sheet movements for the specified period.
Financial Performance Overview
The income figures show data across different reporting periods, detailing operating income, expenses, and net profit/loss. The results are presented in Rupeos Lacs.| Particulars | Quarter Ended September 2022 | Quarter Ended September 2021 | Half Year Ended August 2021 | Year Ended March 2022 |
|---|---|---|---|---|
| Total Income from Operations | 3 | 5 | - | - |
| Expenses | 7 | 7 | 9 | 23 |
| Profit (Loss) before exceptional items and extraordinary items | (0.39) | (0.48) | (0.88) | 79 |
| Net Profit/(Loss) for the period from continuing operations | (0.39) | (0.48) | (0.85) | (379) |
The company’s operational expenses were reported as 7 in the quarter ended September, 2022, compared to 7 in the previous year's corresponding period. Net profit/(loss) for the period from continuing operations stood at (0.39), down from (0.48) in the previous year.
Balance Sheet Snapshot
The standalone statement of assets and liabilities highlights changes in the company’s financial structure between the current and previous reporting years.| Financial Indicator | Current Year Ended 30/9/2022 | Previous Year Ended 30/9/2021 |
|---|---|---|
| Total Assets | 6.17 | 6.13 |
| Share Capital | 461.32 | 461.32 |
| Reserves and Surplus | -656.77 | -654.45 |
| Current Liabilities Total | 201.62 | 199.26 |
The balance sheet shows that Non-Current Assets totaled 5.76, with this amount remaining consistent compared to the previous year. The company reported a total of 0.41 in Cash and Cash equivalents for the current quarter, up from 0.37 in the prior period.
Auditor's Review Findings
The limited review was conducted by P.D. Agrawal & Co., Chartered Accountants, based on the Standard on Review Engagement (SRE) 2410. The firm stated 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 that it contained any material misstatement.The review confirmed that the financial statements adhere to Ind AS and compliance requirements regarding information disclosure. It was noted that comparative figures for the quarter were provided by management but were outside the scope of the limited review engagement.
Stock Price Movement
As of 15:15, Garlon Polyfab Industries Ltd. is edging higher, currently trading at ₹3.31, which registers a strong +19.93% gain. The shares are completely locked into an intraday range, as the high and low both rest precisely 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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