Garlon Polyfab Industries Reports Financial Results and Balance Sheet for Quarter Ended March 31, 2019
Garlon Polyfab Industries Limited has released its quarterly financial results and the standalone statement of assets and liabilities for the quarter ended March 31, 2019. The company's financial performance data, which covers the period from April 01, 2018, to March 31, 2019, has been audited by P. D. Agrawal & Co., Chartered Accountants.The auditors confirmed that the quarterly and year to date results for Garlon Polyfab Industries Limited were prepared on interim financial statements according to Accounting standard 25 of Interim Financial Reporting (IND AS). They stated that the results provided a true and fair view of the company's financial information for the specified periods, in compliance with relevant regulations.
Key Financial Results Summary
The audited results provide insights into various operational aspects for the different periods presented. The key components of revenue and expenses across the reporting periods are detailed below (figures in Lacs):| Particulars | Q ended 31/03/2019 (Unaudited) | Year ended 31/03/2019 (Audited) | FY ended 31/03/2018 (Audited) |
|---|---|---|---|
| Total Income from operations | 1310 | N/A | N/A |
| Profit/(Loss) before tax (Before exceptional items and extraordinary items) | N/A | (194) | N/A |
| Basic Earnings Per Share (EPS) | 0.19 | N/A | (0.04) |
Standalone Financial Position on March 31, 2019
The standalone statement of assets and liabilities highlights the company's financial structure as of March 31, 2019, compared to the previous year ended March 31, 2018. Total Assets stood at 6.50 (Lacs), a reduction from 7.40 (Lacs) in the previous fiscal year.The company’s equity structure includes Share Capital of 461 (Lacs). However, Reserves and Surplus showed a decrease to (-647.40) (Lacs) from (-631.96) (Lacs) in the prior year.
Current Liabilities for March 31, 2019, totaled 192.58 (Lacs), comprising Short term borrowings at 188.05 (Lacs) and Other current liabilities totaling 4.53 (Lacs). Non Current Assets included Long term loans and advances amounting to 5.76 (Lacs).
A detailed comparison of the balance sheet elements is presented in the table below:
| Particulars | March 31, 2019 (In Lacs) | March 31, 2018 (In Lacs) |
|---|---|---|
| Assets | ||
| Non Current Assets (Sub Total) | 5.76 | 5.76 |
| Current Assets (Sub Total) | 0.74 | 1.64 |
| Total Assets | 6.50 | 7.40 |
| Equity and Liabilities | ||
| Shareholders Fund (Share Capital) | 461 | 461.32 |
| Shareholders Fund (Reserves and Surplus) | -647.40 | -631.96 |
| Non Current Liabilities (Sub Total) | N/A | N/A |
| Current Liabilities (Short term borrowings) | 188.05 | 173.80 |
| Current Liabilities (Trade payables) | 3.85 | N/A |
| Current Liabilities (Other current liabilities) | 4.53 | 0.46 |
Net Profit Reconciliation
The standalone financial results of the company for the quarter and year ended March 31, 2019, have been reconciled regarding net profit and equity as per Ind AS. The reconciliation structure shows the movement across all reporting periods:| Indicator | Quarter Ended 31/03/2019 | Period Ended 31/03/2019 | Year Ended 31/03/2019 | As at 31/03/2018 |
|---|---|---|---|---|
| Net Profit/(Loss) as per IGAAP | ||||
| Appreciation/(Diminution) in value of Investments | ||||
| Reclassification of Net Actuarial (Gain)/(Loss) on employee defined benefit obligation to other comprehensive income | ||||
| Net Profit/Equity as per Ind-AS | ||||
| Other Comprehensive Income | ||||
| Total Comprehensive Income/Equity as per Ind-AS |
Stock Price Movement
As of 15:15, Garlon Polyfab Industries Ltd is ticking up, trading at ₹3.31 after registering a substantial 19.93% jump. The shares have been completely locked in the intraday session, with the high and low both remaining at the current price point of ₹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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