Garlon Polyfab Industries Reports Quarterly Loss and Financial Snapshot as of March 31, 2017
Garlon Polyfab Industries Ltd has released its financial results and standalone statement of assets and liabilities for the quarter ended March 31, 2017. The company reported a significant loss for the period, which reflects high expenses coupled with exceptional items.Quarterly Financial Performance Highlights
The earnings figures for the period reveal substantial losses. Total Expenses for the quarter stood at 4,46,851. This was driven by costs such as Changes in inventories of finished goods, work-in-progress and stock-in-trade, which amounted to 3,41,130. Other expenses recorded were 63,215, while Employees benefit expenses totaled 42,507.The company reported a Profit (loss) before exceptional and extraordinary items of (4,46,851). Following the recording of Exceptional Items amounting to (34,52,147), the Profit/(loss) before tax stood at (3',8,98,998). The final result for the period recorded a loss of 38,98,998. Earnings Per Share (EPS) Basic was recorded as (0.85) per share.
Statement of Assets and Liabilities
The company's financial position as of March 31, 2017, is detailed below, showing the movement in key components compared to March 31, 2016.| Financial Metric | As on March 31, 2017 (In Rupees) | As on March 31, 2016 (In Rupees) |
|---|---|---|
| Share Capital | 4,61,32,000 | 4,61,32,000 |
| Reserves and Surplus | (6,29,98,779) | (5,87,82,618) |
| Total Equity & Liabilities | 7,64,428 | 59,58,105 |
| Short-term Borrowings | 1,72,12,000.00 | 1,68,42,000 |
| Other Current Liabilities | 60,449.69 | 14,00,000 |
| Total Assets | 7,64,428 | 59,58,105 |
The company maintained Long-term loans and advances of 5,75,698.00 as of March 31, 2017, compared to 18,63,264 in the previous year. Current assets include Trade receivables at 3,41,130, while Cash and Short-term loans and advances totaled 1,88,729.69 on March 31, 2017.
Stock Price Movement
As of 15:15, Garlon Polyfab Industries Ltd. shares are edging higher at ₹3.31, following a substantial +19.93% climb. The stock remains completely locked as the intraday range stands flatly 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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