Interim Financial Statements
For the 3 months ended 30th June 2022
(Unaudited)
ACL PLASTICS PLC (PQ 87)
ACL PLASTICS PLC | ||||||
INCOME STATEMENT | ||||||
Unaudited | ||||||
Group | Company | |||||
for the quarter ended | 30.06.2022 | 30.06.2021 | Change | 30.06.2022 | 30.06.2021 | Change |
Rs'000 | Rs'000 | % | Rs'000 | Rs'000 | % | |
Revenue | 772,840 | 675,682 | 14.4% | 772,840 | 675,682 | 14.4% |
Cost of sales | (531,284) | (589,758) | -9.9% | (531,284) | (589,758) | -9.9% |
Gross profit | 241,555 | 85,924 | 181.1% | 241,555 | 85,924 | 181.1% |
Other income | - | 54 | - | 54 | ||
241,555 | 85,977 | 181.0% | 241,555 | 85,977 | 181.0% | |
Administrative expenses | (3,440) | (1,296) | 165.5% | (3,231) | (1,296) | 149.4% |
Operating profit | 238,115 | 84,682 | 181.2% | 238,325 | 84,682 | 181.4% |
Net finance income/ (expenses) | 124,319 | (9,910) | -1354.4% | 121,121 | (10,297) | -1276.3% |
Profit before tax | 362,434 | 74,772 | 384.7% | 359,446 | 74,385 | 383.2% |
Income tax | (67,200) | (13,390) | 401.9% | (67,200) | (13,390) | 401.9% |
Net profit for the period | 381.0% | 379.1% | ||||
295,234 | 61,382 | 292,246 | 60,995 | |||
Earnings per share (Rs) | 70.09 | 14.57 | 69.38 | 14.48 |
STATEMENT OF COMPREHENSIVE INCOME
for the quarter ended
Profit for the period
Other comprehensive income/(expenses)
Net change in fair value of available for sale financial assets
Other comprehensive income for the period,
net of tax
Total comprehensive income for the period
Group | Company | ||||
30.06.2022 | 30.06.2021 | Change | 30.06.2022 | 30.06.2021 | Change |
Rs'000 | Rs'000 | % | Rs'000 | Rs'000 | % |
295,234 | 61,382 | 381.0% | 292,246 | 60,995 | 379.1% |
(11,772) | 1,497 | -886.5% | (11,772) | 1,497 | -886.5% |
(11,772) | 1,497 | -886.5% | (11,772) | 1,497 | -886.5% |
283,462 | 62,878 | 350.8% | 280,474 | 62,491 | 348.8% |
Above figures are provisional and subject to audit.
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.
ACL PLASTICS PLC | ||||
STATEMENT OF FINANCIAL POSITION | ||||
Unaudited | ||||
Group | Company | |||
As at | 30.06.2022 | 31.03.2022 | 30.06.2022 | 31.03.2022 |
Rs'000 | Rs'000 | Rs'000 | Rs'000 | |
ASSETS | ||||
Non current assets | ||||
Property, plant & equipment | 342,988 | 347,903 | 342,988 | 347,903 |
Right-of-use assets | 1,571 | 1,576 | 1,571 | 1,576 |
Investment in subsidiary company | - | - | 10,000 | 10,000 |
Financial assets at FV through OCI | 37,324 | 49,096 | 37,324 | 49,096 |
381,883 | 398,575 | 391,883 | 408,575 | |
Current assets | ||||
Inventories | 829,103 | 454,125 | 829,103 | 454,125 |
Trade & other receivables | 836,499 | 1,326,154 | 794,499 | 1,279,554 |
Cash & cash equivalents | 983,313 | 867,100 | 982,866 | 866,649 |
2,648,915 | 2,647,378 | 2,606,468 | 2,600,328 | |
Total assets | 3,030,798 | 3,045,953 | 2,998,351 | 3,008,903 |
EQUITY | ||||
Stated capital | 79,975 | 79,975 | 79,975 | 79,975 |
Revaluation reserve | 185,885 | 185,884 | 185,885 | 185,884 |
Revenue reserve | 170,000 | 170,000 | 170,000 | 170,000 |
Financial assets at FVOCI reserve | 24,026 | 35,798 | 24,026 | 35,798 |
Retained earnings | 2,093,852 | 1,798,618 | 2,021,141 | 1,728,895 |
Shareholders' fund | 2,553,738 | 2,270,275 | 2,481,026 | 2,200,552 |
LIABILITIES | ||||
Non current liabilities | ||||
Defined benefit obligations | 7,896 | 7,536 | 7,896 | 7,536 |
Deferred tax liabilities | 51,511 | 51,511 | 51,511 | 51,511 |
59,407 | 59,047 | 59,407 | 59,047 | |
Current liabilities | ||||
Trade & other payables | 253,719 | 429,918 | 322,682 | 491,289 |
Short term borrowings | - | 177,268 | - | 177,268 |
Income tax payable | 163,935 | 109,446 | 135,236 | 80,747 |
417,654 | 716,631 | 457,918 | 749,304 | |
Total liabilities | 477,061 | 775,678 | 517,325 | 808,351 |
Total equity and liabilities | 3,030,798 | 3,045,953 | 2,998,351 | 3,008,903 |
Net asset value per share (Rs) | 606.23 | 538.94 | 588.97 | 522.39 |
Above figures are provisional and subject to audit.
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.
Colombo
15th August 2022
ACL PLASTICS PLC | ||||
STATEMENT OF CASH FLOWS | ||||
Unaudited | ||||
Group | Company | |||
for the quarter ended | 30.06.2022 | 30.06.2021 | 30.06.2022 | 30.06.2021 |
Rs'000 | Rs'000 | Rs'000 | Rs'000 | |
Cash flows from operating activities: | ||||
Operating profit before taxation | 362,434 | 74,772 | 359,446 | 74,385 |
Adjustments for: | ||||
Depreciation | 4,915 | 3,607 | 4,915 | 3,607 |
Interest expense | 4,671 | 5,812 | 4,671 | 5,812 |
Interest income | (11,454) | (202) | (8,257) | - |
Dividend Income | - | (54) | - | (54) |
Gratuity provision | 360 | 360 | 360 | 360 |
Operating profit before changes in working capital | ||||
360,925 | 84,295 | 361,135 | 84,110 | |
(Increase) / Decrease in: | ||||
Inventories | (374,978) | (132,186) | (374,978) | (132,187) |
Trade & other receivables | 489,665 | (351,047) | 485,065 | (351,341) |
Increase / (Decrease) in: | ||||
Trade & other payables | (176,199) | (160,272) | (168,607) | (159,591) |
Amount due to related companies | - | - | ||
Cash generated from / (used in) operations | 299,413 | (559,211) | 302,615 | (559,009) |
Tax (paid) / refund | (12,711) | (8,059) | (12,711) | (8,059) |
Interest paid | (4,671) | (5,812) | (4,671) | (5,812) |
Net cash generated from / (used in) operating activities | 282,032 | (573,083) | 285,233 | (572,880) |
Cash flows from investing activities | ||||
Dividend received | - | 54 | - | 54 |
Interest received | 11,454 | 202 | 8,257 | - |
Net cash generated from / (used in) investing activities | 11,454 | 256 | 8,257 | 54 |
Cash flows from financing activities | ||||
Proceeds/(repayments) of import loans | (177,268) | 458,923 | (177,268) | 458,923 |
Lease Rental Paid | (6) | (6) | (6) | (6) |
Net cash generated from / (used in) financing activities | (177,273) | 458,918 | (177,273) | 458,918 |
Net increase / (decrease) in cash & cash equivalents | 116,213 | (113,909) | 116,216 | (113,909) |
Cash & cash equivalents at the beginning of the period | 867,100 | 402,120 | 866,649 | 401,657 |
Cash & cash equivalents at the end of the period | 983,313 | 288,211 | 982,866 | 287,748 |
The period end cash and cash equivalents comprise, | ||||
Cash at bank and in hand | 983,313 | 288,211 | 982,866 | 287,748 |
983,313 | 288,211 | 982,866 | 287,748 |
Above figures are provisional and subject to audit.
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.
ACL PLASTICS PLC
STATEMENT OF CHANGES IN EQUITY
(a) Group
Balance at 01st April 2022 Net profit for the period
Net change in Financial assets at FVOCI Total comprehensive income for the period
Balance at 30th June 2022
(b) Company
Balance at 01st April 2022 Net profit for the period
Net change in Financial assets at FVOCI Total comprehensive income for the period
Balance at 30th June 2022
(a) Group
Balance at 01st April 2021 Net profit for the period
Actuarial gain / (loss) on defined benefit obligation Deferred tax on actuarial gain / (loss)
Net change in Financial assets at FVOCI Total comprehensive income for the period
Transfer from revaluation reserve
Deferred tax on transfer
Dividend Paid
Balance at 31st March 2022
(b) Company
Unaudited | |||||
Stated | Revaluation | Revenue | Other | Retained | Total |
Capital | Reserve | Reserve | Reserve | earnings | |
Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 |
79,975 | 185,885 | 170,000 | 35,798 | 1,798,618 | 2,270,275 |
- | - | - | - | 295,234 | 295,234 |
- | - | - | (11,772) | - | (11,772) |
- | - | - | (11,772) | 295,234 | 283,462 |
79,975 | 185,885 | 170,000 | 24,026 | 2,093,852 | 2,553,738 |
Stated | Revaluation | Revenue | Other | Retained | Total |
Capital | Reserve | Reserve | Reserve | earnings | |
Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 |
79,975 | 185,885 | 170,000 | 35,798 | 1,728,895 | 2,200,552 |
- | - | - | - | 292,246 | 292,246 |
- | - | - | (11,772) | - | (11,772) |
- | - | - | (11,772) | 292,246 | 280,474 |
79,975 | 185,885 | 170,000 | 24,026 | 2,021,141 | 2,481,026 |
Stated | Revaluation | Revenue | Other | Retained | Total |
Capital | Reserve | Reserve | Reserve | earnings | |
Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 |
79,975 | 190,989 | 170,000 | 30,086 | 1,106,946 | 1,577,996 |
- | - | - | - | 721,026 | 721,026 |
- | - | - | - | 9,350 | 9,350 |
- | - | - | - | (1,683) | (1,683) |
- | - | - | 5,712 | - | 5,712 |
- | - | - | 5,712 | 728,693 | 734,405 |
- | (6,225) | - | - | 6,225 | - |
- | 1,121 | - | - | (1,121) | - |
- | - | - | - | (42,125) | (42,125) |
79,975 | 185,885 | 170,000 | 35,798 | 1,798,618 | 2,270,275 |
Stated | Revaluation | Revenue | Other | Retained | Total |
Capital | Reserve | Reserve | Reserve | earnings | |
Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 | Rs'000 |
Balance at 01st April 2021 Net profit for the period
Actuarial gain / (loss) on defined benefit obligation Deferred tax on actuarial gain / (loss)
Net change in Financial assets at FVOCI Total comprehensive income for the period
Transfer from revaluation reserve Deferred tax on transfer Dividend Paid
Balance at 31st March 2022
79,975 | 190,989 | 170,000 | 30,086 | 1,041,810 | 1,512,860 |
- | - | - | 716,439 | 716,439 | |
- | - | - | - | 9,350 | 9,350 |
- | - | - | - | (1,683) | (1,683) |
- | - | - | 5,712 | - | 5,712 |
- | - | - | 5,712 | 724,105 | 729,818 |
- | (6,225) | - | - | 6,225 | - |
- | 1,121 | - | - | (1,121) | - |
- | - | - | - | (42,125) | (42,125) |
79,975 | 185,885 | 170,000 | 35,798 | 1,728,895 | 2,200,552 |
Above figures are provisional and subject to audit.
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.
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ACL Plastics plc published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 09:32:01 UTC.