Agalawatte Plantations : INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2022

Company Reg No PQ 214

Agalawatte Plantations PLC

Interim

Financial

Statements

For the Quarter Ended 30th September 2022

AGALAWATTE PLANTATIONS PLC

Company Reg No PQ 214

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME-COMPANY AND EQUITY ACCOUNTED INVESTEE

	Company and Equity Accounted Investee	Company and Equity Accounted Investee
	Quarter ended 30th September	Nine months ended 30th September
	2022	2021	Change	2022	2021	Change
	Unaudited		Unaudited		Unaudited		Unaudited
			Restated				Restated
	Rs. 000		Rs. 000	%	Rs. 000		Rs. 000	%
Revenue	1,532,618	1,055,903	45.15	3,848,246	2,897,370	32.82
Cost of sales	(943,026)		(724,625)	30.14	(2,522,019)		(2,244,935)	12.34
Gross Profit/ (Loss)	589,592		331,278	77.98	1,326,227	652,435	103.27
Other Income	84,935	30,738	176.33	178,551	113,725	57.00
Selling and distribution expenses	-	-		-	(37)	(100.00)
Administration expenses	(28,450)	(12,370)	129.99	(62,405)	(40,265)	54.99
Other Expesnes	(112)		(381)	(240.73)	(559)		(2,533)	(77.94)
Results from Operating Activities	645,965	349,265	84.95	1,441,814	723,325	99.33
Finance income	15	-		57	-
Finance costs	(31,249)		(14,919)	109.46	(65,492)		(45,724)	43.23
Net finance costs	(31,235)		(14,919)	109.36	(65,436)		(45,724)	43.11
Share of profit/(loss) in jointly controlled entity	94,584		76,936	22.94	166,055		144,781	14.69
Profit/(Loss) Before Taxation	709,315	411,282	72.46	1,542,434	822,382	87.56
Income tax (expense)/reversal	-		-	-	-		-	-
Profit/(Loss) for the Period	709,315	411,282	72.46	1,542,434	822,382	87.56
Other comprehensive income
Actuarial gain/(loss) on retirement benefit obligation	-	-	-	-	-	-
Equity Investment measured at FVOCI - net change in fair Value	-	-		-	-	-
Tax on other comprehensive income	-	-	-	-	-	-
Other comprehensive income for the period, net of taxes	-		-	-	-		-	-
							87.56
Total comprehensive income/(expense) for the period	709,315		411,282	72.46	1,542,434		822,382
Profit/(Loss) attributable to:
Equity holders of the company	709,315	411,282	72.46	1,542,434	822,382	87.56
Non controlling interests	-		-	-	-		-	-
Profit/(Loss) for the period	709,315	411,282	72.46	1,542,434	822,382	87.56
Total comprehensive income/(expense) attributable to:
Equity holders of the company	709,315	411,282	72.46	1,542,434	822,382	87.56
Non controlling interests	-	-	-	-	-	-
Total comprehensive income/(expense) for the period	709,315		411,282	72.46	1,542,434		822,382	87.56
Basic profit/(loss) per share (Rs.)	4.54	2.63	72.46	9.87	5.26	87.67
Figures in brackets indicate deductions

1

AGALAWATTE PLANTATIONS PLC

Company Reg No PQ 214

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME-COMPANY

	Company				Company
Quarter ended 30th September		Nine months ended 30th September
2022	2021	Change		2022	2021	Change
Unaudited	Unaudited			Unaudited	Unaudited
	Restated				Restated
Rs. 000	Rs. 000	%		Rs. 000	Rs. 000	%

Revenue	1,532,618
Cost of sales	(943,026)
Gross Profit/ (Loss)	589,592
Other Income	135,265
Selling and distribution expenses	-
Administration expenses	(28,450)
Other Expenses	(112)
Results from Operating Activities	696,295
Finance income
15
Finance costs	(31,249)
Net finance costs	(31,234)
Profit/(Loss) Before Taxation	665,062
Income tax (expense)/reversal	-
Profit/(Loss) for the Period
665,062
Other comprehensive income
Actuarial gain/(loss) on retirement benefit obligation	-
Equity Investment measured at FVOCI - net change in fair Value	-
Tax on other comprehensive income	-
Other comprehensive income for the period, net of taxes
-
Total comprehensive income/(expense) for the period
665,062
Profit/(Loss) attributable to:
Equity holders of the company	665,062
Non controlling interests	-
Profit/(Loss) for the period	665,062
Total comprehensive income/(expense) attributable to:
Equity holders of the company	665,062
Non controlling interests	-
Total comprehensive income/(expense) for the period	665,062
Basic profit/(loss) per share (Rs.)	4.26
Figures in brackets indicate deductions

1,055,903

(724,625)

331,278

81,068

-

(12,370)

(381)

399,595

-

(14,919)

(14,919)

-

384,676

-

384,676

-

-

-

-

384,676

384,676

-

384,676

384,676

-

384,676

2.46

45.15	3,848,246	2,897,370	32.82
30.14	(2,522,019)		(2,244,935)	12.34
77.98	1,326,227	652,435	103.27
66.86	279,211	188,521	48.11
	-	(37)	(100.00)
129.99	(62,405)	(40,265)	54.99
(240.73)	(559)	(2,533)	(77.94)
74.25	1,542,474	798,121	93.26

57-

109.46 (65,492) (45,724) 43.23

109.35	(65,436)		(45,724)	43.11
72.89	1,477,039	752,397	96.31
-	-		-	-
72.89	1,477,039	752,397	96.31
-				-
-	-
	-	-
-	-	-	-
-				-
-		-
72.89				96.31
1,477,039		752,397
72.89	1,477,039	752,397	96.31
-	-		-	-
72.89	1,477,039		752,397	96.31
72.89	1,477,039	752,397	96.31
-	-		-	-
72.89	1,477,039		752,397	96.31
72.89	9.45	4.82	96.12

2

AGALAWATTE PLANTATIONS PLC

Company Reg No PQ 214

STATEMENT OF FINANCIAL POSITION
	Company and Equity	Company
	Accounted Investee		Co & EAI		Company
	Unaudited		Unaudited	Unaudited	Unaudited		Audited		Audited
AS AT	30.09.2022	30.09.2021	30.09.2022	30.09.2021		31.12.2021	31.12.2021
			Restated		Restated
	Rs. 000		Rs. 000	Rs. 000	Rs. 000		Rs. 000		Rs. 000
ASSETS
Non-current assets
Right of Use Assets	453,067	433,893	453,067	433,893		429,326	429,326
Property, plant and equipment	683,016	750,420	683,016	750,420		728,190	728,190
Bearer biological assets	2,791,485	2,377,294	2,791,485	2,377,294		2,470,714	2,470,714
Consumable biological assets	682,024	724,580	682,024	724,580		680,679	680,679
Investment in jointly controlled entity	360,316		293,720	6,990	6,990		294,922		6,990
Total non current assets	4,969,908	4,579,907	4,616,582	4,293,178		4,603,831	4,315,899
Current assets
Produce on bearer biological assets	16,979	9,680	16,979	9,680		16,979	16,979
Inventories	638,723	287,459	638,723	287,459		388,549	388,549
Trade and other receivables	143,341	98,970	143,341	98,970		122,216	122,216
Amount due from related parties	63,156	40,484	63,156	40,484		28,548	28,548
Cash and cash equivalents	8,014		68,502	8,014	68,502		41,870		41,870
Total current assets	870,213		505,095	870,213	505,095		598,162		598,162
Total Assets	5,840,122	5,085,002	5,486,796	4,798,273		5,201,993	4,914,061
EQUITY AND LIABILITIES
Stated capital and reserves
Stated capital	2,258,125	2,258,125	2,258,125	2,258,125		2,258,125	2,258,125
Accumulated Profit/(Losses)	1,115,969		(875,557)	762,642	(1,162,286)		(426,465)		(714,397)
Equity attributable to owners of the Company	3,374,094	1,382,568	3,020,767	1,095,839		1,831,660	1,543,728
Non-current liabilities
Loans and borrowings	-	-	-	-		-	-
Lease Liability	502,090	469,547	502,090	469,547		468,575	468,575
Deferred tax liabilities	257,701	337,336	257,701	337,336		257,699	257,699
Retirement benefit obligations	519,814	631,747	519,814	631,747		524,567	524,567
Deferred income	188,364		125,214	188,364	125,214		144,739		144,739
Total non current liabilities	1,467,969	1,563,843	1,467,969	1,563,843		1,395,580	1,395,580
Current liabilities
Trade and other payables	482,650	426,290	482,650	426,290		468,873	468,873
Amounts due to related parties	251,989	1,692,173	251,989	1,692,173		774,961	774,961
Loans and borrowings	197,430	16,600	197,430	16,600		612,400	612,400
Lease Liability	4,432	3,527	4,432	3,527		3,750	3,750
Bank overdrafts	61,558		-	61,558	-		114,769		114,769
Total current liabilities	998,059		2,138,591	998,059	2,138,590		1,974,753		1,974,753
Total Liabilities	2,466,029		3,702,434	2,466,029	3,702,434		3,370,333		3,370,333
Total Equity and Liabilities	5,840,122		5,085,002	5,486,796	4,798,273		5,201,993	4,914,061
Net asset/(liability) value per share	21.59	8.85		7.01	11.72	9.88
19.33
Figures in brackets indicate deductions

3