JAT : Quarterly Financial Report 3rd Quarter ending 31st December 2021

JAT HOLDINGS PLC

INTERIM CONDENSED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31ST DECEMBER 2021

(UNAUDITED)

Expanding our footprint across South Asia

JAT HOLDINGS PLC

STATEMENT OF FINANCIAL POSITION

As at	31.12.2021	31.03.2021	31.12.2021	31.03.2021
(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Rs.	Rs.	Rs.	Rs.
ASSETS
Non-current assets
Property, plant and equipment	1,666,382,685	1,530,699,457	1,663,686,801	1,528,228,246
Intangible assets	18,458,649	22,480,109	10,562,871	14,504,680
Right-of-use assets	15,128,480	25,520,797	15,128,480	25,520,797
Investment property	142,421,669	142,421,669	142,421,669	142,421,669
Investments in subsidiaries	-	-	333,818,740	333,818,740
Other Investments	-	2,500,000	-	2,500,000
Consumable biological assets	58,120,344	58,120,344	58,120,344	58,120,344
	1,900,511,827	1,781,742,376	2,223,738,905	2,105,114,476
Current assets
Inventories	2,327,407,673	1,562,903,810	2,204,590,310	1,461,999,666
Income tax recoverable	-	11,437,292	4,462,880	18,788,089
Trade and other receivables	3,180,384,041	2,836,316,766	2,329,896,111	2,315,246,921
Advances and prepayments	92,505,280	85,983,114	60,816,959	75,934,260
Amounts due from related parties	64,322,761	70,818,034	237,562,804	246,056,188
Short term financial assets	374,500,085	214,306,589	306,432,565	214,306,589
Cash and cash equivalents	1,319,732,317	494,283,570	1,216,013,443	216,355,313
	7,358,852,157	5,276,049,175	6,359,775,072	4,548,687,026
Total assets	9,259,363,984	7,057,791,551	8,583,513,977	6,653,801,502
EQUITY AND LIABILITIES
Capital and reserves
Stated capital	2,395,221,320	918,770,013	2,395,221,320	918,770,013
Retained earnings	4,894,545,944	4,451,031,491	4,688,655,497	4,372,129,973
Foreign currency translation reserve	(1,386,835)	(24,866,701)	-	-
Equity attributable to equity holders of the parent	7,288,380,429	5,344,934,803	7,083,876,817	5,290,899,986
Non-controlling interest	(7,213,327)	(4,369,381)	-	-
Total equity	7,281,167,102	5,340,565,422	7,083,876,817	5,290,899,986
Non-current liabilities
Interest bearing loans and borrowings	16,935,623	29,439,735	707,973	10,292,086
Deferred tax liability	13,888,889	-	13,888,889	-
Retirement benefit obligation	61,353,758	57,308,540	60,180,930	56,079,631
	92,178,270	86,748,275	74,777,792	66,371,717
Current liabilities
Trade and other payables	990,712,896	1,127,339,229	601,120,441	820,994,171
Amounts due to related parties	21,851,785	91,617	-	-
Interest bearing loans and borrowings	753,173,610	499,155,018	725,206,131	473,862,042
Income tax payable	10,941,785	-	-	-
Bank overdrafts	109,338,536	3,891,990	98,532,796	1,673,586
	1,886,018,612	1,630,477,854	1,424,859,368	1,296,529,799
Total equity and liabilities	9,259,363,984	7,057,791,551	8,583,513,977	6,653,801,502
Net asset value per share (Rs.)	14.28	11.76	13.88	11.64
These financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007.	0

[SIGNED] Rizna Dilshard Finance Director

The Board of Directors is responsible for these Financial Statements. Signed for and on behalf of the Board by:

[SIGNED]	[SIGNED]
Dr. Sivakumar Selliah	Aelian Gunawardene
Chairman	Managing Director

The Accounting Policies and Notes on pages 07 to 10 form an integral part of these financial statements.

25th January 2022
Colombo	-1-

JAT HOLDINGS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - GROUP

	Quarter ended 31 December		Nine months ended 31 December
	2021	2020		Change	2021	2020	Change
	Rs.	Rs.	%	Rs.	Rs.	%
Revenue from contracts with customers	2,302,721,945	1,355,918,910		70%	5,431,761,000	3,164,593,856	72%
Cost of sales	(1,625,680,621)	(852,822,573)		91%	(3,840,263,867)	(2,110,684,399)	82%
Gross profit	677,041,324	503,096,337		35%	1,591,497,133	1,053,909,457	51%
Other income	26,117,024	2,215,899		1079%	75,377,666	2,645,145	2750%
Selling and distribution expenses	(228,742,155)	(166,549,668)		37%	(537,910,465)	(509,772,293)	6%
Administrative expenses	(134,833,909)	(99,969,630)		35%	(347,502,947)	(271,104,095)	28%
Results from operating activities	339,582,284	238,792,938		42%	781,461,387	275,678,214	183%
Finance cost	(20,359,650)	(4,406,960)		362%	(57,538,123)	(65,600,943)	-12%
Finance income	19,539,616	6,234,333		213%	38,127,770	14,187,218	169%
Profit before tax	338,762,250	240,620,311		41%	762,051,034	224,264,489	240%
Income tax expense	(21,569,811)	(3,625,808)		495%	(44,807,032)	(8,420,098)	432%
Profit for the period	317,192,439	236,994,503		34%	717,244,002	215,844,391	232%
Profit for the period attributable to:
Equity holders of the parent company	319,045,643	237,657,092		34%	720,493,209	215,476,257	234%
Non-controlling interests	(1,853,204)	(662,589)		180%	(3,249,207)	368,134	-983%
	317,192,439	236,994,503			717,244,002	215,844,391
Other Comprehensive Income
Other comprehensive income to be reclassified to profit or
loss in subsequent periods
Currency translation of foreign operations	4,754,429	(4,536,985)			23,885,127	(3,215,212)
Other comprehensive income for the period, net of tax	4,754,429	(4,536,985)			23,885,127	(3,215,212)
Total comprehensive income for the period, net of tax	321,946,868	232,457,518			741,129,129	212,629,179
Total comprehensive Income attributable to:
Equity holders of the parent	323,679,068	233,131,714		39%	743,973,075	212,281,826	250%
Non-controlling interest	(1,732,200)	(674,196)		157%	(2,843,946)	347,353	-919%
	321,946,868	232,457,518			741,129,129	212,629,179
Basic earnings/(loss) per share (Rs.)	0.63	0.53		19%	1.48	0.47	214%

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JAT HOLDINGS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY

	Quarter ended 31 December	Nine months ended 31 December
	2021	2020	Change	2021	2020	Change
	Rs.	Rs.	%	Rs.	Rs.	%
Revenue from contracts with customers	1,845,005,814	1,134,078,257	63%	4,183,446,323	2,739,632,674	53%
Cost of sales	(1,247,918,915)	(704,771,309)	77%	(2,875,357,966)	(1,794,624,725)	60%
Gross Profit	597,086,899	429,306,948	39%	1,308,088,357	945,007,949	38%
Other Income	37,547,241	40,354,992	-7%	108,522,850	107,879,475	1%
Selling and distribution expenses	(218,240,601)	(158,631,531)	38%	(505,405,625)	(487,517,336)	4%
Administrative expenses	(100,295,243)	(83,779,388)	20%	(279,316,470)	(236,986,330)	18%
Results from operating activities	316,098,296	227,251,021	39%	631,889,112	328,383,758	92%
Finance cost	(13,999,034)	(21,790,515)	-36%	(46,453,322)	(70,758,214)	-34%
Finance income	21,832,739	5,162,433	323%	36,282,588	13,005,321	179%
Profit before tax	323,932,001	210,622,939	54%	621,718,378	270,630,865	130%
Income tax expense	(15,927,685)	(1,713,196)	830%	(28,214,098)	(4,597,766)	514%
Profit for the period	308,004,316	208,909,743	47%	593,504,280	266,033,099	123%
Other comprehensive income
Other Comprehensive Income not to be reclassified to
profit or loss in subsequent periods
Actuarial gains/(losses) on defined benefit plans	-	-			-
	-
Other comprehensive income for the period, net of tax	-	-		-	-
Total comprehensive income for the period, net of tax	308,004,316	208,909,743		593,504,280	266,033,099
Basic earnings per share (Rs.)	0.60	0.46	30%	1.22	0.58	110%

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JAT HOLDINGS PLC

STATEMENT OF CHANGES IN EQUITY - GROUP

				Total	controlling	Total equity
	capital	earnings	translation
		interest
			reserve
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Balance as at 1 April 2020	918,770,013	4,073,144,201	(23,849,583)	4,968,064,631	(6,089,990)	4,961,974,641
Profit/(loss) for the period	-	215,476,257	-	215,476,257	368,134	215,844,391
Other comprehensive income, net of tax	-	-	(3,194,432)	(3,194,432)	(20,780)	(3,215,212)
Total comprehensive income
-	215,476,257	(3,194,432)	212,281,825	347,354	212,629,179
Ordinary shares buy back	-	(57,121,880)	-	(57,121,880)	-	(57,121,880)
Dividends to equity holders	-	(163,197,913)	-	(163,197,913)	-	(163,197,913)
Balance as at 31 December 2020	918,770,013	4,068,300,665	(27,044,015)	4,960,026,663	(5,742,636)	4,954,284,027

	Attributable to equity holders of the parent	Total	Non-	Total equity
	Stated	Retained	translation	controlling
	capital	earnings		interest
	reserve
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Balance as at 01 April 2021	918,770,013	4,451,031,491	(24,866,701)	5,344,934,803	(4,369,381)	5,340,565,422
Profit for the period	-	720,493,209	-	720,493,209	(3,249,207)	717,244,002
Other comprehensive income, net of tax	-	-	23,479,866	23,479,866	405,261	23,885,127
Total comprehensive income
-	720,493,209	23,479,866	743,973,075	(2,843,946)	741,129,129
Issue of shares	1,476,451,307	-	-	1,476,451,307	-	1,476,451,307
Dividends to equity holders	-	(276,978,756)	-	(276,978,756)	-	(276,978,756)
Balance as at 31 December 2021	2,395,221,320	4,894,545,944	(1,386,835)	7,288,380,429	(7,213,327)	7,281,167,102

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