Lanka Ceramic : Interim Financial Statements 30.06.2022

LANKA CERAMIC PLC

Provisional Financial Statements

For the period ended 30th June 2022

LANKA CERAMIC PLC

Statement of Financial Position

As at

ASSETS

Non-current assets

Property, plant & equipment

Investment property

Other equity investments

Investment in subsidiary

Total non-current assets

Current assets

Inventories

Trade and other receivables

Cash and cash equivalents

Total current assets

Total assets

EQUITY AND LIABILITIES

Stated capital

Reserves

Retained earnings

Total equity

Non-current liabilities

Interest bearing loans and borrowings Deferred tax liabilities

Retirement benefit liability Other non-current liabilities Total non-current liabilities

Current liabilities

Trade and other payables

Interest bearing loans and borrowings Total current liabilities

Total equity and liabilities

Net Assets Value Per Share ( Rs.)

Company	Group
30.06.2022	31.03.2022	30.06.2022	31.03.2022
(Unaudited)	(Audited)	(Unaudited)	(Audited)
Rs.	Rs.	Rs.	Rs.
214,577,928	160,143,046	214,577,928	160,143,046
995,688,200	995,688,200	995,688,200	995,688,200
-	-	56,666,760	56,666,760
56,666,760	56,666,760	-	-
1,266,932,888	1,212,498,006	1,266,932,888	1,212,498,006
18,520,430	4,197,053	18,520,430	4,197,053
230,818,262	99,344,668	230,653,840	99,200,428
2,104,237	135,251,279	2,104,237	135,251,279
251,442,929	238,793,000	251,278,507	238,648,760
1,518,375,817	1,451,291,006	1,518,211,395	1,451,146,766
300,000,000	300,000,000	300,000,000	300,000,000
269,279,025	269,279,025	269,279,025	269,279,025
474,332,636	480,948,481	474,168,214	480,804,241
1,043,611,661	1,050,227,506	1,043,447,239	1,050,083,266
26,712,000	33,480,000	26,712,000	33,480,000
218,111,717	214,991,666	218,111,717	214,991,666
6,106,421	5,731,507	6,106,421	5,731,507
15,000,000	15,000,000	15,000,000	15,000,000
265,930,138	269,203,173	265,930,138	269,203,173
108,853,018	104,261,727	108,853,018	104,261,727
99,981,000	27,598,600	99,981,000	27,598,600
208,834,018	131,860,327	208,834,018	131,860,327
1,518,375,817	1,451,291,006	1,518,211,395	1,451,146,766
173.94	175.04	173.91	175.01

These Financial Statements are in compliance with the requirements of the Companies Act No 7 of 2007.

Sgd

Group Finance Controller

The Board of Directors is responsible for the preparation and presentation of these financial statements.

Signed for and on behalf of the Board by,

Sgd	Sgd
Director	Director
August 9, 2022

Lanka Ceramic PLC

Statement of Profit or Loss and Other Comprehensive Income

		Company			Group
		Quarter			Quarter
For the period ended	30.06.2022	30.06.2021	Variance	30.06.2022	30.06.2021	Variance
	Rs.	Rs.	%	Rs.	Rs.	%
Revenue	133,594,450	55,848,180	139	133,594,450	55,848,180	139
Cost of sales	(101,747,847)	(31,371,848)	224	(101,747,847)	(31,371,848)	224
Gross profit	31,846,603	24,476,332	30	31,846,603	24,476,332	30
Other income	12,353,260	12,151,158	2	12,353,260	12,151,158	2
Distribution cost	(2,819,551)	(2,527,794)	12	(2,819,551)	(2,527,794)	12
Administrative expenses	(16,844,748)	(15,553,102)	8	(16,864,930)	(15,553,102)	8
Finance cost	(14,303,394)	(1,556,119)	819	(14,303,394)	(1,556,119)	819
Finance income	1,872,037	36,604	5,014	1,872,037	36,604	5,014
Profit before tax	12,104,207	17,027,079	(29)	12,084,025	17,027,079	(29)
Income tax expense	(3,120,052)	(4,445,130)	(30)	(3,120,052)	(4,445,130)	(30)
Profit for the period	8,984,155	12,581,949	(29)	8,963,973	12,581,949	(29)
Other comprehensive income	-	-	-	-	-	-
Total comprehensive income for the period	8,984,155	12,581,949	(29)	8,963,973	12,581,949	(29)
Earnings Per Share - Basic (Rs.)	1.50	2.10		1.49	2.10

Lanka Ceramic PLC

Statement of Changes in Equity

		Company
	Stated	Revaluation	Retained	Total
	capital	reserve	earnings
	Rs.	Rs.	Rs.	Rs.
Balance as at 01st April 2021	300,000,000	285,087,460	385,001,515	970,088,975
Profit for the period	-	-	12,581,949	12,581,949
Other comprehensive income	-	-	-	-
Total comprehensive income	-	-	12,581,949	12,581,949
Dividend payment	-	-	(5,400,000)	(5,400,000)
Balance as at 30th June 2021	300,000,000	285,087,460	392,183,464	977,270,924
Balance as at 01st April 2022	300,000,000	269,279,025	480,948,481	1,050,227,506
Profit for the period	-	-	8,984,155	8,984,155
Dividend Payment			(15,600,000)	(15,600,000)
Other comprehensive income	-	-	-	-
Total comprehensive income	-	-	(6,615,845)	(6,615,845)
Balance as at 30th June 2022	300,000,000	269,279,025	474,332,636	1,043,611,661

Statement of Changes in Equity

		Group
	Stated	Revaluation	Retained	Total
	capital	reserve	earnings
	Rs.	Rs.	Rs.	Rs.
Balance as at 01st April 2021	300,000,000	285,087,460	385,001,515	970,088,975
Profit for the period	-	-	12,581,950	12,581,950
Other comprehensive income	-	-	-	-
Total comprehensive income	-	-	12,581,950	12,581,950
Dividend payment	-	-	(5,400,000)	(5,400,000)
Balance as at 30th June 2021	300,000,000	285,087,460	392,183,465	977,270,925
Balance as at 01st April 2022	300,000,000	269,279,025	480,804,241	1,050,083,266
Profit for the period	-	-	8,963,973	8,963,973
Dividend payment			(15,600,000)	(15,600,000)
Other comprehensive income	-	-	-	-
Total comprehensive income	-	-	(6,636,027)	(6,636,027)
Balance as at 30th June 2022	300,000,000	269,279,025	474,168,214	1,043,447,239

Lanka Ceramic PLC

Cash Flow Statement

	Company	Group
For the period ended	30.06.2022	30.06.2021	30.06.2022	30.06.2021
	Rs.	Rs.	Rs.	Rs.
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(loss) before income tax	12,104,207	17,027,079	12,084,025	17,027,079
Adjustments for;
Depreciation & amortization	3,407,464	3,266,420	3,407,464	3,266,420
Finance costs	3,357,827	1,504,545	3,357,827	1,504,545
(Gain)/loss on sale of property, plant & equipment	-	(150,000)	-	(150,000)
Interest Income	(1,872,037)	(36,604)	(1,872,037)	(36,604)
Provision for retirement benefit obligations	374,914	302,120	374,914	302,120
Operating profit before working capital changes	17,372,375	21,913,560	17,352,194	21,913,560
(Increase)/ decrease in inventories	(14,323,377)	(1,532,052)	(14,323,377)	(1,532,052)
(Increase)/ decrease in trade and other receivables	(131,475,340)	(17,520,943)	(131,455,159)	(17,520,943)
Increase/ (decrease) in trade and other payables	(11,007,457)	13,164,048	(11,007,457)	13,164,048
Cash generated from operations	(139,433,800)	16,024,613	(139,433,800)	16,024,613
Finance costs paid	(3,357,827)	(1,504,545)	(3,357,827)	(1,504,545)
Retirement benefit costs paid	-	(900,433)	-	(900,433)
Net cash from/ (used in) operating activities	(142,791,626)	13,619,635	(142,791,627)	13,619,635
CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITIES
Acquisition of property, plant & equipment	(57,841,680)	(167,000)	(57,841,680)	(167,000)
Proceeds from sale of property,plant & equipment	-	150,000	-	150,000
Interest Income	1,872,037	36,604	1,872,037	36,604
Net cash flows from / (used in) investing activities	(55,969,643)	19,604	(55,969,643)	19,604
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of interest bearing borrowings	(7,824,000)	(7,824,000)	(7,824,000)	(7,824,000)
Net cash flows from financing activities	(7,824,000)	(7,824,000)	(7,824,000)	(7,824,000)
Net increase / (decrease) in cash and cash equivalents	(206,585,269)	5,815,242	(206,585,269)	5,815,242
MOVEMENT IN CASH & CASH EQUIVALENTS
Cash and cash equivalents at the beginning of the period	135,251,279	3,177,563	135,251,279	3,177,563
Cash and cash equivalents at the end of the period	(71,333,990)	8,992,805	(71,333,990)	8,992,805