LANKA TILES PLC
Provisional Financial Statements
For the Six months ended 30th September 2022
LANKA TILES PLC
PROVISIONAL FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022
STATEMENT OF FINANCIAL POSITION
As at
ASSETS
Non-current assets
Property, plant and equipment
Capital work-in-progress
Right of use assets
Intangible assets
Investment properties
Investment in subsidiary
Investment in associates
Current assets
Inventories
Receivables & prepayments
Amounts due from related companies
Cash & cash equivalents
Total assets
EQUITY AND LIABILITIES
Capital and reserves
Stated capital (Note 3)
Reserves
Shareholders' funds
Non controlling interest
Total Equity
Non-current liabilities
Lease liabilities
Interest bearing liabilities
Deferred tax liabilities
Retirement benefit obligations
Current liabilities
Lease liabilities
Trade & other payables
Contract liability
Amounts due to related companies
Current tax liabilities
Interest bearing liabilities
Bank overdrafts
Total liabilities
Total equity and liabilities
Net asset value per share (Rs.)
Group | Company | ||
30.09.2022 | 31.03.2022 | 30.09.2022 | 31.03.2022 |
Unaudited | Adjusted | Unaudited | Adjusted |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
5,942,190 | 6,147,169 | 5,942,190 | 6,147,169 |
459,139 | 324,010 | 459,139 | 324,010 |
42,382 | 65,378 | 42,382 | 65,378 |
8,460 | 8,970 | 8,460 | 8,970 |
483,091 | 483,091 | - | - |
- | - | 270,242 | 270,242 |
1,500,440 | 1,563,428 | 1,437,794 | 1,501,249 |
8,435,702 | 8,592,046 | 8,160,207 | 8,317,018 |
4,012,298 | 2,473,794 | 4,012,298 | 2,473,794 |
2,665,931 | 910,523 | 2,655,666 | 910,523 |
573,798 | 14,109 | 626,936 | 65,168 |
2,790,581 | 4,936,501 | 2,778,084 | 4,919,853 |
10,042,608 | 8,334,927 | 10,072,984 | 8,369,338 |
18,478,310 | 16,926,973 | 18,233,191 | 16,686,356 |
900,968 | 900,968 | 900,968 | 900,968 |
12,604,804 | 10,714,433 | 12,425,454 | 10,539,132 |
13,505,772 | 11,615,401 | 13,326,422 | 11,440,100 |
11,105 | 8,095 | - | - |
13,516,877 | 11,623,496 | 13,326,422 | 11,440,100 |
24,757 | 38,753 | 24,757 | 38,753 |
540,843 | 666,667 | 540,843 | 666,667 |
948,749 | 907,441 | 895,105 | 853,796 |
176,202 | 158,999 | 176,202 | 158,999 |
1,690,551 | 1,771,860 | 1,636,907 | 1,718,215 |
31,023 | 36,753 | 31,023 | 36,753 |
1,329,339 | 1,548,896 | 1,328,703 | 1,548,770 |
175,295 | 90,233 | 175,295 | 90,233 |
668,520 | 232,352 | 668,363 | 228,902 |
385,033 | 897,744 | 384,806 | 897,744 |
250,000 | 250,000 | 250,000 | 250,000 |
431,672 | 475,639 | 431,672 | 475,639 |
3,270,882 | 3,531,617 | 3,269,862 | 3,528,041 |
4,961,433 | 5,303,477 | 4,906,769 | 5,246,256 |
18,478,310 | 16,926,973 | 18,233,191 | 16,686,356 |
50.92 | 43.79 | 50.24 | 43.13 |
The notes to the financial statements on page 05 form an integral part of the financial statements.
The figures in brackets indicate deductions
It is certified that the interim financial statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007
Sgd.
General Manager (Finance)
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 |
01st November 2022 |
Page 1
LANKA TILES PLC
PROVISIONAL FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | |||||||||||
Group | Company | ||||||||||
30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | ||||||||
Period ended | Quarter | Six months | Quarter | Six months | Variance | Quarter | Six months | Quarter | Six months | Variance | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | % | ||
Export sales | 178,191 | 333,506 | 193,529 | 377,755 | (12) | 178,191 | 333,506 | 193,529 | 377,755 | (12) | |
Local sales | 5,277,908 | 9,635,263 | 3,718,040 | 6,421,448 | 50 | 5,277,908 | 9,635,263 | 3,718,040 | 6,421,448 | 50 | |
Gross sales (inclusive of tax) | 5,456,099 | 9,968,769 | 3,911,569 | 6,799,203 | 47 | 5,456,099 | 9,968,769 | 3,911,569 | 6,799,203 | 47 | |
Sales (net of tax) | 4,851,209 | 8,971,531 | 3,636,734 | 6,324,501 | 42 | 4,851,209 | 8,971,531 | 3,636,734 | 6,324,501 | 42 | |
Cost of sales | (2,687,025) | (4,720,709) | (1,987,705) | (3,510,309) | 34 | (2,687,025) | (4,720,709) | (1,987,705) | (3,510,309) | 34 | |
Gross profit | 2,164,184 | 4,250,822 | 1,649,029 | 2,814,192 | 51 | 2,164,184 | 4,250,822 | 1,649,029 | 2,814,192 | 51 | |
Other operating income | 7,741 | 15,245 | 4,633 | 10,021 | 52 | 7,157 | 14,072 | 4,117 | 9,034 | 56 | |
Distribution costs | (571,522) | (1,055,430) | (398,895) | (696,107) | 52 | (571,522) | (1,055,430) | (398,895) | (696,107) | 52 | |
Administrative expenses | (197,676) | (373,235) | (142,262) | (278,507) | 34 | (196,983) | (371,783) | (141,795) | (277,892) | 34 | |
Operating profit / (loss) | 1,402,727 | 2,837,402 | 1,112,506 | 1,849,599 | 53 | 1,402,836 | 2,837,681 | 1,112,456 | 1,849,227 | 53 | |
Net finance income / (cost) | 96,950 | 201,256 | 3,313 | 2,668 | 7443 | 96,950 | 201,256 | 3,313 | 2,668 | 7443 | |
Share of results of equity-accounted investees | 14,642 | (3,105) | 91,802 | 123,626 | (103) | 13,769 | (4,572) | 91,822 | 123,553 | (104) | |
Profit / (Loss) before taxation | 1,514,319 | 3,035,553 | 1,207,621 | 1,975,893 | 54 | 1,513,555 | 3,034,365 | 1,207,591 | 1,975,448 | 54 | |
Taxation | (278,416) | (644,065) | (232,025) | (383,253) | 68 | (278,416) | (644,065) | (219,425) | (370,654) | 74 | |
Profit / (Loss) after tax | 1,235,903 | 2,391,488 | 975,596 | 1,592,640 | 50 | 1,235,139 | 2,390,300 | 988,166 | 1,604,795 | 49 | |
Exchange gain / (loss) arising on translation of | |||||||||||
foreign operations | (476) | 5,871 | (104) | 368 | 1495 | - | - | - | - | - | |
Total comprehensive income for the year | |||||||||||
1,235,427 | 2,397,359 | 975,492 | 1,593,008 | 50 | 1,235,139 | 2,390,300 | 988,166 | 1,604,795 | 49 | ||
Profit attributable to: | |||||||||||
Equity holders of the parent | 1,235,794 | 2,391,355 | 975,515 | 1,592,475 | 50 | 1,235,139 | 2,390,300 | 988,166 | 1,604,795 | 49 | |
Non Controlling Interest | 109 | 133 | 81 | 165 | (19) | - | - | - | - | ||
Profit for the year | 1,235,903 | 2,391,488 | 975,596 | 1,592,640 | 50 | 1,235,139 | 2,390,300 | 988,166 | 1,604,795 | 49 | |
Total comprehensive income attributable to: | |||||||||||
Equity holders of the parent | 1,235,552 | 2,394,349 | 975,462 | 1,592,663 | 50 | 1,235,139 | 2,390,300 | 988,166 | 1,604,795 | 49 | |
Non Controlling Interest | (125) | 3,010 | 30 | 345 | 772 | - | - | - | - | ||
Total comprehensive income | 1,235,427 | 2,397,359 | 975,492 | 1,593,008 | 50 | 1,235,139 | 2,390,300 | 988,166 | 1,604,795 | 49 | |
Earnings per ordinary share-basic (Rs) | 4.66 | 9.02 | 3.68 | 6.00 | 50 | 4.66 | 9.01 | 3.73 | 6.05 | 49 | |
The notes to the financial statements on page 05 form an integral part of the financial statements.
The figures in brackets indicate deductions
Page 2
LANKA TILES PLC
PROVISIONAL FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022
STATEMENT OF CHANGES IN EQUITY | ||||||||
Group | ||||||||
Amalgamation | Revaluation | Exchange | Retained | Total | Non Controlling | Shareholders' | ||
Stated Capital | ||||||||
Reserve | Reserve | Reserve | Earnings | Reserves | Interest | funds | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Balance at 01st April 2021 | 900,968 | 460,151 | 1,122,372 | 385 | 7,443,205 | 9,026,113 | 6,192 | 9,933,273 |
Charge relating to Surcharge Tax (Note 7) | - | - | - | - | (603,922) | (603,922) | - | (603,922) |
Balance at 01st April 2021 | 900,968 | 460,151 | 1,122,372 | 385 | 6,839,283 | 8,422,191 | 6,192 | 9,329,351 |
Net profit / (loss) for the period | - | - | - | - | 1,592,475 | 1,592,475 | 165 | 1,592,640 |
Other comprehensive income | - | - | - | 188 | - | 188 | 180 | 368 |
Dividend for 2020/2021 (Interim 3) | - | - | - | - | (583,554) | (583,554) | - | (583,554) |
Balance as at 30th september 2021 | 900,968 | 460,151 | 1,122,372 | 573 | 7,848,204 | 9,431,300 | 6,537 | 10,338,805 |
Balance at 01st April 2022 | 900,968 | 460,151 | 1,115,159 | 2,183 | 9,136,940 | 10,714,433 | 8,095 | 11,623,496 |
Net profit /(loss) for the period | - | - | - | - | 2,391,355 | 2,391,355 | 133 | 2,391,488 |
Other comprehensive income | - | - | - | 2,994 | - | 2,994 | 2,877 | 5,871 |
Dividend for 2020/2021 (Interim 3) | - | - | - | - | (503,978) | (503,978) | - | (503,978) |
Balance as at 30th september 2022 | 900,968 | 460,151 | 1,115,159 | 5,177 | 11,024,317 | 12,604,804 | 11,105 | 13,516,877 |
Company | Stated Capital | Amalgamation | Revaluation | Exchange | Retained | Total | Non Controlling | Shareholders' |
Reserve | Reserve | Reserve | Earnings | Reserves | Interest | funds | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Balance at 01st April 2021 | 900,968 | 460,151 | 1,122,372 | - | 7,262,289 | 8,844,813 | - | 9,745,781 |
Charge relating to Surcharge Tax (Note 7) | - | - | - | - | (603,922) | (603,922) | - | (603,922) |
Balance at 01st April 2021 | 900,968 | 460,151 | 1,122,372 | - | 6,658,367 | 8,240,891 | - | 9,141,859 |
Net profit / (loss) for the period | - | - | - | - | 1,604,795 | 1,604,795 | - | 1,604,795 |
Dividend for 2020/2021 (Interim 3) | - | - | - | - | (583,554) | (583,554) | - | (583,554) |
Balance as at 30th september 2021 | 900,968 | 460,151 | 1,122,372 | - | 7,679,608 | 9,262,132 | - | 10,163,100 |
Balance at 01st April 2022 | 900,968 | 460,151 | 1,115,159 | - | 8,963,822 | 10,539,132 | - | 11,440,100 |
Net profit / (loss) for the period | - | - | - | - | 2,390,300 | 2,390,300 | - | 2,390,300 |
Dividend for 2021/2022 (Interim 3) | (503,978) | (503,978) | (503,978) | |||||
Balance as at 30th september 2022 | 900,968 | 460,151 | 1,115,159 | - | 10,850,144 | 12,425,454 | - | 13,326,423 |
The notes to the financial statements on page 05 form an integral part of the financial statements.
The figures in brackets indicate deductions
Page 3
LANKA TILES PLC
PROVISIONAL FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2022
CASH FLOW STATEMENT
Period ended
CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES
Profit before income tax
Adjustments for:
Depreciation on tangible fixed assets
Depreciation on lease assets
Amortization of intangible Assets
Net Finance (income) / cost
Provision for retirement benefit obligations
Exchange (Gain) / loss
Interest Expense on lease liability
Share of results of associate
Operating profit (loss) before working capital changes
Changes in working capital
(Increase)/Decrease in inventories (Increase)/Decrease in trade and other receivables (Increase)/Decrease in due from related parties Increase/(Decrease) in trade & other payables Increase/(Decrease) in due to related parties
Cash generated from operations
Finance income received / (cost paid)
Retirement benefit costs paid
Income tax / Surcharge Tax paid
Net cash flows from/(used in) operating activities
CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES
Acquisition of property,plant,equipment
Dividend received
Net cash flows from /(used in) investing activities
CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES
Dividend paid
Proceeds from borrowings
Repayment of borrowings
Payments of Lease rentals
Net cash flows from /(used in) financing activities
Net Increase/(Decrease) in cash and cash equivalents
Movement in cash and cash equivalents
Net foreign exchange difference arising on translation of foreign operations Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Group | Company | |||
30.09.2022 | 30.09.2021 | 30.09.2022 | 30.09.2021 | |
Unaudited | Unaudited | Unaudited | Unaudited | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
3,035,553 | 1,975,893 | 3,034,365 | 1,975,448 | |
224,039 | 219,722 | 224,039 | 219,722 | |
22,996 | 8,328 | 22,996 | 8,328 | |
510 | 1,580 | 510 | 1,580 | |
(149,903) | (16,354) | (149,903) | (16,354) | |
18,000 | 18,000 | 18,000 | 18,000 | |
(51,353) | 13,685 | (51,353) | 13,685 | |
5,937 | 3,959 | 5,937 | 3,959 | |
3,105 | (123,626) | 4,572 | (123,553) | |
3,108,884 | 2,101,187 | 3,109,163 | 2,100,815 | |
(1,538,504) | (146,355) | (1,538,504) | (146,355) | |
(1,755,408) | (147,204) | (1,745,143) | (147,189) | |
(559,689) | 30,444 | (561,768) | 28,800 | |
(73,938) | (335,144) | (75,674) | (335,110) | |
436,168 | 142,713 | 439,461 | 144,394 | |
(382,487) | 1,645,641 | (372,465) | 1,645,355 | |
149,903 | 16,354 | 149,903 | 16,354 | |
(797) | (6,664) | (797) | (6,664) | |
(1,115,622) | (405,743) | (1,115,622) | (405,743) | |
(1,349,003) | 1,249,588 | (1,338,981) | 1,249,302 | |
(154,190) | (147,721) | (154,190) | (147,721) | |
58,883 | 68,697 | 58,883 | 68,697 | |
(95,307) | (79,024) | (95,307) | (79,024) | |
(503,978) | (583,554) | (503,978) | (583,554) | |
- | 50,000 | - | 50,000 | |
(125,824) | (175,000) | (125,824) | (175,000) | |
(33,711) | (10,127) | (33,711) | (10,127) | |
(663,513) | (718,681) | (663,513) | (718,681) | |
(2,107,823) | 451,883 | (2,097,801) | 451,597 | |
5,871 | 368 | - | - | |
4,460,862 | 2,271,874 | 4,444,213 | 2,259,217 | |
2,358,909 | 2,724,125 | 2,346,412 | 2,710,814 |
The notes to the financial statements on page 05 form an integral part of the financial statements. The figures in brackets indicate deductions
Page 4
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Lanka Tiles plc published this content on 03 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2022 10:52:09 UTC.