INTERIM FINANCIAL STATEMENTS
FOR THE NINE MONTHS PERIOD ENDED
31ST DECEMBER, 2021
MYLAND DEVELOPMENTS LIMITED
INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021
CONTENTS
Statement of Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Financial Statements
MYLAND DEVELOPMENTS LIMITED
STATEMENT OF PROFIT OR LOSS & OTHER COMPREHENSIVE INCOME | Page 01 | |||||||||
INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021 | ||||||||||
For the three Months ended | For the nine Months ended | |||||||||
31.12.2021 | 31.12.2020 | 31.12.2021 | 31.12.2020 | Change | ||||||
Unaudited | Unaudited | Unaudited | Unaudited | |||||||
% | ||||||||||
Rs. | Rs. | Rs. | Rs. | |||||||
Revenue | 46,539,488 | 18,372,237 | 165,892,808 | 103,613,068 | 60% | |||||
Cost of Sales | (33,579,191) | (11,300,279) | (102,585,773) | (64,802,888) | 58% | |||||
Gross Profit | 12,960,296 | 7,071,958 | 63,307,035 | 38,810,179 | 63% | |||||
Other Operating Income | 5,201,371 | 247,091 | 11,930,774 | 606,962 | 1866% | |||||
Selling & Distribution Expenses | (1,770,518) | (994,378) | (6,527,082) | (2,902,817) | 125% | |||||
Administrative Expenses | (8,943,261) | (4,056,833) | (18,682,605) | (11,271,041) | 66% | |||||
Result from Operating Activities | 7,447,888 | 2,267,838 | 50,028,122 | 25,243,283 | 98% | |||||
Finance Cost | (2,142,778) | (2,078,947) | (6,118,451) | (7,604,659) | -20% | |||||
Profit before Taxation | 5,305,110 | 188,891 | 43,909,671 | 17,638,624 | 149% | |||||
Taxation | (234,292) | (286,935) | (2,487,452) | (2,152,010) | 16% | |||||
Profit for the Period | 5,070,818 | (98,044) | 41,422,218 | 15,486,615 | 167% | |||||
Total Comprehensive Income for the Period | 5,070,818 | (98,044) | 41,422,218 | 15,486,615 | 167% |
Earnings per Share0.17-1.370.51
(The above figures are unaudited) Figures in brackets indicate deductions.
MYLAND DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION | Page 02 | |||
INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021 | ||||
As at 31st December 2021 | 31.12.2021 | 31.03.2021 | ||
Unaudited | Audited | |||
ASSETS | Rs. | Rs. | ||
Non-Current Assets | ||||
Property, Plant & Equipment | 41,688,048 | 30,908,619 | ||
Right of Use Assets | 16,348,333 | 2,954,411 | ||
Intangible Assets | 33,540 | 68,072 | ||
Fixed Deposit | 100,000 | 100,000 | ||
Deferred Tax Assets | 88,360 | 75,537 | ||
Total Non-Current Assets | 58,258,281 | 34,106,639 | ||
Current Assets | ||||
Inventories | 51,734,406 | 84,334,369 | ||
Trade and Other Receivables | 38,900,887 | 28,509,621 | ||
Other Financial Assets | 19,036,500 | 22,222,937 | ||
Cash & Cash Equivalents | 94,554,820 | 769,045 | ||
Total Current Assets | 204,226,614 | 135,835,971 | ||
TOTAL ASSETS | ||||
262,484,895 | 169,942,610 | |||
EQUITY & LIABILITIES | ||||
Equity | ||||
Stated Capital | 150,000,000 | 25,000,000 | ||
Revaluation Reserve | 10,661,000 | - | ||
Retained Earnings | 27,589,228 | 36,167,010 | ||
Total Equity | 188,250,228 | 61,167,010 | ||
Non Current Liabilities | ||||
Interest Bearing Loans & Borrowings | 28,149,564 | 29,446,647 | ||
Retirement Benefit Obligations | 1,124,000 | 924,000 | ||
Total Non-Current Liabilities | 29,273,567 | 30,370,647 | ||
Current Liabilities | ||||
Interest Bearing Loans & Borrowings | 28,547,517 | 44,961,584 | ||
Trade and Other Payables | 10,174,767 | 24,196,321 | ||
Income Tax Payable | 6,238,815 | 3,958,541 | ||
Bank Overdraft | - | 5,288,506 | ||
Total Current Liabilities | 44,961,099 | 78,404,952 | ||
TOTAL EQUITY & LIABILITIES | ||||
262,484,895 | 169,942,610 | |||
Net Assets Per Share (Rs) | 5.19 | 2.45 |
These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.
………………….
Accountant
The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Approved and signed for and on behalf of Board of Directors of the Company.
…………………. | …………………. |
Managing Director | Chairman |
(Unless otherwise stated amounts are subject to audit)
Date -08th February 2022
MYLAND DEVELOPMENTS LIMITED
STATEMENT OF CHANGES IN EQUITY | Page 03 | ||||||
INTERIM FINANCIAL STATEMENTS FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER, 2021 | |||||||
(Amount in LKR) | Stated Capital | Revaluation | Retained | Total | |||
Reserve | Earnings | ||||||
Rs. | Rs. | Rs. | Rs. | ||||
Balance as at 1st April 2020 | 16,000,000 | - | 10,745,308 | 26,745,308 | |||
Profit for the Period | - | - | 7,124,097 | 7,124,097 | |||
Unaudited Balance as at 31st December 2020 | |||||||
16,000,000 | - | 17,869,405 | 33,869,405 | ||||
Balance as at 01st April 2021 | 25,000,000 | - | 36,167,010 | 61,167,010 | |||
Revaluation Reserve | - | 10,661,000 | - | 10,661,000 | |||
Capitalization of Reserve | 50,000,000 | - | (50,000,000) | - | |||
Stated Capital - IPO | 75,000,000 | - | - | 75,000,000 | |||
Profit for the Period | - | - | 41,422,218 | 41,436,808 | |||
Balance as at 31 st December 2021 | |||||||
150,000,000 | 10,661,000 | 27,589,228 | 188,264,818 | ||||
(The above figures are unaudited)
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Myland Developments Ltd. published this content on 11 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 February 2022 10:47:06 UTC.