Alumex PLC

Interim Report

Third Quarter

Nine Months Ended 31st December, 2022

ALUMEX PLC | Page 1

Income Statements

For the period ended 31st December, 2022

Consolidated

Consolidated

Consolidated

Audited

Unaudited

Unaudited

Unaudited

Unaudited

year ended

9 months to

9 months to

3 months to

3 months to

31.03.22

31.12.22

31.12.21

Change

31.12.22

31.12.21

Change

Rs.'000

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

9,595,282

Revenue

7,605,557

6,338,586

20

2,396,119

2,411,096

(1)

(7,316,667)

Cost of sales

(6,383,576)

(4,867,300)

31

(1,916,087)

(1,826,764)

5

2,278,615

Gross profit

1,221,981

1,471,286

(17)

480,033

584,333

(18)

53,141

Other income

66,777

20,289

>100

32,480

6,723

>100

(267,516)

Distribution expenses

(234,374)

(168,484)

39

(88,521)

(58,996)

50

(576,512)

Administrative expenses

(405,176)

(413,579)

(2)

(145,270)

(149,925)

(3)

1,487,728

Results from operating activities

649,207

909,512

(29)

278,722

382,136

(27)

452,482

Finance Income

15,596

13,494

16

2,809

2,090

34

(558,455)

Finance Costs

(718,839)

(170,347)

>100

(345,668)

(55,205)

>100

(105,973)

Net finance costs

(703,243)

(156,853)

>100

(342,859)

(53,115)

>100

1,381,755

Profit before tax

(54,035)

752,659

>100

(64,137)

329,021

>100

(229,849)

Tax (expense)/Reversal

(90,390)

(131,260)

(31)

(88,665)

(58,104)

53

Profit for the period

>100

>100

1,151,906

(144,426)

621,399

(152,802)

270,917

Attributable to:

1,151,906

Owners of the Company

(144,426)

621,399

>100

(152,802)

270,917

>100

Earnings per share

1.92

Basic earnings per share (Rs.)

(0.24)

1.04

(0.26)

0.45

Statements of Comprehensive Income

Consolidated

Consolidated

Consolidated

Audited

Unaudited

Unaudited

Unaudited

Unaudited

year ended

9 months to

9 months to

3 months to

3 months to

31.03.22

31.12.22

31.12.21

Change

31.12.22

31.12.21

Change

Rs.'000

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

1,151,906

Profit for the Period

(144,426)

621,399

>100

(152,802)

270,917

>100

Other Comprehensive income

(12,394)

Actuarial gains / (losses) on defined benefit plans

-

-

-

-

2,200

Income tax effect on actuarial gains / (losses)

-

-

-

-

152,952

Revaluation of land

-

-

-

-

(27,149)

Income tax effect on revaluation surplus

(44,183)

-

(44,183)

-

115,609

Other comprehensive income for the period, ne

(44,183)

-

(44,183)

-

1,267,515

Total comprehensive income for the period, net

(188,609)

621,399

>100

(196,985)

270,917

>100

Attributable to

1,267,515

Owners of the parent

(188,609)

621,399

(196,985)

270,917

ALUMEX PLC | Page 2

Income Statements

For the period ended 31st December, 2022

Company

Company

Company

Audited

Unaudited

Unaudited

Unaudited

Unaudited

year ended

9 months to

9 months to

3 months to

3 months to

31.03.22

31.12.22

31.12.21

Change

31.12.22

31.12.21

Change

Rs.'000

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

9,042,944

Revenue

7,605,557

5,928,777

28

2,396,119

2,216,954

8

(7,027,596)

Cost of sales

(6,383,576)

(4,594,245)

39

(1,916,087)

(1,671,287)

15

2,015,348

Gross profit

1,221,981

1,334,533

(8)

480,033

545,667

(12)

51,973

Other income

66,777

19,883

>100

32,480

6,317

>100

(261,289)

Distribution expenses

(234,374)

(159,604)

47

(88,521)

(52,923)

67

(554,063)

Administrative expenses

(405,176)

(400,250)

1

(145,270)

(147,227)

(1)

1,251,969

Results from operating activities

649,207

794,562

(18)

278,722

351,834

(21)

440,172

Finance Income

15,596

13,426

16

2,809

2,067

36

(535,723)

Finance Costs

(718,839)

(165,244)

>100

(345,668)

(54,481)

>100

(95,551)

Net finance costs

(703,243)

(151,818)

>100

(342,859)

(52,414)

>100

1,156,418

Profit before tax

(54,035)

642,744

>100

(64,137)

299,420

>100

(189,670)

Tax (expense)/Reversal

(90,390)

(113,911)

(21)

(88,665)

(52,186)

70

966,748

Profit for the period

(144,426)

528,833

>100

(152,802)

247,234

>100

Attributable to:

Owners of the Company

(144,426)

528,833

>100

(152,802)

247,234

>100

Earnings per share

1.62

Basic earnings per share (Rs.)

(0.24)

0.88

(0.26)

0.41

Statements of Comprehensive Income

Company

Company

Company

Audited

Unaudited

Unaudited

Unaudited

Unaudited

year ended

9 months to

9 months to

3 months to

3 months to

31.03.22

31.12.22

31.12.21

Change

31.12.22

31.12.21

Change

Rs.'000

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

966,748

Profit for the Period

(144,426)

528,833

>100

(152,802)

247,234

>100

Other Comprehensive income

(7,870)

Actuarial gains / (losses) on defined benefit plans

-

-

-

-

1,397

Income tax effect on actuarial gains / (losses)

-

-

-

-

139,952

Revaluation of land

-

-

-

-

(24,841)

Income tax effect on revaluation surplus

(44,183)

(44,183)

-

108,638

Other comprehensive income for the period, ne

(44,183)

-

(44,183)

-

1,075,386

Total comprehensive income for the period, net

(188,609)

528,833

>100

(196,985)

247,234

>100

Attributable to

1,075,386

Owners of the parent

(188,609)

528,833

(196,985)

247,234

ALUMEX PLC | Page 3

Statements of Financial Position

Consolidated

Company

Company

Consolidated

Audited

Audited

Unaudited

Unaudited

Unaudited

as at

as at

as at

as at

as at

31.03.22

31.03.22

31.12.22

31.12.21

31.12.21

(Restated)

(Restated)

Rs.'000

Rs.'000

Notes

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non - current assets

4,390,421

4,166,241

Property, plant & equipment

272,775

272,775

Right of use asset/Lease Asset

88,868

88,868

Intangible assets

  • 30,000 Investments in subsidiaries
    4,752,064 4,557,884 Total non-current assets

Current assets

3,602,127

3,247,592

Inventories

1,586,449

1,347,316

Trade and other receivables

1,262,417

1,240,377

Advances and prepayments

-

-

Income tax recoverable

866,243

843,214

Cash & cash equivalents

7,317,236

6,678,499

Total current assets

12,069,300

11,236,383

Total assets

EQUITY AND LIABILITIES

4,592,509

3,857,011

4,061,333

251,578

226,482

226,482

83,411

104,690

104,690

-

30,000

-

4,927,498

4,218,183

4,392,505

3,738,112

3,071,088

3,569,031

1,265,610

479,999

609,112

786,078

999,806

1,045,833

-

-

981

286,624

713,518

725,864

6,076,425

5,264,411

5,950,821

11,003,924

9,482,595

10,343,327

283,735

283,735

Stated capital

5

283,735

283,735

283,735

228,056

228,056

Capital reserves

228,056

228,056

228,056

755,057

711,715

Other components of equity

710,874

597,925

630,575

2,615,154

1,732,361

Revenue reserves

2,257,963

1,356,211

2,150,134

Total equity attributable to

3,882,002

2,955,867

owners of the parent

3,480,628

2,465,927

3,292,499

  • - Non- controlling interest
    3,882,002 2,955,867 Total Equity

Non - current liabilities

-

-

-

3,480,628

2,465,927

3,292,499

1,128,989

1,128,989

Interest bearing borrowings

1,058,147

833,756

833,756

286,046

286,046

Non Current Portion of Lease Liabilities

-

232,794

232,794

166,265

148,940

Employee benefit obligations

178,387

142,239

155,964

238,321

245,033

Deferred tax liability

336,856

218,016

213,095

1,819,621

1,809,008

Total non-current liabilities

1,573,391

1,426,805

1,435,608

Current liabilities

2,614,366

2,951,594

Trade and other payables

1,875,391

2,452,536

2,302,814

651,392

651,392

Current portion of long term interest bearing borrowings

316,409

755,004

755,004

17,301

17,301

Current Portion of Lease Liability

273,958

17,301

17,301

2,839,651

2,642,751

Short-term interest bearing borrowings

3,442,090

2,167,169

2,325,029

19,687

17,093

Provisions

21,754

16,207

18,266

225,280

191,377

Income tax payable

20,303

181,645

196,805

6,367,677

6,471,508

Total current liabilities

5,949,905

5,589,863

5,615,219

8,187,298

8,280,516

Total liabilities

7,523,296

7,016,668

7,050,827

12,069,300

11,236,383

Total equity and liabilities

11,003,924

9,482,595

10,343,327

The Financial Position as at 31st December, 2022 and Income Statements ,Statements of Comprehensive Income, Changes in Equity and Cash Flow for the nine months then ended are drawn up from the unaudited financial statements of the Company, its Subsidiaries and they provide the information required by the Colombo Stock Exchange.

It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act no 7 of 2007 .

*Alco Industries (Private) Limited a wholly owned subsidiary of Alumex PLC was amalgamated with Alumex PLC with effect from effect from 23rd August 2022 in terms of Section 242 of the Companies Act No 7 of 2007 and continue as Alumex PLC, hence no Consolidated Statements of Financial Position was presented as at 31st December 2022.

Sgd

R P P K Rajapaksha

Director / Chief Financial Officer

Signed for and on behalf of the Board

Sgd

Sgd

A M Pandithage

D W P N Dediwela

Chairman

Managing Director

8th February 2023

ALUMEX PLC | Page 4

Statements of Changes in Equity

For the period ended 31st December, 2022

Consolidated

Attributable to owners of the parent

Stated

Capital

Revaluation

Retained

Shareholders'

Total

capital

reserve

reserve

earnings

Funds

Equity

Rs. '000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 1st at April, 2022 (Adjusted)

283,734

228,055

755,056

2,552,044

3,818,888

3,818,888

Profit for the period

-

-

-

(144,426)

(144,426)

(144,426)

Other Comprehensive income

Actuarial gains / (losses) on defined benefit plans

-

-

-

-

-

-

Income tax effect on actuarial gains / (losses)

-

-

-

-

-

-

Revaluation of land

-

-

-

-

-

-

Income tax effect on Revaluation surplus

-

-

(44,183)

-

(44,183)

(44,183)

Total other comprehensive income

-

-

(44,183)

-

(44,183)

(44,183)

Total Comprehensive income for the period

-

-

(44,183)

(144,426)

(188,609)

(188,609)

Transactions with owners, recorded directly in equity

Dividends to equity holders

-

-

-

(149,651)

(149,651)

(149,651)

Transfers

-

-

-

-

-

-

Total contributions by and distributions to owners

-

-

-

(149,651)

(149,651)

(149,650)

Balance as at 31st December 2022 (Adjusted)

283,734

228,055

710,873

2,257,963

3,480,628

3,480,628

  • Alco Industries (Private) Limited ("Alco") a wholly owned subsidiary of Alumex PLC was amalgamated with Alumex PLC with effect from effect from 23rd August 2022 in terms of Section 242 of the Companies Act No 7 of 2007 and continue as Alumex PLC, hence as at 30th September 2022, the Statements of Changes in Equity of Consolidated and Company are equal.

Balance as at 1st at April, 2021

283,735

228,056

634,539

1,827,320

2,973,650

2,973,650

Charge relating to Surcharge Tax

-

-

-

(63,108)

(63,108)

(63,108)

Balance as at 1st at April, 2021 (Adjusted)

283,735

228,056

634,539

1,764,212

2,910,542

2,910,542

-

-

Profit for the period

-

-

-

621,399

621,399

621,399

Other Comprehensive income

Actuarial gains / (losses) on defined benefit plans

-

-

-

-

-

-

Income tax effect on actuarial gains / (losses)

-

-

-

-

-

-

Revaluation of land

-

-

-

-

-

-

Income tax effect on Revaluation surplus

-

-

-

-

-

-

Total other comprehensive income

-

-

-

-

-

-

Total Comprehensive income for the period

-

-

-

621,399

621,399

621,398

-

-

Transactions with owners, recorded directly in equity

Dividends to equity holders

-

-

-

(239,442)

(239,442)

(239,442)

Transfers

(3,964)

3,964

-

-

Total contributions by and distributions to owners

-

-

(3,964)

(235,478)

(239,442)

(239,442)

Balance as at 31st December 2021 (Adjusted)

283,735

228,056

630,575

2,150,134

3,292,499

3,292,499

ALUMEX PLC | Page 5

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Alumex plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 03:41:07 UTC.