Alumex : Interim Financial Statement as of 31.12.2021

Alumex PLC

Interim Report

Third Quarter

Nine Months Ended 31 st December, 2021

ALUMEX PLC | Page 1

Income Statements

For the period ended 31st December, 2021

Consolidated			Consolidated					Consolidated
	Audited		Unaudited	Unaudited				Unaudited	Unaudited
year ended		9 months to	9 months to				3 months to	3 months to
31.03.21			31.12.21	31.12.20		Change	31.12.21	31.12.20		Change
	Rs.'000				Rs.'000		Rs.'000			%			Rs.'000		Rs.'000			%
6,021,532		Revenue	6,338,586	3,893,104		63		2,411,096	1,531,042		57
(4,311,900)	Cost of sales	(4,867,300)	(2,883,606)	69		(1,826,764)	(1,107,878)	65
			Gross profit						46							38
1,709,632		1,471,286	1,009,498			584,333	423,164
43,708		Other income	20,289	20,762		(2)	6,723	3,968		69
(191,273)	Distribution expenses	(168,484)	(122,249)	38		(58,996)	(34,239)	72
(329,412)	Administrative expenses	(413,579)	(218,572)	89		(149,925)	(61,781)	>100
1,232,655		Results from operating activities	909,512	689,439		32		382,136	331,111		15
44,801		Finance Income	13,494	18,094		(25)	2,090	6,579		(68)
(255,158)	Finance Costs	(170,347)	(193,482)	(12)	(55,205)	(41,500)	33
(210,357)	Net finance costs	(156,853)	(175,388)	(11)	(53,115)	(34,921)	52
1,022,298		Profit before tax	752,659	514,051		46		329,021	296,191		11
(181,287)	Tax (expense)/Reversal	(131,260)	(162,761)	(19)	(58,104)	(95,801)	(39)
841,011		Profit for the period	621,399	351,290		77		270,917	200,389		35
			Attributable to:
841,011		Owners of the Company	621,399	351,290		77		270,917	200,389		35
			Earnings per share
1.40		Basic earnings per share (Rs.)	1.04	0.59					0.45	0.33
			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
31.03.21			31.12.21	31.12.20		Change	31.12.21	31.12.20		Change
	Rs.'000				Rs.'000		Rs.'000			%			Rs.'000		Rs.'000			%
841,011		Profit for the Period	621,399	351,290		77		270,917	200,389		35
			Other Comprehensive income
5,106		Actuarial gains /(losses) on defined benefit plans	-	-					-	-		-
(906)	Income tax effect on actuarial gains /(losses)	-	-					-	-		-
-		Revaluation of land	-	-					-	-		-
60,860		Income tax effect on revaluation surplus									-
65,060		Other comprehensive income for the period, net of ta	-	-					-	-		-
906,071		Total comprehensive income for the period, net of ta	621,399	351,290		77		270,917	200,389		35
			Attributable to
906,071		Owners of the parent	621,399	351,290					270,917	200,389

ALUMEX PLC | Page 2

Income Statements

For the period ended 31st December, 2021

Company			Company					Company
	Audited		Unaudited	Unaudited				Unaudited	Unaudited
year ended		9 months to	9 months to				3 months to	3 months to
31.03.21		31.12.21		31.12.20		Change	31.12.21		31.12.20		Change
	Rs.'000			Rs.'000			Rs.'000			%			Rs.'000			Rs.'000			%
5,562,394	Revenue	5,928,777		3,616,068		64		2,216,954		1,415,803		57
(4,100,334)	Cost of sales	(4,594,245)		(2,736,207)	68		(1,671,287)	(1,047,534)	60
		Gross profit							52								48
1,462,060	1,334,533		879,861			545,667		368,269
225,083	Other income	19,883		202,869		(90)	6,317		183,968		(97)
(185,072)	Distribution expenses	(159,604)		(118,257)	35		(52,923)	(32,581)	62
(326,741)	Administrative expenses	(400,250)		(216,787)	85		(147,227)	(62,649)	135
1,175,330	Results from operating activities	794,562		747,686		6		351,834		457,007		(23)
43,449	Finance Income	13,426		17,720		(24)	2,067		6,343		(67)
(264,901)	Finance Costs	(165,244)		(205,468)	(20)	(54,481)	(43,657)	25
(221,452)	Net finance costs	(151,818)		(187,748)	(19)	(52,414)	(37,314)	40
953,878	Profit before tax	642,744		559,939		15		299,420		419,693		(29)
(137,266)	Tax (expense)/Reversal	(113,911)		(133,324)	(15)	(52,186)	(82,927)	(37)
816,612	Profit for the period	528,833		426,615		24		247,234		336,765		(27)
		Attributable to:
		Owners of the Company	528,833		426,615		24		247,234		336,765		(27)
		Earnings per share
1.36	Basic earnings per share (Rs.)	0.88		0.71					0.41		0.56
		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
31.03.21		31.12.21		31.12.20		Change	31.12.21		31.12.20		Change
	Rs.'000			Rs.'000			Rs.'000			%			Rs.'000			Rs.'000			%
816,612	Profit for the Period	528,833		426,615		24		247,234		336,765		(27)
		Other Comprehensive income
1,364	Actuarial gains /(losses) on defined benefit plans	-		-					-		-		-
(242)	Income tax effect on actuarial gains /(losses)	-		-					-		-		-
-	Revaluation of land	-		-					-		-		-
60,623	Income tax effect on revaluation surplus										-
61,745	Other comprehensive income for the period, net of ta	-		-					-		-		-
878,357	Total comprehensive income for the period, net of ta	528,833		426,615		24		247,234		336,765		(27)
		Attributable to
		Owners of the parent	528,833		426,615					247,234		336,765

ALUMEX PLC | Page 3

Statements of Financial Position

Consolidated	Company				Consolidated					Company
	Audited		Audited			Unaudited	Unaudited		Unaudited	Unaudited
	as at		as at				as at		as at			as at		as at
31.03.21	31.03.21			31.12.21	31.12.20	31.12.21	31.12.20
	Rs.'000		Rs.'000		Notes		Rs.'000			Rs.'000			Rs.'000			Rs.'000
				ASSETS
				Non - current assets
3,746,042	3,540,963	Property, plant & equipment		4,061,333		3,645,019	3,857,011		3,424,581
198,325	198,325	Right of use asset/Lease Asset		226,482		29,700	226,482		29,700
101,490	101,490	Intangible assets		104,690		66,957	104,690		66,957
-	30,000	Investments in subsidiaries		-					30,000		30,000
4,045,857	3,870,778	Total non-current assets		4,392,505		3,741,675	4,218,183		3,551,238
				Current assets
1,898,202	1,670,701	Inventories		3,569,029		1,724,810	3,071,089		1,509,548
1,029,821	877,895	Trade and other receivables		609,112		904,945	479,999		683,494
173,549	166,702	Advances and prepayments		1,045,833		23,169	999,806		83,802
-	-	Income tax recoverable		981		25,424	-		25,424
526,970	469,230	Cash & cash equivalents		725,864		341,471		713,518		327,146
3,628,542	3,184,528	Total current assets		5,950,819		3,019,819		5,264,412		2,629,414
7,674,399	7,055,306	Total assets		10,343,324		6,761,495	9,482,595		6,180,652
				EQUITY AND LIABILITIES
283,735	283,735	Stated capital	4	283,735		283,735	283,735		283,735
228,056	228,056	Capital reserves		228,056		228,056	228,056		228,056
634,539	601,889	Other components of equity		630,575		575,000	597,925		542,587
1,827,320	1,125,965	Revenue reserves		2,213,238		1,571,519	1,419,319		972,966
				Total equity attributable to
2,973,650	2,239,645	owners of the parent		3,355,604		2,658,310		2,529,035		2,027,344
-	-	Non- controlling interest		-		-		-		-
2,973,650	2,239,645	Total Equity		3,355,604		2,658,310	2,529,035		2,027,344
				Non - current liabilities
823,025	823,025	Interest bearing borrowings		833,756		1,007,362	833,756		1,007,362
186,843	186,843	Non Current Portion of Lease Liabilities		232,794		27,587	232,794		27,587
140,332	128,639	Employee benefit obligations		155,964		137,129	142,239		122,633
244,214	241,633	Deferred tax liability		213,095		353,575		218,016		349,383
1,394,414	1,380,140	Total non-current liabilities		1,435,608		1,525,654	1,426,805		1,506,965
				Current liabilities
1,619,538	1,785,924	Trade and other payables		2,302,814		1,459,174	2,452,536		1,546,284
736,650	736,650	Current portion of long term interest bearing borrowings	755,004		735,400	755,004		735,400
18,629	18,629	Current Portion of Lease Liability		17,301		14,376	17,301		14,376
869,962	855,249	Short-term interest bearing borrowings		2,325,029		339,591	2,167,169		337,951
-	-	Other current financial liabilities		-		408	-		181
15,074	13,181	Provisions		18,266		14,013	16,207		12,151
46,482	25,888	Income tax payable		133,697		14,569		118,537		-
3,306,335	3,435,521	Total current liabilities		5,552,111		2,577,531		5,526,754		2,646,343
				Total liabilities
4,700,749	4,815,661		6,987,719		4,103,185		6,953,559		4,153,308
				Total equity and liabilities
7,674,399	7,055,306		10,343,324		6,761,495		9,482,595		6,180,652

The Financial Position as at 31st December, 2021 and Income Statements ,Statements of Comprehensive Income, Changes in Equity and Cash Flow for the three 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 .

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
3rd February 2022

ALUMEX PLC | Page 4

Statements of Changes in Equity

For the period ended 31st December, 2021

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, 2021	283,735	228,056	634,539	1,827,318	2,973,648	2,973,648
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	-	-	-	-	-	-
Total other comprehensive income	-	-	-	-	-	-
Total Comprehensive income for the period	-	-	-	621,399	621,399	621,399
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	283,735	228,056	630,575	2,213,238	3,355,604	3,355,604
Balance as at 1st at April, 2020	283,735	228,056	578,964	1,291,091	2,381,846	2,381,846
Profit for the period	-	-	-	351,290	351,290	351,290
Other Comprehensive income
Actuarial gains / (losses) on defined benefit plans	-		-	-	-	-
Income tax effect on actuarial gains / (losses)	-		-	-	-	-
Total other comprehensive income	-	-	-	-	-	-
Total Comprehensive income for the period	-	-	-	351,290	351,290	351,290
					-	-
Transactions with owners, recorded directly in equity
Dividends to equity holders	-	-	-	(74,826)	(74,826)	(74,826)
Recovery for the period	-	-	-	-	-	-
Transfers	-		(3,964)	3,964	-	-
Total contributions by and distributions to owners	-	-	(3,964)	(70,862)	(74,826)	(74,826)
Balance as at 31st December 2020	283,735	228,056	575,000	1,571,519	2,658,310	2,658,310

ALUMEX PLC | Page 5