Bairaha Farms : Financial statements as at 31st December 2021

BAIRAHA FARMS PLC.

FINANCIAL STATEMENTS

31ST DECEMBER 2021

Bairaha Farms PLC
Statement of Financial Position
As at 31st December 2021
		Group				Company
	Unaudited	Unaudited	Audited		Unaudited	Unaudited	Audited
	as at	as at	as at		as at	as at	as at
	31.12.2021	31.12.2020	31.03.2021	31.12.2021	31.12.2020	31.03.2021
	Rs	Rs	Rs		Rs	Rs	Rs
ASSETS
Non-Current Assets
Property, Plant & Equipment	2,308,497,990	2,259,740,662	2,349,860,724	929,626,950	803,462,922	869,539,497
Right of use Assets	9,967,829	14,397,975	13,290,436	15,910,324	22,981,580	21,213,766
Investment Property	-	-	-	52,513,517	54,831,475	54,252,615
Intangible Assets	35,223,628	39,965,150	38,724,829	35,125,628	39,930,150	38,619,829
Investments in Subsidiaries	-	-	-	381,532,820	381,532,820	381,532,820
Investments in Joint Ventures	1,193,123,767	1,045,372,305	1,104,730,371	711,922,000	711,922,000	711,922,000
Other Investments	1,131,900	651,700	1,131,900	1,131,900	651,700	1,131,900
Biological Assets- Bearer	111,699,238	57,192,185	32,828,331		46,667,274	27,704,836	28,023,793
	3,659,644,352	3,417,319,977	3,540,566,591	2,174,430,413	2,043,017,483	2,106,236,221
Current Assets
Inventories	305,921,623	274,882,921	245,063,033	183,385,385	185,344,397	163,807,155
Biological Assets- Consumable	208,219,642	171,746,269	202,504,633	107,872,335	111,547,542	115,167,091
Biological Assets- Bearer	420,831,015	395,360,240	476,157,350	176,043,613	61,184,023	115,699,747
Trade and Other Receivables	608,183,492	540,279,503	497,271,748	548,662,631	425,664,156	399,587,268
Income Tax Receivable	38,948,709	49,157,587	44,930,802	24,921,996	29,303,428	27,705,507
Other Investments	45,577,596	45,561,106	46,212,932	77,596	61,106	77,596
Amounts Due from Related Parties	1,060,245	1,042,882	509,233	50,636,982	50,469,737	26,466,326
Cash and Bank Balances	432,709,954	209,550,202	237,120,218		198,112,332	150,700,532	178,180,090
	2,061,452,276	1,687,580,710	1,749,769,949		1,289,712,870	1,014,274,921	1,026,690,779
Total Assets	5,721,096,628	5,104,900,687	5,290,336,540	3,464,143,283	3,057,292,404	3,132,927,000
EQUITY AND LIABILITIES
Equity
Stated Capital	256,305,197	256,305,197	256,305,197	256,305,197	256,305,197	256,305,197
Revaluation Surplus	572,830,043	507,589,644	580,246,801	183,956,592	149,823,471	183,956,592
Fair Value Reserve	(1,014,107)	(1,494,307)	(1,014,107)	(1,014,107)	(1,494,307)	(1,014,107)
Actuarial Gain on Defined Benefit Plans	(5,557,842)	(1,487,161)	(5,557,842)	(5,557,842)	(1,487,161)	(5,557,842)
Retained Earnings	3,682,827,812	3,047,013,356	3,284,213,706		1,072,509,838	1,076,752,193	1,059,983,299
Total Equity	4,505,391,103	3,807,926,729	4,114,193,755	1,506,199,678	1,479,899,393	1,493,673,139
Non-Current Liabilities
Financing & Lease (Ijara) Payable	208,066,208	228,219,170	141,629,432	112,593,857	166,532,870	94,079,389
Deferred Tax Liabilities	180,137,125	157,626,438	180,137,125	56,229,716	44,511,685	56,229,716
Retirement Benefit Liability	100,164,664	81,675,948	95,929,438		85,410,924	70,196,130	82,774,701
	488,367,997	467,521,556	417,695,995	254,234,497	281,240,685	233,083,806
Current Liabilities
Trade and Other Payables	389,489,640	437,744,896	374,350,382	1,205,416,634	662,395,518	898,019,890
Dividends Payable	17,600,506	14,831,691	14,820,660	17,600,506	14,831,691	14,820,660
Amounts Due to Related Parties	-	-	-	249,494,464	323,418,841	214,034,760
Financing & Lease (Ijara) Payable	320,247,382	376,875,815	369,275,748		231,197,504	295,506,276	279,294,745
	727,337,528	829,452,402	758,446,790		1,703,709,108	1,296,152,326	1,406,170,055
Total Equity and Liabilities	5,721,096,628	5,104,900,687	5,290,336,540		3,464,143,283	3,057,292,404	3,132,927,000

The above figures are provisional and subject to audit.

I certify that the above Financial Statements have been prepared in compliance with the reqirements of the Companies Act No. 07 of 2007.

Sgd: Mr. J.M Razil

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Sgd: Mr. Yakooth Naleem	Sgd: Mr. Riyal Yakoob
Managing Director	Executive Director
31-Jan-2022

Bairaha Farms PLC.

Statement of Profit or Loss and Other Comprehensive Income - Group

For the Nine Months ended 31st December 2021

	Unaudited	Unaudited
	for the nine	for the nine	Unaudited	Unaudited	Group
	months ended	months ended	for the quarter	for the quarter	Change
	31.12.2021	31.12.2020	ended 31.12.2021	ended 31.12.2020	%
	Rs	Rs	Rs	Rs	+/(-)
Revenue	4,416,809,589	3,635,185,958	1,670,370,421	1,174,747,384	22
Cost of Sales	(3,512,906,369)	(3,198,386,708)	(1,269,989,009)	(992,332,253)	10
Gross Profit	903,903,220	436,799,250	400,381,412	182,415,131	107
Other Operating Income	20,117,289	22,709,940	3,479,390	6,115,088	(11)
Distribution Costs	(302,540,761)	(217,404,273)	(117,779,927)	(76,086,467)	39
Administrative Expenses	(225,817,841)	(202,396,749)	(82,340,689)	(65,476,147)	12
Other Operating Expenses	(395,685)	(1,065,198)	(139,161)	-	(63)
Finance Cost	(28,532,704)	(48,583,183)	(9,348,999)	(17,287,053)	(41)
Profit before Tax	366,733,518	(9,940,213)	194,252,026	29,680,552	3789
Share of Profit from Joint Venture Companies	138,393,825	114,684,986	41,287,137	85,746,969	21
Income Tax Expense	(17,929,995)	5,262,816	(2,994,095)	5,262,816
Profit for the Period	487,197,348	110,007,589	232,545,068	120,690,337	343
Other Comprehensive Income	-	-	-	-	-
Total Comprehensive Income	487,197,348	110,007,589	232,545,068	120,690,337	343
Earnings per Share - Basic	30.45	6.88	14.53	7.54	343

The above figures are provisional and subject to audit.

I certify that the above Financial Statements have been prepared in compliance with the reqirements of the Companies Act No. 07 of 2007.

Sgd: Mr. J.M Razil

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Sgd: Mr. Yakooth Naleem	Sgd: Mr. Riyal Yakoob
Managing Director	Executive Director
31-Jan-2022

Bairaha Farms PLC.

Statement of Profit or Loss and Other Comprehensive Income - Company

For the Nine Months ended 31st December 2021

	Unaudited	Unaudited	Unaudited	Unaudited
	for the nine	for the nine	for the quarter	for the quarter
	months ended	months ended	ended	ended	Group
	31.12.2021	31.12.2020	31.12.2021	31.12.2020	Change
					%
	Rs	Rs	Rs	Rs	+/(-)
Revenue	3,351,605,295	2,746,435,389	1,360,960,835	990,911,390	22
Cost of Sales	(2,991,791,832)	(2,627,883,191)	(1,102,743,710)	(928,088,868)	14
Gross Profit	359,813,463	118,552,198	258,217,125	62,822,522	204
Other Operating Income	207,735,462	103,473,408	32,894,020	38,303,771	101
Distribution Costs	(242,936,115)	(170,626,326)	(94,904,497)	(59,469,938)	42
Administrative Expenses	(183,470,359)	(167,116,362)	(63,091,528)	(59,679,896)	10
Other Operating Expenses	(395,685)	(1,065,198)	(139,161)	-	(63)
Finance Cost	(17,536,716)	(35,876,097)	(5,649,348)	(9,644,397)	(51)
Profit before Tax	123,210,050	(152,658,377)	127,326,611	(27,667,938)	181
Income Tax Expense	(14,683,511)	-	(2,783,511)	-	-
Profit for the Period	108,526,539	(152,658,377)	124,543,100	(27,667,938)	171
Other Comprehensive Income	-	-	-	-	-
Total Comprehensive Income	108,526,539	(152,658,377)	124,543,100	(27,667,938)	171
Earnings per Share - Basic	6.78	(9.54)	7.78	(1.73)	171

The above figures are provisional and subject to audit.

I certify that the above Financial Statements have been prepared in compliance with the reqirements of the Companies Act No. 07 of 2007.

Sgd: Mr. J.M Razil	-
Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Sgd: Mr. Yakooth Naleem	Sgd: Mr. Riyal Yakoob
Managing Director	Executive Director
31-Jan-2022

Bairaha Farms PLC.

Statement of Changes in Equity

For the Nine Months ended 31st December 2021

Group

Balance as at 1st April 2020

Profit for the Nine Months ended 31st December 2020 Dividends

Balance as at 31st December 2020

Company

Balance as at 1st April 2020

Profit for the Nine Months ended 31st December 2020 Dividends

Balance as at 31st December 2020

Group

Balance as at 1st April 2021

Profit for the Nine Months ended 31st December 2021 Surplus on Revaluation of Property, Plant & Equipment Dividends

Balance as at 31st December 2021

Company

Balance as at 1st April 2021

Profit for the Nine Months ended 31st December 2021 Dividends

Balance as at 31st December 2021

			Actuarial Gain
Stated	Revaluation	Fair Value	on Defined
Capital	Surplus	Reserve	Benefit Plans	Retained Earnings	Total
Rs	Rs	Rs	Rs	Rs	Rs
256,305,197	507,589,644	(1,494,307)	(1,487,161)	2,937,005,767	3,697,919,140
-	-	-	-	110,007,589	110,007,589
-	-	-	-	-	-
256,305,197	507,589,644	(1,494,307)	(1,487,161)	3,047,013,356	3,807,926,729
256,305,197	149,823,471	(1,494,307)	(1,487,161)	1,229,410,570	1,632,557,770
-	-	-	-	(152,658,377)	(152,658,377)
-	-	-	-	-	-
256,305,197	149,823,471	(1,494,307)	(1,487,161)	1,076,752,194	1,479,899,393
256,305,197	580,246,801	(1,014,107)	(5,557,842)	3,284,213,706	4,114,193,755
-	-	-	-	487,197,348	487,197,348
-	(7,416,758)	-	-	7,416,758.00	-
-	-	-	-	(96,000,000)	(96,000,000)
256,305,197	572,830,043	(1,014,107)	(5,557,842)	3,682,827,812	4,505,391,103
256,305,197	183,956,592	(1,014,107)	(5,557,842)	1,059,983,299	1,493,673,139
-	-	-	-	108,526,539	108,526,539
-	-	-	-	(96,000,000)	(96,000,000)
256,305,197	183,956,592	(1,014,107)	(5,557,842)	1,072,509,838	1,506,199,678