C T : CTH Interim Financial Statements for Quarter ended 31 Dec 2022

C T HOLDINGS PLC

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED

31 DECEMBER 2022

Contents

Statement of profit or loss and other comprehensive income - Group	01
Statement of profit or loss and other comprehensive income - Company	02
Statement of financial position	03
Statement of changes in equity	04
Statement of cash flows	05
Segment information	06
Explanatory notes	08
Corporate information	IBC

01

Statement of Profit or Loss and

Other Comprehensive Income

						Group
		For the three months ended			For the nine months ended
		31-Dec	31-Dec	Var.	31-Dec	31-Dec	Var.
		2022	2021			%		2022	2021		%
In thousands of rupees
Revenue	50,047,279	37,480,982			34.00		147,458,275	96,041,039		54.00
Cost of sales	(43,900,243)	(32,716,843)			(34.00)		(130,349,711)	(85,139,466)		(53.00)
Gross profit	6,147,036	4,764,139			29.00		17,108,564	10,901,573		57.00
Other income	611,233	550,555			11.00		1,816,798	1,597,399		14.00
Distribution expenses	(1,503,373)	(1,163,355)			(29.00)		(4,446,476)	(2,840,653)		(57.00)
Administrative expenses	(1,453,013)	(1,538,563)			6.00		(4,185,754)	(3,940,018)		(6.00)
Results from operating activities	3,801,883	2,612,776			46.00		10,293,132	5,718,301		80.00
Finance income	130,382	45,536			186.00		601,661	120,444		400.00
Finance expenses	(2,143,455)	(811,461)			(164.00)		(5,140,706)	(2,244,390)		(129.00)
Net finance costs	(2,013,073)	(765,925)			(163.00)		(4,539,045)	(2,123,946)		(114.00)
Share of profit / (loss) of associates, net of tax	159,700	26,198			510.00		51,851	(70,142)		174.00
Profit before taxation	1,948,510	1,873,049			4.00		5,805,938	3,524,213		65.00
Tax on profit for the period	(1,106,509)	(487,221)			(127.00)		(2,149,281)	(896,443)		(140.00)
Profit after tax on profit	842,001	1,385,828			(39.00)		3,656,657	2,627,770		39.00
Tax effect of dividends paid to equity holders	(148,583)	(85,435)			(74.00)		(358,627)	(261,872)		(37.00)
Profit for the period	693,418	1,300,393			(47.00)		3,298,030	2,365,898		39.00
Other comprehensive income - net of tax
Items that will not be re-classified subsequently to profit or loss:
Net change in fair value of FVOCI financial assets	(48,906)	29,968			(263.00)		111,102	24,002		363.00
Profit from sale of investments	-	-			-		-	4,709		(100.00)
Share of other comprehensive income of associates	(43,990)	(26,131)			(68.00)		(76,776)	(52,693)		(46.00)
Tax on other comprehensive income	(259,489)	-			(100.00)		(259,489)	-		(100.00)
Total other comprehensive income - net of tax	(352,385)	3,837			(9,284.00)		(225,163)	(23,982)		(839.00)
Total comprehensive income	341,033	1,304,230			(74.00)		3,072,867	2,341,916		31.00

Profit for the period attributable to

Owners of the parent	462,796	867,922	(47.00)	2,155,548	1,574,817
Non-controlling Interest	230,622	432,471	(47.00)	1,142,482	791,081
Profit for the period	693,418	1,300,393	(47.00)	3,298,030	2,365,898
Total comprehensive income attributable to
Owners of the parent	190,757	868,808	(78.00)	1,991,114	1,545,612
Non-controlling Interest	150,276	435,422	(65.00)	1,081,753	796,304
Total comprehensive income	341,033	1,304,230	(74.00)	3,072,867	2,341,916
Earnings per share (Rs.)	2.30	4.31	(47.00)	10.70	7.82
Dividends per share (Rs.)	2.45	1.55		*5.45	**4.45

• Final dividend for the year 2021/22 and interim dividend for the year 2022/23
• Final dividend for the year 2020/21 and interim dividend for the year 2021/22

37.00

44.00

39.00

29.00

36.00

31.00

37.00

PLC	Financial Statements 31 December 2022
C T HOLDINGS	Condensed Interim

02

Statement of Profit or Loss and

Other Comprehensive Income

					Company
		For the three months ended		For the nine months ended
		31-Dec	31-Dec	Var.	31-Dec	31-Dec	Var.
		2022	2021		%	2022	2021		%
In thousands of rupees
Revenue	-	-		-	-	-		-
Cost of sales	-	-		-	-	-		-
Gross profit	-	-		-	-	-		-
Other income	643,670	375,879		71.00	1,561,746	1,120,749		39.00
Distribution expenses	-	-		-	-	-		-
Administrative expenses	(33,512)	(25,796)		(30.00)	(85,516)	(76,752)		(11.00)
Results from operating activities	610,158	350,083		74.00	1,476,230	1,043,997		41.00
Finance income	7,292	847		761.00	11,263	3,245		247.00
Finance expenses	(18,957)	(20,282)		7.00	(52,683)	(27,075)		(95.00)
Net finance costs	(11,665)	(19,435)		40.00	(41,420)	(23,830)		(74.00)
Profit before taxation	598,493	330,648		81.00	1,434,810	1,020,167		41.00
Tax on profit for the period	(5)	-		-	(5)	-		-
Profit for the period	598,488	330,648		81.00	1,434,805	1,020,167		41.00
Other comprehensive income - net of tax
Items that will not be re-classified subsequently to profit or loss:
Net change in fair value of FVOCI financial assets	(29,788)	19,693		(251.00)	62,161	5,881		957.00
Profit from sale of investments	-	-		-	-	4,709		100.00
Total other comprehensive income - net of tax	(29,788)	19,693		(251.00)	62,161	10,590		487.00
Total comprehensive income	568,700	350,341		62.00	1,496,966	1,030,757		45.00

PLC	Financial Statements 31 December 2022
C T HOLDINGS	Condensed Interim

Profit for the period attributable to
Owners of the parent	598,488	330,648	81.00	1,434,805	1,020,167	41.00
Non-controlling Interest	-	-	-	-	-	-
Profit for the period	598,488	330,648	81.00	1,434,805	1,020,167	41.00
Total comprehensive income attributable to
Owners of the parent	568,700	350,341	62.00	1,496,966	1,030,757	45.00
Non-controlling Interest	-	-	-	-	-	-
Total comprehensive income	568,700	350,341	62.00	1,496,966	1,030,757	45.00
Earnings per share (Rs.)	2.97	1.64	81.00	7.12	5.07	40.00
Dividends per share (Rs.)	2.45	1.55		*5.45	**4.45

• Final dividend for the year 2021/22 and interim dividend for the year 2022/23
• Final dividend for the year 2020/21 and interim dividend for the year 2021/22

03

Statement of Financial Position

	Group		Company
As at	31-Dec	31-Mar	31-Dec	31-Mar
In thousands of rupees	2022	2022	2022	2022
		(Audited)		(Audited)
Assets
Non-current assets
Property, plant & equipment	45,520,608	41,767,767	2,354	2,033
Right of use assets	20,201,005	16,889,657	101	117
Investment property	10,272,491	9,579,553	709,700	709,700
Intangible assets	1,737,336	1,641,799	688,467	688,467
Investments in subsidiaries	-	-	1,604,677	1,604,677
Investments in equity accounted investees	5,630,530	5,655,456	5,605,950	5,605,950
Prepayment on leasehold land and building	200,912	200,912	-	-
Other financial assets	1,788,419	1,692,801	98,201	65,163
Deferred tax assets	12,627	8,598	-	-
Total non-current assets	85,363,928	77,436,543	8,709,450	8,676,107
Current assets
Inventories	23,595,814	14,809,637	-	-
Trade and other receivables	11,973,132	7,557,348	33,213	47,586
Amounts due from subsidiaries	-	-	29,029	24,849
Amounts due from other related parties	277,259	277,213	3,408	3,408
Other financial assets	128,734	1,016,556	-	-
Cash and cash equivalents	5,516,220	3,554,218	220,438	8,944
Total current assets	41,491,159	27,214,972	286,088	84,787
Total assets	126,855,087	104,651,515	8,995,538	8,760,894
Equity and liabilities
Equity attributable to owners of the parent
Stated capital	6,489,758	6,489,758	6,489,758	6,489,758
Reserves	3,048,871	3,136,528	107,908	45,747
Retained earnings	14,396,793	14,161,037	1,496,488	1,159,351
Total equity attributable to equity holders of the parent	23,935,422	23,787,323	8,094,154	7,694,856
Non-controlling interest	9,694,190	9,555,690	-	-
Total equity	33,629,612	33,343,013	8,094,154	7,694,856
Liabilities
Non-current liabilities
Interest bearing loans and borrowings	27,755,541	27,101,528	665,239	800,780
Employee benefits	1,862,590	1,638,653	38,087	36,893
Capital grants	7,364	15,975	-	-
Trade and other payables	196,789	181,187	-	-
Deferred tax liabilities	1,321,353	911,084	-	-
Total non-current liabilities	31,143,637	29,848,427	703,326	837,673

Current liabilities
Trade and other payables	27,886,032	23,331,543	1,940	16,642
Current tax liabilities	5,779,297	4,198,294	-	-
Amounts due to subsidiaries	-	-	30,054	18,868
Amounts due to other related parties	1,430	2,928	-	-
Dividends payable	166,064	167,236	166,064	167,236
Interest bearing loans and borrowings	28,249,015	13,760,074	-	25,619
Total current liabilities	62,081,838	41,460,075	198,058	228,365
Total liabilities	93,225,475	71,308,502	901,384	1,066,038
Total equity & liabilities	126,855,087	104,651,515	8,995,538	8,760,894
Net Asset Value per Share (Rs.)	118.84	118.11	40.19	38.21

The Board of Directors is responsible for the	preparation and presentation of these	I certify that these Financial Statements have been
Financial Statements. The Financial Statements	have been approved by the Board of	prepared in accordance with the requirements of
Directors on 13 February 2023		the Companies Act No 7 of 2007.
V R Page	A T P Edirisinghe	S C Niles
Deputy Chairman / Managing Director	Director	Executive Director

PLC	Financial Statements 31 December 2022
C T HOLDINGS	Condensed Interim