C T : Interim Financial Statements for 4th Quarter 2021/22

C T HOLDINGS PLC

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 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 year ended
		31-Mar	31-Mar	Var.	31-Mar	31-Mar	Var.
In thousands of rupees	2022	2021	%	2022	2021		%
Revenue	40,831,717	30,151,073	35.00	136,872,756	112,940,971		21.00
Cost of sales	(36,071,508)	(26,724,792)	(35.00)	(121,271,134)	(100,326,804)		(21.00)
Gross profit	4,760,209	3,426,281	39.00	15,601,622	12,614,167		24.00
Other income	596,208	535,739	11.00	2,192,997	2,098,333		5.00
Distribution expenses	(1,287,871)	(765,918)	(68.00)	(3,891,166)	(3,038,654)		(28.00)
Administrative expenses	(916,315)	(943,540)	3.00	(4,453,985)	(3,800,579)		(17.00)
Other expenses	(237,633)	(192,515)	(23.00)	(817,179)	(694,165)		(18.00)
Results from operating activities	2,914,598	2,060,047	41.00	8,632,289	7,179,102		20.00
Finance income	106,916	57,561	86.00	227,360	192,232		18.00
Finance expenses	(803,745)	(730,183)	(10.00)	(3,048,135)	(2,811,882)		(8.00)
Foreign exchange gain / (loss)	(516,511)	23,338	(2,313.00)	(515,901)	21,216		(2,532.00)
Net finance costs	(1,213,340)	(649,284)	(87.00)	(3,336,676)	(2,598,434)		(28.00)
Change in fair value of investment property	263,160	98,478	167.00	263,160	98,478		167.00
Share of profit/ (loss) of associates, net of tax	(20,732)	23,351	(189.00)	(90,874)	(367,529)		75.00
Profit / (loss) before taxation	1,943,686	1,532,592	27.00	5,467,899	4,311,617		27.00
Tax on profit for the period	(108,623)	355,781	(131.00)	(1,005,066)	(763,735)		(32.00)
Profit/ (loss) after tax on profit	1,835,063	1,888,373	(3.00)	4,462,833	3,547,882		26.00
Tax effect of dividends paid to equity holders	-	(1,096)	100.00	(261,872)	(226,613)		(16.00)
Profit / (loss) for the period	1,835,063	1,887,277	(3.00)	4,200,961	3,321,269		26.00
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	(24,084)	(158,547)	85.00	(82)	18,037		(100.00)
Revaluation of lands and buildings	-	2,859,801	(100.00)	-	2,859,801		(100.00)
Re-measurement of obligation on defined benefit plan	167,947	(84,024)	300.00	167,947	(84,024)		300.00
Profit from sale of investments	-	330,198	(100.00)	4,709	330,198		(99.00)
Share of other comprehensive income of associates	(16,701)	(20,288)	18.00	(69,394)	22,709		(406.00)
Tax on other comprehensive income	(37,495)	(323,461)	88.00	(37,495)	(323,461)		88.00
Total other comprehensive income - net of tax	89,667	2,603,679	(97.00)	65,685	2,823,260		(98.00)
Total comprehensive income	1,924,730	4,490,956	(57.00)	4,266,646	6,144,529		(31.00)
Profit for the period attributable to
Owners of the parent	1,281,598	1,307,548	(2.00)	2,856,415	2,061,487		39.00
Non-controlling Interest	553,465	579,729	(5.00)	1,344,546	1,259,782		7.00

Profit for the period	1,835,063	1,887,277	(3.00)	4,200,961	3,321,269	26.00
Total comprehensive income attributable to
Owners of the parent	1,331,585	3,412,329	(61.00)	2,877,197	4,383,251	(34.00)
Non-controlling Interest	593,145	1,078,627	(45.00)	1,389,449	1,761,278	(21.00)
Total comprehensive income	1,924,730	4,490,956	(57.00)	4,266,646	6,144,529	(31.00)
Earnings per share (Rs.)	6.36	6.49	(2.00)	14.18	10.24	38.00
Dividends per share (Rs.)	-	-		4.45	4.25

Condensed Interim Financial Statements 31 March 2022

C T HOLDINGS PLC

02

Statement of Profit or Loss and

Other Comprehensive Income

						Company
		For the three months ended			For the year ended
		31-Mar	31-Mar	Var.	31-Mar	31-Mar	Var.
In thousands of rupees	2022	2021		%	2022	2021		%
Revenue	-	-		-	-	-		-
Cost of sales	-	-		-	-	-		-
Gross profit	-	-		-	-	-		-
Other income	16,258	78,098		(79.00)	1,137,007	991,208		15.00
Distribution expenses	-	-		-	-	-		-
Administrative expenses	(45,659)	(31,803)		(44.00)	(122,411)	(101,285)		(21.00)
Other expenses	(51,180)	(139,520)		63.00	(51,180)	(139,520)		63.00
Results from operating activities	(80,581)	(93,225)		14.00	963,416	750,403		28.00
Finance income	302	5,215		(94.00)	3,546	8,329		(57.00)
Finance expenses	(17,145)	(44)		(38,866.00)	(44,220)	(760)		(5,718.00)
Net finance costs	(16,843)	5,171		(426.00)	(40,674)	7,569		(637.00)
Change in fair value of investment property	2,600	(8,878)		129.00	2,600	(8,878)		129.00
Profit / (loss) before taxation	(94,824)	(96,932)		2.00	925,342	749,094		24.00
Tax on profit for the period	-	-		-	-	-		-
Profit/ (loss) after tax on profit	(94,824)	(96,932)		2.00	925,342	749,094		24.00
Tax effect of dividends paid to equity holders	-	(96)		100.00	-	(8,846)		100.00
Profit / (loss) for the period	(94,824)	(97,028)		2.00	925,342	740,248		25.00
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	(13,274)	(155,630)		91.00	(7,393)	12,344		(160.00)
Re-measurement of obligation on defined benefit plan	(10)	1,123		(101.00)	(10)	1,123		(101.00)
Profit from sale of investments	-	330,198		(100.00)	4,709	330,198		100.00
Total other comprehensive income - net of tax	(13,284)	175,691		(108.00)	(2,694)	343,665		(101.00)
Total comprehensive income	(108,108)	78,663		(237.00)	922,648	1,083,913		(15.00)

Condensed Interim Financial Statements 31 March 2022

C T HOLDINGS PLC

Profit for the period attributable to
Owners of the parent	(94,824)	(97,028)	2.00	925,342	740,248	25.00
Non-controlling Interest	-	-	-	-	-	-
Profit for the period	(94,824)	(97,028)	2.00	925,342	740,248	25.00
Total comprehensive income attributable to
Owners of the parent	(108,108)	78,663	(237.00)	922,648	1,083,913	(15.00)
Non-controlling Interest	-	-	-	-	-	-
Total comprehensive income	(108,108)	78,663	(237.00)	922,648	1,083,913	(15.00)
Earnings per share (Rs.)	(0.47)	(0.48)	2.00	4.59	3.68	25.00
Dividends per share (Rs.)	-	-		4.45	4.25

03

Statement of Financial Position

	Group		Company
As at	31-Mar	31-Mar	31-Mar	31-Mar
In thousands of rupees	2022	2021	2022	2021
		(Audited)		(Audited)
Assets
Non-current assets
Property, plant & equipment	41,767,767	37,827,979	2,033	2,126
Right of use assets	16,889,657	14,423,813	117	137
Investment property	9,579,553	9,176,410	709,700	1,611,865
Intangible assets	1,641,799	1,594,962	688,467	688,467
Investments in subsidiaries	-	-	1,604,677	1,942,686
Investments in equity accounted investees	5,655,456	5,846,685	5,605,948	2,906,169
Prepayment on leasehold land and building	200,912	200,912	-	-
Other financial assets	1,692,801	527,685	65,164	482,425
Deferred tax assets	8,598	10,756	-	-
Total non-current assets	77,436,543	69,609,202	8,676,106	7,633,875
Current assets
Inventories	14,809,637	11,779,617	-	-
Trade and other receivables	7,557,348	6,287,913	47,586	26,758
Amounts due from subsidiaries	-	-	24,849	18,314
Amounts due from other related parties	277,213	303,831	3,408	3,408
Other financial assets	1,016,556	1,018,661	-	63,865
Cash and cash equivalents	3,554,217	3,155,193	8,943	144,766
Total current assets	27,214,971	22,545,215	84,786	257,111
Total assets	104,651,514	92,154,417	8,760,892	7,890,986
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	3,138,635	3,191,265	45,747	53,140
Retained earnings	14,180,908	13,678,172	1,159,351	1,125,945
Total equity attributable to equity holders of the parent	23,809,301	23,359,195	7,694,856	7,668,843
Non-controlling interest	9,567,160	7,954,517	-	-
Total equity	33,376,461	31,313,712	7,694,856	7,668,843
Liabilities
Non-current liabilities
Interest bearing loans and borrowings	27,105,134	18,369,804	800,780	189
Employee benefits	1,638,653	1,624,204	36,893	34,596
Capital grants	15,975	27,454	-	-
Trade and other payables	181,187	169,679	-	-
Deferred tax liabilities	877,637	1,068,399	-	-
Total non-current liabilities	29,818,586	21,259,540	837,673	34,785

Current liabilities

Trade and other payables	23,331,542	16,315,469	16,641	11,051
Current tax liabilities	4,198,294	3,723,439	-	-
Amounts due to subsidiaries	-	-	18,868	7,036
Amounts due to other related parties	2,928	4,281	-	-
Dividends payable	167,236	169,004	167,236	169,004
Interest bearing loans and borrowings	13,756,467	19,368,972	25,618	267
Total current liabilities	41,456,467	39,581,165	228,363	187,358
Total equity & liabilities	104,651,514	92,154,417	8,760,892	7,890,986
Net Asset Value per Share (Rs.)	118.21	115.98	38.21	38.08

The Board of Directors is responsible for the preparation and presentation	I certify that these Financial Statements have been
prepared in accordance with the requirements of
of these Financial Statements. The Financial Statements have been
the Companies Act No 7 of 2007.
approved by the Board of Directors on 31st May 2022

(Signed.)	(Signed.)	(Signed.)
V R Page	A T P Edirisinghe	S C Niles
Deputy Chairman / Managing Director	Director	Executive Director

C T HOLDINGS PLC

Condensed Interim Financial Statements 31 March 2022