Ceylon Hospitals : Quarterly Financial Statements as of 30 September 2022

Financial Statements

Ceylon Hospitals PLC

For the 2nd Quarter ended 30th September 2022

				Financial Statements for the Six Months ended 30th September 2022
Consolidated Statement of Profit or Loss and Other Comprehensive Income			Accumulated Period of 6 Months
	Group	Company	Group	Company
	03 Months	03 Months	03 Months	03 Months	6 Months	6 Months	6 Months	6 Months
	Ended	Ended	Ended	Ended	Ended	Ended	Ended	Ended
	30/09/2022	30/09/2021	30/09/2022	30/09/2021	30/09/2022	30/09/2021	30/09/2022	30/09/2021
	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Revenue	1,935,334	2,100,407	1,090,224	1,430,105	3,579,817	3,980,538	1,996,441	2,689,770
Cost of Sales	(785,656)	(743,319)	(480,497)	(554,387)	(1,406,332)	(1,477,865)	(823,087)	(1,071,081)
Gross Profit	1,149,678	1,357,088	609,727	875,718	2,173,485	2,502,673	1,173,354	1,618,690
Other Operating Income	48,833	15,866	15,183	11,617	35,665	24,481	23,989	16,309
Administrative Expenses	(666,812)	(810,571)	(425,869)	(602,898)	(1,288,240)	(1,510,204)	(823,762)	(1,104,374)
Other Operating Expenses	(203,973)	(172,074)	(91,400)	(116,087)	(400,623)	(334,394)	(211,896)	(226,031)
Results from Operating Activities	327,726	390,309	107,641	168,351	520,287	682,556	161,685	304,594
Finance Cost	(14,743)	(16,596)	(11,876)	(16,480)	(30,326)	(40,468)	(24,554)	(39,247)
Finance Income	65,125	15,344	28,270	94,187	130,465	34,986	241,425	246,694
Gain on Bargain Purchase	-	-	-	-	-	12,002	-	-
Share of Profit of an Equity Accounted Investee	-	-	-	-	-	13,263	-	-
Profit before Taxation	378,108	389,056	124,035	246,058	620,426	702,338	378,556	512,041
								-
Taxation	(88,329)	(95,014)	(11,731)	(46,889)	(123,643)	(178,556)	(26,876)	(88,655)
Net Profit after Taxation	289,779	294,042	112,304	199,169	496,783	523,782	351,680	423,386
Other Comprehensive Income
Items will not be reclassified to profit or loss
Net Change in Fair Value on Equity Investments at
FVOCI	3,922	8	(1,632)	8	2,042	64	28	64
Other Comprehensive Income for the Year	3,922	8	(1,632)	8	2,042	64	28	64
Total Comprehensive Income for the Year	293,701	294,050	110,672	199,177	498,825	523,846	351,708	423,450
Profit Attributable to:
Equity Holders of the Parent	251,147	244,288	112,304	199,169	435,446	437,979	351,680	423,386
Non-Controlling Interest	38,632	49,755	-	-	61,337	85,803	-	-
	289,779	294,042	112,304	199,169	496,783	523,782	351,680	423,386

Total Comprehensive Income Attributable to: Equity Holders of the Parent Non-Controlling Interest

Earnings per Share - Basic

254,023	244,296	110,672	199,177	437,109	438,043	351,708	423,450
39,678	49,755	-	-	61,716	85,803	-	-
293,701	294,050	110,672	199,177	498,825	523,846	351,708	423,450
7.41	7.21	3.32	5.88	12.86	12.93	10.38	12.50

The above figures are provisional and subject to audit.

Ceylon Hospitals PLC

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Financial Statements for the Six Months ended 30th September 2022

Consolidated Statement of Financial Position
GROUP	COMPANY		GROUP	COMPANY
Audited	Audited		Unaudited	Unaudited	Unaudited	Unaudited
As at	As at		As at	As at	As at	As at
31/03/2022	31/03/2022		30/09/2022	30/09/2021	30/09/2022	30/09/2021
Rs. '000	Rs. '000		Rs. '000	Rs. '000	Rs. '000	Rs. '000
		ASSETS
		Non-Current Assets
8,481,203	5,592,128	Property, Plant and Equipment	9,186,655	7,941,871	6,169,527	5,287,830
288,954	288,954	Right of Use Assets	286,690	204,321	284,060	204,321
-	1,457,821	Investments in Subsidiary	-	-	1,457,821	1,457,821
272,923	71,416	Other Financial Assets	298,841	332,728	74,114	67,532
890	-	Prepaid Rent	-	716	-	-
9,043,970	7,410,319		9,772,186	8,479,636	7,985,522	7,017,504
		Current Assets
835,149	693,571	Inventories	951,788	593,760	750,526	503,038
306,454	214,955	Trade and Other Receivables	335,117	429,157	201,081	243,957
252,441	195,053	Prepayments	671,170	203,421	459,130	153,405
1,934	75,921	Amount Due from Related Parties	4,765	1,942	70,922	79,682
1,451,388	659,287	Other Financial Assets	1,018,082	939,384	397,222	131,638
13,278	13,259	Tax Refund Due	13,259	-	13,259	-
898,189	129,295	Cash and Cash Equivalents	501,920	693,099	195,754	124,132
3,758,833	1,981,341		3,496,101	2,860,763	2,087,894	1,235,852
12,802,803	9,391,660	Total Assets	13,268,287	11,340,399	10,073,416	8,253,356
		EQUITY AND LIABILITIES
		Equity Attributable to Equity holders of the parent
916,366	916,366	Stated Capital	916,366	916,366	916,366	916,366
2,691,662	2,134,544	Revaluation Reserve	2,691,662	2,691,662	2,134,544	2,134,544
65,868	600	Fair Value Reserve	67,531	68,500	628	192
3,873,950	2,695,436	Revenue Reserves	4,140,032	3,281,025	2,877,751	2,301,393
7,547,846	5,746,946		7,815,591	6,957,553	5,929,289	5,352,495
734,254	-	Non-Controlling Interests	759,599	691,378	-	-
8,282,100	5,746,946	Total Equity	8,575,190	7,648,931	5,929,289	5,352,495
		Non-Current Liabilities
1,701,501	1,606,247	Interest Bearing Loans and Borrowings	1,882,377	881,800	1,808,464	831,341
-	31,470	Deferred Revenue	-	-	28,785	32,589
177,998	156,790	Retirement Benefit Obligations	182,741	247,654	159,371	221,519
707,793	452,599	Deferred Tax Liabilities	717,402	649,962	452,599	440,809
2,587,292	2,247,106		2,782,520	1,779,416	2,449,219	1,526,258
		Current Liabilities
246,765	94,527	Bank Overdraft	188,526	233,260	154,964	126,197
306,060	248,830	Interest Bearing Loans and Borrowings	316,774	368,070	268,043	328,959
1,247,893	862,449	Trade and Other Payables	1,296,202	1,190,551	770,656	806,833
127,894	73,281	Taxation Payable	87,723	118,397	13,121	54,393
4,799	118,521	Amount Due to Related Parties	21,352	1,774	488,124	58,221
1,933,411	1,397,608		1,910,577	1,912,052	1,694,908	1,374,603
12,802,803	9,391,660	Total Equity and Liabilities	13,268,287	11,340,399	10,073,416	8,253,356

The above figures are provisional and subject to audit.

Sgd

Thusitha Rubasinghe

Chief Financial Officer

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

Signed for and on behalf of the Board by,

Sgd	Sgd
A E Tudawe	U D Tudawe
Chairman	Director
10th November 2022
Ceylon Hospitals PLC	- 2 -

Financial Statements for the Six Months ended 30th September 2022

CEYLON HOSPITALS PLC

STATEMENT OF CHANGES IN EQUITY

Group
	Stated	Revaluation	Fair Value	Revenue	Total	Non-Controlling	Total
	Capital	Reserve	Reserve	Reserves		Interests
	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Balance as at 31st March 2021	916,366	2,691,662	68,436	2,951,439	6,627,903	592,626	7,220,529
Net Profit for the Year	-	-	-	982,324	982,324	127,202	1,109,526
Other Comprehensive Income
Actuarial Gain on Gratuity Valuation	-	-	-	55,965	55,965	300	56,265
Deferred Tax on Gratuity Valuation	-	-	-	(6,342)	(6,342)	332	(6,010)
Prior Year Adjustments - Inventory Written-off	-	-	-	(989)	(989)	(230)	(1,219)
Net Change in Fair Value on Equity Investments at FVTOCI	-	-	(2,568)	-	(2,568)	217	(2,351)
Share Buyback	-	-	-	(54)	(54)	-	(54)
Total Comprehensive Income for the Year	-	-	(2,568)	1,030,904	1,028,335	127,822	1,156,158
Transactions with Owners in their capacity as Owners
Non-Controlling Interest on Acquisition of Subsidiary	-	-	-	-	-	127,301	127,301
Dividend Paid - Ordinary Shares	-	-	-	(108,393)	(108,393)	(113,495)	(221,888)
	-	-	-	(108,393)	(108,393)	13,806	(94,587)
Balance as at 31st March 2022	916,366	2,691,662	65,868	3,873,950	7,547,845	734,254	8,282,100
Net Profit for the Six months ended 30 September 2022	-	-	-	435,446	435,446	61,337	496,783
Other Comprehensive Income
Net Profit on equity instruments designnated at fair-
-Value through other comprehensive income	-	-	1,663	-	1,663	379	2,042
Total Comprehensive Income for the Six Months Ended 30 September 2022	-	-	1,663	435,446	437,109	61,716	498,825
Transactions with Owners in their capacity as Owners
Shares issued at Rights Issue by subsidiary	-	-	-	-	-	5,860	5,860
Dividend Paid - Ordinary Shares	-	-	-	(169,364)	(169,364)	(42,231)	(211,595)
	-	-	-	(169,364)	(169,364)	(36,371)	(205,735)
Balance as at 30th September 2022	916,366	2,691,662	67,531	4,140,032	7,815,590	759,599	8,575,190
Company
	Stated	Revaluation	Fair Value	Revenue	Total
	Capital	Reserve	Reserve	Reserves
	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Balance as at 31st March 2021	916,366	2,134,544	128	1,986,400	5,037,438
Net Profit for the Year	-	-	-	770,550	770,550
Other Comprehensive Income
Deferred Tax Effect on Revaluation Gain	-	-	-	-	-
Actuarial Gain on Gratuity Valuation	-	-	-	54,510	54,510
Deferred Tax Effect on Gratuity Valuation	-	-	-	(7,631)	(7,631)
Net Change in Fair Value on Equity Investments at FVTOCI	-	-	472	-	472
Total Comprehensive Income for the Year	-	-	472	817,429	817,901
Transactions with Owners in their capacity as Owners
Dividend Paid - Ordinary Shares	-	-	-	(108,393)	(108,393)
	-	-	-	(108,393)	(108,393)
Balance as at 31st March 2022	916,366	2,134,544	600	2,695,436	5,746,946
Net Profit for the Six months ended 30 September 2022	-	-	-	351,680	351,680
Other Comprehensive Income
Net Profit on equity instruments designnated at fair-					-
-Value through other comprehensive income	-	-	28	-	28
Total Comprehensive Income for the Six Months ended 30 September 2022	-	-	28	351,680	351,708
Transactions with Owners in their capacity as Owners
Dividend Paid - Ordinary Shares	-	-	-	(169,364)	(169,364)
	-	-	-	(169,364)	(169,364)
Balance as at 30th September 2022	916,366	2,134,544	628	2,877,751	5,929,289

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Financial Statements for the Six Months ended 30th September 2022

Consolidated Statement of Changes in Equity

For the period ended 30th September 2021

Group
	Stated	Revaluation	Fair Value	Revenue	Total	Non Controlling	Total
	Capital	Reserve	Reserve	Reserves		Interests
	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Balance as at 31st March 2020	916,366	2,483,785	65,922	2,439,753	5,905,826	587,760	6,493,586
Net Profit for the Year	-	-	-	560,349	560,349	39,910	600,259
Other Comprehensive Income
Deferred Tax Effect on Revaluation Gain	-	207,877	-	-	207,877	752	208,629
Actuarial Gain on Gratuity valuation	-	-	-	32,865	32,865	370	33,235
Deferred Tax Effect on Gratuity valuation	-	-	-	(7,007)	(7,007)	(610)	(7,617)
Net Change in Fair Value on Equity Investments at FVTOCI	-	-	2,514	-	2,514	554	3,068
Total Comprehensive Income for the Year	-	207,877	2,514	586,206	796,597	40,975	837,572
Transactions with Owners in their capacity as Owners
Share of additional capital attributable to NCI	-	-	-	-	-	1,750	1,750
Dividend Paid - Ordinary Shares	-	-	-	(74,520)	(74,520)	(37,859)	(112,379)
	-	-	-	(74,520)	(74,520)	(36,109)	(110,629)
Balance as at 31st March 2021	916,366	2,691,662	68,436	2,951,439	6,627,903	592,626	7,220,530
Net Profit for the six months ended 30 September 2021	-	-	-	437,979	437,979	85,803	523,782
Other Comprehensive Income
Net Change in Fair Value on Equity Investments at FVTOCI	-	-	64	-	64	-	64
Total Comprehensive Income for the Six months ended 30 September 2021	-	-	64	437,979	438,043	85,803	523,846
Transactions with Owners in their capacity as Owners
Non-Controlling Interest on Acquisition of Subsidiay	-	-	-	-	-	126,444	126,444
Dividend Paid - Ordinary Shares	-	-	-	(108,393)	(108,393)	(113,496)	(221,889)
	-	-	-	(108,393)	(108,393)	12,948	(95,444)
Balance as at 30th September 2021	916,366	2,691,662	68,500	3,281,025	6,957,553	691,378	7,648,931
Company
	Stated	Revaluation	Fair Value	Revenue	Total
	Capital	Reserve	Reserve	Reserves
	Rs. '000	Rs. '000	Rs. '000	Rs. '000	Rs. '000
Balance as at 31st March 2020	916,366	1,931,063	-	1,588,064	4,435,493
Net Profit for the Year	-	-	-	446,118	446,118
Other Comprehensive Income
Deferred Tax Effect on Revaluation Gain	-	203,481	-	-	203,481
Actuarial Gain on Gratuity valuation	-	-	-	31,090	31,090
Deferred Tax Effect on Gratuity valuation	-	-	-	(4,353)	(4,353)
Net Change in Fair Value on Equity Investments at FVTOCI	-	-	128	-	128
Total Comprehensive Income for the Year	-	203,481	128	472,855	676,464
Transactions with Owners in their capacity as Owners
Dividend Paid - Ordinary Shares	-	-	-	(74,520)	(74,520)
	-	-	-	(74,520)	(74,520)
Balance as at 31st March 2021	916,366	2,134,544	128	1,986,400	5,037,438
Net Profit for the six months ended 30 September 2021	-	-	-	423,386	423,386
Other Comprehensive Income
Net Change in Fair Value on Equity Investments at FVTOCI	-	-	64	-	64
Total Comprehensive Income for the Six months ended 30 September 2021	-	-	64	423,386	423,450
Transactions with Owners in their capacity as Owners
Dividend Paid - Ordinary Shares	-	-	-	(108,393)	(108,393)
	-	-	-	(108,393)	(108,393)
Balance as at 30th September 2021	916,366	2,134,544	192	2,301,393	5,352,495

Ceylon Hospitals PLC

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