Chevron Lubricants Lanka : Financial Statements as of 30.06.2022
July 28, 2022 at 06:46 am EDT
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CHEVRON LUBRICANTS LANKA PLC INTERIM FINANCIAL STATEMENTS 30th JUNE 2022
CHEVRON LUBRICANTS LANKA PLC
INTERIM FINANCIAL STATEMENTS - 30TH JUNE 2022
CONTENTS
Interim Comprehensive Income Statement
Interim Statement of Financial Position
Interim Statement of Changes in Equity
Interim Statement of Cash Flows
Selective Notes to the Interim Financial Statements
Corporate Information
Chevron Lubricants Lanka PLC
Interim Comprehensive Income Statement - by function of expenses
(Amounts in Rs.000's)
Note
Three months ended 30th June
Period ended 30th June
2022
2021
Change %
2022
2021
Change %
Revenue
6,174,172
2,762,228
124
13,875,564
7,115,532
95
Cost of sales
(3,296,257)
(1,773,894)
86
(7,681,704)
(4,292,606)
79
Gross profit
2,877,915
988,334
191
6,193,860
2,822,926
119
Distribution costs
(354,439)
(196,711)
80
(646,353)
(397,073)
63
Administrative expenses
(395,853)
(213,750)
85
(675,592)
(425,002)
59
Other operating income
1,053
956
10
1,540
6,683
(77)
Operating profit
2,128,676
578,829
268
4,873,455
2,007,534
143
Finance income
157,872
15,903
893
220,952
31,883
593
Finance costs
(1,259,918)
(22,160)
5,586
(2,906,929)
(73,432)
3,859
Profit before income tax
1,026,630
572,572
79
2,187,478
1,965,985
11
Income tax expense
(186,643)
(111,346)
68
(404,691)
34,094
(1,287)
Profit for the period
839,987
461,226
82
1,782,787
2,000,079
(11)
Earnings per share attributable
to the equity holders of the
company during the year
Basic earnings per share
3.50
1.92
7.43
8.33
(expressed in LKR)
Notes -The above figures are not audited.
Figures in brackets indicate deductions.
Chevron Lubricants Lanka PLC
Interim Comprehensive Income Statement - Continued
(Amounts in Rs.000's)
Note
Three months ended 30th June
Period ended 30th June
2022
2021
Change %
2022
2021
Change %
Profit for the period
839,987
461,226
82
1,782,787
2,000,079
(11)
Other comprehensive income:
Actuarial (loss)/gain on retirement benefit
-
-
-
-
-
obligations
Tax on other comprehensive income
-
-
-
-
-
Other Comprehensive income for the period,
-
-
-
-
-
-
net of tax
Total comprehensive income for
839,987
461,226
82
1,782,787
2,000,079
(11)
the period
Notes -The above figures are not audited.
Figures in brackets indicate deductions.
Chevron Lubricants Lanka PLC
Interim Statement of Financial Position
(Amounts in Rs.000's)
(Adjusted)
Note
30th June
31st December
2022
2021
ASSETS
Non-current assets
Property, Plant & Equipment
1,576,060
1,661,480
Right of Use Asset - Leases
285,806
302,189
Trade and other receivables
63,390
63,972
1,925,256
2,027,641
Current assets
Inventories
3,471,683
3,759,673
Trade and other receivables
2,790,642
1,180,763
Cash and cash equivalents
6,679,651
4,025,116
12,941,976
8,965,552
Total assets
14,867,232
10,993,193
EQUITY AND LIABILITIES
Stated capital
600,000
600,000
Retained earnings
4,914,746
3,609,878
Total equity
5,514,746
4,209,878
Liabilities
Non-current liabilities
Retirement benefit obligations
216,914
205,137
Deferred tax liabilites
150,481
156,813
Lease Liabilities
305,923
310,244
673,318
672,194
Current liabilities
Trade and other payables
7,781,880
4,739,476
Current income tax liabilities
864,733
1,341,100
Lease Liabilities
32,555
30,545
8,679,168
6,111,121
Total liabilities
9,352,486
6,783,315
Total equity and liabilities
14,867,232
10,993,193
Net Assets per Share (Rs.)
22.98
17.54
Note: The above figures are not audited.
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007.
(Sgd) Yasora Kodagoda
Manager Finance & Planning
The Board of Directors is responsible for the preparation and presentation of these financial statements The financial statements were authorised for issue by the Board of Directors on 28th July 2022
(Sgd) Najam Shamsuddin
(Sgd) Erande De Silva
Managing Director / Chief Executive
Director / Chief Financial Officer
Officer
28th July 2022
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Chevron Lubricants Lanka plc published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 10:45:07 UTC.
Chevron Lubricants Lanka PLC is a Sri Lanka-based company, which is engaged in the business of importing, blending, distributing and marketing of lubricant oils and greases. The Company's services span blending, manufacturing, importing, distributing, and marketing lubricant oil, grease, brake fluid and specialty products. The Company provides a range of automobile lubricants, petrol engine oil, vehicle oils and grease to its retail customers through approximately 17 distributors. The Company offers products for industrial, commercial and consumer applications under the Chevron, Caltex, Delo and Lanka brands. The Company's over 90% of products are manufactured at its lubricant blending facility in Lindel Estate, Sapugaskanda. This facility includes semi-automated blending equipment, a laboratory, an on-site base oil storage tank farm and a warehouse for storing finished products. Its on-site warehouse can store up to 1.4 million liters of raw materials and finished products.
CHEVRON LUBRICANTS LANKA PLC 
