Chevron Lubricants Lanka : Interim Financial Statements as of 31.12.2021

CHEVRON LUBRICANTS LANKA PLC INTERIM FINANCIAL STATEMENTS 31ST DECEMBER 2021

CHEVRON LUBRICANTS LANKA PLC

INTERIM FINANCIAL STATEMENTS - 31ST DECEMBER 2021

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 31st December	Period ended 31st December
	2021	2020	Change %		2021	2020	Change %
Revenue
4,554,926	2,647,646	72		16,866,311	11,637,381	45
Cost of sales	(2,941,422)	(1,582,097)	86		(10,687,861)	(7,020,423)	52
Gross profit
1,613,504	1,065,549	51		6,178,450	4,616,958	34
Distribution costs	(304,319)	(213,876)	42		(944,738)	(777,693)	21
Administrative expenses	(223,819)	(203,808)	10		(878,149)	(807,978)	9
Other operating income	279	771	(64)		7,701	4,493	71
Operating profit	1,085,645	648,636	67		4,363,264	3,035,780	44
Finance income	39,955	28,550	40		86,109	105,452	(18)
Finance costs	(10,156)	(10,630)	(4)		(116,659)	(41,985)	178
Profit before income tax
1,115,444	666,556	67		4,332,714	3,099,247	40
Income tax expense	(209,208)	(187,921)	11		(406,597)	(873,518)	(53)
Profit for the period
906,236	478,635	89		3,926,117	2,225,729	76
Earnings per share attributable
to the equity holders of the
company during the year
Basic earnings per share	3.78	1.99			16.36	9.27
(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

Profit for the period

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 the period

Notes -The above figures are not audited.

Three months ended 31st December

2021	2020	Change %
906,236	478,635	89
11,883	(33,326)	-
(2,164)	9,331	-
9,719	(23,995)	-
915,955	454,640	89

Period ended 31st December

2021	2020	Change %
3,926,117	2,225,729	76
11,883	(33,326)
(2,164)	9,331
9,719	(23,995)	-
3,935,836	2,201,734	76

Figures in brackets indicate deductions.

Chevron Lubricants Lanka PLC

Interim Statement of Financial Position

(Amounts in Rs.000's)

Note	31st December	31st December
	2021	2020
ASSETS
Non-current assets
Property, Plant & Equipment	1,661,480	1,758,141
Right of Use Asset - Leases	302,189	342,747
Trade and other receivables	63,972	79,268
	2,027,641	2,180,156
Current assets
Inventories	3,759,672	2,690,695
Trade and other receivables	1,158,066	1,082,247
Cash and cash equivalents	4,025,116	1,898,556
	8,942,854	5,671,498
Total assets	10,970,495	7,851,654
EQUITY AND LIABILITIES
Stated capital	600,000	600,000
Retained earnings	4,398,622	3,580,188
Total equity	4,998,622	4,180,188
Liabilities
Non-current liabilities
Retirement benefit obligations	205,137	192,005
Deferred tax liabilites	156,812	246,670
Lease Liabilities	310,244	332,367
	672,193	771,042
Current liabilities
Trade and other payables	4,716,778	2,167,148
Current income tax liabilities	552,357	699,029
Lease Liabilities	30,545	34,247
	5,299,680	2,900,424
Total liabilities	5,971,873	3,671,466
Total equity and liabilities	10,970,495	7,851,654
Net Assets per Share (Rs.)	20.83	17.42
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 25th February 2022

(Sgd) Najam Shamsuddin	(Sgd) Erande De Silva
Managing Director / Chief Executive	Director / Chief Financial Officer
Officer
25th February 2022