DIPPED PRODUCTS PLC

INTERIM REPORT FOR THE NINE MONTHS ENDED 31ST DECEMBER 2022

Page 1

CORPORATE INFORMATION

LEGAL FORM

SECRETARIES

A Public Limited Company

Hayleys Group Services (Private) Limited

Incorporated in Sri Lanka in 1976

400, Deans Road, Colombo 10, Sri Lanka

Telephone: 2627650-6 (7 Lines)

COMPANY NUMBER

Fax: 2627655

PQ60

DIRECTORS

Mr. Mohan Pandithage - Chairman

STOCK EXCHANGE LISTING

Mr. Rajitha Kariyawasan - Deputy Chairman

The ordinary shares of the Company are listed

Mr.Pushpika Janadheera -Managing Director

with the Colombo Stock Exchange of Sri Lanka

Mr.Ng Soon Huat - ( Resigned w.e.f 18.01.2023)

Mr. Sarath Ganegoda

Mr. Faiz Mohideen

Mr. Sujeewa Rajapakse

REGISTERED OFFICE

Mr. Ramesh Nanayakkara

400, Deans Road, Colombo 10, Sri Lanka

Mr. Sujeewa Peiris

Telephone: 2627000

Mr.Gamini Gunaratne

Fax: 2699018 & 2699299

Mr.Indika Prasad

E-mail: postmast@dplgroup.com

Mr. Chandika Ratnasiri

Website: www.dplgroup.com

Mr.Giorgio Molinari

Ms. Brindhiini Perera

SUBSIDIARIES

Hand Protection

Palma Limited - liquidated on 14.11.2022 Venigros (Private) Limited

Texnil (Private) Limited - in the process of liquidation Feltex (Private) Limited

Dipped Products (Thailand) Limited ICOGUANTI S.p.A

Hanwella Rubber Products Limited D P L Premier Gloves Limited

D P L Universal Gloves Limited D P L International Limited DPL France SAS ROZENBAL POLSKA Sp. z o.o.

Plantations

D P L Plantations (Private) Limited

Kelani Valley Plantations PLC

Hayleys Plantation Services (Private) Limited

Talawakelle Tea Estates PLC

PRINCIPAL LINES OF BUSINESS

Manufacture and marketing of industrial, general purpose and medical rubber gloves, Management of tea and rubber plantations.

Page 2

DIPPED PRODUCTS PLC

STATEMENT OF PROFIT OR LOSS

Group

Group

Group

Audited

Unaudited

Unaudited

Increase/

Unaudited

Unaudited

Increase/

Year to

09 months to

09 months to

Increase/

03 months to

03 months to

Increase/

31/03/2022

31/12/2022

31/12/2021

(Decrease)

31/12/2022

31/12/2021

(Decrease)

Rs.'000

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

Revenue from contracts with

55,293,983

customers

61,581,013

42,743,545

44

19,586,955

12,730,290

54

(44,561,333)

Cost of sales

(47,318,492)

(34,387,146)

38

(15,328,969)

(10,421,358)

47

10,732,650

Gross profit

14,262,521

8,356,399

71

4,257,986

2,308,932

84

833,407

Other income and gains

531,279

372,755

43

328,400

110,949

>100

(1,402,795)

Distribution costs

(2,546,693)

(1,054,840)

>100

(985,878)

(390,433)

>100

(4,803,655)

Administrative expenses

(5,158,619)

(3,340,270)

54

(1,881,749)

(820,901)

>100

(706,458)

Finance costs

(881,835)

(600,994)

47

(133,805)

(189,384)

(29)

2,943,626

Finance income

2,629,174

475,630

>100

3,531

97,830

(96)

7,596,775

Profit / (loss) before tax

8,835,827

4,208,680

>100

1,588,485

1,116,993

42

(1,185,975)

Tax expense

(1,833,840)

(808,982)

>100

(666,446)

(189,814)

>100

Profit / (loss) for the period

>100

(1)

6,410,800

7,001,987

3,399,698

922,039

927,179

Attributable to :

5,382,651

Equity holders of the parent

5,703,330

3,018,151

89

827,422

811,015

2

1,028,149

Non-controlling interest

1,298,657

381,547

>100

94,617

116,164

(19)

Profit / (loss) for the period

>100

(1)

6,410,800

7,001,987

3,399,698

922,039

927,179

Basic earnings / (loss) per ordinary share

8.99

for the period (Rs.) *

9.53

5.04

1.38

1.35

Diluted earnings / (loss) per ordinary share

8.99

for the period (Rs.) *

9.53

5.04

1.38

1.35

2.50

Dividend per share (Rs)*

2.40

2.00

1.00

0.45

* Computed based on 598,615,120 ordinary shares on issue as at 31/12/2022

The notes to the financial statements on page 10 and 11 form an integral part of the financial statements.

The figures in brackets indicate deductions

Page 3

DIPPED PRODUCTS PLC

STATEMENT OF PROFIT OR LOSS

Company

Company

Company

Audited

Unaudited

Unaudited

Increase/

Unaudited

Unaudited

Increase/

Year to

09 months to

09 months to

Increase/

03 months to

03 months to

Increase/

31/03/2022

31/12/2022

31/12/2021 (Decrease)

31/12/2022

31/12/2021

(Decrease)

Rs.'000

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

6,610,277

(5,289,337)

1,320,940

1,455,815

(38,364)

(1,028,196)

(311,712)

1,644,069

3,042,552

(242,132)

2,800,420

4.68

4.68

2.50

Revenue from contracts with

customers

8,012,655

5,119,317

57

Cost of sales

(5,293,119)

(4,103,385)

29

Gross profit

2,719,536

1,015,932

>100

Other income and gains

2,722,308

1,133,311

>100

Distribution costs

(272,638)

(34,392)

>100

Administrative expenses

(980,364)

(667,449)

47

Finance costs

(414,859)

(216,825)

91

Finance income

1,398,737

214,010

>100

Profit / (loss) before tax

5,172,720

1,444,587

>100

Tax expense

(239,992)

(20,359)

>100

Profit / (loss) for the period

4,932,728

1,424,228

>100

Basic earnings / (loss) per ordinary share

for the period (Rs.) *

8.24

2.38

Diluted earnings / (loss) per ordinary share

for the period (Rs.) *

8.24

2.38

Dividend per share (Rs) *

2.40

2.00

2,492,295

1,556,822

60

(1,735,639)

(1,221,293)

42

756,656

335,529

>100

133,133

6,003

>100

(74,557)

(19,532)

>100

(353,864)

(222,463)

59

(32,685)

(89,712)

(64)

53,534

73,670

(27)

482,217

83,495

>100

171,719

7,852

>100

>100

653,936

91,347

1.090.15

1.090.15

1.000.45

* Computed based on 598,615,120 ordinary shares on issue as at 31/12/2022

The notes to the financial statements on page 10 and 11 form an integral part of the financial statements.

The figures in brackets indicate deductions

Group

Audited Year to 31/03/2022 Rs.'000

DIPPED PRODUCTS PLC

STATEMENTS OF COMPREHENSIVE INCOME

Group

Unaudited

Unaudited

Increase/

09 months to

09 months to

Increase/

31/12/2022

31/12/2021

(Decrease)

Rs.'000

Rs.'000

%

Page 4

Group

Unaudited

Unaudited

Increase/

03 months to

03 months to

Increase/

31/12/2022

31/12/2021

(Decrease)

Rs.'000

Rs.'000

%

6,410,800

2,276,284

40,589

3,055

32

128,028

(16,041)

2,431,947

8,842,747

7,756,719

1,086,028

8,842,747

Profit / (loss) for the period Other comprehensive income

Other comprehensive income to be reclassified to profit or loss in subsequent periods (net of tax)

Currency translation of foreign operations

Other comprehensive income not to be reclassified to profit or loss in subsequent periods (net of tax)

Actuarial gain/(loss) on defined benefit plans

Tax effect on actuarial gain/(loss)

Net gain/(loss) on equity instruments designated at Fair Value through OCI Revaluation of land

Tax effect on land revaluation

Other comprehensive income / (loss) for the period, net of tax

Total comprehensive income / (loss) for the period, net of tax

Attributable to :

Equity holders of the parent Non-controlling interest

Total comprehensive income / (loss) for the period, net of tax

7,001,987 3,399,698 >100

1,601,905

(276,180)

>100

-

-

-

-

(26)

116

>(100)

(27,542)

-

>100

1,574,337

(276,064)

>100

8,576,324

3,123,634

>100

7,274,163

2,744,824

>100

1,302,161

378,810

>100

8,576,324

3,123,634

>100

922,039

927,179

(1)

985,964 (365,958) >100

-

-

-

-

(29)

72

>(100)

(27,542)

-

>100

958,393

(365,886)

>100

1,880,432

561,293

>100

1,785,683

444,727

>100

94,749

116,566

(19)

1,880,432

561,293

>100

The notes to the financial statements on page 10 and 11 form an integral part of the financial statements. The figures in brackets indicate deductions

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Dipped Products plc published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 10:05:08 UTC.