Hayleys Fabric : Quarterly Financial Statements as of 31.12.2021

Hayleys Fabric PLC

Interim Report

Third quarter

Nine months ended 31st December 2021

	2
Corporate Information
Name of Company	Secretaries
Hayleys Fabric PLC	Hayleys Group Services (Pvt) Ltd.
	400, Deans Road, Colombo 10.
Legal Form	Telephone: [phone]/53
A Quoted Public Company with Limited Liability
(Incorporated in Sri Lanka in 1993 )	Registered Office
	400, Deans Road ,
Company Registration Number	Colombo 10.
PQ 37.	Telephone: [phone]
	Website: www.hayleysfabric.com
Stock Exchange Listing
The ordinary shares of the Company are listed on Main Board of	Main Office & Factory
Colombo Stock Exchange of Sri Lanka	Narthupana Estate , Neboda.
	Telephone: [phone]
Accounting year end
31st March	Bankers
	Standard Chartered Bank plc
Principal Activity	Hongkong and Shanghai Banking Corporation
Manufacturing of knitted fabric	Hatton National Bank PLC
	Bank of Ceylon
Directors	National Development Bank PLC
A.M.Pandithage - Chairman	Sampath Bank PLC
E.R.P. Goonetilleke - Managing Director	Deutsche Bank AG
K.D.D.Perera	Citibank, N.A.
S.C.Ganegoda	Seylan Bank PLC
H.Somashantha	Pan Asia Banking Corporation PLC
R.N.Somaratne	People's Bank
Dr. N.S.J. Nawaratne	DFCC Bank
A.S.Jayatilleka	Union Bank of Colombo PLC
I.B.R.R. Bandara	Nations Trust Bank
M.H Jayasinghe
Mr. K.P.C.P.K.Pathirana	Auditors
Ms.Yogadinusha Bhaskaran (Alternative Director to K.D.D.Perera)	Ernst & Young
	Chartered Accountants,
Subsidiaries	201, De Saram Place,
South Asia Textiles Ltd.	Colombo 10.

Hayleys Fabric PLC - Interim Report 3rd Quarter ended 31st December 2021

3

Investor Information

Market value of shares	31.12.2021	31.12.2020
	(LKR)	(LKR)
Last traded price	41.00	27.80
Highest price recorded for three months ending	45.50	28.40
Lowest price recorded for three months ending	31.70	21.00
Highest price recorded for nine months ending	45.50	28.40
Lowest price recorded for nine months ending	14.10	7.00
Share Trading
No. of transactions	86,917	46,864
No. of shares traded	381,715,350	270,063,776
Value of shares traded (LKR)	10,790,441,584	5,550,374,067
First twenty Shareholders as at 31.12.2021
Name of Shareholder	No. of Shares	%
Hayleys PLC No 3 Share Investment Account	244,974,046	58.96
Employees Provident Fund	11,081,454	2.67
Hayleys Advantis Limited	10,073,700	2.42
Mr. Shanthikumar Nimal Placidus Palihena & Mrs A.S.Palihena	10,000,000	2.41
Hayleys Agriculture Holdings Limited	6,944,514	1.67
Amana Bank PLC/ HI- Line Trading Pvt Ltd	3,576,776	0.86
Employees Trust Fund Board	3,495,493	0.84
Mrs. Swyrie Balendra	3,160,441	0.76
Deutsche Bank AG - National Equity Fund	2,796,366	0.67
Mr. Kandiah Balendra and Mrs. S Balendra	2,739,839	0.66
Seylan Bank PLC/ Capital Trust Holdings Ltd	2,656,644	0.64
Mr. Pasqual Handi Dayananda Waidyatilaka	2,190,004	0.53
People's Leasing & Finance PLC / Mr. B.M.Kumarasena	2,188,341	0.53
Union Assurance PLC- Universal Life Fund	2,064,836	0.50
DFCC Bank PLC A/C 1	2,000,000	0.48
Insite Holdings Private Ltd	1,800,000	0.43
Hatton National Bank PLC- NDB Wealth Growth and Income Fund	1,500,000	0.36
J.B. Cocoshell (Pvt) Ltd	1,407,179	0.34
Sam Innovators (Pvt) Ltd.	1,394,628	0.34
Bank of Ceylon No. 1 Account	1,390,612	0.33
Total	317,434,873	76.40

The percentage of shares held by public as at 31st December 2021 was 36.79%

Number of shareholders representing the public holding as at 31st December 2021 was 6,745

Float adjusted Market Capitalization as at 31st December 2021 was LKR 6,297.66Mn.

The Company complies with option 3 of the Listing Rules 7.13.1(a)which requires a minimum Public Holding of 7.5%.

DIRECTORS' SHAREHOLDING AS AT 31.12.2021
	Direct holding
Director	No. of Shares
*Mr.K.D.D.Perera	8,180
Mr.S.C Ganegoda	525,000
Mr.H.Somashantha	40,000
Mr. M.W.R.N. Somaratne	40,000
Mr.I.B.R.R. Bandara	20,000
Mr.K.P.C.P.K.Pathirana	2,000

• Mr.K.D.D.Perera holds 51.01 % directly and indirectly of the total issued shares of Hayleys PLC which has 244,974,046 shares in Hayleys Fabric PLC.

		31.12.2021	31.03.2021
Balance at beginning of the year		415,481,776	207,740,888
Sub-division		-	207,740,888
Balance at the end of the period/year		415,481,776	415,481,776
Net assets per share -	USD	0.06	0.05
LKR	11.89	10.17
Dividend per share	LKR	0.90	0.60

Hayleys Fabric PLC - Interim Report 3rd Quarter ended 31st December 2021

4

Hayleys Fabric PLC

STATEMENT OF FINANCIAL POSITION

Company		Group		Company
Audited		Unaudited		Unaudited	Unaudited
As at 31.03.21		As at 31.12.21		As at 31.12.21	As at 31.12.20
USD		USD		USD	USD
	ASSETS
	Non-Current Assets
28,716,822	Property, plant and equipment	41,598,116		29,243,700	27,181,327
190,336	Right of use assets	298,617		201,365	191,962
74,446	Intangible assets	384,071		64,134	86,107
-	Goodwill	12,107,787		-	-
-	Other Investments	1,459,039		-	-
-	Investment in Subsidiary	-		19,972,452	-
28,981,604		55,847,630		49,481,651	27,459,396
	Current Assets
16,569,882	Inventories	37,580,907		21,039,976	14,618,440
7,871,611	Trade receivables	16,959,985		10,732,394	10,175,023
559,972	Other receivables	2,375,727		349,287	455,736
762,955	Advances and prepayments	2,471,861		877,483	867,787
-	Other Investments - Current	226,896		-	-
3,199,138	Cash and cash equivalents	9,249,723		4,475,108	3,396,834
28,963,558		68,865,099		37,474,248	29,513,820
57,945,162	Total Assets	124,712,729		86,955,899	56,973,216
	EQUITY AND LIABILITIES
	Capital and Reserves
17,561,761	Stated capital	17,561,761		17,561,761	17,561,761
1,415,280	Revaluation reserve	1,415,280		1,415,280	1,415,280
1,948,841	Retained earnings	5,351,042		4,040,167	1,671,088
20,925,882	Total equity attributable to equity holders of the company	24,328,083		23,017,208	20,648,129
-	Non-controlling interest	-		-	-
20,925,882	Total equity	24,328,083		23,017,208	20,648,129
	Non-Current Liabilities
3,294,358	Interest bearing loans and borrowings	16,074,430		14,330,509	2,250,178
106,186	Right of use assets- Lease obligations	249,176		115,855	107,963
2,079,267	Deferred tax liabilities	2,819,669		1,996,416	2,158,702
3,020,473	Retirement benefit obligations	4,024,693		3,297,227	3,083,013
8,500,284		23,167,967		19,740,007	7,599,856
	Current Liabilities
13,851,517	Trade and other payables	34,114,031		18,554,646	16,358,291
-	Bank overdraft	1,124,034		258,052	198,410
12,134,529	Interest bearing loans and borrowings	28,333,603		15,940,392	10,903,890
1,024,929	Current portion of long term interest bearing borrowing	4,830,050		4,236,064	686,729
8,470	Current portion of Right of use assets- Lease obligations	30,098		9,174	1,364
71,869	Amounts due to Hayleys PLC	554,004		553,138	74,588
1,427,682	Other non financial liabilities	8,230,859		4,647,218	501,959
28,518,996		77,216,679		44,198,684	28,725,231
57,945,162	Total Equity and Liabilities	124,712,729		86,955,899	56,973,216

The Statement of Financial Position as at 31st December 2021 and Statements of Profit or Loss and other Comprehensive Income, Changes in Equity and Cash Flow for nine months then ended as well as Statements of Profit or Loss and other Comprehensive Income for three months then ended are drawn up from the unaudited financial statements of the Company, it's subsidiary and they provide the information required by the Colombo Stock Exchange.

These financial statements are in compliance with the requirements of the Companies Act No.07 of 2007.

Sgd.

………………………………….

Ruwan Rohitha Bandara

Director- Finance

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.M.Pandithage	E.R.P.Goonetilleke
Chairman	Managing Director
Colombo
7th February 2022

Hayleys Fabric PLC - Interim Report 3rd Quarter ended 31st December 2021

5

Hayleys Fabric PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	Group	Group
	Unaudited	Unaudited
	9 months ended	3 months ended
	31st December	31st December
	2021	2021
	USD	USD
Revenue from contracts with customers	110,812,791	41,826,038
Cost of sales	(96,246,287)	(36,253,105)
Gross Profit	14,566,504	5,572,933
Other operating income	825,520	307,269
Administrative expenses	(7,061,654)	(2,435,400)
Distribution expenses	(1,166,129)	(605,219)
Net financing costs	(1,357,931)	(732,587)
Profit before tax	5,806,310	2,106,996
Income tax expense	(422,498)	(150,819)
Profit for the period	5,383,812	1,956,177
Profit for the period attributable to:
Owners of the parent	5,383,812	1,956,177
Non-controlling interest	-	-
Profit for the period	5,383,812	1,956,177
Other Comprehensive Income not to be reclassified to profit or loss
Actuarial loss on defined benefit plans	-	-
Income tax effect on actuarial loss on defined benefit plans	-	-
Total Comprehensive Income, Net of Tax	5,383,812	1,956,177
Basic / Diluted Earnings per Share	0.013	0.005

Hayleys Fabric PLC - Interim Report 3rd Quarter ended 31st December 2021