Horana Plantations : Interim Financial Statements as at 30-06-2022

08/12/2022 | 03:40am EST

HORANA PLANTATIONS PLC

(Company Number : PQ 126)

INTERIM FINANCIAL STATEMENTS

For the Three (03) Months Ended

30-Jun-2022

Registered Office - No.400, Deans Road, P.O.Box 2042, Colombo 10, Sri Lanka

# Tel: 011 2627000 # Facsimile: 011 2627323 # E-mail: horanap@hplnet.com # Web: www.horanaplantations.com

Horana Plantations PLC

Interim Financial Statements

For the Three (03) Months Ended 30th June 2022

Contents

Page No.

Statement of Profit or Loss and Other Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Interim Financial Statements
Notes to the Interim Financial Statements (Contd…)

Page 1

Horana Plantations PLC

Statement of Profit or Loss and Other Comprehensive Income

For the Three (03) Months Ended 30th June 2022


Year Ended		Three (03) Months Ended
31-Mar		30-Jun		30-Jun	Change
2022		2022	2021
(Audited)
Rs' 000		Rs' 000		Rs' 000	%
2,563,636	Revenue	890,254	593,638	49.97
(2,192,626)	Cost of Sales	(627,267)	(510,421)	(22.89)

371,010	Gross Profit	262,987	83,217	216.03
7,564	Other Operating Income	1,923	1,883	2.10
31,464	Change in Fair Value of Biological Assets	8,837	5,803	52.29
(185,153)	Administrative Expenses	(64,536)	(42,166)	(53.05)
(16,200)	Management Fees	(4,050)	(4,050)	-

208,685	Profit from Operations	205,161	44,687	359.11
(140,363)	Net Finance Expense	(73,691)	(32,510)	(126.67)

68,322	Profit before Taxation	131,470	12,177	979.70
(25,868)	Tax Expense	(1,599)	(1,593)	(0.39)

42,454	Profit for the period	129,870	10,584	1,127.10
	Other Comprehensive Income:-
6,547	Actuarial Gain on Retirement Benefit	-	-	-
	Obligations
(687)	Tax expense on Other Comprehensive Income	-	-	-

5,860	Other Comprehensive Income for the	-	-	-
period, net of Tax


	Total Comprehensive Income for the
48,314	period	129,870	10,584	1,127.10
1.70	Basic Earnings per Share (Rs.)	5.19	0.42	1,127.10
-	Dividend per Share (Rs.)	-	-	-

				Page 2
	Horana Plantations PLC

	Statement of Financial Position
	As at 30th June 2022

As at		As at
31-Mar		30-Jun	30-Jun
2022		2022		2021
(Audited)
Rs' 000		Rs' 000	Rs' 000
	ASSETS
	Non-Current Assets
194,693	Right of Use Assets	188,580		208,042
2,172,955	Bearer Biological Assets	2,165,224		2,144,358
595,643	Consumable Biological Assets	596,569		622,958
442,750	Property, Plant & Equipment	442,737		356,119
3,406,041	Total Non-Current Assets	3,393,110		3,331,477
	Current Assets
8,129	Non-Harvested Produce on Bearer Biological Assets	8,837		5,803
350,398	Inventories	476,322		358,486
17,586	Advance Company Tax (ACT) Recoverable	15,988		19,185
137,620	Trade and Other Receivables	151,301		133,529
-	Holding Company Receivable	-		1,303
6,170	Other Related Company Receivables	21,466		8,609
38,261	Cash and Cash Equivalents	50,893		25,360
558,164	Total Current Assets	724,808		552,275
3,964,205	Total Assets	4,117,918		3,883,752
	EQUITY & LIABILITIES
	Equity
250,000	Stated Capital	250,000		250,000
546,124	Retained Earnings	675,994		508,393
796,124	Total Equity	925,994		758,393
	Non-Current Liabilities
796,364	Interest Bearing Loans & Borrowings	1,082,467		980,447
181,691	Lease Liabilities	178,810		184,124
483,611	Retirement Benefit Obligations	486,916		548,359
113,324	Deferred Income	111,702		117,113
129,110	Deferred Tax Liability	129,110		110,527
1,704,100	Total Non-Current Liabilities	1,989,005		1,940,570
	Current Liabilities
291,547	Trade and Other Payables	379,558		279,709
55,896	Related Companies Payables	45,850		21,486
404,069	Interest Bearing Loans & Borrowings	439,979		398,132
10,314	Lease Liabilities	10,192		9,595
702,154	Short Term Borrowings	327,340		475,867
1,463,981	Total Current Liabilities	1,202,919		1,184,789
3,168,081	Total Liabilities	3,191,924		3,125,359
3,964,205	Total Equity & Liabilities	4,117,918		3,883,752
31.84	Net Assets per Ordinary Share (Rs.)	37.04		30.34

The Statement of Financial Position as at 30th June 2022 and the Statement of Profit or Loss, Statement of Comprehensive Income , the

Statement of Changes in Equity and Cash Flow Statement for the period ended 30th June 2022 are drawn up from the unaudited Financial Statements of the Company, provide the information required by the Colombo Stock Exchange.

It is certified that these Financial Statements have been prepared in compliance with the requirements of the Companies Act No.7 of 2007.

(Sgd) Ajith Nissanka

General Manager - Finance

Signed for and on behalf of the Board of Directors of Horana Plantations PLC:-

(Sgd) A.M.Pandithage	(Sgd.) Dr. Roshan Rajadurai
Chairman	Managing Director
12th August 2022

Page 3

Horana Plantations PLC

Statement of Changes in Equity

For the Three (03) Months Ended 30th June 2022

(Stated Capital comprised - 25 Million Ordinary	Stated	Retained	Total
Shares and 1 Golden Share)	Capital	Earnings

	Rs'000	Rs'000	Rs'000
Three (03) Months Ended 30th June 2021:-
Balance as at 1st April 2021	250,000	497,810	747,810
Comprehensive Income for the period
Profit for the period	-	10,583	10,583
Total Comprehensive Income for the period	-	10,583	10,583
Balance as at 30th June 2021	250,000	508,393	758,393
Three (03) Months Ended 30th June 2022:-
Balance as at 1st April 2022	250,000	546,124	796,124
Comprehensive Income for the period
Profit for the period	-	129,870	129,870
Total Comprehensive Income for the period	-	129,870	129,870
Balance as at 30th June 2022	250,000	675,994	925,994

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Horana Plantations plc published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 07:39:03 UTC.

HORANA PLANTATIONS PLC

Horana Plantations : Interim Financial Statements as at 30-06-2022

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