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    HOPL.N0000   LK0252N00003

HORANA PLANTATIONS PLC

(HOPL.N0000)
  Report
End-of-day quote Colombo Stock Exchange  -  2023-01-26
63.80 LKR   -4.78%
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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.

  1. Statement of Profit or Loss and Other Comprehensive Income
  2. Statement of Financial Position
  3. Statement of Changes in Equity
  4. Statement of Cash Flows
  5. Notes to the Interim Financial Statements
  6. 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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

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.


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Financials
Sales 2022 2 564 M 7,04 M 7,04 M
Net income 2022 42,5 M 0,12 M 0,12 M
Net Debt 2022 2 027 M 5,56 M 5,56 M
P/E ratio 2022 12,9x
Yield 2022 -
Capitalization 1 595 M 4,38 M 4,38 M
EV / Sales 2021 1,19x
EV / Sales 2022 1,00x
Nbr of Employees 4 186
Free-Float 24,3%
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Income Statement Evolution
Managers and Directors
Johann A. Rodrigo Chief Executive Officer & Executive Director
Ajith Nissanka General Manager-Finance
Abeyakumar Mohan Pandithage Executive Chairman
Jayantha Wijesinghe Manager-Information Technology
Anthony Nishantha Wickremasinghe Independent Non-Executive Director
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