KELANI TYRES PLC KELANI TYRES PLC
(Reg: No. PQ 123)
INTERIM FINANCIAL STATEMENTS
FOR NINE MONTHS ENDED DECEMBER 31, 2022
Corporate Office
203, Union Place
Colombo 02.
KELANI TYRES PLC AND ITS GROUP
CONSOLIDATED STATEMENT OF
COMPREHENSIVE INCOME
(all amounts in Sri Lankan Rupees thousands)
Group | Company | Group | Company | ||||||||
Apr. -Dec | Apr. - Dec. | Oct. -Dec. | Oct. - Dec. | ||||||||
2022 | 2021 | 2022 | 2021 | 2022 | 2021 | 2022 | 2021 | ||||
(Un audited) | (Audited) | (Un audited) | (Audited) | ||||||||
Revenue | |||||||||||
640 | 197,987 | - | 197,380 | 212 | 6,366 | - | 6,165 | ||||
Direct costs | (292) | (184,968) | - | (184,312) | - | (5,825) | - | (5,606) | |||
Gross margin | |||||||||||
348 | 13,019 | - | 13,068 | 212 | 541 | - | 559 | ||||
Other operating income | 5,165 | 5,350 | 865,165 | 585,850 | 1,752 | 1,711 | 1,752 | 152,210 | |||
Administrative costs | (69,014) | (58,002) | (68,912) | (57,897) | (9,882) | (8,381) | (9,791) | (8,289) | |||
Management Expenses | (41,667) | (36,589) | (41,667) | (36,589) | (18,311) | (16,076) | (18,311) | (16,076) | |||
Depriciation | (13,404) | (13,083) | (13,404) | (13,083) | (4,551) | (4,363) | (4,551) | (4,363) | |||
Operating profit | |||||||||||
(118,572) | (89,305) | 741,181 | 491,349 | (30,780) | (26,569) | (30,901) | 124,041 | ||||
Finance Income | 79,401 | 17,236 | 79,401 | 17,236 | 51,668 | 5,288 | 51,668 | 5,289 | |||
Finance costs | (14,904) | (5,073) | (14,904) | (5,073) | (5,051) | (1,810) | (5,051) | (1,810) | |||
Profit/(Loss) before tax | |||||||||||
(54,075) | (77,142) | 805,678 | 503,512 | 15,837 | (23,091) | 15,716 | 127,520 | ||||
Tax | - | - | - | - | - | - | - | - | |||
Profit/(Loss) after tax | |||||||||||
(54,075) | (77,142) | 805,678 | 503,512 | 15,837 | (23,091) | 15,716 | 127,520 | ||||
Share of results of JV | 116,578 | 606,227 | - | - | (229,936) | 253,375 | - | - | |||
Profit/(Loss) for the period | |||||||||||
62,503 | 529,085 | 805,678 | 503,512 | (214,099) | 230,284 | 15,716 | 127,520 | ||||
Other comprehensive income: | - | - | - | - | - | - | - | - | |||
Share of other comprehensive - | (8,194) | (2,032) | - | - | (1,997) | (700) | - | - | |||
-Income/expenses from Joint Venture | |||||||||||
Total comprehensive income - | |||||||||||
-for the period, net of tax | 54,309 | 527,054 | 805,678 | 503,512 | (216,097) | 229,585 | 15,716 | 127,520 | |||
Earning per share (for the period) | 0.78 | 6.58 | 10.02 | 6.26 | (2.66) | 2.86 | 0.20 | 1.59 | |||
KELANI TYRES PLC AND ITS GROUP
CONSOLIDATED STATEMENT OF FINANCIAL POSSITION
(all amounts in Sri Lankan Rupees thousands)
ASSETS
Non-current assets
Property, plant and equipment
Investment Property
Investments in subsidiaries
Investment in JV
Current assets
Trade and other receivables Income Tax Refund
Financial assets at fair value through profit or loss Cash and cash equivalents
Total assets
EQUITY AND LIABILITIES
Equity attributable to equity holders
Stated capital
Revaluation reserves
Other reserves
Retained earnings
Total equity
Non - current liabilities
Borrowings
Retirement benefit obligations
Current liabilities
Trade and other payables
Borrowings
Bank Overdraft
Total liabilities
Total equity and liabilities
Net Asset Value Per share
Group | |
31-12-2022 | 31-03-2022 |
(un-audited) | (audited) |
30,245 | 38,118 |
559,500 | 559,500 |
- | - |
4,539,589 | 5,291,205 |
5,129,334 | 5,888,822 |
285,270 | 430,615 |
4,315 | 4,315 |
242,875 | 242,875 |
542,594 | 101,412 |
1,075,053 | 779,217 |
6,204,387 | 6,668,038 |
402,000 402,000
24,69124,691
801,127 801,127
4,834,216 5,181,907
6,062,034 6,409,726
833833
5,6767,265
6,5098,098
53,124 152,611
2,50010,000
80,22087,603
135,844 250,214
142,353 258,312
6,204,387 6,668,038
75.40 79.72
Company
31-12-202231-03-2022
(un-audited) (audited)
32,81040,391
559,500559,500
1010
139,607139,607
731,927 | 739,508 |
285,057 | 430,416 |
3,712 | 3,712 |
242,875 | 242,875 |
539,067 | 98,134 |
1,070,711 | 775,137 |
1,802,639 | 1,514,645 |
402,000 | 402,000 |
24,691 | 24,691 |
- | - |
1,233,437 | 829,759 |
1,660,128 | 1,256,450 |
833 | 833 |
5,676 | 7,265 |
6,509 | 8,098 |
53,281 | 152,495 |
2,500 | 10,000 |
80,220 | 87,603 |
136,001 | 250,098 |
142,510 | 258,196 |
1,802,639 | 1,514,645 |
20.6515.63
I certify that these financial statements have been prepared in compliance with requirements of the Companies Act, No. 07 of 2007.
Sgd
P. R. Mann
Finance Officer
The Board of Directors is responsible for the preparation and presentation of these Financial statements.
Sgd | Sgd |
Rohan T. Fernando | (Mrs). S. S Jayatilaka |
Managing Director | Director |
24th January 2023 |
KELANI TYRES PL AND ITS GROUP
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
(all amounts in Sri Lanka Rupees Thousands) | ||||||
Company | ||||||
Stated | Revaluation | Other | Retained | |||
capital | Reserve | Reserve | Earnings | Total | ||
Balance at 1 April 2021 (audited) | 402,000 | 24,691 | - | 666,072 | 1,092,763 | |
Profit for the Period | - | - | - | 503,512 | 503,512 | |
Dividend paid | - | - | - | (402,000) | (402,000) | |
Balance at 31st Dec. 2021 (audited) | 402,000 | 24,691 | - | 767,584 | 1,194,275 | |
Balance at 1 April 2022 (audited) | 402,000 | 24,691 | - | 829,759 | 1,256,450 | |
Profit for the Period | - | -‐ | -‐ | 805,678 | 805,678 | |
Dividend paid | - | - | - | (402,000) | (402,000) | |
Balance at 31st Dec. 2022 (Un-audited) | 402,000 | 24,691 | - | 1,233,437 | 1,660,128 | |
KELANI TYRES PL AND ITS GROUP | ||||||
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | ||||||
(all amounts in Sri Lanka Rupees Thousands) | ||||||
Group | ||||||
Stated | Revaluation | Other | Retained | |||
capital | Reserve | Reserve | Earnings | Total | ||
Balance at 1 April 2021 (audited) | 402,000 | 24,691 | 801,127 | 4,762,085 | 5,989,904 | |
Profit for the Period | - | - | - | 529,085 | 529,085 | |
Other comprehensive income | - | - | - | (2,032) | (2,032) | |
Dividend paid | - | - | - | (402,000) | (402,000) | |
Balance at 31st Dec. 2021 (audited) | 402,000 | 24,691 | 801,127 | 4,887,139 | 6,114,958 | |
Balance at 1 April 2022 (audited) | 402,000 | 24,691 | 801,127 | 5,181,907 | 6,409,726 | |
Profit for the Period | - | - | 62,503 | 62,503 | ||
Other comprehensive income | - | - | - | (8,194) | (8,194) | |
Dividend paid | - | - | - | (402,000) | (402,000) | |
Balance at 31st Dec. 2022 (Un-audited) | 402,000 | 24,691 | 801,127 | 4,834,216 | 6,062,034 |
KELANI TYRES PLC AND ITS GROUP
Cash flow statement
(all amounts in Sri Lankan Rupees thousands)
Nine months ended | Nine months ended | |||
31st Dec. 2022 | 31st Dec. 2021 | |||
Group | Company | Group | Company | |
Cash flows from operating activities | ||||
Cash generated from (used in) operations | (59,020) | (59,269) | (213,411) | (213,781) |
Interest received | 79,401 | 79,401 | 17,236 | 17,236 |
Interest paid | (14,904) | (14,904) | (5,073) | (5,073) |
Gratuity paid | (1,589) | (1,589) | (404) | (404) |
Net cash generated from (used in) operating activities | 3,888 | 3,639 | (201,652) | (202,023) |
Cash flows from investing activities | ||||
Purchases of property, plant and equipment | (5,823) | (5,823) | (343) | (343) |
Dividend received | 860,000 | 860,000 | 580,500 | 580,500 |
Net cash (used in)/generated from investing activities | 854,177 | 854,177 | 580,157 | 580,157 |
Cash flows from financing activities | ||||
Dividend payment | (402,000) | (402,000) | (402,000) | (402,000) |
Change in Bank borrowings | (7,500) | (7,500) | (7,500) | (7,500) |
Net cash (used in)generated from financing activities | (409,500) | (409,500) | (409,500) | (409,500) |
Net (decrease)/increase in cash and cash equivalents | 448,565 | 448,316 | (30,995) | (31,366) |
Movement in cash and cash equivalents | ||||
At the start of period | 13,809 | 10,532 | 339,217 | 336,239 |
(Decrease)/increase | 448,565 | 448,316 | (30,995) | (31,366) |
At the end of period | ||||
462,374 | 458,847 | 308,221 | 304,873 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Kelani Tyres plc published this content on 27 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 January 2023 10:55:07 UTC.
