Lanka Tiles : TILE-Interim Financial Statements as at 31-12-2021

LANKA TILES PLC

Provisional Financial Statements

For the nine months ended 31st December 2021

LANKA TILES PLC

PROVISIONAL FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED 31ST DECEMBER 2021

STATEMENT OF FINANCIAL POSITION

As at

ASSETS

Non-current assets

Property, plant and equipment

Capital work-in-progress

Right of use assets

Intangible assets

Investment properties

Investment in subsidiary

Investment in associates

Current assets

Inventories

Receivables & prepayments Amounts due from related companies Cash & cash equivalents

Total assets

EQUITY AND LIABILITIES

Capital and reserves

Stated capital (Note 3)

Reserves

Shareholders' funds

Non controlling interest

Total Equity

Non-current liabilities

Lease liabilities

Interest bearing liabilities

Deferred tax liabilities

Retirement benefit obligations

Current liabilities

Lease liabilities

Trade & other payables

Contract liability

Amounts due to related companies

Current tax liabilities

Interest bearing liabilities

Bank overdrafts

Total liabilities

Total equity and liabilities

Adjusted net asset value per share (Rs.)

Group		Company
31.12.2021		31.03.2021	31.12.2021		31.03.2021
Unaudited		Audited	Unaudited		Audited
Rs.'000		Rs.'000	Rs.'000		Rs.'000
6,030,045		6,290,146	6,030,045		6,290,146
236,411		83,742	236,411		83,742
51,387		63,878	51,387		63,878
11,024		11,295	11,024		11,295
394,819		394,819	-		-
-		-	6,242		6,242
1,501,145		1,339,684	1,443,424		1,283,017
8,224,831		8,183,564	7,778,533		7,738,320
2,390,723		2,322,116	2,390,723		2,322,116
1,083,498		1,026,460	1,083,403		1,026,380
361,475		386,286	589,115		611,843
3,991,946		2,329,621	3,978,635		2,316,965
7,827,642		6,064,483	8,041,876		6,277,304
16,052,473		14,248,047	15,820,409		14,015,624
900,968		900,968	900,968		900,968
10,481,671		9,026,113	10,311,876		8,844,811
11,382,639		9,927,081	11,212,844		9,745,779
6,616		6,192	-		-
11,389,255		9,933,273	11,212,844		9,745,779
40,912		54,539	40,912		54,539
729,167		916,667	729,167		916,667
767,699		781,531	714,055		740,486
217,391		198,598	217,391		198,598
1,755,169		1,951,335	1,701,525		1,910,290
18,217		13,980	18,217		13,980
1,741,534		1,630,048	1,739,752		1,628,073
36,608		27,024	36,608		27,024
293,627		121,465	293,627		119,784
355,539		263,175	355,312		262,947
250,000		250,000	250,000		250,000
212,524		57,747	212,524		57,747
2,908,049		2,363,439	2,906,040		2,359,555
4,663,218		4,314,774	4,607,565		4,269,845
16,052,473		14,248,047	15,820,409		14,015,624
42.91		37.43	42.27		36.74

The notes to the financial statements on page 05 form an integral part of the financial statements.

The figures in brackets indicate deductions

It is certified that the interim financial statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007

-Sgd-

General Manager (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-
Director	Director
09th February 2022

Page 1

LANKA TILES PLC

PROVISIONAL FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED 31ST DECEMBER 2021

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Period ended

Export sales

Local sales

Gross sales (inclusive of tax)

Sales (net of tax)

Cost of sales

Gross profit

Other operating income

Distribution costs

Administrative expenses

Other operating expenses

Operating profit / (loss)

Net finance income / (cost)

Share of results of equity-accounted investees

Profit / (Loss) before taxation

Taxation

Profit / (Loss) after tax

Other comprehensive income

Exchange gain / (loss) arising on translation of foreign operations

Total comprehensive income for the year Profit attributable to:

Equity holders of the parent

Non Controlling Interest

Profit for the year

Total comprehensive income attributable to:

Equity holders of the parent

Non Controlling Interest

Total comprehensive income

Adjusted earnings per ordinary share-basic (Rs)

		Group					Company
31.12.2021	31.12.2020		31.12.2021	31.12.2020
Quarter	Nine Months	Quarter	Nine Months	Variance	Quarter	Nine Months	Quarter	Nine Months	Variance
Rs.'000	Rs.'000	Rs.'000	Rs.'000	%	Rs.'000	Rs.'000	Rs.'000	Rs.'000	%
148,418	526,173	172,079		251,371	109	148,418	526,173	172,079	251,371	109
4,377,351	10,798,799	4,541,337		9,140,482	18	4,377,351	10,798,799	4,541,337	9,140,482	18
4,525,769	11,324,972	4,713,416		9,391,853	21	4,525,769	11,324,972	4,713,416	9,391,853	21
4,203,237	10,527,738	4,377,573		8,717,800	21	4,203,237	10,527,738	4,377,573	8,717,800	21
(2,273,736)	(5,784,045)	(2,716,815)		(5,738,881)	1	(2,273,736)	(5,784,045)	(2,716,815)	(5,738,881)	1
1,929,501	4,743,693	1,660,758		2,978,919	59	1,929,501	4,743,693	1,660,758	2,978,919	59
5,049	15,070	7,785		18,389	(18)	4,621	13,655	7,335	17,115	(20)
(484,555)	(1,180,662)	(494,325)		(1,042,566)	13	(484,555)	(1,180,662)	(494,325)	(1,042,566)	13
(161,523)	(440,030)	(145,729)		(321,694)	37	(160,567)	(438,459)	(145,619)	(321,447)	36
-	-	-		(59,962)	(100)	-	-	-	(59,962)	(100)
1,288,472	3,138,071	1,028,489		1,573,086	99	1,289,000	3,138,227	1,028,149	1,572,059	100
24,629	27,297	(27,226)		(194,954)	(114)	24,629	27,297	(27,226)	(194,954)	(114)
158,873	282,499	65,205		137,264	106	157,892	281,445	65,205	137,264	105
1,471,974	3,447,867	1,066,468		1,515,396	128	1,471,521	3,446,969	1,066,128	1,514,369	128
(229,940)	(613,193)	(229,264)		(335,213)	83	(229,940)	(600,594)	(229,264)	(335,213)	79
1,242,034	2,834,674	837,204		1,180,183	140	1,241,581	2,846,375	836,864	1,179,156	141
250	618	151		289	114	-	-	-	-	-
1,242,284	2,835,292	837,355		1,180,472	140	1,241,581	2,846,375	836,864	1,179,156	141
1,242,079	2,834,553	837,164		1,180,084	140	1,241,581	2,846,375	836,864	1,179,156	141
(45)	121	40		99		-	-	-	-
1,242,034	2,834,674	837,204		1,180,183	140	1,241,581	2,846,375	836,864	1,179,156	141
1,242,206	2,834,868	837,241		1,180,232	140	1,241,581	2,846,375	836,864	1,179,156	141
78	424	114		240		-	-	-	-
1,242,284	2,835,292	837,355		1,180,472	140	1,241,581	2,846,375	836,864	1,179,156	141
4.68	10.69	3.16		4.45	140	4.68	10.73	3.15	4.45	141

The notes to the financial statements on page 05 form an integral part of the financial statements.

The figures in brackets indicate deductions

Page 2

LANKA TILES PLC

PROVISIONAL FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED 31ST DECEMBER 2021

STATEMENT OF CHANGES IN EQUITY

Group		Amalgamation	Revaluation	Exchange	Retained	Total	Non Controlling	Shareholders'
	Stated Capital
	Reserve	Reserve	Reserve	Earnings	Reserves	Interest	funds
	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance at 01st April 2020	900,968	460,151	730,515	70	5,781,070	6,971,806	5,769	7,878,543
Net profit / (loss) for the period	-	-	-	-	1,180,084	1,180,084	99	1,180,183
Other comprehensive income	-	-	-	147	-	148	141	289
Dividend for 2020/2021 (Interim 1)	-	-	-	-	(204,244)	(204,244)	-	(204,244)
Balance as at 31st December 2020	900,968	460,151	730,515	217	6,756,910	7,947,794	6,009	8,854,771
Balance at 01st April 2021	900,968	460,151	1,122,372	385	7,443,205	9,026,113	6,192	9,933,273
Net profit /(loss) for the period	-	-	-	-	2,834,553	2,834,553	121	2,834,674
Other comprehensive income	-	-	-	315	-	315	303	618
Dividend for 2020/2021 (Interim 3)	-	-	-	-	(583,554)	(583,554)	-	(583,554)
Dividend for 2021/2022 (Interim 1)	-				(795,756)	(795,756)	-	(795,756)
Balance as at 31st December 2021	900,968	460,151	1,122,372	700	8,898,448	10,481,671	6,616	11,389,255
Company	Stated Capital	Amalgamation	Revaluation	Exchange	Retained	Total	Non Controlling	Shareholders'
		Reserve	Reserve	Reserve	Earnings	Reserves	Interest	funds
	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance at 01st April 2020	900,968	460,151	730,515	-	5,606,252	6,796,919	-	7,697,887
Net profit / (loss) for the period	-	-	-	-	1,179,156	1,179,156	-	1,179,156
Other comprehensive income	-	-	-	-	-	-	-	-
Dividend for 2020/2021 (Interim 1)	-	-	-	-	(204,244)	(204,244)	-	(204,244)
Balance as at 31st December 2020	900,968	460,151	730,515	-	6,581,164	7,771,831	-	8,672,799
Balance at 01st April 2021	900,968	460,151	1,122,372	-	7,262,288	8,844,811	-	9,745,779
Net profit / (loss) for the period	-	-	-	-	2,846,375	2,846,375	-	2,846,375
Other comprehensive income	-	-	-	-	-	-	-	-
Dividend for 2020/2021 (Interim 3)	-	-	-	-	(583,554)	(583,554)	-	(583,554)
Dividend for 2021/2022 (Interim 1)				-	(795,756)	(795,756)		(795,756)
Balance as at 31st December 2021	900,968	460,151	1,122,372	-	8,729,353	10,311,876	-	11,212,844

The notes to the financial statements on page 05 form an integral part of the financial statements.

The figures in brackets indicate deductions

Page 3

LANKA TILES PLC

PROVISIONAL FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED 31ST DECEMBER 2021

CASH FLOW STATEMENT

Period ended

CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES

Profit before income tax

Adjustments for:

Depreciation on tangible fixed assets

Depreciation on lease assets

Amortization of intangible Assets

Net Finance (income) / cost

Provision for retirement benefit obligations

Exchange (Gain) / loss

Interest Expense on lease liability

Share of results of associate

Operating profit (loss) before working capital changes

Changes in working capital

(Increase)/Decrease in inventories (Increase)/Decrease in trade and other receivables (Increase)/Decrease in due from related parties Increase/(Decrease) in trade & other payables Increase/(Decrease) in due to related parties

Cash generated from operations

Finance income received / (cost paid)

Retirement benefit costs paid

Income tax paid

Net cash flows from/(used in) operating activities

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES

Acquisition of property,plant,equipment

Dividend received

Net cash flows from /(used in) investing activities

CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES

Dividend paid

Proceeds from borrowings

Repayment of borrowings

Payments of Lease rentals

Net cash flows from /(used in) financing activities

Net Increase/(Decrease) in cash and cash equivalents

Movement in cash and cash equivalents

Net foreign exchange difference arising on translation of foreign operations Cash and cash equivalents at the beginning of the period

Cash and cash equivalents at the end of the period

The notes to the financial statements on page 05 form an integral part of the financial statements. The figures in brackets indicate deductions

Group		Company
31.12.2021		31.12.2020	31.12.2021	31.12.2020
Unaudited		Unaudited	Unaudited	Unaudited
Rs.'000		Rs.'000	Rs.'000	Rs.'000
3,447,867		1,515,396	3,446,969	1,514,369
327,542		309,596	327,542	309,596
12,492		28,217	12,492	28,217
2,446		2,052	2,446	2,052
(36,901)		208,558	(36,901)	208,558
26,999		13,617	26,999	13,617
9,604		(5,395)	9,604	(5,395)
5,798		8,208	5,798	8,208
(282,499)		(137,264)	(281,445)	(137,264)
3,513,348		1,942,985	3,513,504	1,941,958
(68,607)		2,290,175	(68,606)	2,290,175
(57,038)		(420,692)	(57,023)	(420,680)
24,811		186,182	22,728	186,848
111,464		231,319	(154,946)	231,423
172,162		92,193	440,448	92,250
3,696,140		4,322,162	3,696,105	4,321,974
36,901		(200,349)	36,901	(200,349)
(8,206)		(11,643)	(8,206)	(11,643)
(534,660)		(46,160)	(534,660)	(46,160)
3,190,175		4,064,010	3,190,140	4,063,822
(222,287)		(264,504)	(222,287)	(264,504)
121,037		32,385	121,037	32,385
(101,250)		(232,119)	(101,250)	(232,119)
(1,379,310)		(204,245)	(1,379,310)	(204,245)
50,000		1,172,021	50,000	1,172,021
(237,500)		(2,650,595)	(237,500)	(2,650,595)
(15,186)		(41,163)	(15,186)	(41,163)
(1,581,996)		(1,723,982)	(1,581,996)	(1,723,982)
1,506,929		2,107,909	1,506,894	2,107,721
618		289	-	-
2,271,874		(726,732)	2,259,217	(738,520)
3,779,422		1,381,466	3,766,111	1,369,201

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