Lanka Walltiles PLC
Provisional Financial Statements
For the Three months ended 30th June 2022
Lanka Walltiles PLC
Provisional Financial Statements
For the three months ended 30th June 2022
Statement of Financial Position
As at
ASSETS
Non-current assets
Property, plant & equipment
Consumable biological assets
Investment properties
Intangible assets
Investments in subsidiaries
Investments in associates
Right of use assets
Total non-current assets
Current assets
Inventories
Trade and other receivables Contract assets
Amounts due from related parties Income tax receivable
Short term investments Cash and cash equivalents Total current assets
Total assets
EQUITY AND LIABILITIES
Stated capital
Reserves
Retained earnings
Shareholders' funds
Non controlling interest
Total equity
Non-current liabilities
Interest bearing liabilities Deferred tax liabilities Retirement benefit liability Deferred income & capital grants Total non-current liabilities
Current liabilities
Trade and other payables Contract liability Income tax liabilities Amounts due to related parties
Current portion of interest bearing liabilities Total current liabilities
Total equity and liabilities
Net Assets Value Per Share ( Rs.)
GROUP | COMPANY | |||
30.06.2022 | 31.03.2022 | 30.06.2022 | 31.03.2022 | |
(Unaudited) | (Adjusted) | (Unaudited) | (Adjusted) | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
18,882,900 | 18,973,756 | 4,914,963 | 4,950,952 | |
596,569 | 595,643 | - | - | |
813,619 | 813,619 | - | - | |
55,728 | 57,721 | - | - | |
- | - | 1,562,096 | 1,562,096 | |
178,775 | 177,920 | - | - | |
303,890 | 309,436 | 39,308 | 45,658 | |
20,831,481 | 20,928,095 | 6,516,367 | 6,558,706 | |
13,697,628 | 8,388,233 | 2,220,975 | 1,479,947 | |
9,860,789 | 6,767,705 | 1,651,378 | 792,407 | |
36,152 | 29,342 | - | - | |
44,958 | 52,533 | 61,149 | 119,378 | |
85,016 | 17,586 | - | - | |
4,040 | 4,008 | 4,040 | 4,008 | |
5,656,050 | 7,346,071 | 809,681 | 1,029,771 | |
29,384,633 | 22,605,478 | 4,747,224 | 3,425,511 | |
50,216,114 | 43,533,573 | 11,263,590 | 9,984,217 | |
787,765 | 787,765 | 787,765 | 787,765 | |
3,536,480 | 3,536,480 | 2,057,891 | 2,057,891 | |
13,689,262 | 12,802,729 | 4,374,030 | 4,342,355 | |
18,013,507 | 17,126,974 | 7,219,686 | 7,188,011 | |
5,595,756 | 5,441,659 | - | - | |
23,609,263 | 22,568,634 | 7,219,686 | 7,188,011 | |
2,594,842 | 2,363,591 | 7,339 | 6,586 | |
2,014,912 | 1,996,380 | 627,412 | 628,461 | |
938,693 | 912,379 | 129,234 | 123,617 | |
111,702 | 113,324 | - | - | |
5,660,149 | 5,385,674 | 763,985 | 758,664 | |
7,916,490 | 5,526,697 | 1,509,461 | 1,094,960 | |
294,792 | 113,660 | 90,204 | 19,591 | |
1,460,711 | 1,660,751 | 442,046 | 616,199 | |
151,169 | 121,365 | 131,962 | 20,784 | |
11,123,540 | 8,156,793 | 1,106,247 | 286,008 | |
20,946,702 | 15,579,265 | 3,279,919 | 2,037,542 | |
50,216,114 | 43,533,573 | 11,263,590 | 9,984,217 | |
65.98 | 62.74 | 26.45 | 26.33 |
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.7 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 |
Chairman | Managing Director |
August 09, 2022 | |
Page-01 |
Lanka Walltiles PLC
Provisional Financial Statements
For the three months ended 30th June 2022
Statement of Comprehensive Income
GROUP | COMPANY | ||||||
Quarter | Quarter | ||||||
Period ended | 30.06.2022 | 30.06.2021 | Variance | 30.06.2022 | 30.06.2021 | Variance | |
Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | ||
Revenue | 11,482,026 | 7,215,574 | 59.1 | 1,795,818 | 1,389,104 | 29.3 | |
Cost of sales | (6,967,714) | (4,941,950) | (41.0) | (1,084,111) | (863,277) | (25.6) | |
Gross profit | 4,514,311 | 2,273,624 | 98.6 | 711,707 | 525,827 | 35.3 | |
Other income | 461,062 | 50,822 | 807.2 | 570,452 | 486,128 | 17.3 | |
Other operating expenses | - | - | - | - | - | - | |
Distribution cost | (970,636) | (616,448) | (57.5) | (227,757) | (181,328) | (25.6) | |
Administrative expenses | (518,004) | (368,031) | (40.8) | (83,801) | (57,618) | (45.4) | |
Finance income | 142,570 | 28,366 | 402.6 | 3,123 | 277 | 1,025.8 | |
Finance cost | (996,084) | (134,924) | (638.3) | (23,991) | (5,461) | (339.3) | |
Share of net profit of associate | 855 | 185 | - | - | - | - | |
Profit/(Loss) before tax | 2,634,074 | 1,233,594 | 113.5 | 949,734 | 767,825 | 23.7 | |
Income tax expense | (597,757) | (318,784) | (87.5) | (126,359) | (109,112) | (15.8) | |
Profit/(Loss) for the period | 2,036,317 | 914,810 | 122.6 | 823,375 | 658,713 | 25.0 | |
Other comprehensive income/(loss) | |||||||
Actuarial Gain/ (Loss) on retirement benefit liability | - | - | - | - | - | - | |
Deferred tax release on components of other comprehensive income | - | - | - | - | - | - | |
Foreign currency translation differences of foreign operations | 6,348 | 472 | - | - | - | - | |
Total comprehensive income/(loss) for the period | 2,042,664 | 915,282 | 123.2 | 823,375 | 658,713 | 25.0 | |
Profit/(Loss) attributable to: | |||||||
Equity holders of Lanka Walltiles PLC | 1,657,310 | 683,034 | 142.6 | 823,375 | 658,713 | 25.0 | |
Non controlling interest | 379,007 | 231,776 | 63.5 | - | - | - | |
Profit/(Loss) for the period | 2,036,317 | 914,810 | 122.6 | 823,375 | 658,713 | 25.0 | |
Total comprehensive income/(loss) attributable to: | |||||||
Equity holders of Lanka Walltiles PLC | 1,659,518 | 683,198 | 142.9 | 823,375 | 658,713 | 25.0 | |
Non controlling interest | 383,146 | 232,084 | 65.1 | - | - | - | |
Total comprehensive income/(loss) for the period | 2,042,664 | 915,282 | 123.2 | 823,375 | 658,713 | 25.0 | |
Earnings Per Share - Basic (Rs.) | 6.07 | 2.50 | 3.02 | 2.41 | |||
Segmental Information | |||||||
GROUP | COMPANY | ||||||
Period ended | 30.06.2022 | 30.06.2021 | Variance | 30.06.2022 | 30.06.2021 | Variance | |
Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | ||
Revenue | |||||||
Tiles & associated items | 6,353,143 | 4,349,838 | 46.1 | 1,795,818 | 1,389,104 | 29.3 | |
Plantation products | 890,254 | 593,638 | 50.0 | - | - | - | |
Packing materials | 2,921,706 | 1,450,932 | 101.4 | - | - | - | |
Aluminium products | 1,459,262 | 924,333 | 57.9 | - | - | - | |
Inter segment sales | (142,340) | (103,167) | (38.0) | - | - | - | |
Consolidated revenue | 11,482,026 | 7,215,574 | 59.1 | 1,795,818 | 1,389,104 | 29.3 | |
Profit/(Loss) before tax | |||||||
Tiles & associated items | 2,213,485 | 1,092,225 | 102.7 | 949,734 | 767,826 | 23.7 | |
Plantation products | 131,119 | 12,177 | 976.8 | - | - | - | |
Packing materials | 639,500 | 95,177 | 571.9 | - | - | - | |
Aluminium products | (350,030) | 34,015 | (1129.0) | - | - | - | |
Consolidated profit/(loss) before tax | 2,634,074 | 1,233,594 | 113.5 | 949,734 | 767,826 | 23.7 |
The notes to the financial statements on page 05 form an integral part of the financial statements.
The figures in brackets indicate deductions
Page-02
Lanka Walltiles PLC
Provisional Financial Statements
For the three months ended 30th June 2022
Statement of Changes in Equity
Attributable to equity holders of the parent | ||||||
Stated | Reserves | Retained | Total | Non controlling | Total | |
capital | profit | Interest | Equity | |||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
GROUP | ||||||
Balance as at 31st March 2021 | 787,765 | 3,541,400 | 10,242,050 | 14,571,215 | 4,823,606 | 19,394,821 |
Charge relating to Surcharge Tax (Note 7) | (690,156) | (690,156) | (191,926) | (882,082) | ||
Adjusted Balance as at 1st April 2021 | 787,765 | 3,541,400 | 9,551,894 | 13,881,059 | 4,631,680 | 18,512,739 |
Profit/(Loss) for the period | - | - | 683,034 | 683,034 | 231,776 | 914,810 |
Other comprehensive income /(loss) | - | - | 164 | 164 | 308 | 472 |
Dividend paid | - | - | (846,300) | (846,300) | - | (846,300) |
Dividend to non controlling interest | - | - | 48,804 | 48,804 | (301,624) | (252,820) |
Adjusted Balance as at 30th June 2021 | 787,765 | 3,541,400 | 9,437,596 | 13,766,761 | 4,562,140 | 18,328,901 |
Adjusted Balance as at 1st April 2022 | ||||||
787,765 | 3,536,480 | 12,802,729 | 17,126,974 | 5,441,659 | 22,568,634 | |
Profit/(Loss) for the period | - | - | 1,657,310 | 1,657,310 | 379,007 | 2,036,317 |
Other comprehensive income /(loss) | - | - | 2,208 | 2,208 | 4,139 | 6,348 |
Dividend paid | - | - | (791,700) | (791,700) | - | (791,700) |
Dividend to non controlling interest | - | - | 18,715 | 18,715 | (229,049) | (210,335) |
Balance as at 30th June 2022 | 787,765 | 3,536,480 | 13,689,262 | 18,013,507 | 5,595,756 | 23,609,263 |
COMPANY | ||||||
Balance as at 31st March 2021 | 787,765 | 2,057,891 | 3,645,057 | 6,490,713 | - | 6,490,713 |
Charge relating to Surcharge Tax (Note 7) | (278,160) | (278,160) | (278,160) | |||
Adjusted Balance as at 1st April 2021 | ||||||
787,765 | 2,057,891 | 3,366,897 | 6,212,553 | - | 6,212,553 | |
Profit/(Loss) for the period | - | - | 658,713 | 658,713 | - | 658,713 |
Other comprehensive income | - | - | - | - | - | - |
Dividend paid | - | - | (846,300) | (846,300) | - | (846,300) |
Adjusted Balance as at 30th June 2021 | 787,765 | 2,057,891 | 3,179,310 | 6,024,966 | - | 6,024,966 |
Adjusted Balance as at 1st April 2022 | ||||||
787,765 | 2,057,891 | 4,342,355 | 7,188,011 | - | 7,188,011 | |
Profit/(Loss) for the period | - | - | 823,375 | 823,375 | - | 823,375 |
Other comprehensive income | - | - | - | - | - | - |
Dividend paid | - | - | (791,700) | (791,700) | - | (791,700) |
Balance as at 30th June 2022 | 787,765 | 2,057,891 | 4,374,030 | 7,219,686 | - | 7,219,686 |
The notes to the financial statements on page 05 form an integral part of the financial statements.
The figures in brackets indicate deductions
Page -03
Lanka Walltiles PLC
Provisional Financial Statements
For the three months ended 30th June 2022
Cash Flow Statement
Period ended
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(Loss) before income tax
Adjustments for;
Depreciation and amortisation Amortisation of right of use lease assets Income from investments
Change in fair value of biological assets Profit/(loss) on sale of property, plant & equipment Interest income
Finance costs
Provision for retirement benefit obligations Capital expenditure written off
Allowance for obsolete and slow moving inventories Allowance for impairment of trade receivable Deferred income/ capital grants amortisation Foreign exchange (gain)/ loss
Share of net profit of associate
Operating profit before working capital changes
(Increase)/ decrease in inventories
(Increase)/ decrease in trade and other receivables (Increase)/ decrease in dues from related parties Increase in dues to related parties
Increase/ (decrease) in trade and other payables
Cash generated/ (used in) from operations
Interest received
Finance costs paid
Retirement benefit costs paid
Income tax paid
Net cash from/ (used in) operating activities
CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITIES
Acquisition of property, plant & equipment Acquisition of plantation assets
proceeds from sale of property, plant & equipment Income from investments
Net cash flows from / (used in) investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Interest bearing borrowings obtained
Repayment of interest bearing borrowings
Repayment of lease liability
Dividend paid - on ordinary shares
Dividend paid to non controlling interest
Capital grants received
Net cash flows from/(used in) financing activities
Net increase / (decrease) in cash and cash equivalents
MOVEMENT IN CASH & CASH EQUIVALENTS
Foreign currency translation differences of foreign operations
Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period
GROUP | COMPANY | ||
30.06.2022 | 30.06.2021 | 30.06.2022 | 30.06.2021 |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
2,634,074 | 1,233,594 | 949,734 | 767,825 |
286,924 | 264,727 | 56,012 | 46,310 |
26,511 | 16,856 | 6,350 | 5,158 |
- | - | (525,583) | (478,346) |
(8,837) | 3,969 | - | - |
- | - | - | - |
(142,570) | (28,366) | - | - |
996,084 | 134,924 | 23,991 | 5,461 |
56,430 | 44,927 | 6,638 | 6,638 |
14,331 | 3,193 | - | - |
5,610 | 367 | - | - |
13,700 | 3,734 | - | 1,200 |
(1,923) | (1,883) | - | - |
449,887 | 10,156 | (39,743) | 1,551 |
(855) | (185) | - | - |
4,329,367 | 1,686,013 | 477,398 | 355,797 |
(5,315,005) | (1,166,529) | (741,028) | 56,949 |
(3,113,595) | (356,216) | (858,971) | (21,004) |
7,575 | 8,993 | 58,229 | (14,211) |
29,805 | 65,205 | 111,178 | (30,298) |
2,137,660 | 132,714 | 524,860 | (63,904) |
(1,924,194) | 370,180 | (428,335) | 283,329 |
142,570 | 28,366 | - | - |
(996,084) | (134,924) | (23,991) | (5,461) |
(38,910) | (23,274) | (1,022) | (285) |
(846,695) | (315,664) | (301,562) | (150,375) |
(3,663,314) | (75,316) | (754,909) | 127,208 |
(165,740) | (543,289) | (20,024) | (212,834) |
(42,314) | (27,571) | - | - |
- | - | - | - |
- | - | 525,583 | 478,346 |
(208,053) | (570,860) | 505,559 | 265,512 |
7,091,543 | 2,981,579 | 674,033 | 400,000 |
(4,214,083) | (1,975,399) | (20,865) | (117,071) |
(30,224) | (17,445) | (4,807) | (5,081) |
(791,700) | (846,300) | (791,700) | (846,300) |
(210,335) | (252,820) | - | - |
- | - | - | - |
1,845,200 | (110,385) | (143,339) | (568,452) |
(2,026,167) | (756,561) | (392,689) | (175,732) |
6,348 | 472 | - | - |
5,604,209 | 2,270,477 | 794,291 | 223,511 |
3,584,389 | 1,514,388 | 401,602 | 47,778 |
The notes to the financial statements on page 05 form an integral part of the financial statements. The figures in brackets indicate deductions
Page-04
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Lanka Walltiles 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 12:04:09 UTC.