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.