Printcare : Quarterly Finance Report 30.09.2022

Corporate Information

Printcare PLC was incorporated as a Private Limited Liability Company on 3rd September 1979

Under the Companies' Ordinance NO. 51 of 1938.

It was converted to a Public Limited Liability Company on 21st October 1994.

Company Registration No : PQ 75

Tax payer Identification No : 104059317

BOARD OF DIRECTORS

Merrill J Fernando

Abbas Esufally

K R Ravindran

Ejaz Chatoor

Dayasiri Warnakulasooriya

Ms. Anushya Coomaraswamy

Vajira Kulatilaka

Krishna Ravindran

Steven Mark Enderby

REGISTERED OFFICE

77, Nungamugoda Road, Kelaniya.

STOCK EXCHANGE LISTING

Colombo Stock Exchange

AUDITORS

Messrs. Ernst & Young

Chartered Accountants

201, De Saram Place, Colombo 10.

LAWYERS

D.L. & F De Saram

Attorneys-at-Law and Notaries Public

47,Alexandra Place, Colombo 07.

SECRETARIES

Managers & Secretaries (Pvt) Limited

8, Tickell Road, Colombo 08.

BANKERS

National Development Bank PLC

Commercial Bank of Ceylon PLC

Standard Chartered Bank

People's Bank

Nations Trust Bank PLC

Bank of Ceylon

Hatton National Bank PLC

Union Bank of Colombo PLC

Seylan Bank PLC

DFCC Bank PLC

Printcare PLC

		Consolidated Income Statement
Group		Six Months	Six Months		Quarter	Quarter		Year
	Note	ended	ended	Variance	ended	ended	Variance	ended
		30.09.2022	30.09.2021		30.09.2022	30.09.2021		31.03.2022
		Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs. '000
Revenue		6,764,972	3,337,465	3,427,508	3,683,932	1,704,053	1,979,880	7,626,233
Cost of Sales		(4,552,154)	(2,546,392)	(2,005,762)	(2,582,840)	(1,297,858)	(1,284,982)	(5,767,247)
Gross Profit
	2,212,819	791,073	1,421,745	1,101,092	406,195	694,898	1,858,986
		32.7%	23.7%		29.9%	23.8%	35.1%	24.4%
Other Operating Income		44,279	34,337	9,942	22,647	19,622	3,024	59,470
Distribution Costs		(191,445)	(101,833)	(89,612)	(93,198)	(51,153)	(42,045)	(205,433)
Administrative Expenses	11	(15,787)	(419,488)	403,701	(277,507)	(234,805)	(42,702)	(194,661)
Results from Operating Activities
	2,049,865	304,089	1,745,776	753,033	139,859	613,175	1,518,362
Finance Income		25,691	7,012	18,679	6,657	5,973	684	25,900
Finance Costs		(347,121)	(106,573)	(240,548)	(215,419)	(60,445)	(154,975)	(260,848)
Gain on Disposal of Associate		-	-	-	-	-	-	989,965
Share of Associate Profit / (Loss)	14	-	47,141	(47,141)	-	26,731	(26,731)	62,786
Profit/ (Loss) Before Tax
	1,728,435	251,669	1,476,766	544,272	112,118	432,154	2,336,166
Income Tax (Expense)/Reversal		(245,444)	(59,409)	(186,034)	(111,930)	(27,332)	(84,599)	(71,210)
Profit/ (Loss) for the Period
	1,482,992	192,260	1,290,732	432,341	84,786	347,555	2,264,956

Profit/ (Loss) Attributable to: Equity Holders of the Parent

Minority Interests

1,464,994	198,311	1,266,682	440,507	87,683	352,824	2,236,812
17,998	(6,051)	24,049	(8,166)	(2,897)	(5,269)	28,144
1,482,992	192,260	1,290,732	432,341	84,786	347,555	2,264,956

Earnings Per Share - Basic	10	17.04	2.31	5.12	1.02	26.02
Dividends Per Share		4.00	1.00	4.00	-	5.00
The above figures are provisional and subject to audit.

Printcare PLC

Consolidated Statement of Comprehensive Income
Group
	Six Months	Six Months	Quarter	Quarter	Year
Note	ended	ended	ended	ended	Ended
	30.09.2022	30.09.2021	30.09.2022	30.09.2021	31.03.2022
	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs. '000
Profit/ (Loss) for the Period	1,482,992	192,260	432,341	84,786	2,264,956
Other Comprehensive Income
Gains on Fair Value through Other Comprehensive Income Investments	753	53	1,010	80	(989)
Currency Translation of Foreign Operations	5,458	(203)	(2,393)	181	17,035
Actuarial Gains/(Losses)	-	-	-	-	(1,540)
Deferred Tax Effect on actuarial gain	-	-	-	-	252
Other Comprehensive Income for the Year Net of Tax
1,489,203	192,110	430,959	85,048	2,279,713
Total Comprehensive Income Attributable to:
Equity Holders of the Parent	1,471,205	198,162	439,125	87,945	2,251,910
Minority Interests	17,998	(6,051)	(8,166)	(2,897)	27,803
	1,489,203	192,110	430,959	85,048	2,279,713
The above figures are provisional and subject to audit.

Printcare PLC

Statement Of Financial Position

As at 30 September 2022

Group

	Note	30.09.2022	31.03.2022
ASSETS		Rs.'000	Rs.'000
Non-Current Assets
Property, Plant and Equipment		3,673,982	3,764,777
Intangible Assets		68,037	66,838
Right of use Asset		83,546	93,727
Fair value through Other Comprehensive Income Investments		2,818	2,065
Deferred Tax Assets		39,542	46,521
		3,867,925	3,973,927
Current Assets
Inventories		4,600,402	2,603,912
Trade and Other Receivables		3,401,939	2,700,356
Prepayments		77,799	49,172
Income Tax Recoverable		-	1,224
Other Taxes Recoverable		235,103	192,221
Other Short Term Investments		182,268	503,466
Cash and Bank Balances		1,267,283	1,565,456
		9,764,794	7,615,807
Total Assets		13,632,720	11,589,734
EQUITY AND LIABILITIES
Equity
Stated Capital	12	271,893	271,893
Reserves		1,018,328	1,012,870
Retained Earnings		4,675,755	3,554,628
Fair value through Other Comprehensive Income Reserves		1,762	1,009
		5,967,738	4,840,400
Non Controlling Interests		232,191	214,193
Total Equity		6,199,930	5,054,593
Non-Current Liabilities
Interest Bearing Loans and Borrowings		1,772,794	1,923,712
Leased Liability		58,611	68,353
Deferred Tax Liabilities		266,178	211,206
Employee Benefit Liability		240,813	228,766
		2,338,396	2,432,036
Current Liabilities
Trade and Other Payables		1,235,986	1,429,743
Income Tax Payable		254,880	100,132
Other Taxes Payable		80,593	62,872
Interest Bearing Loans and Borrowings		3,503,900	2,492,195
Leased Liability		19,036	18,163
		5,094,394	4,103,105
Total Equity and Liabilities		13,632,720	11,589,734
Net Asset Value Per Share (Rs.)		69.42	56.31
The above figures are provisional and subject to audit.
These Financial Statements are in compliance with the Companies Act No. 07 of 2007.
…………...…………………….…
R. Kishore Ignatius
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these
Financial Statements. Signed for and on behalf of the Board by,
…………...………………………….		…………...………………………….
K.R.Ravindran		A. Coomaraswamy
Director		Director
Printcare PLC		Printcare PLC

14-Nov-22