Ramboda Falls : Interim Financial Statement period ended 30th June 2022

RAMBODA FALLS PLC

INTERIM FINANCIAL STATEMENTS -01st QUARTER

THREE (03) MONTHS ENDED 30th JUNE 2022

RAMBODA FALLS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the Three Months ended 30th June

Three Months Ended 30th

June

2022	2021	Variance
Rs.	Rs.	%
(Un-audited)	(Audited)

Revenue	14,738,378	4,367,897
Direct Cost	(6,356,351)	(2,321,071)
Gross Profit	8,382,028	2,046,826
Other Operating Income	351,350	164,267
Administration & Other Expenses	(11,652,796)	(5,060,728)
Marketing & Selling Expenses	(1,331,253)	(1,231,216)
Profit / (Loss) From Operations	(4,250,671)	(4,080,851)

237

174

114

130

8

Finance Income	802,070	31,277
Finance Expenses	(80,318)	(83,274)
Net Finance Income/(Cost)	721,752	(51,997)
Profit / (Loss) Before Taxation	(3,528,920)	(4,132,848)
Income Tax Expences	-	-
Profit / (Loss) for the Quarter	(3,528,920)	(4,132,848)
Total Comprehensive Income /	(3,528,920)	(4,132,848)
(loss) for the year

2464

(4)

(1488)

(15)

(15)

(15)

Profit / (Loss) Per Share

(0.18)

(0.21)

RAMBODA FALLS PLC

STATEMENT OF FINANCIAL POSITION

As at 30th June	2022	2021	as at 31/03/2022
ASSETS	Rs.			Rs.	Rs.
Non-Current Assets
Property, Plant & Equipment	668,723,240	465,582,236	674,022,672
Intangible Asset	58,898		139,494	70,302
Total Non Current Assets	668,782,138	465,721,730	674,092,974
Current Assets
Inventories	2,596,425	1,683,233	2,965,412
Trade & Other Receivables	1,824,296	3,946,060	4,618,995
Cash & Cash Equivalents	10,662,161		4,098,079	11,331,180
Total Current Assets	15,082,882		9,727,372	18,915,588
TOTAL ASSETS	683,865,020	475,449,102	693,008,562
EQUITY AND LIABILITIES
Equity
Stated Capital	100,000,020	100,000,020	100,000,020
Revaluation Reserve	394,273,848	208,816,572	394,273,848
Retained Earnings	82,416,943		79,164,870	85,945,862
Total Equity	576,690,810	387,981,462	580,219,730
Non-Current Liabilities
Retirement Benefit Obligation	4,184,705	4,536,344	4,184,705
Interest Bearings Loans & Borrowings	4,444,364	13,767,559	5,384,252
Deferred Tax Liability	81,091,885		55,724,807	81,091,885
Total Non-Current Assets	89,720,955	74,028,710	90,660,842
Current Liabilities
Trade & Other Payables	10,646,415	11,319,862	14,426,274
Interest Bearings Loans & Borrowings	4,691,156	624,545	5,549,057
Income Tax Payable	1,259,635	-	1,259,635
Dividend Payable	652,627	652,627	652,627
Bank Overdrafts	203,422		841,895	240,396
Total Current Liabilities	17,453,255		13,438,930	22,127,990
Total Liabilities	107,174,209		87,467,640	112,788,832
TOTAL EQUITY & LIABILITIES	683,865,020		475,449,102	693,008,562
		(0.16)
Net assets per share	28.83	19.40	29.01

+

I certify that the financial statements comply with the requirements of the Companies Act No. 7 of 2007.

Kasun Wickramage

Accountant

The Board of Directors is responsible for the preparation and presentation of these financial statements approved and signed for and on behalf of the Board.

L. S. Sigera	I. J. A. Karunarathna
Director	Director

RAMBODA FALLS PLC

STATEMENT OF CASH FLOW

For the Three Months ended 30th June	2022	2021
	Rs.			Rs.
Cash Flows from Operating Activities
Profit before taxation	(3,528,920)	(4,132,848)
Adjustments for:
Depreciation on property, Plant & Equipment	5,299,433	3,413,503
Amortisation of Intangible Asset	11,404	11,340
Provision for Employee Benefits	-
Finance Cost	80,318	83,274
Interest Income	(195,965)	(31,277)
Profit on Sales of Property Plant & Equipment	-
Provision For Bad Debts	-
Operating Profit before Working Capital Changes	1,666,270	(656,008)
(Increase)/decrease in Inventories	368,987	(396,722)
(Increase)/decrease in Trade & other Receivables	2,794,699	568,841
Increase/(decrease) in Trade & other Creditors	(3,779,859)		(1,644,672)
Cash generated from/ (used in) operation	1,050,098	(2,128,562)
Less:
Interest Paid	(80,318)	(83,274)
Income tax paid	-
Gratuity Paid	0		(916,714)
Net cash generated from operating activities	969,780	(3,128,550)
Cash flows from/ (used in) investing activities
Purchase and Construction of Property, Plant & Equipment	-	(1,322,467)
Sales of Property Plant & Equipment	-	-
Purchase of Capital Work In Progress	-
Interest received	195,965		31,277
Net cash used in investing activities	195,965	(1,291,190)
Cash flows from financing activities
Proceeds from Interest Bearing Borrowings	-	6,250,000
Repayment of Interest Bearing Borrowings	(1,550,100)
Principal Payment under Finance Lease Liabilities	(247,689)		(2,814,217)
Net cash flows (used in) from financing activities	(1,797,789)		3,435,783
Net Increase/(Decrease) in Cash & Cash Equivalents	(632,044)	(983,956)
Cash & Cash Equivalents at the Beginning of the Period	11,090,784		4,240,140
Cash & Cash Equivalents at the End of the Period	10,458,740	3,256,184
Analysis of cash and cash equivalents
Cash at bank	10,464,302	3,797,235
Cash in hand	197,859	300,844
Bank Overdraft	(203,421)		(841,895)
	10,458,740	3,256,184

RAMBODA FALLS PLC

STATEMENT OF CHANGES IN EQUITY

For the Three Months ended 30th June 2022	Stated			Revaluation			Retained			Total
	Capital			Reserve			Earnings			Equity
	Rs.			Rs.			Rs.			Rs.
As at 01st April, 2021	100,000,020	208,816,572	82,288,278	391,104,870
Total comprehensive income for the period
Profit for the year	-	-	3,479,866	3,479,866
Other comprehensive income	-	185,457,276	177,718	185,634,994
Realization on Revalued assets diposal		-	-
Total comprehensive income for the period	-	185,457,276	3,657,584	189,114,860
Transactions with owners - Contributions &
Distributions
Dividend Paid	-	-	-	-
Total transactions with owners	-	-	-	-
As at 31st March, 2022	100,000,020	394,273,848	85,945,862	580,219,730
As at 01st April, 2022
100,000,020	394,273,848	85,945,862	580,219,730
Total comprehensive income for the period
Profit for the period	-	-	(3,528,920)	(3,528,920)
Other comprehensive income	-	-	-	-
Total comprehensive income for the period	-	-	(3,528,920)	(3,528,920)
Transactions with owners - Contributions &
Distributions
Dividend Paid	-	-	-	-
Total transactions with owners	-	-	-	-
As at 30th June 2022	100,000,020	394,273,848	82,416,943	576,690,810

Figures in brackets indicate deductions.