Regnis Lanka : Interim Financial Statements as of 31/12/2021

REGNIS (LANKA) PLC

INTERIM FINANCIAL STATEMENTS FOR THE

NINE MONTHS ENDED 31ST DECEMBER 2021

Interim Financial Statements For the Nine Month Ended 31st December 2021

STATEMENT OF FINANCIAL POSITION

				Group		Group		Group		Company		Company		Company
		As at	31-Dec		31-Dec		31-March		31-Dec		31-Dec		31-March
				2021	2020	2021		2021	2020	2021
		ASSETS	Rs'000		Rs'000		Rs'000		Rs'000		Rs'000		Rs'000
		Non-Current Assets
		Property,Plant and Equipment	1,203,504	1,265,733	1,215,769		1,088,144	1,170,426	1,132,818
		Right of use asset	1,230	15,995	12,304		-
		Intangible Assets	37,207	2,331	37,360		24,512	2,330	23,614
		Investments in Subsidiary	-	-	-		150,000	150,000	150,000
		Investment in equity securities	25,477	22,742	25,305		25,477	22,742	25,305
		Pre-paid operating leases		59,641	60,942	60,617		-	-	-
		Other Receivables	2,088		8,916		4,772		1,353		3,998		3,541
		Total Non-Current Asset	1,329,147	1,376,659	1,356,126		1,289,486	1,349,496	1,335,278
		Current Assets
		Inventories	1,857,697	1,471,271	1,514,618		1,336,810	1,051,221	1,041,802
		Trade and Other Receivables	165,939	103,315	92,933		94,957	71,576	72,987
		Amounts Due from Related Parties -Trade	916,849	546,473	761,289		589,820	407,991	571,563
		Amounts Due from Related Parties - Non Trade	287	-	-		5,474	5,635	13,468
		Income tax receivables	756	32,109	4,984		756	31,027	4,984
		Prepayments	13,380	20,090	13,279		9,965	16,175	10,275
		Cash & Cash Equivalents	9,715		12,184		6,147		9,578		10,338		5,840
		Total current Assets	2,964,623		2,185,442		2,393,250		2,047,360		1,593,963		1,720,919
		Total Assets	4,293,770	3,562,101	3,749,376		3,336,846	2,943,459	3,056,198
		EQUITY AND LIABILITIES
		Equity
		Stated Capital	211,192	211,192	211,192		211,192	211,192	211,192
		Reserves	463,427	425,588	467,454		463,428	425,588	467,455
		Retained Earnings	1,080,977		935,109		1,032,436		852,050		734,564		828,528
		Total Equity Attributable to Owners of the Company	1,755,596	1,571,889	1,711,083		1,526,669	1,371,343	1,507,174
		Non-Current Liabilities
		Deferred Tax Liabilities	144,425	241,099	146,691		139,709	233,525	141,180
		Employee benefits	151,938	139,489	146,040		144,235	133,250	138,735
		Lease liability	-		2,732		-		-		-		-
		Total non-current liabilities	296,363	383,320	292,731		283,944	366,775	279,915
		Current Liabilities
		Trade and Other Payable	1,218,691	815,682	1,001,374		803,114	564,271	685,029
		Amounts Due to Related Parties - Trade	144,939	16,267	24,080		152,794	112,003	90,870
		Amounts Due to Related Parties -Non Trade	136,880	53,156	22,845		99,989	45,314	15,704
		Provisions	64,448	33,018	68,647		47,465	20,757	53,321
		Current tax liabilities	5,297	-	3,285		-	-	-
		Dividends Payable	6,951	6,193	64,778		6,951	6,193	64,778
		Lease liability	2,732	15,412	14,443		-	-	-
		Loans Due to Related Parties	75,000	-	-		-	-	-
		Loans and Borrowings	550,136	635,224	515,086		382,258	432,495	334,925
		Bank overdraft	36,737		31,939		31,024		33,662		24,307		24,481
		Total current liabilities	2,241,811		1,606,892		1,745,562		1,526,233		1,205,341		1,269,109
		Total Liabilities	2,538,174		1,990,212		2,038,293		1,810,177		1,572,116		1,549,024
		Total Equity and Liabilities	4,293,770	3,562,101	3,749,376		3,336,846	2,943,459		3,056,198
		Net Assets per Share **	77.90	69.75	75.93		67.74	60.85	66.88

** Subsequent to the sub - division of shares

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

Sgd.

Kanchana Atukorala

Chief Financial Officer

Figures in brackets indicate deductions.

The above figures are provisional and subject to Audit.

The Board of directors is responsible for the preperation and presentation of these financial statements.

Signed for and on behalf of the board,

Sgd.	Sgd.
M.H.Wijewardene	K.D Kospelawatta
Director	Director

14th February 2022

Colombo	REGNIS (LANKA) PLC 02

Interim Financial Statements For the Nine Month Ended 31st December 2021

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

			Group		Group		Company			Company		Group Variance				Company Variance
	For the quarter ended 31st December	2021		2020		2021			2020		Vs					Vs
						Prior Year				Prior Year
		Note	RS'000		RS'000		RS'000			RS'000		RS'000	%				RS'000	%
	Revenue	2.1	2,046,377		1,303,233		1,435,649			925,706		743,144		+ 57				509,943		+55
	Cost of Sales		(1,949,251)	(1,254,166)		(1,378,398)			(893,588)		(695,085)		- 55			(484,810)		- 54
	Gross Profit		97,126		49,067		57,251			32,118		48,059		+98			25,133		+78
	Other Operating Income													< 100						< 100
		79		21		79			21		58				58
	Administrative Expenses		(6,632)		(4,002)		(5,238)			(3,262)		(2,630)		- 66			(1,976)		- 61
	Selling & Distribution Expenses		(11,302)		(8,344)		(5,425)			(4,243)		(2,958)		- 36				(1,182)		- 28
	Results from Operating Activities		79,271		36,742		46,667			24,634		42,529		< 100			22,033		+89
	Finance Cost													> 100						-100
		(19,285)		(9,220)		(14,066)			(7,026)		(10,065)					(7,040)
	Finance Income		907		1,886		1,877			2,497		(979)		- 52				(620)		+ 25
	Net Finance Cost		(18,378)		(7,334)		(12,189)			(4,529)		(11,044)		> 100			(7,660)		> 100
	Profit Before Taxation		60,893		29,408		34,478			20,105		31,485		< 100				14,373		+ 72
	Taxation Expense		(11,445)		(5,400)		(6,000)			(4,171)		(6,045)		> 100				(1,829)		- 44
	Profit for the Period		49,448		24,008		28,478			15,934		25,440		< 100				12,544		+ 79
	Other Comprehensive Income
	Items that will not be reclassified	to profit or loss
	Items that may be reclassified
	subsequently to profit or loss Net change
	in fair value of equity securities - FVOCI
	Change of fair value of FVOCI Investment	44		48		44			48
	Related Tax		(8)		(14)		(8)			(14)
	Other Comprehensive Income net of tax	36		35		36			35
	Total Comprehensive Income		49,484		24,043		28,514			15,969
	Profit attributable to:
	Owners of the Company		49,448		24,008		28,478			15,934
	Non controlling interest		-		-		-			-
	Profit for the period		49,448		24,008		28,478			15,934
	Total Comprehensive Income attributable to:
	Owners of the Company		49,484		24,043		28,514			15,969
	Non controlling interest		-		-		-			-
	Total Comprehensive Income for the period	49,484		24,043		28,514			15,969
	Earnings per Share - Basic		2.19		1.07		1.26			0.71
	Figures in brackets indicate deductions.
	The above figures are provisional and subject to Audit.
	Share Prices			Three Months Ended		Three Months	Ended
				31st December 2021		31st December 2020
	Highest			Rs.	75.00 **				Rs.	124.00 *
	Lowest			Rs.	60.00 **				Rs.	68.00 *
	Last Traded Price			Rs.	65.30**				Rs.	114.60 *
	* Prior to the sub - division of shares
	** Subsequent to the sub - division of shares

REGNIS (LANKA ) PLC 03

Interim Financial Statements For the Nine Month Ended 31st December 2021

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

			Group			Group		Company				Company					Group Variance				Company Variance
	Nine months ended 31st December		Dec 2021		Dec 2020		Dec 2021				Dec 2020					Vs							Vs
												Prior Year				Prior Year
		Note	RS'000			RS'000		RS'000				RS'000					RS'000		%						RS'000		%
	Revenue	2.2	4,707,160	3,185,077		3,324,575	2,294,369		1,522,083		+ 48			1,030,206		+ 45
	Cost of Sales		(4,564,643)	(3,081,253)		(3,242,031)	(2,228,588)		(1,483,390)		+ 48			(1,013,443)		+ 46
	Gross Profit		142,517			103,823		82,544		65,781			38,693		+37				16,763		+ 26
	Other Operating Income		4,523			190		130	190		4,333		< 100			(60)		- 32
	Administrative Expenses		(18,956)			(11,195)		(14,620)	(9,261)		(7,761)		+ 69			(5,359)		+ 58
	Selling & Distribution Expenses		(27,558)			(16,488)		(14,000)	(7,409)		(11,070)		+ 67			(6,591)		+ 89
	Results from Operating Activities		100,526			76,330		54,054		49,301			24,195		+ 32				4,753		+ 10
	Finance Cost		(46,790)			(52,145)		(34,811)			(39,915)				5,355		- 10					5,104		- 13
	Finance Income		4,336			10,272		6,714			11,272				(5,936)		- 58					(4,558)		- 40
	Net Finance Cost		(42,454)			(41,873)		(28,097)		(28,643)			(581)		- 1				546		+ 2
	Profit Before Taxation		58,072			34,457		25,957		20,658			23,614		- 69				5,299		+ 26
	Taxation Expense		(13,699)			(4,617)		(6,603)	(1,813)		(9,082)		> 100			(4,790)		> 100
	Profit for the Period		44,373			29,840		19,354	18,845		14,532		+ 49			509		+ 2.7
	Other Comprehensive Income
	Items that may be reclassified subsequently to profit or loss
	Net change in fair value of equity securities - FVOCI
	Change of fair value of FVOCI Investment		172			302		172	302
	Related Tax		(31)			(84)		(31)		(84)
	Other Comprehensive Income for the period,net of tax	141			217		141		217
	Total Comprehensive Income for the period		44,514			30,057		19,495	19,062
	Profit attributable to:
	Owners of the Company		44,373			29,840		19,354	18,845
	Non controlling interest		-			-		-	-
	Profit for the period		44,373			29,840		19,354		18,845
	Total Comprehensive Income attributable to:
	Owners of the Company		44,514			30,057		19,495	19,062
	Non controlling interest		-			-		-	-
	Total Comprehensive Income for the period		44,514			30,057		19,495		19,062
	Earnings per Share - Basic		1.97			1.32		0.86	0.84
	Figures in brackets indicate deductions.
	The above figures are provisional and subject to Audit.
	Share Prices			Period Ended		Period Ended
			31st December 2021	31st December 2020
	Highest				Rs.	83.00 **						Rs. 124.00*
	Lowest				Rs.	44.00 **						Rs. 48.10*
	Last Traded Price				Rs.	65.30 **						Rs. 114.60*
	* Prior to the sub - division of shares
	** Subsequent to the sub - division of shares

REGNIS (LANKA ) PLC 04

Interim Financial Statements For the Nine Month Ended 31st December 2021

STATEMENT OF CHANGES IN EQUITY

		Stated	Revaluation	FVOCI	Retained
		Capital	Reserve		Earnings	Total
	Group	Rs'000	Rs'000	Rs'000	Rs'000	Rs'000
	Balance as at 1st April 2020	211,192	425,097	4,441	901,102	1,541,832
	Total comprehensive Income
	Profit for Nine months 31st December 2020	-	-	-	29,840	29,840
	Other comprehensive income
	Change of fair value of FVOCI Investment	-	-	302	-	302
	Deferred tax on equity investments at FVOCI - change in fair value	-	-	(84)	-	(84)
	Other comprehensive income for the period	-	-	217	-	217
	Total comprehensive income for the period	-	-	217	29,840	30,057
	Realisation of revaluation surplus	-	(4,167)	-	4,167	-
	Balance as at 31st December 2020	211,192	420,930	4,658	935,109	1,571,889
	Total comprehensive Income
	Profit for three months 31st March 2021	-	-	-	157,019	157,019
	Other comprehensive income
	Re-measurement of defined benefit obligation	-	-	-	(3,036)	(3,036)
	Change of fair value of FVOCI Investment	-	-	2,563	-	2,563
	Related taxes
	Deferred tax on re-measurement on defined benefit obligation	-	-	-	546	546
	Deferred tax on equity investments at FVOCI - change in fair value	-	-	(431)	-	(431)
	Impact on deferred tax rate change on revaluation reserve	-	41,126	-	-	41,126
	Total other comprehensive income, net of tax	-	41,126	2,131	(2,490)	40,768
	Total comprehensive income, net of tax	-	41,126	2,131	154,529	197,786
	Transaction with owners of the company, recognised directly in equity
	Final dividend 2020/21	-	-	-	(58,593)	(58,593)
	Total transaction with owners of the company	-	-	-	(58,593)	(58,593)
	Realisation of revaluation surplus	-	(1,391)	-	1,391	-
	Balance as at 31st March 2021	211,192	460,665	6,789	1,032,436	1,711,083
	Total comprehensive Income
	Profit/(loss) for Nine months 31st December 2021	-	-	-	44,373	44,373
	Other comprehensive Income
	Change of fair value of FVOCI Investment	-	-	172	-	172
	Deferred tax on equity investments at FVOCI - change in fair value	-	-	(31)	-	(31)
	Other comprehensive income for the period	-	-	141	-	141
	Total comprehensive income for the period	-	-	141	44,373	44,514
	Transaction with owners of the company, recognised directly in equity
	Realisation of revaluation surplus	-	(4,168)	-	4,168	-
	Balance as at 31st December 2021	211,192	456,497	6,930	1,080,977	1,755,596

REGNIS (LANKA) PLC 05