Richard Pieris Exports : Interim Financial Statement Third Quater -2022/2023

Richard Pieris Exports PLC

Interim Financial Statements

Nine Months ended 31st December 2022

Consolidated Statement of Financial Position

ASSETS

Non-current Assets

Property, Plant & Equipment

Investment in Associate

Investment Property

Right of use asset

Advance Payment for Investment

Deferred Tax Asset

Discontinued Operations

Assets of Arpico Natural Latex Foams (Pvt ) Ltd

Current Assets

Inventories

Trade & Other Receivables

Tax Receivable

Short Term Investment

Amounts Due from Related Parties

Cash and Bank Balances

Total Assets

EQUITY AND LIABILITIES Stated Capital Revenue Reserves Foreign Currency Translation

Equity Attributable to Equity Holders of the Parent Non Controlling Interest

Total Equity

Non-Current Liabilities

Interest Bearning Loans and Borrowings

W```

Retirement Benefit Obligation

Lease Instalments Payable After One Year

Discontinued Operations

Liabilities of Arpico Natural Latex Foams (Pvt ) Ltd

Current Liabilities

Trade and Other Payables Income Tax Payable Amounts Due to Related Parties

Lease Instalments Payable In the Ensuing Year Interest Bearing Loans & Borrowings

Total Liabilities

Total Equity and Liabilities

The above figures are subject to audit

As at 31st December	As at 31st March
2022	2022
Rs. 000	Rs. 000
2,218,857	1,705,284
421,951	346,132
352,599	352,599
131,015	133,719
57,363	57,363
-	2,240
3,181,784	2,597,337
-	-
1,340,761	752,757
1,875,830	2,126,232
-	-
472,856	448,788
232,227	58,327
2,255,692	1,761,802
6,177,366	5,147,906
9,359,150	7,745,243
220,262	220,262
3,770,636	2,899,207
347,533	255,338
4,338,431	3,374,807
1,626,682	1,529,830
5,965,113	4,904,637
75,000	150,000
86,575	88,134
117,556	115,260
139,557	135,057
418,688	488,451
226,990	226,944
354,996	775,946
132,576	88,366
950,135	330,767
14,449	14,448
1,296,203	915,684
2,748,359	2,125,211
3,394,037	2,840,606
9,359,150	7,745,243

I certify that the above Financial Statements have been prepared in compliance with the requirments of the Companies Act No. 07 of 2007.

…………………………………………..

Palika Chandrajeewa

Chief Finance Officer -Exports Sector

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 on 14th February 2023 in Colombo.

	W.R.Abeysirigunawardena	W.J. Viville P. Perera
	Director	Director

Company Statement of Financial Position

	As at 31st December	As at 31st March
	2022	2022
	Rs. 000	Rs. 000
ASSETS
Non-current Assets
Property, Plant & Equipment	162,169	103,140
Long Term Investments	463,023	463,023
Deferred Tax Asset	-	2,240
Current Assets	625,192	568,403
Inventories	455,523	249,386
Trade & Other Receivables	732,671	969,282
Other Current Financial Assets	466,007	441,824
Amounts Due from Related Parties	73,013	3,475
Cash and Bank Balances	1,408,684	993,948
Total Assets	3,135,898	2,657,915
3,761,090	3,226,318
EQUITY AND LIABILITIES
Stated Capital	220,262	220,262
Revenue Reserves	3,140,970	2,327,789
Total Equity	3,361,232	2,548,051
Non-Current Liabilities
Retirement Benefit Obligation	81,748	77,798
Deferred Tax Liability	1,027
Current Liabilities	82,775	77,798
Trade and Other Payables	126,286	232,508
Income Tax Payable	123,237	78,035
Amounts Due to Related Parties	67,560	289,926
Total Liabilities	317,083	600,469
399,858	678,267
Total Equity and Liabilities	3,761,090	3,226,318

The above figures are subject to audit

I certify that the above Financial Statements have been prepared in compliance with the requirments of the Companies Act No. 07 of 2007.

…………………………………………..

Palika Chandrajeewa

Chief Finance Officer -Exports Sector

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 on 14th Febraury 2023 in Colombo.

		…………………………….
	W.R.Abeysirigunawardena	W.J. Viville P. Perera
	Director	Director

Consolidated Income Statements

		3 months ended 31st December	9 months ended 31st December
		2022	2021	Change	2022	2021	Change
	Continuing Operations	Rs. '000	Rs. '000	%	Rs. '000	Rs. '000	%
	Revenue	1,909,048	1,778,416	7	7,338,076	4,932,795	49
	Cost of Sales	(1,487,153)	(1,202,429)	24	(5,202,121)	(3,313,847)	57
	Gross Profit	421,895	575,987	(27)	2,135,955	1,618,948	32
	Other Operating Income	7,125	6,878	4	19,696	18,067	9
	Distribution Costs	(308,958)	(299,925)	3	(1,135,901)	(729,362)	56
	Administrative Expenses	(108,560)	(76,958)	41	(331,982)	(212,326)	56
	Other Operating Expenses	-	-	-		-	-
	Profit from Operations
	11,502	205,982	(94)	687,768	695,327	(1)
	Finance Income	14,272	14,012	2	142,845	31,452	354
	Finance Cost	45,655	(15,432)	(396)	(713)	(28,129)	(97)
	Other Financial Items	12,743	5,483	132	724,360	24,770	2,824
	Share of Profit/ (Loss) of Associate	(5,576)	3,493	(260)	(19,063)	514	(3,809)
	Profit Before Tax	78,596	213,538	(63)	1,535,197	723,934	112
	Taxation	(26,038)	(31,643)	(18)	(240,731)	(99,261)	143
	Profit for the Period from Continuing Operations	52,558	181,895	(71)	1,294,466	624,673	107
	Discontinued Operations
	Loss after tax for the period from discontinued operations	(15)	(15)	-	(45)	(45)	-
	Profit for the period	52,543	181,880	(71)	1,294,421	624,628	107
	Attributable to:	-	-		-	-
	Equity Holders of the Parent	61,266	148,154	(59)	1,197,569	461,310	160
	Non Controlling Interest	(8,723)	33,725	(126)	96,852	163,318	(41)
		52,543	181,879	(71)	1,294,421	624,628	107
		Rs.	Rs.		Rs.	Rs.
	Earnings Per Share	5.49	13.27		107.27	41.32
	Earnings Per Share from Continuing Operations	5.49	13.27		107.27	41.32
	Dividend per Share	-	-		-	-
	Figures in brackets indicate deductions.
	The above figures are subject to audit.

Company Income Statements

		3 months ended 31st December	9 months ended 31st December
		2022	2021	Change	2022	2021	Change
		Rs. '000	Rs. '000	%	Rs. '000	Rs. '000	%
	Revenue	522,708	608,294	(14)	2,624,773	1,676,079	57
	Cost of Sales	(413,390)	(372,274)	11	(1,676,749)	(1,082,590)	55
	Gross Profit	109,318	236,020	(54)	948,024	593,489	60
	Other Operating Income	207	1,521	(86)	1,390	2,014	(31)
	Distribution Costs	(50,592)	(81,810)	(38)	(286,156)	(146,333)	96
	Administrative Expenses	(32,326)	(26,317)	23	(101,949)	(78,218)	30
	Profit from Operations	26,607	129,414	(79)	561,309	370,952	51
	Finance Income	64,096	8,911	619	138,993	23,049	503
	Finance Cost	(1,754)	(2,954)	(41)	(4,349)	(4,989)	(13)
	Other Financial Items	10,491	3,949	166	384,286	1,523	25,132
	Profit before Tax	99,440	139,320	(29)	1,080,239	390,535	177
	Taxation	(27,250)	(19,664)	39	(162,406)	(53,304)	205
	Profit Attributable to Ordinary Shareholders	72,190	119,656	(40)	917,833	337,231	172
		Rs.	Rs.		Rs.	Rs.
	Earnings Per Share	6.47	10.72		82.22	30.21
	Dividend Per Share	-	-		-	-

Figures in brackets indicate deductions.

The above figures are subject to audit.