Autodrome : INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED 30.06.2022

THE AUTODROME PLC

INTERIM FINANCIAL STATEMENTS

FOR THE QUARTER

ENDED 30.06.2022

The Autodrome PLC

304 Union Place,

Colombo 02. Sri Lanka

www.autodrome.lk/financial

The Autodrome PLC	1
Interim Report as at 30 June 2022

Share & Corporate Information

MARKET VALUE OF SHARES

The Market value of an ordinary share of The Autodrome PLC was as follows :

	Quarter ended	Year ended
	30.06.2022			30.06.2021			31.03.2022
	Rs.	Rs.	Rs.
Closing price	80.10			89.90			115.00
Highest price for the period	119.50			99.00			220.00
Lowest price for the period	76.20			65.80			65.80
No. of shares	12,000,000			12,000,000			12,000,000
Market Capitalization	961,200,000			1,078,800,000			1,380,000,000
Float Adjusted Market Capitalization	202,755,528			228,381,960			291,097,200
RATIOS
Net Assets per Share	150.42			148.43			151.22
Annualised Earning per Share	(0.95)			1.50			4.24
Annualised Price Earning Ratio (times)	(84.75)			60.04			27.12
Corporate Information
Company Registration Number PQ‐84 Stock Exchange: AUTO.N0000. GICS Industry Group: Retailing
Board of Directors Mrs. Bernadette Aloysius BA‐ Chairperson
Mr. Jeremy Aloysius MBA (USA) ‐	Jt. Managing Director

Mr. Rajeev Aloysius FCMA, FCMA(UK), CGMA, MBA ‐ Jt. Managing Director

Mrs. Joanne Aloysius Rajiyah BSc (Lon.), MBA ‐ Marketing Director

Prof. John Aloysius BSc, PhD (USA)

Ms. Julie A. Aloysius BA (USA)

Mr. Raviraj Ratnasabapathy FCMA(UK), CGMA, MBA

Mr. Brihadisvara Ponnambalam

Mr. Ranil de Silva ACA, FCMA(UK), CGMA, MCIM

Company Secretaries

Registered Office

Lawyers

Auditors

Bankers

Accounting Systems and Secretarial Services (Pvt) Ltd.

304, Dr. Colvin R. de Silva Mawatha (Union Place), Colombo 00200 M/s. D.L. & F. de Saram, Attorneys‐at‐law

Ernst and Young Sri Lanka, Chartered Accountants

StandardChartered Bank, Main Office

Hatton National Bank PLC, Head Office Branch

Commercial Bank of Ceylon PLC, City Office People's Bank, Union Place

Sampath Bank, Colombo Super Branch

The Autodrome PLC						2
Interim Report as at 30 June 2022
Statement of Financial Position
Company	Group		Company	Group
(Unaudited)	(Unaudited)		(Unaudited)		(Unaudited,	(Unaudited)		(Unaudited,
		Restated)		Restated)
31.03.2022	31.03.2022		30.06.2022	30.06.2021	30.06.2022	30.06.2021
Rs.ʹ000	Rs.ʹ000		Rs.ʹ000		Rs.ʹ000	Rs.ʹ000		Rs.ʹ000
		Assets
		Non‐current assets
1,822,206	1,822,206	Property, Plant & Equipment	1,818,973	1,834,383	1,818,973	1,834,383
21	21	Intangible Assets	17	64	17	64
500	‐	Investments	500	500	‐		‐
128,530	135,630	Other Financial Assets	148,830	81,556	155,930	88,656
1,951,256	1,957,856		1,968,320		1,916,503	1,974,920		1,923,103
		Current Assets
65,702	65,702	Inventories	20,568	185,419	20,568	185,419
28,554	29,067	Trade Receivables & Other Receivables	11,149	78,124	12,242	79,181
343,719	347,714	Other Financial Assets	280,046	269,013	284,624	272,300
28,308	31,312	Cash and Cash Equivalents	3,085	2,494	4,363	2,967
466,283	472,060		314,849		535,050	321,797		539,867
		Total Assets
2,417,539	2,429,916	2,283,168	2,451,554	2,296,717	2,462,970
		Equity and Liabilities
		Capital and Reserves
12,440	12,440	Stated Capital	12,440	12,440	12,440	12,440
1,262,539	1,262,539	Revaluation Reserve	1,261,499	1,265,650	1,261,499	1,265,650
529,498	540,842	Revenue Reserves	519,224	499,095	531,051	509,795
		Shareholdersʹ Funds
1,804,477	1,814,602	1,793,163		1,777,185	1,804,991	1,787,885

Non‐current Liabilities

414,019	414,019	Deferred Taxation
28,795	28,795	Retirement Benefit Obligations
442,814	442,814	Current Liabilities
163,991	166,476	Trade and Other Payables
6,257	6,541	Current Tax Liability
‐	‐	Amount Due to related party
‐	‐	Bank Overdraft
170,248	172,499
613,062	615,313	Total Liabilities
		Total Equity and Liabilities
2,417,539	2,429,916

414,019	410,048	414,019	410,048
29,154	23,455	29,154	23,455
443,173	433,503	443,173	433,503
40,067	204,750	41,483	205,177
5,257	8,684	5,653	8,783
92	20,345	‐	20,535
1,416	7,087	1,416	7,087
46,832		240,866	48,553	241,582
490,005	674,369	491,726	675,085
2,283,168	2,451,554	2,296,717	2,462,970

The Statement of Financial Position as at 30th June 2022 and the Statement of Comprehensive Income, Statement of Changes in Equity & Cash Flow Statement for the quarter then ended, are drawn up from the unaudited financial statements of the Company and provide the information required by the Colombo Stock Exchange.

Rajeev Aloysius	Jeremy Aloysius
Jt. Managing Director	Jt. Managing Director
27 July 2022

The Autodrome PLC	3
Interim Report as at 30 June 2022

Company Statement of Profit or Loss and Other Comprehensive Income

		Quarter ended 30 June		Year ended 31 March
		2022(Unaudited)	2021 (Unaudited)		2022 (Unaudited)	2021
					Change			Change
Turnover		92,756	146,068	(36.5%)	651,374	509,375	27.9%
Cost of Sales		(62,874)	(107,484)	(41.5%)	(482,110)	(370,415)	30.2%
Gross Profit					(22.6%)			21.8%
	29,881	38,584	169,264	138,960
Other Operating Income	6	6,621	7,652	(13.5%)	26,621	35,478	(25.0%)
		36,503		46,236	(21.1%)	195,885	174,438	12.3%
Less :Expenses
Administrative Expenses		(29,851)	(27,696)	7.8%	(115,184)	(113,947)	1.1%
Marketing Expenses		(633)	(6)	10442.9%	(6,803)	(2,929)	132.3%
					10.0%			4.4%
		(30,483)	(27,702)	(121,987)	(116,876)
Operating Profit		6,020		18,534	(67.5%)	73,897	57,562	28.4%
Finance Income	7a	18,089	7,233	150.1%	32,231	26,742	20.5%
Finance Cost	7b	(35,423)	(1,193)	2869.2%	(40,709)	(6,082)	569.3%
Profit before taxation					(146.0%)			(16.4%)
	(11,314)	24,574	65,419	78,222
Taxation		(27)	(6,605)	(99.6%)	(13,311)	(16,951)	(21.5%)
Profit after taxation					(163.1%)			(15.0%)
	(11,341)	17,969	52,108	61,271
Other Comprehensive Income
Revaluation of Property,Plant &
Equipment		‐		‐		‐	‐
Reversal of Deferred tax on Revalued
Assets		‐		‐		‐	‐
Reversal of Deferred tax on tax rate
change						‐	68,510
Defined Benefit Plan actuarial
gain/(loss)		36	463	(92.2%)	464	1,767	(73.7%)
Deferred Tax on Defined Benefit Plan
actuarial gain/(losses)		(9)	(111) (92.2%)	(111)	(424)	(73.7%)
Financial assets ‐ change in fair value		‐		‐		‐	‐
Other comprehensive income net of tax					92.2%			(99.5%)
	27	352	353	69,853
Total Comprehensive Income		(11,314)		18,321	(161.8%)	52,461	131,124	(60.0%)
Earnings Per Share (Rs.)				(163.1%)			(15.0%)
	‐0.95		1.50	4.34	5.11

Note: All values are in Rupees ʹ000s, unless otherwise stated.The above figures are subject to audit.

4	The Autodrome PLC									4
	Interim Report as at 30 June 2022
Group Statement of Profit or Loss and Other Comprehensive Income
			Quarter ended 30 June		Year ended 31 March
			2022	2021 (Unaudited)		2022 (Unaudited)	2021
		Note				Change				Change
	Turnover		93,122	146,153	(36.3%)	652,238		509,497	28.0%
	Cost of Sales		(62,874)	(107,484)	(41.5%)	(482,110)		(370,415)	30.2%
	Gross Profit					(21.8%)				22.3%
		30,247	38,669	170,128		139,082
	Other Operating Income	6	6,621	7,652	(13.5%)	26,486		35,478	(25.3%)
						(20.4%)				12.6%
			36,869	46,321	196,614		174,560
	Less :Expenses
	Administrative Expenses		(29,955)	(27,604)	8.5%	(115,647)		(114,549)	1.0%
	Marketing Expenses		(633)	(6)	10442.9%	(6,803)		(2,929)	132.3%
						10.8%				4.2%
			(30,587)	(27,610)	(122,450)		(117,478)
	Operating Profit		6,281		18,711	(66.4%)	74,164		57,082	29.9%
	Finance Income	7a	18,463	7,467	147.3%	33,326		27,891	19.5%
	Finance Cost	7b	(35,423)	(1,193)	2869.2%	(40,709)		(6,082)	569.3%
	Profit before taxation					(142.7%)				(15.4%)
		(10,678)	24,985	66,781		78,891
	Taxation		(180)	(6,659)	(97.3%)	(13,670)		(17,112)	(20.1%)
	Profit after taxation					(159.2%)				(14.0%)
		(10,858)	18,326	53,111		61,779
	Other Comprehensive Income
	Revaluation of Property, Plant & Equipment	‐		‐		‐	‐
	Reversal of Deferred Tax on Revalued Assets	‐		‐		‐	‐
	Reversal of Deferred Tax on tax rate change	‐		‐		‐	68,510
	Defined Benefit Plan actuarial gain/ (losses)	36	463	92.2%	464		1,767	(73.7%)
	Deferred tax on Defined Benefit Plan actuarial
	gain/(losses)		(9)	(111)	(92.2%)	(111)		(424)	(73.7%)
	Financial assets‐ change in fair value		‐		‐		‐	‐
	Reclassified to Income Statement		‐		‐		‐	‐
	Other Comprehensive Income net of tax		27	352	(92.2%)	353		69,853	(99.5%)
	Total Comprehensive Income					(158.0%)				(59.4%)
		(10,830)	18,678	53,464		131,632
	Earnings Per Share (Rs.)		(0.90)		1.53	(159.2%)	4.43		5.15	(14.0%)

Note: All values are in Rupees ʹ000s, unless otherwise stated. The above figures are subject to audit.