Autodrome : INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED 31.12.2022

THE AUTODROME PLC

INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS

ENDED 31.12.2022

The Autodrome PLC 304 Union Place, Colombo 02. Sri Lanka www.autodrome.lk/financial

The Autodrome PLC	1
Interim Report 31 December 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
	31.12.2022	31.12.2021	31.03.2022
	Rs.		Rs.			Rs.
Closing price	111.50	109.50	115.00
Highest price for the period	125.00	117.00	220.00
Lowest price for the period	75.10	80.00	65.00
No. of shares	12,000,000	12,000,000	12,000,000
Market Capitalization	1,338,000,000	1,314,000,000	1,380,000,000
Float Adjusted Market Capitalization	282,210,960	278,278,920	291,097,200
RATIOS
Net Assets per Share	165.12	150.18	151.22
Annualised Earnings per Share	0.94	1.82	4.24
Annualised Price Earning Ratio (times	118.31	60.16	27.12

Corporate Information

Company Registration Number PQ‐84 Stock Exchange: AUTO.N0000

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 Aloysius BA (USA)

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

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

Company Secretaries Accounting Systems and Secretarial Services (Pvt) Ltd.

Registered Office 304, Union Place, Colombo 2

Lawyers M/s. D.L. & F. de Saram, Attorneys‐at‐law

Auditors Ernst & Young, Chartered Accountants

Bankers Standard Chartered 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 31 December 2022

Statement of Financial Position

			Company	Group
Company	Group		Unaudited		Unaudited	Unaudited	Unaudited
Audited	Audited		as at		as at	as at	as at
31.03.2022	31.03.2022		31.12.2022	31.12.2021	31.12.2022			30.12.2021
			Rs.ʹ000		Rs.ʹ000	Rs.ʹ000	Rs.ʹ000
		Assets
		Non‐current assets
2,042,125	2,042,125	Property, Plant & Equipment	2,030,954	1,825,156	2,030,954			1,825,156
14	14	Intangible Assets	8	29	8			29
500	‐	Investments	500	500	‐	‐
73,406	80,506	Other Financial Assets	148,154	128,064	155,254			135,164
2,116,045	2,122,645		2,179,617	1,953,749	2,186,217			1,960,349
		Current Assets
65,702	65,702	Inventories	48,336	50,232	48,336			50,232
27,895	28,407	Trade Receivables & Other Receivables	6,714	48,966	6,300			49,744
398,837	402,832	Other Financial Assets	290,560	273,799	296,912			277,830
28,308	31,312	Cash and Cash Equivalents	1,089	28,484	4,159			29,416
520,742	528,253		346,699		401,481	355,707			407,222
		Total Assets
2,636,787	2,650,898	2,526,316	2,355,229	2,541,924			2,367,571
		Equity and Liabilities
		Capital and Reserves
12,440	12,440	Stated Capital	12,440	12,440	12,440			12,440
1,430,816	1,430,816	Revaluation Reserve	1,427,982	1,263,577	1,427,982			1,263,577
528,180	540,019	Revenue Reserves	540,986	526,195	554,259			537,734
		Shareholdersʹ Funds
1,971,436	1,983,275	1,981,409		1,802,212	1,994,681			1,813,751
		Non‐current Liabilities
467,648	467,648	Deferred Taxation	466,756	419,236	466,756			419,236
21,907	21,907	Retirement Benefit Obligations	22,886	28,060	22,886			28,060
489,555	489,555	Current Liabilities	489,643	447,296	489,643			447,296
163,324	165,846	Trade and Other Payables	30,271	89,473	32,141			90,016
12,472	12,222	Current Tax Liability	4,470	10,846	4,935			11,106
‐	‐	Bank Overdraft	20,524	5,402	20,524			5,402
175,796	178,068		55,264		105,721	57,599			106,524
665,351	667,623	Total Liabilities	544,907	553,017	547,242			553,820
		Total Equity and Liabilities	2,526,316	2,355,229	2,541,923			2,367,571
2,636,787	2,650,898

The Statement of Financial Position as at 31st December 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 Companies Act No.7 of 2007.

Rajeev Aloysius	Jeremy Aloysius
Jt. Managing Director / CFO	Jt. Managing Director
24 January 2023

The Autodrome PLC	3
Interim Report 31 December 2022

Company Statement of Proft or Loss & Other Comprehensive Income

Y/E 31.03.2022			Quarter ended 31 December		Nine Months ended 31 December
Audited		Notes	2022 (Unaudited) 2021 (Unaudited)	Change	2022 (Unaudited)	2021 (Unaudited)	Change
651,374	Turnover			38,200	158,655	(75.9%)	168,308	473,443	(64.5%)
(482,111)	Cost of Sales			(21,873)	(114,410)	(80.9%)	(109,363)	(348,979)	(68.7%)
	Gross Profit						(63.1%)					(52.6%)
169,263			16,327		44,245		58,945		124,464
26,621	Other Operating Income			7,324	6,521	12.3%	20,972	21,390	(2.0%)
195,884				23,651		50,766	(53.4%)		79,917		145,854	(45.2%)
	Less :Expenses
(112,522)	Administrative Expenses			(35,691)	(30,750)	16.1%	(94,104)	(84,519)	11.3%
(6,802)	Marketing Expenses			(542)	(5,084)	(89.3%)	(1,379)	(5,514)	(75.0%)
						1.1%				6.1%
(119,324)				(36,233)		(35,834)		(95,483)		(90,033)
76,560	Operating Profit			(12,582)		14,932	(184.3%)		(15,566)		55,821	(127.9%)
32,153	Finance Income	7		25,185	7,675	228.1%	65,689	21,818	201.1%
(40,632)	Finance Cost	8		(535)	(61)	776.8%	(36,206)	(8,578)	322.1%
	Profit before taxation					(46.5%)				(79.8%)
68,081			12,069		22,546		13,918		69,061
(19,281)	Taxation			(3,587)	(6,190)	(42.1%)	(4,027)	(19,227)	(79.1%)
	Profit after taxation						(48.1%)					(80.2%)
48,800			8,482	16,356	9,891	49,834
	Other Comprehensive Income
219,912	Revaluation of Property,Plant & Equipment	‐		‐			‐		‐
(52,779)	Deferred Tax on Property Revaluation		‐		‐			‐		‐
	Reversal of Deferred tax on Revalued Assets	‐		‐
4,576	Defined Benefit Plan actuarial gain/ (losses)	72		‐		108	464	(76.8%)
	Deferred tax on Defined Benefit Plan
(1,098)	actuarial gain/(losses)			(9)		‐		(26)	(111)	(76.8%)
170,611	Other comprehensive income net of tax									(76.8%)
	63		‐			82		353
219,411	Total Comprehensive Income			8,545		16,356			9,973		50,187
4.07	Earnings Per Share (Rs.)			0.71		1.36	(48.1%)		0.82		4.15	(80.2%)

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

The Autodrome PLC	4
Interim Report 31 December 2022

Group Statement of Profit or Loss & Other Comprehensive Income

Y/E 31.03.2022			Quarter ended 31 December		Nine Months ended 31 December
Audited		Notes	2022 (Unaudited) 2021 (Unaudited)	Change	2022 (Unaudited)	2021 (Unaudited)	Change
652,237	Turnover			38,619	158,974	(75.7%)	170,137	474,064	(64.1%)
(482,111)	Cost of Sales			(21,873)	(114,410)	(80.9%)	(109,363)	(348,979)	(68.7%)
	Gross Profit						(62.4%)					(51.4%)
170,126			16,746		44,564		60,774		125,085
26,286	Other Operating Income			7,224	6,386	13.1%	20,671	21,255	(2.7%)
						(53.0%)				(44.3%)
				23,970		50,950		81,445		146,340
	Less :Expenses
(112,784)	Administrative Expenses			(35,842)	(30,668)	16.9%	(94,456)	(84,319)	12.0%
(6,802)	Marketing Expenses			(542)	(5,084)	(89.3%)	(1,379)	(5,514)	(75.0%)
						1.8%				6.7%
(119,586)				(36,384)		(35,752)		(95,835)		(89,833)
76,826	Operating Profit			(12,414)		15,198	(181.7%)		(14,390)		56,507	(125.5%)
33,334	Finance Income	7		25,746	7,952	223.8%	67,059	22,633	196.3%
(40,632)	Finance Cost	8		(535)	(61)	776.8%	(36,206)	(8,578)	322.1%
	Profit before taxation					(44.6%)				(76.7%)
69,528			12,797		23,089		16,463		70,562
(19,640)	Taxation			(3,762)	(6,312)	(40.4%)	(4,638)	(19,523)	(76.2%)
	Profit after taxation						(46.1%)					(76.8%)
49,888			9,035	16,777	11,825	51,039
	Other Comprehensive Income
219,912	Revaluation of Property,Plant & Equipment	‐		‐			‐		‐
(52,779)	Deferred Tax on Property Revaluation		‐		‐			‐		‐
‐	Reversal of Deferred tax on Revalued Assets	‐		‐			‐		‐
4,576	Acturial Gain/(Loss) on Defined Benefit Plan	72		‐		108	464	(76.8%)
(1,098)	Income tax effect			(9)		‐		(26)	(111)	(76.8%)
170,611	Other comprehensive income net of tax		63		‐		82	353	(76.8%)
	Total Comprehensive Income
220,499			9,098	16,777		11,907	51,392
	Earnings Per Share (Rs.)						(46.1%)					(76.8%)
4.16			0.75	1.40	0.99	4.25

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