Alumex PLC
Interim Report
Second Quarter
Six Months Ended 30th September, 2022
ALUMEX PLC | Page 1
Income Statements
For the period ended 30th September, 2022
Consolidated | Consolidated | Consolidated | |||||||||||||||||||||
Audited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||||||||
year ended | 6 months to | 6 months to | 3 months to | 3 months to | |||||||||||||||||||
31.03.22 | 30.09.22 | 30.09.21 | Change | 30.09.22 | 30.09.21 | Change | |||||||||||||||||
Rs.'000 | Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | |||||||||||||||||
9,595,282 | Revenue | 5,209,438 | 3,927,490 | 33 | 2,297,508 | 2,423,012 | (5) | ||||||||||||||||
(7,316,667) | Cost of sales | (4,467,489) | (3,040,536) | 47 | (1,985,739) | (1,850,263) | 7 | ||||||||||||||||
2,278,615 | Gross profit | 741,948 | 886,954 | (16) | 311,768 | 572,749 | (46) | ||||||||||||||||
53,141 | Other income | 34,296 | 13,566 | >100 | 19,973 | 8,852 | >100 | ||||||||||||||||
(267,516) | Distribution expenses | (145,854) | (109,488) | 33 | (70,246) | (54,759) | 28 | ||||||||||||||||
(576,512) | Administrative expenses | (259,906) | (263,655) | (1) | (110,516) | (127,654) | (13) | ||||||||||||||||
1,487,728 | Results from operating activities | 370,485 | 527,377 | (30) | 150,979 | 399,188 | (62) | ||||||||||||||||
452,482 | Finance Income | 12,788 | 11,403 | 12 | 8,049 | 3,342 | >100 | ||||||||||||||||
(558,455) | Finance Costs | (373,171) | (115,141) | >100 | (310,419) | (53,438) | >100 | ||||||||||||||||
(105,973) | Net finance costs | (360,383) | (103,738) | >100 | (302,370) | (50,096) | >100 | ||||||||||||||||
1,381,755 | Profit before tax | 10,102 | 423,638 | (98) | (151,390) | 349,092 | >100 | ||||||||||||||||
(229,849) | Tax (expense)/Reversal | (1,725) | (73,156) | (98) | 27,692 | (63,609) | >100 | ||||||||||||||||
Profit for the period | (98) | >100 | |||||||||||||||||||||
1,151,906 | 8,377 | 350,482 | (123,698) | 285,483 | |||||||||||||||||||
Attributable to: | |||||||||||||||||||||||
1,151,906 | Owners of the Company | 8,377 | 350,482 | (98) | (123,698) | 285,483 | >100 | ||||||||||||||||
Earnings per share | |||||||||||||||||||||||
1.92 | Basic earnings per share (Rs.) | 0.01 | 0.59 | (0.21) | 0.48 | ||||||||||||||||||
Statements of Comprehensive Income | |||||||||||||||||||||||
Consolidated | Consolidated | Consolidated | |||||||||||||||||||||
Audited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||||||||||
year ended | 6 months to | 6 months to | 3 months to | 3 months to | |||||||||||||||||||
31.03.22 | 30.09.22 | 30.09.21 | Change | 30.09.22 | 30.09.21 | Change | |||||||||||||||||
Rs.'000 | Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | |||||||||||||||||
1,151,906 | Profit for the Period | 8,377 | 350,482 | (98) | (123,698) | 285,483 | >100 | ||||||||||||||||
Other Comprehensive income | |||||||||||||||||||||||
(12,394) | Actuarial gains / (losses) on defined benefit plans | - | - | - | - | - | |||||||||||||||||
2,200 | Income tax effect on actuarial gains / (losses) | - | - | - | - | - | |||||||||||||||||
152,952 | Revaluation of land | - | - | - | - | - | |||||||||||||||||
(27,149) | Income tax effect on revaluation surplus | - | - | - | |||||||||||||||||||
115,609 | Other comprehensive income for the period, ne | - | - | - | - | - | |||||||||||||||||
1,267,515 | Total comprehensive income for the period, net | 8,377 | 350,482 | (98) | (123,698) | 285,483 | >100 | ||||||||||||||||
Attributable to | |||||||||||||||||||||||
1,267,515 | Owners of the parent | 8,377 | 350,482 | (123,698) | 285,483 | ||||||||||||||||||
ALUMEX PLC | Page 2
Income Statements
For the period ended 30th September, 2022
Company | Company | Company | ||||||||||||||||||||
Audited | Unaudited | Unaudited | Unaudited | Unaudited | ||||||||||||||||||
year ended | 6 months to | 6 months to | 3 months to | 3 months to | ||||||||||||||||||
31.03.22 | 30.09.22 | 30.09.21 | Change | 30.09.22 | 30.09.21 | Change | ||||||||||||||||
Rs.'000 | Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | ||||||||||||||||
9,042,944 | Revenue | 5,209,438 | 3,711,823 | 40 | 2,297,508 | 2,244,278 | 2 | |||||||||||||||
(7,027,596) | Cost of sales | (4,467,489) | (2,922,957) | 53 | (1,985,739) | (1,725,603) | 15 | |||||||||||||||
2,015,348 | Gross profit | 741,948 | 788,866 | (6) | 311,768 | 518,675 | (40) | |||||||||||||||
51,973 | Other income | 34,296 | 13,566 | >100 | 19,973 | 8,852 | >100 | |||||||||||||||
(261,289) | Distribution expenses | (145,854) | (106,681) | 37 | (70,246) | (53,497) | 31 | |||||||||||||||
(554,063) | Administrative expenses | (259,906) | (253,023) | 3 | (110,516) | (122,647) | (10) | |||||||||||||||
1,251,969 | Results from operating activities | 370,485 | 442,727 | (16) | 150,979 | 351,383 | (57) | |||||||||||||||
440,172 | Finance Income | 12,788 | 11,359 | 13 | 8,049 | 3,406 | >100 | |||||||||||||||
(535,723) | Finance Costs | (373,171) | (110,763) | >100 | (310,419) | (50,770) | >100 | |||||||||||||||
(95,551) | Net finance costs | (360,383) | (99,404) | >100 | (302,370) | (47,364) | >100 | |||||||||||||||
1,156,418 | Profit before tax | 10,102 | 343,324 | (97) | (151,390) | 304,019 | >100 | |||||||||||||||
(189,670) | Tax (expense)/Reversal | (1,725) | (61,725) | (97) | 27,692 | (56,061) | >100 | |||||||||||||||
966,748 | Profit for the period | 8,377 | 281,599 | (97) | (123,698) | 247,958 | >100 | |||||||||||||||
Attributable to: | ||||||||||||||||||||||
Owners of the Company | 8,377 | 281,599 | (97) | (123,698) | 247,958 | >100 | ||||||||||||||||
Earnings per share | ||||||||||||||||||||||
1.62 | Basic earnings per share (Rs.) | 0.01 | 0.47 | (0.21) | 0.41 | |||||||||||||||||
Statements of Comprehensive Income | ||||||||||||||||||||||
Company | Company | Company | ||||||||||||||||||||
Audited | Unaudited | Unaudited | Unaudited | Unaudited | ||||||||||||||||||
year ended | 6 months to | 6 months to | 3 months to | 3 months to | ||||||||||||||||||
31.03.22 | 30.09.22 | 30.09.21 | Change | 30.09.22 | 30.09.21 | Change | ||||||||||||||||
Rs.'000 | Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | ||||||||||||||||
966,748 | Profit for the Period | 8,377 | 281,599 | (97) | (123,698) | 247,958 | >100 | |||||||||||||||
Other Comprehensive income | ||||||||||||||||||||||
(7,870) | Actuarial gains / (losses) on defined benefit plans | - | - | - | - | - | ||||||||||||||||
1,397 | Income tax effect on actuarial gains / (losses) | - | - | - | - | - | ||||||||||||||||
139,952 | Revaluation of land | - | - | - | - | - | ||||||||||||||||
(24,841) | Income tax effect on revaluation surplus | - | - | - | ||||||||||||||||||
108,638 | Other comprehensive income for the period, ne | - | - | - | - | - | ||||||||||||||||
1,075,386 | Total comprehensive income for the period, net | 8,377 | 281,599 | (97) | (123,698) | 247,958 | >100 | |||||||||||||||
Attributable to | ||||||||||||||||||||||
1,075,386 | Owners of the parent | 8,377 | 281,599 | (123,698) | 247,958 | |||||||||||||||||
ALUMEX PLC | Page 3
Statements of Financial Position
Consolidated | Company | Company | Consolidated | ||||||
Audited | Audited | Unaudited | Unaudited | Unaudited | |||||
as at | as at | as at | as at | as at | |||||
31.03.22 | 31.03.22 | 30.09.22 | 30.09.21 | 30.09.21 | |||||
(Restated) | (Restated) | ||||||||
Rs.'000 | Rs.'000 | Notes | Rs.'000 | Rs.'000 | Rs.'000 |
ASSETS | ||
Non - current assets | ||
4,390,421 | 4,166,241 | Property, plant & equipment |
272,775 | 272,775 | Right of use asset/Lease Asset |
88,868 | 88,868 | Intangible assets |
- 30,000 Investments in subsidiaries
4,752,064 4,557,884 Total non-current assets
Current assets | ||
3,602,127 | 3,247,592 | Inventories |
1,586,449 | 1,347,316 | Trade and other receivables |
1,262,417 | 1,240,377 | Advances and prepayments |
- | - | Income tax recoverable |
866,243 | 843,214 | Cash & cash equivalents |
7,317,236 | 6,678,499 | Total current assets |
12,069,300 | 11,236,383 | Total assets |
EQUITY AND LIABILITIES
4,593,459 | 3,502,087 | 3,706,298 |
261,602 | 185,540 | 185,540 |
86,583 | 102,254 | 102,254 |
- | 30,000 | - |
4,941,644 | 3,819,881 | 3,994,092 |
4,158,326 | 2,919,870 | 3,405,631 |
1,087,971 | 781,490 | 943,363 |
1,060,077 | 601,097 | 626,421 |
46,708 | - | 2,249 |
508,023 | 730,486 | 766,355 |
6,861,105 | 5,032,942 | 5,744,019 |
11,802,751 | 8,852,824 | 9,738,111 |
283,735 | 283,735 | Stated capital | 5 | 283,735 | 283,735 | 283,735 |
228,056 | 228,056 | Capital reserves | 228,056 | 228,056 | 228,056 | |
755,057 | 711,715 | Other components of equity | 731,065 | 604,534 | 631,896 | |
2,615,154 | 1,732,361 | Revenue reserves | 2,445,041 | 1,222,092 | 1,997,616 | |
Total equity attributable to | ||||||
3,882,002 | 2,955,867 | owners of the parent | 3,687,897 | 2,338,417 | 3,141,303 |
-
- Non- controlling interest
3,882,002 2,955,867 Total Equity
Non - current liabilities
- | - | - |
3,687,897 | 2,338,417 | 3,141,303 |
1,128,989 | 1,128,989 | Interest bearing borrowings | 878,856 | 978,522 | 978,522 |
286,046 | 286,046 | Non Current Portion of Lease Liabilities | 281,391 | 188,920 | 188,920 |
166,265 | 148,940 | Employee benefit obligations | 176,673 | 135,857 | 148,903 |
238,321 | 245,033 | Deferred tax liability | 271,019 | 226,784 | 223,717 |
1,819,621 | 1,809,008 | Total non-current liabilities | 1,607,938 | 1,530,083 | 1,540,063 |
Current liabilities | |||||
2,614,366 | 2,951,594 | Trade and other payables | 2,277,638 | 2,536,027 | 2,467,953 |
651,392 | 651,392 | Current portion of long term interest bearing borrowings | 573,067 | 858,617 | 858,617 |
17,301 | 17,301 | Current Portion of Lease Liability | 17,301 | 17,301 | 17,301 |
2,839,651 | 2,642,751 | Short-term interest bearing borrowings | 3,617,551 | 1,429,319 | 1,552,703 |
19,687 | 17,093 | Provisions | 21,359 | 15,136 | 17,190 |
225,280 | 191,377 | Income tax payable | - | 127,923 | 142,980 |
6,367,677 | 6,471,508 | Total current liabilities | 6,506,915 | 4,984,323 | 5,056,744 |
8,187,298 | 8,280,516 | Total liabilities | 8,114,854 | 6,514,406 | 6,596,808 |
12,069,300 | 11,236,383 | Total equity and liabilities | 11,802,751 | 8,852,824 | 9,738,111 |
The Financial Position as at 30th September, 2022 and Income Statements ,Statements of Comprehensive Income, Changes in Equity and Cash Flow for the six months then ended are drawn up from the unaudited financial statements of the Company, its Subsidiaries and they provide the information required by the Colombo Stock Exchange.
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act no 7 of 2007 .
*Alco Industries (Private) Limited a wholly owned subsidiary of Alumex PLC was amalgamated with Alumex PLC with effect from effect from 23rd August 2022 in terms of Section 242 of the Companies Act No 7 of 2007 and continue as Alumex PLC, hence no Consolidated Statements of Financial Position was presented as at 30th September 2022.
Sgd
R P P K Rajapaksha
Director / Chief Financial Officer
Signed for and on behalf of the Board
Sgd | Sgd |
A M Pandithage | D W P N Dediwela |
Chairman | Managing Director |
27th October 2022 |
ALUMEX PLC | Page 4
Statements of Changes in Equity
For the period ended 30th September, 2022
Consolidated
Attributable to owners of the parent | ||||||
Stated | Capital | Revaluation | Retained | Shareholders' | Total | |
capital | reserve | reserve | earnings | Funds | Equity | |
Rs. '000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Balance as at 1st at April, 2022 (Adjusted) | 283,735 | 228,056 | 731,065 | 2,586,316 | 3,829,172 | 3,829,172 |
Profit for the period | - | - | - | 8,377 | 8,377 | 8,377 |
Other Comprehensive income | ||||||
Actuarial gains / (losses) on defined benefit plans | - | - | - | - | - | - |
Income tax effect on actuarial gains / (losses) | - | - | - | - | - | - |
Revaluation of land | - | - | - | - | - | - |
Income tax effect on Revaluation surplus | - | - | - | - | - | - |
Total other comprehensive income | - | - | - | - | - | - |
Total Comprehensive income for the period | - | - | - | 8,377 | 8,377 | 8,377 |
Transactions with owners, recorded directly in equity | ||||||
Dividends to equity holders | - | - | - | (149,651) | (149,651) | (149,651) |
Transfers | - | - | - | - | - | - |
Total contributions by and distributions to owners | - | - | - | (149,651) | (149,650) | (149,650) |
Balance as at 30th September 2022 (Adjusted) | 283,735 | 228,056 | 731,065 | 2,445,041 | 3,687,898 | 3,687,897 |
- Alco Industries (Private) Limited ("Alco") a wholly owned subsidiary of Alumex PLC was amalgamated with Alumex PLC with effect from effect from 23rd August 2022 in terms of Section 242 of the Companies Act No 7 of 2007 and continue as Alumex PLC, hence as at 30th September 2022, the Statements of Changes in Equity of Consolidated and Company are equal.
Balance as at 1st at April, 2021 | 283,735 | 228,056 | 634,539 | 1,827,320 | 2,973,650 | 2,973,650 |
Charge relating to Surcharge Tax | - | - | - | (63,108) | (63,108) | (63,108) |
Balance as at 1st at April, 2021 (Adjusted) | 283,735 | 228,056 | 634,539 | 1,764,212 | 2,910,542 | 2,910,542 |
- | - | |||||
Profit for the period | - | - | - | 350,482 | 350,482 | 350,482 |
Other Comprehensive income | ||||||
Actuarial gains / (losses) on defined benefit plans | - | - | - | - | - | - |
Income tax effect on actuarial gains / (losses) | - | - | - | - | - | - |
Revaluation of land | - | - | - | - | - | - |
Income tax effect on Revaluation surplus | - | - | - | - | - | - |
Total other comprehensive income | - | - | - | - | - | - |
Total Comprehensive income for the period | - | - | - | 350,482 | 350,482 | 350,481 |
- | - | |||||
Transactions with owners, recorded directly in equity | ||||||
Dividends to equity holders | - | - | - | (119,721) | (119,721) | (119,721) |
Transfers | (2,643) | 2,643 | - | - | ||
Total contributions by and distributions to owners | - | - | (2,643) | (117,078) | (119,721) | (119,721) |
Balance as at 30th September 2021 (Adjusted) | 283,735 | 228,056 | 631,896 | 1,997,616 | 3,141,303 | 3,141,303 |
ALUMEX PLC | Page 5
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Alumex plc published this content on 27 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2022 11:05:07 UTC.