Colombo Dockyard PLC
"…An Odyssey of Excellence…"
Interim Financial Report
For the Twelve Months Period Ended 31 December 2021
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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Quarter ended 31 December | Year Ended 31 st December | |||||
2021 | 2020 | Variance % | 2021 | 2020 | Variance % | |
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |||
Revenue | 5,434,291 | 2,640,165 | 105.83% | 17,031,726 | 9,674,445 | 76.05% |
Cost of Sales | (4,695,140) | (2,349,519) | -99.83% | (14,610,012) | (8,657,320) | -68.76% |
Gross Profit | 739,151 | 290,646 | 154.31% | 2,421,714 | 1,017,125 | 138.09% |
Other Income | 131,010 | 35,742 | 266.54% | 369,614 | 168,697 | 119.10% |
Distribution Expenses | (5,458) | 9,237 | 159.09% | (16,726) | (15,196) | -10.07% |
Administrative Expenses | (707,683) | (470,123) | -50.53% | (2,635,771) | (2,044,407) | -28.93% |
Other Operating Expenses | (30,913) | 7,624 | -505.47% | (25,228) | 7,624 | -430.90% |
Net Finance Income / (Expenses) | 273,852 | (263,437) | 203.95% | 287,813 | (140,356) | 305.06% |
Profit / (Loss) before Tax | 399,959 | (390,311) | 202.47% | 401,416 | (1,006,513) | 139.88% |
Income Tax Expense | (55,911) | (45,867) | -21.90% | (135,833) | (154,623) | 12.15% |
Profit / (Loss) for the period | 344,048 | (436,178) | -178.88% | 265,583 | (1,161,136) | 122.87% |
Other Comprehensive Income | ||||||
Cash Flow Hedge - Effective portion of changes in fair value | 118,170 | (104,143) | 123,490 | (104,143) | ||
Fair Value Change of instruments valued at FVOCI | (501) | (57) | (501) | (57) | ||
Foreign Currency Translation Differences - Foreign Operations | (2,582) | (2,173) | 11,647 | 5,153 | ||
Defined benefit plan actuarial gains / (losses) | (27,529) | (177,620) | (27,529) | (177,620) | ||
Tax on other comprehensive income | 3,469 | 24,675 | 3,469 | 24,675 | ||
Other Comprehensive Income For The Period - Net of Taxes | 91,027 | (259,318) | 110,576 | (251,992) | ||
Total Comprehensive Income for The Period | 435,075 | (695,496) | 376,159 | (1,413,128) | ||
Profits Attributable to : | ||||||
Owners of The Company | 341,421 | (434,579) | 252,677 | (1,161,871) | ||
Non - Controlling Interest | 2,627 | (1,599) | 12,906 | 735 | ||
Profit for the period | 344,048 | (436,178) | 265,583 | (1,161,136) | ||
Total Comprehensive Income Attributable to : | ||||||
Equity holders of the parent | 433,957 | (694,378) | 358,020 | (1,416,388) | ||
Non - Controlling Interest | 1,118 | (1,118) | 18,139 | 3,260 | ||
Total Comprehensive Income for The Period | 435,075 | (695,496) | 376,159 | (1,413,128) | ||
Earnings per share (Rs) | 4.75 | (6.05) | 3.52 | (16.17) | ||
Note : Figures in brackets indicate deductions | ||||||
The above figures are subject to audit |
01. Colombo Dockyard PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 31st December | 2021 | 2020 |
Rs,'000 | Rs,'000 | |
ASSETS | ||
Non-Current Assets | 5,407,690 | |
Property, Plant and Equipment | 5,407,003 | |
Intangible Assets | 46,106 | 2,302 |
Right - of - Use asset | 175,116 | 243,362 |
Investments Classified as Fair Value through OCI | 17,463 | 17,964 |
Differed Tax Assets | 64,423 | 154,854 |
Other Financial Assets Including Derivatives | 453,778 | 502,681 |
Total Non-Current Assets | 6,164,576 | 6,328,166 |
Current Assets | 2,262,469 | |
Inventories | 1,144,194 | |
Trade and Other Receivables | 11,123,517 | 5,576,996 |
Other Financial Assets Including Derivatives | 366,252 | 354,961 |
Investments classified as Fair value Through Profit or Loss | 100,000 | 112,250 |
Cash and Cash Equivalents | 7,083,997 | 4,539,504 |
Total Current Assets | 20,936,235 | 11,727,905 |
Total Assets | 27,100,811 | 18,056,071 |
EQUITY AND LIABILITIES | 714,396 | |
Stated Capital | 714,396 | |
Exchange Equalisation Reserve | 31,659 | 25,245 |
Fair Value through OCI Reserve | 17,353 | 17,854 |
Cash flow Hedge Reserve | - | (123,490) |
Retained Earnings | 6,512,994 | 6,284,377 |
Equity Attributable to Equity Holders of the Parent | 7,276,402 | 6,918,382 |
Non Controlling Interest | 102,535 | 84,396 |
Total Equity | 7,378,937 | 7,002,778 |
Non-Current Liabilities | 156,812 | |
Lease liability | 186,266 | |
Employee Benefits | 998,225 | 1,040,610 |
Total Non-Current Liabilities | 1,155,037 | 1,226,876 |
Current Liabilities | ||
Interest Bearing Borrowings | 11,025,150 | 6,441,816 |
Trade and Other Payables | 7,286,232 | 3,050,159 |
Other Financial Liabilities Including Derivatives | - | 199,141 |
Lease liability | 29,454 | 26,696 |
Income Tax Payable | 37,216 | 71,537 |
Dividends Payable | 9,869 | 10,991 |
Bank Overdrafts | 178,916 | 26,077 |
Total current Liabilities | 18,566,837 | 9,826,417 |
Total Equity and Liabilities | 27,100,811 | 18,056,071 |
Net Assets per share (Rs) | 101.26 | 96.28 |
Note :The above figures are subject to audit
These Financial Statements have been prepared in compliance with the Companies Act No. 7 of 2007
(Sgd.) P D Gihan Ravinatha
General Manager (Finance) / CFO
(Sgd.) H Tanaka | (Sgd,) D V Abeysinghe |
Chairman | Managing Director / CEO |
March 07, 2022 Colombo |
02. Colombo Dockyard PLC
STATEMENT OF CHANGES IN EQUITY - GROUP
For the year 31st December | Retained | Fair Value | Exchange | Cash Flow | Non | |||
Stated Capital | Through OCI | fluctuation | Hedge | Total | Controlling | Total Equity | ||
earnings | ||||||||
Reserves | Reserve | Reserve | Interest | |||||
Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | Rs,'000 | |
As at 1 January 2021 | 714,396 | 6,284,377 | 17,854 | 25,245 | (123,490) | 6,918,382 | 84,396 | 7,002,778 |
Net Profit for the Period | - | 252,677 | - | - | - | 252,677 | 12,906 | 265,583 |
Other Comprehensive Income | - | (24,060) | (501) | 6,414 | 123,490 | 105,343 | 5,233 | 110,576 |
As at 31 December 2021 | 714,396 | 6,512,994 | 17,353 | 31,659 | - | 7,276,402 | 102,535 | 7,378,937 |
As at 1 January 2020 | 714,396 | 7,599,193 | 17,911 | 22,617 | (19,347) | 8,334,770 | 81,136 | 8,415,906 |
Net Profit / (Loss) for the Period | - | (1,161,871) | - | - | - | (1,161,871) | 735 | (1,161,136) |
Other Comprehensive Income | - | (152,945) | (57) | 2,628 | (104,143) | (254,517) | 2,525 | (251,992) |
As at 31December 2020 | 714,396 | 6,284,377 | 17,854 | 25,245 | (123,490) | 6,918,382 | 84,396 | 7,002,778 |
03. Colombo Dockyard PLC
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Colombo Dockyard plc published this content on 07 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2022 11:09:06 UTC.