EX-PACK CORRUGATED CARTONS PLC
INTERIM CONDENSED FINANCIAL STATEMENTS NINE MONTHS ENDED 31 DECEMBER 2021
STATEMENT OF FINANCIAL POSITION
GROUP | COMPANY | ||||
As at | 31.12.2021 | 31.03.2021 | 31.12.2021 | 31.03.2021 | |
unaudited | audited | unaudited | audited | ||
ASSETS | |||||
Non-current assets | |||||
Property, plant, and equipment | 1,018,740 | 1,039,480 | 990,558 | 1,008,170 | |
Right-of-use assets | 103,510 | 100,815 | 37,922 | 45,937 | |
Investment properties | 382,000 | 382,000 | 382,000 | 382,000 | |
Intangible assets | 851 | 668 | 752 | 537 | |
Investment in subsidiaries | - | 205,000 | 205,000 | ||
Goodwill | 203,544 | 203,544 | - | ||
Deferred tax assets | 13,559 | 13,559 | - | ||
1,722,204 | 1,740,065 | 1,616,232 | 1,641,644 | ||
Current assets | |||||
Inventories | 870,430 | 764,636 | 707,286 | 681,765 | |
Trade and other receivables | 1,476,459 | 1,379,052 | 1,254,590 | 1,026,973 | |
Advances and prepayments | 274,949 | 34,108 | 261,932 | 49,155 | |
Other financial assets | 1,010,000 | 483,000 | 1,010,000 | 483,000 | |
Cash in hand and at bank | 248,254 | 94,741 | 167,682 | 84,592 | |
3,880,092 | 2,755,536 | 3,401,491 | 2,325,485 | ||
Total assets | 5,602,296 | 4,495,601 | 5,017,723 | 3,967,129 | |
EQUITY AND LIABILITIES | |||||
Equity | |||||
Stated capital | 1,200,000 | 500,000 | 1,200,000 | 500,000 | |
Revaluation reserves | 291,992 | 291,992 | 291,992 | 291,992 | |
Retained earnings | 220,846 | (8,552) | 137,194 | 46,788 | |
1,712,837 | 783,440 | 1,629,186 | 838,780 | ||
Non-current liabilities | |||||
Lease liabilities | 83,154 | 75,931 | 32,289 | 40,118 | |
Defined benefit obligations | 98,520 | 82,201 | 69,490 | 61,425 | |
Deferred tax liabilities | 72,543 | 73,639 | 72,543 | 73,639 | |
254,218 | 231,771 | 174,322 | 175,182 | ||
Current liabilities | |||||
Trade and other payables | 794,685 | 755,781 | 617,410 | 631,069 | |
Loans and borrowings | 2,772,352 | 2,676,692 | 2,547,076 | 2,274,181 | |
Income tax liabilities | 68,203 | 47,917 | 49,730 | 47,917 | |
3,635,240 | 3,480,390 | 3,214,215 | 2,953,167 | ||
Total equity and liabilities | 5,602,296 | 4,495,601 | 5,017,723 | 3,967,129 | |
LKR | LKR | LKR | LKR | ||
Net assets per share | 5.14 | 3.13 | 4.89 | 3.36 |
Note:
All values are in LKR '000s, unless otherwise stated.
The amounts are provisional and subject to audit.
I certify that the financial statements comply with the requirements of the Companies Act No.7 of 2007.
(Signed)
…………………………………………………………………
Abdul Latiff Ahamed
Head of Finance
The Board of Directors are responsible for these financial statements.
(Signed) | (Signed) |
………………………………. | ………………………………………. |
Zulficar Ghouse | Dinesh Dharmadasa |
Managing Director | Director |
14 February 2022 | Colombo |
1 | EX-PACKCORRUGATED CARTONS PLC | INTERIM CONDENSED FINANCIAL STATEMENTS NINE MONTHS ENDED 31 DECEMBER 2021
CONSOLIDATED INCOME STATEMENT
Quarter ended 31 December | Nine months ended 31 December | |||||
2021 | 2020 | Change | 2021 | 2020 | Change | |
% | % | |||||
Revenue | 2,369,269 | 1,189,811 | 99% | 5,841,941 | 3,255,743 | 79% |
Cost of sales | (2,001,633) | (948,030) | 111% | (4,877,273) | (2,635,183) | 85% |
Gross profit | 367,637 | 241,781 | 52% | 964,668 | 620,560 | 55% |
Other income and gains | 25,717 | 2,121 | 1112% | 41,288 | 4,362 | 846% |
Selling and distribution costs | (86,575) | (65,008) | 33% | (226,720) | (150,581) | 51% |
Administrative expenses | (104,756) | (71,753) | 46% | (266,978) | (205,785) | 30% |
Operating profit | 202,024 | 107,141 | 89% | 512,258 | 268,557 | 91% |
Finance cost | (49,036) | (54,881) | -11% | (137,916) | (170,090) | -19% |
Profit/(loss) before tax | 152,988 | 52,260 | 193% | 374,342 | 98,467 | 280% |
Tax expense | (27,039) | (2,733) | 889% | (48,277) | (3,934) | 1127% |
Profit/(loss) for the period | 125,948 | 49,527 | 154% | 326,064 | 94,533 | 245% |
Attributable to: | ||||||
Equity holders of the parent | 125,948 | 49,527 | 154% | 326,064 | 94,533 | 245% |
LKR | LKR | LKR | LKR | |||
Earnings per share | 0.45 | 0.20 | 129% | 1.26 | 0.38 | 233% |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Quarter ended 31 December | Nine months ended 31 December | |||
2021 | 2020 | 2021 | 2020 | |
Profit for the period | 125,948 | 49,527 | 326,064 | 94,533 |
Other comprehensive income for the period | - | - | - | - |
Total comprehensive income for the period | 125,948 | 49,527 | 326,064 | 94,533 |
Attributable to: | ||||
Equity holders of the parent | 125,948 | 49,527 | 326,064 | 94,533 |
Note:
All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The amounts are provisional and subject to audit.
2 | EX-PACKCORRUGATED CARTONS PLC | INTERIM CONDENSED FINANCIAL STATEMENTS NINE MONTHS ENDED 31 DECEMBER 2021
COMPANY INCOME STATEMENT
Quarter ended 31 December | Nine months ended 31 December | |||||
2021 | 2020 | Change | 2021 | 2020 | Change | |
% | % | |||||
Revenue | 1,386,957 | 857,009 | 62% | 3,705,947 | 2,316,575 | 60% |
Cost of sales | (1,136,984) | (653,393) | 74% | (3,030,842) | (1,787,021) | 70% |
Gross profit | 249,972 | 203,616 | 23% | 675,105 | 529,555 | 27% |
Other income and gains | 43,114 | 288 | 14876% | 65,277 | 1,926 | 3289% |
Selling and distribution costs | (80,555) | (61,656) | 31% | (212,873) | (141,534) | 50% |
Administrative expenses | (79,972) | (54,595) | 46% | (195,974) | (156,744) | 25% |
Operating profit | 132,560 | 87,652 | 51% | 331,535 | 233,204 | 42% |
Finance cost | (40,992) | (44,868) | -9% | (114,659) | (130,382) | -12% |
Profit/(loss) before tax | 91,568 | 42,784 | 114% | 216,876 | 102,821 | 111% |
Tax expense | (11,002) | (7,146) | 54% | (29,804) | (17,013) | 75% |
Profit/(loss) for the period | 80,566 | 35,639 | 126% | 187,073 | 85,809 | 118% |
Attributable to: | ||||||
Equity holders of the parent | 80,566 | 35,639 | 126% | 187,073 | 85,809 | 118% |
LKR | LKR | LKR | LKR | |||
Earnings per share | 0.29 | 0.14 | 104% | 0.72 | 0.34 | 110% |
COMPANY STATEMENT OF COMPREHENSIVE INCOME
Quarter ended 31 December | Nine months ended 31 December | |||
2021 | 2020 | 2021 | 2020 | |
Profit for the period | 80,566 | 35,639 | 187,073 | 85,809 |
Other comprehensive income for the period | - | - | - | - |
Total comprehensive income for the period | 80,566 | 35,639 | 187,073 | 85,809 |
Attributable to: | ||||
Equity holders of the parent | 80,566 | 35,639 | 187,073 | 85,809 |
Note:
All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The amounts are provisional and subject to audit.
3 | EX-PACKCORRUGATED CARTONS PLC | INTERIM CONDENSED FINANCIAL STATEMENTS NINE MONTHS ENDED 31 DECEMBER 2021
STATEMENT OF CASH FLOWS
GROUP | COMPANY | |||
For the nine months ended 31 December | 2021 | 2020 | 2021 | 2020 |
CASHFLOW FROM / (USED IN) OPERATING ACTIVITIES | ||||
Profit/(loss) before tax | 374,342 | 98,467 | 216,876 | 102,821 |
Adjustments for: | ||||
Depreciation of property, plant and equipment | 56,985 | 48,451 | 50,432 | 39,501 |
Amortization of right-of-use assets | 23,917 | 24,699 | 8,015 | 8,015 |
Amortization of intangible assets | 4,591 | 107 | 4,559 | - |
Provision of retirement benefit liability | 17,563 | 10,436 | 9,069 | 7,897 |
Profit/(Loss) on Disposal of Property, Plant and Equipment | 297 | - | 297 | - |
Lease interest | 9,915 | 11,016 | 4,402 | 5,136 |
Finance cost | 126,160 | 159,074 | 110,257 | 125,246 |
Operating profit before working capital changes | 613,770 | 352,249 | 403,907 | 288,617 |
(Increase)/Decrease in inventories | (105,795) | (92,031) | (25,522) | (115,382) |
(Increase)/Decrease in trade and other receivables | (100,474) | (4,724) | (207,617) | (7,338) |
(Increase)/Decrease in advances and prepayments | (228,565) | (155,574) | (231,955) | (167,197) |
Increase/(Decrease) in trade and other payables | 37,886 | (39,883) | (14,481) | 1,792 |
Cash generated from operations | 216,821 | 60,037 | (75,667) | 492 |
Gratuity paid | (1,244) | (9,444) | (1,003) | (10,607) |
Tax paid | (29,087) | - | (29,087) | - |
Finance cost paid | (126,160) | (159,074) | (110,257) | (125,246) |
Net cashflow from / (used in) operating activities | 60,330 | (108,480) | (216,014) | (135,361) |
CASHFLOW FROM / (USED IN) INVESTING ACTIVITIES | ||||
Acquisition of property, plant and equipment | (40,181) | (28,531) | (37,853) | (23,958) |
Acquisition of intangible assets | (438) | - | (438) | - |
Investing in fixed deposits | (527,000) | - | (527,000) | |
Proceeds from Sale of Property Plant and Equipment | 400 | - | 400 | - |
Net cashflow from / (used in) investing activities | (567,219) | (28,531) | (564,891) | (23,958) |
CASHFLOW FROM / (USED IN) FINANCING ACTIVITIES | ||||
Net Increase/(Decrease) in interest bearing loans and borrowings | 110,400 | 430,972 | 292,736 | 477,900 |
Proceeds From Issue of Shares | 700,000 | - | 700,000 | - |
Payment of finance lease liabilities | (32,202) | (27,844) | (10,944) | (10,260) |
Payment of dividend | (96,667) | (72,985) | (96,667) | (72,985) |
Net cashflow from / (used in) financing activities | 681,532 | 330,143 | 885,125 | 394,655 |
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS | 174,643 | 193,132 | 104,220 | 235,336 |
CASH AND CASH EQUIVALENTS AT THE BEGINNING | 73,611 | 106,774 | 63,462 | 55,749 |
CASH AND CASH EQUIVALENTS AT THE END | 248,254 | 299,907 | 167,682 | 291,085 |
Note:
All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The amounts are provisional and subject to audit.
4 | EX-PACKCORRUGATED CARTONS PLC | INTERIM CONDENSED FINANCIAL STATEMENTS NINE MONTHS ENDED 31 DECEMBER 2021
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Ex-Pack Corrugated Cartons Ltd. published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 14:12:02 UTC.