RENUKA AGRI FOODS PLC
INTERIM FINANCIAL STATEMENTS - FOR THE PERIOD ENDED
31st DECEMBER 2022
CONTENT: Operational Review-2 Statements of Profit or Loss and Other Comprehensive Income - 3
Statements of Financial Position - 4
Statements of Changes in Equity - 5 Statements of Cash Flows - 6 Segment Information - 7 Notes to the Financial Statements - 8-9 20 Top Shareholders - 10 Corporate Information - 11
Operational Review
Interim Financial Statements for the Period Ended 31st December 2022
Analysis on Statement of Financial Position
Total Assets
Total Assets of the Group have increased by Rs. 1,262 Mn from Rs. 7,249 Mn as at 31st March 2022 to Rs. 8,511 Mn as at 31st December 2022. Total Non Current Assets were Rs. 4,387 Mn and Total Current Assets were Rs. 4,124 Mn as at 31st December 2022.
Equity Attributable to Owners of the Company
Equity attributable to Owners of the Company increased by Rs. 465 Mn from Rs. 3,687 Mn as at 31st March 2022 to Rs. 4,152 Mn as at 31st December 2022.
Net Asset Value Per Share (NAVPS)
The NAVPS increased to Rs. 7.39 as at 31st December 2022 compared with Rs. 6.56 per share recorded as at 31st March 2022.
Analysis on Statement of Profit or Loss and Other Comprehensive Income
Revenue | Expenses |Profit / (Loss) After Tax
Group revenue decreased by 4% to Rs. 1,618 Mn for the quarter ended 31st December 2022 compared with Rs. 1,682 Mn in the corresponding quarter of the previous year. The composition of the Group Revenue for the quarter is 80% from export revenue and 20% from local revenue.
Total direct and other operational expenses have decreased by 2% to Rs. 1,420 Mn for the quarter ended 31st December 2022 compared with Rs. 1,444 Mn in the comparable period in the previous year.
Earnings Before Interest, Tax and Depreciation
The Group reported Earnings Before Interest, Tax and Depreciation for the period amounting to Rs. 246 Mn for the quarter ended 31st December 2022 compared with the Rs. 311 Mn reported in the corresponding quarter of the previous year
Profit / (Loss) After Tax
The Group reported a Profit for the period amounting to Rs. 38 Mn for the quarter ended 31st December 2022 compared with the Profit of Rs. 204 Mn reported in the corresponding quarter of the previous year.
Earnings / (Loss) Per Share
Earnings per Share was Rs. 0.03 for the quarter ended 31st December 2022, compared with earnings per Share of Rs. 0.33 in the corresponding quarter of the previous year.
Page 2 of 11 | INTERIM FINANCIAL STATEMENTS |
RENUKA AGRI FOODS PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31ST DECEMBER | GROUP | COMPANY | ||||||||
Rs.'000' | Rs.'000' | Rs.'000' | Rs.'000' | |||||||
QUARTER ENDED | PERIOD ENDED | QUARTER ENDED | PERIOD ENDED | |||||||
31.12.22 | 31.12.21 | 31.12.22 | 31.12.21 | 31.12.22 | 31.12.21 | 31.12.22 | 31.12.21 | |||
UNAUDIT ED UNAUDIT ED UNAUDIT ED UNAUDIT ED | UNAUDIT ED | UNAUDIT ED | UNAUDITED | UNAUDITED | ||||||
Revenue | 1,618,107 | 1,681,597 | 5,920,244 | 4,051,627 | 1,232,002 | 1,344,131 | 4,603,732 | 3,253,734 | ||
Cost of Sales | (1,273,096) | (1,336,521) | (4,715,103) | (3,325,712) | (970,868) | (1,076,875) | (3,828,730) | (2,655,670) | ||
Gross Profit | 345,011 | 345,076 | 1,205,141 | 725,915 | 261,134 | 267,256 | 775,002 | 598,064 | ||
Other Operating Income | 4,540 | 7,220 | 12,295 | 19,123 | 4,004 | 4,437 | 10,607 | 15,060 | ||
Administration Expenses | (119,532) | (91,640) | (311,444) | (228,303) | (101,074) | (79,673) | (259,212) | (193,448) | ||
Selling and Distribution Expenses | (27,287) | (15,462) | (57,504) | (41,678) | (23,085) | (11,948) | (45,107) | (33,192) | ||
Profit from Operations | 202,732 | 245,194 | 848,488 | 475,057 | 140,979 | 180,072 | 481,290 | 386,484 | ||
Finance Income | 21,086 | 730 | 737,175 | 1,987 | 11,505 | 477 | 583,350 | 1,432 | ||
Finance Cost | (170,659) | (32,903) | (732,367) | (73,140) | (164,189) | (27,061) | (631,514) | (59,600) | ||
Net Finance Cost | (149,573) | (32,173) | 4,808 | (71,153) | (152,684) | (26,584) | (48,164) | (58,168) | ||
Share of Profit of Equity Accounted Investees | (5,982) | 31,693 | 20,905 | 28,223 | - | - | - | - | ||
Profit / (Loss) before Tax | 47,177 | 244,714 | 874,201 | 432,127 | (11,705) | 153,488 | 433,126 | 328,316 | ||
Taxation | (8,789) | (40,909) | (161,126) | (71,321) | - | (32,808) | (96,076) | (61,107) | ||
Profit / (Loss) for the period | 38,388 | 203,805 | 713,075 | 360,806 | (11,705) | 120,680 | 337,050 | 267,209 | ||
Other Comprehensive Income | - | - | - | - | - | - | - | - | ||
Total Comprehensive Income / (Expense) for the period | 38,388 | 203,805 | 713,075 | 360,806 | (11,705) | 120,680 | 337,050 | 267,209 | ||
Profit / (Loss) Attributable to : | ||||||||||
Equity Holders of the Company | 17,606 | 183,930 | 576,842 | 335,643 | (11,705) | 120,680 | 337,050 | 267,209 | ||
Non Controlling Interest | 20,782 | 19,875 | 136,233 | 25,163 | - | - | - | - | ||
Profit / (Loss) for the period | 38,388 | 203,805 | 713,075 | 360,806 | (11,705) | 120,680 | 337,050 | 267,209 | ||
Total Comprehensive Income / (Expense) attributable to : | ||||||||||
Equity Holders of the Company | 17,606 | 183,930 | 576,842 | 335,643 | (11,705) | 120,680 | 337,050 | 267,209 | ||
Non Controlling Interest | 20,782 | 19,875 | 136,233 | 25,163 | - | - | - | - | ||
Total Comprehensive Income / (Expense) for the period | 38,388 | 203,805 | 713,075 | 360,806 | (11,705) | 120,680 | 337,050 | 267,209 | ||
Earnings / (Loss) Per Share (Rs.) | 0.03 | 0.33 | 1.03 | 0.60 | (0.02) | 0.21 | 0.60 | 0.48 | ||
Dividend Per Share (Rs.) | - | - | 0.20 | - | - | - | 0.20 | - | ||
1 The above figures are provisional and subject to audit. | ||||||||||
2 Figures in brackets indicate deductions | ||||||||||
Page 3 of 11 | INTERIM FINANCIAL STATEMENTS |
RENUKA AGRI FOODS PLC | ||||
ST AT EMENT OF FINANCIAL POSIT ION | ||||
GROUP | ||||
AS AT | 31.12.2022 | 31.03.2022 | ||
Rs.'000' | Rs.'000' | |||
Unaudited | Audited | |||
Assets | ||||
Non-Current Assets | ||||
Property , Plant and Equipment | 2,505,639 | 2,538,408 | ||
Biological Assets | 132,446 | 120,940 | ||
Intangible Assets | 571,237 | 571,237 | ||
Right of U se Assets | 148,544 | 148,544 | ||
Inv estment in Subsidiaries | - | - | ||
Inv estment in Equity Accounted Inv estees | 1,028,954 | 1,008,049 | ||
T otal Non Current Assets | 4,386,820 | 4,387,178 | ||
Current Assets | ||||
Inv entories | 1,601,137 | 1,221,622 | ||
Trade and Other Receiv ables | 1,380,866 | 1,183,903 | ||
Tax Recov erable | 4,797 | 4,096 | ||
Amounts Due from Related C ompanies | 237,564 | 77,488 | ||
C ash and C ash Equiv alents | 899,393 | 370,322 | ||
Assets H eld for Sale | - | 4,699 | ||
T otal Current Assets | 4,123,757 | 2,862,130 | ||
T otal Assets | 8,510,577 | 7,249,308 | ||
Equity and Liabilities | ||||
Equity | ||||
Stated C apital | 1,194,453 | 1,194,453 | ||
Rev aluation Reserv e | 266,925 | 266,925 | ||
Retained Earnings | 2,690,142 | 2,225,650 | ||
Equity attributable to Ow ners of the C ompany | 4,151,520 | 3,687,028 | ||
N on C ontrolling Interest | 367,582 | 231,349 | ||
T otal Equity | 4,519,102 | 3,918,377 | ||
Non-Current Liabilities | ||||
Retirement Benefit Obligations | 62,571 | 61,103 | ||
Loans and Borrow ings | 449,059 | 449,059 | ||
Lease Obligation | 157,174 | 157,174 | ||
Deferred Tax Liability | 138,223 | 138,223 | ||
T otal Non Current Liabilities | 807,027 | 805,559 | ||
Current Liabilities | ||||
Loans and Borrow ings | 1,436,202 | 1,647,130 | ||
Lease Obligation | 30,236 | 30,236 | ||
Trade and Other Pay ables | 1,443,193 | 762,673 | ||
Amounts Due to Related C ompanies | 138,783 | 1,275 | ||
Div idend Pay able | 6,137 | 5,354 | ||
Income Tax Pay able | 128,563 | 75,913 | ||
Bank Ov erdrafts | 1,334 | 2,791 | ||
T otal Current Liabilities | 3,184,448 | 2,525,372 | ||
T otal Liabilities | 3,991,475 | 3,330,931 | ||
T otal Equity & Liabilities | 8,510,577 | 7,249,308 | ||
Net Assets per Share (Rs.) | 7.39 | 6.56 | ||
COMPANY
31.12.2022 | 31.03.2022 |
Rs.'000' | Rs.'000' |
Unaudited | Audited |
1,718,566 | 1,720,579 |
- | - |
- | - |
78,460 | 78,460 |
2,005,204 | 2,005,204 |
- | - |
3,802,230 | 3,804,243 |
1,282,788 | 901,405 |
1,192,912 | 1,045,444 |
1,516 | 687 |
310,585 | 59,966 |
652,717 | 277,734 |
- | - |
3,440,518 | 2,285,236 |
7,242,748 | 6,089,479 |
1,194,453 | 1,194,453 |
119,254 | 119,254 |
2,238,877 | 2,014,177 |
3,552,584 | 3,327,884 |
- | - |
3,552,584 | 3,327,884 |
53,712 | 52,150 |
440,278 | 440,278 |
79,752 | 79,752 |
105,250 | 105,250 |
678,992 | 677,430 |
1,429,611 | 1,328,936 |
16,578 | 16,578 |
1,348,679 | 667,777 |
145,204 | 4,778 |
4,786 | 4,003 |
66,314 | 62,093 |
- | - |
3,011,172 | 2,084,165 |
3,690,164 | 2,761,595 |
7,242,748 | 6,089,479 |
6.32 | 5.92 |
The above figures are provisional and subject to audit. | |
I certify that the Interim Financial Statements have been prepared in compliance with the requirements of the Companies Act No.7 of 2007. | |
S gd. | |
Dilshan Perera | |
Chief Financial Officer | |
The Board of Directors is responsible for the preparation and presentation of these Financial Statements. | |
These Financial Statements were approved and signed for and on behalf of of the Board of Directors of Renuka Agri Foods PLC. | |
Sgd. | Sgd. |
Dr S .R. Rajiyah | S .V. Rajiyah |
Director | Director |
08th February 2023 |
Page 4 of 11 | INTERIM FINANCIAL STATEMENTS |
RENUKA AGRI FOODS PLC
ST AT EMENT OF CHANGES IN EQUIT Y
FOR T HE PERIOD ENDED | Equity Attributable to Owners | Non Controlling | T otal | ||||
Stated | Revaluation | Retained | T otal | Interest | Equity | ||
Capital | Reserve | Earnings | |||||
Rs.000 | Rs.000 | Rs.000 | Rs.000 | Rs.000 | Rs.000 | ||
COMPANY | |||||||
Balance as at 1st April 2021 | 1,194,453 | 119,254 | 1,579,146 | 2,892,853 | - | 2,892,853 | |
Loss for the period | - | - | 267,209 | 267,209 | - | 267,209 | |
Other Comprehensiv e Income / (Ex pense) | - | - | - | - | - | - | |
T otal Comprehensive Income / (Expense) | - | - | 267,209 | 267,209 | - | 267,209 | |
Balance as at 31st December 2021 | 1,194,453 | 119,254 | 1,846,355 | 3,160,062 | - | 3,160,062 | |
Balance as at 1st April 2022 | 1,194,453 | 119,254 | 2,014,177 | 3,327,884 | - | 3,327,884 | |
Profit for the period | - | - | 337,050 | 337,050 | - | 337,050 | |
Other Comprehensiv e Income / (Ex pense) | - | - | - | - | - | - | |
T otal Comprehensive Income / (Expense) | - | - | 337,050 | 337,050 | - | 337,050 | |
Div idend Paid | - | - | (112,350) | (112,350) | - | (112,350) | |
T otal T ransactions with Owners of the Company | - | - | (112,350) | (112,350) | - | (112,350) | |
Balance as at 31st December 2022 | 1,194,453 | 119,254 | 2,238,877 | 3,552,584 | - | 3,552,584 | |
GROUP | |||||||
Balance as at 1st April 2021 | 1,194,453 | 256,851 | 1,610,033 | 3,061,337 | 200,075 | 3,261,412 | |
Profit / (Loss) for the period | - | - | 335,643 | 335,643 | 25,163 | 360,807 | |
Other Comprehensiv e Income / (Ex pense) | - | - | - | - | |||
T otal Comprehensive Income / (Expense) | - | - | 335,643 | 335,643 | 25,163 | 360,807 | |
T ransactions with Owners of the Company, | |||||||
Recognized directly in Equity | |||||||
Effect of changes in percentage holding in subsidiaries | - | - | (92,861) | (92,861) | 191 | (92,670) | |
T otal T ransactions with Owners of the Company | - | - | (92,861) | (92,861) | 191 | (92,670) | |
Balance as at 31st December 2021 | 1,194,453 | 256,851 | 1,852,815 | 3,304,119 | 225,429 | 3,529,549 | |
Balance as at 1st April 2022 | 1,194,453 | 266,925 | 2,225,650 | 3,687,028 | 231,349 | 3,918,377 | |
Profit for the period | - | - | 576,842 | 576,842 | 136,233 | 713,075 | |
Other Comprehensiv e Income | - | - | - | - | - | - | |
T otal Comprehensive Expenses | - | - | 576,842 | 576,842 | 136,233 | 713,075 | |
T ransactions with Owners of the Company, | |||||||
Recognized directly in Equity | |||||||
Div idend Paid | - | - | (112,350) | (112,350) | - | (112,350) | |
T otal T ransactions with Owners of the Company | - | - | (112,350) | (112,350) | - | (112,350) | |
Balance as at 31st December 2022 | 1,194,453 | 266,925 | 2,690,142 | 4,151,520 | 367,582 | 4,519,102 | |
1 The abov e figures are prov isional and subject to audit. | |||||||
2 Figures in brackets indicates deductions | |||||||
Page 5 of 11 | INTERIM FINANCIAL STATEMENTS |
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Renuka Agri Foods plc published this content on 09 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2023 11:05:50 UTC.