FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
UNAUDITED
ACL CABLES PLC (PQ 102)
ACL CABLES PLC
STATEMENT OF PROFIT OR LOSS - GROUP
Unaudited
(all amounts in Sri Lanka Rupees thousands)
For the year ended
Revenue from contracts with customers
Cost of Sales
Gross Profit
Other income
Distribution costs
Administrative costs
Operating Profit
Finance costs - net
Share of (loss)/profit of investments accounted for using the equity method
Profit Before Income Tax
Income tax expenses
Profit for the Year
Profit attributable to :
- Owners of the parent
- Non-controllinginterests
Earnings per share (Rs.)
Quarter ended | Year ended | |||
31 March | 31 March | |||
2024 | 2023 | 2024 | 2023 (Audited) | |
7,720,195 | 6,799,146 | 29,422,604 | 30,146,826 | |
(5,764,868) | (4,761,800) | (22,025,877) | (19,158,542) | |
1,955,326 | 2,037,346 | 7,396,727 | 10,988,284 | |
94,458 | 699,325 | 189,213 | 472,233 | |
(443,637) | (407,030) | (1,473,877) | (1,372,527) | |
(328,597) | (264,889) | (1,168,833) | (1,008,991) | |
1,277,550 | 2,064,753 | 4,943,230 | 9,079,000 | |
(407,621) | (846,544) | (294,895) | (48,319) | |
60,550 | 2,450 | 108,594 | 134,395 | |
930,479 | 1,220,659 | 4,756,929 | 9,165,076 | |
(169,288) | (217,399) | (1,261,404) | (2,152,537) | |
761,191 | 1,003,261 | 3,495,524 | 7,012,540 | |
645,351 | 782,698 | 2,906,350 | 5,951,700 | |
115,840 | 220,561 | 589,174 | 1,060,840 | |
761,191 | 1,003,261 | 3,495,524 | 7,012,540 | |
2.69 | 3.27 | 12.13 | 24.84 | |
Page 1
ACL CABLES PLC
STATEMENT OF PROFIT OR LOSS -COMPANY
Unaudited
(all amounts in Sri Lanka Rupees thousands)
For the year ended
Revenue from contracts with customers Cost of Sales
Gross Profit
Other income
Distribution costs
Administrative costs
Operating Profit
Finance costs - net
Profit Before Income Tax
Income tax expenses
Profit for the Year
Earnings per share (Rs.)
Quarter ended | Year ended | |||
31 March | 31 March | |||
2024 | 2023 | 2024 | 2023 (Audited) | |
3,690,665 | 3,125,175 | 13,931,381 | 15,725,040 | |
(3,025,421) | (2,364,938) | (11,318,663) | (11,044,571) | |
665,244 | 760,237 | 2,612,718 | 4,680,469 | |
46,494 | 44,344 | 286,876 | 254,669 | |
(195,557) | (212,035) | (676,709) | (707,199) | |
(69,059) | (55,306) | (245,284) | (220,102) | |
447,122 | 537,240 | 1,977,601 | 4,007,837 | |
(185,842) | (405,534) | (494,467) | (828,638) | |
261,280 | 131,706 | 1,483,134 | 3,179,199 | |
(45,797) | (38,425) | (333,751) | (770,783) | |
215,483 | 93,281 | 1,149,383 | 2,408,414 | |
0.90 | 0.39 | 4.80 | 10.05 | |
Page 2
ACL CABLES PLC
STATEMENT OF COMPREHENSIVE INCOME
Unaudited
(all amounts in Sri Lanka Rupees thousands)
(A) Group
For the year ended
-
Profit for the year
Other comprehensive income/(expenses) Fair value adjustment for FA at fair value through
OCI (net of tax)
Gain on revaluation of land and building (net of tax) Re-Measurement of defined benefit obligations (net of tax) Share of other comprehensive income of
equity accounted investee, net of tax Currency translation difference
Tax impact on effect of change in tax rates
Other comprehensive income, net of tax
Total comprehensive income, net of tax
Total comprehensive income attributable to:
- Owners of the parent
- Non-controllinginterests
Total comprehensive income, net of tax
Quarter ended | Year ended | ||
31 March | 31 March | ||
2024 | 2023 | 2024 | 2023 |
761,191 | 1,003,261 | 3,495,524 | 7,012,540 |
6,013 | 4,799 | 9,284 | 223,360 |
880,860 | - | 880,860 | - |
3,109 | - | 3,109 | (39,157) |
(538) | (538) | 778 | |
(112,957) | (19,718) | (147,104) | 596,063 |
- | - | - | (119,790) |
776,487 | (14,919) | 745,611 | 661,254 |
1,537,677 | 988,340 | 4,241,134 | 7,673,795 |
1,349,418 | 766,766 | 3,595,716 | 6,322,926 |
188,259 | 221,574 | 645,418 | 1,350,869 |
1,537,677 | 988,340 | 4,241,134 | 7,673,795 |
- COMPANY
For the year ended
Profit for the Year
Other comprehensive income/(expenses) Fair value adjustment for FA at fair value through
OCI
Gain on revaluation of land and building (net of tax) Re-Measurement of defined benefit obligations
Tax impact on re-measurement of defined benefit obligations Tax impact on effect of change in tax rates
Other comprehensive income, net of tax
Total comprehensive income, net of tax
Quarter ended | Year ended | |||
31 March | 31 March | |||
2024 | 2023 | 2024 | 2023 | |
215,483 | 93,281 | 1,149,383 | 2,408,414 | |
1,571 | 1,169 | 3,244 | 20 | |
420,969 | - | 420,969 | - | |
3,109 | - | 3,109 | (42,254) | |
- | - | - | 12,676 | |
- | - | - | (62,258) | |
425,649 | 1,169 | 427,322 | (91,816) | |
641,132 | 94,450 | 1,576,705 | 2,316,599 | |
Page 3
ACL CABLES PLC
STATEMENT OF FINANCIAL POSITION
Unaudited | ||||
(all amounts in Sri Lanka Rupees thousands) | ||||
Group | Company | |||
31 March | 31 March | 31 March | 31 March | |
As at | 2024 | 2023 (Audited) | 2024 | 2023 (Audited) |
ASSETS | ||||
Non-Current Assets | ||||
Property, plant and equipment | 6,466,739 | 5,604,193 | 2,510,766 | 1,949,645 |
Capital Work in progress | 284,811 | 418,816 | - | 189,485 |
Investment property | 1,358,500 | 1,302,000 | 608,500 | 580,000 |
Intangible assets | 68,281 | 68,281 | - | - |
Right- of- use assets | 26,833 | 21,693 | - | - |
Investment in subsidiaries | - | - | 1,103,745 | 1,047,644 |
Investments accounted for using the equity method | 754,002 | 676,787 | 345,093 | 345,093 |
Financial assets at fair value through OCI | 877,829 | 868,546 | 16,949 | 13,705 |
9,836,995 | 8,960,316 | 4,585,053 | 4,125,572 | |
Current Assets | ||||
Inventories | 11,266,368 | 11,719,856 | 6,535,538 | 6,825,887 |
Trade and other receivables | 5,765,600 | 6,498,073 | 3,382,508 | 3,647,319 |
Financial assets at fair value through Profit or loss | 1,632,806 | - | 518,971 | - |
Cash and cash equivalents | 8,752,110 | 8,932,964 | 1,702,594 | 2,937,493 |
27,416,885 | 27,150,893 | 12,139,611 | 13,410,699 | |
TOTAL ASSETS | 37,253,880 | 36,111,209 | 16,724,667 | 17,536,271 |
EQUITY AND LIABILITIES | ||||
Capital and Reserves | ||||
Stated capital | 299,488 | 299,488 | 299,488 | 299,488 |
Capital reserve | 3,671,001 | 2,844,283 | 1,777,394 | 1,356,425 |
General reserve | 1,123,825 | 1,123,825 | 680,266 | 680,266 |
Fair value reserve of FA at FVOCI | 258,722 | 251,540 | 7,117 | 3,873 |
Foreign currency translation reserve | 84,690 | 231,794 | - | - |
Retained earnings | 21,358,703 | 18,749,250 | 8,550,458 | 7,697,435 |
Equity attributable to owners of the parent | 26,796,429 | 23,500,180 | 11,314,723 | 10,037,487 |
Non-controlling interests | 4,433,992 | 3,958,088 | - | - |
Total equity | ||||
31,230,421 | 27,458,268 | 11,314,723 | 10,037,487 | |
Non-Current Liabilities | ||||
Defined benefit obligations | 454,499 | 387,306 | 216,898 | 187,646 |
Deferred tax liability | 690,434 | 735,148 | 293,720 | 293,720 |
Lease liability | 17,629 | 17,870 | - | - |
Borrowings | 378,674 | 705,712 | 230,156 | 454,874 |
1,541,235 | 1,846,036 | 740,774 | 936,240 | |
Current Liabilities | ||||
Trade and other payables | 827,648 | 900,216 | 2,512,168 | 2,719,254 |
Current income tax liability | 2,226,345 | 2,322,662 | 1,151,743 | 999,526 |
Borrowings | 1,353,164 | 2,687,318 | 1,000,000 | 2,255,780 |
Lease Liability | 5,793 | 8,461 | - | - |
Bank overdraft | 69,274 | 888,248 | 5,259 | 587,985 |
4,482,224 | 6,806,905 | 4,669,170 | 6,562,545 | |
Total Liabilities | 6,023,459 | 8,652,941 | 5,409,944 | 7,498,785 |
Total Equity and Liabilities | 37,253,880 | 36,111,209 | 16,724,667 | 17,536,271 |
Net asset value per share | 111.85 | 98.09 | 47.23 | 41.90 |
Highest and Lowest Market Price recorded during the quarter; | ||||
Highest price (Rs.) | 85.20 | 124.50 | ||
Lowest price (Rs.) | 65.50 | 33.00 | ||
Last traded price (Rs.) | 84.10 | 82.30 |
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act, No. 07 of 2007.
Sg.d
Mahesh Amarasiri
Group Chief Financial Officer
Sg.d | Sg.d |
U. G. Madanayake | Suren Madanayake |
Chairman | Managing Director |
30 May 2024 | |
Colombo | Page 4 |
ACL CABLES PLC
STATEMENT OF CHANGES IN EQUITY - GROUP
Unaudited | |||||||||
(all amounts in Sri Lanka Rupees thousands) | |||||||||
For the year ended 31 March | |||||||||
Attributable to owners of the company | |||||||||
FV Reserve | Foreign Currency | Non | |||||||
Stated | Capital | General | of FA at | Translation | Retained | controlling | Total | ||
capital | reserves | reserve | FVOCI | reserve | Earnings | Total | interest | equity | |
Balance at 1 April 2023 | 299,488 | 2,844,283 | 1,123,825 | 251,540 | 231,794 | 18,749,250 | 23,500,180 | 3,958,088 | 27,458,268 |
Net profit | - | - | - | - | - | 2,906,350 | 2,906,350 | 589,174 | 3,495,524 |
Fair value adjustment for FA at fair value | - | ||||||||
through OCI | - | - | - | 7,182 | - | - | 7,182 | 2,102 | 9,284 |
Re-measurements of post employment | - | - | - | - | - | 3,109 | 3,109 | - | 3,109 |
benefit obligation | |||||||||
Gain on revaluation of Land and Buildings | - | 826,717 | - | - | - | - | 826,717 | 54,142 | 880,860 |
(net of tax) | |||||||||
Currency Translation Difference | - | - | - | - | (147,104) | - | (147,104) | - | (147,104) |
Share of other comprehensive income of | |||||||||
equity accounted investee, net of tax | - | - | - | - | - | (538) | (538) | - | (538) |
Total comprehensive income | - | 826,717 | - | 7,182 | (147,104) | 2,908,921 | 3,595,716 | 645,418 | 4,241,135 |
Adjustment due to change in holding | - | - | - | - | - | - | - | (56,100) | (56,100) |
Dividends | - | - | - | - | - | (299,468) | (299,468) | (113,414) | (412,882) |
Balance at 31 March 2024 | 299,488 | 3,671,001 | 1,123,825 | 258,722 | 84,690 | 21,358,702 | 26,796,429 | 4,433,992 | 31,230,421 |
For the year ended 31 March 2023 | |||||||||
Attributable to owners of the company | |||||||||
FV Reserve | Foreign Currency | Non | |||||||
Stated | Capital | General | of FA at | Translation | Retained | controlling | Total | ||
capital | reserves | reserve | FVOCI | reserve | Earnings | Total | interest | equity | |
Balance at 1 April 2022 | 299,488 | 2,968,431 | 1,123,825 | 26,138 | (72,198) | 13,071,145 | 17,416,829 | 2,724,219 | 20,141,048 |
Net profit | - | - | - | - | - | 5,951,700 | 5,951,700 | 1,060,840 | 7,012,540 |
Fair value adjustment for FA at fair value | - | - | - | 323,634 | - | 323,634 | (2,042) | 321,592 | |
through OCI | |||||||||
Deferred tax on the FV adjustment for | - | ||||||||
financial assets at FVOCI | (98,232) | (98,232) | - | (98,232) | |||||
Currency Translation Difference | 303,992 | 303,992 | 292,071 | 596,063 | |||||
Re-measurements of post employment | |||||||||
benefit obligation | - | - | - | - | (57,355) | (57,355) | - | (57,355) | |
Deferred tax on re-measurement of post | |||||||||
employment benefit obligation | - | - | - | - | 18,198 | 18,198 | - | 18,198 | |
Gain on revaluation of Land and Building | - | - | - | - | - | - | - | - | |
Deferred tax on revaluation surplus | - | - | - | - | - | - | - | - | |
Tax impact on effect of change in tax rates | - | (119,790) | - | - | - | (119,790) | - | (119,790) | |
Share of other comprehensive income of | |||||||||
equity accounted investee, net of tax | - | - | - | - | 778 | 778 | - | 778 | |
Adjustment through equity | - | - | - | - | - | - | - | - | - |
Impact on transfer of NCI balance to | |||||||||
retained earnings of equity investee | - | - | - | - | - | - | - | - | |
Total comprehensive income | - | (119,790) | - | 225,402 | 303,992 | 5,913,322 | 6,322,926 | 1,350,869 | 7,673,795 |
Transfer from revaluation reserve net of tax | - | (4,358) | - | - | - | 4,358 | - | - | - |
Dividends | - | - | - | - | - | (239,575) | (239,575) | (116,999) | (356,574) |
Balance at 31 March 2023 | 299,488 | 2,844,283 | 1,123,825 | 251,540 | 231,794 | 18,749,250 | 23,500,180 | 3,958,088 | 27,458,268 |
ACL CABLES PLC
STATEMENT OF CHANGES IN EQUITY - COMPANY
Unaudited | ||||||
(all amounts in Sri Lanka Rupees thousands) | ||||||
For the year ended 31 March | ||||||
FV Reserve | ||||||
Stated | Capital | General | of FA at | Retained | ||
capital | reserves | reserve | FVOCI | Earnings | Total | |
Balance at 1 April 2023 | 299,488 | 1,356,425 | 680,266 | 3,873 | 7,697,435 | 10,037,487 |
Net profit | - | - | - | - | 1,149,383 | 1,149,383 |
Re-measurements of post employment | - | - | - | - | 3,109 | 3,109 |
benefit obligation | ||||||
Gain on revaluation of Land and Buildings (net of tax) | - | 420,969 | - | - | - | 420,969 |
Fair value adjustment for FA at fair value through | ||||||
OCI | - | - | - | 3,244 | - | 3,244 |
Total comprehensive income | - | 420,969 | - | 3,244 | 1,152,492 | 1,576,705 |
Dividends | - | - | - | - | (299,468) | (299,468) |
Balance at 31 March 2024 | 299,488 | 1,777,394 | 680,266 | 7,117 | 8,550,459 | 11,314,723 |
No of shares as at 31 March 2024 | 239,574,720 | |||||
For the year ended 31 March 2023 | ||||||
FV Reserve | ||||||
Stated | Capital | General | of FA at | Retained | ||
capital | reserves | reserve | FVOCI | Earnings | Total | |
Balance at 1 April 2022 | 299,488 | 1,418,683 | 680,266 | 3,853 | 5,558,172 | 7,960,462 |
Net profit | - | - | - | - | 2,408,414 | 2,408,414 |
Fair value adjustment for FA at fair value through | ||||||
OCI | - | - | - | 20 | - | 20 |
Re-measurements of post employment | ||||||
benefit obligation | - | - | - | - | (42,254) | (42,254) |
Deferred tax on re-measurement of post | ||||||
employment benefit obligation | - | - | - | - | 12,676 | 12,676 |
Tax impact on effect of change in tax rates | - | (62,258) | - | - | - | (62,258) |
Total comprehensive income | - | (62,258) | - | 20 | 2,378,838 | 2,316,598 |
Dividends | - | - | - | - | (239,575) | (239,575) |
Balance at 31 March 2023 | 299,488 | 1,356,425 | 680,266 | 3,873 | 7,697,435 | 10,037,487 |
No of shares as at 31 March 2023 | 239,574,720 |
Page 6
ACL CABLES PLC
STATEMENT OF CASH FLOW
Unaudited
(all amounts in Sri Lanka Rupees thousands)
For the year ended 31 March
CASH FLOW FROM OPERATING ACTIVITIES
Profit/(loss) before tax
Adjustments for:
Depreciation of property, plant and equipment
Fair value adjustment to investment property
Share of profit from equity accounted investee (net of tax) Dividend received from equity accounted investee Dividend income
Interest expense/(income)
Effect of movements in exchange rates
Profit on disposal of property, plant and equipment
Defined benefit obligations
Changes in working capital: (Increase)/Decrease in;
Inventories
Receivables and prepayments
Increase/(Decrease) in;
Trade and other payables
Cash generated from/ (used in) operations
Interest paid/received
Defined benefit obligations paid
Income tax paid less refund received
WHT on dividend paid by subsidiary
Net cash (used in)/from operating activities
CASH FLOW FROM INVESTING ACTIVITIES
Purchase and construction of property, plant and equipment Investment in subsidiary
Dividend received
Proceeds from disposal of property, plant and equipment
Investment in Financial assets at Fair value through Profit or Loss
Net cash from/(used in) investing activities
CASH FLOW FROM FINANCING ACTIVITIES
Short term borrowings net of payments Long term borrowings net of payments Principal elepment of lease payment Dividends paid
Dividends paid by subsidiaries to non-controlling interests
Net cash generated from/ (used in) financing activities
Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
GROUP | COMPANY | ||
2024 | 2023 (Audited) | 2024 | 2023 (Audited) |
4,756,929 | 9,165,077 | 1,483,134 | 3,179,197 |
360,819 | 407,866 | 126,584 | 144,305 |
(56,500) | (72,600) | (28,500) | (40,600) |
(108,594) | (134,395) | - | - |
35,034 | 14,135 | - | - |
(264) | (89,426) | (223,832) | (205,949) |
407,621 | 48,319 | 494,467 | 828,639 |
(147,104) | 255,994 | - | - |
- | (13,293) | - | - |
94,960 | 68,856 | 47,153 | 30,540 |
453,488 | (2,373,117) | 290,349 | (2,714,678) |
732,473 | 1,868,539 | 264,811 | 1,646,953 |
(72,568) | (4,184,906) | (207,086) | (52,732) |
6,456,293 | 4,961,050 | 2,247,080 | 2,815,675 |
(407,621) | (48,319) | (484,937) | (828,639) |
(24,659) | (29,090) | (14,792) | (15,873) |
(1,357,722) | (978,545) | (181,535) | (174,088) |
(33,029) | - | - | - |
4,633,264 | 3,905,096 | 1,565,816 | 1,797,074 |
(277,851) | (231,242) | (105,754) | (44,083) |
- | - | (56,101) | - |
(264) | 89,426 | 223,832 | 205,949 |
- | 13,293 | - | - |
(1,632,806) | (500,000) | - | |
(1,910,921) | (128,524) | (438,023) | 161,868 |
(1,341,392) | (1,816,688) | (1,255,780) | (944,412) |
(327,038) | (801,572) | (224,718) | (501,981) |
(2,909) | (1,278) | - | - |
(299,468) | (239,575) | (299,468) | (239,575) |
(113,414) | (116,999) | - | - |
(2,084,222) | (2,976,112) | (1,779,966) | (1,685,968) |
638,121 | 800,462 | (652,173) | 272,975 |
8,044,716 | 7,244,252 | 2,349,508 | 2,076,534 |
8,682,837 | 8,044,714 | 1,697,335 | 2,349,508 |
Page 7
ACL CABLES PLC
NOTES TO THE FINANCIAL STATEMENTS
Unaudited
(all amounts in Sri Lanka Rupees thousands)
1. Segment information
(a) Business segment information
- | Manufacturing | |||||
Manufacturing | PVC | |||||
cables | compound | Others | Total | Total | ||
For the year ended 31 March | 2024 | 2024 | 2024 | 2024 | 2023 | |
Revenue | ||||||
Total revenue | 30,637,965 | 2,373,422 | 980,965 | 33,992,352 | 36,374,831 | |
Inter-segment sales | (1,248,299) | (2,340,485) | (980,965) | (4,569,748) | (6,228,005) | |
External sales | 29,389,666 | 81,278 | - | 29,422,604 | 30,146,826 | |
Results | ||||||
Profit/(loss) before other income | ||||||
and finance cost | 4,022,743 | 517,003 | 214,271 | 4,754,017 | 8,606,767 | |
Other income | 166,614 | 2,126 | 20,473 | 189,213 | 472,233 | |
Finance (cost)/income | (306,225) | 50,698 | (39,368) | (294,895) | (48,319) | |
Share of profit of investments | ||||||
accounted for using the equity method | - | - | 108,594 | 108,594 | 134,395 | |
(Power and energy) | ||||||
Taxation | (1,123,703) | (141,670) | 3,969 | (1,261,404) | (2,152,537) | |
Profit/(loss) after taxation | 2,759,430 | 428,157 | 307,939 | 3,495,526 | 7,012,540 | |
Capital expenditure | ||||||
Segment capital expenditure | 277,837 | 14 | - | 277,851 | 254,422 | |
Total capital expenditure | 277,851 | 254,422 | ||||
Depreciation and amortisation | ||||||
Segment depreciation | 310,303 | 17,496 | 33,020 | 360,819 | 400,805 | |
Total depreciation and amortisation | 360,819 | 400,805 | ||||
Manufacturing | ||||||
Manufacturing | PVC | |||||
cables | compound | Others | Total | Total | ||
For the year ended 31 March | 2024 | 2024 | 2024 | 2024 | 2023 | |
Assets | ||||||
Segment assets | 28,597,369 | 3,459,516 | 4,122,685 | 36,179,570 | 35,171,022 | |
Unallocated corporate assets | 1,074,310 | 940,188 | ||||
Total assets | 37,253,880 | 36,111,210 | ||||
Liabilities | ||||||
Segment liabilities | 5,542,883 | 213,556 | 256,776 | 6,013,215 | 8,626,923 | |
Unallocated corporate liabilities | 10,245 | 26,018 | ||||
Total liabilities | 6,023,460 | 8,652,941 | ||||
(b) Geographical segment information - revenue | ||||||
Group | Company | |||||
For the year ended 31 March | 2024 | 2023 | 2024 | 2023 | ||
Local sales | 22,159,946 | 20,896,944 | 11,508,658 | 11,893,249 | ||
Export sales | 7,262,658 | 9,249,882 | 2,422,723 | 3,831,791 | ||
29,422,604 | 30,146,826 | 13,931,381 | 15,725,040 |
Page 8
ACL CABLES PLC
NOTES TO THE FINANCIAL STATEMENTS
Unaudited
- The consolidated interim financial statements have been prepared in accordance with the accounting policies set out in the Annual Report for the year ended 31 March 2023 and are in compliance with Sri Lanka Accounting Standards - LKAS 34 - Interim Financial Reporting.
- Where necessary, the presentation and classification of the financial statements of the previous period have been adjusted for better presentation and to be comparable with year end reporting.
- There were no liabilities for management fees or any other similar expenditures in the interim financial statements.
- There were no funds raised through an IPO/Rights/Debenture issues by the group of companies.
- There have been no other events subsequent to the balance sheet date, which require disclosures in the interim financial statements.
- There were no significant changes in the nature of the contingent liabilities, which were disclosed in the Annual Report for the year ended 31 March 2023.
- Net Finance Income/(Cost) includes the exchange gain received during the year 2023/24.
Rs.'000 | ||||
Quarter ended | Period ended | |||
Group | Company | Group | Company | |
Exchange gain/(loss) | (423,737) | (147,977) | (637,884) | (182,686) |
9. | The gain from the disposal of foreign investment amounting to Rs. 609.7Mn | has been recognised under |
the other income in the Quarterly Financial statements (unaudited) ended 31/03/23 in the Kelani Cables | ||
PLC which is reflected in the Other Income of the Consolidated Financial Statement (unaudited) of ACL | ||
Cables PLC. Out of this, the Exchange gain arises from the disposal of foreign investment amounting to | ||
Rs.380.Mn which was recognized under Other Income in the Quarterly Financial Statement (Unaudited) | ||
ended 31/03/23 was subsequently re-classified under the Financial Income, | thus making the Other | |
Income from the above reclassifying to Rs. 229.7 Mn in the Audited Financial statements for the year | ||
ended 31/03/23. |
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ACL Cables plc published this content on 30 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 May 2024 10:30:07 UTC.