ACL Plastics : Quarterly Financial Statements for the period ended 31st December 2021

Interim Financial Statements

For the period ended 31st December 2021

ACL PLASTICS PLC (PQ 87)

ACL PLASTICS PLC

CONSOLIDATED INCOME STATEMENT

	Quarter Ended			Nine Months Ended
for the period ended	31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020		Change
	Rs'000	Rs'000	%		Rs'000		Rs'000	%
Revenue	718,579	531,165	35%		2,177,324	1,315,703	65%
Cost of sales	(534,393)	(451,761)	18%		(1,725,058)		(1,095,940)	57.4%
Gross profit	184,186	79,403	132%		452,265	219,763	106%
Other operating income	389	-	100%		2,199		644	241%
	184,575	79,403	132%		454,464	220,407	106%
Administration cost	(2,168)	(1,560)	39%		(4,464)	(4,564)	-2%
Distribution Cost	-	(297)	100%		-		(297)	100%
Operating profit	182,407	77,547	135%		450,000	215,546	109%
Net finance (cost) / income	(1,246)	302	-513%		(10,601)		(7,779)	36%
Profit before tax	181,161	77,849	133%		439,399	207,766	111%
Taxation	(20,615)	(9,915)	108%		(66,660)	(41,284)	61%
Profit after tax	160,546	67,934	136%		372,739		166,483	124%
Earnings per share (Rs)	38.11	16.13			88.48	39.52

Above figures are provisional and subject to audit.

It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.

ACL PLASTICS PLC

COMPANY INCOME STATEMENT

	Quarter Ended			Nine Months Ended
for the period ended	31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020		Change
	Rs'000	Rs'000	%		Rs'000		Rs'000	%
Revenue	718,579	531,165	35.3%		2,177,324	1,315,703	65.5%
Cost of sales	(534,393)	(451,761)	18.3%		(1,725,058)		(1,095,940)	57.4%
Gross profit	184,186	79,403	132.0%		452,265	219,763	105.8%
Other operating income	389	-	100.0%		2,199		644	241.5%
	184,575	79,403	132.5%		454,464	220,407	106.2%
Administration cost	(2,168)	(1,558)	39.2%		(4,366)	(4,453)	-1.9%
Distribution Cost	-	(297)	100%		-		(297)	100%
Operating profit	182,407	77,548	135%		450,098	215,657	109%
Net finance (cost) / income	(1,246)	(492)	153.3%		(13,133)		(11,591)	13.3%
Profit/(loss) before tax	181,161	77,056	135.1%		436,965	204,065	114.1%
Taxation	(20,615)	(9,915)			(66,660)	(41,284)	61.5%
Profit/(loss) after tax	160,546	67,141	139.1%		370,305		162,782	127.5%
Earnings/(loss) per share (Rs)	38.11	15.94			87.91	38.64

Above figures are provisional and subject to audit.

It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.

ACL PLASTICS PLC

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	Quarter Ended			Nine Months Ended
for the period ended	31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020		Change
	Rs'000	Rs'000	%		Rs'000		Rs'000		%
Profit for the period	160,546	67,934	136%		372,739	166,483	124%
Other comprehensive income/(expenses)
Net change in fair value of available for sale financial assets	10,343	7,200	44%		29,229	17,983	63%
Other comprehensive income for the period, net of tax	10,343	7,200	44%		29,229	17,983	63%
Total comprehensive income for the period	170,889	75,134	127%		401,968		184,466	118%
Above figures are provisional and subject to audit.
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.
ACL PLASTICS PLC
COMPANY STATEMENT OF COMPREHENSIVE INCOME
	Quarter Ended			Nine Months Ended
for the period ended	31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020		Change
	Rs'000	Rs'000	%		Rs'000		Rs'000		%
Profit for the period	160,546	67,141	139%		370,305	162,782	127%
Other comprehensive income/(expenses)
Net change in fair value of available for sale financial assets	10,343	7,200	44%		29,229	17,983	63%
Other comprehensive income for the period, net of tax	10,343	7,200	44%		29,229	17,983	63%
Total comprehensive income for the period	170,889	74,341	130%		399,534		180,765	121%

Above figures are provisional and subject to audit.

It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.

ACL PLASTICS PLC
STATEMENT OF FINANCIAL POSITION
	Group	Company
as at	31.12.2021	31.03.2021		31.12.2021	31.03.2021
	Rs'000		Rs'000	Rs'000		Rs'000
ASSETS
Non current assets
Property, plant & equipment	352,597	329,862		352,597	329,862
Pre-paid lease rentals	1,582	1,598		1,582	1,598
Investment in subsidiary company	-	-		10,000	10,000
Financial assets at FVTPL	72,613	43,384		72,613	43,384
	426,792		374,844		436,792		384,844
Current assets
Inventories	260,734	308,408		260,734	308,408
Trade & other receivables	1,214,107	927,521		1,171,817	883,566
Cash & cash equivalents	567,007	446,312		563,784	443,081
	2,041,849		1,682,241		1,996,335		1,635,056
Total assets	2,468,641		2,057,085		2,433,127		2,019,900
EQUITY
Stated capital	79,975	79,975		79,975	79,975
Revaluation reserve	190,989	190,989		190,989	190,989
Revenue reserve	170,000	170,000		170,000	170,000
Other reserve	59,315	30,086		59,315	30,086
Retained profit	1,437,559	1,106,946		1,369,990	1,041,810
Shareholders' fund	1,937,839		1,577,996		1,870,269		1,512,860
LIABILITIES
Non current liabilities
Defined benefit obligations	17,827	17,433		17,827	17,433
Deferred tax liabilities	51,944	51,944		51,944	51,944
	69,771		69,377		69,771		69,377
Current liabilities
Trade & other payables	397,801	327,520		457,060	384,294
Income tax payable	63,230	43,016		36,028	14,193
Bank overdraft	-	39,176		-	39,176
	461,031		409,713		493,087		437,664
Total liabilities	530,802		479,089		562,859		507,041
Total equity and liabilities	2,468,641		2,057,085		2,433,127		2,019,900
Net asset value per share (Rs)	460.02		374.60		443.98		359.14
Above figures are provisional and subject to audit.
It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act No 7 of 2007.
sgd.
Mahesh Amarasiri
Group Chief Financial Officer
sgd.			sgd.
U G Madanayake			Suren Madanayake
Chairman			Managing Director

Colombo

2nd February 2022