Alumex : Interim Financial Statement as at 30.06.2022

Alumex PLC

Interim Report

First Quarter

Three Months Ended 30th June, 2022

Income Statements

For the period ended 30th June, 2022

Consolidated	Company			Consolidated				Company
	Audited	Audited			Unaudited	Unaudited				Unaudited	Unaudited
	year ended	year ended			3 months to	3 months to				3 months to	3 months to
31.03.22			31.03.22			30.06.22		30.06.21			Change	30.06.22		30.06.21		Change
	Rs.'000			Rs.'000			Rs.'000		Rs.'000			%		Rs.'000		Rs.'000			%
9,595,282			9,042,944		Revenue	2,911,930		1,504,478			94		2,911,930		1,467,545		98
(7,316,667)		(7,027,596)	Cost of sales	(2,481,750)	(1,190,273)	109		(2,481,750)	(1,197,354)	107
2,278,615			2,015,348		Gross profit	430,180		314,205			37		430,180		270,191		59
53,141			51,973		Other income	14,323		4,714			204		14,323		4,714		204
(267,516)		(261,289)	Distribution expenses	(75,607)	(54,729)	38		(75,607)	(53,184)	42
(576,512)		(554,063)	Administrative expenses	(149,389)	(136,000)	10		(149,389)	(130,377)	>100
1,487,728			1,251,969	Results from operating activities	219,506		128,189			71		219,506		91,344		140
452,482			440,172		Finance Income	4,738		8,061			(41)	4,738		7,954		(40)
(558,455)		(535,723)	Finance Costs	(62,752)	(61,703)	2		(62,752)	(59,993)	>100
(105,973)		(95,551)	Net finance costs	(58,014)	(53,642)	8		(58,014)	(52,039)	>100
1,381,755			1,156,418		Profit before tax	161,492		74,547			117		161,492		39,305		311
(229,849)		(189,670)	Tax (expense)/Reversal	(29,417)	(9,547)	208		(29,417)	(5,663)	>100
1,151,906			966,748	Profit for the period	132,075		65,000			103		132,075		33,641		293
						Attributable to:
1,151,906			966,748		Owners of the Company	132,075		65,000			103		132,075		33,641		293
						Earnings per share
1.92			1.62		Basic earnings per share (Rs.)	0.22		0.11						0.22		0.06
						Statements of Comprehensive Income
Consolidated	Company			Consolidated					Consolidated
	Audited	Audited			Unaudited	Unaudited				Unaudited	Unaudited
	year ended	year ended			3 months to	3 months to				3 months to	3 months to
31.03.22			31.03.22			30.06.22		30.06.21			Change	30.06.22		30.06.21		Change
	Rs.'000			Rs.'000			Rs.'000		Rs.'000			%		Rs.'000		Rs.'000			%
1,151,906			966,748		Profit for the Period	132,075		65,000			103		132,075		33,641		293
						Other Comprehensive income
(12,394)		(7,870) Actuarial gains / (losses) on defined benefit plans	-		-						-		-		-
2,200			1,397		Income tax effect on actuarial gains / (losses)	-		-						-		-		-
152,952			139,952		Revaluation of land	-		-						-		-		-
(27,149)		(24,841)	Income tax effect on revaluation surplus	-		-						-		-
115,609			108,638	Other comprehensive income for the period, ne	-		-						-		-		-
1,267,515			1,075,386	Total comprehensive income for the period, net	132,075		65,000			103		132,075		33,641		293
						Attributable to
1,267,515			1,075,386		Owners of the parent	132,075		65,000						132,075		33,641

Statements of Financial Position

Consolidated	Company			Consolidated		Company
Audited	Audited			Unaudited	Unaudited		Unaudited	Unaudited
as at	as at			as at	as at		as at	as at
31.03.22		31.03.22			30.06.22	30.06.21	30.06.22	30.06.21
Rs.'000	Rs.'000		Notes	Rs.'000	Rs.'000		Rs.'000	Rs.'000
			ASSETS
			Non - current assets
4,390,421		4,166,241	Property, plant & equipment		4,473,723		3,704,564	4,250,018		3,501,555
272,775		272,775	Right of use asset/Lease Asset		271,626		191,677	271,626		191,677
88,868		88,868	Intangible assets		84,539		98,575	84,539		98,575
-		30,000	Investments in subsidiaries		-		-	30,000		30,000
4,752,064		4,557,884	Total non-current assets		4,829,888		3,994,815	4,636,183		3,821,806
			Current assets
3,602,127		3,247,592	Inventories		4,234,556		2,493,343	3,880,020		2,055,385
1,586,449		1,347,316	Trade and other receivables		1,314,258		1,228,675	612,847		1,057,021
1,262,417		1,240,377	Advances and prepayments		825,581		566,963	803,541		542,346
866,243		843,214	Cash & cash equivalents		1,079,351		780,744	1,056,322		772,662
7,317,236		6,678,499	Total current assets		7,453,746		5,071,973	6,352,730		4,427,414
12,069,300		11,236,383	Total assets		12,283,634		9,066,789	10,988,913		8,249,220
			EQUITY AND LIABILITIES
283,735		283,735	Stated capital	4	283,735		283,735	283,735		283,735
228,056		228,056	Capital reserves		228,056		228,056	228,056		228,056
755,057		711,715	Other components of equity		755,057		634,539	711,715		601,889
2,615,154		1,732,361	Revenue reserves		2,534,470		1,892,320	1,651,677		1,159,606
			Total equity attributable to
3,882,002		2,955,867	owners of the parent		3,801,318		3,038,650	2,875,183		2,273,286
-		-	Non- controlling interest		-		-	-		-
3,882,002		2,955,867	Total Equity		3,801,318		3,038,650	2,875,183		2,273,286
			Non - current liabilities
1,128,989		1,128,989	Interest bearing borrowings		984,220		1,464,179	984,220		1,464,179
286,046		286,046	Non Current Portion of Lease Liabilities		292,317		189,869	292,317		189,869
166,265		148,940	Employee benefit obligations		173,222		145,926	155,899		133,558
238,321		245,033	Deferred tax liability		245,862		240,126	252,574		240,063
1,819,621		1,809,008	Total non-current liabilities		1,695,621		2,040,100	1,685,010		2,027,669
			Current liabilities
2,614,366		2,951,594	Trade and other payables		2,224,360		2,068,044	2,099,313		2,046,063
651,392		651,392	Current portion of long term interest bearing borrowings	581,067		530,783	581,067		530,783
17,301		17,301	Current Portion of Lease Liability		17,301		17,964	17,301		17,964
2,839,651		2,642,751	Short-term interest bearing borrowings		3,845,356		1,342,264	3,648,456		1,337,215
19,687		17,093	Provisions		20,787		15,489	18,662		13,529
225,280		191,377	Income tax payable		97,824		13,494	63,921		2,710
6,367,677		6,471,508	Total current liabilities		6,786,695		3,988,039	6,428,720		3,948,265
8,187,298		8,280,516	Total liabilities		8,482,316		6,028,139	8,113,730		5,975,933
12,069,300		11,236,383	Total equity and liabilities		12,283,634		9,066,789	10,988,913		8,249,220

The Financial Position as at 30th June, 2022 and Income Statements ,Statements of Comprehensive Income, Changes in Equity and Cash Flow for the twelve months then ended are drawn up from the unaudited financial statements of the Company, its Subsidiaries and they provide the information required by the Colombo Stock Exchange.

It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act no 7 of 2007 .

Sgd

R P P K Rajapaksha

Director / Chief Financial Officer

Signed for and on behalf of the Board

Sgd	Sgd
A M Pandithage	D W P N Dediwela
Chairman	Managing Director

1st August 2022

Statements of Changes in Equity

For the period ended 30th June, 2022

Consolidated

		Attributable to owners of the parent
	Stated	Capital	Revaluation	Retained	Shareholders'	Total
	capital	reserve	reserve	earnings	Funds	Equity
	Rs. '000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 1st at April, 2022 (Adjusted)	283,735	228,056	755,057	2,552,046	3,818,894	3,818,894
Profit for the period	-	-	-	132,075	132,075	132,075
Other Comprehensive income
Actuarial gains / (losses) on defined benefit plans	-	-	-	-	-	-
Income tax effect on actuarial gains / (losses)	-	-	-	-	-	-
Revaluation of land	-	-	-	-	-	-
Income tax effect on Revaluation surplus	-	-	-	-	-	-
Total other comprehensive income	-	-	-	-	-	-
Total Comprehensive income for the period	-	-	-	132,075	132,075	132,075
Transactions with owners, recorded directly in equity
Dividends to equity holders	-	-	-	(149,651)	(149,651)	(149,651)
Transfers	-	-	-	-	-	-
Total contributions by and distributions to owners	-	-	-	(149,651)	(149,650)	(149,650)
Balance as at 30th June 2022	283,735	228,056	755,057	2,534,470	3,801,319	3,801,319
Balance as at 1st at April, 2021	283,735	228,056	634,539	1,827,320	2,973,650	2,973,650
Charge relating to Surcharge Tax	-	-	-	(63,108)	(63,108)	(63,108)
Balance as at 1st at April, 2021 (Adjusted)	283,735	228,056	634,539	1,764,212	2,910,542	2,910,542
					-	-
Profit for the period	-	-	-	1,151,906	1,151,906	1,151,906
Other Comprehensive income
Actuarial gains / (losses) on defined benefit plans	-	-	-	(12,394)	(12,394)	(12,394)
Income tax effect on actuarial gains / (losses)	-	-	-	2,200	2,200	2,200
Revaluation of land	-	-	152,952	-	152,952	152,952
Income tax effect on Revaluation surplus	-	-	(27,149)	-	(27,149)	(27,149)
Total other comprehensive income	-	-	125,803	(10,194)	115,609	115,609
Total Comprehensive income for the period	-	-	125,803	1,141,712	1,267,515	1,267,514
					-	-
Transactions with owners, recorded directly in equity
Dividends to equity holders	-	-	-	(359,163)	(359,163)	(359,163)
Transfers			(5,285)	5,285	-	-
Total contributions by and distributions to owners	-	-	(5,285)	(353,878)	(359,163)	(359,163)

Balance as at 31st March 2022 (Adjusted)

283,735

228,056

755,057

2,552,046

3,818,893

3,818,892

Statements of Changes in Equity

For the period ended 30th June, 2022
Company	Stated	Capital	Revaluation	Retained	Total
	capital	reserve	reserve	earnings
	Rs. '000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 1st at April, 2022 (Adjusted)	283,735	228,056	711,715	1,669,253	2,892,759
Profit for the period	-	-	-	132,075	132,075
Other Comprehensive income					-
Actuarial gains / (losses) on defined benefit plans	-	-	-	-	-
Income tax effect on actuarial gains / (losses)		-	-	-	-
Revaluation of land	-	-	-	-	-
Income tax effect on Revaluation surplus	-	-	-	-	-
Total other comprehensive income	-	-	-	-	-
Total Comprehensive income for the period	-	-	-	132,075	132,075
Transactions with owners, recorded directly in equity
Dividends to equity holders	-	-	-	(149,651)	(149,651)
Transfers	-	-	-	-	-
Total contributions by and distributions to owners	-	-	-	(149,651)	(149,651)
Balance as at 30th June 2022	283,735	228,056	711,715	1,651,677	2,875,183
Balance as at 1st at April, 2021	283,735	228,056	601,889	1,125,965	2,239,645
Charge relating to Surcharge Tax	-	-	-	(63,108)	(63,108)
Balance as at 1st at April, 2021 (Adjusted)	283,735	228,056	601,889	1,062,857	2,176,537
Profit for the period	-	-	-	966,748	966,748
Other Comprehensive income					-
Actuarial gains / (losses) on defined benefit plans	-	-	-	(7,870)	(7,870)
Income tax effect on actuarial gains / (losses)		-	-	1,397	1,397
Revaluation of land	-	-	139,952	-	139,952
Income tax effect on Revaluation surplus	-	-	(24,841)	-	(24,841)
Total other comprehensive income	-	-	115,110	(6,473)	108,638
Total Comprehensive income for the period	-	-	115,110	960,276	1,075,386
Transactions with owners, recorded directly in equity
Dividends to equity holders	-	-	-	(359,164)	(359,164)
Transfers	-	-	(5,285)	5,285	-
Total contributions by and distributions to owners	-	-	(5,285)	(353,879)	(359,164)

Balance as at 31st March 2022 (Adjusted)

283,735

228,056

711,715

1,669,253

2,955,867