Ceylon Printers : Interim Financial Report 30.06.2022

CEYLON PRINTERS PLC

Statement of Profit or Loss and Other Comprehensive Income

Group	Three		Three
		months ended		months ended
		30th June 2022		30th June 2021	Variance
		Rs.		Rs.	%
	Revenue	46,048,985	37,679,560	22.21
	Cost of Sales	(27,641,197)	(37,060,527)	(25.42)
	Gross Profit /(Loss)	18,407,788	619,033	2,873.64
	Other Income	202,795	360,720	(43.78)
	Selling and Distribution Cost	(16,800)	(139,111)	(87.92)
	Administration Expenses	(20,153,156)	(3,869,620)	420.80
	Results from Operating activities	(1,559,373)	(3,028,978)	(48.52)
	Finance Cost	(1,029,088)	(752,248)	36.80
	Finance Income	6,184	19,828	(68.81)
	Net Finance (Cost/Income)	(1,022,904)	(732,420)	39.66
	Profit/(Loss) before Income Taxation	(2,582,277)	(3,761,398)	(31.35)
	Income Tax Expenses	0	(258,884)	(100.00)
	Profit /(Loss) After Income Taxation	(2,582,277)	(4,020,282)	(35.77)
	Other Comprehensive Income
	Net charge in fair value of available-for-sale financial assets	(9,744)	(7,574)
	Deficit/(Surplus) Change on Employee Retirement
	Benefit Obligation	(215,641)	416,753
	Other Comprehensive Income /(Expense) for the period	(225,385)	409,179	(155.08)
	Total Comprehensive Income /(Expense) for the period	(2,807,662)	(3,611,103)	(22.25)
	Profit/Loss attributable to:				(35.52)
	Equity holders of the parent	(2,585,634)	(4,010,285)
	Non controlling Interest	3,357	(9,997)	(133.58)
	Profit/(Loss) for the period	(2,582,277)	(4,020,282)	(35.77)
	Total Comprehensive expense attributable to				(21.88)
	Equity holders of the parent	(2,811,127)	(3,598,581)
	Non controlling Interest	3,465	(12,522)	(127.67)
	Total Comprehensive Income /(Expense) for the period	(2,807,662)	(3,611,103)	(22.25)
	Earnings Per Share	(4.31)	(6.68)
Segmental Analysis
	Printing	46,023,389	33,928,309
	ATM Cards	0	3,712,500
	Service	25,596	38,751
		46,048,985		37,679,560

NOTES TO THE ACCOUNTS

1. The figures are provisional and subject to audit.
2. The condensed interim financial statements have been prepared in accordance with Sri Lanka Accounting Standards-LKAS 34 Interim Financial Reporting, and has applied the same accounting policies and methods of computation which have been adopted in the previous year.
3. Comparative figures have been re-classified to conform with the current year's presentation.
4. There are no other material events, which have occurred subsequent to the period where adjustments are necessary.
5. There are no changes in contingent liabilities of material nature since the last annual balance sheet date.

Stated Capital

Stated Capital is represented by number of shares in issue as given below.

As at	30th June 2022	30th June 2021
Ordinary shares	600,170	600,170
Market price per share	2022	2021
For the quarter ended 30th June
	Rs.	Rs.
Highest price	No Trading	No Trading
Lowest price	No Trading	No Trading
Closing price as at 30th June	No Trading	No Trading
L.I.Ratnasabapathy
Director
A.M.De Alwis
Director
Date 22nd August 2022

CEYLON PRINTERS PLC

Statement of Profit or Loss and Other Comprehensive Income

Company	Three	Three
		months ended	months ended	Variance
		30th June 2022	30th June 2021
		Rs.	Rs.	%
	Revenue	46,023,389	37,640,809	22.27
	Cost of Sales	(28,030,048)	(38,355,913)	(26.92)
	Gross Profit /(Loss)	17,993,341	(715,104)	(2,616.19)
	Other Income	202,795	360,720	(43.78)
	Selling and Distribution Cost	(16,800)	(139,111)	(87.92)
	Administration Expenses	(9,754,439)	(3,378,459)	188.72
	Results from Operating activities	8,424,897	(3,871,954)	(317.59)
	Finance Cost	(939,340)	(712,915)	31.76
	Finance Income	0	3,627	(100.00)
	Net Finance (Cost/Income)	(939,340)	(709,288)	32.43
	Profit/(Loss) before Income Taxation	7,485,557	(4,581,242)	(263.40)
	Income Tax Expenses	0	0	#DIV/0!
	Profit/(Loss) After Income Taxation	7,485,557	(4,581,242)	(263.40)
	Other Comprehensive Income			#DIV/0!
	Net charge in fair value of available-for-sale financial assets	0	0
	Deficit/(Surplus) Change on Employee Retirement
	Benefit Obligation	(254,230)	302,105
	Other Comprehensive Income /(Expense) for the period	(254,230)	302,105	(184.15)
	Total Comprehensive Income /(Expense) for the period	7,231,327	(4,279,137)	(268.99)
	Earnings Per Share	12.47	(7.63)

The above figures are Provisional and unaudited

L.I.Ratnasabapathy

Director

A.M.De Alwis

Director

Date 22nd August 2022

CEYLON PRINTERS PLC

Statement of Financial Position

	Group		Company
As at	30th June 2022 6	30th June 2021	31st March 2022	30th June 2022	30th June 2021	31st March 2022
ASSETS	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Non-Current Assets
Property,Plant and Equipment	39,446,476	42,913,108	41,606,006	32,190,856	34,129,988	33,968,510
Investment in Subsidiaries	0	0	0	9,300,000	9,300,000	9,300,000
Non Current Financial Assets	653,477	668,635	663,221	383,880	383,880	383,880
Total Non Current Assets	40,099,953	43,581,743	42,269,227	41,874,736	43,813,868	43,652,390
Current Assets
Inventories	24,443,665	20,700,251	31,871,362	24,443,665	20,700,251	31,871,362
Trade and Other Receivables	27,376,008	31,452,736	16,478,887	27,180,642	22,645,037	16,299,522
Related Company Balances	0	50,047	0	0	0	0
Other Financial Assets	14,558,926	15,309,215	14,614,070	3,412,249	3,667,538	3,446,784
Income Tax Refund	48,524	88,274	48,523	17,360	17,360	17,360
Income Tax receivable	36,260	95,446	36,260	36,260	36,260	36,260
Cash and Cash Equivalents	7,316,762	1,075,940	2,316,051	2,100,917	916,002	1,800,917
Total Current Assets	73,780,145	68,771,909	65,365,153	57,191,093	47,982,448	53,472,205
TOTAL ASSETS	113,880,098	112,353,652	107,634,380	99,065,829	91,796,316	97,124,595
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital (600,170)	30,358,500	30,358,500	30,358,500	30,358,500	30,358,500	30,358,500
Other Components of Equity	468,225	463,445	477,969	343,754	343,754	343,754
Revaluation Reserves	21,265,425	16,565,427	21,265,425	14,747,625	10,047,628	14,747,625
Retained Earnings	-60,193,669	-56,018,908	-57,395,751	-51,076,130	-56,078,142	-58,307,457
Total Equity Attributable to Owners of the Compan	-8,101,519	-8,631,536	-5,293,857	-5,626,251	-15,328,260	-12,857,578
Non Controlling Interest	2,013,271	2,074,195	2,006,449	0		0
Total Equity	-6,088,248	-6,557,341	-3,287,408	-5,626,251	-15,328,260	-12,857,578
Non Current Liabilities
Loans and Borrowings	28,450,000	29,850,000	29,555,000	28,450,000	29,850,000	29,555,000
Retirement Benefit Obligation	7,664,672	8,726,590	7,123,985	3,124,591	4,736,367	2,722,153
Total Non Current Liabilities	36,114,672	38,576,590	36,678,985	31,574,591	34,586,367	32,277,153
Current Liabilities
Trade and Other Payables	26,763,261	31,331,267	17,996,470	25,888,641	31,931,198	27,055,208
Related Company Balances	24,584,552	17,198,738	21,205,788	15,375,432	11,286,101	18,234,561
Bank Overdraft	18,351,922	16,463,147	12,703,563	18,293,911	14,238,543	10,672,703
Income tax liabilities	594,434	258,884	594,434	0		0
Loans and Borrowings	13,559,505	15,082,367	21,742,548	13,559,505	15,082,367	21,742,548
Total Current liabilities	83,853,674	80,334,403	74,242,803	73,117,489	72,538,209	77,705,020
TOTAL EQUITY AND LIABILITIES	113,880,098	112,353,652	107,634,380	99,065,829	91,796,316	97,124,595
Net Asset Value Per Share	(13.50)	(14.38)	(8.82)	(9.37)	(25.54)	(21.42)
	-	-	-	-	-	-

L.I.Ratnasabapathy

Director

A.M.De Alwis

Director

Date 22nd August 2022

CEYLON PRINTERS PLC

Statement of Changes in Equity

For Three Months Ended 30th June 2022

Group	Stated Revaluation	Retained	Available for Non Controlling	Total
	Capital	Reserve	Earnings	sale Reserve	Interest
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Balance as at 01/04/2021	30,358,500	16,565,427	(52,415,379)	471,019	2,096,714	(2,923,719)
Profit/(Loss) for the period	0	0	(4,020,282)	0	(9,997)	(4,030,279)
Other Comprehensive Income /(Expense) for the year	0	0	416,753	(7,574)	(12,522)	396,657
Total Other Comprehensive Income /(Expense) for the year	0	0	(3,603,529)	(7,574)	(22,519)	(3,633,622)
Balance as at 30/06/2021	30,358,500	16,565,427	(56,018,908)	463,445	2,074,195	(6,557,341)
Balance as at 01/04/2022	30,358,500	21,265,425	(57,395,751)	477,969	2,006,449	(3,287,408)
Profit/(Loss) for the period	0		(2,582,277)	0	3,357	(2,578,920)
Other Comprehensive Income /(Expense) for the year	0		(215,641)	(9,744)	3,465	(221,920)
Reserves-FA Replacement Reserve		0				0
Total Other Comprehensive Income /(Expense) for the year	0		(2,797,918)	(9,744)	6,822	(2,800,840)
Balance as at 30/06/2022	30,358,500	21,265,425	(60,193,669)	468,225	2,013,271	(6,088,248)
Company	Stated Revaluation	Retained	Available for		Total
	Capital	Reserve	Earnings	sale Reserve
	Rs.	Rs.	Rs.	Rs.		Rs.
Balance as at 01/04/2021	30,358,500	10,047,628	(51,799,005)	343,754		(11,049,123)
Profit/(Loss) for the period	0		(4,581,242)	0		(4,581,242)
Other Comprehensive Income /(Expense) for the year	0		302,105	0		302,105
	0		(4,279,137)	0		(4,279,137)
Balance as at 30/06/2021	30,358,500	10,047,628	(56,078,142)	343,754		(15,328,260)
Balance as at 01/04/2022	30,358,500	14,747,625	(58,307,457)	343,754		(12,857,578)
Profit/(Loss) for the period	0		7,485,557	0		7,485,557
Other Comprehensive Income /(Expense) for the year	0		(254,230)	0		(254,230)
Reserves-FA Replacement Reserve		0				0
Total Other Comprehensive Income /(Expense) for the year	0		7,231,327	0		7,231,327
Balance as at 30/06/2022	30,358,500	14,747,625	(51,076,130)	343,754		(5,626,251)

CEYLON PRINTERS PLC

Cash Flow Statements

	Group		Company
	Three	Three	Three e	Three
	months ended	months ended	months ended	months ended
	30th June 2022	30th June 2021	30th June 2022	30th June 2021
Cash Flow From Operating Activities	Rs.	Rs.	Rs.	Rs.
Net Profit/(Loss) Before Taxation And Extraordinary Items	(2,582,277)	(3,761,398)	7,485,557	(4,581,242)
Adjustment for
Depreciation	2,159,530	1,904,706	1,777,654	1,522,830
Interest Cost	1,029,088	752,248	939,340	712,915
Provision For Gratuity	325,045	467,806	148,207	277,069
Operating Profit/(Loss) Before Working Capital Changes	931,386	(636,638)	10,350,758	(2,068,428)
Working Capital Adjustment
Increase /( Decrease) in Inventories	7,427,697	(2,767,595)	7,427,697	(2,767,595)
Increase / (Decrease) in Trade and Other Receivables	(10,841,978)	(2,739,605)	(10,846,586)	(441,365)
Increase /( Decrease) in Trade and Other Payables	8,773,613	9,802,446	(1,166,565)	9,725,955
Increase / (Decrease) Change in Other Accounts Payable	3,378,764	3,411,760	(2,859,129)	3,012,906
Cash Generated From Operations	9,669,482	7,070,368	2,906,175	7,461,473
Gratuity Paid	0	(389,950)	0	(389,950)
Net Cash Flows From Operating Activities	9,669,482	6,680,418	2,906,175	7,071,523
Cash Flow From Investing Activities
Purchase of Property, Plant And Equipment	0	(154,775)	0	(154,775)
Fixed Deposit Investment During the Year	0	(4,239)	0	0
Net Cash Flow from Investing Activities	0	(159,014)	0	(154,775)
Cash Flow From Financing Activities
Other Loans	(9,288,043)	(8,005,591)	(9,288,043)	(8,005,591)
Interest Cost	(1,029,088)	(752,248)	(939,340)	(712,915)
Net Cash Flows From Financing Activities	(10,317,131)	(8,757,839)	(10,227,383)	(8,718,506)
Net Increase/(Decrease) In Cash and Cash Equivalents	(647,649)	(2,236,435)	(7,321,208)	(1,801,758)
Cash and Cash Equivalents at the Beginning of the Year	(10,387,511)	(13,150,772)	(8,871,786)	(11,520,783)
Cash and Cash Equivalents at the End of the Year (Note A)	(11,035,160)	(15,387,207)	(16,192,994)	(13,322,541)
Note A - Cash and Cash Equivalents
Favourable Balances	7,316,762	1,075,940	2,100,917	916,002
Cash in hand and at Bank
Unfavourable Balances
Bank Overdraft	(18,351,922)	(16,463,147)	(18,293,911)	(14,238,543)
	(11,035,160)	(15,387,207)	(16,192,994)	(13,322,541)