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EX-PACK CORRUGATED CARTONS PLC
INTERIM FINANCIAL STATEMENTS QUARTER ENDED 31ST DECEMBER 2022
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STATEMENT OF FINANCIAL POSITION | ||||||||
GROUP | COMPANY | |||||||
As at | 31.12.2022 | 31.03.2022 | 31.12.2022 | 31.03.2022 | ||||
unaudited | audited | unaudited | audited | |||||
ASSETS | ||||||||
Non-current assets | ||||||||
Property, plant, and equipment | 1,715,677 | 1,659,104 | 1,615,058 | 1,641,987 | ||||
Right-of-use assets | 220,015 | 104,684 | 59,293 | 35,250 | ||||
Investment properties | - | - | - | |||||
Intangible assets | 687 | 1,030 | 620 | 939 | ||||
Investment in subsidiaries | - | 205,000 | 205,000 | |||||
Goodwill | 203,544 | 203,544 | - | |||||
Deferred tax assets | 24,521 | 24,521 | - | |||||
2,164,444 | 1,992,883 | 1,879,972 | 1,883,176 | |||||
Current assets | ||||||||
Inventories | 1,697,919 | 1,077,191 | 1,227,236 | 847,084 | ||||
Trade and other receivables | 2,031,490 | 1,973,934 | 1,563,632 | 1,611,131 | ||||
Advances and prepayments | 196,861 | 85,859 | 172,081 | 47,959 | ||||
Other financial assets | 500,000 | 466,975 | 500,000 | 466,975 | ||||
Cash in hand and at bank | 248,616 | 975,074 | 139,522 | 817,850 | ||||
4,674,886 | 4,579,033 | 3,602,472 | 3,790,999 | |||||
Total assets | 6,839,330 | 6,571,916 | 5,482,443 | 5,674,175 | ||||
EQUITY AND LIABILITIES | ||||||||
Equity | ||||||||
Stated capital | 1,200,000 | 1,200,000 | 1,200,000 | 1,200,000 | ||||
Revaluation reserves | 291,992 | 291,992 | 291,992 | 291,992 | ||||
Retained earnings | 1,040,679 | 408,698 | 615,871 | 252,337 | ||||
Equity Attributable to Equity Holders of the Parent | 2,532,671 | 1,900,690 | 2,107,863 | 1,744,329 | ||||
Non Controling Interest | (517) | (109) | ||||||
Total Equity | 2,532,154 | 1,900,581 | 2,107,863 | 1,744,329 | ||||
Non-current liabilities | ||||||||
Deferred Tax Liability | 77,415 | 77,415 | 77,415 | 77,415 | ||||
Retirement Benefit Liability | 121,329 | 102,427 | 86,791 | 75,096 | ||||
Interest Bearing Loans and Borrowings | 187,483 | 79,481 | 52,698 | 29,505 | ||||
386,227 | 259,323 | 216,904 | 182,016 | |||||
Current liabilities | ||||||||
Interest Bearing Loans and Borrowings | 2,762,479 | 3,134,556 | 2,365,879 | 2,849,506 | ||||
Trade and Other Payables | 804,580 | 1,167,689 | 562,860 | 842,040 | ||||
Income Tax Payable | 353,890 | 109,767 | 228,938 | 56,284 | ||||
3,920,949 | 4,412,012 | 3,157,677 | 3,747,829 | |||||
Total equity and liabilities | 6,839,330 | 6,571,916 | 5,482,443 | 5,674,175 | ||||
LKR | LKR | LKR | LKR | |||||
Net assets per share | 7.60 | 5.70 | 6.32 | 5.23 | ||||
Note:
All values are in LKR '000s, unless otherwise stated.
The amounts are provisional and subject to audit.
I certify that the nancial statements comply with the requirements of the Companies Act No.7 of 2007.
SIGNED
Abdul Lati Ahamed
Head of Finance
The Board of Directors are responsible for these nancial statements.
SIGNED | SIGNED |
Zulcar Ghouse | Dinesh Dharmadasa |
Managing Director | Director |
01 February 2023 | Colombo |
EX-PACK CORRUGATED CARTONS PLC
INTERIM FINANCIAL STATEMENTS FOR THE 3rd QUARTER ENDED 31st DECEMBER 2022
01
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CONSOLIDATED INCOME STATEMENT | |||||||||
Quarter ended 31 December | Nine months ended 31 December | ||||||||
2022 | 2021 | Change | 2022 | 2021 | Change | ||||
Unaudited | Unaudited | % | Unaudited | Unaudited | % | ||||
Revenue | 3,538,001 | 2,369,269 | 49% | 10,542,362 | 5,841,941 | 80% | |||
Cost of sales | (2,576,165) | (2,001,633) | 29% | (7,955,031) | (4,877,273) | 63% | |||
Gross profit | 961,836 | 367,637 | 162% | 2,587,330 | 964,668 | 168% | |||
Other income and gains | 12,544 | 25,717 | -51% | 162,964 | 41,288 | 295% | |||
Selling and distribution costs | (124,529) | (86,575) | 44% | (331,427) | (226,720) | 46% | |||
Administrative expenses | (160,141) | (104,756) | 53% | (467,362) | (266,978) | 75% | |||
Operating profit | 689,710 | 202,024 | 241% | 1,951,505 | 512,258 | 281% | |||
Finance cost | (167,511) | (49,036) | 242% | (398,964) | (137,916) | 189% | |||
Profit/(loss) before tax | 522,199 | 152,988 | 241% | 1,552,542 | 374,342 | 315% | |||
Tax expense | (171,523) | (27,039) | 534% | (337,636) | (48,277) | 599% | |||
Profit/(loss) for the period | 350,676 | 125,948 | 178% | 1,214,906 | 326,064 | 273% | |||
Attributable to: | |||||||||
Equityholders of the parent | 350,923 | 125,948 | 179% | 1,215,315 | 326,064 | 273% | |||
Non Controling Interest | (247) | (409) | |||||||
350,676 | 125,948 | 178% | 1,214,906 | 326,064 | 273% | ||||
LKR | LKR | LKR | LKR | ||||||
Earnings per share | 1.05 | 0.45 | 132% | 3.65 | 1.26 | 190% | |||
Note:
All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The amounts are provisional and subject to audit.
EX-PACK CORRUGATED CARTONS PLC
INTERIM FINANCIAL STATEMENTS FOR THE 3rd QUARTER ENDED 31st DECEMBER 2022
02
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COMPANY INCOME STATEMENT | |||||||
Quarter ended 31 December | Nine months ended 31 December | ||||||
2022 | 2021 | Change | 2022 | 2021 | Change | ||
Unaudited | Unaudited | % | Unaudited | Unaudited | % | ||
Revenue | 1,923,062 | 1,386,957 | 39% | 6,072,050 | 3,705,947 | 64% | |
Cost of sales | (1,257,361) | (1,136,984) | 11% | (4,310,167) | (3,030,842) | 42% | |
Gross profit | 665,701 | 249,972 | 166% | 1,761,883 | 675,105 | 161% | |
Other income and gains | 183,557 | 43,114 | 326% | 373,040 | 65,277 | 471% | |
Selling and distribution costs | (111,391) | (80,555) | 38% | (293,085) | (212,873) | 38% | |
Administrative expenses | (120,221) | (79,972) | 50% | (362,017) | (195,974) | 85% | |
Operating profit | 617,646 | 132,560 | 366% | 1,479,822 | 331,535 | 346% | |
Finance cost | (128,304) | (40,992) | 213% | (319,589) | (114,659) | 179% | |
Profit/(loss) before tax | 489,342 | 91,568 | 434% | 1,160,233 | 216,876 | 435% | |
Tax expense | (118,328) | (11,002) | 976% | (213,366) | (29,804) | 616% | |
Profit/(loss) for the period | 371,013 | 80,566 | 361% | 946,867 | 187,073 | 406% | |
Attributable to: | |||||||
Equityholders of the parent | 371,013 | 80,566 | 361% | 946,867 | 187,073 | 406% | |
LKR | LKR | LKR | LKR | ||||
Earnings per share | 1.11 | 0.29 | 284% | 2.84 | 0.72 | 294% | |
Note:
All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The amounts are provisional and subject to audit
EX-PACK CORRUGATED CARTONS PLC
INTERIM FINANCIAL STATEMENTS FOR THE 3rd QUARTER ENDED 31st DECEMBER 2022
03
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STATEMENT OF CASH FLOWS
GROUP | COMPANY | ||||||
For the Nine Months ended 31 December | 2022 Unaudited 2021 Unaudited 2022 Unaudited 2021 Unaudited | ||||||
CASHFLOW FROM / (USED IN) OPERATING ACTIVITIES | |||||||
Profit/(loss) before tax | 1,552,542 | 374,342 | 1,160,233 | 216,876 | |||
Adjustments for: | |||||||
Depreciation of property, plant and equipment | 70,902 | 56,985 | 58,012 | 50,432 | |||
Amortization of right-of-use assets | 38,501 | 23,917 | 9,260 | 8,015 | |||
Amortization of intangible assets | 342 | 4,591 | 319 | 4,559 | |||
Provision of retirement benefit liability | 20,948 | 17,563 | 12,454 | 9,069 | |||
Profit/(Loss) on Disposal of Property, Plant and Equipment | (5,641) | 297 | (5,014) | 297 | |||
Lease interest | 22,646 | 9,915 | 10,066 | 4,402 | |||
Finance cost | 377,964 | 126,160 | 310,768 | 110,257 | |||
Operating profit before working capital changes | 2,078,202 | 613,770 | 1,556,096 | 403,907 | |||
(Increase)/Decrease in inventories | (629,366) | (105,795) | (388,791) | (25,522) | |||
(Increase)/Decrease in trade and other receivables | (69,016) | (100,474) | 47,499 | (207,617) | |||
(Increase)/Decrease in advances and prepayments | (102,362) | (228,565) | (115,484) | (231,955) | |||
Increase/(Decrease) in trade and other payables | (396,594) | 37,886 | (324,098) | (14,481) | |||
Cash generated from operations | 880,863 | 216,821 | 775,223 | (75,667) | |||
Gratuity paid | (2,046) | (1,244) | (759) | (1,003) | |||
Tax paid | (93,344) | (29,087) | (40,711) | (29,087) | |||
Finance cost paid | (377,964) | (126,160) | (310,768) | (110,257) | |||
Net cashflow from / (used in) operating activities | 407,510 | 60,330 | 422,984 | (216,014) | |||
CASHFLOW FROM / (USED IN) INVESTING ACTIVITIES | |||||||
Acquisition of property, plant and equipment | (67,756) | (40,181) | (31,083) | (37,853) | |||
Acquisition of intangible assets | (48,642) | (438 | - | (438) | |||
Investing in fixed deposits | - | (527,000) | (527,000) | ||||
Proceeds from Sale of Property Plant and Equipment | 950 | 400 | 400 | ||||
Net cashflow from / (used in) investing activities | (115,448) | (567,219) | (31,083) | (564,891) | |||
CASHFLOW FROM / (USED IN) FINANCING ACTIVITIES | |||||||
Net Increase/(Decrease) in interest bearing loans and borrowings | (378,356) | 110,400 | (471,734) | 292,736 | |||
Proceeds From Finance Lease | 700,000 | 700,000 | |||||
Payment of finance lease liabilities | (56,831) | (32,202) | (15,162) | (10,944) | |||
Payment of dividend | (583,333) | (96,667) | (583,333) | (96,667) | |||
Net cashflow from / (used in) financing activities | (1,018,520) | 681,532 | (1,070,229) | 885,125 | |||
NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS | (726,458) | 174,643 | (678,328) | 104,220 | |||
CASH AND CASH EQUIVALENTS AT THE BEGINNING | 975,074 | 73,611 | 817,850 | 63,462 | |||
CASH AND CASH EQUIVALENTS AT THE END | 248,616 | 248,254 | 139,522 | 167,682 | |||
Note:
All values are in LKR '000s, unless otherwise stated.
Figures in brackets indicate deductions.
The amounts are provisional and subject to audit.
EX-PACK CORRUGATED CARTONS PLC
INTERIM FINANCIAL STATEMENTS FOR THE 2ND QUARTER ENDED 30TH SEPTEMBER 2022
04
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Ex-Pack Corrugated Cartons Ltd. published this content on 01 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2023 10:07:09 UTC.