KEGALLE PLANTATIONS PLC INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC
STATEMENT OF FINANCIAL POSITION
Group | Company | ||||||||||
Year Ended | Year Ended | ||||||||||
2022 | 31 March | 2022 | 31 March | ||||||||
As at 31 December | 2022 | 2022 | |||||||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||||||||
ASSETS | |||||||||||
Non - Current Assets | |||||||||||
Leasehold property, plant and equipment | 477,999 | 488,108 | 477,999 | 488,108 | |||||||
Freehold property, plant and equipment | 734,485 | 628,467 | 719,417 | 610,681 | |||||||
Bearer biological assets | 3,174,384 | 2,952,415 | 3,174,384 | 2,952,415 | |||||||
Consumable biological assets | 190,705 | 190,705 | 190,705 | 190,705 | |||||||
Financial Assets | 199,080 | 199,080 | 199,080 | 199,080 | |||||||
Long term investments | 2,096,463 | 1,935,038 | 491,850 | 491,850 | |||||||
6,873,116 | 6,393,812 | 5,253,435 | 4,932,838 | ||||||||
Current Assets | |||||||||||
Produce on bearer biological assets | 7,784 | 7,784 | 7,784 | 7,784 | |||||||
Inventories | 850,833 | 445,466 | 850,719 | 445,352 | |||||||
Trade and other receivables | 753,036 | 455,788 | 751,022 | 454,166 | |||||||
VAT recoverable | 21,066 | 21,066 | 21,066 | 21,066 | |||||||
ESC Recoverable | 2,211 | 8,846 | 2,211 | 8,846 | |||||||
Income tax recoverable | 16,131 | 15,254 | 16,131 | 15,254 | |||||||
Amounts due from related Companies | 27,895 | 11,681 | 53,516 | 38,509 | |||||||
Short term investment | 590,016 | 776,496 | 590,016 | 776,496 | |||||||
Cash and bank balances | 22,856 | 15,841 | 22,856 | 15,841 | |||||||
2,291,830 | 1,758,221 | 2,315,322 | 1,783,313 | ||||||||
Total Assets | |||||||||||
9,164,945 | 8,152,032 | 7,568,757 | 6,716,151 | ||||||||
EQUITY & LIABILITIES | |||||||||||
Capital & Reserves | |||||||||||
Stated capital (Note 1) | 250,000 | 250,000 | 250,000 | 250,000 | |||||||
General reserve | 225,000 | 225,000 | 225,000 | 225,000 | |||||||
Timber reserve | 49,815 | 49,815 | 49,815 | 49,815 | |||||||
Fair Value Through Other Comprehensive Income Reserve | 48,588 | 48,588 | 48,600 | 48,600 | |||||||
Retained profit | 5,177,664 | 4,142,379 | 3,591,388 | 2,716,421 | |||||||
Shareholders' Fund | 5,751,068 | 4,715,782 | 4,164,803 | 3,289,836 | |||||||
Non - Current Liabilities | |||||||||||
Loans & borrowings | 597,904 | 804,160 | 597,904 | 804,160 | |||||||
Retirement benefit obligations | 458,950 | 443,213 | 458,950 | 443,213 | |||||||
Deferred income | 216,615 | 211,001 | 216,615 | 211,001 | |||||||
Deferred tax liability | 414,171 | 247,402 | 414,171 | 247,402 | |||||||
Liability to make lease payment after one year | 499,646 | 504,396 | 499,646 | 504,399 | |||||||
2,187,287 | 2,210,172 | 2,187,287 | 2,210,174 | ||||||||
Current Liabilities | |||||||||||
Loans & borrowings | 479,592 | 441,548 | 479,592 | 441,548 | |||||||
Liability to make lease payment within one year | 6,304 | 6,304 | 6,304 | 6,304 | |||||||
Trade and other payables | 363,654 | 363,931 | 358,849 | 359,114 | |||||||
Dividend payable | 37,436 | 162,553 | 37,436 | 162,553 | |||||||
Amounts due to related Companies | 339,605 | 251,740 | 334,486 | 246,621 | |||||||
1,226,591 | 1,226,078 | 1,216,667 | 1,216,141 | ||||||||
Total Equity & Liabilities | |||||||||||
9,164,945 | 8,152,032 | 7,568,757 | 6,716,151 | ||||||||
Net Asset Value per Share (Rs.) | 230.04 | 188.63 | 166.59 | 131.59 | |||||||
The above figures are subject to audit
These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.
Sudheera Epitakumbura
Deputy Group Chief Financial Officer
The Board of Directors is responsible for these Financial Statements.
Approved and signed for and on behalf of the Board of Directors of Kegalle Plantations PLC.
Dr. S S B D G Jayawardena | J L A Fernando | ||
Director | Director | ||
Colombo | |||
14 February 2023 | |||
Kegalle Plantations PLC | 2022/23 - Q3 |
INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC
STATEMENT OF PROFIT OR LOSS
Group
For the nine months ended 31 December | Quarter Ended | Nine Months Ended | Year Ended | |||||||||||||
2021 | Variance | Variance | 31 March | |||||||||||||
2022 | 2022 | 2021 | ||||||||||||||
+ / (-) | + / (-) | 2022 | ||||||||||||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | % | Rs. '000 | ||||||||||
Revenue | 1,047,972 | 784,524 | 34 | 4,127,477 | 2,661,842 | 55 | 3,627,751 | |||||||||
Cost of sales | (826,308) | (626,941) | (32) | (3,054,964) | (2,250,993) | (36) | (3,095,130) | |||||||||
Gross profit | 221,664 | 157,584 | 41 | 1,072,513 | 410,850 | 161 | 532,621 | |||||||||
Gain/(Loss) on fair value of biological assets | - | - | - | - | - | - | 15,621 | |||||||||
Other income | 33,980 | 29,649 | 15 | 84,334 | 78,239 | 8 | 92,566 | |||||||||
Administrative expenses | (19,040) | (11,818) | (61) | (48,759) | (38,042) | (28) | (60,140) | |||||||||
Management fee | (37,845) | (27,328) | (38) | (174,108) | (73,437) | (137) | (94,629) | |||||||||
Profit/(loss) from operations | 198,760 | 148,086 | 34 | 933,980 | 377,609 | 147 | 486,040 | |||||||||
Finance income | 23,930 | 10,879 | 120 | 296,248 | 26,467 | 1,019 | 181,044 | |||||||||
Finance cost | (65,484) | (24,958) | (162) | (182,964) | (79,300) | (131) | (103,562) | |||||||||
Net finance income/(loss) | (41,554) | (14,078) | (195) | 113,284 | (52,833) | 314 | 77,482 | |||||||||
Share of result of associates | 19,570 | 73,677 | (73) | 236,117 | 178,249 | 32 | 396,156 | |||||||||
Profit before taxation | 176,776 | 207,685 | (15) | 1,283,381 | 503,025 | 155 | 959,678 | |||||||||
Tax (expenses) / reversal | (168,616) | (8,779) | (1,821) | (201,396) | (37,871) | 345 | (163,099) | |||||||||
Profit for the period | ||||||||||||||||
8,160 | 198,906 | (96) | 1,081,984 | 465,155 | 133 | 796,579 | ||||||||||
Basic earnings per share (Rs.) | 0.33 | 7.96 | 43.28 | 18.61 | 31.86 | |||||||||||
Dividend per share (Rs.) | - | - | - | - | - | |||||||||||
Company | ||||||||||||||||
For the nine months ended 31 December | Quarter Ended | Nine Months Ended | Year Ended | |||||||||||||
Variance | Variance | 31 March | ||||||||||||||
2022 | 2021 | 2022 | 2021 | |||||||||||||
+ / (-) | + / (-) | 2022 | ||||||||||||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | % | Rs. '000 | ||||||||||
Revenue | 1,047,972 | 784,524 | 34 | 4,127,477 | 2,661,842 | 55 | 3,627,751 | |||||||||
Cost of sales | (826,308) | (626,941) | (32) | (3,054,964) | (2,250,993) | (36) | (3,095,130) | |||||||||
Gross profit | 221,664 | 157,584 | 41 | 1,072,513 | 410,850 | 161 | 532,621 | |||||||||
Gain/(Loss) on fair value of biological assets | - | - | - | - | - | - | 15,621 | |||||||||
Other income | 33,391 | 29,087 | 15 | 82,584 | 76,486 | 8 | 90,251 | |||||||||
Administrative expenses | (18,081) | (11,031) | (64) | (45,903) | (35,679) | (29) | (56,376) | |||||||||
Management fee | (37,845) | (27,328) | (38) | (174,108) | (73,437) | (137) | (94,629) | |||||||||
Profit/(loss) from operations | 199,130 | 148,312 | 34 | 935,086 | 378,219 | 147 | 487,489 | |||||||||
Finance income | 23,930 | 10,879 | 120 | 296,248 | 26,467 | 1,019 | 181,044 | |||||||||
Finance cost | (65,484) | (24,958) | (162) | (182,964) | (79,300) | (131) | (103,562) | |||||||||
Net finance income/(loss) | (41,554) | (14,078) | (195) | 113,284 | (52,833) | 314 | 77,482 | |||||||||
Share of result of associates | - | - | - | - | - | - | - | |||||||||
Profit/(loss) before taxation | 157,576 | 134,234 | 17 | 1,048,370 | 325,386 | 222 | 564,971 | |||||||||
Tax (expenses) / reversal | (168,981) | (3,064) | (5,416) | (173,403) | (9,191) | 1,787 | (87,068) | |||||||||
Profit/(loss) for the period | ||||||||||||||||
(11,405) | 131,170 | (109) | 874,967 | 316,196 | 177 | 477,903 | ||||||||||
Basic earnings/(loss) per share (Rs.) | (0.46) | 5.25 | 35.00 | 12.65 | 19.12 | |||||||||||
Dividend per share (Rs.) | - | - | - | - | 5.00 |
Figures in brackets indicate deductions
The above figures are subject to audit
Kegalle Plantations PLC | 2022/23 - Q3 |
INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC
STATEMENT OF COMPREHENSIVE INCOME
Group
For the nine months ended 31 December | Quarter Ended | Nine Months Ended | Year Ended | |||||||||||
2022 | 2021 | Variance | 2022 | 2021 | Variance | 31 March | ||||||||
+ / (-) | + / (-) | 2022 | ||||||||||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | % | Rs. '000 | ||||||||
Profit for the period | ||||||||||||||
8,160 | 198,906 | (96) | 1,081,984 | 465,155 | 133 | 796,579 | ||||||||
Other Comprehensive Income | ||||||||||||||
Other Comprehensive income not to be reclassified to profit or loss in | ||||||||||||||
Subsequent periods (net of tax) |
Actuarial Gain/(Loss) on Defined Benefit Plans
Income tax effect
Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods
Share of Other Comprehensive Income of Equity Accounted Investees
Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods (net of tax)
Actuarial Gain/(Loss) on Defined Benefit Plans
Income tax effect
Net Gain/(Loss) on FVTOCI financial assets
Income tax effect
Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods
Other Comprehensive income to be reclassified to profit or loss in Subsequent periods (net of tax)
Other Comprehensive Income/(Loss) for the period, net of tax
Total Comprehensive Income for the period, net of tax
- | - | - | - | - | - | 12,501 | ||||||
- | - | - | - | - | - | (1,750) | ||||||
- | - | - | - | - | - | 10,751 | ||||||
- | - | - | - | - | - | (3,336) | ||||||
- | - | - | - | - | - | 467 | ||||||
- | - | - | - | - | - | (2,869) | ||||||
(13,295) | - | (100) | (46,699) | - | (100) | 3,700 | ||||||
- | - | - | - | - | - | (3,204) | ||||||
(13,295) | - | (100) | (46,699) | - | (100) | 496 | ||||||
(13,295) | - | (100) | (46,699) | - | (100) | (2,374) | ||||||
- | - | - | - | - | - | - | ||||||
(13,295) | - | (100) | (46,699) | - | (100) | 8,377 | ||||||
(5,135) | 198,906 | (102.58) | 1,035,285 | 465,155 | 122.57 | 804,956 |
Company
For the nine months ended 31 December | Quarter Ended | Nine Months Ended | Year Ended | |||||||||||
2022 | 2021 | Variance | 2022 | 2021 | Variance | 31 March | ||||||||
+ / (-) | + / (-) | 2022 | ||||||||||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | % | Rs. '000 | ||||||||
Profit for the period | ||||||||||||||
(11,405) | 131,170 | (109) | 874,967 | 316,196 | 177 | 477,903 | ||||||||
Other Comprehensive Income |
Other Comprehensive income not to be reclassified to profit or loss in
Subsequent periods (net of tax)
Actuarial Gain/(Loss) on Defined Benefit Plans
Income tax effect
Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods
Share of Other Comprehensive Income of Equity Accounted Investees
Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods (net of tax)
Actuarial Gain/(Loss) on Defined Benefit Plans
Income tax effect
Net Gain/(Loss) on FVTOCI financial assets
Income tax effect
Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods
Other Comprehensive income to be reclassified to profit or loss in Subsequent periods (net of tax)
Other Comprehensive Income/(Loss) for the period, net of tax
Total Comprehensive Income for the period, net of tax
- | - | - | - | - | - | 12,501 | ||||||
- | - | - | - | - | - | (1,750) | ||||||
- | - | - | - | - | - | 10,751 | ||||||
- | - | - | - | - | - | - | ||||||
- | - | - | - | - | - | - | ||||||
- | - | - | - | - | - | - | ||||||
- | - | - | - | - | - | 32,040 | ||||||
- | - | - | - | - | - | (3,204) | ||||||
- | - | - | - | - | - | 28,836 | ||||||
- | - | - | - | - | - | 28,836 | ||||||
- | - | - | - | - | - | - | ||||||
- | - | - | - | - | - | 39,587 | ||||||
(11,405) | 131,170 | (109) | 874,967 | 316,196 | 177 | 517,490 |
Figures in brackets indicate deductions
The above figures are subject to audit
Kegalle Plantations PLC | 2022/23 - Q3 |
INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC
STATEMENT OF CHANGES IN EQUITY
Group
For the nine months ended 31 December | Stated | General | Timber | FVTOCI | Retained | Total | ||||||
Capital | Reserve | Reserve | Reserve | Profit | ||||||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |||||||
Balance as at 31 March 2021 | 250,000 | 225,000 | 35,583 | 48,588 | 3,477,533 | 4,036,704 | ||||||
Prior period adjustment for Surcharge Tax | - | - | - | - | (877) | (877) | ||||||
Profit for the Period | - | - | - | - | 465,155 | 465,155 | ||||||
Other Comprehensive Income | - | - | - | - | - | - | ||||||
Timber Reserve | - | - | - | - | - | - | ||||||
Dividend Paid | - | - | - | - | - | - | ||||||
Balance as at 31 December 2021 | 250,000 | 225,000 | 35,583 | 48,588 | 3,941,811 | 4,500,982 | ||||||
Balance as at 31 March 2022 | 250,000 | 225,000 | 49,815 | 48,588 | 4,142,379 | 4,715,782 | |||||
Profit for the Period | - | - | - | - | 1,081,984 | 1,081,984 | |||||
Other Comprehensive Income | - | - | - | - | (46,699) | (46,699) | |||||
Timber Reserve | - | - | - | - | - | - | |||||
Dividend Paid | - | - | - | - | - | - | |||||
Balance as at 31 December 2022 | 250,000 | 225,000 | 49,815 | 48,588 | 5,177,664 | 5,751,068 | |||||
Company | |||||||||||
For the nine months ended 31 December | Stated | General | Timber | FVTOCI | Retained | Total | |||||
Capital | Reserve | Reserve | Reserve | Profit | |||||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||||||
Balance as at 31 March 2021 | 250,000 | 225,000 | 35,583 | 48,600 | 2,339,040 | 2,898,223 | |||||
Prior period adjustment for Surcharge Tax | - | - | - | - | (877) | (877) | |||||
Profit for the Period | - | - | - | - | 316,196 | 316,196 | |||||
Other Comprehensive Income | - | - | - | - | - | - | |||||
Timber Reserve | - | - | - | - | - | - | |||||
Dividend Paid | - | - | - | - | - | - | |||||
Balance as at 31 December 2021 | 250,000 | 225,000 | 35,583 | 48,600 | 2,654,359 | 3,213,542 | |||||
Balance as at 31 March 2022 | 250,000 | 225,000 | 49,815 | 48,600 | 2,716,421 | 3,289,836 | |||||
Profit for the Period | - | - | - | - | 874,967 | 874,967 | |||||
Other Comprehensive Income | - | - | - | - | - | - | |||||
Timber Reserve | - | - | - | - | - | - | |||||
Dividend Paid | - | - | - | - | - | - | |||||
Balance as at 31 December 2022 | 250,000 | 225,000 | 49,815 | 48,600 | 3,591,388 | 4,164,803 | |||||
The above figures are subject to audit
Kegalle Plantations PLC | 2022/23 - Q3 |
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Kegalle Plantations plc published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 11:04:08 UTC.
