ODEL PLC
Interim Report
3rd Quarter - 2022/2023
ODEL PLC | Interim Report | 2022/2023Page ~ 1 ~
STATEMENT OF INCOME
Nine months ended 31st December 2022 | ||||||
GROUP | Quarter ended 31st December | Nine months ended 31st December | ||||
Unaudited | Unaudited | Unaudited | Unaudited | |||
2022/23 | 2021/22 | 2022/23 | 2021/22 | |||
LKR | LKR | LKR | LKR | |||
Revenue from contracts with customers | 2,407,146,998 | 2,818,708,568 | 6,412,969,709 | 5,012,873,849 | ||
Cost of sales | (1,095,211,774) | (1,417,359,043) | (2,720,206,307) | (2,544,089,972) | ||
Gross profit | 1,311,935,224 | 1,401,349,524 | 3,692,763,402 | 2,468,783,877 | ||
Other income | 12,290,911 | 6,593,293 | 28,422,572 | (12,935,108) | ||
Distribution expenses | (110,495,722) | (90,464,354) | (229,520,964) | (165,085,048) | ||
Administrative expenses | (927,989,946) | (885,387,091) | (2,697,268,883) | (2,263,339,375) | ||
Operating Profit/(Loss) | 285,740,467 | 432,091,372 | 794,396,127 | 27,424,346 | ||
Finance costs | (1,021,359,887) | (340,859,457) | (2,460,932,153) | (898,978,583) | ||
Finance income | (3,838,092) | 3,724,294 | 945,676 | 11,559,246 | ||
Profit/(Loss) before tax | (739,457,512) | 94,956,210 | (1,665,590,350) | (859,994,990) | ||
Income tax expense | (12,208,668) | (7,676,027) | (27,492,421) | 151,737,293 | ||
Profit/(Loss) for the period | (751,666,180) | 87,280,183 | (1,693,082,771) | (708,257,698) | ||
Attributable to: | ||||||
Owners of the parent | (751,666,180) | 87,280,183 | (1,693,082,771) | (708,257,698) | ||
Non controlling interest | - | - | - | - | ||
(751,666,180) | 87,280,183 | (1,693,082,771) | (708,257,698) | |||
Earning per share | ||||||
Basic, profit/(loss) for the period attributable to | (2.76) | 0.32 | (6.22) | (2.92) | ||
ordinary equity holders of the parent |
ODEL PLC | Interim Report | 2022/2023 | Page ~ 2 ~ |
STATEMENT OF COMPREHENSIVE INCOME
Nine months ended 31st December 2022
Group | Quarter ended 31st December | Nine months ended 31st December |
UnauditedUnaudited
2022/232021/22
LKRLKR
UnauditedUnaudited
2022/232021/22
LKRLKR
Profit/(Loss) for the period | (751,666,180) | 87,280,183 | (1,693,082,771) | (708,257,698) | ||
Other comprehensive income not to be reclassified | ||||||
to income statement in subsequent periods | ||||||
Actuarial gain/(loss) on defined benefit plans | - | - | - | - | ||
Income tax effect | - | - | - | - | ||
- | - | - | - | |||
Revaluation of land and buildings | - | - | - | - | ||
Income tax effect | - | - | - | - | ||
- | - | - | - | |||
Other comprehensive profit/(loss) for the period, net | - | - | - | - | ||
Total comprehensive profit/loss for the period, net | (751,666,180) | 87,280,183 | (1,693,082,771) | (708,257,698) | ||
of tax | ||||||
Attributable to: | ||||||
Equity holders of the parent | (751,666,180) | 87,280,183 | (1,693,082,771) | (708,257,698) | ||
Non-controlling interests | - | - | - | - |
ODEL PLC | Interim Report | 2022/2023 | Page ~ 3 ~ | ||||||
STATEMENT OF FINANCIAL POSITION | |||||||
As at 31st December 2022 | |||||||
Group | |||||||
Unaudited | Unaudited | Unaudited | |||||
31-12-2022 | 31-12-2021 | 31-03-2022 | |||||
LKR | LKR | LKR | |||||
ASSETS | |||||||
Non Current Assets | |||||||
Property, plant & equipment | 9,753,862,834 | 9,640,065,658 | 9,648,998,681 | ||||
Investment property | 1,870,100,000 | 1,730,000,000 | 1,870,100,000 | ||||
Right of use assets | 2,081,182,569 | 1,396,056,166 | 2,693,339,001 | ||||
Other non current assets | 8,725,030,925 | 6,594,356,067 | 6,825,995,997 | ||||
Intangible assets | 175,554,680 | 228,974,139 | 215,409,804 | ||||
Other financial assets | 240,272,779 | 251,725,726 | 472,705,738 | ||||
Goodwill | 445,565,053 | 445,565,053 | 445,565,053 | ||||
Deferred tax asset | 711,162,629 | 546,325,760 | 272,534,502 | ||||
24,002,731,469 | 20,833,068,569 | 22,444,648,776 | |||||
Current Assets | |||||||
Inventories | 4,441,484,364 | 3,610,867,325 | 4,290,170,550 | ||||
Trade and other receivables | 1,371,127,096 | 1,203,641,572 | 1,175,431,544 | ||||
Amounts due from related parties | 93,094,222 | 415,303,690 | 150,531,536 | ||||
Income Tax Refund Due | 98,666,624 | 110,499,471 | 89,231,544 | ||||
Other current assets | 203,572,369 | 47,151,454 | 24,050,166 | ||||
Other financial assets | 29,852,759 | 8,196,019 | 21,948,077 | ||||
Cash and bank balances | 241,001,002 | 177,643,659 | 167,385,315 | ||||
6,478,798,436 | 5,573,303,191 | 5,918,748,731 | |||||
Total Assets | 30,481,529,904 | 26,406,371,760 | 28,363,397,507 | ||||
EQUITY AND LIABILITIES | |||||||
Equity | |||||||
Stated capital | 2,795,513,620 | 2,795,513,620 | 2,795,513,620 | ||||
Revaluation surplus | 4,426,663,199 | 3,825,368,099 | 4,426,663,199 | ||||
Retained earnings | (3,501,972,851) | (1,159,631,216) | (1,808,890,080) | ||||
3,720,203,968 | 5,461,250,504 | 5,413,286,738 | |||||
Non Current Liabilities | |||||||
Interest bearing borrowings | 7,082,806,276 | 6,311,459,290 | 6,874,337,004 | ||||
Deferred tax liabilities | 790,259,155 | 459,092,757 | 351,631,029 | ||||
Other non current liabilities | 739,874,141 | 404,346,468 | 738,829,095 | ||||
Operating lease liability | 1,569,943,391 | 1,192,550,718 | 2,239,626,405 | ||||
Retirement benefit liability | 126,527,896 | 141,534,716 | 126,844,356 | ||||
10,309,410,858 | 8,508,983,949 | 10,331,267,889 | |||||
Current Liabilities | |||||||
Trade payables | 961,946,007 | 598,850,958 | 1,286,988,104 | ||||
Other payables | 3,029,245,858 | 1,013,000,310 | 1,015,974,744 | ||||
Amounts due to related parties | 1,407,058,435 | 1,180,713,141 | 873,239,624 | ||||
Income tax payable | 10,255,834 | 1,170,979 | 2,469,270 | ||||
Interest bearing borrowings | S | 10,604,793,734 S | 9,103,639,319 | S | 8,912,746,079 | ||
Operating lease liability | 438,615,209 | 538,762,600 | 527,425,058 | ||||
16,451,915,079 | 12,436,137,307 | 12,618,842,880 | |||||
Total Equity and Liabilities | 30,481,529,904 | 26,406,371,760 | 28,363,397,507 | ||||
- | - | - | |||||
Net asset per share | 13.67 | 20.07 | 19.89 | ||||
These financial statements are in compliance with the requirements of the Companies Act No 7 of 2007 | |||||||
Sgd. | |||||||
…………………………… | |||||||
Chief Financial Officer | |||||||
The board of directors is responsible for these Financial Statements. | |||||||
Signed for and on behalf of the board by | |||||||
Sgd. | Sgd | ||||||
…………………………… | ……………………………. | ||||||
Chairman | Director | ||||||
Date : 13 February 2023 | |||||||
Colombo |
ODEL PLC | Interim Report | 2022/2023 | Page ~ 4 ~ |
STATEMENT OF CHANGES IN EQUITY
Nine months ended 31st December 2022
Group | Attributable to equity holders of the parent | |||
Revaluation | Stated | Retained | Total | |
Reserve | Capital | Earnings | Equity | |
LKR | LKR | LKR | LKR | |
Balance as at 01 Apr 2021 | 3,825,368,099 | 2,795,513,620 | (451,373,518) | 6,169,508,201 |
Net profit/(loss) for the period | (708,257,698) | (708,257,698) | ||
Other comprehensive income | - | - | - | |
3,825,368,099 | 2,795,513,620 | (1,159,631,216) | 5,461,250,504 | |
Dividends | - | - | ||
Balance as at 31 December 2021 | 3,825,368,099 | 2,795,513,620 | (1,159,631,216) | 5,461,250,504 |
Balance as at 01 Apr 2022 | 4,426,663,199 | 2,795,513,620 | (1,808,890,080) | 5,413,286,738 |
Net profit/(loss) for the period | (1,693,082,771) | (1,693,082,771) | ||
Other comprehensive income | - | - | - | |
4,426,663,199 | 2,795,513,620 | (3,501,972,851) | 3,720,203,968 | |
Dividends | - | - | ||
Balance as at 30 Decemberr 2022 | 4,426,663,199 | 2,795,513,620 | (3,501,972,851) | 3,720,203,968 |
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Odel plc published this content on 13 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 11:17:14 UTC.