Printcare : Quarterly Finance Report 31.03.2022

PRINTCARE PLC

INTERIM CONDENSED FINANCIAL STATEMENTS

YEAR ENDED 31st MARCH 2022

Corporate Information

Printcare PLC was incorporated as a Private Limited Liability Company on 3rd September 1979

Under the Companies' Ordinance NO. 51 of 1938.

It was converted to a Public Limited Liability Company on 21st October 1994.

Company Registration No : PQ 75

Tax payer Identification No : 104059317

BOARD OF DIRECTORS

Merrill J Fernando

Abbas Esufally

K R Ravindran

Ejaz Chatoor

Dayasiri Warnakulasooriya

Ms. Anushya Coomaraswamy

Vajira Kulatilaka

Krishna Ravindran (Appointed w.e.f 30.09.2021)

Steven Mark Enderby(Appointed w.e.f 30.09.2021)

REGISTERED OFFICE

77, Nungamugoda Road, Kelaniya.

STOCK EXCHANGE LISTING

Colombo Stock Exchange

AUDITORS

Messrs. Ernst & Young

Chartered Accountants

201, De Saram Place, Colombo 10.

LAWYERS

D.L. & F De Saram

Attorneys-at-Law and Notaries Public

47,Alexandra Place, Colombo 07.

SECRETARIES

Managers & Secretaries (Pvt) Limited

8, Tickell Road, Colombo 08.

BANKERS

National Development Bank PLC

Commercial Bank of Ceylon PLC

Standard Chartered Bank

Nations Trust Bank PLC

Bank of Ceylon

Hatton National Bank PLC

Union Bank of Colombo PLC

Seylan Bank PLC

DFCC Bank PLC

MCB Bank Limited

Printcare PLC

		Consolidated Income Statement
Group		Year	Year		Quarter	Quarter
	Note	ended	ended	Variance	ended	ended	Variance
		31.03.2022	31.03.2021		31.03.2022	31.03.2021
		Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Revenue		7,626,434	6,019,906	1,606,528	2,098,439	1,673,536	424,904
Cost of Sales		(5,771,949)	(4,617,266)	(1,154,682)	(1,623,623)	(1,277,183)	(346,440)
Gross Profit
	1,854,485	1,402,639	451,846	474,816	396,353	78,463
		24.3%	23.3%		22.6%	23.7%	18.5%
Other Operating Income		59,947	59,278	669	6,940	25,862	(18,923)
Finance Income	14	1,015,846	1,563	1,014,283	4,298	352	3,946
Distribution Costs		(206,390)	(182,280)	(24,109)	(45,654)	(40,985)	(4,670)
Administrative Expenses	11	(189,469)	(673,905)	484,436	470,174	(237,778)	707,952
Finance Costs		(260,848)	(151,211)	(109,637)	(76,532)	(37,426)	(39,106)
Share of Associate Profit / (Loss)		62,786	63,224	(437)	1,476	11,943	(10,467)
Profit/ (Loss) Before Tax
	2,336,357	519,307	1,817,050	835,517	118,321	717,196
Income Tax (Expense)/Reversal		(81,581)	79,578	(161,159)	95,376	191,844	(96,468)
Profit/ (Loss) for the Period
	2,254,776	598,885	1,655,891	930,893	310,165	620,728

Profit/ (Loss) Attributable to: Equity Holders of the Parent

Minority Interests

2,226,698	574,956	1,651,742	898,932	289,672	609,260
28,078	23,929	4,149	31,961	20,493	11,468
2,254,776	598,885	1,655,891	930,893	310,165	620,728

Earnings Per Share - Basic	10	25.90	6.69	10.46	3.37
Dividends Per Share		5.00	1.00	4.00	1.00

The above figures are provisional and subject to audit.

Printcare PLC

Consolidated Statement of Comprehensive Income
Group
	Year	Year	Quarter	Quarter
Note	ended	ended	ended	ended
	31.03.2022	31.03.2021	31.03.2022	31.03.2021
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Profit/ (Loss) for the Period	2,254,776	598,885	930,893	310,165
Other Comprehensive Income
Gains on Fair Value through Other Comprehensive Income Investments	(989)	1,130	(1,100)	(806)
Gains on Sale of Fair Value through Other Comprehensive Income Investments	-	68	-	68
Currency Translation of Foreign Operations	16,665	2,250	17,425	2,717
Actuarial Gains/(Losses)	(1,540)	(13,692)	(1,540)	(13,692)
Deferred Tax Effect on actuarial gain	252	2,100	252	2,100
Other Comprehensive Income for the Year Net of Tax
2,269,164	590,741	945,930	300,552
Total Comprehensive Income Attributable to:
Equity Holders of the Parent	2,241,426	567,258	914,309	280,505
Minority Interests	27,738	23,483	31,621	20,046
	2,269,164	590,741	945,930	300,552
The above figures are provisional and subject to audit.

Printcare PLC

Statement Of Financial Position

As at 31 March 2022

Group

	Note	31.03.2022	31.03.2021
ASSETS		Rs.'000	Rs.'000
Non-Current Assets
Property, Plant and Equipment		3,764,777	3,268,535
Intangible Assets		66,838	68,306
Right of use Asset		93,727	114,507
Investment in Associate			131,903
Fair value through Other Comprehensive Income Investments		2,065	3,054
Deferred Tax Assets		46,194	58,624
		3,973,600	3,644,929
Current Assets
Inventories		2,603,912	1,661,034
Trade and Other Receivables		2,523,793	1,857,063
Prepayments		41,931	27,480
Other Taxes Recoverable		207,982	116,490
Other Short Term Investments		532,853	-
Cash and Bank Balances		1,536,069	241,506
		7,446,540	3,903,573
Total Assets		11,420,140	7,548,502
EQUITY AND LIABILITIES
Equity
Stated Capital	12	271,893	271,893
Reserves		1,012,500	995,637
Retained Earnings		3,544,514	1,752,653
Fair value through Other Comprehensive Income Reserves		1,009	1,998
		4,829,916	3,022,181
Non Controlling Interests		214,137	190,112
Total Equity		5,044,052	3,212,293
Non-Current Liabilities
Interest Bearing Loans and Borrowings		1,923,712	1,294,327
Leased Liability		68,353	86,515
Deferred Tax Liabilities		219,905	236,859
Employee Benefit Liability		228,766	215,185
		2,440,736	1,832,886
Current Liabilities
Trade and Other Payables		1,261,487	1,068,736
Income Tax Payable		102,288	19,336
Other Taxes Payable		61,218	58,617
Interest Bearing Loans and Borrowings		2,492,195	1,340,679
Leased Liability		18,163	15,954
		3,935,350	2,503,323
Total Equity and Liabilities		11,420,140	7,548,502
Net Asset Value Per Share (Rs.)		56.18	35.16
The above figures are provisional and subject to audit.
These Financial Statements are in compliance with the Companies Act No. 07 of 2007.
…………...…………………….…
R. Kishore Ignatius
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these
Financial Statements. Signed for and on behalf of the Board by,
…………...………………………….		…………...………………………….
K.R.Ravindran		A. Coomaraswamy
Director		Director
Printcare PLC		Printcare PLC

30 May 2022