Printcare : Quarterly Financial Statements 31.12.2022

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

Steven Mark Enderby

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

People's Bank

Nations Trust Bank PLC

Bank of Ceylon

Hatton National Bank PLC

Union Bank of Colombo PLC

Seylan Bank PLC

DFCC Bank PLC

Printcare PLC

		Consolidated Income Statement
Group		Nine Months	Nine Months		Quarter	Quarter		Year
	Note	ended	ended	Variance	ended	ended	Variance	ended
		31.12.2022	31.12.2021		31.12.2022	31.12.2021		31.03.2022
		Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs. '000
Revenue		10,250,606	5,527,995	4,722,611	3,485,633	2,190,530	1,295,104	7,626,233
Cost of Sales		(7,164,516)	(4,148,326)	(3,016,190)	(2,612,362)	(1,601,934)	(1,010,428)	(5,767,247)
Gross Profit
	3,086,090	1,379,669	1,706,421	873,271	588,596	284,676	1,858,986
		30.1%	25.0%		25.1%	26.9%	22.0%	24.4%
Other Operating Income		71,282	53,007	18,275	27,004	18,670	8,334	59,470
Distribution Costs		(296,672)	(160,735)	(135,936)	(105,226)	(58,902)	(46,325)	(205,433)
Administrative Expenses	11	(267,101)	(659,643)	392,541	(251,315)	(240,155)	(11,160)	(194,661)
Results from Operating Activities
	2,593,599	612,298	1,981,301	543,734	308,209	235,525	1,518,362
Finance Income		33,923	14,470	19,454	8,233	7,458	775	25,900
Finance Costs		(634,294)	(184,315)	(449,978)	(287,173)	(77,742)	(209,431)	(260,848)
Gain on Disposal of Associate		-	997,078	(997,078)	-	997,078	(997,078)	989,965
Share of Associate Profit / (Loss)	14	-	61,310	(61,310)	-	14,169	(14,169)	62,786
Profit/ (Loss) Before Tax
	1,993,229	1,500,840	492,389	264,793	1,249,171	(984,378)	2,336,166
Income Tax (Expense)/Reversal		(470,321)	(176,958)	(293,364)	(224,878)	(117,548)	(107,330)	(71,210)
Profit/ (Loss) for the Period
	1,522,907	1,323,883	199,025	39,916	1,131,623	(1,091,707)	2,264,956

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

Minority Interests

1,489,242	1,327,766	161,477	24,249	1,129,454	(1,105,206)	2,236,812
33,665	(3,883)	37,548	15,667	2,168	13,499	28,144
1,522,907	1,323,883	199,025	39,916	1,131,623	(1,091,707)	2,264,956

Earnings Per Share - Basic	10	17.32	15.45	0.28	13.14	26.02
Dividends Per Share		4.00	1.00	-	-	5.00
The above figures are provisional and subject to audit.

Printcare PLC

Consolidated Statement of Comprehensive Income
Group
	Nine Months	Nine Months	Quarter	Quarter	Year
Note	ended	ended	ended	ended	Ended
	31.12.2022	31.12.2021	31.12.2022	31.12.2021	31.03.2022
	Rs.'000	Rs.'000	Rs.'000	Rs.'000	Rs. '000
Profit/ (Loss) for the Period	1,522,907	1,323,883	39,916	1,131,623	2,264,956
Other Comprehensive Income
Gains on Fair Value through Other Comprehensive Income Investments	473	110	(281)	57	(989)
Currency Translation of Foreign Operations	6,733	(760)	1,274	(556)	17,035
Actuarial Gains/(Losses)	-	-	-	-	(1,540)
Deferred Tax Effect on actuarial gain	-	-	-	-	252
Other Comprehensive Income for the Year Net of Tax
1,530,113	1,323,234	40,909	1,131,123	2,279,713
Total Comprehensive Income Attributable to:
Equity Holders of the Parent	1,496,448	1,327,117	25,243	1,128,955	2,251,910
Minority Interests	33,665	(3,883)	15,667	2,168	27,803
	1,530,113	1,323,234	40,909	1,131,123	2,279,713
The above figures are provisional and subject to audit.

Printcare PLC

Statement Of Financial Position

As at 31 December 2022

Group

	Note	31.12.2022	31.03.2022
ASSETS		Rs.'000	Rs.'000
Non-Current Assets
Property, Plant and Equipment		3,618,291	3,764,777
Intangible Assets		67,968	66,838
Right of use Asset		78,456	93,727
Fair value through Other Comprehensive Income Investments		2,537	2,065
Deferred Tax Assets		162,656	46,521
		3,929,907	3,973,927
Current Assets
Inventories		5,117,028	2,603,912
Trade and Other Receivables		3,273,650	2,700,356
Prepayments		99,452	49,172
Income Tax Recoverable		1,201	1,224
Other Taxes Recoverable		219,524	192,221
Other Short Term Investments		183,004	503,466
Cash and Bank Balances		1,571,861	1,565,456
		10,465,720	7,615,807
Total Assets		14,395,628	11,589,734
EQUITY AND LIABILITIES
Equity
Stated Capital	12	271,893	271,893
Reserves		1,019,602	1,012,870
Retained Earnings		4,700,004	3,554,628
Fair value through Other Comprehensive Income Reserves		1,481	1,009
		5,992,981	4,840,400
Non Controlling Interests		247,858	214,193
Total Equity		6,240,839	5,054,593
Non-Current Liabilities
Interest Bearing Loans and Borrowings		1,645,473	1,923,712
Leased Liability		53,566	68,353
Deferred Tax Liabilities		450,863	211,206
Employee Benefit Liability		244,526	228,766
		2,394,428	2,432,036
Current Liabilities
Trade and Other Payables		1,500,257	1,429,743
Income Tax Payable		392,708	100,132
Other Taxes Payable		77,860	62,872
Interest Bearing Loans and Borrowings		3,770,047	2,492,195
Leased Liability		19,489	18,163
		5,760,361	4,103,105
Total Equity and Liabilities		14,395,628	11,589,734
Net Asset Value Per Share (Rs.)		69.71	56.31
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

10-Feb-23