Serendib Engineering : Interim Financial Statement period ended 30th September 2022

SERENDIB ENGINEERING GROUP PLC

PQ 230

INTERIM FINANCIAL STATEMENTS

FOR THE QUARTER ENDED 30TH SEPTEMBER 2022

SERENDIB ENGINEERING GROUP PLC

Serendib Engineering Group PLC l Interim Financial Statements

Table of Contents
1. Corporate Information………………………………………………………………………………………………………… 1
2. Group Financials .......................................................................................................................	2
2.1 Statement of Comprehensive Income - Group ...........................................................	2
2.2	Statement of Financial Position - Group .....................................................................	3
2.3 Cash Flow Statement - Group .....................................................................................	5
2.4 Statement of Changes in Equity - Group ....................................................................	7
3. Company Financials ..................................................................................................................	8
3.1 Statement of Comprehensive Income - Company......................................................	8
3.2	Statement of Financial Position- Company .................................................................	9
3.3 Cash Flow Statement - Company ................................................................................	11
3.4 Statement of Changes in Equity - Company................................................................	12
4. Notes to the Financial Statements…......................................................................................... 13
5. Shareholder Information ..........................................................................................................	14
5.1	Major Shareholders Details..........................................................................................	14
5.2	Public Shareholdings ....................................................................................................	14
5.3	CEO's and Directors Shareholdings .............................................................................	15
5.4	Share price Information...............................................................................................	15

Serendib Engineering Group PLC l Interim Financial Statements

1. Corporate Information

NAME OF THE COMPANY	Serendib Engineering Group PLC
	A Public Company with Limited Liability incorporated on 7th September 1992,
LEGAL FORM	and re-registered under the Companies Act 07 of 2007. Listed on the Diri Savi
	Board of the Colombo Stock Exchange.
REGISTRATION NUMBER	PQ 230
REGISTERED OFFICE	No.20,Cotta Road
Colombo 8
ACCOUNTING YEAR END	31st March
	Mr.N.D.Rathnayaka-Independent Non Executive Director
	Mr.G.T.Jayaseelan-Non Executive Director
	Mr.Vaitheswarn Rajarajan-Independent Non Executive Director
	Mr.Kathirgamar Sivaskantharajah-Independent Non Executive Director
	Serendib Investment Holdings Limited
SUBSIDIARIES	Serendib Engineering & Agencies (Pvt) Limited
	CCC Plantation Engineering Limited
	S S P Corporate Secretarial (Pvt) Limited
SECRATARIES	No.101, Inner Flower Road,
	Colombo 03
	V. S. & Associates
AUDITORS	Chartered Accountants
20/62, Fairfield Gardens
	Colombo- 08
	Sampath Bank PLC
	National Development Bank PLC
BANKERS	Pan Asia Banking Corporation PLC
	Bank Of Ceylon
	Seylan Bank PLC

Serendib Engineering Group PLC l Interim Financial Statements1 I page

2. Group Financials

2.1 Statement of Comprehensive Income - Group

SERENDIB ENGINEERING GROUP PLC

STATEMENT OF COMPREHENSIVE INCOME

	Quarter ended	Six Months Ended	Year ended
GROUP	30th September	30th September	31st March
	2022	2021	2022	2021	2022
	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	Rs.	Rs.	Rs.	Rs.	Rs.
Revenue	14,050,545	15,770,843	55,391,044	28,473,392	56,675,964
Cost of sales	(12,414,885)	(14,529,683)	(41,732,384)	(24,671,262)	(48,489,034)
Gross profit	1,635,660	1,241,160	13,658,660	3,802,129	8,186,930
Other income	-	-	-	80,353	86,396
Administration expenses	(11,960,172)	(15,651,380)	(24,723,557)	(31,243,707)	(61,781,635)
Other Expenses	-	-	-	-	(125,755)
Profit from operating activities	(10,324,513)	(14,410,221)	(11,064,898)	(27,361,225)	(53,634,064)
Finance income	192,437	75,838	480,878	130,541	312,795
Finance expenses	(13,730,088)	(2,271,445)	(17,185,776)	(5,167,517)	(23,575,514)
Profit/(Loss) from ordinary activities before taxation
(23,862,165)	(16,605,828)	(27,769,795)	(32,398,201)	(76,896,783)
Taxation	-	-	-	-	(316,997)
Profit/(Loss) for the period	(23,862,165)	(16,605,828)	(27,769,795)	(32,398,201)	(77,213,780)
Total comprehensive income/Expense	(23,862,165)	(16,605,828)	(27,769,795)	(32,398,201)	(77,213,780)
Other Comprehensive Income/(Expense)
Acturial Gain/Loss on Employee Benefit Obligation	-	-	-	-	798,508
Total Other Comprehensive Income/(expense) for the period	-	-	-	-	798,508
Total Comprehensive Income/(Expense) for the period	(23,862,165)	(16,605,828)	(27,769,795)	(32,398,201)	(76,415,272)
Profit/(Loss) Attributable to
Equity holders of the parent company	(22,470,171)	(15,737,753)	(26,149,526)	(30,639,032)	(72,774,334)
Non-controlling interest	(1,391,993)	(868,074)	(1,620,269)	(1,759,169)	(4,439,446)
	(23,862,165)	(16,605,828)	(27,769,795)	(32,398,201)	(77,213,780)
Total Comprehensive Income/(expense) attributable to
Equity holders of the parent company	(22,470,171)	(15,737,753)	(26,149,526)	(30,639,032)	(72,021,900)
Non controlling Interest	(1,391,993)	(868,074)	(1,620,269)	(1,759,169)	(4,393,372)
Total comprehensive income/(expense) for the period	(23,862,165)	(16,605,828)	(27,769,795)	(32,398,201)	(76,415,272)
Basic Earnings per share (Rs)	(0.69)	(0.49)	(0.81)	(0.95)	(2.25)

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