Vidullanka : Quarterly Financial Statement as at 30/06/2022

(PQ 83)

INTERIM FINANCIAL STATEMENTS

FOR THE QUARTER ENDED 30th JUNE 2022.

Registered office: Level 04, Access Towers, No. 278, Union Place,

Colombo 2, Sri Lanka.

Tel: [phone] , / Fax: [phone]

www.vidullanka.com

				Vidullanka PLC
STATEMENT OF FINANCIAL POSITION
	Group	Company
As at	30.06.2022	31.03.2022	30.06.2022	31.03.2022
	(Unaudited*)	(Unaudited*)	(Unaudited*)	(Unaudited*)
	Rs.	Rs.	Rs.	Rs.
ASSETS
Non-Current Assets
Property , Plant & Equipment	8,543,250,135	7,540,452,121	637,216,867	632,600,803
Mature bearer biological assets	46,671,847	46,592,900	-	-
Right of Use asset	211,794,583	175,707,358	23,637,218	14,043,021
Investments in Subsidiaries	-	-	1,328,896,131	1,328,896,131
Investments in Joint Ventures & Associates	617,031,535	623,385,180	414,291,550	414,291,550
Other Project Investments	68,411,434	66,565,678	68,411,434	66,565,678
Goodwill	216,337,008	229,207,730	12,000,000	12,000,000
Deferred Tax Asset	1,378,208	1,378,208	-	-
	9,704,874,750	8,683,289,175	2,484,453,200	2,468,397,183
Current Assets
Inventories	149,079,852	123,802,571	27,751,134	21,604,537
Trade and Other Receivables	2,224,150,591	1,650,684,162	911,291,707	733,386,992
Other Financial Assets	275,350,646	160,340,030	41,105,925	41,427,730
Cash and Bank Balances	822,819,320	849,460,536	6,138,301	37,260,783
	3,471,400,409	2,784,287,299	986,287,067	833,680,042
Total Assets	13,176,275,159	11,467,576,474	3,470,740,267	3,302,077,225
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	1,794,669,350	1,786,069,350	1,794,669,350	1,786,069,350
Retaining Earnings	2,526,803,250	2,412,474,194	68,224,631	82,760,234
Other components of equity	2,175,822,955	1,453,327,291	-	-
Equity attributable to Equity Holders of the Parent	6,497,295,555	5,651,870,835	1,862,893,981	1,868,829,584
Non Controlling Interest	161,508,406	133,464,681	-	-
Total Equity	6,658,803,961	5,785,335,516	1,862,893,981	1,868,829,584
Non- Current Liabilities
Loans and Borrowings	3,274,770,405	3,131,161,366	543,932,428	533,832,873
Defined Benefit Liability	46,414,174	44,169,534	41,998,241	42,426,155
Deferred Tax Liability	819,719,161	649,659,510	21,269,364	21,018,879
Lease Liability	77,737,434	69,753,196	17,671,622	6,551,931
	4,218,641,174	3,894,743,606	624,871,654	603,829,838
Current Liabilities
Loans and Borrowings	1,601,336,852	1,246,655,142	734,931,763	601,586,938
Lease Liability	16,233,450	7,594,247	2,275,736	3,290,202
Trade and Other Payables	453,805,250	388,281,649	215,976,867	190,322,531
Income Tax Liability	227,454,472	144,966,314	29,790,266	34,218,132
	2,298,830,024	1,787,497,352	982,974,632	829,417,803
Total Equity and Liabilities	13,176,275,159	11,467,576,474	3,470,740,267	3,302,077,225
Net Assets Represented by :
No of Issued Shares-Voting	864,124,198	862,124,198	864,124,198	862,124,198
No of Issued Shares-Non Voting	72,394,086	72,394,086	72,394,086	72,394,086
Total No of Shares	936,518,284	934,518,284	936,518,284	934,518,284
Net Asset Value Per Share (Rs)	6.94	6.05	1.99	2.00
* The amounts are provisional and subject to audit

These Financial Statements are in compliance with the requirement of the Companies Act No. 07 of 2007

(Signed)

………………………………………

Mafaz Ansar

Group Finance Controller

The Board of Directors is responsible for the Preparation and presentation of these financial statements.

(Signed)	(Signed)
………………………………………	………………………………………
Riyaz M.Sangani	Rizvi Zaheed
CEO	Director
10th August 2022

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					Vidullanka PLC
STATEMENT OF COMPREHENSIVE INCOME
		Group			Company
	Quarter Ended 30th June		Quarter Ended 30th June
	2022	2021	Variance	2022	2021	Variance
	(Unaudited*)	(Unaudited*)	(Unaudited*)	(Unaudited*)
	%	%
	Rs.	Rs.	Rs.	Rs.
Revenue	775,233,281	606,816,953	28	78,543,691	116,622,209	(33)
Cost of Sales	(183,292,143)	(150,407,695)	(22)	(19,056,230)	(12,190,929)	(56)
Gross Profit	591,941,138	456,409,258	30	59,487,461	104,431,280	(43)
Other Income and Gain/(Losses)	(11,570,149)	22,897,306	(151)	125,598,303	87,170,037	44
Administrative Expenses	(106,024,286)	(104,826,717)	(1)	(65,369,840)	(63,167,316)	(3)
Finance Cost	(111,926,480)	(75,276,756)	(49)	(38,047,049)	(31,984,497)	(19)
Finance Income	225,424	336,121	(33)	208,462	331,846	37
Investment Share in the Joint Ventures & Associate	(6,347,117)	26,496,496	(124)	-	-	-
Profit Before Tax	356,298,530	326,035,707	9	81,877,337	96,781,350	(15)
Income Tax Expense	(138,149,754)	(82,855,745)	(67)	(563,820)	-	-
Profit for the period	218,148,776	243,179,962	(10)	81,313,517	96,781,350	(16)
Other Comprehensive Income (OCI)
Net Actuarial Gain/(Loss) on Defined Benefit Plan	(1,468,448)	(54,419)	>999	(1,455,633)	(75,016)	>999
		-
Income Tax on Other Comprehensive Income	409,348	19,468	>999	407,577	21,005	>999
Net Actuarial Gain/(Loss) on Defined Benefit Plan of Investment	(6,527)	4,507	(245)	-	-	-
share
Exchange Differences on Translation of Foreign Operations	748,471,931	19,485,713	>999	-	-	-
Other Comprehensive Income for the Year, Net of Tax	747,406,304	19,455,269	>999	(1,048,056)	(54,012)	>999
Total Comprehensive Income for the Year, Net of Tax	965,555,080	262,635,231	268	80,265,461	96,727,338	-17
Profit attributable to :
Equity Holders of the Parent	210,195,747	240,025,456	(12)	81,313,517	96,781,350	(16)
Non-Controlling Interest	7,953,029	3,154,506	152	-	-	-
Total Profit for the period	218,148,776	243,179,962	(10)	81,313,517	96,781,350	(16)
Total Comprehensive Income attributable to :
Equity Holders of the Parent	931,625,785	258,746,462	260	80,265,461	96,727,338	(17)
Non-Controlling Interest	33,929,295	3,888,769	772	-	-	-
Total Comprehensive Income for the Year	965,555,080	262,635,231	268	80,265,461	96,727,338	(17)
Earnings Per Share	0.23	0.26		0.09	0.11
Weighted Average No of Shares	929,611,639	917,136,645		929,611,639	917,136,645

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STATEMENT OF CHANGES IN EQUITY

Vidullanka PLC

			Foreign
	Stated Capital	Retained	Currency	Non-Controlling	Total
	Earnings	Translation	Interest
GROUP
		Reserve
	Rs	Rs	Rs	Rs	Rs
Balance as at 1st April 2021	1,469,839,867	1,830,090,914	273,581,811	71,412,994	3,644,925,586
Profit for the Period	-	240,025,456	-	3,154,506	243,179,962
Other Comprehensive Income	-	(30,444)	18,751,450	734,263	19,455,269
Total Comprehensive Income for the Year	-	239,995,012	18,751,450	3,888,769	262,635,231
Dividend Paid	-	(106,057,336)	-	-	(106,057,336)
Subscription of Non Voting Shares	253,379,301	-	-	-	253,379,301
Balance as at 30th June 2021	1,723,219,168	1,964,028,590	292,333,261	75,301,763	4,054,882,782
Balance as at 1st April 2022	1,786,069,350	2,412,474,194	1,453,327,291	133,464,681	5,785,335,516
Profit for the period	-	210,195,747	-	7,953,029	218,148,776
Other Comprehensive Income	-	(1,065,627)	722,495,664	25,976,266	747,406,304
Total Comprehensive Income for the Year	-	209,130,120	722,495,664	33,929,295	965,555,080
Dividend Paid	-	(94,801,064)	-	(5,885,570)	(100,686,634)
Subscription of ESOS	8,600,000	-	-	-	8,600,000
Balance as at 30th June 2022	1,794,669,350	2,526,803,250	2,175,822,955	161,508,406	6,658,803,962

	Stated Capital	Retained	Total
COMPANY	Earnings
	Rs	Rs	Rs
Balance as at 1st April 2021	1,469,839,867	37,598,029	1,507,437,896
Profit for the Period	-	96,781,350	96,781,350
Other Comprehensive Income	-	(54,012)	(54,012)
Total Comprehensive Income for the Year	-	96,727,338	96,727,338
Dividend Paid	-	(106,057,336)	(106,057,336)
Subscription of Non Voting Shares	253,379,301		253,379,301
Balance as at 30th June 2021	1,723,219,168	28,268,031	1,751,487,199
Balance as at 1st April 2022	1,786,069,350	82,760,234	1,868,829,584
Profit for the period	-	81,313,517	81,313,517
Other Comprehensive Income	-	(1,048,056)	(1,048,056)
Total Comprehensive Income for the Year	-	80,265,461	80,265,461
Dividend Paid	-	(94,801,064)	(94,801,064)
Subscription of ESOS	8,600,000	-	8,600,000
Balance as at 30th June 2022	1,794,669,350	68,224,631	1,862,893,981

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STATEMENT OF CASH FLOWS			Vidullanka PLC
	Group	Company
As at	30.06.2022	30.06.2021	30.06.2022	30.06.2021
	(Unaudited*)	(Unaudited*)	(Unaudited*)	(Unaudited*)
	Rs.	Rs.	Rs.	Rs.
Cash Flows From/(Used in ) Operating Activities
Profit from Ordinary Activities Before Tax	356,298,530	326,035,707	81,877,337	96,781,350
Adjustments for
Depreciation Property, Plant and Equipment	82,245,522	54,526,797	7,851,949	5,634,366
Depreciation Biological Assets	2,954,623	2,479,520	-	-
Amortization of Right to Use Assets	4,104,208	4,102,095	1,279,638	1,461,691
Expenses on Defined Benefit Plan	(272,339)	1,781,377	13,230	1,263,698
Dividend Income		-	(124,355,000)	(65,400,000)
Provision for Impairment / Written Off	7,500,000	7,500,000	7,500,000	7,500,000
Impairment / Written -Off - Biological asset	344,380	344,380	-
Net (Gain) / Loss on Translation of Foreign Currency	158,760,043	2,816,687		-
Share of Profits from Joint Ventures	6,347,117	(26,496,496)	-	-
Finance Income	(228,535)	(550,174)	(208,462)	(331,846)
Finance Cost	111,926,480	75,276,756	38,047,049	31,984,497
Amortization of Goodwill	12,870,723	12,870,723	-	-
Operating Profit/(Loss) Before Working Capital Changes	742,850,751	460,687,372	12,005,740	78,893,756
(Increase)/Decrease in Inventories	(7,319,297)	(6,588,869)	(6,146,597)	(569,547)
(Increase)/Decrease in Trade & Other Receivables	(610,904,141)	(182,780,753)	(177,904,715)	6,075,242
Increase/(Decrease) in Trade & Other Payables	247,268,820	47,979,812	25,654,336	(27,624,066)
Cash Generated from Operations	371,896,132	319,297,562	(146,391,236)	56,775,384
Finance Cost Paid	(110,624,111)	(65,917,243)	(38,047,049)	(14,299,652)
Defined Benefit Plan Costs Paid	(1,489,200)	(1,849,600)	(1,489,200)	(1,849,600)
Income Tax Paid	(25,605,688)	(9,000,000)	(4,833,244)	-
Net Cash From Operating Activities	234,177,134	242,530,719	(190,760,729)	40,626,132
Net Cash From (Used In ) Investing Activities
Acquisition of Property, Plant and Equipment	(16,714,733)	(22,968,334)	(12,375,974)	(508,340)
Investment in Biological Assets	(94,180)	-	-	-
Acquisition of Right to Use Asset	(10,873,835)	-	(10,873,835)	-
Proceeds from sale of Property, Plant and Equipment	-	-	-	-
Investment in New Projects	(9,345,756)	4,781,438	(9,345,756)	4,781,438
Net Investment on Other Financial Assets	(87,337,909)	(73,839,171)	321,805	(73,839,171)
Finance Income Received	225,663	545,899	208,462	331,846
Dividend Received	-	15,300,000	124,355,000	65,400,000
Net Cash Flow Used in Investing Activities	(124,140,749)	(76,180,168)	92,289,703	(3,834,228)
Cash From (Used in ) Financing Activities
Proceeds from Right Issue	-	253,379,301	-	253,379,301
Proceeds from ESOS	8,600,000	-	8,600,000	-
Dividend Payments	(100,686,634)	(106,057,336)	(94,801,064)	(106,057,336)
Principal Payment under Ijara-Leases (Motor Vehicle)	(1,153,434)	(1,307,822)	(790,434)	(963,869)
Principal Payment under SLFRS 16 - Non- Motor	(3,376,584)	(3,214,390)	(551,585)	(486,388)
Principal Payment under Diminishing Musharakah Facilities	(215,365,274)	(126,567,375)	(10,412,700)	(4,166,700)
Principal Payment Short Term Facilities	(41,389,338)	(285,000,000)	(41,389,338)	(285,000,000)
Proceeds from Wakala Facilities	10,000,000	-	-	-
Proceeds from SLFRS 16 - Non- Motor	11,447,238	-	11,447,238	-
Proceeds from Diminishing Musharakah Facilities	14,984,562	-	14,984,562	-
Proceeds from Short Term Facilities	180,261,863	279,767	180,261,863	279,767
Net Cash From (Used In ) Financing Activities	(136,677,600)	(268,487,856)	67,348,542	(143,015,226)
Net Increase/(Decrease) in Cash & Cash Equivalents	(26,641,216)	(102,137,305)	(31,122,482)	(106,223,321)
Cash & Cash Equivalents at the beginning of period	849,460,536	423,098,790	37,260,783	116,028,674
Cash & Cash Equivalents at end of period	822,819,320	320,961,485	6,138,301	9,805,353
Movement in cash and cash equivalents
Components of Cash and Cash Equivalents	362,500	362,500	225,000	225,000
Cash and Bank Balances	822,456,820	320,598,985	5,913,301	9,580,353
At the end of the period	822,819,320	320,961,485	6,138,301	9,805,353

* The amounts are provisional and subject to audit

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