C T HOLDINGS PLC
CONDENSED INTERIM FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2022
Contents
Statement of profit or loss and other comprehensive income - Group | 01 |
Statement of profit or loss and other comprehensive income - Company | 02 |
Statement of financial position | 03 |
Statement of changes in equity | 04 |
Statement of cash flows | 05 |
Segment Information | 06 |
Explanatory notes | 08 |
Corporate information | IBC |
01
Statement of Profit or Loss and
Other Comprehensive Income
Group | |||||||
For the three months ended | For the year ended | ||||||
31-Mar | 31-Mar | Var. | 31-Mar | 31-Mar | Var. | ||
In thousands of rupees | 2022 | 2021 | % | 2022 | 2021 | % | |
Revenue | 40,831,717 | 30,151,073 | 35.00 | 136,872,756 | 112,940,971 | 21.00 | |
Cost of sales | (36,071,508) | (26,724,792) | (35.00) | (121,271,134) | (100,326,804) | (21.00) | |
Gross profit | 4,760,209 | 3,426,281 | 39.00 | 15,601,622 | 12,614,167 | 24.00 | |
Other income | 596,208 | 535,739 | 11.00 | 2,192,997 | 2,098,333 | 5.00 | |
Distribution expenses | (1,287,871) | (765,918) | (68.00) | (3,891,166) | (3,038,654) | (28.00) | |
Administrative expenses | (916,315) | (943,540) | 3.00 | (4,453,985) | (3,800,579) | (17.00) | |
Other expenses | (237,633) | (192,515) | (23.00) | (817,179) | (694,165) | (18.00) | |
Results from operating activities | 2,914,598 | 2,060,047 | 41.00 | 8,632,289 | 7,179,102 | 20.00 | |
Finance income | 106,916 | 57,561 | 86.00 | 227,360 | 192,232 | 18.00 | |
Finance expenses | (803,745) | (730,183) | (10.00) | (3,048,135) | (2,811,882) | (8.00) | |
Foreign exchange gain / (loss) | (516,511) | 23,338 | (2,313.00) | (515,901) | 21,216 | (2,532.00) | |
Net finance costs | (1,213,340) | (649,284) | (87.00) | (3,336,676) | (2,598,434) | (28.00) | |
Change in fair value of investment property | 263,160 | 98,478 | 167.00 | 263,160 | 98,478 | 167.00 | |
Share of profit/ (loss) of associates, net of tax | (20,732) | 23,351 | (189.00) | (90,874) | (367,529) | 75.00 | |
Profit / (loss) before taxation | 1,943,686 | 1,532,592 | 27.00 | 5,467,899 | 4,311,617 | 27.00 | |
Tax on profit for the period | (108,623) | 355,781 | (131.00) | (1,005,066) | (763,735) | (32.00) | |
Profit/ (loss) after tax on profit | 1,835,063 | 1,888,373 | (3.00) | 4,462,833 | 3,547,882 | 26.00 | |
Tax effect of dividends paid to equity holders | - | (1,096) | 100.00 | (261,872) | (226,613) | (16.00) | |
Profit / (loss) for the period | 1,835,063 | 1,887,277 | (3.00) | 4,200,961 | 3,321,269 | 26.00 | |
Other comprehensive income - net of tax | |||||||
Items that will not be re-classified subsequently to profit or loss: | |||||||
Net change in fair value of FVOCI financial assets | (24,084) | (158,547) | 85.00 | (82) | 18,037 | (100.00) | |
Revaluation of lands and buildings | - | 2,859,801 | (100.00) | - | 2,859,801 | (100.00) | |
Re-measurement of obligation on defined benefit plan | 167,947 | (84,024) | 300.00 | 167,947 | (84,024) | 300.00 | |
Profit from sale of investments | - | 330,198 | (100.00) | 4,709 | 330,198 | (99.00) | |
Share of other comprehensive income of associates | (16,701) | (20,288) | 18.00 | (69,394) | 22,709 | (406.00) | |
Tax on other comprehensive income | (37,495) | (323,461) | 88.00 | (37,495) | (323,461) | 88.00 | |
Total other comprehensive income - net of tax | 89,667 | 2,603,679 | (97.00) | 65,685 | 2,823,260 | (98.00) | |
Total comprehensive income | 1,924,730 | 4,490,956 | (57.00) | 4,266,646 | 6,144,529 | (31.00) | |
Profit for the period attributable to | |||||||
Owners of the parent | 1,281,598 | 1,307,548 | (2.00) | 2,856,415 | 2,061,487 | 39.00 | |
Non-controlling Interest | 553,465 | 579,729 | (5.00) | 1,344,546 | 1,259,782 | 7.00 |
Profit for the period | 1,835,063 | 1,887,277 | (3.00) | 4,200,961 | 3,321,269 | 26.00 |
Total comprehensive income attributable to | ||||||
Owners of the parent | 1,331,585 | 3,412,329 | (61.00) | 2,877,197 | 4,383,251 | (34.00) |
Non-controlling Interest | 593,145 | 1,078,627 | (45.00) | 1,389,449 | 1,761,278 | (21.00) |
Total comprehensive income | 1,924,730 | 4,490,956 | (57.00) | 4,266,646 | 6,144,529 | (31.00) |
Earnings per share (Rs.) | 6.36 | 6.49 | (2.00) | 14.18 | 10.24 | 38.00 |
Dividends per share (Rs.) | - | - | 4.45 | 4.25 |
Condensed Interim Financial Statements 31 March 2022
C T HOLDINGS PLC
02
Statement of Profit or Loss and
Other Comprehensive Income
Company | |||||||||
For the three months ended | For the year ended | ||||||||
31-Mar | 31-Mar | Var. | 31-Mar | 31-Mar | Var. | ||||
In thousands of rupees | 2022 | 2021 | % | 2022 | 2021 | % | |||
Revenue | - | - | - | - | - | - | |||
Cost of sales | - | - | - | - | - | - | |||
Gross profit | - | - | - | - | - | - | |||
Other income | 16,258 | 78,098 | (79.00) | 1,137,007 | 991,208 | 15.00 | |||
Distribution expenses | - | - | - | - | - | - | |||
Administrative expenses | (45,659) | (31,803) | (44.00) | (122,411) | (101,285) | (21.00) | |||
Other expenses | (51,180) | (139,520) | 63.00 | (51,180) | (139,520) | 63.00 | |||
Results from operating activities | (80,581) | (93,225) | 14.00 | 963,416 | 750,403 | 28.00 | |||
Finance income | 302 | 5,215 | (94.00) | 3,546 | 8,329 | (57.00) | |||
Finance expenses | (17,145) | (44) | (38,866.00) | (44,220) | (760) | (5,718.00) | |||
Net finance costs | (16,843) | 5,171 | (426.00) | (40,674) | 7,569 | (637.00) | |||
Change in fair value of investment property | 2,600 | (8,878) | 129.00 | 2,600 | (8,878) | 129.00 | |||
Profit / (loss) before taxation | (94,824) | (96,932) | 2.00 | 925,342 | 749,094 | 24.00 | |||
Tax on profit for the period | - | - | - | - | - | - | |||
Profit/ (loss) after tax on profit | (94,824) | (96,932) | 2.00 | 925,342 | 749,094 | 24.00 | |||
Tax effect of dividends paid to equity holders | - | (96) | 100.00 | - | (8,846) | 100.00 | |||
Profit / (loss) for the period | (94,824) | (97,028) | 2.00 | 925,342 | 740,248 | 25.00 | |||
Other comprehensive income - net of tax | |||||||||
Items that will not be re-classified subsequently to profit or loss: | |||||||||
Net change in fair value of FVOCI financial assets | (13,274) | (155,630) | 91.00 | (7,393) | 12,344 | (160.00) | |||
Re-measurement of obligation on defined benefit plan | (10) | 1,123 | (101.00) | (10) | 1,123 | (101.00) | |||
Profit from sale of investments | - | 330,198 | (100.00) | 4,709 | 330,198 | 100.00 | |||
Total other comprehensive income - net of tax | (13,284) | 175,691 | (108.00) | (2,694) | 343,665 | (101.00) | |||
Total comprehensive income | (108,108) | 78,663 | (237.00) | 922,648 | 1,083,913 | (15.00) |
Condensed Interim Financial Statements 31 March 2022
C T HOLDINGS PLC
Profit for the period attributable to | ||||||
Owners of the parent | (94,824) | (97,028) | 2.00 | 925,342 | 740,248 | 25.00 |
Non-controlling Interest | - | - | - | - | - | - |
Profit for the period | (94,824) | (97,028) | 2.00 | 925,342 | 740,248 | 25.00 |
Total comprehensive income attributable to | ||||||
Owners of the parent | (108,108) | 78,663 | (237.00) | 922,648 | 1,083,913 | (15.00) |
Non-controlling Interest | - | - | - | - | - | - |
Total comprehensive income | (108,108) | 78,663 | (237.00) | 922,648 | 1,083,913 | (15.00) |
Earnings per share (Rs.) | (0.47) | (0.48) | 2.00 | 4.59 | 3.68 | 25.00 |
Dividends per share (Rs.) | - | - | 4.45 | 4.25 | ||
03
Statement of Financial Position
Group | Company | |||
As at | 31-Mar | 31-Mar | 31-Mar | 31-Mar |
In thousands of rupees | 2022 | 2021 | 2022 | 2021 |
(Audited) | (Audited) | |||
Assets | ||||
Non-current assets | ||||
Property, plant & equipment | 41,767,767 | 37,827,979 | 2,033 | 2,126 |
Right of use assets | 16,889,657 | 14,423,813 | 117 | 137 |
Investment property | 9,579,553 | 9,176,410 | 709,700 | 1,611,865 |
Intangible assets | 1,641,799 | 1,594,962 | 688,467 | 688,467 |
Investments in subsidiaries | - | - | 1,604,677 | 1,942,686 |
Investments in equity accounted investees | 5,655,456 | 5,846,685 | 5,605,948 | 2,906,169 |
Prepayment on leasehold land and building | 200,912 | 200,912 | - | - |
Other financial assets | 1,692,801 | 527,685 | 65,164 | 482,425 |
Deferred tax assets | 8,598 | 10,756 | - | - |
Total non-current assets | 77,436,543 | 69,609,202 | 8,676,106 | 7,633,875 |
Current assets | ||||
Inventories | 14,809,637 | 11,779,617 | - | - |
Trade and other receivables | 7,557,348 | 6,287,913 | 47,586 | 26,758 |
Amounts due from subsidiaries | - | - | 24,849 | 18,314 |
Amounts due from other related parties | 277,213 | 303,831 | 3,408 | 3,408 |
Other financial assets | 1,016,556 | 1,018,661 | - | 63,865 |
Cash and cash equivalents | 3,554,217 | 3,155,193 | 8,943 | 144,766 |
Total current assets | 27,214,971 | 22,545,215 | 84,786 | 257,111 |
Total assets | 104,651,514 | 92,154,417 | 8,760,892 | 7,890,986 |
Equity and liabilities | ||||
Equity attributable to owners of the parent | ||||
Stated capital | 6,489,758 | 6,489,758 | 6,489,758 | 6,489,758 |
Reserves | 3,138,635 | 3,191,265 | 45,747 | 53,140 |
Retained earnings | 14,180,908 | 13,678,172 | 1,159,351 | 1,125,945 |
Total equity attributable to equity holders of the parent | 23,809,301 | 23,359,195 | 7,694,856 | 7,668,843 |
Non-controlling interest | 9,567,160 | 7,954,517 | - | - |
Total equity | 33,376,461 | 31,313,712 | 7,694,856 | 7,668,843 |
Liabilities | ||||
Non-current liabilities | ||||
Interest bearing loans and borrowings | 27,105,134 | 18,369,804 | 800,780 | 189 |
Employee benefits | 1,638,653 | 1,624,204 | 36,893 | 34,596 |
Capital grants | 15,975 | 27,454 | - | - |
Trade and other payables | 181,187 | 169,679 | - | - |
Deferred tax liabilities | 877,637 | 1,068,399 | - | - |
Total non-current liabilities | 29,818,586 | 21,259,540 | 837,673 | 34,785 |
Current liabilities
Trade and other payables | 23,331,542 | 16,315,469 | 16,641 | 11,051 |
Current tax liabilities | 4,198,294 | 3,723,439 | - | - |
Amounts due to subsidiaries | - | - | 18,868 | 7,036 |
Amounts due to other related parties | 2,928 | 4,281 | - | - |
Dividends payable | 167,236 | 169,004 | 167,236 | 169,004 |
Interest bearing loans and borrowings | 13,756,467 | 19,368,972 | 25,618 | 267 |
Total current liabilities | 41,456,467 | 39,581,165 | 228,363 | 187,358 |
Total equity & liabilities | 104,651,514 | 92,154,417 | 8,760,892 | 7,890,986 |
Net Asset Value per Share (Rs.) | 118.21 | 115.98 | 38.21 | 38.08 |
The Board of Directors is responsible for the preparation and presentation | I certify that these Financial Statements have been |
prepared in accordance with the requirements of | |
of these Financial Statements. The Financial Statements have been | |
the Companies Act No 7 of 2007. | |
approved by the Board of Directors on 31st May 2022 | |
(Signed.) | (Signed.) | (Signed.) |
V R Page | A T P Edirisinghe | S C Niles |
Deputy Chairman / Managing Director | Director | Executive Director |
C T HOLDINGS PLC | Condensed Interim Financial Statements 31 March 2022 |
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C T Holdings plc published this content on 31 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 May 2022 10:59:06 UTC.