DISTILLERIES COMPANY OF SRI LANKA PLC
INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED
31st December 2022
DISTILLERIES COMPANY OF SRI LANKA PLC
STATEMENTS OF COMPREHENSIVE INCOME
For the period ended 31st December | 2022 | 2021 | Variance |
Rs.'000s | Rs.'000s | % | |
Unaudited | Unaudited | ||
Gross Revenue | 92,675,321 | 73,451,879 | 26.2% |
Net Revenue | 42,860,428 | 23,402,820 | 83.1% |
Cost of Sales | (18,331,551) | (12,245,308) | 49.7% |
Gross Profit | 24,528,877 | 11,157,512 | 119.8% |
Other Operating Income | 68,802 | 78,942 | -12.8% |
Distribution Expenses | (784,019) | (514,262) | 52.5% |
Administrative Expenses | (1,439,445) | (904,386) | 59.2% |
Profit from Operations | 22,374,214 | 9,817,806 | 127.9% |
Finance Income | 1,107,931 | 210,754 | 425.7% |
Finance Cost | (162,701) | (172,957) | -5.9% |
Net Finance Income/(Expense) | 945,230 | 37,797 | 2400.8% |
Profit before Tax from continued operations | 23,319,445 | 9,855,603 | 136.6% |
Taxation | (9,388,989) | (4,020,221) | 133.5% |
Profit for the period | 13,930,455 | 5,835,382 | 138.7% |
Items that are or may be reclassified to Profit or Loss | |||
Net Change in fair Value of Available for Sale Financial | |||
Assets | (373,347) | 156,880 | |
(373,347) | 156,880 | ||
Total Other Comprehensive Income/(Expense) for the | (373,347) | 156,880 | |
Period | -338.0% | ||
Total Comprehensive Income/(Expense) for the Period | 13,557,108 | 5,992,262 | |
Earnings Per Share (Rs.) | |||
Basic Earnings per Share | 3.03 | 1.27 | 138.7% |
DISTILLERIES COMPANY OF SRI LANKA PLC
INCOME STATEMENTS
For the Quarter ended 31st December 2022 | 2022 | 2021 | Variance |
Rs.'000s | Rs.'000s | % | |
Unaudited | Unaudited | ||
Gross Revenue | 30,241,107 | 30,950,371 | -2.3% |
Net Revenue | 14,786,195 | 8,707,070 | 69.8% |
Cost of Sales | (5,317,785) | (4,916,359) | 8.2% |
Gross Profit | 9,468,410 | 3,790,711 | 149.8% |
Other Operating Income | 25,583 | 35,957 | -28.9% |
Distribution Expenses | (313,521) | (208,643) | 50.3% |
Administrative Expenses | (563,126) | (360,564) | 56.2% |
Profit from Operations | 8,617,345 | 3,257,462 | 164.5% |
Finance Income | 519,604 | 20,007 | 2497.1% |
Finance Cost | (58,699) | (54,258) | 8.2% |
Net Finance Income/(Expense) | 460,905 | (34,251) | -1445.7% |
Profit before Tax from continued operations | 9,078,251 | 3,223,211 | 181.7% |
Taxation | (3,618,135) | (1,361,739) | 165.7% |
Profit for the Period | 5,460,116 | 1,861,471 | 193.3% |
Items that are or may be reclassified to Profit or Loss | |||
Net Change in fair Value of Available for Sale Financial Assets | (70,947) | (77,435) | |
(70,947) | (77,435) | ||
Total Other Comprehensive Income/(Expense) for the Period | (70,947) | (77,435) | -8.4% |
Total Comprehensive Income/(Expense) for the Period | 5,389,168 | 1,784,036 | |
Earnings Per Share (Rs.) | |||
Basic Earnings per Share | 1.19 | 0.40 | 193.3% |
DISTILLERIES COMPANY OF SRI LANKA PLC
STATEMENTS OF FINANCIAL POSITION
AS AT, | Unaudited | Unaudited | Audited |
31-Dec-22 | 31-Dec-21 | 31-Mar-22 | |
Rs.'000s | Rs.'000s | Rs.'000s | |
Non Current Assets | |||
Property, Plant and Equipment | 4,595,470 | 4,955,748 | 4,839,134 |
Right-of-use Asset | 1,146,491 | 1,204,030 | 1,398,847 |
Net Investment in Sub Lease | 27,514 | - | 35,848 |
Other Non Current Financial Investment | 1,238,346 | 2,113,222 | 1,611,699 |
7,007,821 | 8,273,000 | 7,885,528 | |
Current Assets | |||
Inventories | 7,690,933 | 4,343,928 | 3,381,008 |
Other Receivables | 2,862,197 | 3,597,747 | 2,107,585 |
Trade Receivables | 3,508,250 | 2,882,463 | 4,126,084 |
Net Investment in Sub Lease | 15,943 | 14,462 | |
Amounts Due from Related Companies | 796,656 | 675,993 | 596,101 |
Other Current Financial Investment | 19,801 | 48,890 | 21,214 |
Cash and Cash Equivalents | 8,090,727 | 644,806 | 7,027,682 |
22,984,507 | 12,193,827 | 17,274,136 | |
Total Assets | 29,992,328 | 20,466,827 | 25,159,664 |
EQUITY AND LIABILITIES | |||
Capital and Reserve | |||
Stated Capital | 3,000,000 | 3,000,000 | 3,000,000 |
Capital Reserve | 1,673,243 | 2,566,614 | 2,046,591 |
Revenue Reserve | 2,059,036 | 2,337,582 | 1,325,870 |
6,732,279 | 7,904,196 | 6,372,461 | |
Non Current Liabilities | |||
Deferred Tax Liabilities | 1,523,149 | 1,583,059 | 1,523,150 |
Employee Benefits | 171,649 | 251,774 | 175,007 |
Lease Liability | 784,888 | 1,043,930 | 1,220,026 |
2,479,686 | 2,878,763 | 2,918,183 | |
Current Liabilities | |||
Trade and Other Payables | 9,738,954 | 4,027,136 | 7,545,611 |
Amounts Due to Related Companies | 129 | - | 24,021 |
Lease Liability | 498,311 | 300,445 | 422,880 |
Taxes Payable | 9,751,645 | 4,285,440 | 7,669,040 |
Interest Bearing Loans and Borrowings | - | 800,000 | 10,000 |
Bank Overdrafts | 791,324 | 270,847 | 197,468 |
20,780,363 | 9,683,868 | 15,869,020 | |
Total Equity and Liabilities | 29,992,328 | 20,466,827 | 25,159,664 |
Net Assets per Share (Rs.) | 1.46 | 1.72 | 1.39 |
The above unaudited figures are provisional and subject to audit.
I certify that the Financial Statements have been prepared & presented in compliance with the requirements of Companies Act No. 07 of 2007
sgd/- N.N.Nagahawatte Head of Finance
The Directors are responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the board
sgd/- | sgd/- |
D.H.S.Jayawardena | C.R Jansz |
Chairman / Managing Director | Director |
14th February 2023 |
DISTILLERIES COMPANY OF SRI LANKA PLC STATEMENTS OF CHANGES IN EQUITY
Balance as at 1st April 2021
Adjustment due to initial application of SLFRS 16
Total Comprehensive Income for the Period
Profit/(Loss) for the Period
Other Comprehensive Income
Net Change in fair valueof instruments measured at FVOCI
Total Comprehensive Income for the Period Transactions with Owners directly recorded in the Equity
Dividends paid during the Period
Total contributions by and distributions to owners Balance as at 31st December 2021
Balance as at 01st April 2022
Total Comprehensive Income for the Period
Profit for the Period
Other Comprehensive Income
Net Changes to Reserve
Surchage Tax
Dividend Paid
Balance as at 31st December 2022
Stated | Revaluation reserve | Capital reserve | General | Available for sale | Retained | Total |
capital | reserve | reserve | earnings/(losses | |||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 537,217 | 3,671,541 | 9,081,276 |
- | ||||||
3,000,000 | 1,754,636 | 107,882 | 10,000 | 537,217 | 3,671,541 | 9,081,276 |
5,835,382 | 5,835,382 | |||||
- | - | - | - | 156,880 | - | 156,880 |
- | - | - | - | 156,880 | 5,835,382 | 5,992,262 |
- | - | |||||
- | - | - | - | - | (7,169,342) | (7,169,342) |
- | - | - | - | - | (7,169,342) | (7,169,342) |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 694,097 | 2,337,581 | 7,904,196 |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 174,073 | 1,325,870 | 6,372,461 |
- | - | - | - | - | 13,930,456 | 13,930,456 |
- | - | - | - | (373,348) | - | (373,348) |
- | - | - | - | - | (3,077,288) | (3,077,288) |
- | - | - | - | (373,348) | 10,853,167 | 10,479,819 |
- | - | - | - | - | (10,120,000) | (10,120,000) |
3,000,000 | 1,754,636 | 107,882 | 10,000 | (199,275) | 2,059,037.31 | 6,732,279 |
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DCSL - Distilleries Company of Sri Lanka plc published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 04:24:06 UTC.