Haycarb : Interim Financial Statement as at 30.06.2022

HAYCARB PLC

Co. Reg. No. PQ 59

No.400, Deans Road, Colombo-10, Sri Lanka

Interim Report

Three Months ended 30 June 2022

Quarter-1 (2022/23)

Corporate Information

NAME OF COMPANY

Haycarb PLC

(A quoted public company with limited liability, incorporated in Sri Lanka in 1973)

COMPANY REGISTRATION NUMBER

PQ 59

STOCK EXCHANGE LISTING

The ordinary shares of the company are listed with the Colombo Stock Exchange

of Sri Lanka

DIRECTORS

Mohan Pandithage (Chairman)

Rajitha Kariyawasan (Managing Director)

Dhammika Perera (Resigned w.e.f. 10th June 2022)

Arjun Senaratna

Sarath Ganegoda

Ms Jeevani Abeyratne

Dr Sarath Abayawardana

Sujeewa Rajapakse

M.S.P. Udaya Kumara

Brahman Balaratnarajah

Ms. Yogadinusha Bhaskaran (Alternate director to Mr. Dhammika Perera)-

(Resigned w.e.f. 10th June 2022)

Ms. Sharmila Ragunathan (Resigned w.e.f 30th April 2022)

Ali Asgar Munaver Caderbhoy

James Naylor

M.H. Jamaldeen

Ms. Shamalie Gunawardana

SUBSIDIARIES AND ASSOCIATES

Carbokarn Co. Limited (Bangkok, Thailand)

CK Regen Systems Co. Limited (Bangkok, Thailand) Shizuka Company Limited (Ratchaburi, Thailand)

Eurocarb Products Limited (Bristol, England)

Haycarb Holdings Australia (Pty) Limited (Victoria, Australia) Haycarb Holdings Bitung Limited (Tortola, British Virgin Islands) Haycarb USA Inc. (Woodlands, Texas, U.S.A)

PT Mapalus Makawanua Charcoal Industry (Bitung, Indonesia)

Puritas (Pvt) Limited

Recogen (Pvt) Limited

Ultracarb (Pvt) Limited

Haycarb Value Added Products (Pvt) Limited

PT. Haycarb Palu Mitra (Palu, Indonesia)

Carbotels (Pvt) Limited - Associate

Lakdiyatha (Pvt) Limited - Associate

Puricarb Pte.Ltd. (Singapore)

Haycarb Activated Carbon (Pvt) Limited (Chennai,India)

SECRETARIES

Hayleys Group Services (Pvt) Limited

400, Deans Road, Colombo 10, Sri Lanka.

Telephone [phone]

Fax: [phone]

E-mail: [e-mail]

REGISTERED OFFICE

Hayley Building

400, Deans Road, Colombo 10, Sri Lanka.

Telephone: [phone]

Fax: [phone]

E - mail : [e-mail] Website:http://www.haycarb.com

Page 1

Haycarb PLC

INCOME STATEMENT

Audited				Unaudited		Unaudited
year ended		For the period ended	3 months to
31.03.2022				30.06.2022	30.06.2021		Change
Rs.'000				Rs.'000		Rs.'000	%
		CONSOLIDATED					+/(-)
33,160,474		Revenue	15,041,682	7,396,534		103
(25,942,668)		Cost of sales		(10,874,058)		(5,821,317)	87
7,217,806		Gross profit	4,167,624	1,575,217		165
249,988		Other operating income	35,876	12,594		185
(260,576)		Selling & distribution expenses	(121,988)	(31,768)	284
(4,128,162)		Administrative expenses		(1,502,588)		(843,866)	78
3,079,056		Results from operating activities	2,578,924	712,177		262
2,321,003		Finance income	1,916,348	111,558		1,618
(722,727)		Finance cost	(802,138)	(104,243)	669
1,598,276		Net finance income/ (cost)	1,114,210	7,315		15,132
(21,344) Share of profit of equity accounted investees (net of tax)	(8,067)	(1,637)	393
4,655,988		Profit before income tax		3,685,067		717,855		413
(934,848)		Tax expense		(661,558)		(184,098)	259
3,721,140		Profit for the period		3,023,509		533,757		466
		Attributable to:
3,287,554		Equity holders of the parent	2,890,190	441,988		554
433,586		Non-controlling interest	133,319	91,769		45
3,721,140		Profit for the period		3,023,509		533,757		466
		Earnings per share
11.06		Basic earnings per share (Rs.)*	9.73	1.49
		COMPANY
14,957,058		Revenue	8,364,379	3,362,403		149
(12,396,053)		Cost of sales		(5,757,776)		(2,818,293)	104
2,561,005		Gross profit	2,606,603	544,110		379
907,522		Other operating income	139,295	169,704		(18)
(44,570)		Selling & distribution expenses	(25,278)	(8,480)	198
(1,943,024)		Administrative expenses		(491,188)		(370,979)	32
1,480,933		Results from operating activities	2,229,432	334,355		567
1,878,764		Finance income	1,406,337	75,363		1,766
(435,204)		Finance cost	(351,871)	(48,387)	627
1,443,560		Net finance income/(cost)		1,054,466		26,976		3,809
2,924,493		Profit before income tax	3,283,898	361,331		809
(336,182)		Tax expense	(455,526)	(50,586)	800
2,588,311		Profit for the period		2,828,372		310,745		810
8.71		Basic earnings per share (Rs.) *	9.52	1.05

Notes on pages 7 and 8 form an integral part of these financial statements.

Figures in brackets indicate deductions.

Page 2

Haycarb PLC

STATEMENT OF OTHER COMPREHENSIVE INCOME

	Group		Company
	Unaudited	Unaudited		Unaudited	Unaudited
For the year ended 30th June	2022	2021	2022	2021
	Rs. '000	Rs. '000		Rs. '000	Rs. '000
Profit for the Period	3,023,509	533,757	2,828,372	310,745
Other comprehensive income
Net Exchange differences on translation of foreign entities	1,886,126	(14,571)	-	-
Net gain/(loss) on available-for-sale financial assets	(288,881)	179,025	(288,881)	179,025
Other comprehensive income for the period (net of tax)	1,597,245	164,454	(288,881)	179,025
Total comprehensive income for the period (net of tax)	4,620,754	698,211	2,539,491	489,770
Attributable to:
Equity holders of the parent	4,083,392	621,694	2,539,491	489,770
Non-controlling interests	537,362	76,517		-	-
	4,620,754	698,211	2,539,491	489,770

Page 3

Haycarb PLC			-	-0.236032002		0	0.3
STATEMENT OF FINANCIAL POSITION
	Group	Company			Group	Company
						Unaudited			Unaudited	Unaudited		Unaudited
	Re-stated	Re-stated					Re-stated			Re-stated
31.03.2022			31.03.2022	As at	30.06.2022	30.06.2021		30.06.2022	30.06.2021
	Rs.'000	Rs.'000		Rs.'000			Rs.'000	Rs.'000		Rs.'000
					ASSETS
					Non-Current Assets
8,895,684			3,546,621	Property, plant and equipment	9,716,107	6,715,767		3,602,752	3,016,333
105,870			69,126	Right-of-use assets	81,850	150,842		60,484	95,047
258,465			53,992	Intangible assets	254,091	237,739		50,639	30,336
-			1,494,769	Investments in subsidiaries	-	-		1,494,769	1,494,769
590,336			92,903	Investment in equity accounted investees	582,269	613,666		92,903	92,903
1,378,880			1,322,832	Other non-current financial assets	1,097,692	2,109,588		1,033,951	2,067,413
	132,820			-	Deferred tax assets	169,289			62,457		-		-
11,362,055			6,580,243		11,901,298	9,890,059		6,335,498	6,796,801
					Current Assets
15,807,144			5,062,409	Inventories	20,242,804	8,201,120		5,294,855	2,084,859
8,473,480			5,423,774	Trade and other receivables	9,738,518	4,230,970		8,009,846	2,874,694
-			782,477	Amounts due from subsidiaries	-	-		1,954,821	489,585
177,244			100,916	Amounts due from related parties	128,865	18,029		36,141	-
63,611			3,802	Amounts due from equity accounted investees	63,208	44,917		198	165
1,010,819			425,250	Other current assets	1,705,270	737,862		793,578	269,828
	3,117,724			831,017	Cash in hand and at bank	5,959,056			2,268,619		2,962,339		474,841
28,650,022			12,629,645		37,837,721	15,501,517		19,051,778	6,193,972
	40,012,077			19,209,888	Total Assets	49,739,019			25,391,576		25,387,276		12,990,773
					EQUITY & LIABILITIES
					Equity
331,774			331,774	Stated capital	331,774	331,774		331,774	331,774
994,758			549,647	Capital reserves	994,758	686,284		567,096	442,458
	16,319,454			7,553,156	Revenue reserves	20,283,996			12,330,254		9,956,348		6,766,596
17,645,986			8,434,577	Total equity attributable to equity holders of the company	21,610,528	13,348,312		10,855,218	7,540,828
	2,648,637			-	Non-controlling interest	3,185,999			1,795,998		-		-
20,294,623			8,434,577	Total equity	24,796,527	15,144,310		10,855,218	7,540,828
					Non-Current Liabilities
677,152			670,906	Interest-bearing loans & borrowings	637,012	411,643		630,432	410,443
54,051			41,615	Non-current lease liability	42,123	91,287		32,669	70,472
368,658			294,955	Deferred tax liabilities	363,682	137,285		294,955	77,864
	1,143,285			831,502	Employee benefit obligations	1,202,673			884,077		840,373		693,501
2,243,146			1,838,978	Total non-current liabilities	2,245,490	1,524,292		1,798,429	1,252,280
					Current Liabilities
3,398,755			1,721,652	Trade and other payables	4,141,345	1,828,467		1,847,558	745,991
10,328,363			6,361,400	Interest-bearing loans & borrowings	14,217,002	3,952,305		9,751,349	2,553,647
59,361			37,299	Current lease liability	52,157	72,256		37,299	33,430
1,073,004			438,566	Other current liabilities	919,608	1,118,563		322,690	472,543
-			84,827	Amounts due to subsidiaries	-	-		206,722	115,542
2,186,028			292,589	Amounts due to other related parties	2,567,743	1,357,193		119,462	99,020
	428,797			-	Income tax payable	799,147			394,190		448,549		177,492
	17,474,308			8,936,333	Total Current Liabilities	22,697,002			8,722,974		12,733,629		4,197,665
19,717,454			10,775,311	Total Liabilities	24,942,492	10,247,266		14,532,058	5,449,945
	40,012,077			19,209,888	Total Equity and Liabilities	49,739,019			25,391,576		25,387,276		12,990,773
59.39			28.39	Net assets per share ( Rs.)*	72.73	44.93		36.53	25.38
"It is certified that the financial statements set out on pages 2 to 8 have been prepared in compliance with the requirements of the
Companies Act No. 07 of 2007".
(0)			-		-	0			(0)
					Sgd.
					……………………….
					Ms. M J A S Abeyratne
					Finance Director
					Signed for and on behalf of the Board,
					Sgd.				Sgd.
					……………………….				…………………….
					A M Pandithage				H S R Kariyawasan
					Chairman				Managing Director
					9th August 2022

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