Hunas : Interim Financial Statement period ended 31st March 2022

HUNAS HOLDINGS PLC

Company Registration Number PQ 72

Interim Report - 4th Quarter

Period Ended 31st March 2022

Hunas Holdings PLC and its subsidiaries

STATEMENT OF FINANCIAL POSITION

	As at 31 March (Unaudited)	As at 31 March
	(Audited)
	2022	2022	2021
	Rs.	Rs.	Rs.
ASSETS	Group	Company	Company
Non current assets
Property, plant and equipment	4,197,123,533	343,197,112	357,306,864
Right of use Assets	81,587,115	-	-
Bearer biological assets	1,418,758,177	-	-
Consumable biological assets	450,270,000	-	-
Investment property	3,036,622	-	-
Investment in subsidiary	-	3,829,411,000
Investment in associates	329,184,982	424,662,000
Amount due from related parties	115,946,448	115,946,448	115,946,448
Investment in fixed deposits	29,680,369	-	-
Investment In equity shares	90,759,000	-	-
Goodwill	293,578,546	-	-
	7,009,924,793	4,713,216,560	473,253,312
Current assets
Inventories	102,872,973	5,177,248	3,036,933
Advances & Deposits	13,288,039	2,323,118	1,442,063
Trade and other receivables	15,795,373	3,398,578	1,439,006
Short term investment - Fixed deposits	13,500,000	-
Amount due from related parties	45,619,512	40,000,000	40,000,000
Tax recoverable	853,649	708,075	708,075
Cash and cash equivalents	19,517,771	6,255,827	3,371,960
	211,447,317	57,862,845	49,998,037
Total assets	7,221,372,109	4,771,079,405	523,251,349
EQUITY AND LIABILITIES
Capital and reserves
Stated capital	4,336,573,000	4,336,573,000	82,500,000
Revaluation reserve	95,874,248	95,874,248	95,874,248
Retained earnings	66,606,771	76,001,617	129,666,843
Non controlling interest	150,514,860	-	-
Total equity
4,649,568,880	4,508,448,865	308,041,091
Non current liabilities
Deferred tax liability	36,995,721	36,969,401	36,969,401
Interest bearing loans and borrowings	1,025,076,979	115,946,448	129,879,409
Retentions	12,019,858	-
Retirement benefit obligations	52,202,825	6,641,564	7,484,258
	1,126,295,383	159,557,414	174,333,068
Current liabilities
Trade and other payables	117,148,465	35,269,975	11,409,968
Amounts due to related parties	1,249,085,783	52,378,302	25,450,279
Contract liabilities	8,147,487	8,147,487	4,016,943
Bank overdraft	71,126,112	7,277,363
	1,445,507,847	103,073,126	40,877,190
Total equity and liabilities	7,221,372,109	4,771,079,405	523,251,349

The Statement of Financial Position as at 31 March 2022 and The Statement of Profit or Loss & Other Comprehensive Income, Statement of Changes in Equity and Cash flow Statement for the quarter then ended are drawn up from the unaudited Financial Statements of the company and they provide the information required by the Colombo Stock Exchange.

Head of Finance

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Signed for and on behalf of the Board by ;

Director

Director

01st September 2022

Colombo

- BS -

Hunas Holdings PLC and its subsidiaries

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	Quarter ended 31 March (Unaudited)	Year ended 31	Year ended 31
	March(Unaudited)	March(Audited)
	2022	2022	2021	2022	2022	2021
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
	Group	Company	Company	Group	Company	Company
Revenue	192,175,083	26,274,389	13,975,695	225,426,083	59,525,389	24,704,695
Cost of sale	(162,094,349)	(11,388,752)	(5,946,378)	(180,801,349)	(30,095,752)	(15,909,026)
Gross profit	30,080,734	14,885,637	8,029,317	44,624,734	29,429,637	8,795,669
Administrative expenses	(43,544,771)	(25,066,769)	(19,134,169)	(98,790,771)	(80,312,769)	(62,030,521)
Selling and distribution expenses	(2,952,900)	(1,777,678)	(1,045,132)	(4,283,900)	(3,108,678)	(2,948,132)
Other income	420,098	327,343	62,348	720,098	627,343	159,348
Share of loss from associates	(4,718,018)			(4,718,018)	-	-
Excess on transfer	8,824,680			8,824,680
Loss from operating activities	(11,890,177)	(11,631,466)	(12,087,636)	(53,623,177)	(53,364,466)	(56,023,636)
Finance cost	(9,125,596)	(35,240)	(98,027)	(9,433,596)	(343,240)	(625,027)
Finance income	58,499	31,481	118,982	69,499	42,481	150,982
Loss before tax	(20,957,274)	(11,635,226)	(12,066,681)	(62,987,274)	(53,665,226)	(56,497,681)
Income tax expense	-		6,996,629	-	-	6,996,629
Loss for the year	(20,957,274)	(11,635,226)	(5,070,052)	(62,987,274)	(53,665,226)	(49,501,052)
Other Comprehensive Income

Actuarial Gain/(Loss) on Defined Benefits Obligation

Income Tax Effect

Total Other Comprehensive Income Total Other Comprehensive Income

Loss attributable to:

Equity Holders of the owners of the parent Non-Controlling Interest

	162,497				162,497
	(22,750)				(22,750)
	139,747				139,747
(20,957,274)	(11,495,479)	(5,070,052)	(62,987,274)	(53,665,226)	(49,361,305)

	(21,030,072)	(63,060,072)
	72,798	72,798
	(20,957,274)				(62,987,274)

- PL -

Hunas Holdings PLC and its subsidiaries

STATEMENT OF CHANGES IN EQUITY

Year ended 31 March 2022

			Revaluation	Retained	Non
		Stated capital	controlling	Total
		reserve	earnings
Group		interest
		Rs.		Rs.	Rs.	Rs.
Balance as at 01 April 2021	82,500,000	95,874,248	129,666,843	-	308,041,091
Share Capital top up by Investment	4,254,073,000				4,254,073,000
Transfer of subsidiaries	-	-	-	150,442,062	150,442,062
Loss for the period	-	-	(63,060,072)	72,798	(62,987,274)
Balance as at 31 March 2022
4,336,573,000	95,874,248	66,606,771	150,514,860	4,649,568,880
			Stated capital	Revaluation	Retained	Total
Company		reserve	earnings
			Rs.		Rs.	Rs.
Balance as at 01 April 2021		82,500,000	95,874,248	129,666,843	308,041,091
Share Capital top up by Investment		4,254,073,000	-	-	4,254,073,000
Loss for the period		-	-	(53,665,226)	(53,665,226)
Balance as at 31 March 2022		4,336,573,000	95,874,248	76,001,617	4,508,448,865

- ES -

Hunas Holdings PLC and its subsidiaries

STATEMENT OF CASH FLOWS

Year ended 31 March 2022

	2022	2022
	Rs.	Rs.
Cash flows from / (used in) operating activities	Group	Company

Net loss before income tax expense

Adjustments for:

Depreciation of property, plant and equipment Share of loss from associates

Excess on transfer Finance cost

Provision for retirement benefit liability Finance income

Operating profit before working capital changes

Working capital changes (Increase)/decrease in inventories (Increase/decrease in Advances & Deposits (Increase/decrease in trade and other receivables (Increase)/decrease in amounts due from related parties Increase/(decrease) in amounts due to related parties Increase/(decrease) in contract liabilities Increase/(decrease) in trade and other payables

Cash generated from operations

Gratuity paid

Tax paid

Finance cost paid

Net cash flows from operating activities

Cash flows from /(used in) investing activities

Purchase and construction of property, plant and equipment Cost incurred on bearer biological assets

Withdrawals from fixed deposits Transfer of subsidiaries Interest income received

Net cash flows from/(used in) investing activities

Net cash flows from / (used in) financing activities Proceeds from interest bearing loans and borrowings Repayment of interest bearing loans and borrowings Net cash flows from / (used in) financing activities

Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year

(62,987,274) (53,665,226)

21,138,717 16,414,455

4,718,018-

(8,824,680)-

9,936,787343,240

1,981,660 1,322,107

(39,275)(42,481)

(34,076,049) (35,627,905)

15,170,158 (2,140,315)

1,402,449 (511,277)

(10,072,494) (2,329,350)

(5,011,004)-

26,933,900 26,928,022

1,608,888 4,130,546

21,925,112 23,860,007

17,880,961 14,309,728

(2,164,800) (2,164,800)

70,819-

(9,936,787) (343,240)

5,850,194 11,801,688

(28,279,976) (2,304,704)

(151,647)-

387,600-

(41,255,590)-

39,27542,481

(69,260,338) (2,262,223)

23,330,687-

(967,884)-

22,362,804-

(41,047,341) 9,539,465

(10,561,000) (10,561,000)

(51,608,341) (1,021,536)