JAT : Interim Financial Statements 30th September 2022

JAT HOLDINGS PLC

STATEMENT OF FINANCIAL POSITION

As at	30.09.2022	31.03.2022	30.09.2022	31.03.2022
(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Rs.	Rs.	Rs.	Rs.
ASSETS
Non-current assets
Property, plant and equipment	1,919,053,724	1,667,971,362	1,835,999,506	1,663,832,775
Right-of-use assets	72,947,727	15,142,330	23,024,903	15,142,330
Intangible assets	16,422,040	17,627,288	8,589,982	9,688,032
Investments in subsidiaries	-	-	342,434,740	333,818,740
Consumable biological assets	68,877,683	68,577,048	68,877,683	68,577,048
Advance paid for investment properties	927,909,952	142,421,669	927,909,952	142,421,669
	3,005,211,126	1,911,739,697	3,206,836,766	2,233,480,594
Current assets
Inventories	4,030,307,228	2,253,759,798	3,084,481,903	2,146,186,902
Income tax recoverable	-	-	-	6,212,097
Trade and other receivables	2,367,439,039	4,784,543,338	1,814,028,329	3,145,299,054
Advances and prepayments	714,159,264	787,270,868	594,028,575	744,554,705
Amounts due from related parties	38,899,374	61,400,571	753,284,581	367,231,598
Short term financial assets	1,223,846,541	1,056,499,610	939,467,026	868,684,706
Cash and cash equivalents	392,924,579	688,829,851	238,754,336	547,892,271
	8,767,576,025	9,632,304,036	7,424,044,750	7,826,061,333
Total assets	11,772,787,151	11,544,043,733	10,630,881,516	10,059,541,927
EQUITY AND LIABILITIES
Capital and reserves
Stated capital	2,395,221,320	2,395,221,320	2,395,221,320	2,395,221,320
Retained earnings	5,665,895,125	5,263,420,779	5,473,073,418	4,966,747,147
Foreign currency translation reserve	49,766,378	96,297,224	-	-
Equity attributable to equity holders of the parent	8,110,882,821	7,754,939,323	7,868,294,738	7,361,968,467
Non-controlling interest	(12,975,742)	(8,337,725)	-	-
Total equity	8,097,907,079	7,746,601,598	7,868,294,738	7,361,968,467
Non-current liabilities
Interest bearing loans and borrowings	54,865,030	13,588,091	10,892,739	2,265,966
Retirement benefit obligation	66,589,652	63,888,296	65,614,615	62,913,258
Deferred tax liability	19,334,394	14,334,396	19,334,392	14,334,396
	140,789,076	91,810,783	95,841,746	79,513,620
Current liabilities
Trade and other payables	1,346,012,852	2,413,243,197	767,744,002	1,401,216,873
Amounts due to related parties	29,076,926	4,607,375	-	-
Interest bearing loans and borrowings	2,065,041,689	1,275,445,841	1,839,260,497	1,216,842,967
Income tax payable	93,959,529	12,334,939	59,740,533	-
	3,534,090,996	3,705,631,352	2,666,745,032	2,618,059,840
Total equity and liabilities	11,772,787,151	11,544,043,733	10,630,881,516	10,059,541,927
Net asset value per share (Rs.)	15.89	15.19	15.42	14.42
These financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007.	0

[SIGNED] Rizna Dilshard Finance Director

The Board of Directors is responsible for these Financial Statements. Signed for and on behalf of the Board by:

[SIGNED]	[SIGNED]
Dr. Sivakumar Selliah	Aelian Gunawardene
Chairman	Managing Director

The Accounting Policies and Notes on pages 07 to 10 form an integral part of these financial statements.

14th November 2022

Colombo

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JAT HOLDINGS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME-GROUP

	Notes	Quarter ended 30 September		06 months ended 30 September
	2022	2021		Change	2022	2021	Change
		Rs.	Rs.	%	Rs.	Rs.	%
Revenue from contracts with customers	5	2,456,773,843	1,733,293,171		42%	4,391,811,217	3,129,039,054	40%
Cost of sales		(1,599,442,855)	(1,201,445,800)		33%	(3,008,898,964)	(2,214,583,246)	36%
Gross profit		857,330,988	531,847,371		61%	1,382,912,253	914,455,808	51%
Other income		41,213,298	36,816,625		12%	71,513,196	49,260,642	45%
Selling and distribution expenses		(175,279,166)	(197,780,231)		-11%	(314,916,747)	(309,168,310)	2%
Administrative expenses		(184,139,335)	(115,750,017)		59%	(320,168,013)	(212,669,039)	51%
Results from operating activities		539,125,786	255,133,747		111%	819,340,689	441,879,101	85%
Finance cost	6	(61,982,984)	(15,576,973)		298%	(158,709,229)	(37,178,473)	327%
Finance income	7	31,363,410	14,795,076		112%	46,641,313	18,588,154	151%
Profit before tax		508,506,212	254,351,851		100%	707,272,773	423,288,782	67%
Income tax expense		(75,933,480)	(15,950,201)		376%	(106,824,292)	(23,237,221)	360%
Profit for the period		432,572,732	238,401,649		81%	600,448,481	400,051,561	50%
Profit for the period attributable to:
Equity holders of the parent company		434,931,381	240,245,212		81%	603,898,795	401,447,565	50%
Non-controlling interests		(2,358,649)	(1,843,563)		28%	(3,450,314)	(1,396,003)	147%
		432,572,732	238,401,649			600,448,481	400,051,561
Other Comprehensive Income
Other comprehensive income to be reclassified to
profit or loss in subsequent periods
Currency translation of foreign operations		(102,589,144)	9,747,083			(46,572,045)	19,130,699
Other comprehensive income for the period, net of tax	(102,589,144)	9,747,083			(46,572,045)	19,130,699
Total comprehensive income for the period, net of tax		329,983,588	248,148,733			553,876,436	419,182,260
Total comprehensive Income attributable to:
Equity holders of the parent		332,594,862	249,842,756			557,367,949	420,294,003
Non-controlling interest		(2,611,274)	(1,694,024)			(3,491,512)	(1,111,745)
		329,983,588	248,148,733			553,876,436	419,182,260
Basic earnings/(loss) per share (Rs.)		0.85	0.49			1.18	0.85

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JAT HOLDINGS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY

	Notes	Quarter ended 30 September	06 months ended 30 September
	2022	2021	Change	2022	2021	Change
		Rs.	Rs.	%	Rs.	Rs.	%
Revenue from contracts with customers	5	1,812,528,768	1,355,287,798	34%	2,998,400,720	2,338,440,509	28%
Cost of sales		(1,089,971,065)	(932,952,411)	17%	(1,863,374,725)	(1,627,439,051)	14%
Gross Profit		722,557,703	422,335,386	71%	1,135,025,996	711,001,458	60%
Other Income		255,838,231	56,611,592	352%	285,737,932	70,975,609	303%
Selling and distribution expenses		(173,486,560)	(186,502,949)	-7%	(308,790,571)	(287,165,024)	8%
Administrative expenses		(142,696,772)	(91,580,037)	56%	(236,622,054)	(179,021,227)	32%
Results from operating activities		662,212,602	200,863,993	230%	875,351,302	315,790,816	177%
Finance cost	6	(38,951,797)	(12,993,485)	200%	(156,128,272)	(32,454,287)	381%
Finance income	7	38,678,889	13,056,571	196%	53,418,458	14,449,849	270%
Profit before tax		661,939,694	200,927,079	229%	772,641,487	297,786,378	159%
Income tax expense		(54,362,012)	(6,978,223)	679%	(72,360,262)	(12,286,413)	489%
Profit for the period		607,577,682	193,948,856	213%	700,281,225	285,499,965	145%
Other comprehensive income
Other Comprehensive Income not to be reclassified to
profit or loss in subsequent periods
Actuarial gains/(losses) on defined benefit plans		-	-			-
		-
Other comprehensive income for the period, net of tax		-	-		-	-
Total comprehensive income for the period, net of tax		607,577,682	193,948,856		700,281,225	285,499,965
Basic earnings per share (Rs.)		1.19	0.39		1.37	0.60

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JAT HOLDINGS PLC

STATEMENT OF CHANGES IN EQUITY - GROUP

				Total	controlling	Total equity
Notes	capital	earnings	translation
	interest
			reserve
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Balance as at 1 April 2021	918,770,013	4,451,031,491	(24,866,701)	5,344,934,803	(4,369,381)	5,340,565,422
Profit/(loss) for the period	-	401,447,565	-	401,447,565	(1,396,003)	400,051,561
Other comprehensive income, net of tax	-	-	18,846,440	18,846,440	284,259	19,130,699
Total comprehensive income
-	401,447,565	18,846,440	420,294,004	(1,111,745)	419,182,260
Issue of Shares	1,476,451,307	-	-	1,476,451,307	-	1,476,451,307
Dividends to equity holders	-	(113,648,268)	-	(113,648,268)	-	(113,648,268)
Balance as at 30 September 2021	2,395,221,320	4,738,830,787	(6,020,262)	7,128,031,846	(5,481,126)	7,122,550,720

		Attributable to equity holders of the parent	Total	Non-	Total equity
	Notes	Stated	Retained	translation	controlling
	capital	earnings		interest
		reserve
		Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
Balance as at 01 April 2022		2,395,221,320	5,263,420,779	96,297,224	7,754,939,323	(8,337,725)	7,746,601,598
Profit for the period		-	603,898,795	-	603,898,795	(3,450,314)	600,448,481
Other comprehensive income, net of tax		-	-	(46,530,846)	(46,530,846)	(41,198)	(46,572,045)
Total comprehensive income
	-	603,898,795	(46,530,846)	557,367,949	(3,491,512)	553,876,436
Acquistion of non controlling Interests	4	-	(7,469,495)		(7,469,495)	(1,146,505)	(8,616,000)
Dividends to equity holders		-	(193,954,954)	-	(193,954,954)	-	(193,954,954)
Balance as at 30 September 2022		2,395,221,320	5,665,895,125	49,766,378	8,110,882,821	(12,975,742)	8,097,907,079

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