JAT : Quarterly Financial Statements for the Third quarter ending 31st December 2022

JAT HOLDINGS PLC

STATEMENT OF FINANCIAL POSITION

As at	31.12.2022	31.03.2022	31.12.2022	31.03.2022
(Unaudited)	(Audited)	(Unaudited)	(Audited)
	Rs.	Rs.	Rs.	Rs.
ASSETS
Non-current assets
Property, plant and equipment	1,948,722,188	1,667,971,362	1,851,489,342	1,663,832,775
Right-of-use assets	88,670,838	15,142,330	26,274,732	15,142,330
Intangible assets	17,262,853	17,627,288	9,454,689	9,688,032
Investments in subsidiaries	-	-	342,434,740	333,818,740
Consumable biological assets	69,930,552	68,577,048	69,930,552	68,577,048
Long term financial assets	7,122,400		7,122,400
Advance paid for investment properties	922,117,671	142,421,669	366,647,326	142,421,669
	3,053,826,502	1,911,739,697	2,673,353,781	2,233,480,594
Current assets
Inventories	4,093,933,195	2,253,759,798	3,185,431,976	2,146,186,902
Income tax recoverable	-	-	-	6,212,097
Trade and other receivables	2,466,062,820	4,784,543,338	1,629,415,398	3,145,299,054
Advances and prepayments	1,653,005,859	787,270,868	1,454,405,792	744,554,705
Amounts due from related parties	27,925,134	61,400,571	536,636,717	367,231,598
Short term financial assets	907,633,787	1,056,499,610	622,100,731	868,684,706
Cash and cash equivalents	269,028,175	688,829,851	108,974,894	547,892,271
	9,417,588,970	9,632,304,036	7,536,965,508	7,826,061,333
Total assets	12,471,415,472	11,544,043,733	10,210,319,289	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	5,822,592,836	5,263,420,779	5,507,540,076	4,966,747,147
Foreign currency translation reserve	135,631,224	96,297,224	-	-
Equity attributable to equity holders of the parent	8,353,445,380	7,754,939,323	7,902,761,396	7,361,968,467
Non-controlling interest	(12,369,872)	(8,337,725)	-	-
Total equity	8,341,075,508	7,746,601,598	7,902,761,396	7,361,968,467
Non-current liabilities
Interest bearing loans and borrowings	72,874,710	13,588,091	14,835,442	2,265,966
Retirement benefit obligation	68,054,748	63,888,296	67,123,312	62,913,258
Deferred tax liability	51,655,682	14,334,396	50,837,188	14,334,396
	192,585,140	91,810,783	132,795,942	79,513,620
Current liabilities
Trade and other payables	2,127,614,679	2,413,243,197	605,472,341	1,401,216,873
Amounts due to related parties	36,783,747	4,607,375	-	-
Interest bearing loans and borrowings	1,618,668,515	1,275,445,841	1,509,609,305	1,216,842,967
Income tax payable	154,687,883	12,334,939	59,680,305	-
	3,937,754,824	3,705,631,352	2,174,761,951	2,618,059,840
Total equity and liabilities	12,471,415,472	11,544,043,733	10,210,319,289	10,059,541,927
Net asset value per share (Rs.)	16.37	15.19	15.48	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.

03rd February 2023

Colombo

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JAT HOLDINGS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME-GROUP

	Notes	Quarter ended 31 December		Nine months ended 31 December
	2022	2021	Change	2022	2021	Change
		Rs.	Rs.	%	Rs.	Rs.	%
Revenue from contracts with customers	5	2,552,879,396	2,302,721,945	11%	6,944,690,613	5,431,761,000	28%
Cost of sales		(1,526,341,570)	(1,625,680,621)	-6%	(4,535,240,534)	(3,840,263,867)	18%
Gross profit		1,026,537,826	677,041,324	52%	2,409,450,079	1,591,497,133	51%
Other income		22,970,242	26,117,024	-12%	94,483,438	75,377,666	25%
Selling and distribution expenses		(265,983,727)	(228,742,155)	16%	(580,900,474)	(537,910,465)	8%
Administrative expenses		(201,459,277)	(134,833,909)	49%	(521,627,290)	(347,502,947)	50%
Results from operating activities		582,065,064	339,582,284	71%	1,401,405,753	781,461,387	79%
Finance cost	6	(126,720,693)	(20,359,650)	522%	(285,429,922)	(57,538,123)	396%
Finance income	7	24,885,454	19,539,616	27%	71,526,767	38,127,770	88%
Profit before tax		480,229,825	338,762,250	42%	1,187,502,598	762,051,034	56%
Income tax expense		(93,361,176)	(21,569,811)	333%	(200,185,468)	(44,807,032)	347%
Profit for the period		386,868,649	317,192,439	22%	987,317,130	717,244,002	38%
Profit for the period attributable to:
Equity holders of the parent company		386,381,209	319,045,643	21%	990,280,004	720,493,209	37%
Non-controlling interests		487,440	(1,853,204)	-126%	(2,962,874)	(3,249,207)	-9%
		386,868,649	317,192,439		987,317,130	717,244,002
Other Comprehensive Income
Other comprehensive income to be reclassified to
profit or loss in subsequent periods
Currency translation of foreign operations		85,983,277	4,754,429		39,411,233	23,885,127
Other comprehensive income for the period, net of tax	85,983,277	4,754,429		39,411,233	23,885,127
Total comprehensive income for the period, net of tax		472,851,926	321,946,868		1,026,728,363	741,129,129
Total comprehensive Income attributable to:
Equity holders of the parent		472,246,056	323,679,068		1,029,614,004	743,973,075
Non-controlling interest		605,871	(1,732,200)		(2,885,642)	(2,843,946)
		472,851,926	321,946,868		1,026,728,363	741,129,129
Basic earnings/(loss) per share (Rs.)		0.76	0.63		1.94	1.48

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JAT HOLDINGS PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY

	Notes	Quarter ended 31 December		Nine months ended 31 December
	2022	2021	Change	2022	2021	Change
		Rs.	Rs.	%	Rs.	Rs.	%
Revenue from contracts with customers	5	1,809,711,443	1,845,005,814	-2%	4,808,112,164	4,183,446,323	15%
Cost of sales		(1,046,701,160)	(1,247,918,915)	-16%	(2,910,075,885)	(2,875,357,966)	1%
Gross Profit		763,010,283	597,086,899	28%	1,898,036,279	1,308,088,357	45%
Other Income		19,344,777	37,547,241	-48%	305,082,708	108,522,850	181%
Selling and distribution expenses		(258,484,187)	(218,240,601)	18%	(567,274,758)	(505,405,625)	12%
Administrative expenses		(162,290,604)	(100,295,243)	62%	(398,912,658)	(279,316,470)	43%
Results from operating activities		361,580,269	316,098,296	14%	1,236,931,571	631,889,112	96%
Finance cost	6	(95,232,551)	(13,999,034)	580%	(251,360,823)	(46,453,322)	441%
Finance income	7	30,652,647	21,832,739	40%	84,071,105	36,282,588	132%
Profit before tax		297,000,365	323,932,001	-8%	1,069,641,853	621,718,378	72%
Income tax expense		(32,850,210)	(15,927,685)	106%	(105,210,472)	(28,214,098)	273%
Profit for the period		264,150,155	308,004,316	-14%	964,431,381	593,504,280	62%
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		264,150,155	308,004,316		964,431,381	593,504,280
Basic earnings per share (Rs.)		0.52	0.60		1.89	1.22

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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	-	720,493,209	-	720,493,209	(3,249,207)	717,244,002
Other comprehensive income, net of tax	-	-	23,479,866	23,479,866	405,261	23,885,127
Total comprehensive income	-	720,493,209	23,479,866	743,973,075	(2,843,946)	741,129,129
Issue of Shares	1,476,451,307	-	-	1,476,451,307	-	1,476,451,307
Dividends to equity holders	-	(276,978,756)	-	(276,978,756)	-	(276,978,756)
Balance as at 31 December 2021	2,395,221,320	4,894,545,944	(1,386,835)	7,288,380,429	(7,213,327)	7,281,167,102

		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		-	990,280,004	-	990,280,004	(2,962,874)	987,317,130
Other comprehensive income, net of tax		-	-	39,334,000	39,334,000	77,233	39,411,233
Total comprehensive income		-	990,280,004	39,334,000	1,029,614,004	(2,885,642)	1,026,728,363
Acquistion of non controlling Interests	4	-	(7,469,495)		(7,469,495)	(1,146,505)	(8,616,000)
Dividends to equity holders		-	(423,638,452)	-	(423,638,452)	-	(423,638,452)
Balance as at 31 December 2022		2,395,221,320	5,822,592,836	135,631,224	8,353,445,380	(12,369,872)	8,341,075,508

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