INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC

STATEMENT OF FINANCIAL POSITION

Group

Company

Year Ended

Year Ended

31 March

31 March

2021

2021

As at 31 December

2021

2021

Rs. '000

Rs. '000

Rs. '000

Rs. '000

ASSETS

Non - Current Assets

Leasehold property, plant and equipment

489,819

499,896

489,819

499,896

Freehold property, plant and equipment

525,136

280,169

505,964

258,759

Bearer biological assets

2,904,992

2,736,500

2,904,992

2,736,500

Consumable biological assets

160,028

160,028

160,028

160,028

Financial Assets

167,040

167,040

167,040

167,040

Long term investments

1,795,692

1,646,123

491,850

491,850

6,042,707

5,489,757

4,719,693

4,314,074

Current Assets

Produce on bearer biological assets

6,395

6,395

6,395

6,395

Inventories

426,518

329,298

426,404

329,184

Trade and other receivables

393,835

366,875

391,839

365,254

VAT recoverable

21,066

21,066

21,066

21,066

ESC Recoverable

9,867

21,100

9,867

21,100

Income tax recoverable

18,173

16,131

18,173

16,131

Amounts due from related Companies

12,186

11,337

39,821

40,351

Short term investment

775,271

865,467

775,271

865,467

Cash and bank balances

18,461

18,181

18,461

18,181

1,681,773

1,655,849

1,707,298

1,683,129

Total Assets

7,724,480

7,145,606

6,426,990

5,997,202

EQUITY & LIABILITIES

Capital & Reserves

Stated capital (Note 1)

250,000

250,000

250,000

250,000

General reserve

225,000

225,000

225,000

225,000

Timber reserve

35,583

35,583

35,583

35,583

Fair Value Through Other Comprehensive Income Reserve

48,588

48,588

48,600

48,600

Retained profit

3,942,686

3,477,531

2,655,235

2,339,040

Shareholders' Fund

4,501,857

4,036,703

3,214,419

2,898,223

Non - Current Liabilities

Loans & borrowings

931,406

677,619

931,406

677,619

Retirement benefit obligations

477,645

446,116

477,645

446,116

Deferred income

207,691

208,443

207,691

208,443

Deferred tax liability

167,639

167,634

167,639

167,634

Liability to make lease payment after one year

487,336

491,903

487,336

491,903

2,271,716

1,991,715

2,271,716

1,991,715

Current Liabilities

Loans & borrowings

307,254

485,159

307,254

485,159

Liability to make lease payment within one year

5,587

5,587

5,587

5,587

Trade and other payables

332,804

344,107

327,872

339,301

Dividend payable

40,189

133,308

40,189

133,308

Amounts due to related Companies

265,073

149,027

259,954

143,908

950,906

1,117,188

940,856

1,107,263

Total Equity & Liabilities

7,724,480

7,145,606

6,426,990

5,997,202

Net Asset Value per Share (Rs.)

180.07

161.47

128.58

115.93

The above figures are subject to audit

These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

Ajith Ranasinghe

Acting Financial Controller

The Board of Directors is responsible for these Financial Statements.

Approved and signed for and on behalf of the Board of Directors of Kegalle Plantations PLC.

Dr. S S B D G Jayawardena

Prof. R C W M R A Nugawela

Director

Director

Colombo

11 February 2022

Kegalle Plantations PLC

2021/22 - Q3

INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC

STATEMENT OF PROFIT OR LOSS

Group

For the nine months ended 31 December

Quarter Ended

Nine Months Ended

Year Ended

Variance

Variance

31 March

2021

2020

2021

2020

+ / (-)

+ / (-)

2021

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Rs. '000

Revenue

784,524

837,099

(6)

2,661,842

2,148,441

24

3,148,122

Cost of sales

(626,941)

(707,083)

11

(2,250,993)

(1,913,908)

(18)

(2,826,535)

Gross profit

157,584

130,015

21

410,850

234,533

75

321,587

Gain/(Loss) on fair value of biological assets

-

-

-

-

-

-

4,467

Other income

29,649

13,319

123

78,239

49,536

58

64,755

Administrative expenses

(11,818)

(13,753)

14

(38,042)

(36,194)

(5)

(52,528)

Management fee

(27,328)

(20,089)

(36)

(73,437)

(42,164)

(74)

(58,942)

Profit from operations

148,086

109,492

35

377,609

205,711

84

279,339

Finance income

10,879

5,078

114

26,467

14,577

82

56,345

Finance cost

(24,958)

(34,466)

28

(79,300)

(100,576)

21

(125,000)

Net finance income/(loss)

(14,078)

(29,388)

52

(52,833)

(85,999)

39

(68,655)

Share of result of associates

73,677

188,871

(61)

178,249

327,188

(46)

403,869

Profit before taxation

207,685

268,975

(23)

503,025

446,901

13

614,553

Tax (expenses) / reversal

(8,779)

(14,236)

38

(37,871)

(31,657)

(72)

(131,952)

Profit for the period

198,906

254,739

(22)

465,155

415,244

12

482,601

Basic earnings per share (Rs.)

7.96

10.19

18.61

16.61

19.30

Dividend per share (Rs.)

-

-

-

-

-

Company

For the nine months ended 31 December

Quarter Ended

Nine Months Ended

Year Ended

Variance

Variance

31 March

2021

2020

2021

2020

+ / (-)

+ / (-)

2021

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Rs. '000

Revenue

784,524

837,099

(6)

2,661,842

2,148,441

24

3,148,122

Cost of sales

(626,941)

(707,083)

11

(2,250,993)

(1,913,908)

(18)

(2,826,535)

Gross profit

157,584

130,015

21

410,850

234,533

75

321,587

Gain/(Loss) on fair value of biological assets

-

-

-

-

-

-

4,467

Other income

29,087

12,784

128

76,486

47,949

60

220,583

Administrative expenses

(11,031)

(12,965)

15

(35,679)

(33,830)

(5)

(48,749)

Management fee

(27,328)

(20,089)

(36)

(73,437)

(42,164)

(74)

(58,942)

Profit from operations

148,312

109,745

35

378,219

206,487

83

438,946

Finance income

10,879

5,078

114

26,467

14,577

82

56,345

Finance cost

(24,958)

(34,466)

28

(79,300)

(100,576)

21

(125,000)

Net finance income/(loss)

(14,078)

(29,388)

52

(52,833)

(85,999)

39

(68,655)

Share of result of associates

-

-

-

-

-

-

-

Profit before taxation

134,234

80,357

67

325,386

120,489

170

370,291

Tax (expenses) / reversal

(3,064)

-

(100)

(9,191)

-

(100)

(55,165)

Profit for the period

131,170

80,357

63

316,196

120,489

162

315,126

Basic earnings per share (Rs.)

5.25

3.21

12.65

4.82

12.61

Dividend per share (Rs.)

-

-

-

-

4.00

Figures in brackets indicate deductions

The above figures are subject to audit

Kegalle Plantations PLC

2021/22 - Q3

INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC

STATEMENT OF COMPREHENSIVE INCOME

Group

For the nine months ended 31 December

Quarter Ended

Nine Months Ended

Year Ended

2021

2020

Variance

2021

2020

Variance

31 March

+ / (-)

+ / (-)

2021

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Rs. '000

Profit for the period

198,906

254,739

(22)

465,155

415,244

12

482,601

Other Comprehensive Income

Other Comprehensive income not to be reclassified to profit or loss in

Subsequent periods (net of tax)

Actuarial Gain/(Loss) on Defined Benefit Plans

Income tax effect

Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods

Share of Other Comprehensive Income of Equity Accounted Investees

Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods (net of tax)

Actuarial Gain/(Loss) on Defined Benefit Plans

Income tax effect

Net Gain/(Loss) on FVTOCI financial assets

Income tax effect

Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods

Other Comprehensive income to be reclassified to profit or loss in Subsequent periods (net of tax)

Other Comprehensive Income/(Loss) for the period, net of tax

Total Comprehensive Income for the period, net of tax

-

-

-

-

-

-

51,417

-

-

-

-

-

-

(7,198)

-

-

-

-

-

-

44,219

-

-

-

-

-

-

(713)

-

-

-

-

-

-

100

-

-

-

-

-

-

(613)

-

-

-

-

-

-

13,320

-

-

-

-

-

-

(1,332)

-

-

-

-

-

-

11,988

-

-

-

-

-

-

11,375

-

-

-

-

-

-

-

-

-

-

-

-

-

55,594

198,906

254,739

(22)

465,155

415,244

12

538,195

Company

For the nine months ended 31 December

Quarter Ended

Nine Months Ended

Year Ended

2021

2020

Variance

2021

2020

Variance

31 March

+ / (-)

+ / (-)

2021

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Rs. '000

Profit for the period

131,170

80,357

63

316,196

120,489

162

315,126

Other Comprehensive Income

Other Comprehensive income not to be reclassified to profit or loss in

Subsequent periods (net of tax)

Actuarial Gain/(Loss) on Defined Benefit Plans

Income tax effect

Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods

Share of Other Comprehensive Income of Equity Accounted Investees

Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods (net of tax)

Actuarial Gain/(Loss) on Defined Benefit Plans

Income tax effect

Net Gain/(Loss) on FVTOCI financial assets

Income tax effect

Other Comprehensive income not to be reclassified to profit or loss in Subsequent periods

Other Comprehensive income to be reclassified to profit or loss in Subsequent periods (net of tax)

Other Comprehensive Income/(Loss) for the period, net of tax

Total Comprehensive Income for the period, net of tax

-

-

-

-

-

-

51,417

-

-

-

-

-

-

(7,198)

-

-

-

-

-

-

44,219

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,320

-

-

-

-

-

-

(1,332)

-

-

-

-

-

-

11,988

-

-

-

-

-

-

11,988

-

-

-

-

-

-

-

-

-

-

-

-

-

56,207

131,170

80,357

63

316,196

120,489

162

371,333

Figures in brackets indicate deductions

The above figures are subject to audit

Kegalle Plantations PLC

2021/22 - Q3

INTERIM FINANCIAL STATEMENTS - KEGALLE PLANTATIONS PLC

STATEMENT OF CHANGES IN EQUITY

Group

For the nine months ended 31 December

Stated

General

Timber

FVTOCI

Retained

Total

Capital

Reserve

Reserve

Reserve

Profit

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Balance as at 31 March 2020

250,000

225,000

33,021

48,588

3,042,515

3,599,124

Profit for the Period

-

-

-

-

415,244

415,244

Other Comprehensive Income

-

-

-

-

-

-

Timber Reserve

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 31 December 2020

250,000

225,000

33,021

48,588

3,457,758

4,014,368

Balance as at 31 March 2021

250,000

225,000

35,583

48,588

3,477,531

4,036,703

Profit for the Period

-

-

-

-

465,155

465,155

Other Comprehensive Income

-

-

-

-

-

-

Timber Reserve

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 31 December 2021

250,000

225,000

35,583

48,588

3,942,686

4,501,857

Company

For the nine months ended 31 December

Stated

General

Timber

FVTOCI

Retained

Total

Capital

Reserve

Reserve

Reserve

Profit

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Balance as at 31 March 2020

250,000

225,000

33,021

48,600

2,070,269

2,626,890

Profit for the Period

-

-

-

-

120,489

120,489

Other Comprehensive Income

-

-

-

-

-

-

Timber Reserve

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 31 December 2020

250,000

225,000

33,021

48,600

2,190,758

2,747,379

Balance as at 31 March 2021

250,000

225,000

35,583

48,600

2,339,040

2,898,223

Profit/(Loss) for the Period

-

-

-

-

316,196

316,196

Other Comprehensive Income

-

-

-

-

-

-

Timber Reserve

-

-

-

-

-

-

Dividend Paid

-

-

-

-

-

-

Balance as at 31 December 2021

250,000

225,000

35,583

48,600

2,655,235

3,214,419

The above figures are subject to audit

Kegalle Plantations PLC

2021/22 - Q3

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Kegalle Plantations plc published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 14:02:01 UTC.