KELANI CABLES PLC
Company Reg. No. PQ 117
INTERIM FINANCIAL STATEMENTS
FOR THE 09 MONTHS PERIOD ENDED DECEMBER 31, 2021
KELANI CABLES PLC
INTERIM FINANCIAL STATEMENTS - 31ST DECEMBER 2021
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
COMPANY AND INVESTEE | COMPANY | |||||
For the quarter ended 31 December | 2021 | 2020 | 2021 | 2020 | ||
Rs. | Rs. | Rs. | Rs. | |||
Revenue | 4,329,626,004 | 2,464,872,508 | 4,329,626,004 | 2,464,872,508 | ||
Cost of sales | (3,193,477,649) | (2,194,328,397) | (3,193,477,649) | (2,194,328,397) | ||
Gross profit | 1,136,148,355 | 270,544,111 | 1,136,148,355 | 270,544,111 | ||
Other income | 3,813,083 | 2,322,031 | 3,813,083 | 2,322,031 | ||
Change in fair value of investment property | - | - | - | - | ||
Distribution expenses | (140,454,556) | (124,531,929) | (140,454,556) | (124,531,929) | ||
Administrative expenses | (84,278,743) | (87,662,723) | (84,278,743) | (87,662,723) | ||
Profit from operations | 915,228,139 | 60,671,490 | 915,228,139 | 60,671,490 | ||
Finance income | 17,102,340 | 9,552,629 | 17,102,340 | 9,552,629 | ||
Finance expenses | (30,166,978) | (16,693,931) | (30,166,978) | (16,693,931) | ||
Net finance expenses | (13,064,638) | (7,141,302) | (13,064,638) | (7,141,302) | ||
Share of (loss)/profit on equity accounted | ||||||
investee, net of tax | (605,781) | (521,856) | - | - | ||
Profit before tax | 901,557,720 | 53,008,332 | 902,163,501 | 53,530,188 | ||
Income tax expense | (162,389,430) | (9,635,434) | (162,389,430) | (9,635,434) | ||
Profit for the quarter | 739,168,290 | 43,372,898 | 739,774,071 | 43,894,754 | ||
Other comprehensive income | ||||||
Items that will not be reclassified to profit or loss | ||||||
Actuarial (loss)/gain on defined benefit obligations | - | (180,330) | - | (180,330) | ||
Related tax | - | 32,460 | - | 32,460 | ||
Other comprehensive income , net of tax | - | (147,870) | - | (147,870) | ||
Total comprehensive income for the quarter | 739,168,290 | 43,225,028 | 739,774,071 | 43,746,884 | ||
Earnings per share -Rs. | 33.91 | 1.99 | 33.93 | 2.01 | ||
Market value per share | ||||||
Highest price-Rs. | 550.00 | 100.00 | ||||
Lowest price-Rs. | 129.00 | 89.00 | ||||
Last traded price-Rs. | 489.75 | 116.50 | ||||
Number of shares representing the stated capital (Nos.) | 21,800,000 | 21,800,000 |
KELANI CABLES PLC
INTERIM FINANCIAL STATEMENTS - 31ST DECEMBER 2021
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
COMPANY AND INVESTEE | COMPANY | ||||
For the period ended 31 December | 2021 | 2020 | 2021 | 2020 | |
Rs. | Rs. | Rs. | Rs. | ||
Revenue | 10,989,681,362 | 6,290,704,156 | 10,989,681,362 | 6,290,704,156 | |
Cost of sales | (8,752,585,863) | (5,548,697,480) | (8,752,585,863) | (5,548,697,480) | |
Gross profit | 2,237,095,499 | 742,006,676 | 2,237,095,499 | 742,006,676 | |
Other income | 14,972,814 | 7,159,564 | 14,972,814 | 7,159,564 | |
Distribution expenses | (369,224,006) | (315,815,002) | (369,224,006) | (315,815,002) | |
Administrative expenses | (283,317,935) | (238,725,116) | (283,317,935) | (238,725,116) | |
Profit from operations | 1,599,526,372 | 194,626,122 | 1,599,526,372 | 194,626,122 | |
Finance income | 41,329,638 | 26,206,572 | 41,329,638 | 26,206,572 | |
Finance expenses | (146,058,711) | (77,064,718) | (146,058,711) | (77,064,718) | |
Net finance expenses | (104,729,073) | (50,858,146) | (104,729,073) | (50,858,146) | |
Share of loss on equity accounted | |||||
investee, net of tax | (1,825,731) | (1,591,080) | - | - | |
Profit before tax | 1,492,971,568 | 142,176,896 | 1,494,797,299 | 143,767,976 | |
Income tax expense | (269,058,228) | (25,878,236) | (269,058,228) | (25,878,236) | |
Profit for the period | 1,223,913,340 | 116,298,660 | 1,225,739,071 | 117,889,740 | |
Other comprehensive income | |||||
Items that will not be reclassified to profit or loss | |||||
Actuarial (loss)/gain on defined benefit obligations | - | (517,620) | - | (517,620) | |
Related tax | - | 93,172 | - | 93,172 | |
Other comprehensive income, net of tax | - | (424,448) | - | (424,448) | |
Total comprehensive income for the period | 1,223,913,340 | 115,874,212 | 1,225,739,071 | 117,465,292 | |
Earnings per share -Rs. | 56.14 | 5.33 | 56.23 | 5.41 | |
Market value per share | |||||
Highest price-Rs. | 550.00 | 120.10 | |||
Lowest price-Rs. | 110.25 | 50.00 | |||
Last traded price-Rs. | 489.75 | 116.50 | |||
Number of shares representing the stated capital | 21,800,000 | 21,800,000 |
KELANI CABLES PLC
INTERIM FINANCIAL STATEMENTS - 31ST DECEMBER 2021
STATEMENT OF FINANCIAL POSITION
COMPANY & INVESTEE | COMPANY | ||||||
As at 31 December | As at 31 March | As at 31 December | As at 31 March | ||||
2021 | 2021 | 2021 | 2021 | ||||
Rs. | Rs. | Rs. | Rs. | ||||
ASSETS | |||||||
NON CURRENT ASSETS | |||||||
Property, plant and equipment | 1,171,795,581 | 1,009,006,175 | 1,171,795,581 | 1,009,006,175 | |||
Intangible assets | 1,628,957 | 6,825,088 | 1,628,957 | 6,825,088 | |||
Investment property | 650,500,000 | 650,500,000 | 650,500,000 | 650,500,000 | |||
Right-of-use assets | 3,348,474 | 4,018,166 | 3,348,474 | 4,018,166 | |||
Investment in equity accounted investee | 71,629,353 | 73,455,084 | 51,200,000 | 51,200,000 | |||
1,898,902,365 | 1,743,804,513 | 1,878,473,012 | 1,721,549,429 | ||||
CURRENT ASSETS | |||||||
Inventories | 2,071,108,313 | 2,227,972,407 | 2,071,108,313 | 2,227,972,407 | |||
Trade and other receivables | 2,554,390,039 | 2,981,195,149 | 2,554,390,039 | 2,981,195,149 | |||
Amount due from related companies | 43,713,589 | 224,294 | 43,713,589 | 224,294 | |||
Value added tax recoverable | 753,600,991 | 743,686,739 | 753,600,991 | 743,686,739 | |||
Deposits and prepayments | 15,662,654 | 15,345,296 | 15,662,654 | 15,345,296 | |||
Cash and cash equivalents | 2,044,416,067 | 924,789,700 | 2,044,416,067 | 924,789,700 | |||
7,482,891,653 | 6,893,213,585 | 7,482,891,653 | 6,893,213,585 | ||||
TOTAL ASSETS | 9,381,794,018 | 8,637,018,098 | 9,361,364,665 | 8,614,763,014 | |||
EQUITY AND LIABILITIES | |||||||
EQUITY | |||||||
Stated capital | 218,000,000 | 218,000,000 | 218,000,000 | 218,000,000 | |||
Capital reserves | 592,491,173 | 592,491,173 | 522,620,414 | 522,620,414 | |||
General reserves | 431,136,000 | 431,136,000 | 431,136,000 | 431,136,000 | |||
Retained earnings | 4,534,009,223 | 3,408,195,883 | 4,583,450,629 | 3,455,811,558 | |||
5,775,636,396 | 4,649,823,056 | 5,755,207,043 | 4,627,567,972 | ||||
NON-CURRENT LIABILITIES | |||||||
Employee benefits | 174,316,837 | 160,740,911 | 174,316,837 | 160,740,911 | |||
Deferred taxation | 41,408,240 | 41,408,240 | 41,408,240 | 41,408,240 | |||
Interest bearing borrowings | 278,313,802 | 5,553,380 | 278,313,802 | 5,553,380 | |||
494,038,879 | 207,702,531 | 494,038,879 | 207,702,531 | ||||
CURRENT LIABILITIES | |||||||
Trade and other payables | 1,869,198,374 | 1,960,727,534 | 1,869,198,374 | 1,960,727,534 | |||
Amount due to related companies | 485,682,808 | 600,636,824 | 485,682,808 | 600,636,824 | |||
Current taxation | 484,200,094 | 306,620,053 | 484,200,094 | 306,620,053 | |||
Unclaimed dividends | 12,333,522 | 17,212,429 | 12,333,522 | 17,212,429 | |||
Interest bearing borrowings | 258,571,006 | 803,428,116 | 258,571,006 | 803,428,116 | |||
Bank overdrafts | 2,132,939 | 90,867,555 | 2,132,939 | 90,867,555 | |||
3,112,118,743 | 3,779,492,511 | 3,112,118,743 | 3,779,492,511 | ||||
TOTAL LIABILITIES | 3,606,157,622 | 3,987,195,042 | 3,606,157,622 | 3,987,195,042 | |||
TOTAL EQUITY AND LIABILITIES | 9,381,794,018 | 8,637,018,098 | 9,361,364,665 | 8,614,763,014 | |||
Net asset per share (Rs.) | 264.94 | 213.29 | 264.00 | 212.27 |
These Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Ms. Hemamala Karunasekara
Chief Financial Officer
Mahinda Saranapala | U. G. Madanayake |
Director/Chief Executive Officer | Chairman |
February 2, 2022
Colombo
KELANI CABLES PLC
INTERIM FINANCIAL STATEMENTS - 31ST DECEMBER 2021
STATEMENT OF CHANGES IN EQUITY
COMPANY AND INVESTEE
Stated | Capital | General | Retained | Total | |||||
Capital | Reserves | Reserves | Earnings | ||||||
Rs. | Rs. | Rs. | Rs. | Rs. | |||||
Balance as at 1 April 2020 | 218,000,000 | 404,949,947 | 431,136,000 | 2,908,360,870 | 3,962,446,817 | ||||
Comprehensive income for the period | |||||||||
Profit for the period | 116,298,660 | 116,298,660 | |||||||
Other comprehensive income | - | - | - | (424,448) | (424,448) | ||||
Total comprehensive income | - | - | - | 115,874,212 | 115,874,212 | ||||
Transactions with owners of the Company | |||||||||
Interim dividend | - | - | - | (76,300,000) | (76,300,000) | ||||
Balance as at 31 December 2020 | 218,000,000 | 404,949,947 | 431,136,000 | 2,947,935,082 | 4,002,021,029 | ||||
Balance as at 1 April 2021 | 218,000,000 | 592,491,173 | 431,136,000 | 3,408,195,883 | 4,649,823,056 | ||||
Comprehensive income for the period | |||||||||
Profit for the period | - | - | - | 1,223,913,340 | 1,223,913,340 | ||||
Other comprehensive income | - | - | - | - | - | ||||
Total comprehensive income | |||||||||
- | - | - | 1,223,913,340 | 1,223,913,340 | |||||
Transactions with owners of the Company | |||||||||
Interim Dividend | - | - | - | (98,100,000) | (98,100,000) | ||||
Balance as at 31 December 2021 | 218,000,000 | 592,491,173 | 431,136,000 | 4,534,009,223 | 5,775,636,396 | ||||
- | |||||||||
COMPANY | |||||||||
Stated | Capital | General | Retained | Total | |||||
Capital | Reserves | Reserves | Earnings | ||||||
Rs. | Rs. | Rs. | Rs. | Rs. | |||||
Balance as at 1 April 2020 | 218,000,000 | 353,276,640 | 431,136,000 | 2,956,492,157 | 3,958,904,797 | ||||
Comprehensive income for the period | |||||||||
Profit for the period | - | - | - | 117,889,740 | 117,889,740 | ||||
Other comprehensive income | - | - | - | (424,448) | (424,448) | ||||
Total comprehensive income | - | - | - | 117,465,292 | 117,465,292 | ||||
Transactions with owners of the Company | |||||||||
Interim dividend | - | - | - | (76,300,000) | (76,300,000) | ||||
Balance as at 31 December 2020 | 218,000,000 | 353,276,640 | 431,136,000 | 2,997,657,449 | 4,000,070,089 | ||||
Balance as at 1 April 2021 | 218,000,000 | 522,620,414 | 431,136,000 | 3,455,811,558 | 4,627,567,972 | ||||
Comprehensive income for the period | |||||||||
Profit for the period | - | - | - | 1,225,739,071 | 1,225,739,071 | ||||
Other comprehensive income | - | - | - | - | - | ||||
Total comprehensive income | |||||||||
- | - | - | 1,225,739,071 | 1,225,739,071 | |||||
Transactions with owners of the Company | |||||||||
Interim dividend | - | - | - | (98,100,000) | (98,100,000) | ||||
Balance as at 31 December 2021 | 218,000,000 | 522,620,414 | 431,136,000 | 4,583,450,629 | 5,755,207,043 | ||||
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Kelani Cables plc published this content on 08 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 February 2022 10:21:01 UTC.