Kotmale : Interim Financial Statements as at 30 June 2022

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED

30 JUNE 2022

Contents

Statement of Profit or Loss and Other Comprehensive Income - Group & Company	01
Statement of Financial Position	02
Statement of Changes in Equity	03
Statement of Cash Flows	04
Explanatory Notes	05
Investor Relations Supplement	06
Notes	08
Corporate Information	IBC

01

Statement of Profit or Loss and

Other Comprehensive Income - Group & Company

				Group			Company
			For the three months ended 30 June		For the three months ended 30 June
			2022	2021		Change	2022	2021		Change
			Rs.' 000	Rs.' 000	%	Rs.' 000	Rs.' 000	%
	Revenue	1,896,177	852,382		122.46	-	-		-
	Cost of sales	(1,451,468)	(674,322)		(115.25)	-	-		-
	Gross profit	444,709	178,060		149.75	-	-		-
	Other income	(3,583)	765		(568.37)	-	-		-
	Distribution expenses	(171,562)	(74,270)		(131.00)	-	-		-
	Administrative expenses	(55,287)	(42,937)		(28.76)	(1,072)	(925)		(15.89)
	Results from operating activities	214,277	61,618		247.75	(1,072)	(925)		(15.89)
	Net finance costs	(30,611)	(11,577)		(164.41)	(2)	(2)		-
	Profit before taxation	183,666	50,041		267.03	(1,074)	(927)		(15.86)
	Deferred & current income tax expense	(34,703)	(11,171)		(210.65)	-	-		-
	Profit for the period	148,963	38,870		283.23	(1,074)	(927)		(15.86)
	Other comprehensive income (OCI)
	items that will	not be reclassified to profit or loss
	Revaluation surplus of land and building	-	-			-	-
	Remeasurement of retirement benefit obligation	-	-			-	-
	Deferred tax attributable to remeasurement of
	retirement benefit obligation	-	-			-	-
	Other comprehensive income for the
	period, net of tax	-	-			-	-
	Total comprehensive income for the period	148,963	38,870			(1,074)	(927)

Kotmale Holdings PLC

Condensed Interim Financial Statements 30 June 2022

Basic Earnings per share (Rs.)	4.74	1.24	(0.03)	(0.03)
Diluted Earnings per share (Rs.)	4.74	1.24	(0.03)	(0.03)

Explanatory notes are given on page 05.

02

Statement of Financial Position

	Group		Company
As at	30 June	31 March	30 June	31 March
	2022	2022	2022	2022
	Rs '000	Rs '000	Rs '000	Rs '000
		(Audited)		(Audited)
Assets
Non-current assets
Property, plant & equipment	1,849,610	1,802,257	-	-
Right of use of asset	28,379	29,742	-	-
Intangible assets	73,233	74,445	-	-
Investments in subsidiaries	-	-	185,400	185,400
Total non-current assets	1,951,222	1,906,444	185,400	185,400
Current assets
Inventories	740,451	550,189	-	-
Trade and other receivables	732,509	487,380	1,354	1,754
Amounts due from subsidiaries	-	-	159,180	159,181
Amounts due from other related parties	290,274	192,604	-	-
Other financial assets	33,519	33,069	-	-
Cash and cash equivalents	77,800	43,192	2,549	3,151
Total current assets	1,874,553	1,306,434	163,083	164,086
Total assets	3,825,775	3,212,878	348,483	349,486
Equity and liabilities
Equity
Stated capital	314,000	314,000	314,000	314,000
Reserves	319,270	319,270	3,054	3,054
Retained earnings	1,156,587	1,060,528	26,330	27,404
Total equity	1,789,857	1,693,798	343,384	344,458
Non-controlling interest	-	-	-	-
Total equity	1,789,857	1,693,798	343,384	344,458
Liabilities
Non-current liabilities
Lease liability	25,694	27,002	-	-
Employee benefits	60,670	52,380	-	-
Deferred tax liability	61,937	58,537	-	-
Total non-current liabilities	148,301	137,919	-	-
Current liabilities
Trade and other payables	765,320	470,712	5,079	5,008
Current tax liabilities	214,369	164,844	-	-
Amounts due to other related parties	77,918	55,735	20	20
Lease liability	5,010	4,870	-	-
Interest bearing loans and borrowings	825,000	685,000	-	-
Total current liabilities	1,887,617	1,381,161	5,099	5,028
Total Liabilities	2,035,918	1,519,080	5,099	5,028
Total equity & liabilities	3,825,775	3,212,878	348,483	349,486
Net Asset Value per Share (Rs.)	57.00	53.94	10.94	10.97

Explanatory notes are given on page 05.

I certify that the financial statements have been prepared in accordance with the requirements of the Companies Act No. 7 of 2007.

Signed

Amali David

(Group Chief Financial Officer)

The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed on behalf of the Board of Directors

Signed	Signed
V R Page	Imtiaz Abdul Wahid
(Chairman)	(Deputy Chairman)
09 August 2022
Colombo

Kotmale Holdings PLC

Condensed Interim Financial Statements 30 June 2022

03

Statement of Changes in Equity

Kotmale Holdings PLC

Condensed Interim Financial Statements 30 June 2022

		Stated	Capital	Revaluation	General	Employee	Retained	Total
		capital	reserve	reserve	reserve	share	earnings	equity
Group					option
						reserve
		Rs.' 000	Rs.' 000	Rs.' 000	Rs.' 000	Rs.' 000	Rs.' 000	Rs.' 000
Balance as at 1 April 2021	314,000	1,785	320,623	1,269	3,262	767,960	1,408,899
Profit for the period	-	-	-	-	-	38,870	38,870
Transfer from revaluation reserve to retained earnings	-	-	-	-	-	-	-
Equity - settled share based tranactions	-	-	-	-	21	-	21
Other comprehensive income		-	-	-	-	-	-	-
Total comprehensive income	-	-	-	-	21	38,870	38,891
Transactions with owners of the company,
recognized directly in equity
Dividends		-	-	-	-	-	-	-
Balance as at 30 June 2021	314,000	1,785	320,623	1,269	3,283	806,830	1,447,790
Balance as at 1 April 2022	314,000	1,785	315,837	1,269	379	1,060,528	1,693,798
Charge relating to Surcharge Tax	-	-	-	-	-	(52,904)	(52,904)
Adjusted balance as at 1 April 2022	314,000	1,785	315,837	1,269	379	1,007,624	1,640,894
Profit for the period	-	-	-	-	-	148,963	148,963
Transfer from revaluation reserve to retained earnings	-	-	-	-	-	-	-
Equity - settled share based tranactions	-	-	-	-	-	-	-
Other comprehensive income	-	-	-	-	-	-	-
Total comprehensive income	-	-	-	-	-	148,963	148,963
Transactions with owners of the company,
recognized directly in equity
Dividends		-	-	-	-	-	-	-
Balance as at 30 June 2022	314,000	1,785	315,837	1,269	379	1,156,587	1,789,857
				Stated	Capital	General	Retained	Total
Company			capital	reserve	reserve	earnings	equity
				Rs.' 000	Rs.' 000	Rs.' 000	Rs.' 000	Rs.' 000
Balance as at 1 April 2021			314,000	1,785	1,269	30,947	348,001
Loss for the period			-	-	-	(927)	(927)
Other comprehensive income			-	-	-	-	-
Total comprehensive income				-	-	-	(927)	(927)
Transactions with owners of the company,
recognized directly in equity
Dividends				-	-	-	-	-
Balance as at 30 June 2021				314,000	1,785	1,269	30,020	347,074
Balance as at 1 April 2022			314,000	1,785	1,269	27,404	344,458
Loss for the period			-	-	-	(1,074)	(1,074)
Other comprehensive income				-	-	-	-	-
Total comprehensive income			-	-	-	(1,074)	(1,074)
Transactions with owners of the company,
recognized directly in equity
Dividends				-	-	-	-	-
Balance as at 30 June 2022			314,000	1,785	1,269	26,330	343,384

Explanatory notes are given on page 05.