Kotmale : Interim Financial Statements as at 30 September 2022

CONDENSED INTERIM FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED

30 SEPTEMBER 2022

Contents

Statement of Profit or Loss and Other Comprehensive Income - Group & Company	01
Statement of Profit or Loss and Other Comprehensive Income - Company	02
Statement of Financial Position	03
Statement of Changes in Equity	04
Statement of Cash Flows	05
Explanatory Notes	06
Investor Relations Supplement	07
Corporate Information	IBC

01

Statement of Profit or Loss and

Other Comprehensive Income - Group

				Group			Group
			For the three months ended 30 September	For the six months ended 30 September
			2022	2021	Change	2022	2021	Change
			Rs.' 000	Rs.' 000	%	Rs.' 000	Rs.' 000	%
	Revenue	2,217,539	908,261	144.15	4,113,716	1,760,643	133.65
	Cost of sales	(1,672,681)	(705,390)	(137.13)	(3,128,356)	(1,379,712)	126.74
	Gross profit	544,858	202,871	168.57	985,360	380,931	158.67
	Other income	584	284	105.63	1,213	1,049	15.63
	Distribution expenses	(211,580)	(92,212)	(129.45)	(383,142)	(166,482)	(130.14)
	Administrative expenses	(62,766)	(43,344)	(44.81)	(118,059)	(86,281)	(36.83)
	Results from operating activities	271,096	67,599	301.04	485,372	129,217	275.63
	Net finance costs	(64,765)	(15,529)	(317.06)	(95,376)	(27,106)	(251.86)
	Profit before taxation	206,331	52,070	296.26	389,996	102,111	281.93
	Deferred & current income tax expense	(46,082)	(9,556)	(382.23)	(80,785)	(20,727)	(289.76)
	Profit for the period	160,249	42,514	276.93	309,211	81,384	279.94
	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	-	-		-	-

Kotmale Holdings PLC

Condensed Interim Financial Statements 30 September 2022

Other comprehensive income for the
period, net of tax	-	-	-	-
Total comprehensive income for the period	160,249	42,514	309,211	81,384
Basic Earnings Per Share (Rs.)	5.10	1.35	9.85	2.59
Diluted Earnings Per Share (Rs.)	5.10	1.35	9.85	2.59

Explanatory notes are given on page 06.

02

Statement of Profit or Loss and

Other Comprehensive Income - Company

				Company			Company
			For the three months ended 30 September	For the six months ended 30 September
			2022	2021	Change	2022	2021	Change
			Rs.' 000	Rs.' 000	%	Rs.' 000	Rs.' 000	%
	Revenue	-	-	-	-	-	-
	Cost of sales	-	-	-	-	-	-
	Gross profit	-	-	-	-	-	-
	Other income	-	-	-	-	-	-
	Distribution expenses	-	-	-	-	-	-
	Administrative expenses	(968)	(1,007)	3.87	(2,040)	(1,932)	(5.59)
	Results from operating activities	(968)	(1,007)	3.87	(2,040)	(1,932)	(5.59)
	Net finance costs	(26)	-	100.00	(28)	(2)	(1,300.00)
	Loss before taxation	(994)	(1,007)	1.29	(2,068)	(1,934)	(6.93)
	Income tax expense	-	-	-	-	-	-
	Loss for the period	(994)	(1,007)	1.29	(2,068)	(1,934)	(6.93)
	Other comprehensive income (OCI)
	items that will	not be reclassified to profit or loss
	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	(994)	(1,007)	(2,068)	(1,934)
Basic Earnings Per Share (Rs.)	(0.03)	(0.03)	(0.07)	(0.06)
Diluted Earnings Per Share (Rs.)	(0.03)	(0.03)	(0.07)	(0.06)

Explanatory notes are given on page 06.

Kotmale Holdings PLC

Condensed Interim Financial Statements 30 September 2022

03

Statement of Financial Position

	Group		Company
As at	30 September	31 March	30 September	31 March
	2022	2022	2022	2022
	Rs '000	Rs '000	Rs '000	Rs '000
		(Audited)		(Audited)
Assets
Non-current assets
Property, plant & equipment	2,144,974	1,802,257	-	-
Right of use of asset	27,016	29,742	-	-
Intangible assets	72,021	74,445	-	-
Investments in subsidiaries	-	-	185,400	185,400
Total non-current assets	2,244,011	1,906,444	185,400	185,400
Current assets
Inventories	902,410	550,189	-	-
Trade and other receivables	642,504	487,380	1,045	1,754
Amounts due from subsidiaries	-	-	158,662	159,181
Amounts due from other related parties	319,435	192,604	-	-
Other financial assets	34,166	33,069	-	-
Cash and cash equivalents	172,966	43,192	2,776	3,151
Total current assets	2,071,481	1,306,434	162,483	164,086
Total assets	4,315,492	3,212,878	347,883	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	1,316,835	1,060,528	25,336	27,404
Total equity	1,950,105	1,693,798	342,390	344,458
Liabilities
Non-current liabilities
Lease liability	24,483	27,002	-	-
Employee benefits	61,564	52,380	-	-
Deferred tax liability	61,937	58,537	-	-
Total non-current liabilities	147,984	137,919	-	-
Current liabilities
Trade and other payables	863,008	470,712	4,835	5,008
Current tax liabilities	196,382	164,844	-	-
Amounts due to other related parties	46,705	55,735	658	20
Lease liability	5,159	4,870	-	-
Interest bearing loans and borrowings	1,060,000	685,000	-	-
Bank overdraft	46,149	-	-	-
Total current liabilities	2,217,403	1,381,161	5,493	5,028
Total Liabilities	2,365,387	1,519,080	5,493	5,028
Total equity & liabilities	4,315,492	3,212,878	347,883	349,486
Net Asset Value per Share (Rs.)	62.11	53.94	10.90	10.97

Explanatory notes are given on page 06.

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)
08 November 2022
Colombo

Kotmale Holdings PLC

Condensed Interim Financial Statements 30 September 2022