IN TERMS OF RULE 7.4 OF THE COLOMBO STOCK EXCHANGE
" NIPPON CEMENT "
TOKYO CEMENT COMPANY (LANKA) PLC
INTERIM FINANCIAL STATEMENTS (Unaudited)
2nd QUARTER
FOR THE QUARTER ENDED 30th SEPTEMBER 2022
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CORPORATE INFORMATION | Page 1 of 11 | |||||||||
NAME | OF THE | COMPANY | : | Tokyo Cement Company | (Lanka) PLC | |||||
COMPANY REGISTRATION NO | : | PQ 115 | ||||||||
LEGAL | FORM | : | A public Quoted Company with Limited Liability, Incorporated in | |||||||
Sri Lanka in 1982 and | Listed on 1st | January 1984 | ||||||||
BOARD | OF DIRECTORS | : | ||||||||
Dr Harsha | Cabral PC | Chairman and Non Executive Independent Director | ||||||||
Mr S. R. Gnanam | Managing | Director | ||||||||
Mr A.S.G. | Gnanam | Non Executive Director | ||||||||
Mr E. J. Gnanam | Non Executive Director | |||||||||
Mr R Seevaratnam | Non Executive Independent Director | |||||||||
Mr Ravi Dias | Non Executive Independent Director | |||||||||
Mr W .C Fernando | Director | |||||||||
Mr Asite Talwatte | Non Executive Independent Director | |||||||||
Mr Yaoki | Hashimoto | Non Executive Director & Nominee | Director of Ube | Singapore Holdings | Pte. Ltd | |||||
Dr Indrajit | Coomaraswamy | Non Executive Independent Director | ||||||||
COMPANY SECRETARIES | : | Seccom (Private) Limited, (Company | Secretaries) | |||||||
1E - 2/1, De Fonseka Place, Colombo | 5 | |||||||||
T Phone +9411 2590 176 | Fax +9411 2 581618 | |||||||||
E_Mail | kmaahamed@hotmail.com | |||||||||
HEAD | OFFICE | : | 469 - 1/1 Galle Road, | Colombo 3 | ||||||
T Phone +9411 2 558 | 100 | Fax +9411 2 500 897 | ||||||||
Web Site | www.tokyocement.lk | |||||||||
SUBSIDIARY | COMPANIES | : | Tokyo Cement Power | (Lanka) (Private) Limited | ||||||
: | Tokyo Eastern Cement | Company | (Private) Limited | |||||||
: | Tokyo Super | Aggregate | (Private) Limited | |||||||
: | Tokyo Supermix (Private) | Limited | ||||||||
: | Tokyo Cement Industrial Park (Pvt) Ltd | |||||||||
AUDITORS | : | BDO Partners, (Chartered | Accountants) | |||||||
Chittampalam | A Gardiner | Mawatha, | Colombo 2 | |||||||
COMMITTEE MEMBERS | Audit | Remuneration | Related Party | Nomination | ||||||
Committee | Committee | Committee | Committee | |||||||
Dr Harsha | Cabral PC | _/ | _/ | |||||||
Mr R Seevaratnam | _/ | _/ | _/ | _/ | ||||||
Mr Ravi Dias | _/ | _/ | _/ | _/ | ||||||
Mr Asite | Talwatte | _/ | _/ | |||||||
Mr S R Gnanam | _/ |
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TOKYO CEMENT COMPANY (LANKA) PLC | Page 2 of 11 |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
- FOR THE SIX MONTHS PERIOD ENDED 30TH SEPTEMBER 2022- COMPANY
COMPANY | COMPANY | |||||
For the Six Months Ended 30thSept | For the Quarter Ended 30th Sept | |||||
2022 | 2021 | % Change | 2022 | 2021 | % Change | |
Continuing Operations | Rs ' 000 | Rs ' 000 | +/ (-) | Rs ' 000 | Rs ' 000 | +/ (-) |
Revenue from Contracts with Customers | 20,288,340 | 13,578,032 | 49% | 8,846,078 | 7,075,007 | 25% |
Cost of Sales | (13,192,929) | (12,008,601) | 10% | (5,049,474) | (6,362,206) | -21% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Gross Profit | 7,095,411 | 1,569,431 | 352% | 3,796,604 | 712,801 | 433% |
Other Income | 443,043 | 4,808 | 9115% | 335,551 | 2,128 | 15668% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
7,538,454 | 1,574,239 | 379% | 4,132,155 | 714,929 | 478% | |
Distribution Expenses | (1,911,210) | (1,804,829) | 6% | (1,030,742) | (835,157) | 23% |
Administrative Expenses | (516,279) | (487,459) | 6% | (246,308) | (231,108) | 7% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Profits / (Loss) fromOperation | 5,110,965 | (718,049) | 2,855,105 | (351,336) | ||
Dividend Income | 500,000 | 1,002,000 | -50% | 500,000 | 502,000 | -0% |
Profit on Disposal ofVessel | - | 473,020 | - | - | ||
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Profit Before Interest and Taxation | 5,610,965 | 756,971 | 641% | 3,355,105 | 150,664 | 2127% |
Finance Income | 66,282 | 8,099 | 718% | 35,830 | 4,620 | 676% |
Finance Expenses | (3,008,899) | (250,676) | 1100% | (784,529) | (121,394) | 546% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Profit Before Taxation | 2,668,348 | 514,394 | 419% | 2,606,406 | 33,890 | 7591% |
Income Tax Expenses | (554,009) | (92,235) | 501% | (458,653) | (5,744) | 7885% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
PROFIT for the Period | 2,114,339 | 422,159 | 401% | 2,147,753 | 28,146 | 7531% |
Other Comprehensive Income | - | - | - | - | ||
Total Comprehensive Income for the | ------------------ | ------------------ | ---------------------- | ----------------------- | ||
2,114,339 | 422,159 | 401% | 2,147,753 | 28,146 | 7531% | |
Period | ========= | ========= | =========== | ============ | ||
Basic Earnings Per Share ( Rs) | 5.27 | 1.05 | 5.36 | 0.07 |
8th November | 2022 | Sgd | ||||
COLOMBO | Mr H M Ajith Kumara | |||||
The ab | ove figures a | re provisional and subjec | t to | Audit | General Manager - | Finance |
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TOKYO CEMENT COMPANY (LANKA) PLC | Page 3 of 11 |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | |
- FOR THE SIX MONTHS PERIOD ENDED 30th SEPTEMBER 2022 - GROUP | |
GROUP | GROUP |
For the Six Months Ended 30thSept | For the Quarter Ended 30thSept |
2022 | 2021 | 2022 | 2021 | % Change | |||||||||||
Rs ' 000 | Rs ' 000 | Rs ' 000 | Rs ' 000 | +/ (-) | |||||||||||
Contin | uing Opera | tions | |||||||||||||
Revenu | e from Contr | acts with Customers | 30,317,328 | 22,548,323 | 34% | 14,010,079 | 11,884,766 | 18% | |||||||
Cost of | Sales | (18,603,161) | (18,450,582) | 1% | (7,919,410) | (9,825,635) | -19% | ||||||||
------------------ | ----------------- | ----------------- | |||||||||||||
------------------ | |||||||||||||||
Gross | Profit | 11,714,167 | 4,097,741 | 186% | 6,090,669 | 2,059,131 | 196% | ||||||||
Other | Income | 450,347 | 7,903 | 5598% | 339,163 | 4,008 | 8362% | ||||||||
------------------ | ----------------- | ----------------- | |||||||||||||
------------------ | |||||||||||||||
12,164,514 | 4,105,644 | 196% | 6,429,832 | 2,063,139 | 212% | ||||||||||
Distribution Expenses | (3,099,836) | (3,073,524) | 1% | (1,720,974) | (1,439,380) | 20% | |||||||||
Administrative Expenses | (666,005) | (644,708) | 3% | (317,896) | (311,115) | 2% | |||||||||
------------------ | ----------------- | ----------------- | |||||||||||||
------------------ | |||||||||||||||
Profits | from Operations | 8,398,673 | 387,412 | 2068% | 4,390,962 | 312,644 | 1304% | ||||||||
Profit on Disposal of | Vessel | - | 473,020 | - | - | ||||||||||
------------------ | ----------------- | ----------------- | |||||||||||||
------------------ | |||||||||||||||
Profit | Before Interest | and Taxation | 8,398,673 | 860,432 | 876% | 4,390,962 | 312,644 | 1304% | |||||||
Finance | Income | 171,546 | 18,885 | 808% | 94,452 | 8,656 | 991% | ||||||||
Finance | Expenses | (4,199,356) | (297,993) | 1309% | (792,621) | (148,602) | 433% | ||||||||
------------------ | ----------------- | ----------------- | |||||||||||||
------------------ | |||||||||||||||
Profit | before Taxation | 4,370,863 | 581,324 | 652% | 3,692,793 | 172,698 | 2038% | ||||||||
Income | Tax Expenses | (660,274) | (151,974) | 334% | (517,000) | (41,147) | 1156% | ||||||||
------------------ | ----------------- | ----------------- | |||||||||||||
------------------ | |||||||||||||||
Profit for the Period | 3,710,589 | 429,350 | 764% | 3,175,793 | 131,551 | 2314% | |||||||||
Other Comprehensive Income | - | - | - | - | ||
Total Comprehensive Income for the Period | 3,710,589 | 429,350 | 764% | 3,175,793 | 131,551 | 2314% |
Attributable to Equity of the Parent | 3,708,244 | 423,778 | 775% | 3,174,052 | 127,045 | 2398% |
Non Controlling Interest | 2,345 | 5,572 | -58% | 1,741 | 4,506 | -61% |
Basic Earning Per Share ( Rs) | 9.25 | 1.06 | 7.92 | 0.32 | ||
The above figures are provisional and subject to Audit | ||||||
:: |
TOKYO CEMENT COMPANY (LANKA) PLC | |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | Page 4 of 11 |
AS AT 30th SEPTEMBER 2022 | ||||
Group | Company | |||
30th Sept | 31 st March | 30th Sept | 31 st March | |
2022 | 2022 | 2022 | 2022 | |
ASSETS | Rs ' 000 | Rs ' 000 | Rs ' 000 | Rs ' 000 |
Non Current Assets |
Property, Plant and Equipment | 29,209,503 | 28,555,263 | 14,574,811 | 13,596,876 | |||||||
Right of Use | Assets | 1,353,970 | 1,408,962 | 1,171,209 | 1,197,655 | ||||||
Intangible Assets | 51,503 | 64,254 | 14,341 | 25,346 | |||||||
Investments | in Subsidiaries | - | - | 12,237,177 | 12,237,177 | ||||||
----------------- | ------------------ | ----------------- | ------------------ | ||||||||
Total Non Current Assets | 30,614,976 | 30,028,479 | 27,997,538 | 27,057,054 | |||||||
----------------- | ------------------ | ----------------- | ------------------ | ||||||||
Current Assets | |||||||||||
Inventories | 5,914,021 | 5,459,542 | 3,651,459 | 3,866,427 | |||||||
Trade and Other Receivables | 4,791,139 | 4,005,217 | 2,619,540 | 2,245,512 | |||||||
Advances, Deposits and Prepayments | 2,315,348 | 1,358,634 | 1,665,443 | 941,196 | |||||||
Amount Due | from Subsidiaries | - | - | 560,493 | 547,443 | ||||||
Financial Assets at Amortized Cost | 8,877 | 8,387 | - | - | |||||||
Cash and Cash Equivalents | 869,880 | 6,349,580 | 680,594 | 4,072,997 | |||||||
----------------- | ------------------ | ----------------- | ------------------ | ||||||||
Total Current | Assets | 13,899,265 | 17,181,360 | 9,177,529 | 11,673,575 | ||||||
----------------- | ------------------ | ----------------- | ------------------ | ||||||||
TOTAL ASSETS | 44,514,241 | 47,209,839 | 37,175,067 | 38,730,629 | |||||||
========= | ========= | ========= | ========= | ||||||||
Figures in brackets indicate deductions
Statement of Financial Position of the Company as at 30th September 2022 and the Consolidated Statement of Comprehensive Income for the period then ended are drawn up from the unaudited accounts of the Company, and they provide the information required by the Colombo Stock Exchange
The Board of Directors at its meeting held on 8th November 2022, on the Recommendation of the Audit Committee, approved the accounts for circulation to the members of the Company in terms of Rule 7.4 of the Colombo Stock Exchange
Sgd Mr S R Gnanam Sgd Mr WC Fernando
8th November 2022Managing Director Director
COLOMBO ::
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Tokyo Cement Company (Lanka) plc published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 04:00:00 UTC.