Tokyo Cement Lanka : Quarterly Financial Report as of 31-12-2021

IN TERMS OF RULE 7.4 OF THE COLOMBO STOCK EXCHANGE

" NIPPON CEMENT "

TOKYO CEMENT COMPANY (LANKA) PLC

INTERIM FINANCIAL STATEMENTS(Unaudited)

3rd QUARTER

FOR THE NINE MONTHS PERIOD ENDED 31st DECEMBER 2021

::

CORPORATE INFORMATION

Page 1 of 12

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 -

Appointed on 1st April 2021

Dr Indrajit

Coomaraswamy

Non Executive Independent Director

COMPANY SECRETARIES

:

Seccom (Private) Limited, (Company

Secretaries)

1E - 2/1, De Fonseka Place, Colombo

5

T Phone [phone]

Fax

2 581618

E_Mail

[e-mail]

HEAD

OFFICE

:

469 - 1/1 Galle Road,

Colombo 3

T Phone [phone]

Fax

2500 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

AUDITORS

:

BDO Partners, (Chartered

Accountants)

Chittambalam

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

_/

::

TOKYO CEMENT COMPANY (LANKA) PLC

Page 2 of 12

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - FOR THE NINE MONTHS PERIOD ENDED 31st DECEMBER2021 - COMPANY

		COMPANY			COMPANY
	For the Nine Months Ended 31st December	For the Quarter Ended 31st December
	2021	2020	% Change	2021	2020	% Change
			+/ (-)			+/ (-)
Continuing Operations	Rs ' 000	Rs ' 000		Rs ' 000	Rs ' 000
Revenue from Contracts with Customers	21,918,219	15,255,544	44%	8,340,187	6,067,353	37%
Cost of Sales	(18,471,403)	(11,807,500)	56%	(6,462,802)	(4,831,595)	34%
	------------------	------------------		----------------	----------------
Gross Profit	3,446,816	3,448,044	-0%	1,877,385	1,235,758	52%
Other Income	12,838	7,942	62%	8,030	1,372	485%
	------------------	------------------		----------------	----------------
	3,459,654	3,455,986	0%	1,885,415	1,237,130	52%
Distribution Expenses	(2,444,479)	(1,734,926)	41%	(639,650)	(753,987)	-15%
Administrative Expenses	(738,590)	(693,898)	6%	(251,131)	(258,029)	-3%
	------------------	------------------		----------------	----------------
Profits from Operations	276,585	1,027,162	-73%	994,634	225,114	342%
Profit on Disposal of Vessel	473,020	-	100 %	-	-
Dividend Income	1,505,000	900,000	67%	503,000	300,000	68%
	------------------	------------------		----------------	----------------
Profit before Interest and Taxation	2,254,605	1,927,162	17%	1,497,634	525,114	185%
Finance Income	19,756	12,681	56%	11,657	4,453	162%
Finance Expenses	(408,511)	(784,217)	-48%	(157,835)	(174,173)	-9%
	------------------	------------------		----------------	----------------
Profit before Taxation	1,865,850	1,155,626	61%	1,351,456	355,394	280%
Income Tax Expenses	(395,549)	(105,500)	275%	(303,314)	(6,500)	4566%
	------------------	------------------		----------------	----------------
Profit for the Period	1,470,301	1,050,126	40%	1,048,142	348,894	200%
Other Comprehensive Income	-	-		-	-
Total Comprehensive Income for the Period	------------------	------------------		----------------	----------------
1,470,301	1,050,126	40%	1,048,142	348,894	200%
	=========	=========		=========	=========
Basic Earnings Per Share ( Rs)	3.67	2.62		2.61	0.87
The above figures are provisional and subject to Audit

	Sgd
8th February 2022	Mr H M Ajith Kumara
COLOMBO	General Manager	- Finance
::

TOKYO CEMENT COMPANY (LANKA) PLC

Page 3 of 12

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

- FOR THE NINE MONTHS ENDED 31st DECEMBER 2021 - GROUP

			GROUP			GROUP
		For the Nine Months Ended 31stDecember	For the Quarter Ended 31st December
		2021	2020	% Change	2021	2020	% Change
				+/ (-)			+/ (-)
Continuing Operations	Rs ' 000	Rs ' 000		Rs ' 000	Rs ' 000
Revenue from Contracts with Customers	36,319,474	30,589,850	19%	13,771,151	11,456,233	20%
Cost of Sales	(28,745,089)	(21,106,693)	36%	(10,294,507)	(8,057,086)	28%
		------------------	------------------		------------------	------------------
Gross Profit	7,574,385	9,483,157	-20%	3,476,644	3,399,147	2%
Other Income	17,896	11,180	60%	9,993	3,106	222%
		------------------	------------------		------------------	------------------
		7,592,281	9,494,337	-20%	3,486,637	3,402,253	2%
Distribution Expenses	(4,159,939)	(3,203,694)	30%	(1,086,415)	(1,427,305)	-24%
Administrative Expenses	(951,768)	(894,245)	6%	(307,060)	(335,630)	-9%
		------------------	------------------		------------------	------------------
Profits from Operations	2,480,574	5,396,398	-54%	2,093,162	1,639,318	28%
Profit on Disposalof Vessel	473,020	-	100 %	-	-
		------------------	--------------------		--------------------	-------------------
		2,953,594	5,396,398	-45%	2,093,162	1,639,318	28%
Finance Income	40,620	22,916	77%	21,735	10,357	110%
Finance Expenses	(427,034)	(944,866)	-55%	(129,041)	(207,951)	-38%
		------------------	------------------		------------------	------------------
Profit	before Taxation	2,567,180	4,474,448	-43%	1,985,856	1,441,724	38%
Income Tax Expenses	(489,210)	(385,914)	27%	(337,236)	(138,517)	143%
		------------------	------------------		------------------	------------------
Profit for the Period	2,077,970	4,088,534	-49%	1,648,620	1,303,207	27%
Other ComprehensiveIncome	-	-		-	-
Total Comprehensive Income for the Period	2,077,970	4,088,534	-49%	1,648,620	1,303,207	27%
Attributable to Equity of the Parent	2,063,676	4,109,311	-50%	1,639,898	1,310,701	25%
Non Controlling Interest	14,294	(20,777)		8,722	(7,494)

Basic Earning PerShare ( Rs)	5.15	10.25	4.09	3.27
The above figuresare provisional and subject toAudit
::

TOKYO CEMENT COMPANY (LANKA) PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	Page 4 of 12

AS AT 31st DECEMBER 2021
	Group	Company
	As at	As at	As at	As at
	31st Dec	31 st Mar	31st Dec	31 st Mar
	2021	2021	2021	2021
ASSETS	Rs ' 000	Rs ' 000	Rs ' 000	Rs ' 000
Non Current Assets
Property, Plant and Equipment	28,448,299	28,248,734	13,646,773	13,389,934
Right of Use Assets	1,437,217	1,518,305	1,211,073	1,249,101
Intangible Assets	69,776	75,515	30,222	34,125
Investments in Subsidiaries	-	-	12,237,177	12,237,177
	---------------	----------------	---------------	----------------
Total Non Current Assets	29,955,292	29,842,554	27,125,245	26,910,337
	---------------	----------------	---------------	----------------
Current Assets
Inventories	4,260,580	3,239,785	1,657,562	2,245,256
Trade and Other Receivables	4,769,335	4,554,454	2,865,425	2,905,861
Amount Due from Related Parties	-	-	558,815	589,094
Financial Assets at Amortized Cost	8,269	7,988	-	-
Cash and Cash Equivalents	3,356,363	1,489,031	1,639,885	240,976
	---------------	----------------	---------------	----------------
Total Current Assets	12,394,547	9,291,258	6,721,687	5,981,187
	---------------	----------------	---------------	----------------
TOTAL ASSETS	42,349,839	39,133,812	33,846,932	32,891,524
	========	========	========	========

Figures in brackets indicate deductions

Statement of Financial Position of the Company as at 31st December 2021 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 February 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 S R Gnanam Sgd Mr W C Fernando

8th February

2022

Man

aging Director

Director

COLOMBO

::