Bogala Graphite Lanka : Interim Financials - 30th June 2022

Bogala Graphite Lanka PLC

Interim Financial Statements

For the Period ended 30th June 2022

BOGALA GRAPHITE LANKA PLC

Statement of Profit or Loss and Other Comprehensive Income

	Quarter ended 30th June	Six Months ended 30th June
For the					Change
2022	2021	2022	2021
%
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Revenue	448,431	314,887	760,673	564,097	35
Cost of Sales	(206,785)	(153,872)	(360,914)	(281,259)	28
Gross Profit	241,646	161,015	399,759	282,838	41
Other Income	436	242	818	825	(1)
Net Exchange Gain	106,550	3,893	276,965	12,785	> 100
Administrative Expenses	(27,500)	(23,914)	(56,288)	(52,791)	(7)
Selling and Distribution Expenses	(64,934)	(44,076)	(113,026)	(79,437)	(42)
Profit from Operation	256,198	97,160	508,228	164,220	> 100
Finance Income	3,912	1,203	5,866	2,114	> 100
Finance Expenses	(210)	(457)	(436)	(1,063)	59
Profit Before Tax	259,900	97,906	513,658	165,271	> 100
Income Tax Expenses	(27,950)	(13,930)	(50,714)	(23,584)	> 100
Profit for the period	231,950	83,976	462,944	141,687	> 100
Other Comprehensive Income
Re-measurement of defined benefit liability	-	-	-	-	-
- Related tax	-	-	-	-	-
Other comprehensive income net of tax	-	-	-	-	-
Total Comprehensive Income	231,950	83,976	462,944	141,687	> 100
Basic earnings per share (Rs.)	2.45	0.89	4.89	1.50	> 100

The above figures are subject to audit.

Bogala Graphite Lanka PLC| Interim Financial Statements for Quarter ended 30th June 2022

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BOGALA GRAPHITE LANKA PLC

Statement of Financial Position

		30th June 2022		31st December 2021
As at	Rs.'000		Rs'.000
ASSETS
Property, plant and equipment		299,103		280,022
Intangible assets		116,364		97,957
Consumable biological assets		6,639		6,639
Other financial assets		2,085		3,999
Non-Current Assets		424,191		388,617
Inventories	191,523	117,229
Trade and Other Receivables		290,833		163,763
Advances and Prepayments		27,424		6,955
Other Financial Assets		6,601		5,768
Cash and Cash Equivalents		647,438		390,531
Current Assets		1,163,819		684,246
Total Assets	1,588,010	1,072,863
EQUITY
Stated Capital		102,074		102,074
Reserves		10,231		10,231
Retained Earnings		1,213,330		750,386
Total Equity		1,325,635		862,691
Liabilities
Loans and Borrowings		3,187		4,293
Provision for restoration		1,333		1,266
Employee Benefits		78,177		74,255
Deferred Tax Liabilities		8,489		7,694
Non-Current Liabilities	91,186	87,508
Trade and Other Payables		99,788		86,860
Current Taxation		63,950		27,580
Loans and Borrowings		7,451		8,224
Current Liabilities		171,189		122,664
Total Liabilities		262,375		210,172
Total Equity and Liabilities		1,588,010		1,072,863
Net Assets Per Share (Rs.)	14.01	9.12

These financial statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007.

.………………………………………………….

Sugath Amarasinghe	53
Finance Director

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

…………………………………………	…………………………………….
Director	Director
2nd August 2022

The above figures are subject to audit.

Bogala Graphite Lanka PLC| Interim Financial Statements for Quarter ended 30th June 2022

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BOGALA GRAPHITE LANKA PLC

STATEMENT OF CHANGES IN EQUITY

	Stated		Revaluation			Retained		Total Equity
For the period ended 30th June 2022	Capital		Reserve			Earnings
				Rs.'000
	Rs.'000		Rs.'000			Rs.'000
Balance as at 1st January 2021	102,074		10,231		513,301		625,606
Profit for the period	-		-		141,687		141,687
Other comprehensive income, net of income tax	-		-		-		-
Total comprehensive income for the period	-		-		141,687		141,687
Transactions with owners of the Company
Contributions and Distributions	-		-		-		-
Total transactions with owners of the Company	-		-		-		-
Balance as at 30th June 2021	102,074		10,231		654,988		767,293
Balance as at 1st January 2022	102,074		10,231		750,386		862,691
Profit for the period	-		-		462,944		462,944
Other comprehensive income, net of income tax	-		-		-		-
Total comprehensive income for the period	-		-		462,944		462,944
Transactions with owners of the Company
Contributions and Distributions	-		-		-		-
Total transactions with owners of the Company	-		-		-		-
Balance as at 30th June 2022	102,074		10,231			1,213,330		1,325,635

The above figures are subject to audit.

Bogala Graphite Lanka PLC| Interim Financial Statements for Quarter ended 30th June 2022

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BOGALA GRAPHITE LANKA PLC

STATEMENT OF CASH FLOW

Period Ended 30th June 2022	2022	2021
Rs.'000		Rs.'000
Cash Flows Operating Activities
Profit Before Taxation		513,658	165,270
Adjustments for
	Depreciation on Property Plant & Equipments		18,655	21,373
	Amortization of Intangible Assets			66
	Effect on exchange gain / loss on borrowings		-	536
	Interest Income		(5,866)	(2,114)
	Interest expenses		436	1,063
	Provision for Employee Benefits		8,850	3,186
Operating Profit before Working Capital Changes		535,733	189,380
Change in Working Capital
	Inventories		(74,294)	(1,994)
	Trade and Other Receivables		(127,070)	(44,419)
	Advance and prepayments		(20,469)	(9,506)
	Other Financial Assets		1,082	3,213
	Trade and Other Payables		12,928	23,690
Cash Generated from Operating Activities		327,910	160,364
	Current Tax Paid		(13,550)	(14,459)
	Interest Paid		0	(522)
	Gratuity Paid		(4,928)	(509)
Net Cash Generated From Operating Activities		309,432	144,874
Cash Flows From Investing Activities
	Interest Received		5,866	2,114
	Acquisition of Property, Plant and Equipment		(40,322)	(7,516)
	Acquisition of Intangible Assets		(16,720)	(13,112)
Net Cash Used In Investing Activities		(51,178)	(18,514)
Cash Flows From Financing Activities
	Repayment of Borrowings		-	(20,192)
	Repayment of Lease Liabilities		(1,347)	(1,347)
Net Cash Used in Financing Activities	(1,347)		(21,539)
Net Increase/(Decrease) in Cash and Cash Equivalents		256,907	104,821
Cash and Cash Equivalents at 1st January		390,531	158,369
Cash and Cash Equivalents at 30th June	647,438	263,190

The above figures are subject to audit.

Bogala Graphite Lanka PLC| Interim Financial Statements for Quarter ended 30th June 2022

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