HARISCHANDRA MILLS PLC.
INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 30 JUNE 2022
HARISCHANDRA MILLS PLC
INTERIM FINANCIAL STATEMENTS
For the quarter ended 30 June 2022
CORPORATE INFORMATION | |
Legal form | Subsidiary company |
A Public Company with Limited Liability | Harischandra Mills (Distributors) Limited |
incorporated in Sri Lanka, whose shares | (wholly owned) incorporated in Sri Lanka |
are Listed in the Colombo Stock Exchange. | |
Registration No. | Board of Directors |
PQ 225 | Bastiansz M.A. (Chairman) |
Samarasinghe S.N. (Managing Director) | |
Date of incorporation | De Silva G.S.V. |
9th January 1953 | De Silva M.P. (Mrs.) |
Bandaranayake T.K. | |
Registered office | Jayasundara S. A S. |
No. 11, C.A.Harischandra Mawatha, Matara. | Samarasinghe R.K (Mrs.) |
Secretaries | Remuneration Committee |
Corporate Services (Pvt) Limited. | Bastiansz M.A. (Chairman) |
216, De Saram Place, | Jayasundara S. A S. |
Colombo 10 | |
Auditors | Audit Committee |
KPMG | Bandaranayake T.K. (Chairman) |
(Chartered Accountants) | Jayasundara S. A S. |
32A, Sir Mohamed Macan Markar Mawatha, | |
Colombo 3. | |
Internal auditors | Related Party Transactions Review |
Ernst & Young | Committee |
(Chartered Accountants) | Bastiansz M.A. (Chairman) |
201, De Saram Place, | Jayasundara S. A S. |
Colombo 10 | Samarasinghe S.N. |
Legal advisors | |
F J & G De Saram | |
Attorneys - at - Law | |
216, De Saram Place, | |
Colombo 10 |
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HARISCHANDRA MILLS PLC
INTERIM FINANCIAL STATEMENTS
For the quarter ended 30 June 2022
INCOME STATEMENT | Group | Company | |||||||||||
For the year | For the year | ||||||||||||
ended 31st | ended 31st | ||||||||||||
March | March | ||||||||||||
Quarter ended 30 June | 2022 | 2021 | VARIANCE | 2022 | 2022 | 2021 | VARIANCE | 2022 | |||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | Rs. '000 | % | Rs. '000 | ||||||
Revenue | 1,509,211 | 958,390 | 57 | 4,581,110 | 1,509,211 | 958,390 | 57 | 4,581,110 | |||||
Cost of sales | (1,313,539) | (769,729) | 71 | (3,742,676) | (1,313,539) | (769,729) | 71 | (3,742,676) | |||||
Gross profit | 195,672 | 188,661 | 4 | 838,434 | 195,672 | 188,661 | 4 | 838,434 | |||||
13% | 20% | ||||||||||||
Other income | 3,676 | 2,253 | 63 | 17,870 | 3,676 | 2,253 | 63 | 17,870 | |||||
199,348 | 190,914 | 4 | 856,304 | 199,348 | 190,914 | 4 | 856,304 | ||||||
Administrative expenses | (89,834) | (84,711) | 6 | (324,594) | (89,821) | (84,638) | 6 | (324,299) | |||||
Selling & distribution expenses | (75,230) | (55,757) | 35 | (269,899) | (75,230) | (55,757) | 35 | (269,899) | |||||
Result from operating activities | 34,284 | 50,446 | (32) | 261,811 | 34,297 | 50,519 | (32) | 262,106 | |||||
Finance income | 9,282 | 3,103 | 199 | 9,379 | 9,282 | 3,103 | 199 | 9,379 | |||||
Finance expenses | (1,396) | (3,180) | (56) | (9,361) | (1,396) | (3,180) | (56) | (9,361) | |||||
Net finance income/(expenses) | 7,886 | (77) | (10,342) | 18 | 7,886 | (77) | (10,342) | 18 | |||||
Profit from ordinary activities before tax | 42,170 | 50,369 | (16) | 261,829 | 42,183 | 50,442 | (16) | 262,124 | |||||
Income tax expenses | (7,591) | (9,066) | (16) | (52,407) | (7,593) | (9,080) | (16) | (52,407) | |||||
Profit after taxation attributable to shareholders | of | ||||||||||||
Harischandra Mills PLC | 34,579 | 41,303 | (16) | 209,422 | 34,590 | 41,362 | (16) | 209,717 | |||||
Rs. | Rs. | Rs. | Rs. | Rs. | Rs. | ||||||||
Basic Earnings per Share | 18.01 | 21.52 | 109.10 | 18.02 | 21.55 | 109.25 |
Notes :
The above figures are provisional and subject to audit.
Figures in brackets indicate deductions.
All values are in Rs.'000, unless otherwise stated.
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HARISCHANDRA MILLS PLC
INTERIM FINANCIAL STATEMENTS
For the quarter ended 30 June 2022
STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||
Group | Company | ||||||||||||
For the year | For the year | ||||||||||||
ended 31st | ended 31st | ||||||||||||
March | March | ||||||||||||
For the quarter ended 30 June | 2022 | 2021 | VARIANCE | 2022 | 2022 | 2021 | VARIANCE | 2022 | |||||
Rs. '000 | Rs. '000 | % | Rs. '000 | Rs. '000 | Rs. '000 | % | Rs. '000 | ||||||
Profit for the period | 34,579 | 41,303 | (16) | 209,422 | 34,590 | 41,362 | (16) | 209,717 | |||||
Other comprehensive income will not be reclassified to income | |||||||||||||
statement in subsequent periods | |||||||||||||
Re- measurement of employee benefit obligation | - | - | - | 18,576 | - | - | - | 18,576 | |||||
Related Tax | - | - | - | (3,344) | - | - | - | (3,344) | |||||
Other comprehensive income for the period | - | - | - | 15,232 | - | - | 15,232 | ||||||
Total comprehensive income for the period | 34,579 | 41,303 | (16) | 224,654 | 34,590 | 41,362 | (16) | 224,949 | |||||
Notes :
The above figures are provisional and subject to audit.
Figures in brackets indicate deductions.
All values are in Rs.'000, unless otherwise stated.
`
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HARISCHANDRA MILLS PLC
INTERIM FINANCIAL STATEMENTS
For the quarter ended 30 June 2022
STATEMENT OF FINANCIAL POSITION | ||||||||||
GROUP | COMPANY | |||||||||
For the year | For the year | |||||||||
ended 31st | ended 31st | |||||||||
March | March | |||||||||
As at | As at | As at | As at | As at | As at | |||||
30.06.2022 | 30.06.2021 | 31.03.2022 | 30.06.2022 | 30.06.2021 | 31.03.2022 | |||||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |||||
ASSETS | ||||||||||
Non-current assets | ||||||||||
Property, plant & equipment | 832,429 | 908,497 | 851,256 | 832,429 | 908,497 | 851,256 | ||||
Intangible assets | 1,266 | 789 | 1,387 | 1,266 | 789 | 1,387 | ||||
Right of use asset | 45,742 | 60,577 | 49,451 | 45,742 | 60,577 | 49,451 | ||||
Total non-current assets | 879,437 | 969,863 | 902,094 | 879,437 | 969,863 | 902,094 | ||||
Current assets | ||||||||||
Inventories | 561,279 | 458,544 | 445,331 | 561,279 | 458,544 | 445,331 | ||||
Trade and other receivables | 531,588 | 503,257 | 501,092 | 531,588 | 503,257 | 501,092 | ||||
Tax Receivable | 3,498 | - | 902 | - | ||||||
Investment in unit trusts | 6,143 | 7,002 | 6,798 | 6,143 | 7,002 | 6,798 | ||||
Short term deposits | 317,861 | 226,253 | 252,422 | 317,861 | 226,253 | 252,422 | ||||
Cash & bank balances | 57,036 | 26,635 | 183,080 | 56,668 | 26,017 | 182,697 | ||||
Total current assets | 1,473,907 | 1,225,189 | 1,388,723 | 1,473,539 | 1,221,975 | 1,388,340 | ||||
Total assets | 2,353,344 | 2,195,052 | 2,290,817 | 2,352,976 | 2,191,838 | 2,290,434 | ||||
EQUITY & LIABILITIES | ||||||||||
Equity | ||||||||||
Stated capital | 105,578 | 105,578 | 105,578 | 105,578 | 105,578 | 105,578 | ||||
Other capital reserves | 7,011 | 7,011 | 7,011 | 11 | 11 | 11 | ||||
General Reserve | 12,841 | 12,841 | 12,841 | 12,841 | 12,841 | 12,841 | ||||
Retained earnings | 1,468,730 | 1,358,790 | 1,482,141 | 1,472,945 | 1,362,759 | 1,486,345 | ||||
Total equity attributable to equity holders of the company | 1,594,160 | 1,484,220 | 1,607,571 | 1,591,375 | 1,481,189 | 1,604,775 | ||||
Non Current Liabilities | ||||||||||
Deferred liabilities | 176,217 | 212,755 | 177,027 | 176,217 | 212,755 | 177,027 | ||||
Total non current liabilities | 176,217 | 212,755 | 177,027 | 176,217 | 212,755 | 177,027 | ||||
Current Liabilities | ||||||||||
Trade and other payables | 510,601 | 368,918 | 400,283 | 510,417 | 368,735 | 400,099 | ||||
Provision for taxation | 2,663 | - | 8,073 | 5,264 | - | 10,669 | ||||
Bank overdraft | 69,703 | 129,159 | 97,863 | 69,703 | 129,159 | 97,863 | ||||
Total current liabilities | 582,966 | 498,077 | 506,219 | 585,384 | 497,894 | 508,631 | ||||
Total liabilities | 759,183 | 710,832 | 683,246 | 761,601 | 710,649 | 685,658 | ||||
Total equity & liabilities | 2,353,344 | 2,195,052 | 2,290,817 | 2,352,976 | 2,191,838 | 2,290,433 | ||||
Rs. | Rs. | Rs. | Rs. | Rs. | Rs. | |||||
Net Assets Value Per Share | 830.46 | 773.19 | 837.45 | 829.01 | 771.61 | 835.99 | ||||
Notes: | ||||||||||
The above figures are provisional and subject to audit. | ||||||||||
All values are in Rs.'000, unless otherwise stated. | ||||||||||
I certify that these Financial Statements comply with the requirements of the Companies Act No.07 of 2007. | ||||||||||
Sgd. | ||||||||||
………………………………….. | ||||||||||
C.T. Gajanayake - Chief Financial Officer | ||||||||||
Signed for and on behalf of the Board, | ||||||||||
Sgd. | Sgd. | |||||||||
………………………………… | ………………………………. | |||||||||
S.N.Samarasinghe | G.S.V.De Silva | |||||||||
Managing Director | Director | |||||||||
05 August 2022 |
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Harischandra Mills plc published this content on 12 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2022 03:08:02 UTC.