CHEMANEX PLC | ANNUAL REPORT 2021/22

Contents

Corporate Overview

Chemanex at a Glance 2

Financial Highlights 3

Chairman's Review 4

Board of Directors 6

Management Discussion & Analysis 8

Corporate Governance 12

Report of the Audit Committee 17

Report of the Related Party Transactions Review Committee 18

Financial Statements

Annual Report of the Board of Directors on the State of Affairs of Chemanex PLC 20 Board of Directors' Statement on Internal Controls 25

Directors' Responsibility for Financial Reporting 26

Business Director's and Finance Officer's Responsibility Statement 27 Independent Auditors' Report 29

Statement of Profit or Loss and Other Comprehensive Income 32 Statement of Financial Position 33

Statement of Changes In Equity 34

Statement of Cash Flow 36

Notes to the Financial Statements 38

Ten Year Group Performance 88

Group Structure 89

Information to Shareholders and Investors 90

Notice of Meeting 93

Form of Proxy 95

Corporate Information IBC

https://www.chemanex.lk Scan the QR Code with your smart device to view this report online

P SITIVE

REACTIONS

At Chemanex, we believe that one positive reaction can domino a series of positive outcomes. Even as we embraced the most tumultuous challenges of our time, we channelled our positive thinking to deliver value that stands the test of time. This optimism has today positioned us to become a leading player in the manufacture and trade of chemicals and industrial intermediates, catering

to both local and global clients.

Despite facing a volatile economic climate during under review, we navigated them step by step with our foresight, guided by a diligent team whose smart thinking helped us to record remarkable progress on the books. Further, capitalising on our unique industry insights, we overturned obstacles into opportunities that can deliver

long-term returns.

At Chemanex, our formula of progress is guaranteed to win, because we adapt positively and deliver purposefully.

P SITIVE

REACTIONS

About Us

Vision

To be a leading corporate in manufacturing and distributing value-added speciality compounds and intermediates.

Values

  • Daring to Envision and Innovate
  • Commitment towards Excellence
  • One Family Unbroken
  • A Deep-Rooted Culture of Professional Ethics
  • Sustainability as Strength

Chemanex at a Glance

Estate Chemicals

Supply chemicals for rubber estates.

Home and Personal Care

Supply additives to manufacture hair /skin/ home care products.

Packaging / Food Additives

Supply starches and related accessories for corrugated industry and additives for the food manufacturing.

Rubber

Supply raw materials for dry rubber product manufacturing industries.

Coatings

Supply colour pigments and additives for paint and ink industries.

About Us | Executive Review & Leadership |

Management Discussion & Analysis

|

Corporate Governance

|

Financial Information

Financial Highlights

Year ended 31st March

Company

Group

2022

2021

Change %

2022

2021

Change %

Earnings Highlights & Ratios

Revenue

Rs.'000s

639,680

441,401

44.92

639,680

441,401

44.92

Profit before Tax

Rs.'000s

129,720

60,605

114.04

127,803

34,621

269.15

Taxation

Rs.'000s

30,446

15,473

96.77

30,446

15,473

96.77

Profit attributable to Equity Holders

Rs.'000s

99,274

45,132

119.96

111,826

23,526

375.33

Total Comprehensive Income for the Rs.'000s

89,918

739,089

(87.83)

101,898

718,104

(85.81)

year

Dividends

Rs.'000s

15,707

31,415

(50.00)

15,707

31,415

(50.00)

Earnings per Share

Rs.

6.32

2.87

120.21

7.12

1.50

374.67

Dividend Cover

No. of Times

6.32

1.44

338.89

7.12

0.75

849.33

Return on Shareholder's Equity

%

4.04

1.90

112.63

4.42

0.96

360.42

Pre-tax Return on Shareholder's

%

5.28

2.55

107.06

5.06

1.41

258.87

Equity

Return on Assets

%

3.65

1.78

105.06

4.11

0.93

341.94

Interest Cover

No. of Times

10.72

6.47

65.69

11.05

8.20

34.76

Working Capital Cycle

days

164

170

(3.39)

164

170

(3.46)

Balance Sheet Highlights & Ratios

Total Assets

Rs.'000s

2,720,329

2,542,235

7.01

2,720,891

2,530,948

7.50

Total Debts

Rs.'000s

132,438

45,129

193.47

132,438

45,129

193.47

Shareholder's Funds

Rs.'000s

2,455,000

2,380,789

3.12

2,527,919

2,456,633

2.90

No. of Shares in Issue

000s

15,707

15,707

-

15,707

15,707

-

Net Assets per Share

Rs.

156.30

151.57

3.12

160.94

156.40

2.90

Debt/Equity

%

5.39

1.90

183.68

5.24

1.85

183.24

Debt/Total Assets

%

4.87

1.78

173.60

4.87

1.78

173.60

Current Ratio

No. of Times

9.35

18.26

(48.80)

12.72

41.94

(69.67)

Market/Shareholder Information

Market Price per Share

Rs.

74.80

76.90

(2.73)

74.80

76.90

(2.73)

Market Capitalisation

Rs.'000s

1,174,907

1,207,892

(2.73)

1,174,907

1,207,892

(2.73)

Price Earnings Ratio

No. of Times

11.84

26.79

(55.80)

10.51

51.27

(79.50)

Dividend per Share

Rs.

1.00

2.00

(50.00)

1.00

2.00

(50.00)

Dividend Payout

%

15.82

69.69

(77.30)

14.05

133.53

(89.48)

Dividend Yield

%

1.34

2.60

(48.60)

1.34

2.60

(48.60)

ROCE

%

5.64

2.26

149.56

5.65

2.90

94.83

Annual Report 2021/223

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Disclaimer

Chemanex plc published this content on 03 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 June 2022 13:51:02 UTC.