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
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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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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.