Distilleries of Sri Lanka : Audited Financial Statement 30 September 2022

For the 09 Months ended 30th September 2022

2022

2021

Variance

Rs.'000s

Rs.'000s

%

Unaudited

Unaudited

Gross Revenue

62,434,214

42,501,508

46.9%

Net Revenue

28,074,233

14,695,750

91.0%

Cost of Sales

(13,013,766)

(7,328,949)

77.6%

Gross Profit

15,060,468

7,366,801

104.4%

Other Operating Income

43,219

42,985

0.5%

Distribution Expenses

(470,498)

(305,619)

53.9%

Administrative Expenses

(876,319)

(543,822)

61.1%

Profit from Operations

13,756,869

6,560,345

109.7%

Finance Income

588,327

190,747

208.4%

Finance Cost

(104,002)

(118,699)

-12.4%

Net Finance Income/(Expense)

484,325

72,048

572.2%

Profit before Tax from continued operations

14,241,195

6,632,393

114.7%

Taxation

(5,770,854)

(2,658,482)

117.1%

Profit for the period

8,470,340

3,973,912

113.1%

Items that are or may be reclassified to Profit or Loss

Net Change in fair Value of Available for Sale Financial

(302,400)

234,315

Assets

Total Other Comprehensive Income/(Expense) for the

(302,400)

234,315

Period

-229.1%

Total Comprehensive Income/(Expense) for the Period

8,167,941

4,208,227

Earnings Per Share (Rs.)

Basic Earnings per Share

1.84

0.86

113.1%

For the Quarter ended 30th September 2022

2022

2021

Variance

Rs.'000s

Rs.'000s

%

Unaudited

Unaudited

Gross Revenue

30,035,318

20,781,541

44.5%

Net Revenue

15,427,694

7,885,313

95.7%

Cost of Sales

(7,219,447)

(3,260,773)

121.4%

Gross Profit

8,208,248

4,624,540

77.5%

Other Operating Income

19,252

20,055

-4.0%

Distribution Expenses

(232,510)

(136,810)

70.0%

Administrative Expenses

(388,310)

(263,687)

47.3%

Profit from Operations

7,606,679

4,244,098

79.2%

Finance Income

370,965

51,181

624.8%

Finance Cost

(51,103)

(116,568)

-56.2%

Net Finance Income/(Expense)

319,862

(65,387)

-589.2%

Profit before Tax from continued operations

7,926,542

4,178,711

89.7%

Taxation

(3,196,067)

(1,671,463)

91.2%

Profit for the Period

4,730,475

2,507,249

88.7%

Items that are or may be reclassified to Profit or Loss

Net Change in fair Value of Available for Sale Financial

64,378

378,289

Assets

64,378

378,289

Total Other Comprehensive Income/(Expense) for the

64,378

378,289

Period

-83.0%

Total Comprehensive Income/(Expense) for the Period

4,794,853

2,885,538

Earnings Per Share (Rs.)

Basic Earnings per Share

1.03

0.55

88.7%

AS AT,

Unaudited

Unaudited

Audited

30-Sep-22

30-Sep-21

31-Mar-22

Rs.'000s

Rs.'000s

Rs.'000s

Non Current Assets

Property, Plant and Equipment

4,630,710

5,041,728

4,839,134

Right-of-use Asset

1,225,745

1,293,014

1,398,847

Net Investment in Sub Lease

27,514

-

35,848

Other Non Current Financial Investment

1,309,353

2,212,217

1,611,699

7,193,322

8,546,959

7,885,528

Current Assets

Inventories

6,057,130

4,493,776

3,381,008

Other Receivables

3,809,444

3,928,234

2,107,585

Trade Receivables

2,918,844

2,424,553

4,126,084

Net Investment in Sub Lease

15,943

-

14,462

Amounts Due from Related Companies

626,185

626,772

596,101

Other Current Financial Investment

23,329

60,999

21,214

Cash and Cash Equivalents

5,814,365

1,466,378

7,027,682

19,265,240

13,000,712

17,274,136

Total Assets

26,458,562

21,547,671

25,159,664

EQUITY AND LIABILITIES

Capital and Reserve

Stated Capital

3,000,000

3,000,000

3,000,000

Capital Reserve

1,744,190

2,644,049

2,046,591

Revenue Reserve

1,198,923

4,432,112

1,325,870

5,943,113

10,076,161

6,372,461

Non Current Liabilities

Deferred Tax Liabilities

1,523,149

1,583,059

1,523,150

Employee Benefits

172,555

254,229

175,007

Lease Liability

902,023

1,133,575

1,220,026

2,597,727

2,970,863

2,918,183

Current Liabilities

Trade and Other Payables

8,770,761

3,505,024

7,545,611

Amounts Due to Related Companies

5,067

1,374

24,021

Lease Liability

498,311

321,760

422,880

Taxes Payable

8,403,946

4,388,865

7,669,040

Interest Bearing Loans and Borrowings

-

-

10,000

Bank Overdrafts

239,637

283,624

197,468

17,917,722

8,500,647

15,869,020

Total Equity and Liabilities

26,458,562

21,547,671

25,159,664

Net Assets per Share (Rs.)

1.29

2.19

1.39

sgd/-

sgd/-

D H S Jayawardena

Dr.A.N.Balasuriya

Chairman / Managing Director

Director

14th November 2022

Stated

Revaluation reserve

Capital reserve

General

Available for sale

Retained

Total

capital

reserve

reserve

earnings/(losses

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 1st April 2021

3,000,000

1,754,636

107,882

10,000

537,217

3,671,541

9,081,276

3,000,000

1,754,636

107,882

10,000

537,217

3,671,541

9,081,276

Total Comprehensive Income for the Period

Profit/(Loss) for the Period

-

-

-

-

-

3,973,912

3,973,912

Other Comprehensive Income

Net Change in fair valueof instruments measured at FVO

-

-

-

-

234,315

-

234,315

-

-

-

-

234,315

3,973,912

4,208,227

Total Comprehensive Income for the Period

Dividends paid during the Period

-

-

-

-

-

(3,213,342)

(3,213,342)

Total contributions by and distributions to owners

-

-

-

-

-

(3,213,342)

(3,213,342)

Balance as at 30th September 2021

3,000,000

1,754,636

107,882

10,000

771,532

4,432,110

10,076,161

Balance as at 01st April 2022

3,000,000

1,754,636

107,882

10,000

174,073

1,325,870

6,372,461

Total Comprehensive Income for the Period

Profit for the Period

-

-

-

-

-

8,470,341

8,470,341

Other Comprehensive Income

Net Changes to Reserve

-

-

-

-

(302,401)

-

(302,401)

Surchage Tax

-

-

-

-

-

(3,077,287)

(3,077,287)

-

-

-

-

(302,401)

5,393,053

5,090,653

Dividend Paid

-

-

-

-

-

(5,520,000)

(5,520,000)

Balance as at 30th September 2022

3,000,000

1,754,636

107,882

10,000

(128,328)

1,198,923

5,943,113