DISTILLERIES COMPANY OF SRI LANKA PLC DISTILLERIES COMPANY OF SRI LANKA PLC
INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED
30th June 2022
DISTILLERIES COMPANY OF SRI LANKA PLC
STATEMENTS OF COMPREHENSIVE INCOME
For the Quarter ended 30th June 2022 | 2022 | 2021 |
Rs.'000s | Rs.'000s | |
Unaudited | Unaudited | |
Gross Revenue | 32,398,896 | 21,719,967 |
Net Revenue | 12,646,539 | 6,810,437 |
Cost of Sales | (5,794,319) | (4,068,176) |
Gross Profit | 6,852,220 | 2,742,261 |
Other Operating Income | 23,967 | 22,930 |
Distribution Expenses | (237,988) | (168,809) |
Administrative Expenses | (488,009) | (280,135) |
Profit from Operations | 6,150,190 | 2,316,248 |
Finance Income | 217,362 | 139,566 |
Finance Cost | (52,899) | (2,131) |
Net Finance Income/(Expense) | 164,463 | 137,435 |
Profit before Tax from continued operations | 6,314,653 | 2,453,683 |
Taxation | (2,574,787) | (987,019) |
Profit after Tax from continued operations for the period | 3,739,866 | 1,466,665 |
Items that are or may be reclassified to Profit or Loss | ||
Net Change in fair Value of Available for Sale Financial Assets | (366,778) | (143,974) |
(366,778) | (143,974) | |
Total Other Comprehensive Income/(Expense) for the Period | (366,778) | (143,974) |
Total Comprehensive Income/(Expense) for the Period | 3,373,087 | 1,322,691 |
Earnings Per Share (Rs.) | ||
Basic Earnings per Share | 0.81 | 0.32 |
DISTILLERIES COMPANY OF SRI LANKA PLC
STATEMENTS OF FINANCIAL POSITION
AS AT, | Unaudited | Unaudited | Unaudited |
30-Jun-22 | 30-Jun-21 | 31-Mar-22 | |
Rs.'000s | Rs.'000s | Rs.'000s | |
Non Current Assets | |||
Property, Plant and Equipment | 4,743,757 | 5,130,729 | 4,839,134 |
Right-of-use Asset | 1,026,063 | 1,470,982 | 1,115,048 |
Other Non Current Financial Investment | 1,414,117 | 1,896,336 | 1,780,901 |
7,183,937 | 8,498,047 | 7,735,083 | |
Current Assets | |||
Inventories | 3,197,772 | 4,801,652 | 2,852,433 |
Other Receivables | 3,209,232 | 2,741,285 | 2,485,591 |
Trade Receivables | 2,309,719 | 2,113,015 | 4,126,084 |
Net Investment in Sub Lease | 46,883 | - | 50,310 |
Amounts Due from Related Companies | 598,856 | 881,008 | 572,079 |
Other Current Financial Investment | 17,449 | 56,327 | 21,214 |
Cash and Cash Equivalents | 6,031,046 | 1,618,767 | 7,027,682 |
15,410,958 | 12,212,053 | 17,135,393 | |
Total Assets | 22,594,895 | 20,710,100 | 24,870,476 |
EQUITY AND LIABILITIES | |||
Capital and Reserve | |||
Stated Capital | 3,000,000 | 3,000,000 | 3,000,000 |
Capital Reserve | 1,867,508 | 2,273,281 | 2,234,287 |
Revenue Reserve | 1,917,248 | 1,689,624 | 1,254,671 |
6,784,756 | 6,962,905 | 6,488,958 | |
Non Current Liabilities | |||
Deferred Tax Liabilities | 1,716,377 | 1,785,178 | 1,723,297 |
Employee Benefits | 173,034 | 257,442 | 175,007 |
Lease Liability | 1,105,165 | 1,655,621 | 1,228,748 |
2,994,576 | 3,698,241 | 3,127,052 | |
Current Liabilities | |||
Trade and Other Payables | 4,431,999 | 4,222,241 | 7,383,363 |
Amounts Due to Related Companies | 11,405 | 1,726 | - |
Taxes Payable | 8,207,583 | 4,877,894 | 7,663,635 |
Interest Bearing Loans and Borrowings | - | - | 10,000 |
Bank Overdrafts | 164,576 | 947,093 | 197,468 |
12,815,563 | 10,048,954 | 15,254,466 | |
Total Equity and Liabilities | 22,594,895 | 20,710,100 | 24,870,476 |
Net Assets per Share (Rs.) | 1.47 | 1.51 | 1.41 |
The above unaudited figures are provisional and subject to audit.
I certify that the Financial Statements have been prepared & presented in compliance with the requirements of Companies Act No. 07 of 2007
sgd/-
N.N.Nagahawatte
Head of Finance
The Directors are responsible for the preparation and presentation of these Financial Statements.
Signed for and on behalf of the board
sgd/- | sgd/- |
C.R Jansz | Dr.A.N.Balasuriya |
Director | Director |
12th August 2022
DISTILLERIES COMPANY OF SRI LANKA PLC STATEMENTS OF CHANGES IN EQUITY
Balance as at 1st April 2021
Total Comprehensive Income for the Period
Profit/(Loss) for the Period
Other Comprehensive Income
Net Change in fair valueof instruments measured at FVOCI
Total Comprehensive Income for the Period Transactions with Owners directly recorded in the Equity
Dividends paid during the Period
Total contributions by and distributions to owners Balance as at 30th June 2021
Balance as at 01st April 2022
Total Comprehensive Income for the Period
Profit for the Period
Other Comprehensive Income
Net Changes to Reserve
Surchage Tax
Dividend Paid
Balance as at 30th June 2022
Stated | Revaluation | Capital reserve | General reserve | Available for sale | Retained | Total |
capital | reserve | reserve | earnings/(losses | |||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 544,737 | 3,442,959 | 8,860,214 |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 544,737 | 3,442,959 | 8,860,214 |
- | - | - | - | - | 1,466,665 | 1,466,665 |
- | - | - | - | (143,974) | - | (143,974) |
- | - | - | - | (143,974) | 1,466,665 | 1,322,691 |
- | - | |||||
- | - | - | - | - | (3,220,000) | (3,220,000) |
- | - | - | - | - | (3,220,000) | (3,220,000) |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 400,763 | 1,689,623 | 6,962,905 |
3,000,000 | 1,754,636 | 107,882 | 10,000 | 361,769 | 1,254,671 | 6,488,958 |
- | - | - | - | - | 3,739,866 | 3,739,866 |
- | - | - | - | (366,778) | - | (366,778) |
- | - | - | - | - | (3,077,288) | (3,077,288) |
- | - | - | - | (366,778) | 662,578 | 295,800 |
- | - | - | - | - | - | - |
3,000,000 | 1,754,636 | 107,882 | 10,000 | (5,009) | 1,917,248 | 6,784,756 |
DISTILLERIES COMPANY OF SRI LANKA PLC
STATEMENTS OF CASH FLOWS
For the period ended 30th June 2022 | 30-Jun-22 | 30-Jun-21 |
Rs.'000 | Rs.'000 | |
Cash Generated from Operations | ||
Profit from operations | 6,314,653 | 2,453,683 |
Adjustments for | ||
Depreciation and Amortization of PPE and Intangible Assets | 123,847 | 119,194 |
Amortization of Right-of-Use Assets | 88,984 | - |
(Gain) /Loss on Change in Fair Value of Financial Assets | 3,773 | 1,859 |
Interest Income | (217,362) | (139,566) |
Dividend Income | (3) | - |
Interest Expenses | 49,126 | 272 |
Operating Profit before Working Capital Changes | 6,363,017 | 2,435,442 |
Working Capital Changes | ||
(Increase)/Decrease in Trade & Other Receivables | 1,096,300 | 2,847,472 |
(Increase)/Decrease in Inventories | (345,346) | (530,439) |
Increase/(Decrease) in Payables | (2,103,414) | (2,043,767) |
Cash Generated from Operations | 5,010,557 | 2,708,709 |
Income Tax Paid | (1,225,868) | (912,307) |
Surchage Tax Paid | (1,538,644) | - |
Retiring Gratuities paid | (1,973) | (1,856) |
Net Cash Flows Generated from Operating Activities | 2,244,071 | 1,794,545 |
Cash flow from Investing Activities | ||
Acquisition of Property, Plant & Equipment | (28,468) | - |
Sub Lease Rental Income Received | 5,175 | - |
Interest Received | 33,847 | 139,566 |
Dividend Received | 3 | - |
Net Cash Flows Generated from Investing Activities | 10,557 | 139,566 |
Cash Flow from Financing Activities | ||
Finance Cost Paid | (1,288) | (272) |
Dividend Paid | (3,216,936) | (3,204,920) |
Net Cash Flows Used in Financing Activities | (3,218,224) | (3,205,192) |
Net (Decrease)/Increase in Cash and Cash Equivalanets During the Period | (963,596) | (1,271,084) |
Cash and Cash Equivalanets at the Beginning of the Year | 6,830,067 | 1,942,754 |
Cash and Cash Equivalanets at the End of the Period | 5,866,470 | 671,673 |
Analysis of Cash and Cash Equivalants at the End of the Period | ||
Cash in Hand | 14,502 | 8,582 |
Cash in Bank | 5,952,009 | 1,517,540 |
Cash in Transit | 64,535 | 92,644 |
Bank Overdraft | (164,576) | (947,093) |
5,866,470 | 671,673 |
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DCSL - Distilleries Company of Sri Lanka plc published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 10:02:02 UTC.
