DISTILLERIES COMPANY OF SRI LANKA PLC

INTERIM FINANCIAL STATEMENTS

FOR THE QUARTER ENDED

31st December 2022

DISTILLERIES COMPANY OF SRI LANKA PLC

STATEMENTS OF COMPREHENSIVE INCOME

For the period ended 31st December

2022

2021

Variance

Rs.'000s

Rs.'000s

%

Unaudited

Unaudited

Gross Revenue

92,675,321

73,451,879

26.2%

Net Revenue

42,860,428

23,402,820

83.1%

Cost of Sales

(18,331,551)

(12,245,308)

49.7%

Gross Profit

24,528,877

11,157,512

119.8%

Other Operating Income

68,802

78,942

-12.8%

Distribution Expenses

(784,019)

(514,262)

52.5%

Administrative Expenses

(1,439,445)

(904,386)

59.2%

Profit from Operations

22,374,214

9,817,806

127.9%

Finance Income

1,107,931

210,754

425.7%

Finance Cost

(162,701)

(172,957)

-5.9%

Net Finance Income/(Expense)

945,230

37,797

2400.8%

Profit before Tax from continued operations

23,319,445

9,855,603

136.6%

Taxation

(9,388,989)

(4,020,221)

133.5%

Profit for the period

13,930,455

5,835,382

138.7%

Items that are or may be reclassified to Profit or Loss

Net Change in fair Value of Available for Sale Financial

Assets

(373,347)

156,880

(373,347)

156,880

Total Other Comprehensive Income/(Expense) for the

(373,347)

156,880

Period

-338.0%

Total Comprehensive Income/(Expense) for the Period

13,557,108

5,992,262

Earnings Per Share (Rs.)

Basic Earnings per Share

3.03

1.27

138.7%

DISTILLERIES COMPANY OF SRI LANKA PLC

INCOME STATEMENTS

For the Quarter ended 31st December 2022

2022

2021

Variance

Rs.'000s

Rs.'000s

%

Unaudited

Unaudited

Gross Revenue

30,241,107

30,950,371

-2.3%

Net Revenue

14,786,195

8,707,070

69.8%

Cost of Sales

(5,317,785)

(4,916,359)

8.2%

Gross Profit

9,468,410

3,790,711

149.8%

Other Operating Income

25,583

35,957

-28.9%

Distribution Expenses

(313,521)

(208,643)

50.3%

Administrative Expenses

(563,126)

(360,564)

56.2%

Profit from Operations

8,617,345

3,257,462

164.5%

Finance Income

519,604

20,007

2497.1%

Finance Cost

(58,699)

(54,258)

8.2%

Net Finance Income/(Expense)

460,905

(34,251)

-1445.7%

Profit before Tax from continued operations

9,078,251

3,223,211

181.7%

Taxation

(3,618,135)

(1,361,739)

165.7%

Profit for the Period

5,460,116

1,861,471

193.3%

Items that are or may be reclassified to Profit or Loss

Net Change in fair Value of Available for Sale Financial Assets

(70,947)

(77,435)

(70,947)

(77,435)

Total Other Comprehensive Income/(Expense) for the Period

(70,947)

(77,435)

-8.4%

Total Comprehensive Income/(Expense) for the Period

5,389,168

1,784,036

Earnings Per Share (Rs.)

Basic Earnings per Share

1.19

0.40

193.3%

DISTILLERIES COMPANY OF SRI LANKA PLC

STATEMENTS OF FINANCIAL POSITION

AS AT,

Unaudited

Unaudited

Audited

31-Dec-22

31-Dec-21

31-Mar-22

Rs.'000s

Rs.'000s

Rs.'000s

Non Current Assets

Property, Plant and Equipment

4,595,470

4,955,748

4,839,134

Right-of-use Asset

1,146,491

1,204,030

1,398,847

Net Investment in Sub Lease

27,514

-

35,848

Other Non Current Financial Investment

1,238,346

2,113,222

1,611,699

7,007,821

8,273,000

7,885,528

Current Assets

Inventories

7,690,933

4,343,928

3,381,008

Other Receivables

2,862,197

3,597,747

2,107,585

Trade Receivables

3,508,250

2,882,463

4,126,084

Net Investment in Sub Lease

15,943

14,462

Amounts Due from Related Companies

796,656

675,993

596,101

Other Current Financial Investment

19,801

48,890

21,214

Cash and Cash Equivalents

8,090,727

644,806

7,027,682

22,984,507

12,193,827

17,274,136

Total Assets

29,992,328

20,466,827

25,159,664

EQUITY AND LIABILITIES

Capital and Reserve

Stated Capital

3,000,000

3,000,000

3,000,000

Capital Reserve

1,673,243

2,566,614

2,046,591

Revenue Reserve

2,059,036

2,337,582

1,325,870

6,732,279

7,904,196

6,372,461

Non Current Liabilities

Deferred Tax Liabilities

1,523,149

1,583,059

1,523,150

Employee Benefits

171,649

251,774

175,007

Lease Liability

784,888

1,043,930

1,220,026

2,479,686

2,878,763

2,918,183

Current Liabilities

Trade and Other Payables

9,738,954

4,027,136

7,545,611

Amounts Due to Related Companies

129

-

24,021

Lease Liability

498,311

300,445

422,880

Taxes Payable

9,751,645

4,285,440

7,669,040

Interest Bearing Loans and Borrowings

-

800,000

10,000

Bank Overdrafts

791,324

270,847

197,468

20,780,363

9,683,868

15,869,020

Total Equity and Liabilities

29,992,328

20,466,827

25,159,664

Net Assets per Share (Rs.)

1.46

1.72

1.39

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/-

D.H.S.Jayawardena

C.R Jansz

Chairman / Managing Director

Director

14th February 2023

DISTILLERIES COMPANY OF SRI LANKA PLC STATEMENTS OF CHANGES IN EQUITY

Balance as at 1st April 2021

Adjustment due to initial application of SLFRS 16

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 31st December 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 31st December 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

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

5,835,382

5,835,382

-

-

-

-

156,880

-

156,880

-

-

-

-

156,880

5,835,382

5,992,262

-

-

-

-

-

-

-

(7,169,342)

(7,169,342)

-

-

-

-

-

(7,169,342)

(7,169,342)

3,000,000

1,754,636

107,882

10,000

694,097

2,337,581

7,904,196

3,000,000

1,754,636

107,882

10,000

174,073

1,325,870

6,372,461

-

-

-

-

-

13,930,456

13,930,456

-

-

-

-

(373,348)

-

(373,348)

-

-

-

-

-

(3,077,288)

(3,077,288)

-

-

-

-

(373,348)

10,853,167

10,479,819

-

-

-

-

-

(10,120,000)

(10,120,000)

3,000,000

1,754,636

107,882

10,000

(199,275)

2,059,037.31

6,732,279

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DCSL - Distilleries Company of Sri Lanka plc published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 04:24:06 UTC.