Swisstek Ceylon : PARQ-Interim Financial Statements as at 30-09-2022

STATEMENT OF FINANCIAL POSITION

GROUP

COMPANY

As at

30-09-2022

31-03-2022

30-09-2022

31-03-2022

Unaudited

Audited

Unaudited

Audited

Rs.'000

Rs.'000

Rs.'000

Rs.'000

ASSETS

Property, plant and equipment

3,583,564

3,435,474

1,963,149

1,791,397

Investment property

211,985

211,985

211,985

211,985

Other long term investment

56,667

56,667

229,784

229,784

Non current assets

3,852,216

3,704,126

2,404,918

2,233,166

Inventories

5,884,307

2,848,173

516,656

255,997

Trade & other receivables

2,791,555

3,559,031

804,748

559,921

Income tax receivable

118,733

-

-

-

Contract Assets

36,498

29,343

36,498

29,343

Amounts due from related parties

92,882

4,789

244,680

65,133

Cash & cash equivalents

277,205

575,657

242,638

378,320

Current assets

9,201,180

7,016,993

1,845,220

1,288,714

Total assets

13,053,396

10,721,119

4,250,138

3,521,880

EQUITY

Stated capital

368,256

368,256

368,256

368,256

Reserves

796,941

796,941

694,623

694,623

Retained Earnings

1,845,060

1,989,933

1,079,975

913,908

Equity attributable to owners of the company

3,010,257

3,155,130

2,142,854

1,976,787

Non controlling interest

159,768

204,676

-

-

Total equity

3,170,025

3,359,806

2,142,854

1,976,787

Liabilities

Retirement benefits obligation

54,537

49,051

11,433

10,953

Lease Rental Payable after one year

21,752

21,576

-

-

Deferred tax liability

377,612

369,555

232,684

224,628

Long term borrowings payable after one year

282,956

494,071

126,427

304,208

Non current liabilities

736,857

934,253

370,544

539,789

Trade & other payables

1,768,743

2,124,998

590,549

354,544

Contract liabilities

2,012

3,836

2,012

3,836

Long term borrowings payable within one year

223,819

223,819

123,819

123,819

Short term loans

5,881,920

3,445,119

681,753

344,318

Amount due to related parties

56,098

40,679

6,841

1,677

Lease Rental Payable within one year

2,247

4,083

-

-

Income tax payable

16,144

104,558

16,144

69,420

Bank overdrafts

1,195,531

479,968

315,622

107,690

Current liabilities

9,146,514

6,427,060

1,736,740

1,005,304

Total liabilities

9,883,371

7,361,313

2,107,285

1,545,094

Total equity and liabilities

13,053,396

10,721,119

4,250,138

3,521,880

Net asset value per share ( Rs.)

22.00

23.05

15.66

14.44

Figures in brackets indicate deductions.

Sgd.

Sgd.

Director

Director

1st November 2022

STATEMENT OF COMPREHENSIVE INCOME

GROUP

COMPANY

Period ended

30-09-2022

30-09-2021

Variance

30-09-2022

30-09-2021

Variance

Unaudited

Unaudited

% for the

Unaudited

Unaudited

% for the

Quarter

6 Month

Quarter

6 Month

Six

Quarter

6 Month

Quarter

6 Month

Six

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Months

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Months

Sales ( net of tax)

3,000,410

5,308,470

2,052,322

3,400,544

56

1,036,905

1,906,087

520,513

944,402

102

Cost of sales

(2,283,201)

(3,807,237)

(1,527,908)

(2,570,433)

(48)

(809,457)

(1,394,505)

(377,881)

(693,261)

(101)

Gross profit

717,209

1,501,233

524,414

830,111

81

227,448

511,582

142,632

251,141

104

Other operating income

25,917

48,867

22,094

40,138

22

14,443

25,395

18,264

95,086

(73)

Distribution expenses

(217,501)

(421,107)

(164,641)

(280,276)

(50)

(71,448)

(142,901)

(41,525)

(71,992)

(98)

Administration expenses

(69,736)

(150,124)

(80,743)

(143,213)

(5)

(18,527)

(49,003)

(16,715)

(32,505)

(51)

Profit from operating activities

455,889

978,869

301,124

446,760

119

151,916

345,073

102,656

241,730

43

Net finance cost

(448,842)

(1,071,777)

(35,768)

(80,045)

(1,239)

(59,520)

(2,603)

(7,473)

(18,034)

86

Profit/(Loss) before taxation

7,047

(92,908)

265,356

366,715

(125)

92,396

342,470

95,183

223,696

53

Taxation

793

26,301

(55,848)

(87,391)

130

(14,570)

(53,229)

(24,330)

(49,070)

(8)

Profit/(Loss) for the period

7,840

(66,607)

209,508

279,324

(124)

77,826

289,241

70,853

174,626

66

Total comprehensive income for the period

7,840

(66,607)

209,508

279,324

(124)

77,826

289,241

70,853

174,626

66

Attributable to:

Owners of the company

16,672

(21,699)

191,997

258,379

(108)

77,826

289,241

70,853

174,626

66

Non-controlling interest

(8,832)

(44,908)

17,511

20,945

(314)

-

-

-

-

Profit/(Loss) for the year

7,840

(66,607)

209,508

279,324

(124)

77,826

289,241

70,853

174,626

66

Total comprehensive income attributable to:

Owners of the company

16,672

(21,699)

191,997

258,379

(108)

77,826

289,241

70,853

174,626

66

Non-controlling interest

(8,832)

(44,908)

17,511

20,945

(314)

-

-

-

-

Total comprehensive income for the period

7,840

(66,607)

209,508

279,324

(124)

77,826

289,241

70,853

174,626

66

Basic earnings per share (Rs.)

0.12

(0.16)

1.40

1.89

(108)

0.57

2.11

0.52

1.28

66

CASH FLOW STATEMENT

Group

Company

Period ended

30-09-2022

30-09-2021

30-09-2022

30.09.2021

Unaudited

Unaudited

Unaudited

Unaudited

Rs.'000

Rs.'000

Rs.'000

Rs.'000

CASH FLOW FROM OPERATING ACTIVITIES

Profit/(loss) before tax

(92,908)

366,715

342,470

223,696

Adjustments for;

Depreciation

90,422

84,137

27,148

25,516

Amortisation

3,290

2,017

-

-

Provision on retirement benefit obligation

6,333

6,848

1,350

1,110

Interest cost

673,008

75,626

94,214

19,965

Dividend income

-

-

-

(61,170)

Exchange loss / (gain)

395,901

4,418

(91,611)

(1,931)

Operating profit/(loss) before working capital changes

1,076,046

539,761

373,571

207,186

Changes in working capital

- (Increase)/Decrease in inventory

(3,036,134)

(372,583)

(260,659)

21,715

- (Increase)/Decrease in trade & other receivables

767,476

(240,137)

(244,827)

3,679

- (Increase)/Decrease in amounts due from/to related parties

(72,674)

16,577

(174,383)

(1,445)

- Increase/(Decrease) in trade & other payables

(955,286)

580,797

321,107

(75,339)

- Contract Asset

(7,155)

(178)

(7,155)

(178)

- Contract Liability

(1,824)

(23,788)

(1,824)

(23,788)

Cash generated from operations

(2,229,551)

500,449

5,830

131,830

Interest paid

(478,158)

(72,686)

(87,705)

(13,109)

Tax paid

(167,566)

(79,215)

(98,449)

(49,762)

Gratuity payments

(870)

(122)

(870)

(122)

Net cash generated from/(used) in operating activities

(2,876,145)

348,426

(181,194)

68,837

CASH FLOW FROM INVESTING ACTIVITIES

Acquisition of property, plant and equipment

(238,512)

(541,312)

(198,901)

(447,863)

Dividend Income

-

-

-

61,170

Net cash generated from/(used) in investing activities

(238,512)

(541,312)

(198,900)

(386,693)

CASH FLOW FROM FINANCING ACTIVITIES

Dividend paid to non controlling interest

(123,174)

(152,538)

(123,174)

(143,703)

Loan Obtained

5,314,466

3,900,409

882,668

940,386

Repayment of borrowings

(3,090,649)

(3,408,935)

(723,014)

(425,515)

Net cash generated from/(used) in financing activities

2,100,643

338,936

36,480

371,168

Net Increase/ (Decrease) in cash and cash equivalents

(1,014,014)

146,050

(343,614)

53,312

Cash & cash equivalents at the beginning of the year

95,688

(113,617)

270,630

48,205

Cash & cash equivalents at the end of the period (Note a)

(918,326)

32,433

(72,984)

101,517

Note a

Analysis of cash and cash equivalent at the end of the period

Cash at banks and cash in hand

277,205

275,245

242,638

226,064

Bank Overdraft

(1,195,531)

(242,812)

(315,622)

(124,547)

Cash and cash equivalent at the end of the period

(918,326)

32,433

(72,984)

101,517

Figures in brackets indicate deductions.

-

-

-

-