IN TERMS OF RULE 7.4 OF THE COLOMBO STOCK EXCHANGE
" NIPPON CEMENT "
TOKYO CEMENT COMPANY (LANKA) PLC
INTERIM FINANCIAL STATEMENTS (Unaudited) 3rd QUARTER
FOR THE NINE MONTHS PERIOD ENDED 31st DECEMBER 2022
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CORPORATE INFORMATION | Page 1 of 12 | |||||
NAME OF THE COMPANY | : | Tokyo Cement Company (Lanka) PLC | ||||
COMPANY REGISTRATION NO | : | PQ 115 | ||||
LEGAL FORM | : | A public Quoted Company with Limited Liability, Incorporated in | ||||
Sri Lanka in 1982 and Listed on 1st January 1984 | ||||||
BOARD OF DIRECTORS | : | |||||
Dr Harsha Cabral PC | Chairman and Non Executive Independent Director | |||||
Mr S. R. Gnanam | Managing Director | |||||
Mr A.S.G. Gnanam | Non Executive Director | |||||
Mr E. J. Gnanam | Non Executive Director | |||||
Mr R Seevaratnam | Non Executive Independent Director (Expired on 17th January 2023) | |||||
Mr Ravi Dias | Non Executive Independent Director | |||||
Mr W .C Fernando | Director | |||||
Mr Asite Talwatte | Non Executive Independent Director | |||||
Mr Yaoki Hashimoto | Non Executive Director & Nominee Director of Ube Singapore Holdings Pte. Ltd | |||||
Dr Indrajit Coomaraswamy | Non Executive Independent Director | |||||
COMPANY SECRETARIES | : | Seccom (Private) Limited, (Company Secretaries) | ||||
1E - 2/1, De Fonseka Place, Colombo 5 | ||||||
T Phone +9411 2590 176 | Fax +9411 2 581618 | |||||
E_Mail kmaahamed@hotmail.com | ||||||
HEAD OFFICE | : | 469 - 1/1 Galle Road, Colombo 3 | ||||
T Phone +9411 2 558 100 | Fax +9411 2 500 897 | |||||
Web Site www.tokyocement.lk | ||||||
SUBSIDIARY COMPANIES | : | Tokyo Cement Power (Lanka) (Private) Limited | ||||
: | Tokyo Eastern Cement Company (Private) Limited | |||||
: | Tokyo Super Aggregate (Private) Limited | |||||
: Tokyo Supermix (Private) Limited | ||||||
: | Tokyo Cement Industrial Park (Pvt) Ltd | |||||
AUDITORS | : | BDO Partners, (Chartered Accountants) | ||||
Chittampalam A Gardiner Mawatha, Colombo 2 | ||||||
COMMITTEE MEMBERS | Audit | Remuneration | Related Party | Nomination | ||
Committee | Committee | Committee | Committee | |||
Dr Harsha Cabral PC | _/ | _/ | ||||
Mr Ravi Dias | _/ | _/ | _/ | _/ | ||
Mr Asite Talwatte | _/ | _/ | ||||
Mr S R Gnanam | _/ | |||||
Mr R Seevaratnam | _/ | _/ | _/ | _/ |
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TOKYO CEMENT COMPANY (LANKA) PLC | Page 2 of 12 | |||||
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | ||||||
- FOR THE NINE MONTHS PERIOD ENDED 31st DECEMBER 2022 - COMPANY | ||||||
COMPANY | COMPANY | |||||
For the Nine Months Ended 31st December | For the Quarter Ended 31st December | |||||
2022 | 2021 | % Change | 2022 | 2021 | % Change | |
+/ (-) | +/ (-) | |||||
Continuing Operations | Rs ' 000 | Rs ' 000 | Rs ' 000 | Rs ' 000 | ||
Revenue from Contracts with Customers | 27,292,075 | 21,918,219 | 25% | 7,003,735 | 8,340,187 | -16% |
Cost of Sales | (18,133,164) | (18,471,403) | -2% | (4,940,235) | (6,462,802) | -24% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Gross Profit | 9,158,911 | 3,446,816 | 166% | 2,063,500 | 1,877,385 | 10% |
Other Income | 697,435 | 12,838 | 5333% | 254,392 | 8,030 | 3068% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
9,856,346 | 3,459,654 | 185% | 2,317,892 | 1,885,415 | 23% | |
Selling and Distribution Expenses | (3,089,451) | (2,444,479) | 26% | (1,178,241) | (639,650) | 84% |
Administrative Expenses | (960,329) | (738,590) | 30% | (444,050) | (251,131) | 77% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Profits from Operation | 5,806,566 | 276,585 | 695,601 | 994,634 | ||
Dividend Income | 1,000,000 | 1,505,000 | -34% | 500,000 | 503,000 | -1% |
Profit on Disposal of Vessel | - | 473,020 | - | - | ||
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Profit Before Interest and Taxation | 6,806,566 | 2,254,605 | 202% | 1,195,601 | 1,497,634 | -20% |
Finance Income | 71,764 | 19,756 | 263% | 5,482 | 11,657 | -53% |
Finance Expenses | (3,640,280) | (408,511) | 791% | (631,381) | (157,835) | 300% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
Profit Before Taxation | 3,238,050 | 1,865,850 | 74% | 569,702 | 1,351,456 | -58% |
Income Tax Expenses | (890,838) | (395,549) | 125% | (336,829) | (303,314) | 11% |
------------------ | ------------------ | ---------------------- | ----------------------- | |||
PROFIT for the Period | 2,347,212 | 1,470,301 | 60% | 232,873 | 1,048,142 | -78% |
Other Comprehensive Income | - | - | - | - | ||
Total Comprehensive Income for the | ------------------ | ------------------ | ---------------------- | ----------------------- | ||
2,347,212 | 1,470,301 | 60% | 232,873 | 1,048,142 | -78% | |
Period | ||||||
========= | ========= | =========== | ============ | |||
Basic Earnings Per Share ( Rs) | 5.85 | 3.67 | 0.58 | 2.61 | ||
6th February 2023 | Sgd | |||||
COLOMBO | Mr H M Ajith Kumara | |||||
The above figures are provisional and subject to Audit | General Manager - Finance |
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TOKYO CEMENT COMPANY (LANKA) PLC | Page 3 of 12 | |||||
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME | ||||||
- FOR THE NINE MONTHS PERIOD ENDED 31st DECEMBER 2022 - GROUP | ||||||
GROUP | GROUP | |||||
For the Nine Months Ended 31st December | For the Quarter Ended 31st December | |||||
2022 | 2021 | 2022 | 2021 | % Change | ||
Rs ' 000 | Rs ' 000 | Rs ' 000 | Rs ' 000 | +/ (-) | ||
Continuing Operations | ||||||
Revenue from Contracts with Customers | 42,396,311 | 36,319,474 | 17% | 12,078,983 | 13,771,151 | -12% |
Cost of Sales | (26,469,659) | (28,745,089) | -8% | (7,866,498) | (10,294,507) | -24% |
------------------ | ------------------ | ----------------- | ----------------- | |||
Gross Profit | 15,926,652 | 7,574,385 | 110% | 4,212,485 | 3,476,644 | 21% |
Other Income | 706,182 | 17,896 | 3846% | 255,835 | 9,993 | 2460% |
------------------ | ------------------ | ----------------- | ----------------- | |||
16,632,834 | 7,592,281 | 119% | 4,468,320 | 3,486,637 | 28% | |
Selling and Distribution Expenses | (5,125,476) | (4,159,939) | 23% | (2,025,640) | (1,086,415) | 86% |
Administrative Expenses | (1,343,230) | (951,768) | 41% | (677,225) | (307,060) | 121% |
------------------ | ------------------ | ----------------- | ----------------- | |||
Profits from Operations | 10,164,128 | 2,480,574 | 310% | 1,765,455 | 2,093,162 | -16% |
Profit on Disposal of Vessel | - | 473,020 | - | - | ||
------------------ | ------------------ | ----------------- | ----------------- | |||
Profit Before Interest and Taxation | 10,164,128 | 2,953,594 | 244% | 1,765,455 | 2,093,162 | -16% |
Finance Income | 179,780 | 40,620 | 343% | 8,234 | 21,735 | -62% |
Finance Expenses | (4,844,170) | (427,034) | 1034% | (644,814) | (129,041) | 400% |
------------------ | ------------------ | ----------------- | ----------------- | |||
Profit before Taxation | 5,499,738 | 2,567,180 | 114% | 1,128,875 | 1,985,856 | -43% |
Income Tax Expenses | (1,230,148) | (489,210) | 151% | (569,874) | (337,236) | 69% |
------------------ | ------------------ | ----------------- | ----------------- | |||
Profit for the Period | 4,269,590 | 2,077,970 | 105% | 559,001 | 1,648,620 | -66% |
Other Comprehensive Income | - | - | - | - | ||
Total Comprehensive Income for the Period | 4,269,590 | 2,077,970 | 105% | 559,001 | 1,648,620 | -66% |
Attributable to Equity of the Parent | 4,264,611 | 2,063,676 | 107% | 556,367 | 1,639,898 | -66% |
Non Controlling Interest | 4,979 | 14,294 | -65% | 2,634 | 8,722 | -70% |
Basic Earning Per Share ( Rs) | 10.64 | 5.15 | 1.39 | 4.09 |
The above figures are provisional and subject to Audit
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TOKYO CEMENT COMPANY (LANKA) PLC | ||||
CONSOLIDATED STATEMENT OF FINANCIAL POSITION | Page 4 of 12 | |||
AS AT 31ST DECEMBER 2022 | ||||
Group | Company | |||
31st Dec | 31 st March | 31st Dec | 31 st March | |
2022 | 2022 | 2022 | 2022 | |
ASSETS | Rs ' 000 | Rs ' 000 | Rs ' 000 | Rs ' 000 |
Non Current Assets | ||||
Property, Plant and Equipment | 29,913,404 | 28,555,263 | 15,467,133 | 13,596,876 |
Right of Use Assets | 1,325,751 | 1,408,962 | 1,157,262 | 1,197,655 |
Intangible Assets | 45,129 | 64,254 | 8,839 | 25,346 |
Investments in Subsidiaries | - | - | 12,237,177 | 12,237,177 |
----------------- | ------------------ | ----------------- | ------------------ | |
Total Non Current Assets | 31,284,284 | 30,028,479 | 28,870,411 | 27,057,054 |
----------------- | ------------------ | ----------------- | ------------------ | |
Current Assets | ||||
Inventories | 7,304,513 | 5,459,542 | 3,654,678 | 3,866,427 |
Trade and Other Receivables | 4,008,294 | 4,005,217 | 1,960,567 | 2,245,512 |
Advances, Deposits and Prepayments | 1,876,826 | 1,358,634 | 1,434,960 | 941,196 |
Amount Due from Subsidiaries | - | - | 557,699 | 547,443 |
Financial Assets at Amortized Cost | 9,169 | 8,387 | - | - |
Cash and Cash Equivalents | 434,297 | 6,349,580 | 294,266 | 4,072,997 |
----------------- | ------------------ | ----------------- | ------------------ | |
Total Current Assets | 13,633,099 | 17,181,360 | 7,902,170 | 11,673,575 |
----------------- | ------------------ | ----------------- | ------------------ | |
TOTAL ASSETS | 44,917,383 | 47,209,839 | 36,772,581 | 38,730,629 |
========= | ========= | ========= | ========= |
Figures in brackets indicate deductions
Statement of Financial Position of the Company as at 31st December 2022 and the Consolidated Statement of Comprehensive Income for the period then ended are drawn up from the unaudited accounts of the Company, and they provide the information required by the Colombo Stock Exchange
The Board of Directors at its meeting held on 6th February 2023, on the Recommendation of the Audit Committee, approved the accounts for circulation to the members of the Company in terms of Rule 7.4 of the Colombo Stock Exchange
Sgd Mr S R Gnanam | Sgd Mr W C Fernando | |
6th February 2023 | Managing Director | Director |
COLOMBO |
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Tokyo Cement Company (Lanka) plc published this content on 07 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 February 2023 10:28:25 UTC.