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

::

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

_/

_/

_/

_/

::

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

::

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

::

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.