HAYLEYS FABRIC PLC Hayleys Fabric PLC
Interim Report
First quarter
Three months ended 30th June 2022
2 | |
Corporate Information | |
Name of Company | Secretaries |
Hayleys Fabric PLC | Hayleys Group Services (Pvt) Ltd. |
400, Deans Road, Colombo 10. | |
Legal Form | Telephone: (94-11) 2627650/51/52/53 |
A Quoted Public Company with Limited Liability | |
(Incorporated in Sri Lanka in 1993 ) | Registered Office |
400, Deans Road , | |
Company Registration Number | Colombo 10. |
PQ 37. | Telephone: (94-11) 2627000 |
Website: www.hayleysfabric.com | |
Stock Exchange Listing | |
The ordinary shares of the Company are listed on Main Board of | Main Office & Factory |
Colombo Stock Exchange of Sri Lanka | Narthupana Estate , Neboda. |
Telephone: 94 (34) 2297100, 2242055 | |
Accounting year end | |
31st March | Bankers |
Standard Chartered Bank plc | |
Principal Activity | Hongkong and Shanghai Banking Corporation |
Manufacturing of knitted fabric | Hatton National Bank PLC |
Bank of Ceylon | |
Directors | National Development Bank PLC |
A.M.Pandithage - Chairman | Sampath Bank PLC |
E.R.P. Goonetilleke - Managing Director | Deutsche Bank AG |
K.D.D.Perera (Resigned w.e.f.10th June 2022) | Citibank, N.A. |
S.C.Ganegoda | Seylan Bank PLC |
H.Somashantha | Pan Asia Banking Corporation PLC |
R.N.Somaratne | People's Bank |
Dr. N.S.J. Nawaratne | DFCC Bank |
A.S.Jayatilleka | Union Bank of Colombo PLC |
I.B.R.R. Bandara | Nations Trust Bank |
M.H Jayasinghe | Bank of China |
Mr. K.P.C.P.K.Pathirana |
Ms.Yogadinusha Bhaskaran (Ceased to be alternate Director to K.D.D.Perera w.e.f. 10th June 2022)
Subsidiaries
South Asia Textiles Ltd.
Auditors
Ernst & Young
Chartered Accountants,
201, De Saram Place,
Colombo 10.
Hayleys Fabric PLC - Interim Report 1st Quarter ended 30th June 2022
3
Investor Information
Market value of shares | 30.06.2022 | 30.06.2021 |
(LKR) | (LKR) | |
Last traded price | 29.00 | 18.20 |
Highest price recorded for three months ending | 37.90 | 19.90 |
Lowest price recorded for three months ending | 20.00 | 14.10 |
Share Trading | ||
No. of transactions | 5,483 | 16,618 |
No. of shares traded | 17,236,529 | 104,746,971 |
Value of shares traded (LKR) | 531,695,990 | 1,890,729,106 |
First twenty Shareholders as at 30.06.2022 | ||
Name of Shareholder | No. of Shares | % |
Hayleys PLC No 3 Share Investment Account | 244,974,046 | 58.96 |
Employees Provident Fund | 11,081,454 | 2.67 |
Hayleys Advantis Limited | 10,073,700 | 2.42 |
Mr. Shanthikumar Nimal Placidus Palihena & Mrs A.S.Palihena | 10,000,000 | 2.41 |
Hayleys Agriculture Holdings Limited | 6,944,514 | 1.67 |
Mr. Kulappuarachchige Don Harindra Perera | 6,201,037 | 1.49 |
Amana Bank PLC/ HI- Line Trading Pvt Ltd | 4,815,751 | 1.16 |
Employees Trust Fund Board | 4,044,118 | 0.97 |
Mrs. Swyrie Balendra | 3,160,441 | 0.76 |
Mr. Kandiah Balendra and Mrs. S Balendra | 2,739,839 | 0.66 |
Seylan Bank PLC/ Capital Trust Holdings Ltd | 2,457,191 | 0.59 |
Union Assurance PLC- Universal Life Fund | 2,430,709 | 0.59 |
DFCC Bank PLC A/C 1 | 2,000,000 | 0.48 |
DFCC Bank PLC A/C No. 02 | 1,842,168 | 0.44 |
J.B. Cocoshell (Pvt) Ltd | 1,487,579 | 0.36 |
Insite Holdings Private Ltd | 1,435,000 | 0.35 |
Mr. Pasqual Handi Dayananda Waidyatilaka | 1,411,745 | 0.34 |
Sam Innovators (Pvt) Ltd. | 1,394,628 | 0.34 |
Bank of Ceylon No. 1 Account | 1,259,527 | 0.30 |
Hatton National Bank PLC/Ravindra Erle Rambukwella | 1,200,000 | 0.29 |
Total | 320,953,447 | 77.25 |
The percentage of shares held by public as at 30th June 2022 was 36.78%
Number of shareholders representing the public holding as at 30th June 2022 was 7,301
Float adjusted Market Capitalization as at 30th June 2022 was LKR 4,431.61 Mn.
The Company complies with option 4 of the Listing Rules 7.14.1(a)which requires a minimum Public Holding of 10%.
Direct holding | |
Director | No. of Shares |
Mr.K.D.D.Perera (Resigned w.e.f. 10th June 2022) | 8,180 |
Mr.S.C Ganegoda | 525,000 |
Mr.H.Somashantha | 40,000 |
Mr. M.W.R.N. Somaratne * | 70,000 |
Mr.I.B.R.R. Bandara | 20,000 |
Mr.K.P.C.P.K.Pathirana | 2,000 |
- Mr. M.W.R.N. Somaratne holding 60,000 shares through Margin Trading Account, Sampath Bank PLC/Mr. Migel Wasam Rizvi Nandajith Somaratne.
30.06.2022 | 31.03.2022 | ||
Balance at the end of the period/year | 415,481,776 | 415,481,776 | |
Net assets per share - | USD | 0.08 | 0.07 |
LKR | 29.51 | 21.92 | |
Dividend per share | LKR | 1.00 | 1.20 |
Hayleys Fabric PLC - Interim Report 1st Quarter ended 30th June 2022
4
Hayleys Fabric PLC
STATEMENT OF FINANCIAL POSITION
Group | Company | Group | Company | ||||
Audited | Audited | Unaudited | Unaudited | Unaudited | Audited | ||
As at 31.03.22 | As at 31.03.22 | As at 30.06.22 | As at 30.06.21 | As at 30.06.22 | As at 30.06.21 | ||
USD | USD | USD | USD | USD | USD | ||
ASSETS | |||||||
Non-Current Assets | |||||||
43,919,766 | 28,072,649 | Property, plant and equipment | 45,653,583 | 41,202,545 | 27,587,779 | 29,957,098 | |
844,186 | 199,598 | Right of use assets | 857,384 | 287,473 | 197,832 | 188,709 | |
363,507 | 57,471 | Intangible assets | 342,770 | 415,607 | 50,787 | 67,252 | |
- | 18,281,412 | Investment in Subsidiary | - | - | 18,281,412 | 19,742,594 | |
10,440,277 | - | Goodwill | 10,440,277 | 12,107,787 | - | - | |
326,998 | - | Other non current receivables | 133,185 | 1,941,943 | - | - | |
55,894,734 | 57,427,199 | 55,955,355 | 46,117,810 | 49,955,653 | |||
46,611,130 | |||||||
Current Assets | |||||||
36,794,317 | 20,813,189 | Inventories | 34,245,058 | 31,749,757 | 19,135,371 | 19,287,045 | |
16,158,804 | 9,704,541 | Trade receivables | 18,311,326 | 16,554,659 | 11,679,831 | 10,762,945 | |
1,397,729 | 627,282 | Other receivables | 2,316,671 | 2,053,757 | 740,284 | 506,847 | |
1,921,422 | 874,338 | Advances and prepayments | 3,036,770 | 1,385,412 | 1,946,436 | 789,733 | |
9,875,615 | 4,708,535 | Cash and cash equivalents | 7,254,363 | 4,942,216 | 4,941,721 | 3,977,037 | |
66,147,887 | 36,727,885 | 65,164,188 | 56,685,801 | 38,443,643 | 35,323,607 | ||
122,042,621 | 83,339,015 | Total Assets | 122,591,387 | 112,641,156 | 84,561,453 | 85,279,260 | |
EQUITY AND LIABILITIES | |||||||
Capital and Reserves | |||||||
17,561,761 | 17,561,761 | Stated capital | 17,561,761 | 17,561,761 | 17,561,761 | 17,561,761 | |
632,462 | 632,462 | Revaluation reserve | 632,462 | 1,415,280 | 632,462 | 1,415,280 | |
12,262,705 | 9,043,731 | Retained earnings | 15,202,805 | 3,224,151 | 10,859,287 | 2,650,030 | |
Total equity attributable to equity holders of the | |||||||
30,456,928 | 27,237,954 | company | 33,397,028 | 22,201,192 | 29,053,510 | 21,627,071 | |
- | - | Non-controlling interest | - | 97,182 | - | - | |
30,456,928 | 27,237,954 | Total equity | 33,397,028 | 22,298,374 | 29,053,510 | 21,627,071 | |
Non-Current Liabilities | |||||||
17,256,694 | 15,592,721 | Interest bearing loans and borrowings | 15,113,284 | 12,202,017 | 12,668,776 | 11,644,814 | |
188,898 | 113,758 | Right of use assets- Lease obligations | 177,390 | 247,348 | 113,796 | 106,186 | |
4,204,816 | 3,093,895 | Deferred tax liabilities | 4,687,098 | 2,795,391 | 3,753,662 | 1,982,610 | |
2,941,519 | 2,471,850 | Retirement benefit obligations | 2,554,101 | 3,841,314 | 2,140,131 | 3,125,904 | |
24,591,927 | 21,272,224 | 22,531,872 | 19,086,070 | 18,676,365 | 16,859,514 | ||
Current Liabilities | |||||||
35,450,851 | 17,211,612 | Trade and other payables | 31,797,825 | 33,105,655 | 16,969,875 | 17,456,743 | |
1,508,439 | 362,263 | Bank overdraft | 2,282,965 | 2,023,411 | 1,344,023 | 204,077 | |
19,208,484 | 8,858,415 | Interest bearing loans and borrowings | 20,167,572 | 25,625,282 | 10,257,562 | 20,957,097 | |
4,962,057 | 4,414,862 | Current portion of long term interest bearing borrowing | 4,457,268 | 3,179,635 | 3,978,329 | 2,585,649 | |
21,093 | 4,064 | Current portion of Right of use assets- Lease obligations | 19,863 | 28,065 | 6,138 | 8,470 | |
339,415 | 322,586 | Amounts due to Hayleys PLC | 736,494 | 82,211 | 715,640 | 82,211 | |
5,503,427 | 3,655,035 | Other non financial liabilities | 7,200,499 | 7,212,453 | 3,560,011 | 5,498,428 | |
66,993,766 | 34,828,837 | 66,662,487 | 71,256,712 | 36,831,578 | 46,792,675 | ||
122,042,621 | 83,339,015 | Total Equity and Liabilities | 122,591,387 | 112,641,156 | 84,561,453 | 85,279,260 |
The Statement of Financial Position as at 30th June 2022 and Statements of Profit or Loss and other Comprehensive Income, Changes in Equity and Cash Flow for three months then ended are drawn up from the unaudited financial statements of the Company, it's subsidiary and they provide the information required by the Colombo Stock Exchange.
These financial statements are in compliance with the requirements of the Companies Act No.07 of 2007.
Sgd.
………………………………….
Ruwan Rohitha Bandara
Director- Finance
The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the Board by,
Sgd. | Sgd. |
……………………… | …………………………………. |
A.M.Pandithage | E.R.P.Goonetilleke |
Chairman | Managing Director |
Colombo | |
1st August 2022 |
Hayleys Fabric PLC - Interim Report 1st Quarter ended 30th June 2022
5
Hayleys Fabric PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Group | Group | |||
Audited | Unaudited | Unaudited | ||
year ended | 3 months ended | 3 months ended | ||
31st March | 30th June | 30th June | ||
2022 | 2022 | 2021 | Change % | |
USD | USD | USD | + /(-) | |
150,218,687 | Revenue from contracts with customers | 41,283,608 | 28,796,894 | 43 |
(130,658,329) | Cost of sales | (35,937,063) | (24,683,952) | 46 |
19,560,358 | Gross Profit | 5,346,545 | 4,112,942 | 30 |
1,876,282 | Other operating income | 127,374 | 255,427 | (50) |
(10,989,203) | Administrative expenses | (2,177,675) | (2,511,961) | (13) |
(1,906,734) | Distribution expenses | (499,441) | (175,074) | >100 |
(207,942) | Other expenses | - | - | |
6,643,479 | Net financing income/(expense) | 2,708,023 | (179,469) | >100 |
14,976,240 | Profit before tax | 5,504,827 | 1,501,865 | >100 |
(2,198,743) | Income tax expense | (1,084,283) | (14,986) | >100 |
12,777,497 | Profit for the period | 4,420,543 | 1,486,879 | >100 |
Profit for the period attributable to: | ||||
12,777,497 | Owners of the parent | 4,420,543 | 1,480,082 | >100 |
- | Non-controlling interest | - | 6,797 | (100) |
12,777,497 | Profit for the period | 4,420,543 | 1,486,879 | >100 |
Other Comprehensive Income not to be reclassified to profit or loss | ||||
(910,254) | Deficit on revaluation of land | - | - | |
127,436 | Income tax effect on revaluation of land | - | - | |
(75,432) | Actuarial loss on defined benefit plans | - | - | |
10,560 | Income tax effect on actuarial loss on defined benefit plans | - | - | |
11,929,807 | Total Comprehensive Income, Net of Tax | 4,420,543 | 1,486,879 | |
0.031 | Basic / Diluted Earnings per Share | 0.011 | 0.004 |
Hayleys Fabric PLC - Interim Report 1st Quarter ended 30th June 2022
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Hayleys Fabric plc published this content on 01 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2022 11:04:06 UTC.
