Office Equipment : Interim Financial Report 31.3.2022

Group

Three

Three

Twelve

Twelve

Months Ended

Months Ended

Months Ended

Months Ended

31st March 2022

31st March 2021

Variance

31st March 2022

31st March 2021

Variance

Rs.

Rs.

%

Rs.

Rs.

%

Revenue

22,088,770

13,233,862

66.91

74,879,062

55,543,936

34.81

Cost of Sales

(8,222,098)

(2,477,038)

231.93

(26,875,684)

(17,432,788)

54.17

Gross Profit

13,866,672

10,756,824

28.91

48,003,378

38,111,148

25.96

Other Income

3,790,556

4,870

77,734.83

3,942,276

109,267

3,507.93

Distribution Cost

(3,625,741)

(1,120,197)

223.67

(7,250,679)

(5,304,531)

36.69

Administration Expenses

(7,501,905)

(6,762,175)

10.94

(26,684,482)

(26,755,966)

(0.27)

Results from Operating activities

6,529,582

2,879,322

126.77

18,010,493

6,159,918

192.38

Finance Cost

(342,896)

(1,011,134)

(66.09)

(1,729,255)

(3,985,009)

(56.61)

Finance Income

276,271

50,701

444.90

2,195,612

1,027,840

113.61

Net Finance (Cost/Income)

(66,625)

(960,433)

(93.06)

466,357

(2,957,169)

(115.77)

Profit/(Loss) before Income Taxation

6,462,957

1,918,889

236.81

18,476,850

3,202,749

476.91

Income Tax Expenses

(1,790,867)

(742,451)

141.21

(4,782,092)

(1,087,216)

339.85

Profit /(Loss) After Income Taxation

4,672,090

1,176,438

297.14

13,694,758

2,115,533

547.34

Other Comprehensive Income

Net charge in fair value of Available-for-Sale

518,613

(765,132)

531,426

275,664

Financial Assets

Impairment Loss/Reversal of impairment Loss on

0

0

0

0

Available-for-Sale Financial Assets recognised

through Profit and Loss

Deficit/(Surplus) Change on Employee Retirement

(608,820)

632,341

(316,907)

716,863

Benefit Obligation

Other Comprehensive Income /(Expense) for the

(90,207)

(132,791)

(32.07)

214,519

992,527

(78.39)

Total Comprehensive Income /(Expense) for the p

4,581,883

1,043,647

339.03

13,909,277

3,108,060

347.52

Earnings Per Share

5.60

1.41

16.43

2.54

Segmental Analysis

Sale of Cash Handling Solutions

19,613,034

18,298,435

Maintenance and Service

28,283,686

27,096,018

CPS Cash Processing

12,121,064

3,538,494

Sale And Service Of Computer

14,861,278

6,610,989

74,879,062

55,543,936

As at

31st March 2022

31st March 2021

Ordinary shares

833,560

833,560

Market price per share

For the quarter ended 31st March

2022

2021

Rs.

Rs.

Highest price

No Trading

100.00

Lowest price

No Trading

54.00

Closing price as at 31st March

No Trading

54.40

Company

Three

Three

Twelve

Twelve

Months Ended

Months Ended

Months Ended

Months Ended

31st March 2022

31st March 2021

Variance

31st March 2022

31st March 2021

Variance

Rs.

Rs.

%

Rs.

Rs.

%

Revenue

21,362,118

12,005,203

77.94

60,017,784

48,932,947

22.65

Cost of Sales

(8,202,588)

(1,934,551)

324.00

(17,946,274)

(13,104,531)

36.95

Gross Profit

13,159,530

10,070,652

30.67

42,071,510

35,828,416

17.42

Other Income

3,775,780

0

#DIV/0!

3,864,367

16,012

24,034.19

Distribution Cost

(3,566,610)

(1,078,721)

230.63

(7,119,460)

(5,227,775)

36.19

Administration Expenses

(6,955,305)

(6,347,224)

9.58

(24,809,320)

(25,238,371)

(1.70)

Results from Operating activities

6,413,395

2,644,707

142.50

14,007,097

5,378,282

160.44

Finance Cost

(336,795)

(999,847)

(66.32)

(1,648,330)

(3,884,136)

(57.56)

Finance Income

271,806

48,109

464.98

2,184,911

1,016,434

114.96

Net Finance (Cost/Income)

(64,989)

(951,738)

(93.17)

536,581

(2,867,702)

(118.71)

Profit/(Loss) before Income Taxation

6,348,406

1,692,969

274.99

14,543,678

2,510,580

479.30

Income Tax Expenses

(1,763,686)

(515,122)

242.38

(4,045,277)

(752,442)

437.62

Profit/(Loss) After Income Taxation

4,584,720

1,177,847

289.25

10,498,401

1,758,138

497.13

Other Comprehensive Income

Net charge in fair value of Available-for-Sale Financial

(867,628)

(765,132)

13.40

531,426

275,664

92.78

Assets

Impairment Loss/Reversal of impairment Loss on Available-

for-Sale Financial Assets recognised through Profit and Loss

Deficit/(Surplus) Change on Employee Retirement

(748,773)

528,027

(500,958)

747,642

Other Comprehensive Income /(Expense) for the period

(1,616,401)

(237,105)

581.72

30,468

1,023,306

(97.02)

Total Comprehensive Income /(Expense) for the period

2,968,319

940,742

215.53

10,528,869

2,781,444

278.54

Earnings Per Share

5.50

1.41

12.59

2.11

Group

Company

As at

31st March 2022

31st March 2021

31st March 2022

31st March 2021

Rs.

Rs.

Rs.

Rs.

ASSETS

Non-Current Assets

Property,Plant and Equipment

2,491,159

2,631,207

2,491,159

2,631,207

Non Current Financial Assets

1,970,962

1,439,537

2,051,962

1,520,536

Deferred Tax Assets

7,079,739

7,079,739

6,226,856

6,226,856

Total Non Current Assets

11,541,860

11,150,483

10,769,977

10,378,599

Current Assets

Inventories

4,970,889

4,109,184

4,970,889

4,109,184

Trade and Other Receivables

27,754,664

23,982,699

25,556,110

22,259,928

Related Company Balances

17,898,744

12,010,884

15,078,817

11,740,648

Income Tax Refund

0

757,703

0

647,052

Other Financial Assets

23,959,010

23,774,855

23,959,010

23,774,855

Cash and Cash Equivalents

4,604,293

1,106,929

3,107,163

735,061

Total Current Assets

79,187,600

65,742,254

72,671,989

63,266,728

TOTAL ASSETS

90,729,460

76,892,737

83,441,966

73,645,327

EQUITY AND LIABILITIES

Capital and Reserves

Stated Capital (833,560)

833,560

833,560

833,560

833,560

Other Components of Equity

1,722,796

1,191,370

1,722,796

1,191,370

Retained Earnings

48,185,835

34,807,984

43,034,762

33,037,319

Total Equity Attributable to Owners of the Com

50,742,191

36,832,914

45,591,118

35,062,249

Non Current Liabilities

Long Term Lease Liabilities

1,299,280

4,169,999

1,299,280

4,169,999

Retirement Benefit Obligation

3,407,600

3,420,342

2,696,836

2,640,794

Total Non Current Liabilities

4,706,880

7,590,341

3,996,116

6,810,793

Current Liabilities

Trade and Other Payables

29,061,959

25,607,090

28,262,466

24,913,672

Obligation Under Finance Lease

1,904,436

1,039,850

1,904,436

1,039,850

Related Company Balances

0

3,779

0

0

Bank Overdraft

0

5,592,627

5,592,627

Income Tax Liabilities

4,087,858

0

3,461,694

0

Other Loans

205,000

205,000

205,000

205,000

Provision for Warranty Obligations

21,136

21,136

21,136

21,136

Total Current liabilities

35,280,389

32,469,482

33,854,732

31,772,285

TOTAL EQUITY AND LIABILITIES

90,729,460

76,892,737

83,441,966

73,645,327

Net Asset Value Per Share

60.87

44.19

54.69

42.06

-

-

-

-

For Twelve Months Ended 31st March 2022

Group

Stated

Retained

Available for

Total

Capital

Earnings

Sale Reserve

Rs.

Rs.

Rs.

Rs.

Balance as at 01/04/2020

833,560

31,975,588

915,706

33,724,854

Profit/(Loss) for the period

0

2,115,533

0

2,115,533

Dividend

0

0

0

0

Other Comprehensive Income /(Expense) for the Year

0

716,863

275,664

992,527

Total Other Comprehensive Income /(Expense) for the Year

0

2,832,396

275,664

3,108,060

Balance as at 31/03/2021

833,560

34,807,984

1,191,370

36,832,914

Balance as at 01/04/2021

833,560

34,807,984

1,191,370

36,832,914

Profit/(Loss) for the period

0

13,694,758

0

13,694,758

Adjustment

0

0

0

0

Other Comprehensive Income /(Expense) for the Year

0

(316,907)

531,426

214,519

Total Other Comprehensive Income /(Expense) for the Year

0

13,377,851

531,426

13,909,277

Balance as at 31/03/2022

833,560

48,185,835

1,722,796

50,742,191

Company

Stated

Retained

Available for

Total

Capital

Earnings

Sale Reserve

Rs.

Rs.

Rs.

Rs.

Balance as at 01/04/2020

833,560

30,531,539

915,706

32,280,805

Profit/(Loss) for the period

0

1,758,138

0

1,758,138

Dividend

0

0

0

0

Other Comprehensive Income /(Expense) for the Year

0

747,642

275,664

1,023,306

Total Other Comprehensive Income /(Expense) for the Year

0

2,505,780

275,664

2,781,444

Balance as at 31/03/2021

833,560

33,037,319

1,191,370

35,062,249

Balance as at 01/04/2021

833,560

33,037,319

1,191,370

35,062,249

Profit/(Loss) for the period

0

10,498,401

0

10,498,401

Dividend

0

0

0

0

Other Comprehensive Income /(Expense) for the Year

0

(500,958)

531,426

30,468

Total Other Comprehensive Income /(Expense) for the Year

0

9,997,443

531,426

10,528,869

Balance as at 31/03/2022

833,560

43,034,762

1,722,796

45,591,118

Group

Company

Twelve

Twelve

Twelve

Twelve

Months Ended

Months Ended

Months Ended

Months Ended

31st March 2022

31st March 2021

31st March 2022

31st March 2021

Rs.

Rs.

Rs.

Rs.

Cash Flow From Operating Activities

Net Profit/(Loss) Before Taxation And Extraordinary Items

18,476,850

3,202,749

14,543,678

2,510,580

Adjustment for

Depreciation

820,048

1,254,714

820,048

1,254,714

Interest Cost

1,729,255

3,985,009

1,648,330

3,884,136

Provision For Gratuity

633,101

639,213

517,835

541,615

Operating Profit/(Loss) Before Working Capital Changes

21,659,254

9,081,685

17,529,891

8,191,045

Working Capital Adjustment

(Increase) / Decrease in Inventories

(861,705)

2,132,228

(861,705)

2,132,228

Increase / (Decrease) in Trade and Other Receivables

(6,795,943)

15,913,023

(2,833,286)

15,421,385

Increase /( Decrease) in Trade and Other Payables

(726,028)

(19,464,765)

(105,508)

(19,286,591)

(Increase) / Decrease in Related Party

(1,678,168)

980,110

(3,338,169)

2,089,573

Cash Generated From Operations

11,597,410

8,642,281

10,391,223

8,547,640

Income Tax Paid

0

0

0

0

Gratuity Paid

(962,750)

(858,750)

(962,750)

(858,750)

Net Cash Flows From Operating Activities

10,634,660

7,783,531

9,428,473

7,688,890

Cash Flow From Investing Activities

Purchase of Property, Plant And Equipment

(680,000)

(156,690)

(680,000)

(156,690)

O/Balance Adjustment

Net Cash Flow from Investing Activities

(680,000)

(156,690)

(680,000)

(156,690)

Cash Flow From Financing Activities

Finance Lease

864,586

0

864,586

0

Interest Cost

(1,729,255)

(3,985,009)

(1,648,330)

(3,884,136)

Net Cash Flows From Financing Activities

(864,669)

(3,985,009)

(783,744)

(3,884,136)

Net Increase/(Decrease) In Cash and Cash Equivalents

9,089,991

3,641,832

7,964,729

3,648,064

Cash and Cash Equivalents at the Beginning of the Year

(4,485,698)

(8,127,530)

(4,857,566)

(8,505,630)

Cash and Cash Equivalents at the End of the Year (Note A)

4,604,293

(4,485,698)

3,107,163

(4,857,566)

Note A - Cash and Cash Equivalents

Favourable Balances

Cash in hand and at Bank

4,604,293

1,106,929

3,107,163

735,061

Unfavourable Balances

Bank Overdraft

0

(5,592,627)

0

(5,592,627)

4,604,293

(4,485,698)

3,107,163

(4,857,566)

-

-

-

-