REGNIS (LANKA) PLC

INTERIM FINANCIAL STATEMENTS FOR THE

THREE MONTHS ENDED 30TH JUNE 2022

Interim Financial Statements For the Three Months Ended 30th June 2022

STATEMENT OF FINANCIAL POSITION

Group

Group

Group

Company

Company

Company

As at

30-June

30-June

31-March

30-June

30-June

31-March

2022

2021

2022

2022

2021

2022

ASSETS

Rs'000

Rs'000

Rs'000

Rs'000

Rs'000

Rs'000

Non-Current Assets

Property,Plant and Equipment

1,293,681

1,203,984

1,317,164

1,187,026

1,122,930

1,206,322

Right of use asset

28,603

8,612

33,119

-

-

-

Intangible Assets

35,061

36,361

36,134

23,067

22,965

23,790

Investments in Subsidiary

-

-

-

150,000

150,000

150,000

Investment in equity securities

27,390

25,341

27,280

27,390

25,341

27,280

Pre-paid operating leases

58,990

60,291

59,315

-

-

-

Other Receivables

1,133

3,989

6,375

824

2,977

1,076

Total Non-Current Asset

1,444,858

1,338,577

1,479,387

1,388,307

1,324,213

1,408,468

Current Assets

Inventories

2,066,793

1,924,968

1,721,406

1,423,980

1,415,897

1,196,117

Trade and Other Receivables

106,482

68,878

338,454

94,055

47,604

281,564

Amounts Due from Related Parties -Trade

1,186,723

668,712

1,327,196

900,138

515,924

1,006,223

Amounts Due from Related Parties - Non Trade

121,763

435

824

5,557

3,377

7,012

Income tax receivables

15,989

7,677

8,704

15,989

7,677

8,704

Prepayments

14,268

27,429

16,023

9,700

23,315

11,743

Cash & Cash Equivalents

33,861

7,350

10,146

33,811

5,358

8,275

Total current Assets

3,545,879

2,705,449

3,422,753

2,483,230

2,019,152

2,519,638

Total Assets

4,990,737

4,044,026

4,902,140

3,871,537

3,343,365

3,928,106

EQUITY AND LIABILITIES

Equity

Stated Capital

211,192

211,192

211,192

211,192

211,192

211,192

Reserves

571,142

466,096

573,530

571,141

466,095

573,530

Retained Earnings

977,640

960,510

1,013,640

747,529

759,263

782,335

Total Equity Attributable to Owners of the Company

1,759,974

1,637,798

1,798,362

1,529,862

1,436,550

1,567,057

Non-Current Liabilities

Deferred Tax Liabilities

166,391

147,055

171,139

163,636

141,825

165,322

Employee benefits

148,090

149,109

145,083

139,164

141,576

136,272

Lease liability

6,194

-

10,720

-

-

-

Total non-current liabilities

320,675

296,164

326,942

302,800

283,401

301,594

Current Liabilities

Trade and Other Payable

1,869,326

1,074,079

1,768,352

1,402,553

794,576

1,277,528

Amounts Due to Related Parties - Trade

203,286

25,911

131,172

194,763

115,798

214,689

Amounts Due to Related Parties -Non Trade

113,219

67,268

89,365

81,781

53,590

85,367

Provisions

39,951

32,754

56,728

20,683

19,636

38,361

Current tax liabilities

2,904

3,634

1,620

-

-

-

Dividends Payable

3,385

7,234

3,444

3,385

7,234

3,444

Lease liability

11,846

10,643

9,120

-

-

-

Loans Due to Related Parties

200,000

75,000

-

200,000

-

-

Loans and Borrowings

434,204

758,257

698,768

135,710

603,795

421,799

Bank overdraft

31,967

55,284

18,267

-

28,785

18,267

Total current liabilities

2,910,088

2,110,064

2,776,836

2,038,875

1,623,414

2,059,455

Total Liabilities

3,230,763

2,406,228

3,103,778

2,341,675

1,906,815

2,361,049

Total Equity and Liabilities

4,990,737

4,044,026

4,902,140

3,871,537

3,343,365

3,928,106

Net Assets per Share

78.10

72.68

79.80

67.89

63.75

69.54

I certify that the financial statements of the company comply with the requirements of the Companies Act No 7 of 2007.

Sgd.

Kanchana Atukorala

Chief Financial Officer

Figures in brackets indicate deductions.

The above figures are provisional and subject to Audit.

The Board of directors is responsible for the preperation and presentation of these financial statements.

Signed for and on behalf of the board,

Sgd.

Sgd.

M.H.Wijewardene

K.D Kospelawatta

Director

Director

8th August 2022

Colombo

REGNIS (LANKA)

PLC 02

Interim Financial Statements For the Three Months Ended 30th June 2022

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Group

Group

Company

Company

Group Variance

Company Variance

Three months ended 30th June

June 2022

June 2021

June 2022

June 2021

Vs

Vs

Prior Year

Prior Year

Note

RS'000

RS'000

RS'000

RS'000

RS'000

%

RS'000

%

Revenue

2.1

2,057,430

1,230,609

1,415,317

874,800

826,821

+ 67

540,517

+ 62

Cost of Sales

(1,807,810)

(1,238,724)

(1,224,410)

(884,179)

(569,086)

+ 46

(340,231)

+ 39

Gross Profit / (Loss)

249,620

(8,115)

190,907

(9,379)

257,735

>100

200,286

> 100

Other Operating Income

79

4,429

79

36

(4,350)

- 98

43

> 100

Administrative Expenses

(7,154)

(6,421)

(6,179)

(5,009)

(733)

+ 11

(1,170)

+ 23

Selling & Distribution Expenses

(11,070)

(8,556)

(4,486)

(4,428)

(2,514)

+ 29

(58)

+ 1

Results from Operating Activities

231,475

(18,663)

180,321

(18,780)

250,138

>100

199,101

> 100

Finance Cost

(290,216)

(14,901)

(235,933)

(8,389)

(275,315)

>100

(227,544)

> 100

Finance Income

11,115

9,087

9,338

5,285

2,028

+ 22

4,053

+ 77

Net Finance Cost

(279,101)

(5,814)

(226,595)

(3,104)

(273,287)

> 100

(223,491)

> 100

Profit / (Loss) Before Taxation

(47,626)

(24,477)

(46,274)

(21,884)

(23,149)

- 95

(24,390)

< 100

Taxation (Expense)/Reversal

9,148

1,985

8,989

2,053

7,163

>100

6,936

> 100

Loss for the period

(38,478)

(22,492)

(37,285)

(19,831)

(15,986)

+ 71

(17,454)

+ 88

Other Comprehensive Income

Items that may be reclassified subsequently to profit or loss

Net change in fair value of equity securities - FVOCI

Change of fair value of FVOCI Investment

110

37

110

37

Related Tax

(20)

(7)

(20)

(7)

Other Comprehensive Income for the period,net of tax

90

30

90

30

Total Comprehensive Income for the period

(38,388)

(22,462)

(37,195)

(19,801)

Profit / (Loss) attributable to:

Owners of the Company

(38,478)

(22,492)

(37,285)

(19,831)

Non controlling interest

-

-

-

-

Profit / (Loss) for the period

(38,478)

(22,492)

(37,285)

(19,831)

Total Comprehensive Income attributable to:

Owners of the Company

(38,388)

(22,462)

(37,195)

(19,801)

Non controlling interest

-

-

-

-

Total Comprehensive Income for the period

(38,388)

(22,462)

(37,195)

(19,801)

Earnings / (loss) per Share - Basic

(1.71)

(1.00)

(1.65)

(0.88)

Figures in brackets indicate deductions.

The above figures are provisional and subject to Audit.

Share Prices

Period Ended

Period Ended

30th June 2022

30th June 2021

Highest

Rs.

56.50

Rs.

74.30

Lowest

Rs.

35.00

Rs.

44.00

Last Traded Price

Rs.

49.90

Rs.

68.40

REGNIS (LANKA ) PLC 03

Interim Financial Statements For the Three Months Ended 30th June 2022

STATEMENT OF CHANGES IN EQUITY

Stated

Revaluation

FVOCI

Retained

Capital

Reserve

Earnings

Total

Group

Rs'000

Rs'000

Rs'000

Rs'000

Rs'000

Balance as at 31st March 2021

211,192

460,665

6,789

1,032,436

1,711,083

Charge Relating to Surcharge Tax (Note 7)

-

-

-

(50,823)

(50,823)

Adjusted Balance as at 1st April 2021

211,192

460,665

6,789

981,613

1,660,260

Total comprehensive Income

Loss for the three months 30th June 2021

-

-

-

(22,492)

(22,492)

Other comprehensive income

Change of fair value of FVOCI Investment

-

-

37

-

37

Deffered tax on equity investments at FVOCI - change in fair value

-

-

(7)

-

(7)

Other comprehensive income for the period

-

-

30

-

30

Total comprehensive Income for the period

-

-

30

(22,492)

(22,462)

Realisation of revaluation surplus

-

(1,389)

-

1,389

-

Balance as at 30th June 2021

211,192

459,276

6,819

960,510

1,637,798

Total comprehensive Income

Profit for nine months 31st March 2022

-

-

-

49,588

49,588

Other comprehensive income

Re-measurement of defined benefit obligation

-

-

-

(763)

(763)

Change of fair value of FVOCI Investment

-

-

1,938

-

1,938

Surplus on revaluation of land and building

-

134,161

-

-

134,161

Related taxes

Deferred tax on re-measurement on defined benefit obligation

-

-

-

137

137

Deferred tax on equity investments at FVOCI - change in fair value

-

-

(349)

-

(349)

Deffered tax on revaluation

-

(24,149)

-

-

(24,149)

Total other comprehensive income, net of tax

-

110,012

1,590

(626)

110,976

Total comprehensive income, net of tax

-

110,012

1,590

48,963

160,564

Transaction with owners of the company, recognised directly in equity

Final dividend 2021/22

-

-

-

-

-

Total transaction with owners of the company

-

-

-

-

-

Realisation of revaluation surplus

-

(4,167)

-

4,167

-

Balance as at 31st March 2022

211,192

565,121

8,409

1,013,640

1,798,362

Total comprehensive Income

Loss for the three months 30th June 2022

-

-

-

(38,478)

(38,478)

Other comprehensive Income

Change of fair value of FVOCI Investment

-

-

110

-

110

Related taxes

-

Deferred tax on equity investments at FVOCI - change in fair value

-

-

(20)

-

(20)

Other comprehensive income for the period

-

-

90

-

90

Total comprehensive income for the period

-

-

90

(38,478)

(38,388)

Realisation of revaluation surplus

-

(2,478)

-

2,478

-

Balance as at 30th June 2022

211,192

562,643

8,499

977,640

1,759,974

REGNIS (LANKA) PLC 04

Interim Financial Statements For the Three Months Ended 30th June 2022

STATEMENT OF CHANGES IN EQUITY

Stated

Revaluation

FVOCI

Retained

Capital

Reserve

Earnings

Total

Company

Rs'000

Rs'000

Rs'000

Rs'000

Rs'000

Balance as at 31st March 2021

211,192

460,665

6,789

828,528

1,507,174

Charge Relating to Surcharge Tax (Note 7)

-

-

-

(50,823)

(50,823)

Adjusted Balance as at 1st April 2021

211,192

460,665

6,789

777,705

1,456,351

Total comprehensive Income

Loss for the three months 30th June 2021

-

-

-

(19,831)

(19,831)

Other comprehensive income

Change of fair value of FVOCI Investment

-

-

37

-

37

Deffered tax on equity investments at FVOCI - change in fair value

-

-

(7)

-

(7)

Other comprehensive income for the period

-

-

30

-

30

Total comprehensive Income for the period

-

-

30

(19,831)

(19,801)

Realisation of revaluation surplus

-

(1,389)

-

1,389

-

Balance as at 30th June 2021

211,192

459,276

6,819

759,263

1,436,550

Total comprehensive Income

Profit for nine months 31st March 2022

-

-

-

18,988

18,988

Other comprehensive income

Re-measurement of defined benefit obligation

-

-

-

(100)

(100)

Change of fair value of FVOCI Investment

-

-

1,938

-

1,938

Surplus on revaluation of land and building

-

134,161

-

-

134,161

Related taxes

Deferred tax on re-measurement on defined benefit obligation

-

-

-

18

18

Deferred tax on equity investments at FVOCI - change in fair value

-

-

(349)

-

(349)

Deffered tax on revaluation

-

(24,149)

-

-

(24,149)

Total other comprehensive income, net of tax

-

110,012

1,589

(82)

111,519

Total comprehensive income, net of tax

-

110,012

1,589

18,906

130,507

Transaction with owners of the company, recognised directly in equity

Final dividend 2021/22

-

-

-

-

-

Total transaction with owners of the company

-

-

-

-

-

Realisation of revaluation surplus

-

(4,167)

-

4,167

-

Balance as at 31st March 2022

211,192

565,121

8,408

782,336

1,567,057

Total comprehensive Income

Loss for the three months 30th June 2022

-

-

-

(37,285)

(37,285)

Other comprehensive Income

Change of fair value of FVOCI Investment

-

-

110

-

110

Related taxes

-

Deferred tax on equity investments at FVOCI - change in fair value

-

-

(20)

-

(20)

Other comprehensive income for the period

-

-

90

-

90

Total comprehensive income for the period

-

-

90

(37,285)

(37,195)

Transaction with owners of the company, recognised directly in

equity

Realisation of revaluation surplus

-

(2,478)

-

2,478

-

Balance as at 30th June 2022

211,192

562,643

8,498

747,529

1,529,862

REGNIS (LANKA) PLC 05

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Regnis Lanka plc published this content on 08 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 August 2022 11:24:10 UTC.