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.