REGNIS (LANKA) PLC

INTERIM FINANCIAL STATEMENTS FOR THE

NINE MONTHS ENDED 31ST DECEMBER 2022

Interim Financial Statements For the Nine Months Ended 31st December 2022

STATEMENT OF FINANCIAL POSITION

Group

Group

Group

Company

Company

Company

As at

31-Dec.

31-Dec.

31-March

31-Dec.

31-Dec.

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

1,251,189

1,203,504

1,317,164

1,152,842

1,088,144

1,206,322

Right of use asset

19,570

1,230

33,119

-

-

-

Intangible Assets

32,915

37,207

36,134

21,622

24,512

23,790

Investments in Subsidiary

-

-

-

150,000

150,000

150,000

Investment in equity securities

27,602

25,477

27,280

27,602

25,477

27,280

Pre-paid operating leases

-

59,641

59,315

-

-

-

Other Receivables

709

2,088

6,375

400

1,353

1,076

Total Non-Current Asset

1,331,985

1,329,147

1,479,387

1,352,466

1,289,486

1,408,468

Current Assets

Inventories

2,268,855

1,857,697

1,721,406

1,652,877

1,336,810

1,196,117

Trade and Other Receivables

90,761

165,939

338,454

70,177

94,957

281,564

Amounts Due from Related Parties -Trade

712,558

916,849

1,327,196

577,212

589,820

1,006,223

Amounts Due from Related Parties - Non Trade

1,167

287

824

799

5,474

7,012

Income tax receivables

-

756

8,704

-

756

8,704

Prepayments

9,496

13,380

16,023

5,284

9,965

11,743

Cash & Cash Equivalents

4,900

9,715

10,146

4,590

9,578

8,275

Total current Assets

3,087,738

2,964,623

3,422,753

2,310,939

2,047,360

2,519,638

Total Assets

4,419,723

4,293,770

4,902,140

3,663,405

3,336,846

3,928,106

EQUITY AND LIABILITIES

Equity

Stated Capital

211,192

211,192

211,192

211,192

211,192

211,192

Reserves

482,264

463,428

573,530

482,264

463,428

573,530

Retained Earnings

1,062,081

1,080,976

1,064,463

820,062

852,049

833,158

Total Equity Attributable to Owners of the Company

1,755,537

1,755,597

1,849,185

1,513,518

1,526,669

1,617,880

Non-Current Liabilities

Deferred Tax Liabilities

273,747

144,425

171,139

269,650

139,709

165,322

Employee benefits

153,157

151,938

145,083

144,402

144,235

136,272

Lease liability

-

-

10,720

-

-

-

Total non-current liabilities

426,904

296,363

326,942

414,052

283,944

301,594

Current Liabilities

Trade and Other Payable

628,747

1,218,691

1,717,529

468,163

803,114

1,226,705

Amounts Due to Related Parties - Trade

469,430

144,939

131,172

436,448

152,794

214,689

Amounts Due to Related Parties -Non Trade

144,918

136,880

89,365

90,962

99,989

85,367

Provisions

60,077

64,448

56,728

43,799

47,465

38,361

Current tax liabilities

21,793

5,297

1,620

13,206

-

-

Dividends Payable

3,384

6,951

3,444

3,384

6,951

3,444

Lease liability

14,318

2,732

9,120

-

-

-

Loans Due to Related Parties

175,000

75,000

-

175,000

-

-

Loans and Borrowings

641,023

550,136

698,768

463,989

382,258

421,799

Bank overdraft

78,591

36,737

18,267

40,884

33,662

18,267

Total current liabilities

2,237,282

2,241,810

2,726,013

1,735,835

1,526,233

2,008,632

Total Liabilities

2,664,186

2,538,173

3,052,955

2,149,887

1,810,177

2,310,226

Total Equity and Liabilities

4,419,723

4,293,770

4,902,140

3,663,405

3,336,846

3,928,106

Net Assets per Share

77.90

77.90

82.06

67.16

67.74

71.79

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

6th February 2023 Colombo

REGNIS (LANKA) PLC 02

Interim Financial Statements For the Nine Months Ended 31st December 2022

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Group

Group

Company

Company

Group Variance

Company Variance

For the quarter ended 31st December

2022

2021

2022

2021

Vs

Vs

Prior Year

Prior Year

Note

RS'000

RS'000

RS'000

RS'000

RS'000

%

RS'000

%

Revenue

2.1

895,137

2,046,377

668,218

1,435,649

(1,151,241)

- 56

(767,431)

- 54

Cost of Sales

(820,014)

(1,960,188)

(611,959)

(1,378,780)

1,140,174

- 58

766,821

- 56

Gross Profit

75,123

86,189

56,259

56,869

(11,066)

- 13

(610)

- 1

Other Operating Income

14

79

14

79

(65)

- 82

(65)

- 82

Administrative Expenses

(5,334)

(6,632)

(4,565)

(5,238)

1,298

- 20

673

- 13

Selling & Distribution Expenses

(3,984)

(11,302)

(3,172)

(5,425)

7,318

- 65

2,253

- 42

Results from Operating Activities

65,819

68,334

48,536

46,285

(2,515)

- 4

2,251

+ 5

Finance Cost

> 100

> 100

(123,072)

(19,285)

(112,575)

(14,066)

(103,787)

(98,509)

Finance Income

67,853

11,844

68,844

2,258

56,009

> 100

66,586

> 100

Net Finance Cost

(55,219)

(7,441)

(43,731)

(11,808)

(47,778)

> 100

(31,923)

> 100

Profit Before Taxation

10,600

60,893

4,805

34,477

(50,293)

- 83

(29,672)

- 86

Taxation Expense

(32,819)

(11,445)

(28,294)

(6,000)

(21,374)

> 100

(22,294)

> 100

Profit / (Loss) for the Period

(22,219)

49,448

(23,489)

28,477

(71,667)

< 100

(51,966)

< 100

Other Comprehensive Income

Items that will not be reclassified

to profit or loss

Impact on deferred tax rate change on

revaluation reserve

(84,056)

-

(84,056)

-

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

159

44

159

44

Related Tax

(68)

(8)

(68)

(8)

Other Comprehensive Income / (Loss) net of tax

(83,965)

36

(83,965)

36

Total Comprehensive Income / (Loss)

(106,184)

49,484

(107,454)

28,513

Profit / (Loss) attributable to:

Owners of the Company

(22,219)

49,448

(23,489)

28,477

Non controlling interest

-

-

-

-

Profit / (Loss) for the period

(22,219)

49,448

(23,489)

28,477

Total Comprehensive Income /(Loss) attributable to:

Owners of the Company

(106,184)

49,484

(107,454)

28,513

Non controlling interest

-

-

-

-

Total Comprehensive Income /(Loss) for the period

(106,184)

49,484

(107,454)

28,513

Earnings /(Loss) per Share - Basic

(0.99) 2.19

(1.04) 1.26

Figures in brackets indicate deductions.

The above figures are provisional and subject to Audit.

Share Prices

Three Months Ended

Three Months

Ended

31st December 2022

31st December 2021

Highest

Rs.

54.90

Rs.

75.00

Lowest

Rs.

41.50

Rs.

60.00

Last Traded Price

Rs.

42.50

Rs.

65.30

REGNIS (LANKA ) PLC 03

Interim Financial Statements For the Nine Months Ended 31st December 2022

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Group

Group

Company

Company

Group Variance

Company Variance

Nine months ended 31st December

Dec. 2022

Dec. 2021

Dec. 2022

Dec. 2021

Vs

Vs

Prior Year

Prior Year

Note

RS'000

RS'000

RS'000

RS'000

RS'000

%

RS'000

%

Revenue

2.2

4,383,743

4,707,160

3,119,827

3,324,575

(323,417)

- 7

(204,748)

- 6

Cost of Sales

(3,945,307)

(4,590,630)

(2,771,748)

(3,252,618)

645,323

- 14

480,870

- 15

Gross Profit

438,436

116,530

348,079

71,957

321,906

> 100

276,122

> 100

Other Operating Income

154

4,523

154

130

(4,369)

- 97

24

+ 19

Administrative Expenses

(22,878)

(18,956)

(19,845)

(14,620)

(3,922)

+ 21

(5,225)

+ 36

Selling & Distribution Expenses

(19,390)

(27,558)

(11,430)

(14,000)

8,168

- 30

2,570

- 18

Results from Operating Activities

396,322

74,539

316,958

43,467

321,783

> 100

273,491

>100

Finance Cost

(332,607)

(46,790)

(270,314)

(34,811)

(285,818)

> 100

(235,503)

> 100

Finance Income

23,960

30,323

23,448

17,301

(6,362)

- 21

6,147

+ 36

Net Finance Cost

(308,647)

(16,467)

(246,866)

(17,510)

(292,180)

> 100

(229,356)

> 100

Profit Before Taxation

87,675

58,072

70,092

25,957

29,603

+ 51

44,135

> 100

Taxation Expense

(46,668)

(13,699)

(39,801)

(6,603)

(32,969)

> 100

(33,198)

> 100

Profit for the Period

41,007

44,373

30,291

19,354

(3,366)

- 8

10,937

+ 57

Other Comprehensive Income

Items that will not be reclassified

to profit or loss

Impact on deferred tax rate change on revaluation

(84,056)

-

(84,056)

-

reserve

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

322

172

322

172

Related Tax

(97)

(31)

(97)

(31)

Other Comprehensive Income/(loss) for the period,net of tax

(83,831)

141

(83,831)

141

Total Comprehensive Income/(Loss) for the period

(42,824)

44,514

(53,540)

19,495

Profit attributable to:

Owners of the Company

41,007

44,373

30,291

19,354

Non controlling interest

-

-

-

-

Profit for the period

41,007

44,373

30,291

19,354

Total Comprehensive Income/(Loss) attributable to:

Owners of the Company

(42,824)

44,514

(53,540)

19,495

Non controlling interest

-

-

-

-

Total Comprehensive Income/(Loss) for the period

(42,824)

44,514

(53,540)

19,495

Earnings per Share - Basic

1.82 1.97

1.34 0.86

Figures in brackets indicate deductions.

The above figures are provisional and subject to Audit.

Share Prices

Period Ended

Period Ended

31st December 2022

31st December 2021

Highest

Rs.

60.40

Rs.

83.00

Lowest

Rs.

35.00

Rs.

44.00

Last Traded Price

Rs.

42.50

Rs.

65.30

REGNIS (LANKA ) PLC 04

Interim Financial Statements For the Nine Months Ended 31st December 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

Total comprehensive Income

Profit for nine months 31st December 2021

-

-

-

44,373

44,373

Other comprehensive income

Change of fair value of FVOCI Investment

-

-

172

-

172

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

-

-

(31)

-

(31)

Other comprehensive income for the period

-

-

141

-

141

Total comprehensive income for the period

-

-

141

44,373

44,514

Realisation of revaluation surplus

-

(4,167)

-

4,167

-

Balance as at 31st December 2021

211,192

456,498

6,930

1,080,976

1,755,597

Total comprehensive Income

Loss for three month 31st March 2022

-

-

-

(17,277)

(17,277)

Other comprehensive income

Re-measurement of defined benefit obligation

-

-

-

(763)

(763)

Change of fair value of FVOCI Investment

-

-

1,803

-

1,803

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

-

-

(325)

-

(325)

Deferred tax on revaluation

-

(24,149)

-

-

(24,149)

Total other comprehensive income, net of tax

-

110,012

1,478

(626)

110,865

Total comprehensive income, net of tax

-

110,012

1,478

(17,903)

93,588

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

-

(1,389)

-

1,389

-

Balance as at 31st March 2022

211,192

565,121

8,409

1,064,463

1,849,185

Charge Relating to Surcharge Tax (Note 7)

(50,823)

(50,823)

Adjusted Balance as at 1st April 2022

211,192

565,121

8,409

1,013,640

1,798,362

Total comprehensive Income

Profit for nine months 31st December 2022

-

-

-

41,007

41,007

Other comprehensive Income

Change of fair value of FVOCI Investment

-

-

322

-

322

Related taxes

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

-

-

(97)

-

(97)

Impact on deferred tax rate change on revaluation reserve

-

(84,056)

-

(84,056)

Other comprehensive income for the period

-

(84,056)

225

-

(83,831)

Total comprehensive income for the period

-

(84,056)

225

41,007

(42,824)

Transaction with owners of the company, recognised directly in equity

Realisation of revaluation surplus

-

(7,435)

-

7,435

-

Balance as at 31st December 2022

211,192

473,630

8,634

1,062,081

1,755,538

REGNIS (LANKA) PLC 05

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Regnis Lanka plc published this content on 06 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 February 2023 13:39:10 UTC.