Access Engineering PLC
Financial Statements
For the Six Months Ended 30 September 2024
ACCESS ENGINEERING PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
Group | Company | |||||||||||||||||
Quarter ended 30th September | Six months ended 30 September | Quarter ended 30th September | Six months ended 30 September | |||||||||||||||
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||
In LKR | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||||||
Revenue | 9,249,147,807 | 5,897,640,117 | 17,440,255,811 | 9,846,238,690 | 7,967,934,623 | 5,030,155,893 | 14,254,657,685 | 9,177,254,600 | ||||||||||
Cost of sales | (6,327,492,766) | (3,895,201,987) | (12,141,002,052) | (6,382,519,849) | (6,190,997,606) | (3,778,263,617) | (11,105,311,445) | (6,990,775,300) | ||||||||||
Gross profit | 2,921,655,041 | 2,002,438,130 | 5,299,253,759 | 3,463,718,841 | 1,776,937,017 | 1,251,892,276 | 3,149,346,240 | 2,186,479,300 | ||||||||||
Other income | 182,777,046 | 236,314,406 | 223,120,512 | 338,776,337 | 984,129,536 | 433,039,503 | 1,220,235,585 | 710,512,997 | ||||||||||
Administrative expenses | (524,665,301) | (500,024,467) | (1,011,082,852) | (952,565,222) | (252,270,306) | (230,210,512) | (472,594,091) | (428,179,843) | ||||||||||
Other expenses | (7,030,212) | (17,657,381) | (14,417,435) | (24,753,938) | (6,035,394) | (1,674,985) | (9,141,960) | (3,212,409) | ||||||||||
Operating profit | 2,572,736,574 | 1,721,070,688 | 4,496,873,984 | 2,825,176,018 | 2,502,760,853 | 1,453,046,282 | 3,887,845,774 | 2,465,600,045 | ||||||||||
Finance Cost | (491,114,071) | (716,403,971) | (966,860,266) | (1,405,679,651) | (333,684,677) | (560,842,789) | (654,158,595) | (1,174,752,199) | ||||||||||
Finance Income | 17,803,876 | 56,007,427 | 36,775,963 | 84,390,732 | 4,422,203 | 41,380,775 | 7,911,005 | 58,413,238 | ||||||||||
Share of results of equity-accounted investees, net of tax | 3,061,740 | 24,856,159 | 56,950,410 | 25,393,270 | - | - | - | - | ||||||||||
Profit before tax | 2,102,488,119 | 1,085,530,303 | 3,623,740,091 | 1,529,280,369 | 2,173,498,379 | 933,584,268 | 3,241,598,184 | 1,349,261,084 | ||||||||||
Income tax (expense) / reversal | (780,348,829) | 3,852,335,908 | (1,130,179,275) | 3,756,365,105 | (544,442,684) | (232,180,577) | (808,651,716) | (332,556,578) | ||||||||||
Profit/(Loss) for the period | 1,322,139,290 | 4,937,866,211 | 2,493,560,816 | 5,285,645,474 | 1,629,055,695 | 701,403,691 | 2,432,946,468 | 1,016,704,506 | ||||||||||
Profit attributable to: | ||||||||||||||||||
Equity holders of the parent | 1,302,628,709 | 4,933,318,767 | 2,423,682,807 | 5,293,577,373 | 1,629,055,695 | 701,403,691 | 2,432,946,468 | 1,016,704,506 | ||||||||||
Non-controlling interest | 19,510,581 | 4,547,444 | 69,878,009 | (7,931,899) | - | - | - | - | ||||||||||
Profit/(Loss) for the period | 1,322,139,290 | 4,937,866,211 | 2,493,560,816 | 5,285,645,474 | 1,629,055,695 | 701,403,691 | 2,432,946,468 | 1,016,704,506 | ||||||||||
` | ||||||||||||||||||
Other comprehensive income | ||||||||||||||||||
Items that will not be reclassified to profit or loss in subsequent periods | ||||||||||||||||||
Remeasurement of defined benefit liability | (1,610,112) | (2,202,963) | (3,220,227) | (4,497,127) | (2,500,000) | (2,500,000) | (5,000,000) | (5,000,000) | ||||||||||
Revaluation of Land and Buildings | - | - | - | - | - | - | - | - | ||||||||||
Related tax | 291,499 | 599,138 | 966,068 | 1,349,138 | 750,000 | 750,000 | 1,500,000 | 1,500,000 | ||||||||||
Items that will be reclassified to profit or loss in subsequent periods | ||||||||||||||||||
Foreign currency translation difference of foreign operations | 452,978 | (1,108,941) | 452,978 | (3,364,129) | - | - | - | - | ||||||||||
Other comprehensive income for the period, net of tax | (865,635) | (2,712,766) | (1,801,181) | (6,512,118) | (1,750,000) | (1,750,000) | (3,500,000) | (3,500,000) | ||||||||||
Total comprehensive income for the period, net of tax | 1,321,273,655 | 4,935,153,445 | 2,491,759,635 | 5,279,133,356 | 1,627,305,695 | 699,653,691 | 2,429,446,468 | 1,013,204,506 | ||||||||||
Total comprehensive income attributable to; | . | |||||||||||||||||
Equity holders of the parent | 1,301,666,039 | 4,930,575,536 | 2,421,687,557 | 5,287,010,422 | 1,627,305,695 | 699,653,691 | 2,429,446,468 | 1,013,204,506 | ||||||||||
Non-controlling interest | 19,607,616 | 4,577,909 | 70,072,078 | (7,877,066) | - | - | - | - | ||||||||||
Total comprehensive income for the period, net of tax | 1,321,273,655 | 4,935,153,445 | 2,491,759,635 | 5,279,133,356 | 1,627,305,695 | 699,653,691 | 2,429,446,468 | 1,013,204,506 | ||||||||||
Basic earnings per share | 1.30 | 4.93 | 2.42 | 5.29 | 1.63 | 0.70 | 2.43 | 1.02 | ||||||||||
The Accounting Policies and Notes form an integral part of these Financial Statements. | |
Figures in brackets indicate deductions. | |
The above figures are subject to the Audit. | 1 |
ACCESS ENGINEERING PLC
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
Attributable to equity holders of the parent | ||||||||||||||||
Group | Stated capital | Revaluation | Foreign currency | Retained earnings | Total | Non-controlling | Total equity | |||||||||
reserve | translation reserve | interests | ||||||||||||||
In LKR | ||||||||||||||||
As at 1st April 2023 | 9,000,000,000 | 817,841,594 | (2,255,188) | 19,741,338,842 | 29,556,925,249 | 2,415,064,093 | 31,971,989,341 | |||||||||
Profit/(Loss) for the year | - | - | - | 5,293,577,373 | 5,293,577,373 | (7,931,899) | 5,285,645,474 | |||||||||
Other comprehensive income for the year, net of tax | - | - | (3,364,129) | (3,202,823) | (6,566,952) | 54,833 | (6,512,119) | |||||||||
Total comprehensive income for the year | ||||||||||||||||
- | - | (3,364,129) | 5,290,374,550 | 5,287,010,421 | (7,877,066) | 5,279,133,355 | ||||||||||
Cash dividends | - | - | - | - | - | - | - | |||||||||
Balance at 30th September 2023 | 9,000,000,000 | 817,841,594 | (5,619,317) | 25,031,713,393 | 34,843,935,670 | 2,407,187,027 | 37,251,122,696 | |||||||||
Balance at 01st April 2024 | 9,000,000,000 | 817,841,594 | (1,798,137) | 26,018,195,806 | 35,834,239,263 | 2,408,801,713 | 38,243,040,976 | |||||||||
Profit/(Loss) for the year | - | - | - | 2,423,682,807 | 2,423,682,807 | 69,878,009 | 2,493,560,816 | |||||||||
Other comprehensive income for the year, net of tax | - | - | 452,978 | (2,448,228) | (1,995,250) | 194,069 | (1,801,181) | |||||||||
Total comprehensive income for the year | ||||||||||||||||
- | - | 452,978 | 2,421,234,579 | 2,421,687,557 | 70,072,078 | 2,491,759,635 | ||||||||||
Cash dividends | - | - | - | (1,000,000,000) | (1,000,000,000) | - | (1,000,000,000) | |||||||||
Balance at 30th September 2024 | 9,000,000,000 | 817,841,594 | (1,345,159) | 27,439,430,385 | 37,255,926,820 | 2,478,873,791 | 39,734,800,611 | |||||||||
Company | Stated capital | Revaluation | Retained earnings | Total equity | ||||||||||||
reserve | ||||||||||||||||
In LKR | ||||||||||||||||
As at 1st April 2023 | 9,000,000,000 | 329,293,246 | 15,162,484,603 | 24,491,777,849 | ||||||||||||
Profit for the year | - | - | 1,016,704,506 | 1,016,704,506 | - | 2 | ||||||||||
Other comprehensive income for the year, net of tax | - | - | (3,500,000) | (3,500,000) | ||||||||||||
Total comprehensive income for the year | ||||||||||||||||
- | - | 1,013,204,506 | 1,013,204,506 | |||||||||||||
Cash dividends | - | - | - | - | ||||||||||||
Balance at 30th September 2023 | 9,000,000,000 | 329,293,246 | 16,175,689,109 | 25,504,982,355 | ||||||||||||
Balance at 1st April 2024 | 9,000,000,000 | 329,293,246 | 16,132,027,892 | 25,461,321,138 | ||||||||||||
Profit for the year | - | - | 2,432,946,468 | 2,432,946,468 | ||||||||||||
Other comprehensive income for the year, net of tax | - | - | (3,500,000) | (3,500,000) | ||||||||||||
Total comprehensive income for the year | ||||||||||||||||
- | - | 2,429,446,468 | 2,429,446,468 | |||||||||||||
Cash dividends | - | - | (1,000,000,000) | (1,000,000,000) | ||||||||||||
Balance at 30th September 2024 | 9,000,000,000 | 329,293,246 | 17,561,474,360 | 26,890,767,606 |
The Accounting Policies and Notes form an integral part of these Financial Statements.
Figures in brackets indicate deductions.
The above figures are subject to the audit.
3
ACCESS ENGINEERING PLC
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
Group | Company | ||||||||
For the Period ended 30th September | 2024 | 2023 | 2024 | 2023 | |||||
Unaudited | Unaudited | Unaudited | Unaudited | ||||||
In LKR | |||||||||
Cash flows from operating activities | |||||||||
Profit before tax | 3,623,740,091 | 1,529,280,369 | 3,241,598,184 | 1,349,261,084 | |||||
Adjustments for: | |||||||||
Depreciation of property plant and equipment | 553,440,779 | 559,922,875 | 408,545,304 | 433,206,520 | |||||
Depreciation of right- of - use assets | 43,522,759 | 27,455,504 | 3,598,987 | - | |||||
Amortisation and impairment of intangible assets | 4,230,761 | 10,218,226 | 2,863,157 | 7,152,103 | |||||
Provision for employee benefits | 39,836,425 | 35,922,589 | 30,684,493 | 30,689,591 | |||||
Impairment losses/ write-off of trade and other receivables/inventories | 6,244,048 | (9,384,781) | - | - | |||||
Gain on disposal of property, plant and equipment | (63,015,554) | (136,611,288) | (60,294,795) | (113,452,089) | |||||
Amortisation of government grant | (109,696) | (109,696) | - | - | |||||
Share of results of equity-accounted investees, net of tax | (56,950,410) | (25,393,270) | - | - | |||||
Dividend income from investments in subsidiaries | - | - | (1,217,043,078) | (303,882,249) | |||||
Net finance cost | 930,084,303 | 1,321,288,919 | 646,247,589 | 1,116,338,961 | |||||
Operating profit before working capital changes | 5,081,023,506 | 3,312,589,447 | 3,056,199,841 | 2,519,313,920 | |||||
Changes in: | |||||||||
Inventories | (1,710,172,062) | (1,426,012,829) | (17,645,395) | 330,374,782 | |||||
Trade and other receivables | (3,855,266,685) | (3,953,339,184) | (3,950,026,325) | (2,115,468,285) | |||||
Other current financial assets | (99,426,562) | 446,030,694 | (103,102,844) | 417,866,404 | |||||
Amounts due from related parties | 63,260,519 | (7,249,014) | (492,798,354) | 559,797,071 | |||||
Trade and other payables | 1,310,181,278 | 6,378,793,211 | 1,299,611,772 | 2,425,527,314 | |||||
Amounts due to related parties | 60,517,606 | 159,995,639 | 62,687,258 | (17,063,638) | |||||
Cash generated from/ (used in) operating activities | 850,117,599 | 4,910,807,964 | (145,074,047) | 4,120,347,565 | |||||
Finance cost paid | (961,423,827) | (1,571,782,519) | (658,117,749) | (1,119,733,681) | |||||
Income tax paid | (569,442,121) | (444,277,483) | (527,428,488) | (381,375,585) | |||||
Gratuity paid | (19,219,233) | (56,051,699) | (10,146,125) | (41,184,813) | |||||
Net cash flows generated from/ (used in) operating activities | (699,967,582) | 2,838,696,264 | (1,340,766,409) | 2,578,053,487 | |||||
Cash flows from investing activities | |||||||||
Purchase of property, plant and equipment | (1,249,936,203) | (36,065,264) | (127,709,783) | (1,787,511) | |||||
Purchase of intangible assets | (2,362,500) | (2,777,744) | - | - | |||||
Right of use asset- Prepayment | (3,701,659) | (52,320,323) | (3,701,659) | (52,320,323) | |||||
Disposal/(Purchase) to investment properties | (118,045,631) | - | 465,000,000 | - | |||||
Purchase of investment properties - work in progress | (1,055,132,296) | (3,953,425,436) | - | - | |||||
Proceeds from sale of property, plant and equipment | 70,682,235 | 148,828,830 | 60,294,806 | 113,980,871 | |||||
Investment in Equity-Accounted Investees | - | (1,415,641,050) | - | (1,415,641,050) | |||||
Diversement in Equity-Accounted Investees | - | 540,000,000 | - | 540,000,000 | |||||
Investment in short term deposits | 1,367,892,637 | 922,319,905 | - | 852,836,000 | |||||
Dividend income from investments in subsidiaries | - | - | 1,217,043,078 | 303,882,249 | |||||
Finance Income received | 48,446,868 | 265,897,891 | 7,911,005 | 232,397,502 | |||||
Net cash flows used in investing activities | (942,156,550) | (3,583,183,191) | 1,618,837,447 | 573,347,739 | |||||
Cash flows from financing activities | |||||||||
Dividends paid to equity holders of the parent | (1,000,000,000) | - | (1,000,000,000) | - | |||||
Proceeds from borrowings | 36,752,109,397 | 22,539,832,140 | 27,454,607,871 | 15,176,162,258 | |||||
Repayment of borrowings | (34,889,831,031) | (17,948,447,366) | (27,160,341,943) | (16,226,133,034) | |||||
Payment of lease liabilities | (19,287,101) | (28,377,683) | - | - | |||||
Net cash flows generated from/ (used in) financing activities | 842,991,265 | 4,563,007,091 | (705,734,072) | (1,049,970,776) | |||||
Increase in cash and cash equivalents | (799,132,868) | 3,818,520,163 | (427,663,034) | 2,101,430,450 | |||||
Cash and cash equivalent at the beginning of the year | 3,257,134,349 | (1,064,998,173) | 1,662,018,872 | (1,415,510,944) | |||||
Cash and cash equivalent at 30th September | 2,458,001,481 | 2,753,521,990 | 1,234,355,838 | 685,919,506 |
The Accounting Policies and Notes form an integral part of these Financial Statements.
Figures in brackets indicate deductions.
The above figures are subject to the audit.
4
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
01 Corporate information
Access Engineering PLC ("Company") is a public limited liability company, incorporated and domiciled in Sri Lanka. The company's registered office and the principal place of business are located at "Access Towers", 278, Union Place, Colombo 02. The ordinary shares of the Company are listed at the Colombo Stock Exchange.
02 Approval of financial statements
The interim financial statements of the Group and the Company for the period ended 30th September 2024 were authorized for issue by the Board of Directors on 13th November 2024.
03 Basis of preparation
The interim financial statements of the Company have been prepared in accordance with Sri Lanka Accounting Standard - LKAS 34 - Interim
Financial Reporting, and provide the information as required in term of Rule 7.4 of the Colombo Stock Exchange.
The interim condensed consolidated financial statements should be read in conjunction with the annual financial statements for the year ended 31st March 2024.
04 | Related party transactions | |||||
Group | Company | |||||
For the period ended 30th September | 2024 | 2023 | 2024 | 2023 | ||
Transactions with related parties | ||||||
In LKR | ||||||
Construction Income | - | - | 863,003,340 | 1,278,801,679 | ||
Sales of goods and other services | 62,921,218 | 86,764,009 | 58,040,499 | 822,953,716 | ||
Purchases of goods and other services | (36,571,221) | (68,070,690) | (83,136,785) | (116,969,083) | ||
Dividend income | - | - | 1,217,043,078 | 303,882,249 | ||
Disposal of investment property | - | - | 465,000,000 | - | ||
Purchase of plant and equipment | (494,702,597) | - | - | - | ||
Investment in joint venture | - | - | - | (1,415,641,050) | ||
Advance for investment in subsidiary | - | - | - | (885,974,742) |
06 Other Information
-
Contingent liabilities
There were no changes in the nature of the contingent liabilities since the publication of Annual Report for the year ended 31st March 2024 except for the following: - Bank guarantees issued by the banks on behalf of the Company as at 30th September 2024 are as follows.
LKR | |
Bank of Ceylon | 2,160,566,638 |
People's Bank | 438,178,078 |
National Development Bank PLC | 1,095,259,346 |
Commercial Bank of Ceylon PLC | 366,366,081 |
Cargills Bank Limited | 1,202,254,720 |
Seylan Bank PLC | 2,222,121,921 |
DFCC Bank PLC | 264,640,000 |
Sampath Bank PLC | 315,629,818 |
8,065,016,602 | |
Corporate guarantee issued by Sathosa Motors PLC on behalf of Access Motors (Private) Limited is LKR 75 Mn and USD 125,000 as at 30th September 2024 for the purpose of working capital requirement.
Corporate guarantees issued by the company on behalf of Access Projects (Private) Limited, Sathosa Motors PLC,Harbour Village (Private) Limited, Access Logistic (Private) Limited and Access Logistic Park Ekala (Private) Limited for banking facilities are LKR 250Mn, LKR 500Mn, LKR 6,500Mn, LKR 850 Mn and USD 14,589,000/= & LKR 1,150 Mn respectively.
5
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
-
Comparative information
The presentation and classification of the Financial Statements of the previous years have been amended, where relevant for better presentation and to be comparable with those of the current year. - Fair value measurement and related fair value disclosures
The fair values of all the financial assets and financial liabilities recognized during the period were not materially different from the transaction prices at the date of initial recognition. There were no transfers between Level 1 and Level 2 and no transfers into or out of Level 3 categories as per the fair value hierarchy, during the period.
The fair value changes in financial instruments in Level 1 and Level 3 category were properly recorded in the statement of profit or loss and other comprehensive income as at reporting date. - Events after the reporting period
There have been no material events after the reporting date, that would require adjustments to or disclosure in the Financial Statements.
6
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
07 Segment information
Accounting Policy
The business segments are organised and managed separately according to the nature of the products and services provided. The primary segment reporting format is determined based on the products and services offered as the Group's risk and returns are affected predominantly by differences in the products and services offered.
As such for Management purposes, the Group is organised into business units based on their products and services and has four business segments as follows:
Business Segment | Operations | ||||||||||||||||
Construction | Process of constructing buildings and other infrastructures. | ||||||||||||||||
Construction-related materials | Production and supply of construction related material such as asphalt product, quarry products, crusher products, ready-mix concrete and | ||||||||||||||||
other construction material. | |||||||||||||||||
Property | Development of residential and commercial property for leasing, renting or sale in whole or in part. | ||||||||||||||||
Automobile | Importing and distribution or sale of three branded motor vehicles, spare parts and operating of work shops. | ||||||||||||||||
07.1 Business Segment | |||||||||||||||||
Construction related | Adjustments and | ||||||||||||||||
Construction | material | Property | Automobile | eliminations | Group total | ||||||||||||
For the period ended 30th September 2024 (unaudited) | |||||||||||||||||
In LKR | |||||||||||||||||
Revenue | |||||||||||||||||
External customers | 9,322,208,667 | 4,694,517,193 | 1,775,791,999 | 1,647,737,952 | - | 17,440,255,811 | |||||||||||
Inter segment | 863,003,340 | 51,825,976 | 42,707,634 | 18,369,479 | (975,906,429) | - | |||||||||||
Total revenue | 10,185,212,007 | 4,746,343,169 | 1,818,499,633 | 1,666,107,431 | (975,906,429) | 17,440,255,811 | |||||||||||
Segment operating profit | 2,549,239,686 | 1,317,161,868 | 1,449,216,405 | 404,217,426 | (1,222,961,401) | 4,496,873,984 | |||||||||||
Net finance income / (cost) | (480,052,351) | (192,973,819) | (188,860,511) | (68,197,621) | - | (930,084,303) | |||||||||||
Share of results of equity accounted investees, net of tax (Note | |||||||||||||||||
7.2 ) | - | - | - | - | 56,950,410 | 56,950,410 | |||||||||||
Income tax expense | (572,148,922) | (236,502,794) | (226,411,308) | (95,116,252) | - | (1,130,179,275) | |||||||||||
Segment profit / (loss) | 1,497,038,413 | 887,685,254 | 1,033,944,586 | 240,903,552 | (1,166,010,990) | 2,493,560,816 | |||||||||||
Capital expenditure | 125,818,667 | 2,173,972 | 1,186,832,123 | 1,111,995,556 | (1,343,688) | 2,425,476,630 | |||||||||||
Depreciation and amortisation | 328,779,199 | 133,839,426 | 25,666,391 | 63,468,204 | 5,918,320 | 557,671,540 | |||||||||||
As at 30 September 2024 (unaudited) | |||||||||||||||||
Segment assets | 52,584,676,025 | 6,739,065,029 | 70,061,984,167 | 4,528,146,509 | (31,224,060,312) | 102,689,811,416 | |||||||||||
Segment liabilities | 28,936,349,391 | 2,890,955,586 | 33,430,581,039 | 2,060,291,475 | (4,363,166,686) | 62,955,010,805 |
Construction related | Adjustments and | |||||||||||
Construction | material | Property | Automobile | eliminations | Group total | |||||||
For the year ended 30th September 2023 (unaudited) | ||||||||||||
In LKR | ||||||||||||
Revenue | ||||||||||||
External customers | 4,953,318,127 | 2,700,217,203 | 1,188,813,984 | 1,003,889,376 | - | 9,846,238,690 | ||||||
Inter segment | 1,280,743,101 | 631,595,989 | 36,610,497 | 3,664,795 | (1,952,614,381) | - | ||||||
Total revenue | 6,234,061,228 | 3,331,813,191 | 1,225,424,481 | 1,007,554,171 | (1,952,614,381) | 9,846,238,690 | ||||||
Segment operating profit | 2,063,278,611 | 381,580,877 | 677,427,087 | 99,671,814 | (396,782,372) | 2,825,176,018 | ||||||
Net finance income / (cost) | (1,026,437,965) | (125,074,132) | (85,712,120) | (90,679,604) | 6,614,903 | (1,321,288,919) | ||||||
Share of results of equity accounted investees, net of tax (Note | ||||||||||||
7.2 ) | - | - | - | - | 25,393,270 | 25,393,270 | ||||||
Income tax (expense) / reversal | (250,611,777) | (81,944,801) | 4,090,499,926 | (1,578,243) | - | 3,756,365,105 | ||||||
Segment profit / (loss) | 786,228,869 | 174,561,944 | 4,682,214,893 | 7,413,967 | (364,774,200) | 5,285,645,474 | ||||||
Capital expenditure | (229,325,526) | 231,702,916 | 4,056,398,193 | 21,731,138 | (88,238,276) | 3,992,268,444 | ||||||
Depreciation and amortisation | 340,802,509 | 133,853,806 | 28,268,577 | 58,485,390 | 8,730,820 | 570,141,101 | ||||||
As at 31st March 2024 (audited) | ||||||||||||
Segment assets | 50,899,350,601 | 5,721,648,436 | 68,913,593,776 | 3,877,748,548 | (30,880,043,135) | 98,532,298,225 | ||||||
Segment liabilities | 27,999,763,381 | 2,562,693,513 | 32,104,207,898 | 1,652,042,910 | (4,029,450,453) | 60,289,257,249 |
07.2 Share of results of equity accounted investees, net of tax
For the year ended 30th September (Unaudited) In LKR
Share of profit, net of tax
ZPMC Lanka Company (Private ) Limited | Blue Star Realties (Private) Limited | Total | |||||||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||
69,624,516 | 32,041,836 | (12,674,106) | (6,648,566) | 56,950,410 | 25,393,270 | ||||||
69,624,516 | 32,041,836 | (12,674,106) | (6,648,566) | 56,950,410 | 25,393,270 | ||||||
Income tax expense and net finance income/ (cost) for the period ended 30 September 2024 and period ended 30 September 2023 have been allocated to relevant segments on a reasonable basis, for a better presentation.
7
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
08 Share Information
08.1 Public Share Holdings
Percentage of shares held by the public and the number of public shareholders are as follows.
As at
Public shareholding (%)
Number of public shareholders
Compliant under option 2 - Float adjusted market capitalization (LKR Mn)
08.2 Directors Share Holdings
The number of shares held by the Board of Directors as at 30th September 2024 are as follows.
Number of Shares | % | |
Mr S J S Perera | 250,000,000 | 25.00% |
Mr. J C Joshua | 102,000,000 | 10.20% |
Mr. S H S Mendis | 27,450,000 | 2.75% |
Mr. D A R Fernando | 27,450,000 | 2.75% |
Mr. S D Munasinghe | 27,450,000 | 2.75% |
Mr. S D Perera | 2,000,000 | 0.20% |
Prof. K A M K Ranasinghe | 100 | 0.00% |
Mr. N D Gunaratne | Nil | Nil |
Mr. D S Weerakkody | 60,597 | 0.00% |
Mr. Shamal J S Perera | 51,159,365 | 5.12% |
Mr.Condagamage Vajira Kulatilaka was appointed as an Independent Non - Executive Director of the company with effect from 1st October 2024.
Mr.Manoha Jude Sergius Rajakariar was appointed as an Independent Non - Executive Director of the company with effect from 1st November 2024.
08.3 Twenty largest shareholders of the company as at 30th September 2024 are as follows.
Number of Shares | % | |||
1 | Mr Sumal.J.S. Perera | 250,000,000 | 25.00% | |
2 | Mr J.C. Joshua | 102,000,000 | 10.20% | |
3 | Mrs R.M.N. Joshua | 70,000,000 | 7.00% | |
4 | Mr Shamal J.S. Perera | 51,159,365 | 5.12% | |
5 | Mrs D.R.S. Malalasekera | 45,000,000 | 4.50% | |
6 | Access International (Pvt) Limited | 32,200,000 | 3.22% | |
7 | Panasia Banking Corporation Plc/Foresight Engineering Pvt Ltd | 30,000,000 | 3.00% | |
8 | Mr. S.D. Munasinghe | 27,450,000 | 2.75% | |
9 | Mr. S.H.S. Mendis | 27,450,000 | 2.75% | |
10 | Mr. D.A.R. Fernando | 27,450,000 | 2.75% | |
11 | Employee'S Provident Fund | 20,478,289 | 2.05% | |
12 | J.B. Cocoshell (Pvt) Ltd | 18,109,132 | 1.81% | |
13 | Mr. J.W. Nanayakkara & Mrs. H.D.Nanayakkara | 14,753,848 | 1.48% | |
14 | Confab Steel (Private) Limited | 13,619,851 | 1.36% | |
15 | Mercantile Investments And Finance Plc | 13,121,925 | 1.31% | |
16 | Access Medical (Pvt) Ltd | 13,000,000 | 1.30% | |
17 | Mr. M.J. Fernando (Deceased) | 12,138,117 | 1.21% | |
18 | Mr. R.P. Weerasooriya | 10,132,479 | 1.01% | |
19 | Mr. D.C. Joshua | 5,507,835 | 0.55% | |
20 | Deutsche Bank Ag As Trustee For Jb Vantage Value Equity Fund | 5,372,312 | 0.54% | |
788,943,153 | 78.89% | |||
Others | 211,056,847 | 21.11% | ||
Total | 1,000,000,000 | 100.00% | ||
8
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30TH SEPTEMBER 2024
08.4 Stated Capital
Stated Capital is represented by number of shares in issue as given below.
30th September 2024 | 31st March 2024 | |
As at | 1,000,000,000 | 1,000,000,000 |
Ordinary Shares | ||
08.5 Market price Per Share | 2024/25 | 2023/24 |
In LKR | 2nd Quarter | 2nd Quarter |
Highest | 24.2 | 20.5 |
Lowest | 19.4 | 16.6 |
Last Traded | 23.4 | 19.8 |
Debt Security related ratios | ||
30th September 2024 | 30th September 2023 | |
Debt to equity ratio (%) | 0.53 | 56 |
Quick assets ratio (times) | 1.17 | 0.96 |
Interest cover (times) | 5.96 | 2.15 |
9
| Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |