Access Engineering PLC
Financial Statements
Nine Months Ended 31st December 2024
ACCESS ENGINEERING PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
NINE MONTHS ENDED 31ST DECEMBER 2024
Group | Company | |||||||||||||||||
Three months ended 31st December | Nine months ended 31st December | Three months ended 31st December | Nine months ended 31st December | |||||||||||||||
In LKR | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | ||||||||||
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |||||||||||
Revenue | 8,763,574,678 | 6,032,096,640 | 26,203,830,489 | 15,878,335,330 | 7,825,518,968 | 4,906,623,481 | 22,080,176,653 | 14,083,878,081 | ||||||||||
Cost of sales | (5,998,432,662) | (4,046,907,293) | (18,139,434,714) | (10,429,427,142) | (6,101,460,625) | (3,805,819,795) | (17,206,772,070) | (10,796,595,096) | ||||||||||
Gross profit | 2,765,142,016 | 1,985,189,347 | 8,064,395,775 | 5,448,908,188 | 1,724,058,343 | 1,100,803,686 | 4,873,404,583 | 3,287,282,985 | ||||||||||
Other income | 93,605,705 | 183,080,092 | 316,726,217 | 521,856,429 | 219,743,255 | 295,760,972 | 1,439,978,839 | 1,006,273,969 | ||||||||||
Administrative expenses | (626,222,237) | (493,040,733) | (1,637,305,091) | (1,445,605,955) | (290,350,450) | (267,658,018) | (762,944,541) | (695,837,861) | ||||||||||
Other expenses | (8,995,474) | (6,555,977) | (23,412,908) | (31,309,914) | (4,415,148) | (3,775,566) | (13,557,108) | (6,987,975) | ||||||||||
Operating profit | 2,223,530,010 | 1,668,672,729 | 6,720,403,993 | 4,493,848,748 | 1,649,036,000 | 1,125,131,074 | 5,536,881,773 | 3,590,731,119 | ||||||||||
Finance Cost | (474,880,839) | (705,816,517) | (1,441,741,105) | (2,111,496,168) | (320,467,031) | (499,409,536) | (974,625,626) | (1,674,161,736) | ||||||||||
Finance Income | 66,127,985 | 42,397,449 | 102,903,948 | 126,788,180 | 59,689,035 | 16,551,223 | 67,600,040 | 74,964,461 | ||||||||||
Share of results of equity-accounted investees, net of tax | (20,467,339) | 55,805,798 | 36,483,071 | 81,199,067 | - | - | - | - | ||||||||||
Profit before tax | 1,794,309,817 | 1,061,059,459 | 5,418,049,907 | 2,590,339,827 | 1,388,258,004 | 642,272,761 | 4,629,856,187 | 1,991,533,844 | ||||||||||
Income tax (expense) / reversal | (680,864,386) | (444,056,062) | (1,811,043,661) | 3,312,309,042 | (403,246,677) | (228,642,522) | (1,211,898,393) | (561,199,100) | ||||||||||
Profit for the period | 1,113,445,431 | 617,003,397 | 3,607,006,246 | 5,902,648,869 | 985,011,327 | 413,630,239 | 3,417,957,794 | 1,430,334,744 | ||||||||||
Profit attributable to: | ||||||||||||||||||
Equity holders of the parent | 1,116,966,435 | 622,189,753 | 3,540,649,241 | 5,915,767,125 | 985,011,327 | 413,630,239 | 3,417,957,794 | 1,430,334,744 | ||||||||||
Non-controlling interest | (3,521,004) | (5,186,356) | 66,357,005 | (13,118,256) | - | - | - | - | ||||||||||
Profit for the period | 1,113,445,431 | 617,003,397 | 3,607,006,246 | 5,902,648,869 | 985,011,327 | 413,630,239 | 3,417,957,794 | 1,430,334,744 | ||||||||||
Other comprehensive income | ||||||||||||||||||
Items that will not be reclassified to profit or loss in subsequent periods | ||||||||||||||||||
Remeasurement of defined benefit liability | (333,214) | (2,248,564) | (4,830,341) | (6,745,691) | (2,500,000) | (2,500,000) | (7,500,000) | (7,500,000) | ||||||||||
Revaluation of Land and Buildings | - | - | - | - | - | - | - | |||||||||||
Related tax | 99,965 | (900,862) | 1,449,103 | (2,250,000) | 750,000 | (2,950,000) | 2,250,000 | (2,250,000) | ||||||||||
Items that will be reclassified to profit or loss in subsequent periods | ||||||||||||||||||
Foreign currency translation difference of foreign operations | - | 345,441 | (452,978) | (3,018,688) | - | - | - | - | ||||||||||
Other comprehensive income for the period, net of tax | (233,249) | (2,803,985) | (3,834,216) | (12,014,379) | (1,750,000) | (5,450,000) | (5,250,000) | (9,750,000) | ||||||||||
Total comprehensive income for the period, net of tax | 1,113,212,182 | 614,199,412 | 3,603,172,030 | 5,890,634,490 | 983,261,327 | 408,180,239 | 3,412,707,794 | 1,420,584,744 | ||||||||||
Total comprehensive income attributable to; | . | |||||||||||||||||
Equity holders of the parent | 1,116,636,152 | 619,287,850 | 3,536,523,922 | 5,903,599,994 | 983,261,327 | 408,180,239 | 3,412,707,794 | 1,420,584,744 | ||||||||||
Non-controlling interest | (3,423,970) | (5,088,438) | 66,648,108 | (12,965,504) | - | - | - | - | ||||||||||
Total comprehensive income for the period, net of tax | 1,113,212,182 | 614,199,412 | 3,603,172,030 | 5,890,634,490 | 983,261,327 | 408,180,239 | 3,412,707,794 | 1,420,584,744 | ||||||||||
Basic earnings per share | 1.12 | 0.62 | 3.54 | 5.92 | 0.99 | 0.41 | 3.42 | 1.43 | ||||||||||
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.
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
STATEMENT OF CHANGES IN EQUITY
NINE MONTHS ENDED 31ST DECEMBER 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 | 29,556,925,248 | 2,415,064,093 | 31,971,989,341 | ||||||||
Profit for the year | - | - | - | 5,915,767,125 | 5,915,767,125 | (13,118,256) | 5,902,648,869 | ||||||||
Other comprehensive income for the year, net of tax | - | - | (3,018,688) | (9,148,442) | (12,167,130) | 152,751 | (12,014,379) | ||||||||
Total comprehensive income for the year | |||||||||||||||
- | - | (3,018,688) | 5,906,618,683 | 5,903,599,995 | (12,965,504) | 5,890,634,490 | |||||||||
Cash dividends | - | - | - | - | - | - | - | ||||||||
Balance at 31st December 2023 | 9,000,000,000 | 817,841,594 | (5,273,876) | 25,647,957,526 | 35,460,525,244 | 2,402,098,589 | 37,862,623,832 | ||||||||
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 | 38,243,040,975 | ||||||||
Profit for the year | - | - | - | 3,540,649,241 | 3,540,649,241 | 66,357,005 | 3,607,006,246 | ||||||||
Other comprehensive income for the year, net of tax | - | - | (452,978) | (3,672,342) | (4,125,318) | 291,103 | (3,834,216) | ||||||||
Total comprehensive income for the year | |||||||||||||||
- | - | (452,978) | 3,536,976,900 | 3,536,523,923 | 66,648,108 | 3,603,172,030 | |||||||||
Cash dividends | - | - | - | (2,000,000,000) | (2,000,000,000) | - | (2,000,000,000) | ||||||||
Balance at 31st December 2024 | 9,000,000,000 | 817,841,594 | (2,251,115) | 27,555,172,706 | 37,370,763,186 | 2,475,449,821 | 39,846,213,006 | ||||||||
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 | - | - | 1,430,334,744 | 1,430,334,744 | |||||||||||
Other comprehensive income for the year, net of tax | - | - | (9,750,000) | (9,750,000) | |||||||||||
Total comprehensive income for the year | |||||||||||||||
- | - | 1,420,584,744 | 1,420,584,744 | ||||||||||||
Cash dividends | - | - | - | - | |||||||||||
Balance at 31st December 2023 | 9,000,000,000 | 329,293,246 | 16,583,069,347 | 25,912,362,593 | |||||||||||
Balance at 1st April 2024 | 9,000,000,000 | 329,293,246 | 16,132,027,892 | 25,461,321,138 | |||||||||||
Profit for the year | - | - | 3,417,957,794 | 3,417,957,794 | |||||||||||
Other comprehensive income for the year, net of tax | - | - | (5,250,000) | (5,250,000) | |||||||||||
Total comprehensive income for the year | |||||||||||||||
- | - | 3,412,707,794 | 3,412,707,794 | ||||||||||||
Cash dividends | - | - | (2,000,000,000) | (2,000,000,000) | |||||||||||
Balance at 31st December 2024 | 9,000,000,000 | 329,293,246 | 17,544,735,686 | 26,874,028,932 |
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.
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
STATEMENT OF CASH FLOWS
NINE MONTHS ENDED 31ST DECEMBER 2024
Group | Company | ||||||||
For the Period ended 31st December | 2024 | 2023 | 2024 | 2023 | |||||
Unaudited | Unaudited | Unaudited | Unaudited | ||||||
In LKR | |||||||||
Cash flows from operating activities | |||||||||
Profit before tax | 5,418,049,907 | 2,590,339,827 | 4,629,856,187 | 1,991,533,844 | |||||
Adjustments for: | |||||||||
Depreciation of property plant and equipment | 793,766,082 | 825,822,145 | 599,234,624 | 634,821,723 | |||||
Depreciation of right- of - use assets | 63,166,591 | 128,180,758 | 3,598,987 | 22,927,956 | |||||
Amortisation and impairment of intangible assets | 6,309,818 | 14,758,820 | 4,163,665 | 10,730,684 | |||||
Provision for employee benefits | 59,504,641 | 49,537,868 | 46,029,285 | 31,034,386 | |||||
Impairment losses/ write-off of trade and other receivables/inventories | 5,052,968 | (19,149,155) | - | - | |||||
Gain on disposal of property, plant and equipment | (125,310,439) | (143,553,952) | (116,101,894) | (113,527,088) | |||||
Amortisation of government grant | (164,542) | (164,535) | - | - | |||||
Share of results of equity-accounted investees, net of tax | (36,483,071) | (81,199,067) | - | - | |||||
Dividend income from investments in subsidiaries | - | - | (1,442,554,335) | (437,830,345) | |||||
Net finance cost | 1,338,837,157 | 1,984,707,988 | 907,025,586 | 1,599,197,274 | |||||
Operating profit before working capital changes | 7,522,729,122 | 5,349,283,957 | 4,631,252,113 | 3,738,891,695 | |||||
Changes in: | |||||||||
Inventories | (3,216,227,901) | (2,683,920,478) | (216,692,551) | (74,989,632) | |||||
Trade and other receivables | (5,162,444,288) | (4,540,350,603) | (4,545,021,928) | (949,113,639) | |||||
Other current financial assets | (267,597,103) | 396,090,102 | (279,249,849) | 372,844,620 | |||||
Amounts due from related parties | 58,960,668 | (125,383,825) | (1,538,269,395) | 770,219,198 | |||||
Trade and other payables | 457,564,659 | 8,369,596,446 | 39,443,314 | 2,222,225,253 | |||||
Amounts due to related parties | (70,919,453) | 134,061,738 | 61,409,372 | (30,499,931) | |||||
Cash generated from/ (used in) operating activities | (677,934,296) | 6,899,377,336 | (1,847,128,923) | 6,049,577,564 | |||||
Finance cost paid | (1,394,147,926) | (2,056,746,742) | (945,376,483) | (1,588,163,441) | |||||
Income tax paid | (721,402,174) | (578,304,691) | (676,183,320) | (458,853,203) | |||||
Gratuity paid | (25,419,081) | (70,247,558) | (14,837,472) | (47,989,451) | |||||
Net cash flows generated from/ (used in) operating activities | (2,818,903,477) | 4,194,078,346 | (3,483,526,198) | 3,954,571,470 | |||||
Cash flows from investing activities | |||||||||
Purchase of property, plant and equipment | (1,847,496,301) | (56,214,978) | (191,153,710) | (8,829,046) | |||||
Right of use asset- Prepayment | (3,701,659) | - | (3,701,659) | (52,797,252) | |||||
Purchase of intangible assets | (2,362,500) | (3,350,291) | - | - | |||||
Disposal/(Purchase) to investment properties | (102,881,627) | - | 465,000,000 | - | |||||
Purchase of investment properties - work in progress | (1,756,005,394) | (4,070,927,652) | - | - | |||||
Proceeds from sale of property, plant and equipment | 127,237,449 | 157,611,459 | 116,101,964 | 114,055,870 | |||||
Investment in equity-accounted investees | - | (1,762,634,046) | - | (1,762,634,046) | |||||
Diversement in Equity-Accounted Investees | - | 540,000,000 | - | 540,000,000 | |||||
Investment in subsidiary | - | - | (85,000,000) | - | |||||
Investment in short term deposits | 1,403,383,214 | 468,779,284 | - | 1,500,000,000 | |||||
Dividend income from investments in subsidiaries | - | - | 1,442,554,335 | 437,830,345 | |||||
Dividend income from equity-accounted investees | - | - | - | - | |||||
Finance Income received | 116,353,819 | 318,765,942 | 67,600,040 | 268,881,711 | |||||
Net cash flows used in investing activities | (2,065,472,999) | (4,407,970,282) | 1,811,400,970 | 1,036,507,582 | |||||
Cash flows from financing activities | |||||||||
Dividends paid to equity holders of the parent | (2,000,000,000) | - | (2,000,000,000) | - | |||||
Proceeds from borrowings | 56,630,116,534 | 28,123,638,994 | 45,574,607,871 | 19,226,162,258 | |||||
Repayment of borrowings | (51,803,489,648) | (22,959,720,104) | (42,902,192,287) | (20,480,787,358) | |||||
Payment of lease liabilities | (39,339,360) | (44,203,900) | - | - | |||||
Net cash flows generated from/ (used in) financing activities | 2,787,287,526 | 5,119,714,990 | 672,415,584 | (1,254,625,100) | |||||
Increase in cash and cash equivalents | (2,097,088,951) | 4,905,823,058 | (999,709,644) | 3,736,453,955 | |||||
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 31st December | 1,160,045,398 | 3,840,824,885 | 662,309,228 | 2,320,943,011 |
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.
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
NINE MONTHS ENDED 31ST DECEMBER 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 Interim financial statements
Interim financial statements for the period ended 31st December 2024, includes "the Company" referring to Access Engineering PLC., as the holding company and "the Group" referring to the companies whose accounts have been consolidated therein.
03 Approval of financial statements
The interim financial statements of the Group and the Company for the period ended 31st December 2024 were authorized for issue by the Board of Directors on 13th February 2025.
04 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.
05 | Related party transactions | |||||
Group | Company | |||||
For the period ended 31st December | 2024 | 2023 | 2024 | 2023 | ||
Transactions with related parties | ||||||
In LKR | ||||||
Construction Income | - | 85,934,598 | 1,496,683,534 | 2,006,069,686 | ||
Sales of goods and other services | 16,718,824 | 16,217,039 | 72,635,805 | 936,311,790 | ||
Purchases of goods and other services | (130,807,521) | (73,192,437) | (116,840,118) | (162,841,722) | ||
Dividend income | - | - | 1,442,434,335 | 437,830,345 | ||
Investment in subsidiary | - | - | (85,000,000) | - | ||
Investment in joint venture | - | - | - | (1,762,634,046) | ||
Advance for investment in subsidiary | - | - | - | (761,985,707) | ||
Disposal of investment property | - | - | 465,000,000 | - | ||
Purchase of Property Plant & Equipment | (494,702,597) | - | - | - |
06 Other Information
06.1 Investment in Subsidiaries
The company has invested LKR 75 Mn in Access Medical Tracers (Private) Limited (AMTPL), which represents a 60% shareholding in
AMTPL.
The company has invested LKR 10 Mn in Access Engineering Port Services (Private) Limited (AEPS), which represents a 100% shareholding in AEPS.
07 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.
07.1 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.
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
NINE MONTHS ENDED 31ST DECEMBER 2024
08 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 roads, 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. | ||||||||||||||||
08.1 Business Segment | |||||||||||||||||
Construction | Construction related | Property | Automobile | Adjustments and | Group total | ||||||||||||
material | eliminations | ||||||||||||||||
For the period ended 31st December 2024 (unaudited) | |||||||||||||||||
In LKR | |||||||||||||||||
Revenue | |||||||||||||||||
External customers | 12,987,221,125 | 8,240,666,489 | 2,724,607,006 | 2,251,335,870 | - | 26,203,830,489 | |||||||||||
Inter segment | 1,498,713,588 | 124,088,011 | - | 21,733,238 | (1,644,534,837) | - | |||||||||||
Total revenue | 14,485,934,713 | 8,364,754,500 | 2,724,607,006 | 2,273,069,108 | (1,644,534,837) | 26,203,830,489 | |||||||||||
Segment operating profit | 3,504,386,532 | 1,982,721,920 | 2,229,077,349 | 502,873,504 | (1,498,655,313) | 6,720,403,993 | |||||||||||
Net finance income / (cost) | (688,690,615) | (255,508,690) | (295,181,298) | (99,456,553) | - | (1,338,837,157) | |||||||||||
Share of results of equity accounted investees, net of tax (Note | |||||||||||||||||
8.2 ) | - | - | - | - | 36,483,071 | 36,483,071 | |||||||||||
Income tax expense | (879,441,007) | (334,723,363) | (473,728,739) | (123,150,552) | - | (1,811,043,661) | |||||||||||
Segment profit / (loss) | 1,936,254,910 | 1,392,489,867 | 1,460,167,311 | 280,266,400 | (1,462,172,242) | 3,607,006,246 | |||||||||||
Capital expenditure | 147,845,598 | 44,087,044 | 2,827,332,384 | 1,156,697,590 | (467,216,794) | 3,708,745,822 | |||||||||||
Depreciation and amortisation | 445,234,061 | 201,484,286 | 46,280,034 | 97,464,393 | 9,613,127 | 800,075,901 | |||||||||||
As at 31st December 2024 (unaudited) | |||||||||||||||||
Segment assets | 54,675,190,798 | 5,868,856,422 | 73,772,440,545 | 4,359,505,635 | (32,436,582,783) | 106,239,410,618 | |||||||||||
Segment liabilities | 30,634,259,017 | 2,465,723,948 | 36,919,853,080 | 1,885,570,469 | (5,512,208,895) | 66,393,197,614 |
Construction related | Adjustments and | |||||||||||
Construction | material | Property | Automobile | eliminations | Group total | |||||||
For the year ended 31st December 2023 (unaudited) | ||||||||||||
In LKR | ||||||||||||
Revenue | ||||||||||||
External customers | 7,742,665,600 | 4,560,497,497 | 2,022,152,041 | 1,553,020,193 | - | 15,878,335,330 | ||||||
Inter segment | 1,920,135,088 | 809,285,081 | 65,871,581 | 7,274,453 | (2,802,566,204) | - | ||||||
Total revenue | 9,662,800,688 | 5,369,782,578 | 2,088,023,622 | 1,560,294,647 | (2,802,566,204) | 15,878,335,330 | ||||||
Segment operating profit | 2,673,746,427 | 908,520,214 | 1,328,441,293 | 157,206,657 | (574,065,844) | 4,493,848,748 | ||||||
Net finance income / (cost) | (1,213,266,332) | (433,352,770) | (269,887,255) | (78,067,411) | 9,865,781 | (1,984,707,988) | ||||||
Share of results of equity accounted investees, net of tax (Note | ||||||||||||
8.2 ) | - | - | - | - | 81,199,067 | 81,199,067 | ||||||
Income tax (expense) / reversal | (531,086,738) | (30,112,362) | 3,885,448,853 | (11,940,710) | - | 3,312,309,042 | ||||||
Segment profit / (loss) | 929,393,356 | 445,055,082 | 4,944,002,892 | 67,198,537 | (483,000,995) | 5,902,648,869 | ||||||
Capital expenditure | 8,893,046 | 331,000 | 4,232,496,055 | 36,680,821 | (147,908,002) | 4,130,492,921 | ||||||
Depreciation and amortisation | 494,603,018 | 204,750,732 | 43,115,924 | 85,676,076 | 12,435,216 | 840,580,965 | ||||||
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 |
08.2 Share of results of equity accounted investees, net of tax
For the year ended 31st December (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 | ||||||
56,609,639 | 85,704,122 | (20,126,567) | (4,505,055) | 36,483,071 | 81,199,067 | ||||||
56,609,639 | 85,704,122 | (20,126,567) | (4,505,055) | 36,483,071 | 81,199,067 | ||||||
Income tax expense and net finance income/ (cost) for the period ended 31st December 2024 and period ended 31st December 2023 have been allocated to above on a pro-rata basis, for a better presentation.
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
NINE MONTHS ENDED 31ST DECEMBER 2024
09 Share Information
09.1 Public Share Holdings
Percentage of shares held by the public and the number of public shareholders are as follows.
As at | 31st December 2024 |
Public shareholding (%) | 38.25 |
Number of public shareholders | 9,378 |
Compliant under option 1 - Float adjusted market capitalization (LKR Mn) | 13,197 |
09.2 Directors Share Holdings
The number of shares held by the Board of Directors as at 31st December 2024 are as follows.
Number of | % | |
Mr. S J S Perera | 250,000,000 | 25.00% |
Mr. J C Joshua | 102,000,000 | 10.20% |
Mr. S H S Mendis | 30,150,000 | 3.02% |
Mr. D A R Fernando | 30,150,000 | 3.02% |
Mr. S D Munasinghe | 30,150,000 | 3.02% |
Mr. S D Perera | 2,000,000 | 0.20% |
Mr. Shamal J S Perera | 51,159,365 | 5.12% |
Prof. K A M K Ranasinghe* | 100 | 0.00% |
Mr. N D Gunaratne* | Nil | Nil |
Mr. D S Weerakkody* | 30,597 | 0.00% |
C V Kulatilaka | Nil | Nil |
M J S Rajakariar | Nil | Nil |
R P Pathirana* | 500 | 0.00% |
- Mr.R P Pathirana was appointed as an Independent Non - Executive Director of the company with effect from 31st December 2024.
- Mr.N D Gunaratne was resigned as an Independent Non - Executive Director of the company with effect from 31st December 2024.
- Prof. K A M K Ranasinghe was resigned as an Independent Non - Executive Director of the company with effect from 31st December 2024.
- Mr. D S Weerakkody was resigned as an Senior Independent Non - Executive Director of the company with effect from 31st December 2024.
09.3 Twenty largest shareholders of the company as at 31st December 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% | |
8 | Mr. S.H.S. Mendis | 30,150,000 | 3.02% | |
7 | Mr. D.A.R. Fernando | 30,150,000 | 3.02% | |
9 | Mr. S.D. Munasinghe | 30,150,000 | 3.02% | |
10 | Panasia Banking Corporation Plc/Foresight Engineering Pvt Ltd | 30,000,000 | 3.00% | |
11 | Employee'S Provident Fund | 20,478,289 | 2.05% | |
12 | J.B. Cocoshell (Pvt) Ltd | 20,193,132 | 2.02% | |
13 | Access Medical (Pvt) Ltd | 13,000,000 | 1.30% | |
14 | Mr. M.J. Fernando (Deceased) | 12,138,117 | 1.21% | |
15 | Mercantile Investments And Finance PLC | 7,121,925 | 0.71% | |
16 | Mr. J.W. Nanayakkara & Mrs. H.D.Nanayakkara | 6,653,848 | 0.67% | |
17 | Union Assurance PLC-Universal Life Fund | 6,272,332 | 0.63% | |
18 | Invenco Capital Private Limited | 5,961,564 | 0.60% | |
19 | Mr. D.C. Joshua | 5,507,835 | 0.55% | |
20 | Deutsche Bank Ag As Trustee For Jb Vantage Value Equity Fund | 5,462,327 | 0.55% | |
773,598,734 | 77.36% | |||
Others | 226,401,266 | 22.64% | ||
Total | 1,000,000,000 | 100.00% | ||
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
NINE MONTHS ENDED 31ST DECEMBER 2024
09.4 Stated Capital
Stated Capital is represented by number of shares in issue as given below.
As at | 31st December 2024 | 31st March 2024 |
Ordinary Shares | 1,000,000,000 | 1,000,000,000 |
- Net assets per share
Net assets per share have been calculated, for all periods, based on the number of shares in issue as of 31 December 2024. - Market Price Per Share
2024/25 | 2023/24 | |
In LKR | 3rd Quarter | 3rd Quarter |
Highest | 35.60 | 20.90 |
Lowest | 23.00 | 17.50 |
Last Traded | 34.70 | 20.30 |
Debt Security related ratios | ||
For the period ended as at 31st December | 2024 | 2023 |
Debt to equity ratio (%) | 62 | 54 |
Quick assets ratio (times) | 1.24 | 1.09 |
Interest cover (times) | 5.75 | 2.19 |
- 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 31st December 2024 are as follows.
LKR | |
Hatton National Bank PLC | 1,095,259,346 |
Bank of Ceylon | 1,808,090,824 |
People's Bank | 184,945,579 |
Commercial Bank of Ceylon PLC | 158,779,844 |
Cargills Bank Limited | 1,220,084,657 |
Seylan Bank PLC | 1,853,554,217 |
DFCC Bank PLC | 264,640,000 |
Sampath Bank PLC | 313,013,742 |
6,898,368,208 | |
Corporate guarantee issued by Sathosa Motors PLC on behalf of Access Motors (Private) Limited is LKR 75 Mn and USD 125,000/- as at 31st December 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 14,6 Mn & LKR 1,150 Mn respectively.
09.9 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.
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024
ACCESS ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
NINE MONTHS ENDED 31ST DECEMBER 2024
CORPORATE INFORMATION | |
Name of Company | Directors |
Access Engineering PLC | S J S Perera - Chairman |
J C Joshua - Executive Vice Chairman | |
Registered office | D A R Fernando - Managing Director |
Access Engineering PLC | S H S Mendis |
Access Tower, | S D Munasinghe |
278, Union Place, | S D Perera |
Colombo 02. | Shamal J S Perera |
Tel: +94 11 7606606 | C V Kulatilaka |
Fax: +94 11 7606605 | M J S Rajakariar |
Web: www.accessengsl.com | R P Pathirana -appointed w.e.f. 31 December 2024 |
E-mail: investor.relations@accessengsl.com | Prof. K A M K Ranasinghe - resigned w.e.f. 31 December 2024 |
N D Gunaratne - resigned w.e.f. 31 December 2024 | |
Legal Form | D S Weerakkody - resigned w.e.f. 31 December 2024 |
A Public Limited Liability Company incorporated in Sri Lanka on 31st | |
July 2001 under the Companies Act | Audit Committee |
No. 17 of 1982 and Re-registered under the Companies Act No. 07 of | |
2007 on 06th February 2008. | M J S Rajakariar - Chairman |
C V Kulatilaka | |
Ordinary Voting Shares are listed on the Main Board of the Colombo | R P Pathirana |
Stock Exchange. | S D Perera |
Shamal J S Perera | |
Company Registration Number | |
P B 200 PQ | Remuneration Committee |
Bankers | R P Pathirana - Chairman |
Bank of Ceylon | M J S Rajakariar |
Sampath Bank PLC | C V Kulatilaka |
Hatton National Bank PLC | Shamal J S Perera |
Nations Trust Bank PLC | |
Commercial Bank of Ceylon PLC | Related Party Transactions Review Commitee |
DFCC Bank PLC | |
People's Bank | M J S Rajakariar - Chairman |
National Development Bank PLC | C V Kulatilaka |
Union Bank of Colombo PLC | R P Pathirana |
Cargills Bank Limited | D A R Fernando |
CAC International Bank | |
International Commercial Bank | |
Seylan Bank PLC | Nomination and Governance Committee |
Secretaries | C V Kulatilaka - Chairman |
P W Corporate Secretarial (Private) Limited | R P Pathirana |
No 3/17, Kynsey Road, | S J S Perera |
Colombo 08. | |
Tel: +94 11 4640360 | |
Fax: +94 11 4740588 | |
Registrars | |
Central Depository Systems (Pvt) Limited | |
Ground Floor, M & M Centre, 341/5, Kotte Road, | |
Rajagiriya | |
Tel: +94 11 2356444 | |
Fax: +94 11 2440396 |
Auditors
Messrs KPMG
Chartered Accountants
32A, Sir Mohamed Macan Markar Mawatha,
Colombo 03.
Tel: +94 11 2426426
Fax: +94 11 2445872
Access Engineering PLC - Interim Financial Statements for nine months ended 31st December 2024