Acl Cables PlcCSELK: ACL.N0000

Quarterly Financial Statement as at 31.03.2025

May 30, 2025 at 10:34 AM UTC · Issued by Acl Cables Plc

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

UNAUDITED

ACL CABLES PLC (PQ 102)

ACL CABLES PLC

STATEMENT OF PROFIT OR LOSS - GROUP

(all amounts in Sri Lanka Rupees thousands)

For the year ended

Revenue from contracts with customers Cost of Sales

Gross Profit Other income Distribution costs

Administrative costs

Operating Profit

Net Finance income / (costs)

Share of (loss)/profit of investments accounted for using the equity method

Profit Before Income Tax

Income tax expenses Profit for the Year Profit attributable to :

Owners of the parent
Non-controlling interests

Earnings per share (Rs.)

Unaudited

Quarter ended 31 March		Year ended 31 March
2025	2024	2025	2024 (Audited)
9,899,489	7,720,195	37,506,238	29,196,329
(7,295,181)	(5,764,868)	(27,213,074)	(22,052,955)
2,604,307	1,955,326	10,293,164	7,143,374
138,839	94,458	183,206	202,764
(537,007)	(443,637)	(1,890,550)	(1,464,278)
(283,039)	(328,597)	(1,079,348)	(1,062,378)
1,923,101	1,277,550	7,506,472	4,819,482
240,471	(407,621)	416,847	(278,142)
(12,940)	60,550	68,454	121,587
2,150,632	930,479	7,991,773	4,662,927
(618,209)	(169,288)	(2,409,943)	(1,217,107)
1,532,423	761,191	5,581,830	3,445,820
1,325,149	645,351	4,744,794	2,858,432
207,274	115,840	837,035	587,388
1,532,423	761,191	5,581,830	3,445,820
5.53	2.69	19.81	11.93

ACL CABLES PLC

STATEMENT OF PROFIT OR LOSS -COMPANY

Quarter ended 31 March		Year ended 31 March
2025	2024	2025	2024 (Audited)
4,380,498	3,690,665	17,339,949	13,889,096
(3,369,337)	(3,025,421)	(13,231,935)	(11,208,366)
1,011,161	665,244	4,108,014	2,680,730
73,357	46,494	411,193	284,929
(194,544)	(195,557)	(871,347)	(595,792)
(63,004)	(69,059)	(266,008)	(253,624)
826,970	447,122	3,381,852	2,116,243
30,420	(185,842)	(54,300)	(483,977)
857,390	261,280	3,327,552	1,632,266
(235,368)	(45,797)	(893,842)	(238,123)
622,022	215,483	2,433,710	1,394,141
2.60	0.90	10.16	5.82

(all amounts in Sri Lanka Rupees thousands)

For the year ended

Unaudited

Revenue from contracts with customers Cost of Sales

Gross Profit Other income Distribution costs

Administrative costs

Operating Profit

Net Finance income / (costs) Profit Before Income Tax Income tax expenses

Profit for the Year Earnings per share (Rs.)

ACL CABLES PLC

STATEMENT OF COMPREHENSIVE INCOME

Unaudited

(all amounts in Sri Lanka Rupees thousands)

Quarter ended 31 March		Year ended 31 March
2025	2024	2025	2024
1,532,423	761,191	5,581,830	3,445,820
16,445	6,013	48,150	11,353
-	880,860	-	770,006
-	3,109	-	1,592
-	-	-	-
(677)	(538)	(677)	(538)
25,189	(112,957)	(27,810)	(211,014)
40,957	776,487	19,663	571,398

1,573,379	1,537,677	5,601,492	4,017,218
1,353,531 219,848	1,349,418 188,259	4,768,402 833,090	3,423,876 593,342
1,573,379	1,537,677	5,601,492	4,017,218

Group

For the year ended

Profit for the year

Other comprehensive income/(expenses)

Fair value adjustment for FA at fair value through OCI (net of tax)

Gain on revaluation of land and building (net of tax)

Re-Measurement of defined benefit obligations (net of tax)

Share of other comprehensive income of equity accounted investee, net of tax Currency translation difference

Other comprehensive income, net of tax

Total comprehensive income, net of tax Total comprehensive income attributable to:

Owners of the parent
Non-controlling interests

Total comprehensive income, net of tax

Quarter ended 31 March		Year ended 31 March
2025	2024	2025	2024
622,022	215,483	2,433,710	1,394,141
15,779	1,571	20,126	3,244
-	420,969	-	420,969
-	3,109	-	2,176
-	-	-	(126,291)
15,779	425,649	20,126	300,100

637,801	641,132	2,453,836	1,694,241

COMPANY

For the year ended

Profit for the Year

Other comprehensive income/(expenses)

Fair value adjustment for FA at fair value through OCI

Gain on revaluation of land and building (net of tax) Re-Measurement of defined benefit obligations

Tax impact on re-measurement of defined benefit obligations

Other comprehensive income, net of tax

Total comprehensive income, net of tax

ACL CABLES PLC

STATEMENT OF FINANCIAL POSITION

Unaudited

(all amounts in Sri Lanka Rupees thousands)

	Group		Company
As at	31 March 2025	31 March 2024 (Audited)	31 March 2025	31 March 2024 (Audited)
ASSETS
Non-Current Assets
Property, plant and equipment	6,123,920	6,238,948	2,403,619	2,510,769
Capital Work in progress	335,160	284,813	-	-
Investment property	1,828,750	1,743,000	639,750	607,000
Intangible assets	68,281	68,281	-	-
Right- of- use assets	10,789	15,775	-	-
Investment in subsidiaries	-	-	1,103,744	1,103,744
Investments accounted for using the equity method Financial assets at fair value through OCI	806,745 931,940	762,802 883,374	345,093 37,489	345,093 16,949
	10,105,584	9,996,993	4,529,695	4,583,555
Current Assets
Inventories	12,278,049	11,327,209	7,108,359	6,646,631
Trade and other receivables Financial assets at fair value through Profit or loss	7,194,213 5,957,483	6,551,835 1,632,578	3,583,925 1,088,623	3,927,022 518,971
Cash and cash equivalents	7,954,198	8,759,617	2,294,398	1,705,228
	33,383,943	28,271,239	14,075,305	12,797,852
TOTAL ASSETS	43,489,528	38,268,232	18,604,999	17,381,407
EQUITY AND LIABILITIES
Capital and Reserves
Stated capital	299,488	299,488	299,488	299,488
Capital reserve	3,505,056	3,505,056	1,651,103	1,651,103
General reserve	1,123,825	1,123,825	680,266	680,266
Fair value reserve of FA at FVOCI	299,188	260,791	27,243	7,117
Foreign currency translation reserve	106,603	120,716	-	-
Retained earnings	25,759,361	21,314,711	10,928,527	8,794,286
Equity attributable to owners of the parent	31,093,520	26,624,587	13,586,627	11,432,260
Non-controlling interests	5,218,127	4,381,917	-	-
Total equity	36,311,647	31,006,504	13,586,627	11,432,260
Non-Current Liabilities
Defined benefit obligations	483,880	455,017	227,416	216,898
Deferred tax liability	1,212,360	1,068,685	440,593	440,593
Lease liability	409	8,127	-	-
Borrowings	150,109	335,241	95,517	230,156
	1,846,758	1,867,070	763,526	887,647
Current Liabilities
Trade and other payables	1,818,052	1,729,366	2,412,526	3,019,778
Current income tax liability	2,268,714	2,086,188	1,153,625	1,036,463
Borrowings	1,177,956	1,500,086	650,000	1,000,000
Lease Liability	8,946	9,745	-	-
Bank overdraft	57,454	69,273	38,695	5,259
	5,331,122	5,394,658	4,254,846	5,061,500
Total Liabilities	7,177,880	7,261,728	5,018,372	5,949,147
Total Equity and Liabilities	43,489,528	38,268,232	18,604,999	17,381,407
Net asset value per share	129.79	111.13	56.71	47.72
Highest and Lowest Market Price recorded during the quarter;
Highest price (Rs.)			144.00	85.20
Lowest price (Rs.)			113.00	65.50
Last traded price (Rs.)			122.00	84.10

It is certified that these financial statements have been prepared in compliance with the requirements of Companies Act, No. 07 of 2007.

Sg.d

Mahesh Amarasiri

Group Chief Financial Officer

Sg.d Sg.d

U. G. Madanayake Suren Madanayake

Chairman Managing Director

30 May 2025

Colombo

Page 4

ACL CABLES PLC

STATEMENT OF CHANGES IN EQUITY - GROUP

Unaudited

(all amounts in Sri Lanka Rupees thousands)

For the year ended 31 March

Balance at 1 April 2024

Net profit

Fair value adjustment for FA at fair value through OCI

Re-measurements of post employment benefit obligation

Currency Translation Difference

Share of other comprehensive income of equity accounted investee, net of tax

Total comprehensive income

Adjustment on changes to non controlling interest in subsidiary

Dividends

Balance at 31 March 2025

For the year ended 31 March 2024

Attributable to owners of the company

FV Reserve Foreign Currency Non

Stated Capital General of FA at Translation Retained controlling Total capital reserves reserve FVOCI reserve Earnings Total interest equity

299,488	3,505,056	1,123,825	260,791	120,716	21,314,711	26,624,587	4,381,917	31,006,504
-	-	-	-	-	4,744,794	4,744,794	837,035	5,581,829
								-
-	-	-	38,398	-	-	38,398	9,752	48,150
-	-	-	-	-	-	-	-	-
-	-	-	-	(14,113)	-	(14,113)	(13,697)	(27,810)
-	-	-	-	-	(677)	(677)	-	(677)
-	-	-	38,398	(14,113)	4,744,117	4,768,402	833,090	5,601,492
-	-	-	-	-	-	-	106,150	106,150
-	-	-	-	-	(299,468)	(299,468)	(103,026)	(402,494)
299,488	3,505,056	1,123,825	299,188	106,603	25,759,360	31,093,521	5,218,127	36,311,648

Attributable to owners of the company

	Stated capital	Capital reserves	General reserve	FV Reserve of FA at FVOCI	Foreign Currency Translation reserve	Retained Earnings	Total	Non controlling interest	Total equity
Balance at 1 April 2023	299,488	2,844,283	1,123,825	251,540	231,794	18,749,250	23,500,180	3,958,088	27,458,268
Net profit	-	-	-	-	-	2,858,432	2,858,432	587,388	3,445,820
Fair value adjustment for FA at fair value
through OCI	-	-	-	12,726	-	-	12,726	2,102	14,828
Deferred tax on the FV adjustment for
financial assets at FVOCI				(3,475)			(3,475)	-	(3,475)
Currency Translation Difference					(111,078)		(111,078)	(99,936)	(211,014)
Re-measurements of post employment
benefit obligation	-	-	-	-		2,371	2,371	-	2,371
Deferred tax on re-measurement of post
employment benefit obligation	-	-	-	-	(779)		(779)	-	(779)
Gain on revaluation of Land and Building	-	995,262	-	-	-		995,262	103,788	1,099,050
Deferred tax on revaluation surplus	-	(329,045)	-	-	-		(329,045)	-	(329,045)
Tax impact on effect of change in tax rates -		-	-	-	-		-	- -
Share of other comprehensive income of
equity accounted investee, net of tax -		-	-	-	(538)		(538)	- (538)
Adjustment through equity -		-	-	-	- -		-	- -
Impact on transfer of NCI balance to
retained earnings of equity investee -		-	-	-	-		-	- -
Total comprehensive income	-	666,217	-	9,251	(111,078)	2,859,486	3,423,876	593,342	4,017,219
Adjustment on changes to non controlling interest in subsidiary								(56,100)	(56,100)
Transfer from revaluation reserve net of tax	-	(5,444)	-	-	-	5,444	-	-	-
Dividends	-	-	-	-	-	(299,468)	(299,468)	(113,414)	(412,882)
Balance at 31 March 2024	299,488	3,505,056	1,123,825	260,791	120,716	21,314,711	26,624,587	4,381,917	31,006,504

ACL CABLES PLC

STATEMENT OF CHANGES IN EQUITY - COMPANY

(all amounts in Sri Lanka Rupees thousands)

For the year ended 31 March

Unaudited

FV Reserve

Stated Capital General of FA at Retained

capital reserves reserve FVOCI Earnings Total

Balance at 1 April 2024	299,488	1,651,103	680,266	7,117	8,794,286	11,432,260
Net profit	-	-	-	-	2,433,710	2,433,710
OCI	-	-	-	20,126	-	20,126
Total comprehensive income	-	-	-	20,126	2,433,710	2,453,836
Dividends	-	-	-	-	(299,468)	(299,468)
Balance at 31 March 2025	299,488	1,651,103	680,266	27,243	10,928,528	13,586,627
No of shares as at 31 March 2025	239,574,720
For the year ended 31 March 2024				FV Reserve
	Stated capital	Capital reserves	General reserve	of FA at FVOCI	Retained Earnings	Total
Balance at 1 April 2023	299,488	1,356,425	680,266	3,873	7,697,434	10,037,486
Net profit	-	-	-	-	1,394,141	1,394,141
Fair value adjustment for FA at fair value through OCI	-	-	-	3,244	-	3,244
Re-measurements of post employment benefit obligation	-	-	-	-	3,109	3,109
Deferred tax on re-measurement of post employment benefit obligation	-	-	-	-	(933)	(933)
Gain on revaluation of Land and Building	-	420,969	-	-	-	420,969
Tax impact on effect of change in tax rates	-	-	-	-	-	-
Deferred tax on revaluation surplus	-	(126,291)	-	-	-	(126,291)
Total comprehensive income	-	294,678	-	3,244	1,396,320	1,694,241
Dividends	-	-	-	-	(299,468)	(299,468)
Balance at 31 March 2024	299,488	1,651,103	680,266	7,117	8,794,286	11,432,260
No of shares as at 31 March 2024	239,574,720

Fair value adjustment for FA at fair value through

ACL CABLES PLC

STATEMENT OF CASH FLOW

Unaudited

GROUP		COMPANY
2025	2024 (Audited)	2025	2024 (Audited)
7,991,773	4,662,927	3,327,552	1,632,266
385,220	354,245	116,877	126,582
(85,750)	(71,333)	(32,750)	(27,000)
(68,454)	(121,587)	-	-
28,027	35,034	-	-
(593)	(2,353)	(311,418)	(223,832)
(416,847)	324,378	54,300	502,948
33,565	(157,777)	-	-
(309,377)	(46,236)	(69,652)	(18,971)
-	(5)	-	-
84,318	100,592	32,304	47,153
(950,840)	392,647	(461,728)	179,256
(642,378)	(53,763)	343,097	(279,703)
88,686	829,146	(607,252)	300,524
6,137,348	6,245,919	2,391,330	2,239,224
416,847 (55,455) (2,096,602) (38,718)	(324,378) (30,509) (1,439,615) -	(54,300) (21,786) (776,683) -	(607,712) (14,792) (181,535) -
4,363,419	4,451,417	1,538,562	1,435,184
(298,431)	(141,532)	(9,730)	(24,400)
-		-	(56,100)
-	-	-	104,764
593	2,353	311,418	223,832
-	5	-	-
-	(108,335)	-	(52,853)
(4,047,057)	(1,586,342)	(500,000)	(500,000)
(414)	-	(414)	-
(4,344,895)	(1,833,852)	(198,726)	(304,758)
(322,130) (185,132) (8,517) 106,150 (299,468) (103,026)	(1,187,232) (370,471) (1,352) -(299,468) (113,414)	(350,000) (134,639) - -(299,468) -	(1,255,780) (224,718) - -(299,468) -
(812,124)	(1,971,937)	(784,107)	(1,779,966)
(793,600) 8,690,344	645,630 8,044,714	555,735 1,699,969	(649,540) 2,349,508
7,896,744	8,690,344	2,255,703	1,699,969

(all amounts in Sri Lanka Rupees thousands)

For the year ended 31 March

CASH FLOW FROM OPERATING ACTIVITIES

Profit/(loss) before tax

Adjustments for:

Depreciation of property, plant and equipment Fair value adjustment to investment property

Share of profit from equity accounted investee (net of tax)

Dividend received from equity accounted investee Dividend income

Interest expense/(income)

Effect of movements in exchange rates Fair value adjustment to FA at FVTPL

Profit on disposal of property, plant and equipment Defined benefit obligations

Changes in working capital:

(Increase)/Decrease in;

Inventories

Receivables and prepayments Increase/(Decrease) in;

Trade and other payables

Cash generated from/ (used in) operations

Interest paid/received

Defined benefit obligations paid Income tax paid less refund received WHT on dividend paid by subsidiary

Net cash (used in)/from operating activities

CASH FLOW FROM INVESTING ACTIVITIES

Purchase and construction of property, plant and equipment Investment in subsidiary

Interest received Dividend received

Proceeds from disposal of property, plant and equipment Cost incurred on capital work in progress

Investment in Financial assets at Fair value through Profit or Loss Investment in Financial assets at Fair value through OCI

Net cash from/(used in) investing activities

CASH FLOW FROM FINANCING ACTIVITIES

Short term borrowings net of payments Long term borrowings net of payments Principal elepment of lease payment Proceed from share issue of Subsidiary Dividends paid

Dividends paid by subsidiaries to non-controlling interests

Net cash generated from/ (used in) financing activities

Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year

ACL CABLES PLC

NOTES TO THE FINANCIAL STATEMENTS

Unaudited

(all amounts in Sri Lanka Rupees thousands)

Segment information

Business segment information

Manufacturing

Manufacturing PVC

cables compound Others Total Total

For the year ended 31 March 2025 2025 2025 2025 2024

Revenue

38,168,165 (791,733)	2,441,286 (2,311,480)	1,592,888 (1,592,888)	42,202,339 (4,696,101)	33,799,448 (4,603,119)
37,376,432	129,806	-	37,506,238	29,196,329
6,282,965	577,174	463,127	7,323,266	4,616,718
168,529	2,151	12,526	183,206	202,764
277,187	106,165	33,495	416,847	(278,142)
-	-	68,454	68,454	121,587
(2,060,548)	(190,846)	(158,549)	(2,409,943)	(1,217,107)
4,668,134	494,644	419,054	5,581,831	3,445,821
298,353	14	64	298,431	249,867
			298,431	249,867
314,194	18,047	52,979	385,220	347,206
			385,220	347,206

Total revenue

Inter-segment sales

External sales Results

Profit/(loss) before other income

and finance cost Other income

Finance (cost)/income

Share of profit of investments

accounted for using the equity method

(Power and energy)

Taxation

Profit/(loss) after taxation

Capital expenditure

Segment capital expenditure

Total capital expenditure Depreciation and amortisation

Segment depreciation

Total depreciation and amortisation

Manufacturing

Manufacturing PVC

cables compound Others Total Total

For the year ended 31 March 2025 2025 2025 2025 2024

Assets

34,129,956	3,901,885	4,382,704	42,414,544	37,193,820
			1,074,983	1,074,413
			43,489,528	38,268,233
6,513,538	207,780	311,299	7,032,617	7,251,444
			145,264	10,284
			7,177,881	7,261,728

Segment assets

Unallocated corporate assets

Total assets Liabilities

Segment liabilities

Unallocated corporate liabilities

Total liabilities

Geographical segment information - revenue

Group Company

For the year ended 31 March 2025 2024 2025 2024

29,523,514

7,982,725

22,075,948

7,120,381

14,848,749

2,491,200

11,466,372

2,422,724

37,506,238

29,196,329

17,339,949

13,889,096

Local sales Export sales

ACL CABLES PLC

NOTES TO THE FINANCIAL STATEMENTS

Unaudited

The consolidated interim financial statements have been prepared in accordance with the accounting policies set out in the Annual Report for the year ended 31 March 2024 and are in compliance with Sri Lanka Accounting Standards - LKAS 34 - Interim Financial Reporting.
Where necessary, the presentation and classification of the financial statements of the previous period have been adjusted for better presentation and to be comparable with year end reporting.
There were no liabilities for management fees or any other similar expenditures in the interim financial statements.
Cables Solutions PLC, subsidiary of ACL Cables PLC, has issued Fourteen Million Six Hundred and Sixty Six Thousand Six Hundred (14,666,600),New Ordinary Voting Shares each at Rs. 7.50/- to the general public on 23 July 2024.
There have been no other events subsequent to the balance sheet date, which require disclosures in the interim financial statements.
There were no significant changes in the nature of the contingent liabilities, which were disclosed in the Annual Report for the year ended 31 March 2024.
Net Finance Income/(Cost) includes the exchange Gain/(Loss) incurred during the year 2023/24.

Rs.'000

	Quarter ended		Period ended
	Group	Company	Group	Company
Exchange gain/(loss)	77,134	21,291	(98,415)	(21,905)

ACL CABLES PLC

NON FINANCIAL INFORMATION

Twenty largest shareholders as at 31 March 2025

	Shareholder Name	Number of	Holdings
		shares	%
1	Mr. U. G. Madanayake	91,388,864	38.15%
2	Mr. Suren Madanayake	53,209,584	22.21%
3	Employees Provident Fund	11,814,864	4.93%
4	Citibank Newyork S/A Norges Bank Account 2	7,259,701	3.03%
5	Mrs. N.C. Madanayake	4,128,400	1.72%
6	FAB Foods (Private) Ltd	3,070,080	1.28%
7	Hatton National Bank PLC	2,663,833	1.11%
8	Union Assurance PLC-Universal Life Fund	2,561,401	1.07%
9	Invenco Capital Private Limited	2,224,844	0.93%
10	Lynear Wealth Management	1,806,904	0.75%
11	Selliah A	1,800,000	0.75%
12	Rubber Investment Trust LTD A/C No 01	1,755,939	0.73%
13	Deutsche Bank AG Trustee To Lynear Welth	1,678,666	0.70%
14	Perera R.D.M.	1,403,728	0.42%
15	Sir Cyril De Zoysa Trust	1,364,144	0.38%
16	Deutsche Bank AG National Equity Fund	1,058,114	0.44%
17	Arunodhaya (Private) Limited	1,000,000	0.42%
18	Arunodhaya Industries (Private) Limited	1,000,000	0.42%
19	Arunodhaya Investments (Private) Limited	1,000,000	0.29%
20	Union Assurance PLC-Traditional Life Participation	857,957	0.36%
		193,047,023	80.58%

Share holding of directors as at 31 March 2025 Director Name Number of Holdings shares %

01. Mr. U. G. Madanayake - Chairman	91,388,864	38.15%
02. Mr. Suren Madanayake - Managing Director	53,209,584	22.21%
03. Mrs. N.C. Madanayake	4,128,400	1.72%
04. Dr.Sivakumar Selliah	-	-
05. Mr.Kusal Jayawardena	-	-
06. Prof. Malik Ranasinghe	-	-
07. Mr. D.D. Wahalthanthri	-	-
08. Mr. Rajiv Casie Chitty	-	-
09. Mr. Nissanka B. Weerasekera	-	-
Total held by Directors	148,726,848	62.08%

Shares held by public as at 31 March 2025	90,847,872	37.92%

Total No of Shares as at 31 March 2025	239,574,720	100.00%
No of public share holders as at 31 March 2025		5,723

The applicable option under CSE Rule 7.13.1 on minimum public holding is option 1 and the Float Adjusted Market capitalization as of 31.03.2025 was Rs.11,083,440,384/-

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