Acl Cables PlcCSELK: ACL.N0000

Quarterly Financial Statements for the period ended 31st December 2024

· Issued by Acl Cables Plc

INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED 31 DECEMBER 2024

UNAUDITED

ACL CABLES PLC (PQ 102)

ACL CABLES PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

Unaudited

(all amounts in Sri Lanka Rupees thousands)

For the period ended 31 December

Revenue

Cost of sales

Gross profit

Other income

Distribution costs

Administrative costs

Operating profit

Finance (costs) / income - net

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

Profit before income tax

Income tax expenses

Profit for the period

Profit attributable to :

  • Owners of the parent
  • Non-controllinginterests

Earnings per share (Rs.)

Quarter ended

Period ended

31 December

31 December

2024

2023

2024

2023

9,434,907

8,180,684

27,606,749

21,702,409

(6,698,766)

(6,197,713)

(19,917,893)

(16,261,009)

2,736,141

1,982,970

7,688,856

5,441,400

11,984

22,897

44,367

94,755

(493,397)

(385,621)

(1,353,543)

(1,030,240)

(265,330)

(301,822)

(796,310)

(840,236)

1,989,398

1,318,423

5,583,370

3,665,678

(45,974)

123,024

176,376

112,726

13,914

49,556

81,394

48,044

1,957,339

1,491,004

5,841,141

3,826,449

(650,136)

(400,927)

(1,791,734)

(1,092,116)

1,307,202

1,090,077

4,049,406

2,734,333

1,098,367

933,686

3,419,646

2,260,998

208,836

156,391

629,761

473,334

1,307,202

1,090,077

4,049,406

2,734,333

4.58

3.90

14.27

9.44

Page 1

ACL CABLES PLC

STATEMENT OF PROFIT OR LOSS - COMPANY

Unaudited

(all amounts in Sri Lanka Rupees thousands)

For the period ended 31 December Revenue

Cost of sales

Gross profit

Other income

Distribution costs

Administrative costs

Operating profit

Finance (costs) / income - net

Profit before income tax

Income tax expenses

Profit for the period

Earnings per share (Rs.)

Quarter ended

Period ended

31 December

31 December

2024

2023

2024

2023

4,330,385

4,189,403

12,959,451

10,240,716

(3,197,919)

(3,425,562)

(9,862,598)

(8,293,242)

1,132,466

763,841

3,096,853

1,947,474

36,495

42,344

337,836

240,382

(243,415)

(176,650)

(676,803)

(481,152)

(66,603)

(63,329)

(203,004)

(176,225)

858,943

566,206

2,554,882

1,530,479

(72,873)

(45,363)

(84,720)

(308,625)

786,070

520,843

2,470,162

1,221,854

(241,201)

(128,618)

(658,474)

(287,954)

544,869

392,225

1,811,688

933,900

2.27

1.64

7.56

3.90

Page 2

ACL CABLES PLC

STATEMENT OF COMPREHENSIVE INCOME

Unaudited

(all amounts in Sri Lanka Rupees thousands)

  1. Group

For the period ended 31 December

Profit for the period

Other comprehensive income/(expenses)

Change in value of financial assets at fair value through other comprehensive income

Currency translations difference

Other comprehensive income, net of tax

Total comprehensive income, net of tax

Total comprehensive income attributable to:

  • Owners of the parent
  • Non-controllinginterests

Total comprehensive income, net of tax

Quarter ended

Period ended

31 December

31 December

2024

2023

2024

2023

1,307,202

1,090,077

4,049,406

2,734,333

25,182

(12,089)

31,705

3,271

(37,898)

(4,539)

(52,999)

(34,147)

(12,717)

(16,628)

(21,295)

(30,876)

1,294,486

1,073,449

4,028,112

2,703,457

1,097,181

923,117

3,414,870

2,246,298

197,305

150,332

613,242

457,159

1,294,486

1,073,449

4,028,112

2,703,457

  1. COMPANY

For the period ended 31 December

Profit for the period

Other comprehensive income/(expenses)

Change in value of financial assets at fair value through other comprehensive income

Other comprehensive income, net of tax

Total comprehensive income, net of tax

Quarter ended

Period ended

31 December

31 December

2024

2023

2024

2023

544,869

392,225

1,811,688

933,900

4,954

(1,068)

4,347

1,673

4,954

(1,068)

4,347

1,673

549,823

391,157

1,816,035

935,573

Page 3

ACL CABLES PLC

STATEMENT OF FINANCIAL POSITION

Unaudited

(all amounts in Sri Lanka Rupees thousands)

Group

Company

31 December

31 March

31 December

31 March

As at

2024

2024

2024

2024

ASSETS Non-current assets Property, plant and equipment Capital Work in progress Investment property Intangible assets

Right of use assets Investment in subsidiaries Investment in equity accounted investee

Financial assets at fair value through other comprehensive income

Current assets

Inventories

Trade and other receivables

Financial assets at fair value through profit or loss Cash and cash equivalents

TOTAL ASSETS

EQUITY AND LIABILITIES

Capital and reserves

Stated capital

Revaluation reserve

General reserve

Fair value reserve of financial assets at FVOCI

Foreign currency translation reserve

Retained earnings

Equity attributable to owners of the parent

Non-controlling interests

Total equity

Non-current liabilities

Defined benefit obligations

Deferred tax liability

Lease liability

Borrowings

Current liabilities

6,169,321

6,238,948

2,428,746

2,510,769

335,068

284,813

4,151

-

1,743,000

1,743,000

607,000

607,000

68,281

68,281

-

-

10,616

15,775

-

-

-

-

1,103,744

1,103,744

820,362

762,802

345,093

345,093

915,496

883,374

21,710

16,949

10,062,144

9,996,993

4,510,444

4,583,555

12,715,138

11,327,209

7,497,686

6,646,631

7,263,323

6,551,835

3,485,214

3,927,022

4,079,499

1,632,578

1,062,679

518,971

7,644,960

8,759,617

1,793,659

1,705,228

31,702,920

28,271,239

13,839,238

12,797,852

41,765,065

38,268,232

18,349,682

17,381,407

299,488

299,488

299,488

299,488

3,505,057

3,505,056

1,651,103

1,651,103

1,123,825

1,123,825

680,266

680,266

282,974

260,791

11,464

7,117

93,756

120,716

-

-

24,434,869

21,314,711

10,306,506

8,794,286

29,739,969

26,624,587

12,948,827

11,432,260

4,998,279

4,381,917

-

-

34,738,248

31,006,504

12,948,827

11,432,260

463,489

455,017

219,760

216,898

1,163,075

1,068,685

440,593

440,593

1,886

8,127

-

-

188,989

335,241

121,682

230,156

1,817,439

1,867,070

782,035

887,647

Trade and other payables

1,003,969

1,729,366

2,087,659

3,019,778

Current income tax liability

2,125,048

2,086,188

1,078,730

1,036,463

Borrowings

2,043,345

1,500,086

1,450,000

1,000,000

Lease liability

10,153

9,745

-

-

Bank overdraft

26,861

69,273

2,431

5,259

5,209,376

5,394,658

4,618,820

5,061,500

Total liabilities

7,026,815

7,261,728

5,400,855

5,949,147

Total equity and liabilities

41,765,065

38,268,232

18,349,682

17,381,407

Net asset value per share

124.14

111.13

54.05

47.72

Highest and Lowest Market Price recorded during the quarter;

Highest price (Rs.)

124.75

89.40

Lowest price (Rs.)

83.00

65.50

Last traded price (Rs.)

118.50

84.10

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

Signed

Mahesh Amarasiri

Group Chief Financial Officer

Signed

Signed

U. G. Madanayake

Suren Madanayake

Chairman

Managing Director

05 February 2025

Colombo

Page 3

ACL CABLES PLC

STATEMENT OF CHANGES IN EQUITY - GROUP

Unaudited

(all amounts in Sri Lanka Rupees thousands)

For the period ended 31 December

Attributable to owners of the company

FV reserve

Foreign Currency

Non

Stated

Revaluation

General

of FA at

Translation

Retained

controlling

Total

capital

reserve

reserve

FVOCI

reserve

Earnings

Total

interest

equity

Balance at 1 April 2024

299,488

3,505,056

1,123,825

260,791

120,716

21,314,711

26,624,588

4,381,917

31,006,505

Net profit for the period

-

-

-

-

-

3,419,646

3,419,646

629,761

4,049,406

Currency Translation Difference

-

-

-

-

(26,960)

-

(26,960)

(26,040)

(52,999)

Fair value adjustment for financial assets

at FVOCI

-

-

-

22,184

-

-

22,184

9,521

31,705

Share of other comprehensive income of

equity accounted investee, net of tax

-

-

-

-

-

-

-

-

-

Total comprehensive income

-

-

-

22,184

(26,960)

3,419,646

3,414,870

613,242

4,028,112

Adjustment on changes to non controlling

interest in subsidiary

-

-

-

-

-

-

-

106,150

106,150

Dividends

-

-

-

-

-

(299,468)

(299,468)

(103,026)

(402,494)

Balance at 31 December 2024

299,488

3,505,056

1,123,825

282,974

93,756

24,434,868

29,739,969

4,998,280

34,738,248

For the year ended 31 March 2024

Balance at 1 April 2023

Net profit for the period

Fair value adjustment for financial assets at FVOCI

Currency Translation Difference

Total comprehensive income

Dividends

Balance at 31 December 2023 Balance at 1 January 2024

Net profit for the period

Fair value adjustment for financial assets at FVOCI

Deferred tax on the fair value adjustment for financial assets at FVOCI

Currency Translation Difference Re-measurements of post employment

benefit obligation

Deferred tax on re-measurement of post employment benefit obligation

Tax impact on effect of change in tax rates Share of other comprehensive income of

equity accpounted investee

Gain on revaluation of Land and Buildings Deferred tax on revaluation surplus Share of other comprehensive income related tax of equity accounted investee

Total comprehensive income

Adjustment on changes to non controlling interest in subsidiary

Transfer from revaluation reserve net of tax

Balance at 31 March 2024

Attributable to owners of the company

FV reserve

Foreign Currency

Non

Stated

Revaluation

General

of FA at

Translation

Retained

controlling

Total

capital

reserve

reserve

FVOCI

reserve

Earnings

Total

interest

equity

299,488

2,844,283

1,123,825

251,540

231,794

18,749,250

23,500,180

3,958,088

27,458,268

-

-

-

-

-

2,260,998

2,260,998

473,334

2,734,332

-

-

-

2,715

-

-

2,715

556

3,271

-

-

-

-

(17,415)

-

(17,415)

(16,732)

(34,147)

-

-

-

2,715

(17,415)

2,260,998

2,246,298

457,158

2,703,456

-

-

-

-

-

(299,468)

(299,468)

(113,414)

(412,882)

299,488

2,844,283

1,123,825

254,255

214,379

20,710,780

25,447,010

4,301,832

29,748,842

299,488

2,844,283

1,123,825

254,255

214,379

20,710,780

25,447,010

4,301,832

29,748,842

-

-

-

-

-

597,434

597,434

114,054

711,488

-

-

-

10,011

-

-

10,011

1,546

11,557

-

-

-

(3,475)

-

-

(3,475)

-

(3,475)

-

-

-

-

(93,663)

-

(93,663)

(83,204)

(176,867)

-

-

-

-

-

2,371

2,371

-

2,371

-

-

-

-

-

(779)

(779)

-

(779)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(768)

(768)

-

(768)

-

995,262

-

-

-

-

995,262

103,788

1,099,050

-

(329,045)

-

-

-

-

(329,045)

-

(329,045)

-

-

-

-

230

230

-

230

-

666,217

-

6,536

(93,663)

598,487

1,177,577

136,184

1,313,761

-

-

-

-

-

-

-

-

-

(56,100)

(56,100)

-

(5,444)

-

-

-

5,444

-

-

-

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

Unaudited

(all amounts in Sri Lanka Rupees thousands)

For the period ended 31 December

FV reserve

Stated

Revaluation

General

of FA at

Retained

capital

reserve

reserve

FVOCI

Earnings

Total

Balance at 1 April 2024

299,488

1,651,103

680,266

7,117

8,794,287

11,432,261

Net profit for the period

-

-

-

-

1,811,688

1,811,688

Fair value adjustment for financial assets

at FVOCI

-

-

-

4,347

-

4,347

Total comprehensive income

-

-

-

4,347

1,811,688

1,816,035

Dividends

-

-

-

-

(299,468)

(299,468)

Balance at 31 December 2024

299,488

1,651,103

680,266

11,464

10,306,507

12,948,827

No of shares as at 31st December 2024

239,574,720

For the year ended 31 March 2024

FV reserve

Stated

Revaluation

General

of FA at

Retained

capital

reserve

reserve

FVOCI

Earnings

Total

Balance at 1 April 2023

299,488

1,356,425

680,266

3,873

7,697,434

10,037,486

Net profit for the period

-

-

-

-

933,900

933,900

Fair value adjustment for financial assets

at FVOCI

-

-

-

1,673

-

1,673

Total comprehensive income

-

-

-

1,673

933,900

935,573

Dividends

-

-

-

-

(299,468)

(299,468)

Balance at 31 December 2023

299,488

1,356,425

680,266

5,546

8,331,866

10,673,591

Balance at 1 January 2024

299,488

1,356,425

680,266

5,546

8,331,866

10,673,591

Net profit for the period

-

-

-

-

460,243

460,243

Fair value adjustment for financial assets

at FVOCI

-

-

-

1,571

-

1,571

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

Deferred tax on revaluation surplus

-

(126,291)

-

-

-

(126,291)

Total comprehensive income

-

294,678

-

1,571

462,419

758,668

Balance at 31 March 2024

299,488

1,651,103

680,266

7,117

8,794,287

11,432,261

No of shares as at 31 March 2024

239,574,720

Page 5

ACL CABLES PLC

STATEMENT OF CASH FLOW

Unaudited

(all amounts in Sri Lanka Rupees thousands)

For the period ended 31 December

CASH FLOW FROM OPERATING ACTIVITIES

Profit/(loss) before tax

Adjustments for:

Depreciation of property, plant and equipment and amortization Share of profit from equity accounted investee (net of tax) Dividend income

Interest expense/(income)

Cash dividend from equity investee

Effect of movements in exchange rates

Amortization of leasehold properties

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 received/(paid) Defined benefit obligations paid Income tax paid less refund received

WHT on dividend paid by subsidiary to non-controlling interests

Net cash (used in)/from operating activities

CASH FLOW FROM INVESTING ACTIVITIES

Purchase and construction of property, plant and equipment Dividend received

Investment in Financial assets at Fair value through profit or loss

Net cash from/(used in) investing activities

CASH FLOW FROM FINANCING ACTIVITIES

Short term borrowings net of payments

Long term borrowings net of payments

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 period

GROUP

COMPANY

2024

2023

2024

2023

5,841,141

3,826,449

2,470,162

1,221,854

288,135

281,969

87,258

94,401

(81,394)

(48,044)

-

-

(518)

(251)

(283,309)

(223,819)

(176,376)

(114,716)

84,720

306,635

28,033

35,041

-

-

(52,999)

34,147

-

5,159

1,131

-

-

60,048

60,084

24,228

24,498

(1,387,929)

1,141,123

(851,055)

219,015

(711,488)

(840,096)

441,808

(546,877)

(725,397)

465,672

(932,119)

501,296

3,086,413

4,842,507

1,041,693

1,597,003

(26,845)

116,706

(128,428)

(308,625)

(51,576)

(15,617)

(21,366)

(7,784)

(1,538,938)

(1,221,007)

(616,618)

(108,067)

(38,718)

(33,029)

-

-

1,430,335

3,689,564

275,281

1,172,525

(268,763)

(213,023)

(9,389)

(64,832)

518

251

283,309

223,819

(2,335,000)

(808,992)

(500,000)

(500,000)

(2,603,245)

(1,021,764)

(226,080)

(341,013)

543,259

(752,936)

450,000

(630,779)

(146,252)

(241,024)

(108,474)

(168,554)

106,150

-

-

-

(299,468)

(299,468)

(299,468)

(299,468)

(103,026)

(116,734)

-

-

100,664

(1,410,163)

42,058

(1,098,801)

(1,072,245)

1,257,637

91,260

(267,289)

8,690,344

8,044,716

1,699,969

2,349,508

7,618,099

9,302,353

1,791,229

2,082,222

Page 6

ACL CABLES PLC

NOTES TO THE FINANCIAL STATEMENTS

Unaudited

(all amounts in Sri Lanka Rupees thousands)

1. Segment information

(a) Business segment information

Manufacturing

Manufacturing

PVC

cables

compound

Others

Total

Total

For the period ended 31 December

2024

2024

2024

2024

2023

Revenue

Total revenue

28,065,485

1,780,475

1,189,988

31,035,948

24,732,177

Inter-segment sales

(548,195)

(1,691,015)

(1,189,988)

(3,429,199)

(3,029,768)

External sales

27,517,290

89,460

-

27,606,749

21,702,409

Results

Profit/(loss) before other income

and finance cost

4,728,266

428,736

382,001

5,539,003

3,570,924

Other income

34,158

2,151

8,058

44,367

94,755

Finance (cost)/income

109,974

59,452

6,951

176,376

112,726

Share of profit of investments

accounted for using the equity method

-

-

81,394

81,394

48,044

(Power and energy)

Taxation

(1,530,293)

(137,550)

(123,891)

(1,791,734)

(1,092,116)

Profit/(loss) after taxation

3,342,105

352,788

354,513

4,049,406

2,734,333

Capital expenditure

Segment capital expenditure

267,500

1,199

64

268,763

213,023

Total capital expenditure

267,500

1,199

64

268,763

213,023

Depreciation and amortisation

Segment depreciation

172,259

13,471

102,405

288,135

281,969

Total depreciation and amortisation

172,259

13,471

102,405

288,135

281,969

Manufacturing

Manufacturing

PVC

cables

compound

Others

Total

Total

For the period ended 31 December

2024

2024

2024

2024

31 March 2023

Assets

Segment assets

32,648,048

3,744,307

4,297,823

40,690,178

37,193,819

Unallocated corporate assets

1,074,886

1,074,413

Total assets

41,765,065

38,268,232

Liabilities

Segment liabilities

6,433,388

192,723

303,899

6,930,010

7,251,278

Unallocated corporate liabilities

96,805

10,450

Total liabilities

7,026,815

7,261,728

(b) Geographical segment information - revenue

Group

Company

For the period ended 31 December

2024

2023

2024

2023

Local sales

21,931,310

16,333,203

11,034,315

8,438,593

Export sales

5,675,440

5,369,206

1,925,136

1,802,123

27,606,749

21,702,409

12,959,451

10,240,716

Page 7

ACL CABLES PLC

NOTES TO THE FINANCIAL STATEMENTS

Unaudited

  1. 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.
  2. 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.
  3. There were no liabilities for management fees or any other similar expenditures in the interim financial statements.
  4. 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.
  5. There have been no other events subsequent to the balance sheet date, which require disclosures in the interim financial statements.
  6. 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.
  7. Net Finance Income/(Cost) includes the exchange gain/loss during the period 2024/25.

Rs.'000

Quarter endedPeriod ended

Group Company Group Company

Exchange gain/(loss)

(162,978)

(64,151)

(174,485)

(43,197)

Page 8

Attention: This is an excerpt of the original content. To continue reading it, access the original document here.

Earlier from Acl Cables

All Acl Cables news releases