Autodrome PlcCSELK: AUTO.N0000

Interim accounts for the quarter ending 31st march 2025

· Issued by Autodrome Plc


THE AUTODROME PLC INTERIM FINANCIAL STATEMENTS FOR THE QUARTER ENDED 31.03.2025

The Autodrome PLC 304 Union Place, Colombo 02. Sri Lanka

https://www.autodrome.lk/financial

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025 1

Corporate Information

Name of the Company

The Autodrome PLC

Legal Form

A Quoted Public Company with Limited Liability, incorporated in Sri Lanka in 1953.

Company Registration Number

PQ84

Colombo Stock Exchange

AUTO.N0000. | GICS Industry Group: Retailing

Head Office/ Registered Office

304 Union Place, Colombo 02. Sri Lanka.

Board of Directors

Mrs. Bernadette Aloysius BA- Chairperson

Mr. Jeremy Aloysius MBA (USA) - Jt. Managing Director

Mr. Rajeev Aloysius FCMA, FCMA(UK), CGMA, MBA - Jt. Managing Director Mrs. Joanne Aloysius Rajiyah BSc (Lon.), MBA - Marketing Director

Prof. John Aloysius BSc, PhD (USA) Ms. Julie A. Aloysius BA (USA)

  • Resigned w.e.f. 31 December 2024

    Mr. Raviraj Ratnasabapathy FCMA(UK), CGMA, MBA Mr. Brihadisvara Ponnambalam

  • Resigned w.e.f. 31 March 2025

    Mr. Ranil de Silva ACA, FCMA(UK), MCIM

  • Appointed w.e.f. 1 January 2025

    Mr. Jitendra T. Daulagala ACMA(UK), MA (UK)

    Ms. L. Chiranthi Cooray FCMA, CGMA, CPA, MBA (UK), CIPM

  • Appointed w.e.f. 1 April 2025

Mr. Hiran Asoka Pieris ACA, FCMA, CGMA

Company Secretaries

Deloitte Corporate Services (Pvt) Ltd

Lawyers

M/s. D. L. & F De Saram

Auditors

Ernst and Young Sri Lanka, Chartered Accountants

Bankers

Hatton National Bank PLC, Head Office Branch Commercial Bank of Ceylon PLC, City Office People's Bank, Union Place Branch

Sampath Bank, Colombo Super Branch

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025 2

Statement of Financial Position

Company

Unaudited

as at

Audited

as at

Group

Unaudited

as at

Audited

as at

31.03.2025

Rs.'000

31.03.2024

Rs.'000

31.03.2025

Rs.'000

31.03.2024

Rs.'000

Assets

Non-current assets

Property, Plant & Equipment

2,094,950

2,100,253

2,094,950

2,100,253

Intangible Assets

287

663

287

663

Investments

500

500

-

-

Other Financial Assets

95,695

95,604

107,795

102,204

2,191,432

2,197,020

2,203,032

2,203,120

Current Assets

Inventories

337,461

47,258

337,461

47,258

Trade Receivables & Other Receivables

122,573

19,087

125,728

19,141

Other Financial Assets

62,999

393,088

70,761

404,153

Amount Due from related party

303

-

303

-

Cash and Cash Equivalents

385

5,702

2,410

8,037

523,721

465,135

536,664

478,588

Total Assets

2,715,152

2,662,155

2,739,695

2,681,708

Equity and Liabilities

Capital and Reserves

Stated Capital

12,440

12,440

12,440

12,440

Revaluation Reserve

1,355,649

1,361,829

1,355,649

1,361,829

Revenue Reserves

594,869

565,087

615,389

583,246

Shareholders' Funds

1,962,958

1,939,356

1,983,478

1,957,515

Non-current Liabilities

Deferred Taxation

616,340

616,340

616,340

616,340

Retirement Benefit Obligations

36,661

34,795

36,661

34,795

653,001

651,135

653,001

651,135

Current Liabilities

Trade and Other Payables

47,286

67,258

51,540

68,199

Current Tax Liability

85

1,578

(147)

2,031

Amount Due to related party

-

-

-

-

Bank Overdraft

51,822

2,828

51,822

2,828

99,193

71,664

103,215

73,058

Total Liabilities

752,194

722,799

756,217

724,193

Total Equity and Liabilities

2,715,152

2,662,155

2,739,695

2,681,708

It is certified that the Financial Statements have been prepared in accordance with the requirment of the Companies Act No.07 of 2007.

Gayan Joseph

Head of Finance

The Board of Directors is responsible for these Financial Statements. Signed for and on behalf of the Board.

Rajeev Aloysius Jeremy Aloysius

Jt. Managing Director Jt. Managing Director

29 April 2025

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025 3

Company Statement of Profit or Loss and Other Comprehensive Income

Quarter ended 31 March Twelve Months ended 31 March

Note

(Unaudited)

2025

LKR 000

Unaudited

2024

LKR 000

Change

(Unaudited)

2025

LKR 000

(Audited)

2024

LKR 000

Change

Turnover

146,926

21,794

574.1%

458,735

168,616

172.1%

Cost of Sales

(122,900)

(17,563)

599.8%

(363,303)

(121,119)

200.0%

Gross Profit

24,026

4,232

467.8%

95,432

47,498

100.9%

Other Income and Gains

10,205

8,039

26.9%

45,012

30,748

46.4%

34,231

12,270

179.0%

140,444

78,246

79.5%

Less :Expenses

Administrative Expenses

(36,855)

(41,273)

(10.7%)

(141,560)

(134,995)

4.9%

Marketing Expenses

(10,056)

1,500

(770.4%)

(12,764)

(3,120)

309.1%

(46,911)

(39,773)

17.9%

(154,324)

(138,115)

11.7%

Operating Profit

(12,679)

(27,503)

(53.9%)

(13,879)

(59,869)

(76.8%)

Finance Income

7a

8,884

19,735

(55.0%)

50,272

88,024

(42.9%)

Finance Cost

7b

(595)

1,027

(157.9%)

(1,034)

(967)

6.9%

Profit before taxation

(4,390)

(6,741)

(34.9%)

35,359

27,188

30.1%

Taxation

1,123

(14,172)

(107.9%)

(12,585)

(25,589)

(50.8%)

Profit after taxation

(3,268)

(20,913)

(84.4%)

22,773

1,599

1324.2%

Other Comprehensive Income

Revaluation of Property,Plant & Equipment

-

80,277

-

80,277

(100.0%)

Deferred Tax on Property Revaluation

-

(24,083)

-

(24,083)

(100.0%)

Defined Benefit Plan actuarial gain/ (losses)

295

(4,264)

(106.9%)

1,182

(5,115)

(123.1%)

Deferred tax on Defined Benefit Plan actuarial

gain/(losses)

(89)

1,280

(106.9%)

(355)

1,535

(123.1%)

Other comprehensive income net of tax

207

(2,984)

(106.9%)

828

52,613

(98.4%)

Total Comprehensive Income

(3,061)

(23,897)

(87.2%)

23,601

54,212

(56.5%)

Earnings Per Share (Rs.)

-0.27

-1.74

(84.4%)

1.90

0.13

1324.2%

4

Quarter ended 31 March Twelve Months ended 31 March

Note

(Unaudited)

2025

LKR 000

Unaudited

2024

LKR 000

Change

(Unaudited)

2025

LKR 000

(Audited)

2024

LKR 000

Change

Turnover

147,579

23,247

534.8%

462,212

172,743

167.6%

Cost of Sales

(122,900)

(17,563)

599.8%

(363,303)

(121,119)

200.0%

Gross Profit

24,679

5,684

334.2%

98,909

51,625

91.6%

Other Income and Gains

10,212

7,939

28.6%

44,819

30,348

47.7%

34,891

13,623

156.1%

143,728

81,973

75.3%

Less :Expenses

Administrative Expenses

(37,141)

(41,613)

(10.7%)

(143,042)

(136,208)

5.0%

Marketing Expenses

(10,072)

1,495

(773.7%)

(12,877)

(3,165)

306.9%

(47,213)

(40,118)

17.7%

(155,919)

(139,373)

11.9%

Operating Profit

(12,322)

(26,495)

(53.5%)

(12,191)

(57,400)

(78.8%)

Finance Income

7a

9,186

20,396

(55.0%)

51,958

90,654

(42.7%)

Finance Cost

7b

(595)

1,022

(158.2%)

(1,034)

(972)

6.4%

Profit before taxation

(3,731)

(5,078)

(26.5%)

38,733

32,282

20.0%

Taxation

926

(14,672)

(106.3%)

(13,597)

(27,118)

(49.9%)

Profit after taxation

(2,806)

(19,750)

(85.8%)

25,135

5,164

386.7%

Other Comprehensive Income

Revaluation of Property,Plant & Equipment

-

80,277

-

80,277

Deferred Tax on Property Revaluation

-

(24,083)

-

(24,083)

Defined Benefit Plan actuarial gain/ (losses)

295

(4,264)

(106.9%)

1,182

(5,115)

(123.1%)

Deferred tax on Defined Benefit Plan actuarial

gain/(losses)

(89)

1,280

(106.9%)

(355)

1,535

(123.1%)

Other Comprehensive Income net of tax

207

53,210

(99.6%)

828

52,614

(98.4%)

Total Comprehensive Income

(2,599)

33,460

(107.8%)

25,963

57,778

(55.1%)

Earnings Per Share (Rs.)

-0.23

-1.65

(85.8%)

2.09

0.43

386.7%

Interim Financial Statements for the quarter ended 31 March 2025

5

Statement of Changes in Equity

Group

Stated

Revaluation

Retained

Total

Capital

Reserves

Profit

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 1st April 2023

12,440

1,311,815

575,482

1,899,737

Net Profit for the period

-

-

5,164

5,164

Other comprehensive income

Depreciation Transfer

(3,549)

3,549

-

Defined benefit plan actuarial (loss)/gain net of tax

(3,580)

(3,580)

Balance as at 31 March 2024

12,440

1,308,266

580,615

1,901,321

Net Profit for the period

-

-

-

-

Other comprehensive income

-

56,194

-

56,194

Defined benefit plan actuarial (loss)/gain net of tax

-

(1)

(1)

Depreciation Transfer

-

(2,631)

2,631

-

Dividend paid

-

-

-

Balance as at 31 March 2024

12,440

1,361,829

583,246

1,957,515

Net Profit for the period

-

-

25,135

25,135

Other comprehensive income

-

-

-

-

Defined benefit plan actuarial (loss)/gain net of tax

-

-

828

828

Depreciation Transfer

-

(6,180)

6,180

-

Balance as at 31 March 2025

12,440

1,355,649

615,389

1,983,479

Company

Stated

Revaluation

Retained

Total

Capital

Reserves

Profit

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 1st April 2023

12,440

1,311,815

560,888

1,885,143

Net Profit for the period

-

-

1,599

1,599

Other Comprehensive Income

Defined benefit plan actuarial (loss)/gain net of tax

(3,580)

(3,580)

Depreciation Transfer

(3,549)

3,549

Balance as at 31 March 2024

12,440

1,308,266

562,456

1,883,162

Net Profit for the period

-

-

-

-

Other Comprehensive Income

-

56,194

56,194

Defined benefit plan actuarial (loss)/gain net of tax

-

(1)

(1)

Depreciation Transfer

-

(2,631)

2,631

-

Dividend paid

-

-

-

Balance as at 31 March 2024

12,440

1,361,829

565,087

1,939,356

Net Profit for the period

-

-

22,773

22,773

Depreciation Transfer

-

(6,180)

6,180

-

Defined benefit plan actuarial (loss)/gain net of tax

-

-

828

828

Balance as at 31 March 2025

12,440

1,355,649

594,869

1,962,957

The Autodrome PLC

.

Note: All values are in Rupees '000s, unless otherwise stated. The above figures are subject to audit.

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025 6

Statement of Cash Flows

Company Unaudited

as at

Company Audited as at

Group Unaudited

as at

Group Audited

as at

31.03.25

31.03.24

31.03.25

31.03.24

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Cash Flow from Operating Activities

Net profit before Taxation

35,359

27,188

38,733

32,282

Depreciation

13,195

9,968

13,195

9,968

Amortisation

127

89

127

89

Provision for bad debts

-

(737)

-

(737)

Provision for Defined Benefit Plan

3,273

6,082

3,273

6,082

Interest Income

(50,272)

(88,024)

(47,338)

(90,654)

Interest Expense

1,034

331

1,034

331

Gain on sale of Property, Plant and Equipment

(7,508)

-

(7,508)

-

Realised Exchange (Gain)/(Loss

5

(4,620)

636

(4,620)

636

Unrealised Exchange (Gain)/Loss

5

-

-

-

-

Provision for slow moving inventries

1,876

1,876

Operating Profit before Working Capital Changes

(9,412)

(42,591)

(3,104)

(40,127)

(Increase)/Decrease in Inventories

(290,203)

(4,713)

(290,203)

(4,713)

(Increase)/Decrease in Debtors & Receivables

(103,486)

13,999

(106,587)

13,991

(Increase)/Decrease in Dues from related parties

(303)

-

(303)

-

(Increase)/Decrease in Dues to related parties

-

-

-

-

Increase/(Decrease) in Trade & other Payables

(15,343)

32,030

(12,039)

32,664

(409,335)

41,316

(409,132)

41,942

Cash generated from operations

(418,747)

(1,275)

(412,236)

1,816

Interest paid

(1,034)

(331)

(1,034)

(331)

Income Tax paid

(13,258)

(21,164)

(14,946)

(22,411)

Employee Benefits paid

(1,407)

(778)

(1,407)

(778)

Net Cash from Operating Activities

(434,445)

(23,549)

(429,623)

(21,705)

Purchase of Property,Plant & Equipments

(7,893)

(1,915)

(7,893)

(1,915)

Acquisition of Intangible Asset

(750)

(750)

Disposal of Intangible Asset

250

-

250

-

Long term Investments (increase)/decrease

(91)

15,003

(5,591)

15,503

Short term Investments (increase)/decrease

330,089

(69,397)

333,392

(72,919)

Financial Assets Reserve

-

-

-

-

Dividend received

-

-

-

-

Interest received

50,272

88,024

47,338

90,654

Disposal of Fixed Asset

7,508

-

7,508

-

Net Cash from/(used) in Investing Activities

380,135

30,963

375,004

30,573

Cash flow from Financing Activities

Dividend paid

-

-

-

-

Net Cash used in Finance Activities

-

-

-

-

Increase in Cash & Cash Equivalents

(54,310)

7,417

(54,619)

8,869

Movement in Cash and Cash Equivalents

At the beginning of the period

2,873

(4,543)

5,209

(3,661)

Increase/(Decrease)

(54,310)

7,417

(54,619)

8,869

At the end of the period

(51,437)

2,873

(49,411)

5,209

Bank overdrafts

(51,822)

(2,828)

(51,822)

(2,828)

Cash and bank balances

385

5,702

2,411

8,037

(51,437)

2,873

(49,411)

5,209

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025 7

Explanatory Notes

  1. These Statements are prepared in accordance with the prevailing LKAS, & are subject to audit.

  2. All known expenses have been provided for in these financial statements.

  3. The Accounting Policies and methods of computation are consistent with those followed previously.

  4. No circumstances have arisen since the Financial Position statement date, that requires further disclosure or adjustment in these Statements. No contingent liabilities or assets exist as at the beginning, nor end, of any period.

  1. The Cash Flow statement quantifies realised and unrealised exchange gains/losses.

    2025

    2024

    2025

    2024

    Rent Income

    35,892

    29,758

    36,092

    30,158

    Income from Tyre Fitting Centre

    430

    489

    430

    489

    Others

    982

    102

    982

    102

    Sale of Motor vehicle

    7,508

    -

    7,508

    -

    Total Other Operating Income

    44,812

    30,348

    45,012

    30,748

  2. Other Operating Income
  3. Net Finance Income / (Cost)
Group Company Group Company

2025

2024

2025

2024

7a

Finance Income

Interest Income from Fixed Deposits

10,111

10,298

9,154

9,626

Interest Income from Debentures

4,712

4,767

4,712

4,767

Interest Income from CAL Fixed Income opportunities Fund

32,410

75,589

31,787

73,630

Exchange Gain

4,620

-

4,620

-

Total Finance Income

51,852

90,654

50,272

88,024

7b Finance Cost

Interest on Bank Overdrafts and other facilities

1,034

311

1,034

311

Exchange Loss

-

641

-

636

(Reversal)/Provision for Impairment of Investment

-

20

20

Total Finance Cost

1,034

972

1,034

967

Net Finance Income / (Finance Cost)

50,818

89,682

49,238

87,057

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025 8

Explanatory Notes

8

Directors' Shareholdings as at 31st March

No. of Shares

2025

%

2024

%

Mrs. Bernadette J. Aloysius

3,594,800

29.96

3,594,800

29.96

Mr. Jeremy D. Aloysius (Jt. Managing Director/CEO)

1,127,360

9.39

877,340

7.31

Mr. Rajeev A.J. Aloysius (Jt. Managing Director/CEO)

1,127,360

9.39

877,340

7.32

Ms. Julie A. Aloysius

1,127,360

9.39

877,340

7.31

Ms. J. Joanne B. Aloysius Rajiyah

-

-

877,340

7.31

Prof. John A. Aloysius

1,127,360

9.39

877,340

7.31

Mr. Shamindra V. Rajiyah and Ms. J. Joanne B. Aloysius Rajiyah

61,000

0.51

258,684

1.85

8,165,240

68.04

8,240,184

68.37

  1. Major Shareholdings as at 31st March No. of Shares

    2025

    %

    2024

    %

    Ms. Bernadette J. Aloysius

    3,594,800

    29.96

    3,594,800

    29.96

    Tuckers (Pvt) Ltd

    1,395,785

    11.63

    -

    -

    Mr. Sanjeev E.C. Gardiner

    1,179,500

    9.83

    1,179,500

    9.83

    Mr. Rajeev A.J. Aloysius (Jt. Managing Director/CEO)

    1,127,360

    9.39

    877,340

    7.31

    Ms. Julie A. Aloysius

    1,127,360

    9.39

    877,340

    7.31

    Mr. Jeremy D. Aloysius (Jt. Managing Director/CEO)

    1,127,360

    9.39

    877,340

    7.31

    Ms. J. Joanne B. Aloysius Rajiyah

    -

    -

    877,340

    7.31

    Prof. John A. Aloysius

    1,127,360

    9.39

    877,340

    7.31

    Seylan Bank PLC / The Galle Face Hotel Co. Ltd

    533,200

    4.44

    533,200

    4.44

    Cyril Gardiner Limited

    161,000

    1.34

    161,000

    1.34

    Hotel International (Pvt) Ltd.

    78,741

    0.66

    78,741

    0.66

    Mr. Shamindra V. Rajiyah and Ms. J. Joanne B. Aloysius Rajiyah

    61,000

    0.51

    258,684

    2.16

    Mr. Hiranjan C.W. Aloysius

    55,700

    0.46

    55,700

    0.46

    Mr. W.S.S.Amarasooriya

    38,724

    0.32

    39,081

    0.33

    Mr. R Jehan M.F. Aloysius

    30,400

    0.25

    30,400

    0.25

    The Galle Face Hotel Co Ltd

    20,000

    0.17

    20,000

    0.17

    Shalsri Investments (Pvt) Ltd

    15,800

    0.13

    15,800

    0.13

    Mr.Ratna Gopal

    14,200

    0.12

    14,200

    0.12

    Mr. James Alwis Christoffel Rajasinghe (Deceased)

    14,000

    0.12

    14,000

    0.12

    Mr.S.C Weerasooria

    13,600

    0.11

    13,600

    0.11

    Mr.Hettiarachchige Walter Elliot Tissera

    10,600

    0.09

    1,895

    0.02

    11,726,490

    97.63

    10,395,406

    86.63

  2. The percentage of Shares held by the Public as at 31 March 2025 was 20.325%. The number of shareholders as at 31.03. 2025 was 545. The number of public shareholders was 538. Float Adjusted Market Capitalization disclosure is on Page 9.

Therefore the Company complies with the Minimum Public Holding Requirement; under Main Board, Option Five Rule 7.13

The Autodrome PLC

Interim Financial Statements for the quarter ended 31 March 2025

Investor Information

MARKET VALUE OF SHARES

The Market value of an ordinary share of The Autodrome PLC was as follows :

Quarter ended

9

Year ended

31.03.2025

31.03.2024

31.03.2025

Rs.

Rs.

Rs.

Last Traded Price

110.00

90.20

110.00

Closing price

110.00

90.20

110.00

Highest price for the period

139.75

142.75

139.75

Lowest price for the period

100.00

76.70

89.00

No. of shares

12,000,000

12,000,000

12,000,000

Market Capitalization

1,320,000,000

1,082,400,000

1,320,000,000

Float Adjusted Market Capitalization

268,290,000

226,373,136

226,373,136

RATIOS

Net Assets per Share

163.58

163.31

163.31

Annualised Earning per Share

(0.23)

0.43

0.43

Annualised Price Earning Ratio (times)

(470.49)

209.77

209.60

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