BAIRAHA FARMS PLC.
FINANCIAL STATEMENTS
30TH JUNE 2022
Bairaha Farms PLC | |||||||
Statement of Financial Position | |||||||
As at 30th June 2022 | |||||||
Group | Company | ||||||
Unaudited | Unaudited | Audited | Unaudited | Unaudited | Audited | ||
as at | as at | as at | as at | as at | as at | ||
30.06.2022 | 30.06.2021 | 31.03.2022 | 30.06.2022 | 30.06.2021 | 31.03.2022 | ||
Rs | Rs | Rs | Rs | Rs | Rs | ||
ASSETS | |||||||
Non-Current Assets | |||||||
Property, Plant & Equipment | 2,660,023,571 | 2,317,747,540 | 2,500,695,088 | 983,050,756 | 860,748,931 | 933,729,816 | |
Right of use Assets | 7,752,760 | 12,182,901 | 8,860,289 | 12,374,696 | 19,445,952 | 14,142,510 | |
Investment Property | - | - | - | 51,353,909 | 53,673,755 | 51,932,769 | |
Intangible Assets | 38,648,938 | 37,414,508 | 39,989,250 | 38,561,438 | 37,309,508 | 39,898,250 | |
Investments in Subsidiaries | - | - | - | 381,532,820 | 381,532,820 | 381,532,820 | |
Investments in Joint Ventures | 1,204,272,778 | 1,081,578,535 | 1,176,730,340 | 711,922,000 | 711,922,000 | 711,922,000 | |
Other Investments | 891,800 | 1,131,900 | 891,800 | 891,800 | 1,131,900 | 891,800 | |
Biological Assets- Bearer | 196,346,020 | 60,700,658 | 105,002,246 | 62,732,528 | 17,375,245 | 52,608,411 | |
4,107,935,867 | 3,510,756,042 | 3,832,169,013 | 2,242,419,947 | 2,083,140,111 | 2,186,658,376 | ||
Current Assets | |||||||
Inventories | 724,483,990 | 279,176,401 | 362,024,188 | 480,380,593 | 179,973,111 | 219,928,475 | |
Biological Assets- Consumable | 358,188,200 | 204,152,747 | 211,654,885 | 193,658,658 | 84,298,909 | 161,689,272 | |
Biological Assets- Bearer | 469,945,758 | 429,763,177 | 438,754,507 | 264,620,928 | 133,261,292 | 257,230,802 | |
Trade and Other Receivables | 806,004,338 | 538,664,737 | 694,261,283 | 754,501,855 | 396,740,482 | 710,502,107 | |
Income Tax Receivable | 21,695,504 | 42,847,163 | 24,265,487 | 13,061,539 | 28,799,593 | 13,061,539 | |
Other Investments | 25,561,154 | 45,577,596 | 46,135,670 | 61,154 | 77,596 | 61,154 | |
Amounts Due from Related Parties | 9,167,723 | 22,524,782 | 50,509,233 | 87,255,901 | 38,971,256 | 117,290,757 | |
Cash and Bank Balances | 193,181,235 | 213,777,589 | 541,691,393 | 132,995,598 | 123,836,296 | 302,079,107 | |
2,608,227,902 | 1,776,484,192 | 2,369,296,647 | 1,926,536,226 | 985,958,535 | 1,781,843,213 | ||
Total Assets | 6,716,163,769 | 5,287,240,234 | 6,201,465,659 | 4,168,956,173 | 3,069,098,646 | 3,968,501,589 | |
EQUITY AND LIABILITIES | |||||||
Equity | |||||||
Stated Capital | 256,305,197 | 256,305,197 | 256,305,197 | 256,305,197 | 256,305,197 | 256,305,197 | |
Revaluation Surplus | 572,830,044 | 573,011,179 | 572,830,044 | 183,956,592 | 183,956,592 | 183,956,592 | |
Fair Value Reserve | (1,254,207) | (1,014,107) | (1,254,207) | (1,254,207) | (1,014,107) | (1,254,207) | |
Actuarial Gain on Defined Benefit Plans | (3,968,043) | (5,557,842) | (3,968,043) | (3,968,043) | (5,557,842) | (3,968,043) | |
Retained Earnings | 4,234,572,183 | 3,318,965,761 | 3,960,977,491 | 1,552,326,107 | 1,020,260,414 | 1,326,787,653 | |
Total Equity | 5,058,485,174 | 4,141,710,188 | 4,784,890,482 | 1,987,365,646 | 1,453,950,254 | 1,761,827,192 | |
Non-Current Liabilities | |||||||
Financing & Lease (Ijara) Payable | 344,738,086 | 105,406,278 | 257,660,284 | 139,175,027 | 65,470,777 | 106,558,148 | |
Deferred Tax Liabilities | 177,672,605 | 167,050,545 | 177,672,605 | 60,207,891 | 49,405,571 | 60,207,891 | |
Retirement Benefit Liability | 96,590,089 | 97,303,196 | 94,863,017 | 84,760,903 | 83,758,950 | 83,018,834 | |
619,000,780 | 369,760,019 | 530,195,906 | 284,143,821 | 198,635,298 | 249,784,873 | ||
Current Liabilities | |||||||
Trade and Other Payables | 628,029,099 | 404,208,661 | 594,676,038 | 1,215,646,017 | 881,828,273 | 1,425,360,210 | |
Dividends Payable | 18,662,203 | 16,270,755 | 16,545,937 | 18,662,203 | 16,270,755 | 16,545,937 | |
Amounts Due to Related Parties | - | - | - | 341,454,851 | 252,473,209 | 306,583,406 | |
Financing & Lease (Ijara) Payable | 391,986,513 | 355,290,611 | 275,157,296 | 321,683,635 | 265,940,857 | 208,399,971 | |
1,038,677,815 | 775,770,027 | 886,379,271 | 1,897,446,706 | 1,416,513,094 | 1,956,889,524 | ||
Total Equity and Liabilities | 6,716,163,769 | 5,287,240,234 | 6,201,465,659 | 4,168,956,173 | 3,069,098,646 | 3,968,501,589 |
The above figures are provisional and subject to audit.
I certify that the above Financial Statements have been prepared in compliance with the reqirements of the Companies Act No. 07 of 2007.
Sgd: Mr. Shafraz Hussaindeen
Financial Controller
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Sgd: Mr. Yakooth Naleem | Sgd: Mr. Riyal Yakoob |
Managing Director | Executive Director |
28-Jul-2022 |
Bairaha Farms PLC.
Statement of Profit or Loss and Other Comprehensive Income - Group
For the Three Months ended 30th June 2022
Unaudited | Unaudited for | ||||
for the three | Unaudited | Unaudited | Group | ||
the three months | |||||
months ended | for the quarter | for the quarter | Change | ||
ended 30.06.2021 | |||||
30.06.2022 | ended 30.06.2022 ended 30.06.2021 | % | |||
Rs | Rs | Rs | Rs | +/(-) | |
Revenue | 2,316,386,562 | 1,376,573,233 | 2,316,386,562 | 1,376,573,233 | 68 |
Cost of Sales | (1,777,604,504) | (1,128,223,207) | (1,777,604,504) | (1,128,223,207) | 58 |
Gross Profit | 538,782,058 | 248,350,026 | 538,782,058 | 248,350,026 | 117 |
Other Operating Income | 17,510,526 | 5,264,264 | 17,510,526 | 5,264,264 | 233 |
Distribution Costs | (159,868,198) | (92,592,884) | (159,868,198) | (92,592,884) | 73 |
Administrative Expenses | (89,137,106) | (72,775,001) | (89,137,106) | (72,775,001) | 22 |
Other Operating Expenses | (219,178) | (256,524) | (219,178) | (256,524) | (15) |
Finance Cost | (15,015,850) | (8,262,961) | (15,015,850) | (8,262,961) | 82 |
Profit before Tax | 292,052,252 | 79,726,920 | 292,052,252 | 79,726,920 | 266 |
Share of Profit from Joint Venture Companies | 77,542,440 | 31,001,752 | 77,542,440 | 31,001,752 | 150 |
Income Tax Expense | - | (11,939,735) | - | (11,939,735) | (100) |
Profit for the Period | 369,594,692 | 98,788,937 | 369,594,692 | 98,788,937 | 274 |
Other Comprehensive Income | - | - | - | - | |
Total Comprehensive Income | 369,594,692 | 98,788,937 | 369,594,692 | 98,788,937 | |
Earnings per Share - Basic | 23.10 | 6.17 | 23.10 | 6.17 | 274 |
The above figures are provisional and subject to audit.
I certify that the above Financial Statements have been prepared in compliance with the reqirements of the Companies Act No. 07 of 2007.
Sgd: Mr. Shafraz Hussaindeen
Financial Controller
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Sgd: Mr. Yakooth Naleem | Sgd: Mr. Riyal Yakoob |
Managing Director | Executive Director |
28-Jul-2022 |
Bairaha Farms PLC.
Statement of Profit or Loss and Other Comprehensive Income - Company
For the Three Months ended 30th June 2022
Unaudited | Unaudited | Unaudited | Unaudited | ||
for the three | for the three | for the quarter | for the quarter | ||
months ended | months ended | ended | ended | Group | |
30.06.2022 | 30.06.2021 | 30.06.2022 | 30.06.2021 | Change | |
% | |||||
Rs | Rs | Rs | Rs | +/(-) | |
Revenue | 2,202,954,250 | 1,013,139,262 | 2,202,954,250 | 1,013,139,262 | 117 |
Cost of Sales | (1,774,377,513) | (962,401,825) | (1,774,377,513) | (962,401,825) | 84 |
Gross Profit | 428,576,737 | 50,737,437 | 428,576,737 | 50,737,437 | 745 |
Other Operating Income | 109,073,089 | 108,868,062 | 109,073,089 | 108,868,062 | 0 |
Distribution Costs | (132,814,012) | (75,734,248) | (132,814,012) | (75,734,248) | 75 |
Administrative Expenses | (75,557,732) | (59,588,220) | (75,557,732) | (59,588,220) | 27 |
Other Operating Expenses | (219,178) | (256,524) | (219,178) | (256,524) | (15) |
Finance Cost | (7,520,450) | (6,672,129) | (7,520,450) | (6,672,129) | 13 |
Profit before Tax | 321,538,454 | 17,354,378 | 321,538,454 | 17,354,378 | (1753) |
Income Tax Expense | - | (8,903,835) | - | (8,903,835) | (100) |
Profit for the Period | 321,538,454 | 8,450,543 | 321,538,454 | 8,450,543 | 3705 |
Other Comprehensive Income | - | - | - | - | |
Total Comprehensive Income | 321,538,454 | 8,450,543 | 321,538,454 | 8,450,543 | |
Earnings per Share - Basic | 20.10 | 0.53 | 20.10 | 0.53 | 3705 |
The above figures are provisional and subject to audit.
I certify that the above Financial Statements have been prepared in compliance with the reqirements of the Companies Act No. 07 of 2007.
Sgd: Mr. Shafraz Hussaindeen | - |
Financial Controller |
The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
Sgd: Mr. Yakooth Naleem | Sgd: Mr. Riyal Yakoob |
Managing Director | Executive Director |
28-Jul-2022 |
Bairaha Farms PLC.
Statement of Changes in Equity
For the Three Months ended 30th June 2022
Actuarial Gain | ||||||
Stated | Revaluation | Fair Value | on Defined | |||
Capital | Surplus | Reserve | Benefit Plans | Retained Earnings | Total | |
Rs | Rs | Rs | Rs | Rs | Rs | |
Group | ||||||
Balance as at 1st April 2021 | 256,305,197 | 573,011,179 | (1,014,107) | (5,557,842) | 3,268,176,823 | 4,090,921,251 |
Profit for the three months ended 30th June 2021 | - | - | - | - | 98,788,937 | 98,788,937 |
Dividends | - | - | - | - | (48,000,000) | (48,000,000) |
Balance as at 30th June 2021 | 256,305,197 | 573,011,179 | (1,014,107) | (5,557,842) | 3,318,965,760 | 4,141,710,188 |
Company | ||||||
Balance as at 1st April 2021 | 256,305,197 | 183,956,592 | (1,014,107) | (5,557,842) | 1,059,809,870 | 1,493,499,711 |
Profit for the three months ended 30th June 2021 | - | - | - | - | 8,450,543 | 8,450,543 |
Dividends | - | - | - | - | (48,000,000) | (48,000,000) |
Balance as at 30th June 2021 | 256,305,197 | 183,956,592 | (1,014,107) | (5,557,842) | 1,020,260,414 | 1,453,950,254 |
Group | ||||||
Balance as at 1st April 2022 | 256,305,197 | 572,830,044 | (1,254,207) | (3,968,043) | 3,960,977,491 | 4,784,890,482 |
Profit for the three months ended 30th June 2022 | - | - | - | - | 369,594,692 | 369,594,692 |
Dividends | - | - | - | - | (96,000,000) | (96,000,000) |
Balance as at 30th June 2022 | 256,305,197 | 572,830,044 | (1,254,207) | (3,968,043) | 4,234,572,183 | 5,058,485,174 |
Company | ||||||
Balance as at 1st April 2022 | 256,305,197 | 183,956,592 | (1,254,207) | (3,968,043) | 1,326,787,653 | 1,761,827,192 |
Profit for the three months ended 30th June 2022 | - | - | - | - | 321,538,454 | 321,538,454 |
Dividends | - | - | - | - | (96,000,000) | (96,000,000) |
Balance as at 30th June 2022 | 256,305,197 | 183,956,592 | (1,254,207) | (3,968,043) | 1,552,326,107 | 1,987,365,646 |
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