GRAPHITE
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Bogala Graphite Lanka PLC
Interim filnanclal Stateman6
Fortha Pa#od anded 31st Mamh 1025
BOGALA GRAPHITE LANKA PLC | ||||
Statement of Profit or Loss and Other Comprehensive Income | ||||
For the | Quarter ended 31st March | Variance | ||
2025 LKR.'000 | 2024 LKR.'000 | LKR.'000 | % | |
Revenue | 400,850 | 482,004 | (81,156) | (17) |
Cost of Sales | (234,848) | (273,389) | 38,541 | 14 |
Gross Profit | 166,002 | 208,615 | (42,615) | (20) |
Other Income | 1,716 | 822 | 894 | > 100% |
Net Exchange Gain/(Loss) | 17,722 | (72,141) | 89,863 | > 100% |
Administrative Expenses | (44,355) | (39,228) | (5,126) | (13) |
Selling and Distribution Expenses | (55,225) | (70,379) | 15,154 | 22 |
Profit from Operation | 85,860 | 27,689 | 58,170 | > 100% |
Finance Income | 7,567 | 3,068 | 4,499 | > 100% |
Finance Expenses | (61) | (112) | 51 | 45 |
Profit Before Tax | 93,366 | 30,645 | 62,719 | > 100% |
Income Tax Expenses | (28,641) | (23,865) | (4,774) | (20) |
Profit for the year | 64,725 | 6,780 | 57,945 | > 100% |
Other Comprehensive Income | ||||
Re-measurement of defined benefit liability | - | - | - | - |
Related tax | - | - | - | |
Revaluation of freehold land | - | - | - | |
Deferred tax on revaluation surplus as freehold land | - | - | - | - |
Other comprehensive income net of tax | - | - | - | - |
Total Comprehensive Income for the year | 64,725 | 6,780 | 57,945 | > 100% |
Basic earnings per share (LKR) | 0.68 | 0.07 | 0.61 | > 100% |
The above figures are subject to audit.
BOGALA GRAPHITE LANKA PLC | ||
Statement of Financial Position | ||
As at | 31st March 2025 LKR.'000 | 31st December 2024 LKR'.000 |
ASSETS | ||
Property, plant and equipment | 618,174 | 613,820 |
Intangible assets | 8,263 | 6,771 |
Consumable biological assets | 6,639 | 6,639 |
Other financial assets | 18,158 | 14,266 |
Deferred Tax Assetes | 11,082 | 14,648 |
Non-Current Assets | 662,317 | 656,144 |
Inventories | 282,939 | 268,150 |
Trade and Other Receivables | 267,913 | 266,672 |
Advances and Prepayments | 21,170 | 21,074 |
Other Financial Assets | 12,895 | 6,749 |
Cash and Cash Equivalents | 969,134 | 918,230 |
Current Assets | 1,554,051 | 1,480,875 |
Total Assets | 2,216,368 | 2,137,019 |
EQUITY | ||
Stated Capital | 102,074 | 102,074 |
Reserves | 11,889 | 11,889 |
Retained Earnings | 1,793,350 | 1,728,625 |
Total Equity | 1,907,313 | 1,842,588 |
Liabilities | ||
Provision for restoration | 2,485 | 2,423 |
Employee Benefits | 119,941 | 121,868 |
Non-Current Liabilities | 122,426 | 124,291 |
Trade and Other Payables | 113,478 | 107,288 |
Current Taxation | 73,151 | 62,852 |
Current Liabilities | 186,629 | 170,140 |
Total Liabilities | 309,055 | 294,431 |
Total Equity and Liabilities | 2,216,368 | 2,137,019 |
Net Assets Per Share (LKR) | 20.15 | 19.47 |
These financial statements have been prepared in compliance with the requirements of the Companies Act No 07 of 2007. Sgd. Sugath Amarasinghe Finance Director The Board of Directors is responsible for the preparation and presentation of these financial statements. Approved for and on behalf of the Board of Directors. Sgd. Sgd. Amila Jayasinghe Coralie Pietersz Director Director 7th May 2025 | ||
The above figures are subject to audit.
The above figures are subject to audit.
The above figures are subject to audit.
Notes to the Financial Statements-
Reporting Entity
Bogala Graphite Lanka PLC is a limited liability Company incorporated and domiciled in Sri Lanka and listed on the Colombo Stock Exchange. The registered office and the principal place of business are located at Bogala Mines, 71041 Aruggammana.
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Basis of Preparation
The Interim Financial Statements of the company for the period ended 31stMarch 2025 have been prepared on the same basis as the most recent audited financial statements and are in compliance with Sri Lanka Accounting Standards - LKAS 34 Interim Financial Reporting and on, going concern basis and are provisional and unaudited.
The accounting policies have been consistently applied by the Company and, are consistent with those used in the annual report for the year ended 31st December 2024. The presentation and classification of the financial statements of the previous period have been amended, where relevant, for better presentation and to be comparable with the current period.
Financial Statements are in compliance with the Companies Act No.07 of 2007, the Sri Lanka Accounting and Auditing Standards Act No.15 of 1995 and CSE Guidelines.
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Approval of Financial Statements
The interim financial statements of the Company for the period ended 31stMarch 2025 were authorized by the Board of Directors on 7thMay 2025.
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Fair value measurement and related fair value disclosure
The fair value and carrying value of all the financial assets and financial liabilities, recognised during the quarter were not materially different from that disclosed in the annual report for the year ended 31stDecember 2024.
There were no transfers between different levels of fair value hierarchy or changes to assets classes classified on recurring and non-recurring basis. Valuation techniques or significant unobservable inputs used for measuring level 2 and level 3 fair values remains unchanged from 31stDecember 2024.
During the period under review there were no transfers in and out of level 3 financial instrument measurement and any change in fair values are captured in the statement of other comprehensive income. Fair value of the Land has been determined under the Level 3 valuation.
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Intangible Assets
Intangible assets include exploration and evaluation expenditure and software licenses. There has not been a change to recognition and measurement, and their amortization basis compared to that used in the last audited financials.
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Inventories
No significant negative impact is expected on the selling price of processed materials or cost to complete deliveries. Further no significant impact on the net realizable value of inventory is expected.
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Foreign Currency Transactions
The Company recognizes the foreign currency transactions in line with the LKAS 21 The Effects of Changes in Foreign Exchange Rates. Transactions in foreign currency are translated to the functional currency at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the spot rate prevailing at the reporting date. Foreign exchange differences arising on foreign exchange transactions are recognized in the Statement of Profit or Loss and Other Comprehensive Income. Company uses the Central Bank of Sri Lanka published exchange rates for the above purposes.
Net Exchange gain shown separately in the Statement of Profit or Loss and Other Comprehensive Income amounts to LKR 17.7Mn for the period ended 31stMarch 2025. Net Exchange loss for the comparative period was LKR 72.1Mn.
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Related Party Transactions
All related party transactions have been conducted on agreed commercial terms with the respective parties. The Company has not had any special transactions with Parent or Affiliate company which required specific agreement or arrangement to made, prior to such transactions, other than what is listed above.
Total aggregated value of the sales made to Parent Company and Affiliates are 13.94%, and 0% respectively.
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Contingencies, capital, and other commitments
There has been no significant change in the nature of the contingencies and other commitments, as disclosed in the annual report for the year ended 31stDecember 2024.
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Provision for restoration cost
The provision reflects the present value of the future estimated cost of restoration of the land once the Company extracts graphite through its activities over 51 years. The number of years is estimated based on the period over which the estimated resources are expected to be extracted. The cost is estimated periodically to reflect the best estimate at each reporting date.
There were no significant differences in the basic assumptions used in estimating the provision for the period under review in comparison to those used in the last audited accounts of 31stDecember 2024.
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Events after the reporting period
There were no material events that have taken place since 31stDecember 2024 that require disclosure in these Financial Statements.
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Non-Financial Information
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Public Share Holding
Percentage of shares held by the public and the number of public shareholders is as given below:
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Net assets per share
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Market price per share
The Company's highest, lowest, and last traded market price is as given below.
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Shareholding of Directors
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Top 20 shareholders
Twenty largest shareholdings as at 31stMarch is as follows.
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Public Share Holding
- Corporate Information
Name of the Company | Bankers |
Bogala Graphite Lanka PLC | Peoples Bank |
Legal Form | The Hongkong and Shanghai Banking Corporation |
A Public Quoted Company with Limited Liability Incorporated in Sri Lanka 1991 | Auditors |
Company Registration Number | Messrs KPMG, Chartered Accountants |
PQ 218 | 32A, Sir Mohammed Macan Markar Mw.Colombo 03 |
Board of Directors | Internal Auditors |
Ms. M.C. Pietersz (Chairperson) - NED | B. R. De Silva & Company Chartered Accountants |
Mr. T.A. Junker (Deputy Chairperson) - NED | 22/4, Vijaya Kumaranathunga Mawatha, Colombo 5 |
Mr. A.P.Jayasinghe (CEO/MD) - ED | Secretaries |
Mr. A. S. R. Amarasinghe (CFO/FD) - ED | Corporate Services (Private) Limited |
Ms. U. Neunzert - NED | 216, De Saram Place, Colombo 10 |
Ms. A. A. Ludowyke - INED | Sri Lanka |
Mr. M.S. J.D. Coorey - INED | Tel: +94112669771 |
Audit Committee | Fax: +94114718220 |
Ms. A. A. Ludowyke (Chairperson) - INED | Email: csl@fjgdesaram.com |
Mr. M.S. J. D. Coorey - INED | Lawyers |
Mr. T.A. Junker - NED | F J & G De Saram |
Related Party Transaction Review Committee | 216 De Saram Place, Colombo 10 |
Mr. M. S. J. D. Coorey (Chairperson) - INED | Sri Lanka |
Ms. A. A. Ludowyke - INED | Tel: +94114605100 |
Mr. T. A. Junker - NED | Fax: +94112669769 |
Mr. A. P. Jayasinghe - ED | Email: fjgdesaram@fjgdesaram.com |
Remuneration Committee | Registered Office |
Mr. M. S. J. D. Coorey (Chairperson) - INED | Bogala Mines, 71041 |
Ms. A. A. Ludowyke - INED | Aruggammana, Sri Lanka |
Mr. T. A. Junker - NED | Email: info@gk-graphite.lk |
Ms. M. C. Pietersz - NED | Corporate Website |
Nomination & Governance Committee | https://www.gk-graphite.lk |
Ms. A. A. Ludowyke (Chairperson) - INED | Parent Company |
Mr. M. S. J. D. Coorey - INED | Graphit Kropfmuhl GmbH |
Mr. T. A. Junker - NED | |
Ms. M. C. Pietersz - NED | NED - Non-Executive Director |
INED - Independent NED | |
ED - Executive Director |