Ceylon Cold Stores PlcCSELK: CCS.N0000

Interim Financial Statements as @ 30th June 2025

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Ceylon Cold Stores PLC

Interim Financial Statements

30th June 2025

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

1

INTERIM CONDENSED FINANCIAL STATEMENTS

CONSOLIDATED INCOME STATEMENT

For the three months ended 30th June

Notes

2025

2024

Change %

Continuing operations

Goods transferred at a point in time

43,199,775

38,084,962 13

Total revenue from contracts with customers

Cost of sales

43,199,775

(37,527,408)

38,084,962 13

(32,642,816) 15

Gross profit

Other operating income

Selling and distribution expenses Administrative expenses

Other operating expenses

5,672,367

666,103

(1,786,752)

(1,526,913)

(689,020)

5,442,146 4

547,761 22

(1,610,810) 11

(1,376,423) 11

(675,047) 2

Results from operating activities

Finance cost 7

Finance income 7

2,335,785

(600,580)

22,002

2,327,627 -

(620,283) (3)

23,838 (8)

Net Finance cost

Profit before tax

Tax expense 6

(578,578)

1,757,207

(664,538)

(596,445) (3)

1,731,182 2

(556,306) 19

Profit for the period

1,092,669

1,174,876 (7)

Attributable to:

Equity holders of the parent

1,092,669

1,174,876 (7)

LKR LKR

Earnings per share

Basic/ Diluted

1.15 1.24

Dividend per share 1.99 0.89

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

2

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

INTERIM CONDENSED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the three months ended 30th June

2025

2024

Profit for the period

Other comprehensive income

Other comprehensive income not to be reclassified to income statement in subsequent periods

Net gain/(loss) on equity instruments at fair value through other comprehensive income

1,092,669

(518,262)

1,174,876

132,795

Net other comprehensive income not to be reclassified to income statement in subsequent periods

Tax on other comprehensive income

(518,262)

(15,466)

132,795

-

Other comprehensive income/(loss) for the period, net of tax

(533,728)

132,795

Total comprehensive income for the period, net of tax

558,941

1,307,671

Attributable to:

Equity holders of the parent

558,941

1,307,671

558,941

1,307,671

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

3

INTERIM CONDENSED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at

30.06.2025

31.03.2025

ASSETS

Non-current assets Property,plant and equipment Right-of-use asset Investment property Intangible assets

Non-current financial assets

Other non-current assets

30,329,502

10,533,480

691,126

4,660,507

7,022,516

1,248,008

29,967,041

10,540,072

691,126

4,597,450

7,522,358

1,222,463

54,485,139

54,540,510

Current assets

Inventories

Trade and other receivables Amounts due from related parties Income tax receivable

Other current assets

Cash in hand and at bank

13,941,098

5,684,488

31,858

124,928

2,263,973

956,782

14,895,225

9,183,715

57,173

124,928

1,369,605

1,713,754

23,003,127

27,344,400

Total assets

77,488,266

81,884,910

EQUITY AND LIABILITIES

Equity attributable to equity holders of the parent

Stated capital Revenue reserves

Other components of equity

918,200

17,246,766

4,486,055

918,200

18,051,326

4,995,022

Total equity

22,651,021

23,964,548

Non-current liabilities

Interest-bearing loans and borrowings Lease liabilities

Deferred tax liabilities

Employee benefit liabilities Other non-current liabilities

3,263,180

11,531,099

3,814,852

1,105,500

125,763

3,150,023

11,383,724

3,932,054

1,068,555

125,689

19,840,394

19,660,045

Current liabilities

Trade and other payables Amounts due to related parties Income tax liabilities

Short-term borrowings

Interest-bearing loans and borrowings Lease liabilities

Other current liabilities

Bank overdrafts

18,970,129

841,249

671,260

2,247,953

2,255,869

738,659

1,605,409

7,666,323

20,856,959

993,970

698,866

1,318,487

2,506,050

715,835

2,141,842

9,028,308

34,996,851

38,260,317

Total equity and liabilities

77,488,266

81,884,910

LKR LKR

Net assets per share 23.83 25.22

Note : All values are in LKR '000s, unless otherwise stated.

The above figures are not audited.

I certify that the financial statements comply with the requirements of the Companies Act No.07 of 2007.



P N Fernando

Chief Financial Officer / Director

The Board of Directors is responsible for these Financial Statements.



D P Gamlath

Director

29th July 2025

Colombo

J G A Cooray

Director

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

4

INTERIM CONDENSED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to equity holders of Parent

Stated

Revaluation

Other capital

Fair value

Revenue

Total

capital

reserve

reserves

reserve of

reserves

Equity

financial

assets

at FVOCI*

918,200

2,147,600

712,608

605,812

16,066,477

20,450,697

As at 1 April 2024

Profit for the period

-

-

-

-

1,174,876

1,174,876

Other comprehensive income

-

-

-

132,795

-

132,795

Total comprehensive income

-

-

-

132,795

1,174,876

1,307,671

Share based payment transactions

-

-

19,831

-

-

19,831

Final dividend paid - 2023/24

-

-

-

-

(845,842)

(845,842)

Preference share dividend paid - 2023/24

-

-

-

-

(14)

(14)

As at 30 June 2024

918,200

2,147,600

732,439

738,607

16,395,497

20,932,343

918,200

2,552,899

803,222

1,638,901

18,051,326

23,964,548

As at 1 April 2025

Profit for the period

-

-

-

-

1,092,669

1,092,669

Other comprehensive loss

-

(20,799)

-

(511,762)

(1,167)

(533,728)

Total comprehensive income

-

(20,799)

-

(511,762)

1,091,502

558,941

Share based payment transactions

-

-

23,594

-

-

23,594

Final dividend paid - 2024/25

-

-

-

-

(1,896,048)

(1,896,048)

Preference share dividend paid - 2024/25

-

-

-

-

(14)

(14)

As at 30 June 2025

918,200

2,532,100

826,816

1,127,139

17,246,766

22,651,021

* FVOCI - Fair value through Other Comprehensive Income

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

5

INTERIM CONDENSED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF CASH FLOWS

For the three months ended 30th June Notes

2025

2024

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before working capital changes A

(Increase) / Decrease in inventories

(Increase) / Decrease in trade and other receivables (Increase) / Decrease in amounts due from related parties (Increase) / Decrease in other current assets

Increase / (Decrease) in trade and other payables Increase / (Decrease) in amounts due to related parties Increase / (Decrease) in other current liabilities

Increase / (Decrease) in other non-current liabilities

3,829,138

800,606

3,456,149

25,315

(894,368)

(1,886,829)

(152,721)

(722,213)

74

3,535,408

1,563,988

1,746,939

137,919

(232,411)

(1,288,673)

(838,050)

(464,211)

(1,121)

Cash generated from operations

Finance income received * Finance costs paid ** Income tax paid

Employee benefit (gratuity) paid

4,455,151

22,216

(248,722)

(639,032)

(17,225)

4,159,787

23,458

(288,833)

(194,089)

(22,866)

Net cash flow from operating activities

3,572,388

3,677,457

CASH FLOWS USED IN INVESTING ACTIVITIES

Purchase and construction of property, plant and equipment Purchase of intangible assets

Proceeds from sale of property, plant and equipment

Proceeds from sale of intangible assets

(1,116,464)

(263,170)

1,091

15,450

(787,741)

(120,496)

2,891

-

Net cash flow used in investing activities

(1,363,093)

(905,345)

CASH FLOWS USED IN FINANCING ACTIVITIES

Dividend paid to equity holders of parent Dividend paid to preference shareholders

Proceeds from interest-bearing loans and borrowings Repayment of long term interest-bearing borrowings Repayment of lease liability

Proceeds from short term borrowings

(1,896,048)

(14)

542,226

(679,250)

(500,662)

929,466

(845,842)

(14)

58,280

(665,348)

(517,760)

312,479

Net cash flow used in financing activities

(1,604,282)

(1,658,205)

NET INCREASE IN CASH AND CASH EQUIVALENTS

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD

605,013

(7,314,554)

1,113,907

(6,107,738)

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD

(6,709,541)

(4,993,831)

ANALYSIS OF CASH AND CASH EQUIVALENTS

Favourable balances Cash in hand and at bank Unfavourable balances Bank overdrafts

956,782

(7,666,323)

1,435,172

(6,429,003)

Total Cash and cash equivalents

(6,709,541)

(4,993,831)

*

Excludes interest adjustment on staff loan rate difference

**

Excludes interest expense on lease liabilities

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

6

INTERIM CONDENSED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF CASH FLOWS

For the three months ended 30th June

2025

2024

A. Profit before working capital changes

Profit before tax

Adjustments for:

Finance income Finance cost

Share-based payment expense

Depreciation of property, plant and equipment Amortisation of intangible assets

Gain on sale of property, plant and equipment Gain on sale of intangible assets

Amortisation of right of use assets Foreign exchange loss on lease liability

Provision for/ (reversal of) slow moving inventory

Provision for/ (reversal of) impairment of trade and other receivables Employee benefit provisions and related costs

1,757,207

(22,002)

600,580

23,594

753,304

185,891

(392)

(1,228)

328,969

2,065

153,521

(6,541)

54,170

1,731,182

(23,838)

620,283

19,831

659,759

162,127

(550)

-306,928

2,844

(4,097)

4,791

56,149

3,829,138

3,535,408

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

7

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

INTERIM CONDENSED FINANCIAL STATEMENTS

COMPANY INCOME STATEMENT

For the three months ended 30th June Notes

2025

2024 Change %

Continuing operations

Goods transferred at a point in time

5,845,558

6,025,755 (3)

Total revenue from contracts with customers

Cost of sales

5,845,558

(3,838,704)

6,025,755 (3)

(3,901,918) (2)

Gross profit

Dividend income

Other operating income

Selling and distribution expenses Administrative expenses

Other operating expenses

2,006,854

1,052,751

262,278

(1,238,126)

(447,251)

(164,205)

2,123,837 (6)

245,650 329

184,817 42

(1,068,333) 16

(401,199) 11

(208,410) (21)

Results from operating activities

Finance cost 7

Finance income 7

1,472,301

(81,013)

8,180

876,362 68

(56,598) 43

10,241 (20)

Net finance cost

Profit before tax

Tax expense 6

(72,833)

1,399,468

(105,848)

(46,357) 57

830,005 69

(184,226) (43)

Profit for the period

1,293,620

645,779 100

LKR

LKR

Dividend per share

1.99

0.89

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

8

INTERIM CONDENSED FINANCIAL STATEMENTS

COMPANY STATEMENT OF COMPREHENSIVE INCOME

For the three months ended 30th June 2025 2024

Profit for the period

1,293,620

645,779

132,795

Other comprehensive income

Other comprehensive income not to be reclassified to income statement

in subsequent periods

Net gain/(loss) on equity instruments at fair value through other comprehensive

income

(518,262)

Net other comprehensive income not to be reclassified to income

(518,262)

132,795

statement in subsequent periods

Tax on other comprehensive income

6,500

-

Other comprehensive income/(loss) for the period, net of tax

(511,762)

132,795

Total comprehensive income for the period, net of tax

781,858

778,574

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

9

INTERIM CONDENSED FINANCIAL STATEMENTS

COMPANY STATEMENT OF FINANCIAL POSITION

As at

30.06.2025

31.03.2025

ASSETS

Non-current assets

Property,plant and equipment

6,634,478

6,569,368

Right-of-use asset

471,335

483,823

Investment property

377,104

377,104

Intangible assets

1,435,977

1,452,648

Investments in subsidiaries

2,968,410

2,968,410

Non-current financial assets

6,792,326

7,295,016

Other non-current assets

50,690

51,701

18,730,320

19,198,070

Current assets

Inventories

3,066,579

2,958,077

Trade and other receivables

2,516,472

4,137,139

Amounts due from related parties

218,920

329,053

Other current assets

831,140

449,443

Cash in hand and at bank

397,851

479,847

7,030,962

8,353,559

Total assets

25,761,282

27,551,629

EQUITY AND LIABILITIES

Stated capital

918,200

918,200

Revenue reserves

11,377,687

11,980,129

Other components of equity

3,033,820

3,534,656

Total equity

15,329,707

16,432,985

Non-current liabilities

Interest-bearing loans and borrowings

594,292

624,316

Lease liabilities

425,669

430,095

Deferred tax liabilities

1,419,458

1,453,601

Employee benefit liabilities

538,826

525,643

Other non-current liabilities

125,763

125,689

3,104,008

3,159,344

Current liabilities

Trade and other payables

2,665,950

2,791,823

Amounts due to related parties

269,048

316,665

Income tax liabilities

183,309

255,233

Interest-bearing loans and borrowings

364,202

381,050

Lease liabilities

17,274

16,878

Other current liabilities

409,440

813,484

Bank overdrafts

3,418,344

3,384,167

7,327,567

7,959,300

Total equity and liabilities

25,761,282

27,551,629

LKR LKR

Net assets per share 16.13 17.29

Note : All values are in LKR '000s, unless otherwise stated.

The above figures are not audited.

I certify that the financial statements comply with the requirements of the Companies Act No.07 of 2007.



P N Fernando

Chief Financial Officer / Director

The Board of Directors is responsible for these Financial Statements.



D P Gamlath

J G A Cooray

Director

Director

29th July 2025

Colombo

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

INTERIM CONDENSED FINANCIAL STATEMENTS

COMPANY STATEMENT OF CHANGES IN EQUITY

10

Stated

Revaluation

Other capital

Fair value

Revenue

Total

capital

reserve

reserves

reserve of

reserves

Equity

financial

assets

at FVOCI*

918,200

1,363,528

408,841

605,812

11,671,714

14,968,095

As at 1 April 2024

Profit for the period

-

-

-

-

645,779

645,779

Other comprehensive income

-

-

-

132,795

-

132,795

Total comprehensive income

-

-

-

132,795

645,779

778,574

Share based payment transactions

-

-

9,167

-

-

9,167

Final dividend paid - 2023/24

-

-

-

-

(845,842)

(845,842)

Preference share dividend paid - 2023/24

-

-

-

-

(14)

(14)

As at 30 June 2024

918,200

1,363,528

418,008

738,607

11,471,637

14,909,980

918,200

1,444,968

450,787

1,638,901

11,980,129

16,432,985

As at 1 April 2025

Profit for the period

-

-

-

-

1,293,620

1,293,620

Other comprehensive loss

-

-

-

(511,762)

-

(511,762)

Total comprehensive income

-

-

-

(511,762)

1,293,620

781,858

Share based payment transactions

-

-

10,926

-

-

10,926

Final dividend paid - 2024/25

-

-

-

-

(1,896,048)

(1,896,048)

Preference share dividend paid - 2024/25

-

-

-

-

(14)

(14)

As at 30 June 2025

918,200

1,444,968

461,713

1,127,139

11,377,687

15,329,707

* FVOCI - Fair value through Other Comprehensive Income

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha Colombo 02

11

INTERIM CONDENSED FINANCIAL STATEMENTS COMPANY STATEMENT OF CASH FLOWS

For the three months ended 30th June

2025

2024

CASH FLOWS FROM OPERATING ACTIVITIES

Profit before tax

Adjustments for:

Finance income Finance cost Dividend income

Depreciation of property, plant and equipment Amortisation of right-of-use assets

Gain on sale of property, plant and equipment Amortisation of intangible assets

Share based payment expenses

Provision for/ (reversal of) slow moving inventory

Provision for/ (reversal of) impairment of trade and other receivables Employee benefit provisions and related costs

Profit before working capital changes

1,399,468 830,005

(8,180) (10,241)

81,013 56,598

(1,052,751) (245,650)

211,579 170,153

12,488 401

(74) (2,887)

40,005 38,755

10,926 9,167

(2,792) 12,383

(2,478) 6,640

23,662 29,600

712,866 894,924

(Increase) / Decrease in inventories

(Increase) / Decrease in trade and other receivables (Increase) / Decrease in amounts due from related parties (Increase) / Decrease in other current assets

Increase / (Decrease) in trade and other payables Increase / (Decrease) in amounts due to related parties Increase / (Decrease) in other current liabilities Increase / (Decrease) in other non-current liabilities Cash generated from operations

(105,710) 427,930

1,612,817 1,087,418

110,133 102,291

(381,697) (225,832)

(125,873) 104,750

(47,617) (269,668)

(404,044) (258,774)

74 (1,121)

1,370,949 1,861,918

Finance income received * Finance expenses paid ** Income tax paid

Employee benefit (gratuity) paid

Net cash flow from operating activities

3,949 4,311

(70,670) (56,564)

(205,417) (154,027)

(10,479) (14,783)

1,088,332 1,640,855

CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITIES

Purchase and construction of property, plant and equipment Purchase of intangible assets

Dividend income received

Proceeds from sale of property, plant and equipment

Net cash flow from/ (used in) investing activities

(276,689) (301,166)

(23,334) (10,358)

1,052,751 245,650

74 2,887

752,802 (62,987)

CASH FLOWS USED IN FINANCING ACTIVITIES

Dividend paid to equity holders

Dividend paid to preference shareholders

Proceeds from long term interest-bearing borrowings Repayment of long term interest-bearing borrowings Repayment of lease liabilities

Repayment of short term borrowings

Net cash flow used in financing activities

(1,896,048) (845,842)

(14) (14)

51,128 58,280

(98,000) (25,350)

(14,373) -

- (500,000)

(1,957,307) (1,312,926)

NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (116,173) 264,942

CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD (2,904,320) (1,483,438)

CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD (3,020,493) (1,218,496)

ANALYSIS OF CASH AND CASH EQUIVALENTS

Favourable balances Cash in hand and at bank Unfavourable balances Bank overdrafts

Total cash and cash equivalents

397,851 376,657

(3,418,344) (1,595,153)

(3,020,493) (1,218,496)

* Excludes interest adjustment on staff loan rate difference

** Excludes interest expense on lease liabilities

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions. The above figures are not audited.

12

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

INTERIM CONDENSED FINANCIAL STATEMENTS

OPERATING SEGMENT INFORMATION

Business segments

The following table presents revenue, profit information and other disclosures regarding the Group's business segments.

Manufacturing

Supermarkets

Group Total

2025

2024

2025

2024

2025

2024

For the three months ended 30th June

Goods transferred at a point in time - External revenue

- Inter segment revenue

7,998,528

344,122

8,046,970

372,988

35,201,247

491,870

30,037,992

483,346

43,199,775

835,992

38,084,962

856,334

Total revenue from contracts with customers

8,342,650

8,419,958

35,693,117

30,521,338

44,035,767

(835,992)

38,941,296

(856,334)

Eliminations

Net revenue from contracts with customers

43,199,775

38,084,962

Segment result

1,855,456

1,358,591

1,517,503

1,208,085

3,372,959

2,566,676

Finance cost Finance income

Eliminations / adjustments

(92,715)

8,581

(65,657)

10,902

(507,865)

13,421

(554,626)

12,936

(600,580)

22,002

(1,037,174)

(620,283)

23,838

(239,049)

Profit before tax

1,771,322

1,303,836

1,023,059

666,395

1,757,207

1,731,182

Tax expense*

(278,816)

(371,366)

(385,722)

(184,940)

(664,538)

(556,306)

Profit for the period

1,492,506

932,470

637,337

481,455

1,092,669

1,174,876

Reportable Segment Assets**

31,236,465

26,079,561

46,251,801

43,616,888

77,488,266

69,696,449

Purchase and construction of Property, Plant and Equipment

394,558

414,046

721,906

373,695

1,116,464

787,741

Addition to Intangible Assets

25,775

10,358

237,395

110,138

263,170

120,496

Reportable Segment Liabilities***

14,164,494

9,415,851

40,672,752

39,348,255

54,837,245

48,764,106

Depreciation of Property, Plant and Equipment

285,529

231,690

467,775

428,069

753,304

659,759

Amortization of Intangible Assets

40,737

39,539

145,154

122,588

185,891

162,127

Amortisation of Right of Use Assets

13,811

1,724

315,158

305,204

328,969

306,928

Employee benefit provisions and related costs

24,788

30,692

29,382

25,457

54,170

56,149

Inter-segment revenue and inter-company balances are eliminated on consolidation

*

Manufacturing and Supermarkets segment tax expense includes tax on consolidation adjustments

**

Segment Assets include Investment Property, Unquoted Equity Investments and Right of Use Assets

***

Segment Liabilities include Lease Liabilities

Note : All values are in LKR '000s, unless otherwise stated.

Figures in brackets indicate deductions.

The above figures are not audited.

CEYLON COLD STORES PLC (PQ4) 13

No. 117, Sir Chittampalam A Gardiner Mawatha Colombo 02

INTERIM CONDENSED FINANCIAL STATEMENTS

NOTES TO INTERIM CONDENSED FINANCIAL STATEMENTS

  1. CORPORATE INFORMATION

    Ceylon Cold Stores PLC is a Public Limited Company incorporated and domiciled in Sri Lanka and listed on the Colombo Stock Exchange. Ordinary shares of the Company are listed on the Colombo Stock Exchange.

  2. INTERIM CONDENSED FINANCIAL STATEMENTS

    The Consolidated Financial Statements for the three months ended 30th June 2025, comprise "the Company" referring to Ceylon Cold Stores PLC as the Holding Company and "the Group" referring to the companies whose accounts have been consolidated therein.

  3. APPROVAL OF FINANCIAL STATEMENTS

    The Interim Condensed Financial Statements of the Group and the Company for the three months ended 30th June 2025 were authorized for issue by the Board of Directors on 29th July 2025.

  4. BASIS OF PREPARATION AND CHANGES TO THE GROUP'S ACCOUNTING POLICIES

    1. Basis of Preparation

      The Interim Condensed Consolidated Financial Statements for the three months ended 30th June 2025 have been prepared in accordance with LKAS 34 Interim Financial Reporting.

      The Interim Condensed Consolidated Financial Statements do not include all the information and disclosures required in the Annual Financial Statements, and

      should be read in conjunction with the Group's Annual Consolidated Financial Statements as at 31st March 2025.

      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 those of the current period.

      The Interim Condensed Financial Statements are presented in Sri Lankan Rupees (LKR) and all values are rounded to the nearest thousand except when otherwise indicated.

    2. Fair value measurement and related fair value disclosures

      The fair values of all the financial assets and financial liabilities recognised during the period were not materially different from the transaction prices at the date of initial recognition. There were no transfers between Level 1 and Level 2 and no transfers into or out of Level 3 categories as per the fair value hierarchy, during the period. The fair value changes on financial instruments in Level 3 category was properly recorded in the Statement of Other Comprehensive Income and there were no purchases and/or disposals during the period.

      Fair valuation was done as of 30th June 2025 for all unquoted equity shares classified as Level 3 within the fair value hierarchy according to fair valuation methodology. Fair value would not significantly vary if one or more of the inputs were changed.

  5. OPERATING SEGMENTS

    For management purposes, the Group is organized into business units based on their products and services and has two reportable operating segments of manufacturing and supermarkets.

  6. TAX EXPENSE Group Company

For the three months ended 30th June 2025 2024 2025 2024

In LKR'000s

Income statement

Current income tax

Deferred tax charge/ (reversal)

797,206

(132,668)

428,667

127,639

133,493

(27,645)

210,626

(26,400)

664,538

556,306

105,848

184,226

7 NET FINANCE COST

For the three months ended 30th June

Group

2025

2024

Company

2025 2024

In LKR'000s

Finance income

Interest income - staff loans

Interest income - short-term investments

18,922

3,080

22,151

1,687

7,877

303

9,855

386

Total finance income

22,002

23,838

8,180

10,241

Finance costs

Interest expense on lease liabilities

(351,857)

(331,448)

(10,342)

(34)

Interest expense on borrowings - Long-term

(127,727)

(174,641)

(20,470)

(24,284)

Interest expense on borrowings - Short-term

(120,996)

(114,194)

(50,201)

(32,280)

Total finance cost

(600,580)

(620,283)

(81,013)

(56,598)

Net finance cost

(578,578)

(596,445)

(72,833)

(46,357)

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

14

Entity including its affiliated entities with significant influence over parent

Purchase of goods

Rendering of services

838,453

4,503

1,051,907

3,039

426,353

-

478,948

-

Ultimate Parent

Sale of goods

Receiving of services

Purchase of intangible assets

284

193,611

123,647

995

126,164

-

-

52,969

35,004

-

43,333

-

Subsidiaries

Sale of goods

Purchase of goods

Rendering of services

Receiving of services

Royalty income

Dividend received

-

-

-

-

-

-

-

-

-

-

-

-

320,077

113,913

106,087

53,411

99,884

1,052,751

307,408

70,212

65,744

19,350

95,768

245,650

Companies under common control

Sale of goods

Purchase of goods

Purchase of property, plant & equipment / intangible assets

Rendering of services

Receiving of Services

Franchise income received

83,614

467,440

30,321

32,965

166,193

3,986

58,278

400,463

4,051

13,884

139,701

3,126

1,838

-

-

22,846

47,188

3,986

2,426

147

-

11,287

30,447

3,126

Key Management personnel (KMP)

Sale of goods

INTERIM CONDENSED FINANCIAL STATEMENTS

8

RELATED PARTY TRANSACTIONS

Group

Company

For the three months ended 30th June

2025

2024

2025

2024

In LKR '000s

Transactions with related parties

-

-

-

-

-

-

-

-

Companies controlled/ jointly controlled/ significantly influenced by KMP and their close family members

Sale of goods

-

-

-

-

54,390

48,414

48,789

43,338

7,229

6,454

-

-

3,440

1,380

-

-

95,348

84,078

73,607

84,078

(790)

(3,122)

54

(2,035)

3,407

3,832

-

-

9

Share information

9.1

Stated capital

Stated capital is represented by number of shares in issue as given below;

As at

30-06-2025

31-03-2025

Ordinary shares

950,400,000

950,400,000

Preference shares

25,000

25,000

9.2

Net assets per share

Net assets per share has been calculated, for all periods, based on the number of shares in issue as at 30th June 2025.

Close family members of KMP

Sale of goods

Post employment benefit plan

Contributions to the provident fund

Transactions with related parties - equity accounted

investees of Ultimate Parent

Sale of goods

Rendering of services

Receiving of Services

Interest received / (paid)

Rent received

9.3

Market price per share

For the three months ended 30th June

2025 2024

LKR LKR

Highest

119.00

67.50

Lowest

74.00

52.50

Last traded

113.50

59.90

15

CEYLON COLD STORES PLC (PQ4)

No. 117, Sir Chittampalam A Gardiner Mawatha

Colombo 02

INTERIM CONDENSED FINANCIAL STATEMENTS

9.4

Public share holdings

Percentage of shares held by the public and the number of public shareholders is given below:

As at

30-06-2025

31-03-2025

Public share holding (%)

18.55%

18.55%

Public share holders

4,284

4,022

Compliant under option 01 - Float adjusted market capitalization (LKR Mn)

20,010

14,457

The Company is compliant under option 01 of the minimum threshold requirements for the Main Board of CSE , as per section 7.13 of the listing rules of CSE.

9.5

Directors' share holdings

The number of shares held by the Board of Directors (including their spouses) are as follows;

30-06-2025

31-03-2025

Number of

shares

Number of

shares

819,040

819,040

Nil

Nil

Nil

Nil

45,000

45,000

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

N/A

Nil

N/A

40,000

As at

Mr. K.N.J. Balendra - Chairperson Mr. J.G.A. Cooray

Mr. D.P. Gamlath Mr. K.C. Subasinghe Ms. P.N. Fernando

Mr. S. Kanag-Isvaran Ms. R.N.K. Fernando

Mr. H.A.J. De Silva Wijeyeratne

Dr. R.S.W. Wijeratnam (Resigned w.e.f. 20.06.2025) Ms. S.T. Ratwatte (Resigned w.e.f. 20.06.2025)

9.6

Twenty largest shareholders of the Company are as follows:

As at 30-06-2025 31-03-2025

Number of

shares

%

Number of

shares

%

1 John Keells Holdings PLC

671,558,120

70.66%

671,558,120

70.66%

2 Whittall Boustead (Pvt) Ltd

101,653,920

10.70%

101,653,920

10.70%

3 GF Capital Global Ltd

22,892,410

2.41%

22,542,410

2.37%

4 BBH Lux fidelity Funds-Pacific Fund

16,373,511

1.72%

17,686,730

1.86%

5 JPMCB NA- Fidelity Asian Values PLC

7,726,110

0.81%

7,726,110

0.81%

6 Seylan Bank PLC/ARRC Capital (Pvt) Ltd

6,530,274

0.69%

5,451,076

0.57%

7 BBH-Redwheel Frontier Markets Equity Master Fund Limited

6,213,331

0.65%

6,213,331

0.65%

8 CACEIS Bank, Luxembourg Branch-NEF

3,750,107

0.39%

3,750,107

0.39%

9 J.B. Cocoshell (Pvt) Ltd

2,779,665

0.29%

2,429,665

0.26%

10 Sisira Investors Ltd

2,591,320

0.27%

2,591,320

0.27%

11 Deutsche Bank AG as trustee for JB Vantage Value Equity Fund

2,390,290

0.25%

1,411,390

0.15%

12 Life Insurance Corporation (Lanka) Ltd

1,744,120

0.18%

1,744,120

0.18%

13 Mrs. J R Printer (Deceased)

1,679,360

0.18%

1,679,360

0.18%

14 Hatton National Bank PLC-Senfin Growth Fund

1,627,050

0.17%

1,627,050

0.17%

15 Mr. H Yusoof

1,600,000

0.17%

1,600,000

0.17%

16 First Capital Asset Management/Merrill J Fernando & Sons (Pvt) Ltd

1,508,480

0.16%

-

0.00%

17 Commercial Bank of Ceylon PLC A/C No. 03

1,375,000

0.14%

1,375,000

0.14%

18 Mr. M V Theagarajah

1,335,480

0.14%

1,335,480

0.14%

19 DCS CLT ACC for Deutsche Bank AG Singapore - PWM WM Client

1,255,815

0.13%

1,330,623

0.14%

20 Mrs. H.M. Mount (Deceased)

1,253,600

0.13%

1,253,600

0.13%

10

Dividends paid

For the three months ended 30th June

2025

2024

In LKR '000s

Final dividend for 2024/25 - LKR 1.995 per share (2023/24 - LKR 0.89 per share)

1,896,048

845,842

11

Contingencies, capital and other commitments

There has been no significant change in the nature of the contingencies and other commitments, which were disclosed in the Annual Report for the year ended 31st March 2025.

12

Retirement of Directors

Ms. S.T. Ratwatte and Dr.(Ms.) R.S.W. Wijeratnam were re-designated as Non Independent Non-Executive Directors on the Board of Ceylon Cold Stores PLC with effect from 16th June 2025 upon the completion of nine years of service on the Board as at that date. The said directors retired as from the Board with effect from, and upon the conclusion of the Annual General Meeting for the financial year 2024/2025, held on 20th June 2025.

13

Events after the reporting period

There were no material events occurring after reporting period that required adjustment to or disclosure to the Financial Statements other than following.

The Board of Directors has approved the payment of the first interim dividend of LKR 0.997 per share to be paid on or before 27th August 2025.

As required by section 56 (2) of the Companies Act, No. 07 of 2007, the Board of Directors has confirmed that the Company satisfies the solvency test in accordance with Section 57 of the Companies Act, No. 07 of 2007, and has obtained a certificate from the auditors, prior to approving the first interim dividend.

In accordance with LKAS 10, Events after the reporting period, the first interim dividend has not been recognised as a liability in the Financial Statements as at 30th June 2025.



Ceylon Cold Stores PLC

No. 117, Sir Chittampalam A. Gardiner Mawatha,

Colombo 02.

Tel: +94 112 318798

E-mail : info.ccs@keells.com

Web : https://www.elephanthouse.lk

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