CONVENIENCE FOODS
LAN
INTERI/k REPORT
FOR THE 1ST QUARTER ENDED, 30TH JUNE 2025
LABgW»••l
Tetos
Page 1
Interim Report | Convenience Foods (Lanka) PLC
CORPORATE INFORMATION
NAME OF THE COMPANY
Convenience Foods (Lanka) PLC
COMPANY NUTBER PQ 164
LEGAL FORM
A Public Limited Company listed on the Colombo Stock Exchange.
INCORPORATION
Z7th March 1991 in Sri Lanka
REGISTERED OFFICE
No. 555, High Level Road, Makumbura, Pannipitiya, Sri Lanka.
BUSINESS ACTIVITY
Manufacturing and Marketing of Textured Soya Protein (TSP) and Other Food Products.
DIRECTORS OF THE COMPANY
Ifir. R.S.A. Wickramasingha - Chairman Mr. M.C. Dahanayake - Managing Director Ms. D.S. Wickramasingha - Director
Ms. N.K. Wickramasingha - Oirector Mr. L.J.M. De Silva - Director
is. S. Ratwatte - Director Mr. I. S. Fonseka - Director
Mr. M. Wickremesinghe - Director
AUDITORS
Ernst 6 Young Sri Lanka, Chartered Accountants,
Rotunda Towers, No. 109, Galle Road, Colombo 03, Sri Lanka.
SECRETARIES
P W Corporate Secretarial (Pvt) Ltd, No. 3/ 17, Kynsey Road,
Colombo 08.
REGISTRARS
S S P Corporate Services (Pvt) Ltd, No.101 ,Inner Flower Road, Colombo 03.
BANKERS
Sampath Bank PLC Nations Trust Bank PLC People's Bank
Commercial Bank of Ceylon PLC Hatton National Bank PLC
State Bank of India DFCC Bank PLC
Bank of Ceylon
National Development Bank PLC Standard Chartered Bank
AUDIT B RISK COMMITTEE
Ms. S.T. Ratwatte - Chairperson Mr. I. S. Fonseka
Mr. M.E. Wickremesinghe
REMUNERATION COMMITTEE
hfir. M.E. Wickremesinghe - Chairperson Ms. S.T. Ratwatte
Ms. N.K. Wickramasingha
RELATED PARTY TRANSACTIONS REVIEW COMMITTEE
Mr. I. S. Fonseka - Chairperson Ms. S.T. Ratwatte
Mr. M.E. Wickremesinghe
NOMINATIONS AND GOVERNANCE COMITTEE
Mr. M.E. Wickremesinghe - Chairperson Ms. S.T. Ratwatte
Ms. N.K. Wickramasingha
INVESTOR RELATIONS OFFICER
Mr. Randika Gamhewage Manager - Financial Reporting Email: randikag.cfmcbllk.com
+94 11 500 3000 Ext. 3062
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Interinn Report | Cor›v‹'n ien ce Fuods (Lanka} f'LC
CONVENIENCE FOODS (LANKA) PLC STATEMENT OF COMPREHENSIVE INCOME | ||||
For the 03 Months Ended 30th June | 2025 Rs. | 2024 Rs. | Variance % | |
Revenue | 1,506, 619,305 | 1, 499, 647,071 | 0.5 | |
Cost of Sales | I957. 510.729) | 1987, 472, 692 i | -3.0 | |
Gross Profic | 549, 108,576 | 512,174,379 | 7.2 | |
Selling and Distribution Expenses | I 253,476. 998) | l 248,900,970/ | 1.8 | |
Administrative Expenses | (93.770. 531 ) | 76 318,325) | 22.9 | |
Other Ooerat ing Income | 3,440,029 | 2,096,809 | 64.1 | |
Results from Operating Activities | 205,301,073 | 189,05 1,890 | 8.6 | |
Finance Income | 46 ,970, 966 | 26,982,514 | 74.1 | |
Finance Cost | (4,582,782 l | (2,260,926j | 102.7 | |
Net Finance Income/ (Cost) | 42,388, 84 | 24,721 .588 | 71.5 | |
Profit Before Tax | 247, 689, 257 | 213,773, 478 | 15. 9 | |
Income Tax Expense | 172, 705,434 l | ‹68,805, 126) | 5.7 | |
Profit for the Period | 174,983,8 23 | 144,968,352 | 20.7 | |
Other Comprehensive Income | ||||
Other Comprehensive Income for rhe Period | ||||
Total Comprehensive Income for the Period | 174,98 3,823 | 144,968,352 | 20.7 | |
Basic and Diluted Earnings Per Share | 63.63 | 52.72 | ||
Higurrs in brackets indic atr deduct tons. | ||||
Thr above f iyures are not audi trd. | ||||
Int erim Report | Convenience Foods {Lanka} PLC | |||
CONVENIENCE FOODS (LANKA) PLC STATEMENT OF FINANCIAL POSITION | |||
As at | 30.06.?029 | 31.03.2025 | |
Rs. | |||
Assets | |||
Non Current Assets | |||
Property, Plant and Equipment | 550,900,302 | 564,125,018 | |
Right of Use Assets | 219, 220,317 | 228,043,909 | |
Intangible Assets | 6,183,852 | 6,650,792 | |
Deferred Tax Asset 3,556.884 1.9Sd,765 | |||
Total Non Current Assets | 779,861,355 | 600,774,483 | |
Current Assets | |||
lnventones | 629,707,372 | 634,034,074 | |
Trade and Other Receivables | 1,030,632,883 | 1,008,611,884 | |
Amounts due from Retaced Companies | *d.Z79, 124 | 34,960,0d8 | |
Short Term Fixed Deposits | 2.140,292,660 | 2,027,882,981 | |
Cash and Cash Equivalents | 26,019,414 | 203.984, 146 | |
Total Current Assets | 3,850,93 1,453 | 3,909,473, 133 | |
Total Assets | 4,630,7?i.808 | 4,710, 247.+17 | |
Equity and Liabilities | |||
Equity | |||
Stated Capital | 52,521.178 | II, 521,178 | |
Other Reserves | q1,613,945 | 41.613,945 | |
Retained Earnings | 3,340,640,326 | 3,165,656,503 | |
Total Equity | 3.•>9,775,449 | 3,259,791, 626 | |
Liabtttñes | |||
Non Current Liabilities | |||
Lease Liabilities | 220,748,539 | 227, 273,975 | |
Retirement Benef t Obligation | 109j13,535 | 106,978, 251 | |
Total Non Current Liabilities 3?#96I,0I4 3a<,zsz,zzc | |||
Current Liabilities | |||
Trade and Other Payables | 668,550,810 | 916.211,592 | |
Lease Liab lic es | 25,042,774 | ||
Current Tax Liabilities | ) 08 176, 223 | 100.889,0Z8 | |
Amount due to Related Companies | o4,285, 478 | 74.338,78d | |
Total Current Liabilities | 1, 116. 203, 765 | ||
Total Liabilities | 1,196,017,359 | 1,45O,455, 991 | |
Total Equity and Liabilities | 4,630,792,808 | 4,71O.247,e17 | |
Net assets value per share | 1,249.01 | 1,185.38 | |
It s certified t e Financial Statements have been prepared In compliance with the requirements of the Companies Act No. 7 of 2007.
S. K.. . enzaMne Gener Inager.Finance
T e oard a rs is responsible these financial statements. Approve nd signed for and on behatf of the Board;
D. S. Wickramasingha
Director
31st July 2025
The above figures are not audited.
M. .Da a a ke Managng DDecor
CONVENIENCE FOODS (LANKA) PLC STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 30TH JUNE 2025 | ||||||
Stated Capital Rs. | Other Reserves Rs. | Retained Earnings Rs. | Total Equity Rs. | |||
Balance as at st April 2024 | 52.$21.1 | 8 | -1.613.945 | 2,554,438, 559 | 2.648, 573.682 | |
Profit for the period | 14d .968, 3S2 | 144. 068,352 | ||||
Balance as at 30th June 2024 | 52,521, 178 | 41, 613,945 | 2,699, 406, 911 | 2,793,542,03 4 | ||
Batance as at 1st Apr 1 2025 | 52.521.178 | 41,613.94S | 3.259.791, 626 | |||
Profit fo the period | 174,983 823 | 174.983 . 823 | ||||
Ba lance as at 30th June 2025 | 52,5 21, 17B | 41, 61 3,94 5 | 3,340, 640,3 26 | 3,434,775, 449 | ||
+he above f gures nre not audited.
Interim Report l Convenience Foods (Lanka) PLC
CONVENIENCE FOODS (LANKA) PLC STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30TH JUNE 2025
For the 03 Months Ended 3Oth June
2025
2024
Rs. Rs.
Cash Flows from Operating Activities | |||
Profit Before Tax | Z47.689,257 | 213,773,478 | |
Adjustments for: | |||
Depreciation of Property, Plant and Equipment | 20,810,140 | 23,874,370 | |
Amortization of Intangible Assets | 466,940 | 401,195 | |
Depreciation of Right of Use Assets | 8,823,592 | 3,409,570 | |
Finance Income | (46,970,966) | (26,982,514) | |
Finance Costs | 4,582,782 | 2,260,926 | |
Provision for Retirement Benefit Obligation | 4,642,484 | 5,139,941 | |
Operating Profit before Working Capital Changes | 240,044,2Z9 | 221,876,966 | |
Changes tn Working Capital | |||
tlncrease)/Decrease in Invent ones | 4,326,702 | 146,501, 659 | |
(Increase I/Decrease in Trade and Other Receivables | (22,020,998) | I21,113,774l | |
(Increase I/Decrease in Amount due from Related Companies | 10,680,923 | (10,931,309) | |
Increase/(Oecrease) in Amount due to Related Compan es | 10,053,305) | (69,188,759) | |
Increase/(Decrease) in Trade and Other Payables | 247,660,783l | 113,336,6Z8 | |
Cash Generated from Operations | (24,683,232) | 380,481.411 | |
Gratuity Pa d | (2,407,200) | ||
Interest Paid | (4,582,782) | (2,260,926) | |
Income Tax Paid | T67,020,356) | (16,785,334) | |
Net Cash Flows from Operating Activities | 98,693,570) | 359,620,051 | |
Cash Flows from investing Activities | |||
Purchase of Property. Plant and Equipment | (7,5B5,425) | (17,361,009) | |
Interest Received | 46,970,966 | 26,982,51 4 | |
Investment in Fixed Deposits | (112,409,679) | 1210,218,906) | |
Net Cash Flows Used in Investing Activities | (73,024,138) | (200,597,401) | |
Cash Flows from Financing Activities | |||
Repayment of Lease | t6247,024) | (2284304) | |
Net Cash Flows Used In Financing Activities | (6,247,024) | (2284,304) | |
Net increase in Cash and Cash Equivalents | {177,964,732) | 156,738,345 | |
Cash and Cash Equivalents at the Beginning of the Per1od | 203,984,146 | 128,788.8 16 | |
Cash and Cash Equivalents at the End of the Period | 26,019,414 | 285,527,161 | |
Cash in Hand and at Bank | 26,019,414 | 285 527,161 | |
Cash and Cash Equivalents at the End of thePeriod | 26,O19,414 | 285,527,161 | |
Figures in brackets indicace deductions. | |||
The above figures are not audited. | |||
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Interim Report | Convenience food s | Lanka) PLC
CONVENIENCE FOODS fLANKA) PLC
NOTES TO THE INTERM CONDENSED FINANCIAL STATEMENTS
1 The interim Report
The Interim Condensed Financial Statements have been prepared in compliance Mch Sri Lanka Accounting Standard LKAS 34 -Inter m Financial Reposing, using the same accounting pol c Yes and mechods outlined in the Annual Audiced Financial Statements for the year ended 31st Narch 2D25. These Interim Condensed Financial Statements shoutd be read in conjunction w1th the Annuat Finane at Scatements for the year ended 31st March 2025. Accordingly, the Intenm Report contains notes, comprising significanc accounting policies and explanatory information.
These Statements also provide information required by the Colombo Scock Exchange. Z Corporate Information
Convenience Foods ILanka} PLC is a Public Limited Company incorporated and domiciled in Sri I.anIta and listed In che Colombo Stock Exchange.
The Company s engaged in the manufactunng and marketing of Textured Vegecable Protein tTVPI and ocher food
3 Approval of Financial Statements
The ntenm condensed f nanciaf stacemencs of che Company for the three months period ended 3Qh June 2025 were authorised for issue by the Board of Directors on 31sc Juty 2025.
4 Segmental lnformacion
Segmental information is not presented sJnce the Company does not have distingu shabe comgonencs to be identified as a segment as all operations are treaced as one segment.
S Comparative figures
Certain rectassificat ons have been made to the comparative figures to Improve the comparabiIcy and fair presencazion of bese financial statements. These recfassificatJons have not resulted in changes co the profit for the quarter or total net assets prewousty reported as at 30th June 2024.
6 Significant Unusual Items Affecting Assecs, LlabIl1t1es, Equity. Net Income or Cash Flows
There were no unusual *cems affecting cue assets, liabilities, equity, net ncome or cash flows due to their nacure, size or nctdence for che period ended 30th June Z025.
7 Events After the Reporting Period
There were no sig0ificant events after the reporting period that woutd require adjustments to or disclosures in these interim financial stacemencs for the penod ended 3Qh June 2025.
8 Commitments and Contingencies Financial Commitments
Commitments on account of I.ecters of credit as ar 30th June Z0Z5 was Rs. 53,902,505.78 (31st March 2025: R. 265,774,074}.Shipp ng Guarancees as at 30th June 2025 was Rs. 10,761 ,000.00 (31st March 2025• Nitl. Imports Bills as at 30th June Z025 was Rs. 35,4S7,8dZ.43 l31st fiarch 2025: Rs. 20,733,000).
Caglzal Commitments
There were no significanc capital commitments as af reporting date. Contingencies - Pending Litigations
There has not been a significant change n If+e nature of the contingenc liabilities, which were disclosed in the Annuat Repon for the year ended 31St MarCh 2025. The presentation and cfassifTcarion of the Financial Statements of the previous year have been amended, where relevant, for becrer presentation and to be comparable v• th those of the current financial year.
An appeat 1s pending In the Supreme Cotirt against che judgmenc delivered by the Court of Appeal In favour of the Company, relating co the income tax assessment for the year of assessmenc 1991/1992.
8ased on information currently available , the Management is of the view that the ultimate resolution of this legal marter 1s unlikely to have a matenal ads'erse impact on che Company's fTnancJat position, results of operations, or llqufdlcy. Accordingly, no provision has been recognised in these F nanciaf Statements.
9 Additional Funding
No additional funds were ra sed by the Entiry dur1ng the quarter tfiroush an Initial nublic 0ffer1ng or che issuance of further
interim Report | Convenience Foods {ranka) PLc
CONVENIENCE FOODS (LANKA) PLC ADDITIONAL NOTES
1 Share Pnces during the Quarter and harked Value of Shares
03 Months Ended 30th 03 Moncns Ended 30th June 202fi June 2024
Highest pnce recorded | 8 | 920.00 | |
Lowest price recorded | 1,ZOO.00 | 847.'i0 | |
Last traded pi ice | 873.25 | ||
Market capitalism ion jRs. Mn. I | 3.7S5. 81 | 2,401.44 | |
2 Names and the number of shares held by the 25 major shareholders | |||
As At 30t h June 20 25 | |||
No of Shares | # of holding | ||
1 CBL INVESTMENTS LIMITED | 1,962,977 | 71. $8B | |
2 J.B. COCOSHELL tPVT) LT0 | 207,6Z2 | 7.''SB | |
3 HATTON NATIONAL BANK PLC DAWI INV ESTMENT TRUST l PVTt LTD | 204, 539 | 7.445 | |
4 OR A.N.O. £.S. JAYARATNE | 18, S70 | 0. 68Z | |
$ EST.OF LAT K.C. vIGNARAJAH | 14,730 | 0. 54F | |
6 DFCC BANK PLC/MR. P.PRANAVAN | 11.111 | 0.40# | |
7 COCOSHELL ACTIVATED CAR8ON COYPAIJY ‹PVT› LTD | 10.875 | 0.40# | |
8 9E0PLE S LEASING AND FINANCE PLC/U. L.B.ARIYARATNA | 10,000 | 0. 36T | |
9 MR. U. l. 5URI YABANDARA | 9,4S1 | 0.34 | |
10 MR. L.H.S. PEIRIS | 9, 261 | 0.34& | |
J J MR. G.W. RATUNGA tDECEASED) | 8.67 7 | 0.3 Z | |
T2 OR E.D.K. WEERASFJRIYA 0 MR s. WEERAS URIYA | 8,169 | 0.30"< | |
13 ASSETLINE FINANCE LIMITED/ LS. GURUSINGH | 7,494 | 0.2T | |
14 MR. R.J.S. JAYWANA | 7,000 | 0.25# | |
15 OR. Z.G. CAR iMJEE | 6.867 | 0.25& | |
J6 MRS. D.R. COSTA | 6.721 | 0.24S | |
17 5tR. A.J. RUvy | 6,<00 | 0.23& | |
8 / RS. M.M. UDCSH | 6,0IJ0 | 0.22R' | |
19 MR. N.K. FLEMING | 5,000 | 0.J8& | |
20 DR. S. YADDEHIGE | 4,798 | 0. IW | |
ZJ OR U.C. BANDARANAYAKE 6 MRS L. BANDARANAYAKE LAN.I ALI | 4,023 | 0.15 | |
Z2 DAWI INYESTYENT TRUST TPVT} LTD | 3,963 | 0.14S | |
23 PEOPLE'S LEASING 6 FINANCE PLC/MR. IRESH SRIDAS GURUSINGHE | 3,888 | 0.14B | |
24 MR. S.K. HATHiRA/YENI (DECEASED l | 3,850 | 0.14& | |
25 OR. v.S.P. WICKRAMESOORI YA MISS S.E. WICB CSOORIYA | 3,826 | 0.14 | |
Sub total | 2,545,81Z | 92.SP | |
Others | Z04.t86 | 7.43S | |
Issued Capital | 2,750.000 | 100.00% |
Director's holding of shares as ac 3Qh June 2025
Mr. R.S.A. Wickr cmas'ngha Chairm an
Nil
Mr. ¥. C. Dahana yake - Managing Direc tor
W. D. S. Wickr amaskngha - Direc tor
MS. N.K.WIekr amasingha - Dir ec tor
NiI
NJI
Mr. L.J.M. 0e 5itva - DJrec toI
Nil
Isle. S. T. Ratwa me - Dir ec for
Mr. I. 5. Fonse ka - Direcror
Mr. M. E. Wiekr einesinghe D rect or
Public shareholding percentage as at 30th June 2025 was 28.62a and compnsed oF 1,756 Shareholders.
The Float adj usted marxet capitalization of the company as at 30th June 20zfi was Rs. J ,074.876, 662. 25
Tfje Float adjusted market cap)talJzatJon of the company falls under Option 5 of Rule 7.13.1 (I) {a) of the LlstTng rules of the Colombo Stock Exchange and the company has complied with the minimum publir holding requirement applicable under said option.
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