Unaudited Financial Statements
For the nine months ended 31 December 2024
The information contained in these statements have been extracted from the unaudited financial statements of the Company unless indicated as audited.
Domicile & Legal Form
Principal Activity & Nature of the Company
Company Reg. No.
Board of Directors
Secretaries
Registrars
Auditors
Bankers
Factory & Office
Registered Office
CORPORATE INFORMATION
Dankotuwa Porcelain PLC is a Public Quoted Company with limited liability, incorporated under provisions of the Companies Act No. 17 of 1982 (Registered as a Private Limited Company in Sri Lanka on 06 January 1984 and converted to a Public Company by a special resolution on 08 July 1994). Re-registered under the Companies Act No. 07 of 2007.
Quoted on the Colombo Stock Exchange on the 21 February 1995.
Manufacturing and Marketing of Porcelain Tableware, Targeted to Export and Domestic Markets
PQ 79 | ||
Mr. R P Pathirana | - | Chairman |
Mr. C S Karunasena | - | Director |
Mr.R S Egodage | - | Director |
Ms.S N Egodage | - | Director |
Ms.L Rajendran | - | Director |
Dr.L H K Perera | - | Director |
Mr.V Aslibekyan | - | Director |
Mr.P.D.C.N Gunawardana | - | Director |
Mr.C Gamage | - | Director |
Mr.S.L Sebastian | - | Director |
Mr.R.T Devasurendra | - | Director |
NEXIA CORPORATE CONSULTANTS (PRIVATE) LIMITED
No. 130, Second Floor, Nawala Road, Narahenpita, Colombo 05.
S S P CORPORATE SERVICES (PRIVATE) LIMITED 101, Inner Flower Road, Colombo 3
ERNST & YOUNG
Chartered Accountants, Rotunda Tower,No 109,Galle Road,Colombo 03
Bank of Ceylon
Cargills Bank Sri Lanka
Commercial Bank of Ceylon PLC
Hattion National BanK PLC
National Development Bank PLC
Nations Trust Bank PLC
Pan Asia Banking Corporation PLC
People's Bank PLC
Sampath Bank PLC
Seylan Bank PLC
Standared Chartered Bank
Kurunegala Road
Dankotuwa, Sri Lanka
Telephone - '+94 31 5500500
Fax - '+94 31 5500599
Email:info@dankotuwa.com
Website:www.dankotuwa.com
No. 1, Alfred House Avenue, Colombo 03, Sri Lanka.
Telephone - '+94 31 5500500
Fax - '+94 31 5500599
Email:info@dankotuwa.com
Website:www.dankotuwa.com
1
Subsidiaries
Showrooms
EXPORT MARKETS
CORPORATE INFORMATION
Royal Fernwood Porcelain Limited
Lanka Decals (Private) Limited
Fernwood Lanka (Private) Limited
Dankotuwa Singapore Pte Ltd
Kirulapone
194, High Level Road (Opposite Siebel Avenue)
Colombo 6, Sri Lanka
Tel: +94-11-5665000
Cinnamon Garden
47, Guildford Crescent
Colombo 7, Sri Lanka
Tel: +94-11-5305555
Negombo
No. 389 C, Main Street
Negombo
Tel: +94-31-5205205
Shangri-La Shopping Mall
1 Galle Face
L3-51
Colombo 03
Tel:+94-11-5666222
Factory Showroom
Kurunegala Road
Dankotuwa, Sri Lanka
Tel: +94-31-5500545
Australia,Canada, Fiji,Greece, Germany, India, Italy, Japan, Kenya, Kuwait, Maldives, Moldova, Norway, Oman, Singapore, South Africa, Spain, Sweden, UK, USA, Uzbekistan and UAE.
2
DANKOTUWA PORCELAIN PLC
STATEMENT OF PROFIT OR LOSS
GROUP
COMPANY
For the Period Ended 31st December,
Revenue
Cost of Sales
Gross Profit
Other Income
Selling and Distribution Expenses
Administrative Expenses
Net Finance (Cost) / Income
Profit /(Loss) Before Tax
Income /Deferred Tax ( Expense)/ Reversal
Profit/(Loss) for the period
2024
Un-Audited
LKR '000
2,824,564
(2,201,764)
622,800
4,416
(583,252)
(559,108)
(155,894)
(671,038)
217,700
(453,338)
2023
Un-Audited
LKR'000
4,771,844
(3,112,606)
1,659,238
11,538
(534,403)
(445,527)
(128,273)
562,573
(207,166)
355,407
% Change
-41%
-29%
-62%
-62%
9%
25%
22%
-219%
-205%
-228%
2024
Un-Audited
LKR'000
1,462,692
(1,117,778)
344,914
5,036
(431,716)
(332,057)
(49,082)
(462,905)
163,896
(299,009)
2023 % Change
Un-Audited
LKR'000
2,921,812-50%
(1,669,353)-33%
1,252,459-72%
8,339-40%
(358,610)20%
(273,507)21%
(7,813)528%
620,868-175%
(229,348) -171%
391,520-176%
Profit Attributable to: Equity Holders of the Company Non - Controlling Interests
Earnings/(Loss) per share Basic
(452,721) | 356,885 |
- (1,478)
(453,338) 355,407
(2.79) | 2.20 |
-227% 58% -228%
-227%
-
(1.84) | 2.41 | -176% |
The Notes on pages 10 to 11 form an integral part of these Financial Statements. Figures in bracket indicate deductions
3
DANKOTUWA PORCELAIN PLC STATEMENT OF PROFIT OR LOSS
For the Quarter Ended 31st December
Revenue
Cost of Sales
Gross Profit
Other Income
Selling and Distribution Expenses
Administrative Expenses
Net Finance (Cost) / Income
Profit /(Loss) Before Tax
Income /Deferred Tax ( Expense)/ Reversal
Profit/(Loss) for the period
Profit Attributable to:
Equity Holders of the Company
Non - Controlling Interests
Earnings/(Loss) per share
Basic
GROUP | ||
2024 | 2023 | % Change |
Un-Audited | Un-Audited | |
LKR'000 | LKR'000 | |
944,006 | 1,820,440 | -48% |
(738,120) | (1,089,639) | -32% |
205,886 | 730,801 | -72% |
3,484 | 7,400 | -53% |
(185,901) | (192,708) | -4% |
(214,414) | (149,917) | 43% |
(51,097) | (34,005) | 50% |
(242,042) | 361,571 | -167% |
70,712 | (131,817) | -154% |
(171,330) | 229,754 | -175% |
(174,202) | 228,478 | -176% |
2,872 | 1,276 | -125% |
(171,330) | 229,754 | -175% |
(1.07) | 1.41 | -176% |
COMPANY | |||
2024 | 2023 | % Change | |
Un-Audited | Un-Audited | ||
LKR'000 | LKR'000 | ||
478,560 | 1,137,052 | -58% | |
(358,747) | (607,423) | -41% | |
119,813 | 529,629 | -77% | |
1,756 | 5,070 | -65% | |
(128,941) | (128,266) | 1% | |
(107,232) | (79,871) | 34% | |
(22,616) | 4,268 | -630% | |
(137,220) | 330,830 | -141% | |
39,264 | (128,860) | -130% | |
(97,956) | 201,970 | -149% | |
-
(0.60) | 1.24 | -149% |
The Notes on pages 10 to 11 form an integral part of these Financial Statements. Figures in bracket indicate deductions
4
DANKOTUWA PORCELAIN PLC
STATEMENT OF OTHER COMPREHENSIVE INCOME
GROUP
COMPANY
For the Period Ended 31st December,
Profit/ (Loss) for the Period
Other Comprehensive Income
Other Comprehensive Income to be Reclassified to Profit or Loss in Subsequent Year
Effect of Cashflow Hedges
Tax impact of Cashflow Hedges
Translation of Foreign Operations
Net Other Comprehensive Income to be Reclassified to Profit or Loss in subsequent periods
Other Comprehensive Income not to be Reclassified to Profit or Loss in subsequent periods
Actuarial Loss
Tax impact on Acturial Loss
Revaluation of Land and Building
Tax impact on Revaluation Gain
Net Other Comprehensive Income not to be Reclassified to Profit or Loss in Subsequent Year
Other Comprehensive Income for the year -Net of Tax
2024
Un-Audited
LKR'000
(453,338)
-
-
-
-
-
-
-
-
-
-
2023
Un-Audited
LKR'000
355,407
-
-
-
-
-
-
-
-
-
-
2024
Un-Audited
LKR'000
(299,009)
-
-
-
-
-
-
-
-
-
-
2023
Un-Audited
LKR'000
391,520
-
-
-
-
-
-
-
-
-
-
Total Comprehensive Income for the Period
Total Comprehensive Income Attributable to:
Equity Holders of the Company
Non - Controlling Interests
(453,338)
(452,721)
(617)
(453,338)
355,407
356,884
(1,477)
355,407
(299,009) | 391,520 | |
5
DANKOTUWA PORCELAIN PLC
STATEMENT OF OTHER COMPREHENSIVE INCOME
GROUP
COMPANY
For the Quarter Ended 31st December
Profit/ (Loss) for the Period
Other Comprehensive Income
Other Comprehensive Income to be Reclassified to Profit or Loss in Subsequent Year
Effect of Cashflow Hedges
Tax impact of Cashflow Hedges
Translation of Foreign Operations
Net Other Comprehensive Income to be Reclassified to Profit or Loss in Subsequent Year
Other Comprehensive Income not to be Reclassified to Profit or Loss in Subsequent Year
Actuarial Loss
Tax impact on Acturial Loss
Revaluation of Land and Building
Tax impact on Revaluation Gain
Net Other Comprehensive Income not to be Reclassified to Profit or Loss in Subsequent Year
Other Comprehensive Income for the year -Net of Tax
Total Comprehensive Income for the Period
Total Comprehensive Income Attributable to:
Equity Holders of the Company
Non - Controlling Interests
2024
Un-Audited
LKR'000
(171,330)
-
-
-
-
-
-
-
-
-
-
(171,330)
(174,202)
2,872
(171,330)
2023
Un-Audited
LKR'000
229,754
-
-
-
-
-
-
-
-
-
-
229,754
228,478
1,276
229,754
2024
Un-Audited
LKR'000
(97,956)
-
-
-
-
-
-
-
-
-
-
(97,956)
2023
Un-Audited
LKR'000
201,970
-
-
-
-
-
-
-
-
-
-
201,970
6
DANKOTUWA PORCELAIN PLC
STATEMENT OF FINANCIAL POSITION
GROUP
COMPANY
As at,
ASSETS
Non-Current Assets
Property, Plant & Equipment
Right to Use Asset
Investment Property
Intangible Assets
Investment in Subsidiaries
Current Assets
Inventories
Trade & Other Receivables
Related Party Loan Receivable
Income Tax Receivable
Cash & Cash Equivalents
Total Assets
EQUITY AND LIABILITIES
Equity
Stated Capital
Other Components of Equity
Retained Earnings
Equity Attributable to Equity Holders of the Company
Non Controlling Interests
Total Equity
Non-Current Liabilities
Interest Bearing Loans and Borrowings
Lease Liability
Retirement Benefit Liability
Deferred Tax Liability
Current Liabilities
Interest Bearing Loans and Borrowings
Lease Liability
Trade and Other Payables
Income Tax Liabilities
Total Equity and Liabilities
31-Dec-24 Un-Audited LKR'000
2,309,856
38,411
769,946
71,519
-
3,189,732
2,203,510
1,560,694
-
972
597,697
4,362,873
7,552,605
1,402,102
1,605,157
230,839
3,238,098
16,456
3,254,554
156,114
19,154
263,771
343,435
782,474
2,508,213
17,919
989,445
-
3,515,577
7,552,605
31-Mar-24 Audited LKR'000
2,380,763
53,579
769,946
56,538
-
3,260,826
1,808,038
2,340,194
-
-
499,443
4,647,675
7,908,500
1,402,102
1,605,157
683,560
3,690,819
17,073
3,707,892
308,980
30,823
241,426
543,811
1,125,040
2,100,536
15,397
777,325
182,310
3,075,568
7,908,500
31-Dec-24 Un-Audited LKR'000
1,479,924
38,411
629,700
21,900
1,204,247
3,374,182
1,132,247
1,101,718
139,684
972
528,721
2,903,342
6,277,524
1,402,102
1,174,598
1,158,720
3,735,420
-
3,735,420
29,114
19,154
217,133
397,604
663,005
1,427,381
17,919
433,799
-
1,879,099
6,277,524
31-Mar-24
Audited
LKR'000
1,512,342
53,579
629,700
25,175
1,184,923
3,405,719
929,071
1,607,124
70,485
-
476,364
3,083,043
6,488,762
1,402,102
1,174,598
1,457,729
4,034,429
-
4,034,429
54,480
30,824
196,779
544,174
826,257
1,011,231
15,397
419,139
182,310
1,628,077
6,488,762
Net Assets Per Share (LKR)
19.9222.71
22.9824.82
The Notes on pages 10 to 11 form an integral part of these Financial Statements.
Figures in brackets indicate deductions
I certify that the Financial Statements have been prepared in compliance with the requirements of Companies Act No. 07 of 2007.
Sgd.
Saroj Ranathunga
Chief Financial Officer-Cluster
The Directors are responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board.
Sgd. | Sgd. |
R P Pathirana | C S Karunasena |
Chairman | Director |
10 February 2025 | |
Colombo |
7
DANKOTUWA PORCELAIN PLC
STATEMENT OF CHANGES IN EQUITY
Attributable to Equity Holders of the Company | ||||||
Foreign | Non Controlling | |||||
Stated | Revaluation | Currency | Retained | |||
GROUP | Total | Interests | ||||
Capital | Reserve | Translation | Earnings | |||
Reserve | ||||||
LKR'000 | LKR'000 | LKR'000 | LKR'000 | LKR'000 | LKR'000 | |
Balance as at 31 March 2023- Audited | 1,402,102 | 1,500,874 | (1,072) | 336,205 | 3,238,109 | 17,447 |
Total Equity
LKR'000
3,255,556
Profit / (Loss) for the period | - | - | - | 371,122 | 371,122 | (3,175) | 367,947 |
Other Comprehensive Income | - | 107,110 | (1,755) | (23,767) | 81,588 | 2,801 | 84,389 |
Total Comprehensive Income for the Period | - | 107,110 | (1,755) | 347,355 | 452,710 | (374) | 452,336 |
Balance as at 31 March 2024-Audited | 1,402,102 | 1,607,984 | (2,827) | 683,560 | 3,690,819 | 17,073 | 3,707,892 |
Profit / (Loss) for the period | - | - | - | (452,721) | (452,721) | (617) |
Other Comprehensive Income | - | - | - | - | - | - |
Total Comprehensive Income for the Period | - | - | - | (452,721) | (452,721) | (617) |
Balance as at 31 December 2024 | 1,402,102 | 1,607,984 | (2,827) | 230,839 | 3,238,098 | 16,456 |
(453,338)
-
(453,338)
3,254,554
COMPANY | Revaluation | Foreign Currency | Amalgamation | Retained | |
Stated Capital | Translation | ||||
Reserve | Reserve | Earnings | |||
Reserve | |||||
LKR'000 | LKR'000 | LKR'000 | LKR'000 | LKR'000 | |
Balance as at 31 March 2023- Audited | 1,402,102 | 1,262,238 | (1,072) | (123,362) | 1,033,777 |
Total Equity
LKR'000
3,573,683
Profit / (Loss) for the period | - | - | - | - | 441,345 | 441,345 |
Other Comprehensive Income | - | 38,549 | (1,755) | - | (17,393) | 19,401 |
Total Comprehensive Income for the Period | - | 38,549 | (1,755) | - | 423,952 | 460,746 |
Balance as at 31 March 2024-Audited | 1,402,102 | 1,300,787 | (2,827) | (123,362) | 1,457,729 | 4,034,429 |
Profit / (Loss) for the period | - | - | - | - | (299,009) |
Other Comprehensive Income | - | - | - | - | - |
Total Comprehensive Income for the Period | - | - | - | - | (299,009) |
(299,009)
-
(299,009)
Balance as at 31 December 2024 | 1,402,102 | 1,300,787 | (2,827) | (123,362) | 1,158,720 |
3,735,420
8
DANKOTUWA PORCELAIN PLC CASH FLOW STATEMENT
GROUP
COMPANY
For the period Ended 31st December
Profit before Taxation
Adjustment for
Depreciation
Amortization of Right to Use Assets
Amortization of Intangible Assets
Provision for Retirement Gratuity
Net Finance Cost / (Income)
Provision / (Reversal) of Provision for Inventories
Impairment of Trade and Other Receivables
Unrealized Foreign Exchage Difference
Operating Profit before Working Capital Changes
(Increase)/Decrease in Inventories
(Increase)/Decrease in Trade & Other Receivables
Increase/(Decrease) in Trade & Other Payable
Cash Generated from Operations
Interest Paid
Income Tax Paid
Retiring Gratuity Paid
Net Cash Flow from Operating Activities
Cash Flow from Investing Activities
Investment in Subsidary
Acquisition of Property, Plant & Equipment
Acquisition of Intangible Assets
Interest Income Received
Net Cash Flow Used in Investing Activities
Cash Flow from Financing Activities
Proceeds from Interest Bearing Loans & Borrowings, net of payments Loan given to Subsidiary
Repayment of Finance Lease
Net Cash Flow from Financing Activities
Net Increase/Decrease in Cash & Cash Equivalent during the period Cash & Cash Equivalents
Net movement during the period
At the beginning of the period
At the end of the year (Note A)
Note A-Cash and Equivalents are as follows
2024
Un-Audited
LKR'000
(671,038)
92,678
14,591
6,957
37,685
197,785
95,391
91,392
-
(134,559)
(490,863)
585,030
208,066
167,674
(234,570)
(162,560)
(15,340)
(244,796)
(19,323)
(21,771)
(2,614)
817
(42,891)
242,734
(13,767)
228,967
(58,720)
(58,720)
(263,557)
(322,277)
2023
Un-Audited
LKR'000
562,573
92,633
13,144
6,322
31,388
186,004
5,590
5,138
(20,883)
881,908
(176,369)
(928,461)
(67,891)
(290,812)
(251,228)
(114,128)
(7,404)
(663,572)
-
(22,926)
-
352
(22,574)
461,712
-
(11,038)
450,674
(235,472)
(235,472)
99,491
(135,981)
2024 2023 Un-Audited Un-Audited
LKR'000 LKR'000
(462,905) | 620,868 |
48,172 | 46,907 |
14,591 | 13,144 |
5,889 | 5,255 |
32,859 | 27,000 |
64,775 | 47,425 |
56,181 | 9,344 |
76,466 | 3,998 |
- (20,883)
(163,972) 753,058
(259,357) (181,847)
413,336 (581,751)
71,687 (88,020)
61,694 (98,560)
(101,249) (112,491)
(162,560) (114,128)
(12,505) (3,936)
(214,620) (329,115)
(19,323) | - |
(15,753) | (19,137) |
(2,614) | - |
506193
(37,184) (18,944)
343,776 | 228,150 | |
(69,199) | (2,000) | |
(13,767) | (11,038) | |
260,810 | 215,112 | |
9,006 | (132,947) | |
9,006 | (132,947) | |
(100,329) | 190,905 | |
(91,323) | 57,958 |
Cash in Hand & Bank Bank & Other Borrowings
597,698 | 523,109 | 528,721 | 513,873 | |||
(919,975) | (659,090) | (620,044) | (455,915) | |||
(322,277) | (135,981) | (91,323) | 57,958 | |||
9
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