HARISCHANDRA MILLS PLC |
INTERIM FINANCIAL STATEMENTS |
For the quarter ended 30 June 2025 |
Registration No. |
PQ 225 |
Board of Directors |
Bandaranayake T.K. (Chairman) |
Samarasinghe S.N. (Managing Director) |
De Silva G.S.V. |
De Silva M.P. (Mrs.) |
Jayasundara S. A S. |
Samarasinghe R.K (Mrs.) |
Kobbekaduwa R. (Mrs.) |
Sudath Kumar G.K |
L.L.S.Wickremasinghe |
Date of incorporation |
9th January 1953 |
Registered office |
No. 11, C.A.Harischandra Mawatha, Matara. |
Secretaries |
Corporate Services (Pvt) Limited. |
216, De Saram Place, |
Colombo 10 |
Remuneration Committee |
Sudath Kumar G.K (Chairman) |
Bandaranayake T.K. |
Kobbekaduwa R. (Mrs.) |
Auditors |
KPMG |
(Chartered Accountants) |
32A, Sir Mohamed Macan Markar Mawatha, |
Colombo 3. |
Internal auditors |
Ernst & Young |
(Chartered Accountants) |
201, De Saram Place, |
Colombo 10 |
Audit & Risk Management Committee |
L.L.S.Wickremasinghe(Chairman) |
Sudath Kumar G.K |
Bandaranayake T.K. |
Kobbekaduwa R. (Mrs.) |
Related Party Transactions Review |
Committee |
L.L.S.Wickremasinghe(Chairman) |
Sudath Kumar G.K |
Bandaranayake T.K. |
Kobbekaduwa R. (Mrs.) |
Samarasinghe S.N. |
Legal advisors |
F J & G De Saram |
Attorneys - at - Law |
216, De Saram Place, |
Colombo 10 |
Nomination and Governance Committee |
Sudath Kumar G.K (Chairman) |
Bandaranayake T.K. |
Kobbekaduwa R. (Mrs.) |
Legal form |
A Public Company with Limited Liability |
incorporated in Sri Lanka, whose shares |
are Listed in the Colombo Stock Exchange. |
Subsidiary company |
Harischandra Mills (Distributors) Limited |
(wholly owned) incorporated in Sri Lanka |
HARISCHANDRA MILLS PLC INTERIM FINANCIAL STATEMENTS
Group | |||
For the year | |||
ended 31st | |||
March | |||
2025 | 2024 | VARIANCE | 2025 |
Rs. '000 | Rs. '000 | % | Rs. '000 |
1,466,635 | 1,478,824 | (1) | 6,321,658 |
(1,210,028) | (1,216,363) | (1) | (5,075,709) |
256,607 | 262,461 | (2) | 1,245,949 |
7,159 | 6,100 | 17 | 26,521 |
263,766 | 268,561 | (2) | 1,272,470 |
(128,589) | (132,507) | (3) | (442,406) |
(91,999) | (104,530) | (12) | (512,686) |
43,178 | 31,524 | 37 | 317,378 |
11,550 | 12,810 | (10) | 43,476 |
(1,489) | (2,650) | (44) | (10,654) |
10,061 | 10,160 | (1) | 32,822 |
53,239 | 41,684 | 28 | 350,200 |
(15,972) | (12,168) | 31 | (97,136) |
37,267 | 29,516 | 26 | 253,064 |
Rs. | Rs. | Rs. | |
19.41 | 15.38 | 131.83 |
For the quarter ended 30 June 2025
INCOME STATEMENT | Company | |||||
For the year ended 31st March | ||||||
Quarter ended 30 June | 2025 | 2024 | VARIANCE | 2025 | ||
Rs. '000 | Rs. '000 | % | Rs. '000 | |||
Revenue | 1,466,635 | 1,478,824 | (1) | 6,321,658 | ||
Cost of sales | (1,210,028) | (1,216,363) | (1) | (5,075,709) | ||
Gross profit | 256,607 | 262,461 | (2) | 1,245,949 | ||
Other income | 7,159 | 6,100 | 17 | 26,521 | ||
263,766 | 268,561 | (2) | 1,272,470 | |||
Administrative expenses | (128,589) | (132,507) | (3) | (442,406) | ||
Selling & distribution expenses | (91,999) | (104,530) | (12) | (510,119) | ||
Result from operating activities | 43,178 | 31,524 | 37 | 319,945 | ||
Finance income | 11,550 | 12,810 | (10) | 43,476 | ||
Finance expenses | (1,489) | (2,650) | (44) | (10,654) | ||
Net finance income/(expenses) | 10,061 | 10,160 | (1) | 32,822 | ||
Profit from ordinary activities before tax | 53,239 | 41,684 | 28 | 352,767 | ||
Income tax expenses | (15,972) | (12,168) | 31 | (97,136) | ||
Profit after taxation attributable to shareholders of Harischandra Mills PLC | 37,267 | 29,516 | 26 | 255,631 | ||
Rs. | Rs. | Rs. | ||||
Basic Earnings per Share | 19.41 | 15.38 | 133.17 | |||
Notes : | ||||||
The above figures are provisional and subject to audit. | ||||||
Figures in brackets indicate deductions. | ||||||
All values are in Rs.'000, unless otherwise stated. | ||||||
HARISCHANDRA MILLS PLC INTERIM FINANCIAL STATEMENTS
Group | Company | |||||
For the year | For the year | |||||
ended 31st | ended 31st | |||||
March | March | |||||
2025 | 2024 VARIANCE | 2025 | 2025 | 2024 VARIANCE | 2025 | |
Rs. '000 | Rs. '000 % | Rs. '000 | Rs. '000 | Rs. '000 % | Rs. '000 | |
37,267 | 29,516 26 | 253,064 | 37,267 | 29,516 26 | 255,631 | |
- | - - | -17,367 | - | - - | (17,367) | |
- | - - | 5,210 | - | - - | 5,210 | |
- | - - | (12,157) | - | - | (12,157) | |
37,267 | 29,516 26 | 240,907 | 37,267 | 29,516 26 | 243,474 | |
For the quarter ended 30 June 2025
STATEMENT OF COMPREHENSIVE INCOME
For the quarter ended 30 June Profit for the period
Other comprehensive income will not be reclassified to income
statement in subsequent periods
Re- measurement of employee benefit obligation Related Tax
Other comprehensive income for the period Total comprehensive income for the period
Notes :
The above figures are provisional and subject to audit. Figures in brackets indicate deductions.
All values are in Rs.'000, unless otherwise stated.
`
HARISCHANDRA MILLS PLC INTERIM FINANCIAL STATEMENTS
For the quarter ended 30 June 2025
As at 30.06.2025 Rs. '000 | GROUP As at 30.06.2024 Rs. '000 | As at 31.03.2025 Rs. '000 |
946,364 | 878,928 | 895,805 |
1,334 | 746 | 1,449 |
1,236 | 16,072 | 4,945 |
3,211 | - | 3,211 |
952,145 | 895,746 | 905,410 |
527,700 | 513,337 | 474,958 |
548,102 | 700,460 | 618,395 |
32,830 | 42,272 | 142,430 |
609,327 | 490,469 | 487,611 |
44,152 | 19,190 | 131,348 |
1,762,111 | 1,765,728 | 1,854,742 |
2,714,256 | 2,661,474 | 2,760,152 |
105,578 | 105,578 | 105,578 |
7,011 | 7,011 | 7,011 |
12,841 | 12,841 | 12,841 |
1,662,493 | 1,566,767 | 1,702,010 |
1,787,923 | 1,692,197 | 1,827,440 |
215,924 | 209,065 | 206,381 |
215,924 | 209,065 | 206,381 |
616,327 | 614,538 | 569,619 |
30,211 | 12,865 | 60,598 |
63,871 | 132,809 | 96,114 |
710,409 | 760,212 | 726,331 |
926,333 | 969,277 | 932,712 |
2,714,256 | 2,661,474 | 2,760,152 |
Rs. | Rs. | Rs. |
931.40 | 881.54 | 951.99 |
As at 30.06.2025 Rs. '000 | COMPANY As at 30.06.2024 Rs. '000 | As at 31.03.2025 Rs. '000 |
946,364 | 878,928 | 895,805 |
1,334 | 746 | 1,449 |
1,236 | 16,072 | 4,945 |
3,211 | - | 3,211 |
952,145 | 895,746 | 905,410 |
527,700 | 513,337 | 474,958 |
548,102 | 700,460 | 618,395 |
32,830 | 42,272 | 142,430 |
609,327 | 490,469 | 487,611 |
44,108 | 19,146 | 131,303 |
1,762,067 | 1,765,684 | 1,854,697 |
2,714,212 | 2,661,430 | 2,760,107 |
105,578 | 105,578 | 105,578 |
11 | 11 | 11 |
12,841 | 12,841 | 12,841 |
1,669,748 | 1,571,455 | 1,709,265 |
1,788,178 | 1,689,885 | 1,827,695 |
215,924 | 209,065 | 206,381 |
215,924 | 209,065 | 206,381 |
616,028 | 614,223 | 569,319 |
30,211 | 15,448 | 60,598 |
63,871 | 132,809 | 96,114 |
710,110 | 762,480 | 726,031 |
926,034 | 971,545 | 932,412 |
2,714,212 | 2,661,430 | 2,760,107 |
Rs. | Rs. | Rs. |
931.54 | 880.33 | 952.12 |
STATEMENT OF FINANCIAL POSITION
ASSETS
Non-current assets Property, plant & equipment Intangible assets
Right of use asset Diferred tax asset
Total non-current assets
Current assets
Inventories
Trade and other receivables Investment in unit trusts Investment in fixed deposits Cash & bank balances Total current assets
Total assets
EQUITY & LIABILITIES
Equity
Stated capital
Other capital reserves General Reserve Retained earnings
Total equity attributable to equity holders of the company
Non Current Liabilities
Deferred liabilities
Total non current liabilities
Current Liabilities
Trade and other payables Provision for taxation Bank overdraft
Total current liabilities Total liabilities
Total equity & liabilities
Net Assets Value Per Share Notes:
The above figures are provisional and subject to audit. All values are in Rs.'000, unless otherwise stated.
I certify that these Financial Statements comply with the requirements of the Companies Act No.07 of 2007.
……………S…gd….………………..
C.T. Gajanayake - Chief Financial Officer Signed for and on behalf of the Board,
…………S…gd….………………… ……………S…g…d.…………….
S.N.Samarasinghe G.S.V.De Silva
Managing Director Director
07 August 2025 4
HARISCHANDRA MILLS PLC | ||||||||||
INTERIM FINANCIAL STATEMENTS | ||||||||||
For the quarter ended 30 June 2025 | ||||||||||
STATEMENTS OF CHANGES IN EQUITY | ||||||||||
2025 | 2024 | |||||||||
Stated Capital | Other Capital Reserves | General Reserve | Retained Earnings | Total Equity | Stated Capital | Other Capital Reserves | General Reserve | Retained Earnings | Total Equity | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Group | ||||||||||
Balance as at 01 April | 105,578 | 7,011 | 12,841 | 1,702,010 | 1,827,440 | 105,578 | 7,011 | 12,841 | 1,614,035 | 1,739,465 |
Retained profit for the three months | - | - | - | 37,267 | 37,267 | - | - | - | 29,516 | 29,516 |
Interim Dividend | - | - | - | (76,784) | (76,784) | - | - | - | (76,784) | (76,784) |
Balance as at 30 June | 105,578 | 7,011 | 12,841 | 1,662,493 | 1,787,923 | 105,578 | 7,011 | 12,841 | 1,566,767 | 1,692,197 |
Company |
Balance as at 01 April |
Retained profit for the three months |
Interim Dividend |
Balance as at 30 June |
105,578 | 11 | 12,841 | 1,709,265 | 1,827,695 | 105,578 | 11 | 12,841 | 1,618,723 | 1,737,153 |
- | - | - | 37,267 | 37,267 | - | - | - | 29,516 | 29,516 |
- | - | - | (76,784) | (76,784) | - | - | - | (76,784) | (76,784) |
105,578 | 11 | 12,841 | 1,669,748 | 1,788,178 | 105,578 | 11 | 12,841 | 1,571,455 | 1,689,885 |
Notes :
Figures in brackets indicate deductions. |
All values are in Rs.'000, unless otherwise stated. |
HARISCHANDRA MILLS PLC |
INTERIM FINANCIAL STATEMENTS |
For the quarter ended 30 June 2025 |
For the three months ended 30 June
2025 Group Company2024 |
Rs. '000 |
2024 |
Rs. '000 |
Cash flows from operating activities |
Net profit before taxation |
Adjustment for |
Provision for gratuity (net of payment) |
Depreciation & amortization |
Change in fair value of unit trusts |
Net interest (income)/expenses |
53,239 41,684 53,239 41,684
9,543 |
23,043 |
109,600 |
(10,061) |
6,420 |
25,700 |
28,178 |
(10,160) |
9,543 |
23,043 |
109,600 |
(10,061) |
6,420 |
25,700 |
28,178 |
(10,160) |
Operating profit before working capital changes |
Change in working capital |
Change in inventories |
Change in receivables |
Change in payables |
Cash generated from operations |
Income tax paid |
Net cash flows from operating activities |
185,364 91,822 185,364 91,822
(52,742) |
70,293 |
46,710 |
249,625 |
(46,359) |
203,266 |
767 |
(2,281) |
(16,447) |
73,861 |
(9,632) |
64,229 |
(52,742) |
70,293 |
46,710 |
249,625 |
(46,359) |
203,266 |
767 |
(2,281) |
(16,446) |
73,862 |
(9,632) |
64,230 |
Cash flows/( used in )investing activities |
Interest received (net) |
Acquisition of property, plant & equipment |
Net cash flows from investing activities |
10,061 |
(69,779) |
(59,718) |
10,160 |
(31,288) |
(21,128) |
10,061 |
(69,779) |
(59,718) |
10,160 |
(31,288) |
(21,128) |
Cash flows used in financing activities |
Interim Dividend Paid |
Net cash flow used in financing activities |
(76,784) |
(76,784) |
(76,784) |
(76,784) |
(76,784) |
(76,784) |
(76,784) |
(76,784) |
Net increase/(decrease) in cash & cash equivalents |
Cash & cash equivalents at the beginning |
Cash & cash equivalent at the end |
66,764 |
522,844 |
589,608 |
(33,683) |
410,533 |
376,850 |
66,764 |
522,800 |
589,564 |
(33,682) |
410,488 |
376,806 |
Analysis of cash & cash equivalents |
Cash in hand |
Short term deposits |
Bank overdrafts |
44,152 |
609,327 |
-63,871 |
589,608 |
19,190 |
490,469 |
-132,809 |
376,850 |
44,108 |
609,327 |
-63,871 |
589,564 |
19,146 |
490,469 |
-132,809 |
376,806 |
Notes : |
The above figures are provisional and subject to audit. |
Figures in brackets indicate deductions. |
All values are in Rs.'000, unless otherwise stated. |
HARISCHANDRA MILLS PLC |
INTERIM FINANCIAL STATEMENTS |
For the quarter ended 30 June 2025 |
1,043,793 | 1,039,333 |
167,960 | 165,680 |
254,882 | 273,811 |
1,466,635 | 1,478,824 |
Fuel & Lubricants | |
2025 | 2024 |
254,882 | 273,811 |
(285) | 819 |
1,043,793 |
167,960 |
254,882 |
1,466,635 |
1,039,333 |
165,680 |
273,811 |
1,478,824 |
7. | Segments information |
For the Quarter ended 30 June | |
Consolidated turnover | |
Segmental operating profit/(loss) | |
Other operating income | |
Net finance income | |
Profit before taxation | |
Income tax expenses | |
Profit after taxation |
Food products | |
2025 | 2024 |
1,043,793 | 1,039,333 |
35,910 | 4,303 |
Soap | |
2025 | 2024 |
167,960 | 165,680 |
392 | 20,302 |
Total | |
2025 | 2024 |
1,466,635 | 1,478,824 |
36,017 | 25,424 |
7,159 | 6,100 |
10,061 | 10,160 |
53,239 | 41,684 |
(15,972) | (12,168) |
37,267 | 29,516 |
Notes to the interim financial statements
EXPLANATORY NOTES: | |
1. | Basis of preparation |
The Interim financial statements have been prepared in compliance with Sri Lanka Accounting Standard - LKAS 34- Interim Financial Reporting. These Interim condensed Financial Statements do not include all the information and disclosures required in the Financial Statements and should be read in conjunction with the annual financial statements for the year ended 31 March 2025. | |
2. | The presentation and classification of figures for the corresponding period of the previous year have been rearranged, where relevant, to be comparable with those for the current period. |
3. | There have been no events subsequent to the Balance Sheet date, which require disclosures in the Interim Financial Statements. |
4. | The Company did not have any Contingent Liabilities outstanding and contingent assets as at the Balance Sheet date. |
5. | Interim dividend of Rs. 40.00 per share was paid on 11 June 2025 for the financial year ended 31 March 2025 |
Group | |
Quarter ended | |
30.06.2025 | 30.06.2024 |
Company | |
Quarter ended | |
30.06.2025 | 30.06.2024 |
6. | Gross turnover |
Food products | |
Soap products | |
Fuel and Lubricant |
8. | Stated capital and number of shares |
Group/Company | |
as at | as at |
30.06.2025 | 30.06.2024 |
Stated capital (Rs.) |
No of shares (Nos.) |
105,578,000 |
1,919,600 |
105,578,000 |
1,919,600 |
9. | Market price recorded during the period |
Highest price (Rs.) |
Lowest price (Rs.) |
Closing price (Rs.) |
as at |
30.06.2025 |
Rs. |
4,000.00 |
3,600.00 |
3,762.75 |
as at |
31.03.2025 |
Rs. |
4,198.00 |
3,600.00 |
4,000.00 |
Notes : |
The above figures are provisional and subject to audit |
Figures in brackets indicate deductions |
All values are in Rs.'000, unless otherwise stated. |
HARISCHANDRA MILLS PLC |
INTERIM FINANCIAL STATEMENTS |
For the quarter ended 30 June 2025 |
10 | Twenty largest shareholders of the company |
As at | |
Shareholder's name |
30.06.2025 | 31.03.2025 | ||
No. of Shares | % | No. of Shares | % |
1 | Sampath Bank PLC /Senthilverl Holdings (PVT) Ltd. | 777,807 | 40.52% | 779,123 | 40.59% |
2 | Upeka de Silva | 286,936 | 14.95% | 286,936 | 14.95% |
3 | Chitra Padmini Rodrigo | 278,920 | 14.53% | 278,920 | 14.53% |
4 | Samarasinghe N.T. | 266,920 | 13.90% | 266,920 | 13.90% |
5 | Senaka Nilkantha Samarasinghe | 76,670 | 3.99% | 76,670 | 3.99% |
6 | Nanditha Rodrigo | 30,736 | 1.60% | 30,736 | 1.60% |
7 | Satyajit Arjuna Rodrigo | 30,736 | 1.60% | 30,736 | 1.60% |
8 | D.H.C.Ekanayake | 28,292 | 1.47% | 28,292 | 1.47% |
9 | A G I Selvaraj | 27,014 | 1.41% | 27,014 | 1.41% |
10 | H.D. Wijayanandana | 24,760 | 1.29% | 24,760 | 1.29% |
11 | M P de Silva | 5,000 | 0.26% | 5,000 | 0.26% |
12 | Chandra Sigamoney | 4,494 | 0.23% | 4,494 | 0.23% |
13 | C.J.Wijayawardana | 4,311 | 0.22% | 4,300 | 0.22% |
14 | Jayantha D | 3,800 | 0.20% | 3,800 | 0.20% |
15 | D.P.Navaratnam | 3,431 | 0.18% | 3,382 | 0.18% |
16 | Ramani Kamala Samarasinghe | 3,200 | 0.17% | 3,200 | 0.17% |
17 | H.A.Abeysekera | 2,800 | 0.15% | 2,800 | 0.15% |
18 | D.A.Jayasinghe | 2,720 | 0.14% | 2,720 | 0.14% |
19 | Estate of Mohommed Rafeek | 2,668 | 0.14% | 2,668 | 0.14% |
20 | Seyed Hamid Mohamed Kaleel | 2,536 | 0.13% | 2,536 | 0.13% |
11 | Public Holding | ||||
As at | 30.06.2025 | 31.03.2025 | |||
No. of Shares | 1,054,923 | 1,053,607 | |||
Percentage | 54.96% | 54.89% | |||
No.of Share Holders | 602 | 527 | |||
The company had float adjusted market capitalization of Rs: 4,132,479.09 and company qualifies under option one of the minimum public holding requirement for for the Diri Savi Board of the CSE. | |||||
12 | Directors Share Holding |
As at | |
Name of Director | |
Mrs. R.K. Samarasinghe | |
Mr. S.N. Samarasinghe (CEO/MD) | |
Mrs. M.P.De Silva | |
Mr. G.S.V. De Silva | |
Mr. L.L.S.Wickremasinghe | |
Mrs.R.Kobbekaduwa | |
Mr. S.A.S. Jayasundara | |
Mr.T.K.Bandaranayake | |
Total |
30.06.2025 31.03.2025
3,200 |
76,670 |
5,000 |
2,000 |
0.17% |
3.99% |
0.26% |
0.10% |
3,200 |
76,670 |
5,000 |
2,000 |
0.17% |
3.99% |
0.26% |
0.10% |
- | - | - | - | |
- | - | - | - | |
- | - | - | - | |
86,870 | 4.52% | 86,870 | 4.52% |