Quarterly Financial Statements as of 30-09-2022

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - GROUP

Quarter

Quarter

Six Months

Six Months

Ended

Ended

Ended

Ended

30.09.2022

30.09.2021

Variance

30.09.2022

30.09.2021

Variance

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

Revenue

2,149,734

1,120,963

+

92

4,415,548

2,459,405

+

80

Cost of Sales

(1,464,038)

(1,116,872)

-

31

(2,961,410)

(2,396,941)

-

24

Gross Profit

685,696

4,091

+

16,661

1,454,138

62,464

+

2,228

Other Income

22,797

113,593

-

80

36,541

133,540

-

73

Administration Expenses

(47,163)

(31,801)

-

48

(97,744)

(62,917)

-

55

Net Finance Cost

(87,403)

(53,744)

-

63

(151,544)

(123,299)

-

23

Profit before Tax

573,927

32,139

+

1,686

1,241,391

9,788

+

12,583

Taxation

(210)

(216)

+

3

(210)

(216)

+

3

Profit for the period

+

1,697

+

12,867

573,717

31,923

1,241,181

9,572

Other Comprehensive Income

Changes in Fair Value of Financial Assets classified as

1,234

413

830

593

FVOCI

+

199

+

40

1,234

413

+

199

830

593

+

40

Total Comprehensive Income

574,951

32,336

+

1,678

1,242,011

10,165

+

12,119

Attributable to

Owners of the Company

371,404

20,335

+

1,726

818,482

2,181

+

37,428

Non - Controlling Interest

202,313

11,588

+

1,646

422,699

7,391

+

5,619

Profit/(Loss) for the Period

573,717

31,923

+

1,697

1,241,181

9,572

+

12,867

Attributable to

Owners of the Company

372,384

20,605

+

1,707

819,058

2,631

+

31,031

Non - Controlling Interest

202,567

11,731

+

1,627

422,953

7,534

+

5,514

Total Comprehensive Income

574,951

32,336

+

1,678

1,242,011

10,165

+

12,119

Earnings Per Share (Rs.)

3.10

0.17

+

1,726

6.82

0.02

+

37,428

Lankem Developments PLC

2

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY

Quarter

Quarter

Six Months

Six Months

Ended

Ended

Ended

Ended

30.09.2022

30.09.2021

Variance

30.09.2022

30.09.2021

Variance

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

Revenue

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

Other Income

200,820

-

+

100

200,820

-

+

100

Administration Expenses

(1,391)

(1,257)

-

11

(2,042)

(1,660)

-

23

Net Finance Income/(Cost)

(46,829)

(7,826)

-

498

(55,644)

(15,551)

-

258

Profit/(Loss) before Tax

152,600

(9,083)

+

1,780

143,134

(17,211)

+

932

Income Tax Expense

-

-

-

-

-

-

-

-

Profit/ (Loss) for the Period

+

1,780

+

932

152,600

(9,083)

143,134

(17,211)

Other Comprehensive Income / (Expense)

Changes in Fair Value of Financial Assets classified as

FVOCI

454

(107)

+

524

50

73

-

32

Total Comprehensive Income / (Expense)

153,054

(9,190)

+

1,765

143,184

(17,138)

+

935

Attributable to

Owners of the Company

152,600

(9,083)

+

1,780

143,134

(17,211)

+

932

Non - Controlling Interest

-

-

-

-

-

-

-

-

Profit / (Loss) for the Period

152,600

(9,083)

+

1,780

143,134

(17,211)

+

932

Attributable to

Owners of the Company

153,054

(9,190)

+

1,765

143,184

(17,138)

+

935

Non - Controlling Interest

-

-

-

-

-

-

-

-

Total Comprehensive Income / (Expense)

153,054

(9,190)

+

1,765

143,184

(17,138)

+

935

Earnings/(Loss) per Share (Rs.)

1.27

(0.08)

+

1,780

1.19

(0.14)

+

932

Lankem Developments PLC

3

Group

Company

As at

As at

As at

As at

30.09.2022

31.03.2022

30.09.2022

31.03.2022

Rs.'000

Rs.'000

Rs.'000

Rs.'000

(Audited)

(Audited)

ASSETS

Non - Current Assets

Property, Plant & Equipment

761,768

760,093

22,400

22,400

Bearer Biological Assets

2,211,992

2,225,511

-

-

Right of Use Assets

165,221

171,583

-

-

Consumable Biological Assets

1,443,161

1,439,365

-

-

Intangible Assets

629,064

629,064

-

-

Investments in Subsidiaries

-

-

1,423,481

1,467,481

Financial Assets Measured at Fair Value through OCI

5,980

5,150

4,030

3,980

Total Non-Current Assets

5,217,186

5,230,766

1,449,911

1,493,861

Current Assets

Inventories

939,870

473,853

-

-

Produce on Bear Biological Assets

10,852

10,852

-

-

Trade and Other Receivables

270,061

265,428

14

14

Loans due from Related Parties

10,163

419,584

10,163

10,163

Amounts due from Related Parties

164,061

96,297

14,388

17,736

Taxes Recoverable

48,764

48,765

4,164

4,164

Cash and Cash Equivalents

83,144

93,414

17

17

Total Current Assets

1,526,915

1,408,193

28,746

32,094

TOTAL ASSETS

6,744,101

6,638,959

1,478,657

1,525,955

EQUITY AND LIABILITIES

Stated Capital

1,558,006

1,558,006

1,558,006

1,558,006

General Reserve

500

500

500

500

Reserve for Financial Assets at FVOCI

(114,425)

(115,001)

658

608

Revaluation Reserve

11,742

11,742

11,742

11,742

Accumulated Losses

(167,582)

(868,718)

(637,806)

(780,940)

Equity Attributable to Equity Holders of the Parent

1,288,241

586,529

933,100

789,916

Non - Controlling Interest

657,169

306,050

-

-

Total Equity

1,945,410

892,579

933,100

789,916

Non - Current Liabilities

Interest Bearing Borrowings

740,404

830,593

-

-

Deferred Income

188,965

192,565

-

-

Deferred Tax Liabilities

67,422

67,418

3,708

3,708

Lease Liabilities

4,446

4,093

-

-

Retirement Benefit Obligations

1,120,213

1,129,917

-

-

Total Non-Current Liabilities

2,121,450

2,224,586

3,708

3,708

Current Liabilities

Trade & Other Payables

1,127,872

1,855,064

13,837

14,813

Lease Liabilities

595

595

-

-

Loans due to Related Parties

424,923

600,726

424,923

600,726

Amounts due to Related Parties

112,974

130,439

97,986

111,774

Interest Bearing Borrowings

640,799

477,637

-

-

Income Tax Payable

-

21,536

-

-

Bank Overdraft

370,078

435,797

5,103

5,018

Total Current Liabilities

2,677,241

3,521,794

541,849

732,331

Total Liabilities

4,798,691

5,746,380

545,557

736,039

TOTAL EQUITY AND LIABILITIES

6,744,101

6,638,959

1,478,657

1,525,955

Net Assets per Share (Rs.)

10.74

4.89

7.78

6.58

(0)

-

(0)

-

Sgd.

Sgd.

S.D.R. Arudpragasam

P.M.A. Sirimane

Chairman

Director

Colombo

09th November 2022

Lankem Developments PLC

4

Group

Stated

General

FVTOCI

Revaluation

Accumulated

Total

Non-Controlling

Total

Capital

Reserve

Reserve

Reserve

Profit/ (Loss)

Interest

Equity

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Balance as at 01st April 2022

1,558,006

500

(115,001)

11,742

(868,718)

586,529

306,050

892,579

Profit for the period

-

-

-

-

818,482

818,482

422,699

1,241,181

Other Comprehensive Income

-

-

576

-

-

576

254

830

Effect of changes in effective Holdings in Subsidiaries

-

-

-

-

(117,346)

(117,346)

(71,834)

(189,180)

Balance as at 30th September 2022

1,558,006

500

(114,425)

11,742

(167,582)

1,288,241

657,169

1,945,410

Balance as at 01st April 2021

1,558,006

500

(93,370)

9,773

(1,214,547)

260,362

(123,941)

136,421

Profit for the period

-

-

-

-

2,181

2,181

7,391

9,572

Other Comprehensive Income

-

-

450

-

-

450

143

593

Balance as at 30th September 2021

1,558,006

500

(92,920)

9,773

(1,212,366)

262,993

(116,407)

146,586

Company

Stated

General

FVTOCI

Revaluation

Accumulated

Total

Capital

Reserve

Reserve

Reserve

Profit/(Loss)

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Balance as at 01st April 2022

1,558,006

500

608

11,742

(780,940)

789,916

Profit for the period

-

-

-

-

143,134

143,134

Other Comprehensive Income

-

-

50

-

-

50

Balance as at 30th September 2022

1,558,006

500

658

11,742

(637,806)

933,100

Balance as at 01st April 2021

1,558,006

500

546

9,773

(880,865)

687,960

Profit/(Loss) for the period

-

-

-

-

(17,211)

(17,211)

Other Comprehensive Income

-

-

73

-

-

73

Balance as at 30th September 2021

1,558,006

500

619

9,773

(898,076)

670,822

Lankem Developments PLC

5