PGP GLASS CEYLON PLC INTERIM FINANCIAL STATEMENTS
FOR THE FIRST QUARTER ENDED 30 JUNE 2026
Company Registration No: PQ 190 No: 148 Maligawa Road Borupana
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
(all amounts in Sri Lankan Rupees thousands)
Three months ended
30 June 2026 | 30 June 2025 | ||
Revenue | 5,097,388 | 4,600,692 | |
Cost of Sales | (3,265,064) | (3,084,015) | |
Gross Profit | 1,832,324 | 1,516,677 | |
Other Operating Income | 27,117 | 15,401 | |
Selling and Distribution Expenses | (146,109) | (151,127) | |
Administrative Expenses | (276,167) | (187,164) | |
Operating Profit | 1,437,165 | 1,193,787 | |
Finance Costs | (52,631) | (703) | |
Finance Income | 112,752 | 56,724 | |
Profit before Tax | 1,497,286 | 1,249,808 | |
Income Tax Expense | (322,462) | (262,605) | |
Profit for the Period | 1,174,824 | 987,203 | |
Other Comprehensive Income | |||
Other Comprehensive Income not to be Reclassified to Profit or Loss in Subsequent Period: | |||
Actuarial (gains)/loss on defined benefit obligations | - | - | |
Income tax effect on defined benefit obligations | - | - | |
Gain/(Loss) on Financial Investments - Fair Value through Other | |||
Comprehensive Income | (201) | 391 | |
Net Other Comprehensive Income/(Loss) not to be Reclassified to | |||
Profit or Loss in Subsequent Period | (201) | 391 | |
Other Comprehensive Income/(Loss) for the Period | (201) | 391 | |
Total Comprehensive Income for the Period - Net of Tax | 1,174,623 | 987,594 | |
Earnings Per Share - Basic/Diluted | 1.24 | 1.04 | |
NB All figures in brackets indicate deductions | |||
30 June figures are subject to audit | |||
31 March 2026 Audited figures |
STATEI IENT OF FINANCIAL POSITION
(all amounts in Sri Lankan Rupees thousands}
30 June 2026 | 33. Narch Z0Z6 | 30aund ZOZS | |||
Property, Plant and Equipment | 9,218,453 | 8,824,285 | 5,327,085 | ||
Ri9ht of use assets | 33,263 | 33,962 | 36,061 | ||
Financial invesi:menl:s | 6,496 | 6,697 | 5,540 | ||
OLher receivables Total non-current aseets | 5,683 9,263,895 | 7,350 | 6,920 5,375,606 | ||
Current Assets | |||||
Inventories | 4,351,785 | 3,266,579 | 3,963,638 | ||
Trade and other receivables | 3,166,504 | 3,046,812 | 3,051,564 | ||
Prepayments | 82,345 | 68,242 | 58,320 | ||
Cash and short term deposits | 5,572,252 | 5,792,8H | 4,369,007 | ||
1Z,17Z,8BS | 12,179,d63 | ¥¥,442,539 | |||
M at
Total Assets
EQUZTY AND LIABILITIES
Capital and Rasezves
Stated capital Reserves Retained earnings
1,526,407
14,321,759
1,526,'407
106,646
13,146,935
16,81B,135
1,526,407
105,681
12,Z82,98J
Total Equity
Non-Current Liabilities
14,779,9BB
13,915,069
Lease liability
Interest bearing laans and borrowings
Deferred tax liabilities Employee benefit liability
Total non-current liabilities
Current Liabilities
2,466
1,215,000
587,964
479,181
6,M3
1,925 OO W2,830 452,767 #ABTZO0
4,639
512,759
362,462
Lease liability | 3,081 | 6,185 | 6,279 | ||
Trade and other payables | 2,715,612 | 2,115,022 | 1,569,211 | ||
Dividends payable | 172,569 | " | 173,625 | 132,816 | |
Interest bearing loans and borrowings | 848,693 | 850,1B0 | |||
Income tax payable | 't27,585 | 509,644 | 304,108 | ||
Bank overdraR | 30,017 | 124,913 | 10,792 | ||
Total current liabilities | 4,197,557 | Z,023,206 | |||
Total liabilities Z,9O3,066 Total Equity and /.iabiIhIes 2Z,436,7B0 16,818,135 | |||||
Net per share
16.79
15.56
14.65
Th inana Statements have been prepared in compliance with I:he requirements or the Companies Act No.07 of 2007.
ju
Niloni
Financial Controller
The Baard of Directors Is responsible for the preparabon and presentation on these Financial Staterrients In accordance with Sri Lanka Accounting Standards.
Approved and signed for and on behal of the Board of Directors of PGP Glass Ceylon PLC.
24th 3uIy 2026
STATEMENT OF CHANGES IN EQUITY
(all amounts in Sri Lankan Rupees thousands)
Stated Capital | Fair Value Reserve | Revaluation Reserves | Retained Earnings | Total | |||||
Rs. | Rs. | Rs. | Rs. | Rs. | |||||
As at 01 April 2025 | 1,526,407 | 3,882 | 101,408 | 11,295,778 | 12,927,475 | ||||
Total comprehensive income for the period | |||||||||
Profit for the Period | - | - | - | 987,203 | 987,203 | ||||
Other comprehensive income | - | 391 | - | - | 391 | ||||
Total comprehensive income | - | 391 | - | 987,203 | 987,594 | ||||
As at 30 June 2025 | 1,526,407 | 4,273 | 101,408 | 12,282,981 | 13,915,069 | ||||
Profit for the period | - | - | - | 3,059,108 | 3,059,108 | ||||
Other comprehensive income | - | 965 | - | (51,326) | (50,361) | ||||
Total comprehensive income | - | 965 | - | 3,007,782 | 3,008,747 | ||||
Dividend paid | - | - | - | (2,147,195) | (2,147,195) | ||||
Unclaimed dividend write back | - | - | - | 3,367 | 3,367 | ||||
As at 31 March 2026 | 1,526,407 | 5,238 | 101,408 | 13,146,935 | 14,779,988 | ||||
Profit for the period | - | - | - | 1,174,824 | 1,174,824 | ||||
Other comprehensive income | - | (201) | - | - | (201) | ||||
Total comprehensive income | - | (201) | - | 1,174,824 | 1,174,623 | ||||
As at 30 June 2026 | 1,526,407 | 5,037 | 101,408 | 14,321,759 | 15,954,611 | ||||
STATEMENT OF CASH FLOWS
(all amounts in Sri Lankan Rupees thousands)
Three months ended
30 June 2026 | 30 June 2025 | ||
Cash Flow from Operating Activities | Rs. | Rs. | |
Profit before Tax | 1,497,286 | 1,249,808 | |
Non-cash Adjustment to Reconcile Profit before Tax to Net Cash Flows: Depreciation of Property, Plant Equipment | 246,457 | 163,456 | |
Provision for employee benefit liability | 28,281 | 31,751 | |
Provision for slow moving inventories | 59,532 | 59,057 | |
Provision for impairment on trade receivable | 6,376 | 6,546 | |
Right of Use Asset - Depreciation | 699 | 699 | |
Script dividend income from quoted investment | (109) | - | |
Finance Costs | 52,631 | 703 | |
Finance Income | (112,644) | (56,724) | |
Operating Profit before Working Capital Changes | 1,778,509 | 1,455,296 | |
Working Capital Adjustments: (Increase) / Decrease in Inventories | (1,144,738) | 26,582 | |
(Increase) / Decrease in Trade and Other Receivables and Prepayments | (138,503) | 839,302 | |
(Increase) / Decrease in Trade and Other Payables | 562,322 | (282,291) | |
Cash Generated from Operations | 1,057,591 | 2,038,889 | |
Income tax paid | (410,179) | (557,003) | |
Employee benefit liability costs paid | (1,846) | (1,723) | |
Interest Paid | (52,631) | (703) | |
Net cash flow generated from / (used in) operating activities | 592,934 | 1,479,460 | |
Cash Flows from Investing Activities Acquisition of Property, Plant and Equipment | (615,125) | (13,290) | |
Finance Income | 112,644 | 56,724 | |
Loans & Advances Granted to Company Officers during the Period | (425) | (8,550) | |
Repayment of Loans & Advances by Company Officers during the Period | 3,264 | 2,732 | |
Net cash flow (used in) investing activities | (499,642) | 37,616 | |
Cash Flows from Financing Activities Repayments of interest bearing long term loans | (210,000) | - | |
Lease rental paid | (7,918) | (7,582) | |
Dividends Paid | (1,056) | (1,589) | |
Net Cash Flow Generated from/(Used in) Financing Activities | (218,974) | (9,171) | |
Net Increase/ (Decrease) in Cash and Cash Equivalents | (125,682) | 1,507,905 | |
Cash and Cash Equivalent at the Beginning of the Period | 5,667,917 | 2,850,309 | |
Cash and Cash Equivalent at the End of the Period | 5,542,235 | 4,358,214 | |
NOTES TO THE INTERIM FINANCIAL STATEMENTS
The interim financial statements have been prepared in accordance with Sri Lanka Accounting Standard - LKAS 34 Interim Financial Reporting. There are no changes to the Accounting Polices and methods of computation since the publication of Financial Statements for the year ended 31st March 2026.
The Company has commitments for acquisition of property, plant and equipment incidental to the ordinary course of business as at 30 June 2026 are as follows:
30 June 2026 31 March 2026 Rs. Mn Rs. Mn
Contracted but not Provided 657 617
Authorized by the Board, but not Contracted
Financial instruments measured at fair value
738 524
1,395 1,141
Assets measured at fair value
As at 30 June 2026 As at 31 March 2026
Total Level 1 Level 3 Total Level 1 Level 3
Equity Instruments at FVTOCI Rs. Rs. Rs. Rs. Rs. Rs.
Quoted equity shares 5,956,009 5,956,009 - 6,157,150 6,157,150 -
Unquoted shares 540,000 - 540,000 540,000 - 540,000
6,496,009 5,956,009 540,000 6,697,150 6,157,150 540,000
As at 30 June 2026, the Company held the above financial instruments carried at fair value on the statement of financial position.Carrying value of the unquoted shares do not significantly different from the fair value of the investment.
There have been no significant Contingent Assets or Contingent Liabilities as at the Reporting date which require disclosures in the interim Financial Statements.
The number of shares in issue of the Company as at 30 June 2026 is 950,086,080 (As at 30 June 2025 - 950,086,080).
Percentage of Public holding as at 30 June 2026 was 21.24% (As at 30 June 2025-21.22%) & total No. of Shareholders who holds the Public Holding as at 30 June 2026 -11,285 (As at 30 June 2025 - 11,003).
The float adjusted market capitalization as at 30 June 2026 was Rs.11,403,693,490.The Float adjusted market capitalization of the Company falls under Option 1 of Rule 7.13.1 (i) (a) of the Listing Rules of the Colombo Stock Exchange and the Company has complied with the minimum public holding requirement applicable under the said option.
There have been no material events occurred after the reporting date that require adjustments to or disclosure in the financial statements, except the Board of Directors of the company has proposed the First & Final dividend of Rs.2.98 per share for the financial year ended 31 March 2026 for amounting to Rs.2,831,256,518/- as its board meeting held on 21st May 2026. It has been approved by shareholders at 71st Annual General Meeting held on 24th July 2026.
The Market Price of PGP Glass Ceylon PLC's Ordinary Shares
During the quarter ended
30 June
2026
30 June
2025
Rs.
Rs.
Highest Price
58.40
53.90
Lowest Price
52.00
34.00
Last Traded Price
56.50
52.00
The details of shares held by the Directors and their spouses as at 30 June 2026 are as follows:
No of Shares %
Mr. S K Tiwari 1,014,166 0.107
(Shares held jointly with Mrs. S S Tiwari)
NOTES TO THE INTERIM FINANCIAL STATEMENTS
20 Major Shareholders as at 30 June 2026
No | NAME OF SHAREHOLDER | NO. OF SHARES | % |
01 | DEUTSCHE BANK AG COLOMBO BRANCH/ DB INTERNATIONAL TRUST (SINGAPORE) LIMITED/PGP GLASS PRIVATE LIMITED | 747,236,631 | 78.65 |
02 | EMPLOYEE'S PROVIDENT FUND | 90,317,140 | 9.51 |
03 | MONA EXPORTS (PVT) LIMITED | 25,122,213 | 2.64 |
04 | MES BANGKOK GLASS INDUSTRY COMPANY LIMITED | 6,280,000 | 0.66 |
05 | MR. G.C. GOONETILLEKE | 3,932,957 | 0.41 |
06 | MR. H.M. UDESHI | 3,000,000 | 0.32 |
07 | TRANZ DOMINIONL.L.C. | 1,650,000 | 0.17 |
08 | MR C. WIJESINGHE | 1,440,000 | 0.15 |
09 | MRS P. DISSANAYAKE | 1,440,000 | 0.15 |
10 | MR. S.R. PERERA | 1,215,000 | 0.13 |
11 | MR. M.S.A. HUSSNY | 1,179,580 | 0.12 |
12 | MRS. S.S. TIWARI & MR. S.K.TIWARI | 1,014,166 | 0.11 |
13 | MR. A.D. EDUSSURIYA | 1,000,000 | 0.11 |
14 | NATIONAL DEVELOPMENT BANK PLC/ MITHILA MEEPAL SOMASIRI | 971,261 | 0.10 |
15 | MR. P.R. ANTHONIS | 928,000 | 0.10 |
16 | HATTON NATIONAL BANK PLC A/C NO.4 (HNB RETIREMENT PENSION FUND) | 910,566 | 0.10 |
17 | EMPLOYEES TRUST FUND BOARD | 887,426 | 0.09 |
18 | CT CLSA ASSET MANAGEMENT/ HANIF YUSOOF | 738,606 | 0.08 |
19 | SSBT-PARAMETRIC TAX-MANAGED EMERGING MARKETS FUND | 683,370 | 0.07 |
20 | MR. S. YUSOOF | 650,000 | 0.07 |
SUB TOTAL | 890,596,916 | 93.74 | |
OTHERS | 59,489,164 | 6.26 | |
TOTAL | 950,086,080 | 100.00 |
CORPORATE INFORMATION
Name of Company Bankers
PGP Glass Ceylon PLC Citi Bank, N.A
Commercial Bank of Ceylon PLC
Company Registration number Standard Chartered Bank
PQ 190 People's Bank
Hatton National Bank PLC
The Board of Directors DFCC Bank PLC
Vijay Shah - Chairman State Bank of India
Samit Datta- Executive Director/COO
Sanjay Tiwari Registrars
Mayura Fernando
Aruni Goonetilleke Central Depository Systems (Pvt) Limited
M & M Center, 341/5, Kotte Road, Rajagiriya. Telephone: +94 11 2356456 & +94 11 7 420 400
Audit and Risk Committee Legal Advisors
Messrs. F.J. & G. de Saram
Mayura Fernando - Chairman 216, De Saram Place , Colombo 10
Aruni Goonetilleke Telephone: +94 114 718 200-4
Sanjay Tiwari
Statutory Auditors
Remuneration Committee Messrs. KPMG
Chartered Accountants
Aruni Goonetilleke - Chairperson 32 A, Sir Mohamed Macan Markar Mawatha
Vijay Shah Colombo 03
Mayura Fernando
Internal Auditors
Related Party Transactions Review Committee Messrs.Ernst and Young Consulting Services PVT LTD Rotunda Towers
Mayura Fernando - Chairman No. 109, Galle Road
Sanjay Tiwari Colombo 03
Samit Datta
Aruni Goonetilleke
Nomination and Governance committee Registered office
Aruni Goonetilleke - Chairperson 148, Maligawa Road, Borupana, Ratmalana
Vijay Shah Telephone: +94 112 635 481-83/+94 117 800 200 -4
Mayura Fernando Fax:+94 112 635 484
Web: https://www.pgpglassceylon.com
Senior Management Team
Samit Datta Executive Director/COO Factory
Niloni Boteju Financial Controller Wagawatte Road, Poruwadanda, Horana.
Palitha Priyanandana Head of Supply Chain Telephone: +94 344 938 965-67/+94 347 800 200 Arun Khedwal Genaral Manager and Head of Operations Fax:+94 342 258 120
Thushara Deshapriya Head of Domestic Marketing
Damitha Dasanayake Head of Export Marketing Madampe Road,Pahala Walahapitiya,Nattandiya A.K.M.Fowzin Head of Human Resources Telephone: +94 327 800 200 -4
Fax:+94 322 255 193
Company Secretary
Mrs. Sagarika Weeraparackrama (Attorney-at-Law) (Up to 01.06.2026) Senior Manager Legal
Mrs. Vibodha Ratnayake (Attorney-at-Law) (w.e.f 01.06.2026) Manager Legal
148, Maligawa Road, Borupana, Ratmalana Telephone: +94 117 800 200-4 Ext: 604