INTERIM CONDENSED
FINANCIAL STATEMENTS
Nine Months Ended 31 December 2024
Corporate Information
Printcare PLC was incorporated as a Private Limited Liability Company on 3rd September 1979
Under the Companies' Ordinance NO. 51 of 1938.
It was converted to a Public Limited Liability Company on 21st October 1994.
Company Registration No : PQ 75
Tax payer Identification No : 104059317
BOARD OF DIRECTORS
Abbas Esufally- Chairman
K R Ravindran - Managing Director
Ejaz Chatoor
Dayasiri Warnakulasooriya
Ms. Anushya Coomaraswamy
Vajira Kulatilaka
Krishna Ravindran
Steven Mark Enderby
Malik J Fernando
Ms. Devika Weerasinghe - Appointed w.e.f. 27.09.2024
REGISTERED OFFICE
77, Nungamugoda Road, Kelaniya.
STOCK EXCHANGE LISTING
Colombo Stock Exchange
AUDITORS
Messrs. Ernst & Young
Chartered Accountants
109, Rotunda Towers, Colombo 03.
LAWYERS
D.L. & F De Saram
Attorneys-at-Law and Notaries Public
47,Alexandra Place, Colombo 07.
SECRETARIES
Managers & Secretaries (Pvt) Limited
8, Tickell Road, Colombo 08.
BANKERS
National Development Bank PLC
Commercial Bank of Ceylon PLC
Standard Chartered Bank
People's Bank
Nations Trust Bank PLC
Bank of Ceylon
Hatton National Bank PLC
Union Bank of Colombo PLC
Seylan Bank PLC
DFCC Bank PLC
Printcare PLC
Consolidated Income Statement | ||||||||
Group | ||||||||
Nine Months | Nine Months | Quarter | Quarter | Year | ||||
Note | ended | ended | Variance | ended | ended | Variance | ended | |
31.12.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | ||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs. '000 | ||
Revenue | 9,071,050 | 9,638,541 | (567,491) | 3,272,625 | 3,368,976 | (96,351) | 12,885,431 | |
Cost of Sales | (7,252,456) | (7,554,940) | 302,484 | (2,587,514) | (2,562,731) | (24,783) | (10,025,864) | |
Gross Profit | 1,818,595 | 2,083,601 | (265,006) | 685,111 | 806,245 | (121,134) | 2,859,567 | |
Other Operating Income | 11 | 353,761 | 276,898 | 76,864 | (29,970) | 92,632 | (122,602) | 152,209 |
Other Operating Expense | (61,035) | (470) | (60,565) | (16,269) | 66 | (16,335) | (9,925) | |
Distribution Costs | (307,576) | (325,510) | 17,934 | (106,010) | (113,146) | 7,136 | (362,144) | |
Administrative Expenses | (1,699,839) | (1,209,285) | (490,555) | (548,184) | (401,230) | (146,953) | (1,662,625) | |
Results from Operating Activities | 103,905 | 825,234 | (721,329) | (15,322) | 384,566 | (399,888) | 977,083 | |
Finance Income | 68,488 | 14,205 | 54,283 | 11,275 | (627) | 11,903 | 24,422 | |
Finance Costs | (486,996) | (356,498) | (130,498) | (163,765) | (111,818) | (51,948) | (465,811) | |
Profit/ (Loss) Before Tax | (314,602) | 482,942 | (797,544) | (167,812) | 272,121 | (439,933) | 535,694 | |
Income Tax (Expense)/Reversal | (192,881) | (233,217) | 40,336 | (76,488) | (111,075) | 34,587 | (312,779) | |
Profit/ (Loss) for the Period | (507,483) | 249,725 | (757,208) | (244,300) | 161,046 | (405,346) | 222,915 | |
Profit/ (Loss) Attributable to: | ||||||||
Equity Holders of the Parent | (316,971) | 289,466 | (606,437) | (151,800) | 180,666 | (332,466) | 246,936 | |
Minority Interests | (190,512) | (39,742) | (150,771) | (92,500) | (19,620) | (72,880) | (24,024) | |
(507,483) | 249,725 | (757,208) | (244,300) | 161,046 | (405,346) | 222,915 | ||
Earnings Per Share - Basic | 10 | (3.69) | 3.37 | (1.77) | 2.10 | 2.87 | ||
Dividends Per Share | 1.00 | 3.50 | - | - | 4.50 |
The above figures are provisional and subject to audit.
Printcare PLC
Consolidated Statement of Comprehensive Income | |||||
Group | |||||
Nine Months | Nine Months | Quarter | Quarter | Year | |
Note | ended | ended | ended | ended | Ended |
31.12.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs. '000 | |
Profit/ (Loss) for the Period | (507,483) | 249,725 | (244,300) | 161,046 | 222,915 |
Other Comprehensive Income | |||||
Gains on Fair Value through Other Comprehensive Income Investments | 882 | 264 | 856 | (548) | 592 |
Currency Translation of Foreign Operations | 3,903 | (2,564) | (21,151) | 2,385 | (20,246) |
Actuarial Gains/(Losses) | - | - | - | - | 34,018 |
Revaluation Gain | - | - | - | - | 1,552,137 |
Deferred Tax Effect on actuarial gain | - | - | - | - | (10,226) |
Deferred Tax Effect on capital gain on Land & Buildings | - | - | - | - | (421,791) |
Other Comprehensive Income for the Year Net of Tax | (502,698) | 247,425 | (264,595) | 162,883 | 1,357,399 |
Total Comprehensive Income Attributable to: | |||||
Equity Holders of the Parent | (311,763) | 287,166 | (166,087) | 182,503 | 1,358,747 |
Minority Interests | (190,935) | (39,742) | (98,508) | (19,620) | (1,348) |
(502,698) | 247,425 | (264,596) | 162,883 | 1,357,399 | |
The above figures are provisional and subject to audit. |
Printcare PLC
Statement Of Changes In Equity | |||||
Group | Nine Months ended 31 December 2024 | ||||
Attributable to Equity Holders of the Parent | |||||
Stated | Other | Exchange | Revaluation | Retained | |
Translation | |||||
Capital | Reserve | Reserve | Earnings | ||
Reserve | |||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Balance as at 31 March 2023 | 271,893 | 1,001,083 | (2,671) | 1,153,203 | 4,169,152 |
Profit/ (Loss) for the Year | - | - | - | - | 289,466 |
Other Comprehensive Income /(Loss) | - | - | (2,564) | - | - |
Dividends Paid | - | - | - | - | (300,883) |
Balance as at 31 December 2023 | 271,893 | 1,001,083 | (5,235) | 1,153,203 | 4,157,735 |
Balance as at 31 March 2024 | 271,893 | 1,001,266 | (22,917) | 2,671,559 | 3,642,162 |
Share Issued | - | - | - | - | |
Profit/ (Loss) for the Year | - | - | - | - | (316,971) |
Other Comprehensive Income | - | - | 4,326 | - | - |
Transfer to Retained Earnings | - | - | - | (42,184) | 42,184 |
Dividends Paid | - | - | - | - | (85,967) |
Balance as at 31 December 2024 | 271,893 | 1,001,266 | (18,592) | 2,629,375 | 3,281,409 |
The above figures are provisional and subject to audit. |
Fair value | |||
through Other | Total | Minority | Total |
Comprehensive | Interests | Equity | |
Income Reserves | |||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
1,802 | 6,594,461 | 240,743 | 6,835,204 |
289,466 | (39,742) | 249,725 | |
264 | (2,300) | - | (2,300) |
- | (300,883) | - | (300,883) |
2,066 | 6,580,744 | 201,001 | 6,781,746 |
2,394 | 7,566,358 | 302,794 | 7,869,152 |
- | - | 332,658 | 332,658 |
(316,971) | (190,512) | (507,483) | |
882 | 5,208 | (423) | 4,785 |
- | - | - | - |
- | (85,967) | - | (85,967) |
3,276 | 7,168,628 | 444,517 | 7,613,145 |
Printcare PLC
Cash flow Statement
Nine Months ended 31 December 2024
Note | Group | |
2024 | 2023 | |
Cash Flows From / (Used in) Operating Activities | Rs.'000 | Rs.'000 |
Profit / (Loss) Before Income Tax Expense | (314,602) | 482,942 |
Non-Cash Adjustment to Reconcile Profit Before Tax to Net Cash Flows: | ||
Depreciation | 379,478 | 301,682 |
Amortization of Intangible Assets | 7,092 | 7,697 |
(Profit) / Loss on Sale of Property, Plant and Equipment | 158 | (13,537) |
Amortization of Right to use asset | 28,720 | 15,271 |
Interest on Lease Liabilty | 10,177 | 3,497 |
Interest Income on Refundable Deposit | (141) | (73) |
Finance Costs | 476,819 | 353,001 |
Finance Income | (68,347) | (14,132) |
Provision for Employee Benefit Liability | 32,373 | 24,321 |
Provision/(Reversal) for Slow Moving Stocks | 3,702 | 5,422 |
Provision/(Reversal) of Impairment of Trade and Other Receivables | 13,286 | 12,718 |
Unrealised Exchange (Gain)/Loss | 28,161 | 6,186 |
Operating Profit before Working Capital Changes | 596,875 | 1,184,994 |
Working Capital Adjustment: | ||
(Increase)/ Decrease In Inventories | (161,098) | 1,056,879 |
(Increase)/ Decrease In Trade and Other Receivables | (746,137) | (83,773) |
(Increase)/ Decrease In Prepaymets | 349,202 | (54,458) |
(Increase)/Decrease In Tax Recoverable/Payable | (384,221) | 43,377 |
Increase/ (Decrease) In Trade and Other Payables | 807,882 | 66,272 |
Cash Generated From Operations | 462,503 | 2,213,291 |
Finance Costs Paid | (475,086) | (365,523) |
Employee Benefit Plan Costs paid | (60,702) | (12,176) |
Income Tax Paid | (194,853) | (317,609) |
Net Cash Flows From/(Used in) Operating Activities | (268,139) | 1,517,982 |
Cash Flows From Investing Activities | ||
Acquisition of Property, Plant and Equipment | (2,774,416) | (366,050) |
Proceeds from Sale of Property, Plant and Equipment | 47 | 14,926 |
Acquisition of Intangible Assets | (4,645) | (5,738) |
Finance Income Received | 68,347 | 14,132 |
Investment in Other Short Term Investements | 1,122,549 | (111,808) |
Net Cash Flows From/(Used in) Investing Activities | (1,588,118) | (454,538) |
Cash Flows From/(Used in) Financing Activities | ||
Proceeds From Interest Bearing Loans & Borrowings | 13,701,445 | 13,509,312 |
Repayment of Interest Bearing Loans & Borrowings | (11,215,477) | (13,668,190) |
Share issue - Minority Interest | 332,658 | - |
Lease Liability Paid | (32,932) | (18,280) |
Dividend Paid | (85,967) | (300,883) |
Net Cash Flows Used in Financing Activities | 2,699,727 | (478,042) |
Net Increase/(Decrease) in Cash and Cash Equivalents | 843,471 | 585,403 |
Effect of Exchange Rate Changes | 3,903 | (2,564) |
Cash and Cash Equivalents at the Beginning of the Year | 757,084 | 1,161,034 |
1,604,459 | 1,743,874 | |
Cash and Cash Equivalents in Cash | 1,644,091 | 1,743,874 |
Cash and Cash Equivalents | ||
Bank Overdrafts | (39,631) | - |
Total Cash and Cash Equivalents | 1,604,459 | 1,743,874 |
The above figures are provisional and subject to audit. |
Printcare PLC
Income Statement | ||||||||
Company | ||||||||
Nine Months | Nine Months | Quarter | Quarter | Year | ||||
Note | ended | ended | Variance | ended | ended | Variance | ended | |
31.12.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | ||||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
Revenue | 2,828,531 | 2,860,693 | (32,162) | 1,045,627 | 1,003,991 | 41,636 | 3,873,130 | |
Cost of Sales | (2,387,590) | (2,356,785) | (30,805) | (861,239) | (819,415) | (41,824) | (3,257,302) | |
Gross Profit | 440,942 | 503,909 | (62,967) | 184,387 | 184,576 | (188) | 615,828 | |
Other Operating Income | 71,128 | 75,144 | (4,016) | 26,711 | 17,340 | 9,370 | 79,706 | |
Distribution Costs | (120,531) | (82,277) | (38,254) | (87,457) | (51,478) | (35,979) | (100,870) | |
Administrative Expenses | (307,168) | (240,705) | (66,463) | (94,613) | (47,837) | (46,776) | (330,458) | |
Results from Operating Activities | 84,371 | 256,071 | (171,700) | 29,028 | 102,601 | (73,573) | 264,207 | |
Changes in Fair value of Investment Property | - | - | - | - | - | - | 137,948 | |
Finance Income | 64,222 | 209,180 | (144,958) | 19,372 | 620 | 18,751 | 273,604 | |
Finance Costs | (83,552) | (120,561) | 37,009 | (27,764) | (39,262) | 11,498 | (154,792) | |
Profit/ (Loss) Before Tax | 65,041 | 344,690 | (279,649) | 20,636 | 63,959 | (43,324) | 520,968 | |
Income Tax (Expense)/Reversal | 4,104 | (14,082) | 18,186 | 1,780 | (2,576) | 4,356 | (58,342) | |
Profit/ (Loss) for the Period | 69,145 | 330,609 | (261,463) | 22,416 | 61,383 | (38,967) | 462,625 | |
Earnings Per Share - Basic | 10 | 0.80 | 3.85 | 0.26 | 0.71 | 5.38 | ||
Dividends Per Share | 1.00 | 3.50 | - | - | 4.50 |
The above figures are provisional and subject to audit.
Printcare PLC
Statement of Comprehensive Income | |||||
Company | |||||
Nine Months | Nine Months | Quarter | Quarter | Year | |
Note | ended | ended | ended | ended | ended |
31.12.2024 | 31.12.2023 | 31.12.2024 | 31.12.2023 | 31.03.2024 | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |
Profit/ (Loss) for the Period | 69,145 | 330,609 | 22,416 | 61,383 | 462,625 |
Other Comprehensive Income | |||||
Gains on Fair Value through Other | 240 | 216 | 152 | (181) | 164 |
Comprehensive Income Investments | |||||
Actuarial Gains/(Losses) | - | - | - | - | 35,676 |
Revaluation Gain | - | - | - | - | 405,907 |
Deferred Tax Effect on actuarial gain | - | - | - | - | (10,703) |
Deferred Tax Effect on capital gain on land | - | - | - | - | (121,772) |
Profit/ (Loss) for the Period | 69,385 | 330,825 | 22,568 | 61,202 | 771,897 |
The above figures are provisional and subject to audit.
Printcare PLC
Statement Of Financial Position
As at 31 December 2024
Company
ASSETS
Non-Current Assets
Property, Plant and Equipment Intangible Assets Investment Property Investment in Subsidiaries
Fair value through Other Comprehensive Income Investments
Current Assets
Inventories
Trade and Other Receivables
Prepayments
Other Taxes Recoverable
Cash and Bank Balances
Total Assets
EQUITY AND LIABILITIES
Equity
Stated Capital12
Reserves
Revaluation Reserve
Retained Earnings
Fair value through Other Comprehensive Income Reserves Total Equity
Non-Current Liabilities
Interest Bearing Loans and Borrowings
Deferred Tax Liabilities
Employee Benefit Liabilities
Current Liabilities
Trade and Other Payables
Income Tax Payable
Other Taxes Payable
Interest Bearing Loans and Borrowings
Total Equity and Liabilities
Net Asset Value Per Share (Rs.) | 14 |
The above figures are provisional and subject to audit.
10-02-2025
31.12.2024 | 31.03.2024 |
Rs.'000 | Rs.'000 |
1,813,209 1,789,229
6,4436,905
175,352 175,352
413,957 344,807
1,2911,051
2,410,252 2,317,344
958,860 958,397
983,457 991,409
20,026 49,993
28,0289,560
31,803 65,904
2,022,174 2,075,262
4,432,426 4,392,606
271,893 271,893
409,271 409,271
884,651 895,405
597,575 603,643
763523
2,164,154 2,180,735
181,029 298,048
456,496 461,644
118,541 137,818
756,065 897,511
340,694 401,938
20,822 38,639
4,4733,895
1,146,218 869,888
1,512,207 1,314,360
4,432,426 4,392,606
25.1725.37
Printcare PLC
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