Interim Financial Statements as at 31 12 24

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: + (94) 114310500

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: + (94) 114310777

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: www.arpico.com

E-mail

: cpu@arpico.com

Unaudited

Audited

As at

As at

31st December

31st March

2024

2024

As at

Rs. '000

Rs. '000

Assets

Non-current assets

Property, plant and equipment

27,020,456

26,784,504

Investment properties

470,998

481,168

Right-of-use Assets

3,523,086

3,636,175

Intangible assets

1,156,369

1,137,044

Consumable Biological assets

1,763,457

1,763,300

Investments in subsidiaries

-

-

Investment in associates

566,270

473,063

Other non-current financial assets

6,772,539

5,441,642

Deferred tax assets

1,355,448

1,179,214

42,628,624

40,896,110

Current assets

Inventories

13,769,964

13,129,119

Trade and other receivables

13,652,582

11,736,922

Produce on bearer biological assets

60,715

60,715

Loans and advances

13,767,789

12,265,444

Tax receivables

185,900

212,370

Other current financial assets

1,387,014

1,701,180

Cash and short-term deposits

14,210,091

12,915,837

57,034,055

52,021,587

Total assets

99,662,679

92,917,697

Equity and liabilities

Equity

Stated capital

1,972,829

1,972,829

Revenue reserves

23,676,762

22,531,452

Statutory reserve fund

88,438

88,438

Other components of equity

1,137,074

39,299

Equity attributable to equity holders of the parent

26,875,104

24,632,018

Non-controlling interests

6,904,654

5,562,018

Total equity

33,779,758

30,194,036

Non-current liabilities

Interest - bearing loans and borrowings

1,892,069

1,854,804

Lease liabilities on Right-of-use Assets

3,345,641

3,453,184

Insurance provision

2,710,262

2,906,873

Provisions

200,634

196,451

Government grants

494,031

492,804

Employee benefit liabilities

2,504,137

2,561,214

Deferred tax liabilities

2,665,156

2,619,872

13,811,930

14,085,203

Current liabilities

Trade and other payables

15,086,801

13,132,327

Public Deposits

10,081,951

10,332,211

Interest - bearing loans and borrowings

3,296,404

1,790,265

Lease liabilities on Right of use assets

1,040,898

944,463

Income tax payable

968,663

330,698

Short term borrowings

21,596,272

22,108,494

52,070,991

48,638,458

Total liabilities

65,882,921

62,723,661

Total equity and liabilities

99,662,679

92,917,697

Net Assets Per Share (Rs.)

13.21

12.10

I certify that the financial statements comply with the requirements of the Companies Act No. 7 of 2007

Sudheera Epitakumbura

Head of Finance

The Board of Directors is responsible for the preparation and presentation of these financial statements.

Jayatissa De Costa

W J V P Perera

Director

Director

Unaudited

Audited

As at

As at

31st December

31st March

2024

2024

As at

Rs. '000

Rs. '000

Assets

Non-current assets

Property, plant and equipment

281,301

282,583

Investment properties

2,717,571

2,722,879

Right-of-use Assets

118,157

156,136

Investment in subsidiaries

5,260,275

4,960,275

Other non-current financial assets

2,965,203

1,729,670

Deferred tax assets

19,545

19,546

11,362,052

9,871,089

Current assets

Inventory

1,451

2,225

Trade and other receivables

1,068,137

768,184

Amounts due from subsidiaries

6,336,807

5,825,547

Cash and short-term deposits

1,219,369

1,203,271

8,625,764

7,799,227

Total assets

19,987,816

17,670,316

Equity and liabilities

Equity

Stated capital

1,972,829

1,972,829

Revenue reserves

1,815,910

2,334,710

Other components of equity

882,722

(289,627)

Total equity

4,671,461

4,017,912

Non-current liabilities

Lease liabilities on Right-of-use Assets

147,428

226,245

Employee benefit liabilities

70,554

67,302

217,982

293,547

Current liabilities

Trade and other payables

496,920

219,690

Lease liabilities on Right-of-use Assets

98,660

75,229

Amounts due to subsidiaries

536,887

573,350

Income tax payable

1,741

1,741

Short term borrowings

13,964,165

12,488,847

15,098,372

13,358,857

Total liabilities

15,316,354

13,652,404

Total equity and liabilities

19,987,816

17,670,316

Net Assets Per Share (Rs.)

2.30

1.97

I certify that the financial statements comply with the requirements of the Companies Act No. 7 of 2007

Sudheera Epitakumbura

Head of Finance

The Board of Directors is responsible for the preparation and presentation of these financial statements.

Jayatissa De Costa

W J V P Perera

Director

Director

Unaudited

Unaudited

03 months ended

03 months ended

09 months ended

09 months ended

31st December

31st December

Variance

31st December

31st December

Variance

2024

2023

2024

2023

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Continuing operations

Revenue from contracts with customers

18,745,742

18,413,316

2%

54,340,371

52,324,673

4%

Revenue from insurance contracts

572,128

487,609

17%

1,398,028

1,498,364

-7%

Interest Revenue

658,497

633,537

4%

1,930,735

1,904,312

1%

Total Revenue

19,976,367

19,534,462

57,669,134

55,727,349

Cost of sales

(14,688,574)

(14,963,668)

-2%

(42,258,757)

(43,185,764)

-2.1%

Gross profit

5,287,793

4,570,794

16%

15,410,377

12,541,586

23%

Other operating income

475,030

414,370

15%

1,252,932

1,343,253

-7%

Selling and distribution expenses

(1,315,377)

(1,104,899)

19%

(3,474,252)

(2,950,441)

18%

Administrative expenses

(2,317,369)

(2,410,309)

-4%

(7,070,277)

(7,107,577)

-1%

Other operating expenses

(92,122)

(16,588)

455%

(147,053)

(112,010)

31%

Operating profit

2,037,955

1,453,369

40%

5,971,728

3,714,811

61%

Finance costs

(580,806)

(570,508)

2%

(1,575,865)

(2,621,083)

-40%

Finance Income

322,049

116,257

177%

896,968

1,081,849

-17%

Share of profit of an associate

27,248

14,131

93%

110,767

105,950

5%

Profit before tax from continuing operations

1,806,447

1,013,249

78%

5,403,598

2,281,529

137%

Income tax expense

(707,166)

(340,767)

108%

(1,669,177)

(847,324)

97%

Profit for the period from continuing operations

1,099,281

672,481

63%

3,734,421

1,434,205

160%

Discontinued operations

Loss after tax for the period from discontinued operations

(304)

(861)

-65%

(1,798)

(1,901)

-5%

Profit for the period

1,098,977

671,620

64%

3,732,623

1,432,304

161%

Attributable to:

Equity holders of the parent

912,212

527,744

73%

3,082,205

937,770

229%

Non-controlling interests

186,765

143,876

30%

650,418

494,534

32%

1,098,977

671,620

3,732,623

1,432,304

Earnings per share

Basic (Rs.)

0.45

0.26

1.51

0.46

Diluted (Rs.)

0.45

0.26

1.51

0.46

Unaudited

Unaudited

03 months ended

03 months ended

09 months ended

09 months ended

31st December

31st December

Variance

31st December

31st December

Variance

2024

2023

2024

2023

Rs.'000

Rs.'000

%

Rs.'000

Rs.'000

%

Profit for the period

1,098,977

671,620

64%

3,732,623

1,432,304

161%

Other comprehensive income

Other comprehensive income/(loss) to be reclassified to profit

or loss in subsequent periods;

Net Profit/ loss on financial assets at FVOCI

(79,945)

(13,282)

502%

(64,435)

131,204

-149%

Fair value movement of Fair value reserve of financial assets at

FVOCI transferred to life fund

79,945

13,282

502%

64,435

(131,204)

-149%

Exchange differences on translation of foreign operations

(27,746)

2,425

-1244%

(31,145)

(14,034)

122%

Net other comprehensive income to be reclassified to profit or loss

(27,746)

2,425

(31,145)

(14,034)

Other comprehensive income/(loss) not to be reclassified to profit or loss;

Net gain/(loss) on Financial Assets at FVOCI

828,190

(107,239)

-872%

1,106,213

698,423

58%

Net other comprehensive income/(loss) not to be reclassified to profit or loss

828,190

(107,239)

1,106,213

698,423

Other comprehensive income/(loss) for the period, net of tax

800,444

(104,814)

-864%

1,075,068

684,389

57%

Total comprehensive income for the period, net of tax

1,899,421

566,806

235%

4,807,691

2,116,693

127%

Attributable to:

Equity holders of the parent

1,734,311

403,174

330%

4,179,978

1,622,160

158%

Non-controlling interests

165,110

163,632

1%

627,713

494,533

27%

1,899,421

566,806

4,807,691

2,116,693

Figures in brackets indicate deductions.

(0)

The above figures are subject to audit.

Unaudited

Unaudited

03 months ended

03 months ended

09 months ended

09 months ended

31st December

31st December

Variance

31st December

31st December

Variance

2024

2023

2024

2023

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Revenue from contracts with customers

681,634

526,972

29%

1,812,407

1,757,951

3%

100%

100%

Other revenue

-

689

67,280

5,427

Cost of sales

-

-

-

-

Gross profit

681,634

527,660

29%

1,879,687

1,763,379

7%

Other operating income

4,600

1,077

100%

21,065

184,710

-89%

Administrative expenses

(125,571)

(140,160)

-10%

(415,045)

(385,685)

8%

Other operating expenses

(10,696)

(518)

(23,192)

(21,955)

6%

Operating profit

549,967

388,059

42%

1,462,515

1,540,448

-5%

Finance costs

(311,170)

(406,969)

-24%

(839,376)

(1,426,545)

-41%

Finance Income

25,802

26,727

-3%

79,084

120,689

-34%

Profit before tax

264,599

7,816

3285%

702,223

234,592

199%

Income tax expense

-

-

-

-

(2,000)

-100%

Profit for the period

264,599

7,816

3285%

702,223

232,592

202%

Earning per share

Basic (Rs.)

0.13

0.004

0.35

0.11

Diluted (Rs.)

0.13

0.004

0.35

0.11

Unaudited

Unaudited

03 months ended

03 months ended

09 months ended

09 months ended

31st December

31st December

Variance

31st December

31st December

Variance

2024

2023

2024

2023

Rs. '000

Rs. '000

%

Rs. '000

Rs. '000

%

Profit for the period

264,599

7,817

3285%

702,223

232,592

202%

Other comprehensive Profit/ Loss

Other comprehensive Profit/Loss not to be reclassified to profit or loss;

Net gain/(loss) on equity instruments at FVOCI

904,898

(93,440)

-1068%

1,172,350

570,550

105%

Net other comprehensive gain/(loss) not to be reclassified to profit or loss

904,898

(93,440)

1,172,350

570,550

Other comprehensive gain/(loss) for the period, net of tax

904,898

(93,440)

-1068%

1,172,350

570,550

105%

Total comprehensive income for the period, net of tax

1,169,497

(85,623)

-1466%

1,874,573

803,142

133%

Group

Company

Unaudited

Unaudited

Unaudited

Unaudited

2024

2023

2024

2023

For the Nine months ended 31st December

Rs. '000

Rs. '000

Rs. '000

Rs. '000

Cash flows from/(used in) operating activities

Profit before tax and non controlling interests from

continuing operations

5,403,598

2,281,528

702,223

234,592

Loss after tax from discontinued operation

(1,798)

(1,901)

-

-

Adjustments to reconcile profit before tax to net cash flows

1,442,104

2,726,015

841,978

1,401,660

Operating profit before working capital changes

6,843,903

5,005,642

1,544,201

1,636,252

Working capital adjustments

(2,075,097)

3,103,616

(646,416)

(633,003)

Cash generated from operations

4,768,806

8,109,259

897,785

1,003,249

Interest paid

(1,575,865)

(2,621,083)

(839,376)

(1,426,545)

Gratuity paid

(107,873)

(107,334)

(5,748)

(7,665)

Interest received

896,968

1,081,849

79,084

120,689

Income tax paid

(1,207,445)

(1,629,032)

-

(76,466)

Net cash from/(used in) operating activities

2,774,590

4,833,659

131,745

(386,738)

Net cash flows used in investing activities

(2,303,800)

(2,913,673)

(303,866)

(185,941)

Net cash flows/(used in) before financing activities

470,789

1,919,987

(172,121)

(572,679)

Net cash flows used in financing activities

1,335,686

(1,863,792)

(1,287,099)

(1,083,520)

Net increase/(decrease) in cash and cash equivalents

1,806,475

56,195

(1,459,220)

(1,656,199)

Net foreign exchange difference

-

-

-

-

Cash and cash equivalents at the beginning of the period

(9,192,656)

(9,067,851)

(11,285,576)

(9,129,833)

Cash and cash equivalents at the end of the period

(7,386,181)

(9,011,656)

(12,744,796)

(10,786,032)

Analysis of cash and cash equivalents at the end of the period

Bank and cash balances

14,210,091

11,679,974

1,219,369

1,224,861

Short term borrowings

(21,596,272)

(20,691,630)

(13,964,165)

(12,010,893)

(7,386,181)

(9,011,656)

(12,744,796)

(10,786,032)