SUNSHINE HOLDINGS PLC
CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS
FOR THE QUARTER ENDED
30th June 2024
SUNSHINE HOLDINGS PLC
GROUP CHIEF EXECUTIVE OFFICER'S MESSAGE
Dear Shareholder,
The Group sustained its positive momentum, recording a consolidated revenue of LKR 14.2 billion for the quarter ended 30th June 2024 (1QFY25). This reflects robust quarter-on-quarter growth across all three sectors, and a year-on-year (YoY) growth of 6.5%. Healthcare was the highest contributor with 53.1%, followed by Consumer Brands at 32.4%, and Agribusiness at 14.5%.
Building on the average gross profit margin trend in FY24, the margin remained at 29% in 1QFY25, reflecting an improvement of 7.0% YoY. This growth was primarily driven by margin expansion in the pharmaceutical agency and pharmaceutical manufacturing businesses.
Following the performance improvement in the healthcare segment, the Group reported a profit after tax (PAT) of LKR 1.4 billion for 1QFY25, reflecting a 3.6% decrease YoY compared to the same period last year. Profit attributable to equity shareholders (PATMI) closed at LKR 936 million for 1QFY25, an increase of 2.3% YoY.
Financial Snapshot
Healthcare | 1QFY25 | Vs 1QFY24 | Vs 4QFY24 | ||
7,563 | 19.8% | 12.3% | |||
Consumer | 4,609 | -1.9% | 2.6% | ||
Agri | 2,065 | -12.4% | 12.4% | ||
Other | 2 | - | -97.6% | ||
Revenue | 14,2 39 | 6.5% | 8.3% | ||
Gross Profit | 4,132 | 7.0% | 17.5% | ||
GP Margin | 29.0% | 0.1% | 5.1% | ||
EBIT | 2,073 | 2.9% | 63.5% | ||
EBIT Margin | 14.6% | -0.5% | 51.0% | ||
Net Finance Cost | (25) | -83.1% | -91.9% | ||
Income Tax Expense | (673) | 53.7% | 72.1% | ||
PAT | 1,376 | -3.6% | 141.4% |
Healthcare
Healthcare sector revenue for 1QFY25 grew 19.8% YoY, primarily driven by topline improvements in both the pharmaceutical agency and pharmaceutical manufacturing businesses.
The improvement in EBIT for the Healthcare sector can be attributed to higher capacity utilization in the pharmaceutical manufacturing business and volume growth in the pharmaceutical agency business. However, this positive impact was partially offset by margin contraction in the medical devices segment, due to the absence of one-off tender sales witnessed during the 1QFY24 period.
The pharmaceutical segment's revenue grew by 14.1% YoY, driven by a significant volume growth during the period. In contrast, the medical devices segment saw a contraction of 20.4% YoY due to the lack of one-off tender sales in 1QFY25
The retail segment, Healthguard Pharmacy, witnessed a 10.2% YoY increase in revenue, fueled by improvements in both value and volume. Within retail, the pharmaceutical category recorded growth in both value and volume, the wellness category experienced value growth despite a decline in volume.
Lina, the pharmaceutical manufacturing business, achieved a remarkable revenue growth of 104.4% YoY, driven by increased capacity utilization at the Metered Dose Inhaler (MDI) plant. To date, Lina has already supplied more than half of the MDI requirements for the Medical Supplies Division of the Govern- ment.
Consumer Brands
The Consumer Brands sector, encompassing both export and domestic businesses, reported revenue of LKR 4.6 billion in 1QFY25, representing a marginal decrease of 1.9% YoY. Howev- er, the segment showed an improvement of 2.6% YoY compared to the trailing quarter which is more comparable post the changes to the VAT structure in January 2024.
Revenue from the Branded Tea and Confectionery businesses declined by 16.9% YoY, primarily due to a drop in sales volume during the period. The branded tea segment reported a value growth of 5.1% YoY and a volume contraction of 4.3% YoY in 1QFY25.
Despite challenging consumer sentiment, the tea brands Watawala Thei and Ran Kahata demonstrated resilience with mid teen volume growth YoY, despite Zesta experiencing a volume contraction during the quarter. This decline was inten- sified by a 37.1% YoY revenue contraction in the confectionery segment, driven by a 36.0% YoY volume contraction as this impulse category was affected by poor consumer sentiment post VAT increases.
Conversely, the performance of the export business offset these impacts. The recovery of export volumes, driven by heightened demand from key clients and a reduction in tea prices, resulted in a 31.1% increase in revenue for the export business.
Given the favorable tea cost last year and the company's partial absorption of VAT, EBIT margins witnessed a significant reduction to 3.7% compared to 6.8% in the same period last year.
Following the performance impact on the branded business, the PAT margin for the Consumer sector declined to 2.0% compared to 3.8% in the same quarter last year. This adverse impact was partially mitigated by growth in the export business.
Agribusiness
The Agribusiness sector reported revenue of LKR 2.1 billion in 1QFY25, reflecting a 12.1% YoY contraction, stemming from a 13.8% YoY contraction in the palm oil business.
The top line of the palm oil segment was impacted by the reduction in palm oil prices in 1QFY25. This resulted in a reduction of the gross profit margin to 52.6% in 1QFY25, compared to 56.5% in 1QFY24. The business achieved a net profit margin of 32% for the period ending 1QFY25, reflecting a 740bps decrease compared to the same period last year due to the change into applicable taxation rates.
The dairy business recorded a revenue of LKR 326 million cf. LKR 340 million during the same period last year. The recovery of milk production volumes and reduction in cost of feed resulted in the dairy business recording a PAT margin of 8.2% in 1QFY25, compared to negative 12.8% in the same period last year. The farm had a herd strength of 1,683 of which 735 were milking cows at end June 2024.
Page 01
Outlook
Despite positive signs in the broader macro economy, the average consumer's disposable income remains constrained due to various adjustments in direct and indirect taxes, as well as income growth being lower than inflation over the last 2-year period. The Group remains confident in its ability to navigate challenges and sustain resilience in the upcoming quarters.
In Healthcare we are closely monitoring the changes in the exchange rate, which is sensitive to our margins. The Healthcare Sector will prioritize ensuring accessible and high-quality healthcare products. We will place strong emphasis on both organic and inorganic growth within our core focus areas to capitalize on opportunities in the healthcare space. The proposed investment by International Finance Corporation (IFC) into Sunshine Healthcare Lanka (SHL) is poised to scale up SHL's operations significantly, from expanding our local manufacturing with Lina to enhancing our diagnostic capabili- ties, distribution network, and retail presence.
The Consumer sector will continue to face challenges owing to macroeconomic pressures on consumer purchasing power. While the export business remains a key focus area for the group, we will continue to invest behind our consumer brands and drive distribution synergies in the retail channels to maintain our market presence.
In the Agribusiness sector, we expect palm oil prices to remain stable in the near term, in line with global pricing, while crop volumes are expected to gradually increase due to the increase in yield from the maturity of young fields. Meanwhile, the milk yield is expected to remain steady, and feed costs are expected to decrease in the coming quarters.
Further details of the Group's performance are available on the company website. (https://www.sunshineholdings.lk/investor/- financial-reports)
Shyam Sathasivam
Group Chief Executive Officer
02nd August 2024
Colombo
Page 02
SUNSHINE HOLDINGS PLC
CONDENSED STATEMENT OF COMPREHENSIVE INCOME - GROUP
Unaudited | *Re-classified | As Previously Reported | |||||
Period ended | Period ended | Period ended | |||||
30th June 2024 | 30th June 2023 | 30th June 2023 | Change | ||||
RS '000 | RS '000 | RS '000 | % | ||||
Continuing operations | |||||||
Revenue | 14,239,319 | 13,369,745 | 13,370,441 | 7 | |||
Cost of sales | (10,107,404) | (9,508,689) | (9,411,903) | 6 | |||
Gross profit | 4,131,915 | 3,861,056 | 3,958,539 | 7 | |||
Dividend Income | 38,301 | 696 | - | NM | |||
Other income | 57,765 | 123,895 | 123,896 | (53) | |||
Selling & distribution expenses | (1,259,240) | (1,153,802) | (1,153,802) | 9 | |||
Administration expenses | (895,376) | (817,191) | (913,978) | 10 | |||
Results from operating activities | 2,073,365 | 2,014,654 | 2,014,655 | 3 | |||
Finance income | 204,744 | 388,074 | 388,074 | (47) | |||
Finance cost | (229,683) | (535,858) | (535,858) | (57) | |||
Net finance cost | (24,939) | (147,784) | (147,784) | (83) | |||
Brand Amortisation | - | (739) | (739) | 100 | |||
Profit before tax | 2,048,426 | 1,866,131 | 1,866,132 | 10 | |||
Income tax expense | (672,504) | (437,944) | (437,944) | 54 | |||
Profit for the period | 1,375,922 | 1,428,187 | 1,428,187 | (4) | |||
Exchange gain/(Loss) on foreign | |||||||
operation translation | 239 | (2,690) | (2,690) | (109) | |||
Total other comprehensive income | |||||||
for the period | 239 | (2,690) | (2,690) | (109) | |||
Total comprehensive income for | |||||||
the period | 1,376,161 | 1,425,497 | 1,425,497 | (3) | |||
Profit attributable to: | |||||||
Owners of the parent company | 935,722 | 914,482 | 914,482 | 2 | |||
Non-controlling interest | 440,200 | 513,706 | 513,706 | (14) | |||
Other comprehensive income attributable to: | |||||||
Owners of the parent company | 239 | (2,690) | (2,690) | (109) | |||
Total comprehensive income for | 1,376,161 | 1,425,497 | 1,425,497 | (3) | |||
the period | |||||||
Basic earnings per share | 1.90 | 1.86 | 1.86 | ||||
Figures in brackets indicate deductions. |
The above figures are not audited NM - Not Meaningful
* 2024 Figures have been reclassified according to SLFRS 15 as a result of the business module change. Detailed note has provided in Note no 06.
Page 03
SUNSHINE HOLDINGS PLC
CONDENSED STATEMENT OF
COMPREHENSIVE INCOME - COMPANY
As Previously | |||||||
Unaudited | *Re-classified | Reported | |||||
Period ended | Period ended | Period ended | |||||
30th | June 2024 | 30th June 2023 | 30th June 2023 | Change | |||
RS '000 | RS '000 | RS '000 | % | ||||
Revenue | 166,811 | 105,778 | 213,196 | 58 | |||
Cost of sales | (152,889) | (96,787) | - | 58 | |||
Gross profit | 13,922 | 8,991 | 213,196 | 55 | |||
Dividend income | 534,701 | 213,196 | - | 151 | |||
Other income | 16,092 | (562) | 105,217 | (2,964) | |||
Administration expenses | (98,983) | (52,611) | (149,398) | 88 | |||
Results from operating activities | 465,732 | 169,014 | 169,014 | 176 | |||
Finance income | 28,014 | 51,534 | 51,534 | (46) | |||
Finance cost | (1,816) | (692) | (692) | 162 | |||
Net finance cost | 26,198 | 50,842 | 50,842 | (48) | |||
Profit before tax | 491,930 | 219,856 | 219,856 | 124 | |||
Income tax expense | 7,187 | 3,269 | 3,269 | 120 | |||
Profit for the period | 499,117 | 223,125 | 223,125 | 124 | |||
Other comprehensive income | - | - | - | - | |||
Total other comprehensive income for the period | - | - | - | - | |||
Total comprehensive income for the period | 499,117 | 223,125 | 223,125 | 124 | |||
Basic earnings per share from continuing operations | 1.01 | 0.50 | 0.50 | ||||
Figures in brackets indicate deductions. |
- 2024 Figures have been reclassified according to SLFRS 15 as a result of the business module change. Detailed note has provided in Note no 06.
Page 04
SUNSHINE HOLDINGS PLC
STATEMENT OF FINANCIAL POSITION - GROUP
Unaudited | Audited | ||
As at 30th June 2024 | As at 31st March 2024 | ||
RS '000 | RS '000 | ||
ASSETS | |||
Non current assets | |||
Property, plant and equipment | 6,750,012 | 6,641,907 | |
Intangible assets | 264,860 | 277,903 | |
Leasehold right to bare land | 434,772 | 359,851 | |
Biological assets | 3,643,588 | 3,658,653 | |
Investment property | 634,906 | 631,212 | |
Other investments | 804,986 | 833,617 | |
Deferred tax assets | 368,678 | 420,127 | |
Goodwill on Acquisition | 1,387,106 | 1,387,106 | |
Total non-current assets | 14,288,908 | 14,210,376 | |
Current assets | |||
Biological assets-growing crops on bearer plants | 70,867 | 70,867 | |
Inventories | 12,684,616 | 12,063,288 | |
Other investments | 2,762,143 | 1,770,256 | |
Current tax assets | 136,108 | 139,136 | |
Trade & other receivables | 13,449,216 | 9,782,520 | |
Amounts due from related parties | 232,049 | 31,747 | |
Cash & cash equivalent | 3,813,367 | 5,403,789 | |
Total current assets | 33,148,366 | 29,261,603 | |
Total assets | 47,437,274 | 43,471,979 | |
EQUITY AND LIABILITIES | |||
Equity | |||
Stated capital | 4,240,394 | 4,240,394 | |
Reserves | 430,712 | 430,473 | |
Retained earnings | 13,934,116 | 14,233,958 | |
Equity attributable to owners of the company | 18,605,222 | 18,904,825 | |
Non-controlling interests | 3,878,357 | 3,767,868 | |
Total equity | 22,483,579 | 22,672,693 | |
Non-current liabilities | |||
Loans and borrowings | 1,852,062 | 1,676,016 | |
Employee benefits | 1,031,196 | 1,009,377 | |
Deferred income and capital grants | 36,137 | 36,726 | |
Deferred tax | 1,709,284 | 1,686,737 | |
Total non-current liabilities | 4,628,679 | 4,408,856 | |
Current liabilities | |||
Trade and other payables | 12,698,410 | 7,603,511 | |
Amounts due to related parties | 13,000 | - | |
Current tax liabilities | 980,874 | 785,681 | |
Loans and borrowings | 4,884,058 | 5,311,993 | |
Bank overdraft | 1,748,674 | 2,689,245 | |
Total current liabilities | 20,325,016 | 16,390,430 | |
Total equity and liabilities | 47,437,274 | 43,471,979 | |
Net asset value per share (Rs.) | 37.82 | 38.43 | |
Figures in brackets indicate deductions. | |||
The above 30th June 2024 figures are not audited |
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Group Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these financial statements. Approved and signed for and on behalf of the Board,
Chairman | Group Chief Executive Officer |
August 02nd, 2024 | |
Colombo |
Page 05
SUNSHINE HOLDINGS PLC
STATEMENT OF FINANCIAL POSITION - COMPANY
Unaudited | Audited | ||
As at 30th June 2024 | As at 31st March 2024 | ||
RS '000 | RS '000 | ||
ASSETS | |||
Non-current assets | |||
Property, Plant and Equipment | 70,295 | 8,652 | |
Intangible assets | 13,173 | 14,490 | |
Investment in subsidiaries | 7,747,699 | 7,747,698 | |
Other investments | 786,338 | 782,224 | |
Deferred tax assets | 38,790 | 31,602 | |
Total non-current assets | 8,656,295 | 8,584,666 | |
Current assets | |||
Inventories | 296 | 296 | |
Current tax assets | 75,566 | 75,566 | |
Trade & other receivables | 124,303 | 44,017 | |
Amounts due from related parties | 368,812 | 257,990 | |
Other Short Term Investments | 1,255,473 | 846,226 | |
Cash & cash equivalent | 759,113 | 723,291 | |
Total current assets | 2,583,563 | 1,947,386 | |
Total assets | 11,239,858 | 10,532,052 | |
EQUITY AND LIABILITIES | |||
Equity | |||
Stated capital | 4,240,394 | 4,240,394 | |
Reserves | 430,590 | 430,590 | |
Retained earnings | 5,087,689 | 5,572,519 | |
Total equity | 9,758,673 | 10,243,503 | |
Non-current liabilities | |||
Loans and borrowings | 28,765 | - | |
Employee benefits | 199,922 | 190,922 | |
Total non-current liabilities | 228,687 | 190,922 | |
Current liabilities | |||
Trade and other payables | 1,235,264 | 97,345 | |
Amounts due to related parties | 677 | 282 | |
Loans and borrowings | 16,557 | - | |
Total current liabilities | 1,252,498 | 97,627 | |
Total equity and liabilities | 11,239,858 | 10,532,052 | |
Net asset value per share (Rs.) | 19.84 | 20.82 | |
Figures in brackets indicate deductions. | |||
The above 30th June 2024 figures are not audited |
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Group Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Approved and signed for and on behalf of the Board.
Chairman | Group | fficer |
August 02nd, 2024 | ||
Colombo |
Page 06
SUNSHINE HOLDINGS PLC
FOR THE QUARTER ENDED 30TH JUNE 2024
CONDENSED STATEMENT OF CHANGES IN EQUITY - GROUP | Attributable to owners of the company | ||||||||||
Reserve on | Total | ||||||||||
In RS '000 | Stated | exchange gain or | General | Retained | Total | Non-controlling | |||||
capital | loss | reserve | on AFS | earnings | interest | equity | |||||
Balance as at 1st April 2023 | 4,240,394 | 4,935 | 1,258 | 185,609 | 11,356,302 | 15,788,499 | 3,448,610 | 19,237,110 | |||
Total Comprehensive Income | |||||||||||
Profit for three months | - | - | - | - | 914,482 | 914,482 | 513,706 | 1,428,187 | |||
Total other comprehensive income for three months | - | (2,690) | - | - | - | (2,690) | - | (2,690) | |||
Total comprehensive income for three months | - | (2,690) | - | - | 914,482 | 911,792 | 513,706 | 1,425,497 | |||
Dividend paid to owners for 2022/23 | - | - | - | - | (565,770) | (565,770) | (188,406) | (754,176) | |||
WHT payment on dividend distribution | - | - | - | - | (84,362) | (84,362) | (46,862) | (131,224) | |||
Balance as at 30th June 2023 | 4,240,394 | 2,245 | 1,258 | 185,609 | 11,620,652 | 16,050,159 | 3,727,048 | 19,777,206 | |||
Total Comprehensive Income | |||||||||||
Profit for the nine months | - | - | - | - | 3,556,559 | 3,556,559 | 1,034,500 | 4,591,060 | |||
Total other comprehensive income for the nine months | - | (645) | - | 242,006 | - | 241,360 | (6,785) | 234,575 | |||
Total comprehensive income for nine months | - | (645) | - | 242,006 | 3,556,559 | 3,797,920 | 1,027,715 | 4,825,635 | |||
Dividend paid to owners for 2023/24 | - | - | - | - | (491,974) | (491,974) | (1,176,813) | (1,668,786) | |||
WHT payment on dividend distribution | - | - | - | - | (354,362) | (354,362) | - | (354,362) | |||
Lina Manufacturing (Pvt) Ltd and Lina Spiro (Pvt) Ltd Share Swap | - | - | - | - | (96,918) | (96,918) | 189,918 | 93,000 | |||
- | (645) | - | 242,006 | 2,613,306 | 2,854,666 | 40,820 | 2,895,487 | ||||
Balance as at 31st March 2024 | 4,240,394 | 1,600 | 1,258 | 427,615 | 14,233,958 | 18,904,825 | 3,767,868 | 22,672,693 | |||
Balance as at 1st April 2024 | 4,240,394 | 1,600 | 1,258 | 427,615 | 14,233,958 | 18,904,825 | 3,767,868 | 22,672,693 | |||
Total Comprehensive Income | - | - | - | - | |||||||
Profit for three months | 935,722 | 935,722 | 440,200 | 1,375,922 | |||||||
Total other comprehensive income for three months | 239 | 239 | 239 | ||||||||
Total comprehensive income for three months | - | 239 | - | - | 935,722 | 935,961 | 440,200 | 1,376,161 | |||
- | - | - | |||||||||
Dividend paid to owners for 2023/24 | - | - | - | (983,947) | (983,947) | (280,254) | (1,264,202) | ||||
WHT payment on dividend distribution | - | - | - | - | (251,617) | (251,617) | (49,457) | (301,074) | |||
Balance as at 30th June 2024 | 4,240,394 | 1,839 | 1,258 | 427,615 | 13,934,116 | 18,605,222 | 3,878,357 | 22,483,579 |
The above 30th June 2024 figures are not audited
Page 07
SUNSHINE HOLDINGS PLC
FOR THE QUARTER ENDED 30TH JUNE 2024
STATEMENT OF CHANGES IN EQUITY - COMPANY | Stated | Fair value | General | Retained | ||
In RS '000 | capital | reserve | reserve | earnings | Total | |
Balance as at 1st April 2023 | 4,240,394 | 183,012 | 4,638,236 | 9,062,900 | ||
Total comprehensive income for the period | ||||||
Profit for the three months | - | - | - | 223,125 | 223,125 | |
Total other comprehensive income for the three months | - | - | - | - | - | |
Total comprehensive income for the year | - | - | - | 223,125 | 223,125 | |
Dividend to owners - 2022/23 | (565,770) | (565,770) | ||||
Balance as at 30th June 2023 | 4,240,394 | 183,012 | 1,258 | 4,295,591 | 8,720,255 | |
Total comprehensive income for the period | ||||||
Profit for the nine months | 1,768,902 | 1,768,902 | ||||
Total other comprehensive income for the nine months | 246,320 | 246,320 | ||||
Total comprehensive income for nine months | - | 246,320 | - | 1,768,902 | 2,015,221 | |
Dividend to owners - 2022/23 | (491,974) | (491,974) | ||||
Balance as at 31st March 2024 | 4,240,394 | 429,332 | 1,258 | 5,572,519 | 10,243,503 | |
Balance as at 1st April 2024 | 4,240,394 | 429,332 | 1,258 | 5,572,519 | 10,243,503 | |
Total comprehensive income for the period | ||||||
Profit for the nine months | 499,117 | 499,117 | ||||
Total other comprehensive income for the nine months | ||||||
Total comprehensive income for the nine months | 499,117 | 499,117 | ||||
Dividend to owners - 2023/24 | (983,947) | (983,947) | ||||
Balance as at 30th June 2024 | 4,240,394 | 429,332 | 1,258 | 5,087,689 | 9,758,673 | |
The above figures are not audited |
Page 08
SUNSHINE HOLDINGS PLC | Unaudited | Audited |
STATEMENT OF CASH FLOWS - GROUP | Quarter ended | Year ended |
30th June 2024 | 31st March 2024 | |
RS '000 | RS '000 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Profit before income tax | 2,048,426 | 8,071,886 |
Adjustments for; | (525,313) | |
Interest Income | (106,758) | |
Profit on Disposal of Property, Plant & Equipment | (474) | 2,221 |
Fair value changes in livestock | - | (29,431) |
Interest Expense | 190,159 | 980,115 |
Depreciation of Property, Plant and Equipment | 198,594 | 771,098 |
Amortization of Intangible Assets | 18,560 | 92,214 |
Depreciation of mature planations | 43,648 | 179,312 |
Provision/(Reversal) for Bad and Doubtful Debts | 343,458 | 318,629 |
Provision/ (Reversal) of impairment of inventories | 58,543 | 103,939 |
Amortisation of Deferred Income | (590) | (2,358) |
Amortization of Lesehold land right | 5,219 | 17,536 |
Fair value gain/loss on investments | 7,294 | 6,352 |
Provision for Gratuity excluding acturial gain/loss | 39,000 | 235,618 |
Fair value gain/loss on Consumer Biological Assets | - | (10,558) |
Operating profit before working capital changes | 2,845,080 | 10,211,259 |
(Increase)/decrease in inventories | (679,871) | (2,306,107) |
(Increase)/decrease in trade and other receivables | (4,010,154) | (2,208,854) |
(Increase)/decrease in amounts due from related parties | (200,301) | 117,693 |
Increase/(decrease) in trade and other payables | 5,094,905 | 1,179,565 |
Increase/(decrease) in amounts due to related parties | 12,999 | (55,000) |
Cash generated from/ (used in) operations | 3,062,658 | 6,938,556 |
Interest paid | (131,442) | (494,687) |
Income tax paid | (701,413) | (2,226,548) |
Gratuity paid | (17,183) | (133,626) |
Net cash generated from / (used in) Operating activities | 2,212,619 | 4,083,695 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Interest Received | 106,758 | 525,313 |
(Investments)/ Disposal in Other Investments | (11,696) | 882,237 |
(Investments)/ Disposal in Short term Investments | (991,886) | (1,540,386) |
(Investments)/ Disposal in gratuity fund | 33,000 | 9,000 |
Additions to Bearer plants | (11,329) | (36,021) |
Additions of live stock | (37,982) | (306,209) |
Acquisition of PPE | (299,836) | (709,789) |
Acquisition of Intangible Assets | (5,517) | (21,006) |
Proceeds from Disposal of PPE | (6,391) | 30,121 |
Proceeds from sales of livestock | 21,086 | 63,122 |
Disposal of Shares held in Subsidiary | - | 93,000 |
Acquisition of Investment property | (3,693) | (3,685) |
Net cash generated from / (used in) Investing activities | (1,207,488) | (1,014,303) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Receipts of Interest Bearing Borrowings | 6,691,506 | 4,195,897 |
Repayments of Interest Bearing Borrowings | (7,136,161) | (2,958,226) |
Payment to lease creditor | 53,906 | (167,853) |
Dividend Paid | (1,264,202) | (2,422,963) |
Net cash from / (used in) financing activities | (1,654,950) | (1,353,145) |
Net increase/(decrease) in cash and cash equivalents | (649,818) | 1,716,247 |
Cash and cash equivalents at the beginning of the period | 2,714,270 | 1,001,633 |
Effect of exchange rate changes on cash and cash equivalents | 239 | (3,335) |
Cash and cash equivalents at the end of the period | 2,064,693 | 2,714,545 |
Cash and cash equivalents | ||
Cash in hand & bank | 3,813,367 | 5,403,789 |
Bank overdraft | (1,748,674) | (2,689,245) |
Figures in brackets indicate deductions. | 2,064,693 | 2,714,545 |
The above 30th June 2024 figures are not audited
Page 09
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