Period Ended 31 March 2025
Review of the Financials
Teejay Group closed the financial year 2024/25 with a Profit after tax of LKR 2.8 billion, marking a substantial 152% year-on-year growth. This outstanding performance was fueled by the swift execution of strategic initiatives, efficient inventory management, effective cost optimization measures, and the agility afforded through the multinational footprint, which enabled to leverage location-specific advantages. |
The Group reported a revenue of LKR 67 billion for the year ended 31st March, marking a 10% year-on-year increase. This growth was driven by a favorable sales mix and increased demand, achieved despite market challenges and the appreciation of the Rupee against the US Dollar. |
At the same time, it is notable that the global shift in order flows towards Asia, encouraged by the China plus one strategy, is opening up new opportunities to leverage strategic presence in Sri Lanka and India. |
The Group has recorded a Gross Profit of LKR 7.9 billion, a 56% increase compared to the same period last year. This significant growth has been largely driven by the continued stability in yarn prices and a favorable product mix, both of which have positively impacted the Group's topline and its overall profitability. |
Distribution expenses have increased by 7% compared to the same period last year. This rise is primarily attributed to the significant growth in volumes seen for the period under review. |
Furthermore, the Group concluded the period with a balance sheet and a healthy cash balance of LKR 9.6 billion. Despite the appreciation of the Rupee against the US Dollar, the Group achieved a net asset base of LKR 31.5 billion. Additionally, the net asset value per share increased from LKR 42.04 to LKR 43.70. |
Despite the volatilities in the market, Teejay will continue to explore opportunities for growth by discovering new business and evaluate the potential of capturing new international markets.
Statement of Profit or Loss |
(All amounts in Sri Lanka Rupees Thousands) |
Group | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Revenue from contracts with customers | 17,247,862 | 15,254,331 | 13% | 67,036,057 | 60,733,952 | 10% |
Cost of sales | (14,772,330) | (13,752,961) | -7% | (59,122,547) | (55,677,311) | -6% |
Gross profit 2,475,532 1,501,370 65% 7,913,510 5,056,641 56% |
Other operating income - net 236,283 53,285 343% 521,002 203,167 156% |
Distribution expenses | (160,888) | (181,781) | 11% | (622,978) | (579,776) | -7% |
Administrative expenses | (720,679) | (637,570) | -13% | (3,004,706) | (2,589,737) | -16% |
Net impairment gain/(loss) on financial assets | (374,566) | (87,420) | 328% | (250,307) | 122,903 | -304% |
Results from operating activities | 1,455,682 | 647,884 | 125% | 4,556,521 | 2,213,198 | 106% |
Finance income | 104,736 | (38,875) | 369% | 396,073 | 454,693 | -13% |
Finance costs | (195,135) | (222,065) | 12% | (893,561) | (1,095,512) | 18% |
Net finance income/(costs) | (90,399) | (260,940) | 65% | (497,488) | (640,819) | 22% |
Profit before tax | 1,365,283 | 386,944 | 253% | 4,059,033 | 1,572,379 | 158% |
Income tax | (465,196) | 162,189 | -387% | (1,266,267) | (462,843) | -174% |
Profit for the period 900,087 549,133 64% 2,792,766 | 1,109,536 152% |
Attributable to: | ||||||
Equity holders of the parent | 900,087 | 549,133 | 64% | 2,792,766 | 1,109,536 | 152% |
Non-controlling interest | Nil | Nil | Nil | Nil | Nil | Nil |
900,087 549,133 64% 2,792,766 1,109,536 152%
Basic earnings per share (LKR) 1.25 0.77 3.87 1.55
Statement Of Comprehensive Income |
(All amounts in Sri Lanka Rupees Thousands) |
Group | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Profit for the period Other comprehensive income | 900,087 | 549,133 | 64% | 2,792,766 | 1,109,536 | 152% | ||||
Actuarial gain/(loss) on defined benefit obligation | (141,576) | (312,478) | 55% | (141,576) | (312,478) | 55% | ||||
43,073 | 94,446 | -54% | 43,073 | 94,446 | -54% | |||||
Currency translation differences | 404,121 | (2,401,680) | 117% | (358,607) | (2,295,337) | 84% | ||||
Total other comprehensive income for the period | 305,618 | (2,619,712) | 112% | (457,110) | (2,513,369) | 82% |
Total comprehensive income for the period 1,205,705 (2,070,579) 158% 2,335,656 | (1,403,833) 266% |
Attributable to: | ||||||
Equity holders of the parent | 1,205,705 | (2,070,579) | 158% | 2,335,656 | (1,403,833) | 266% |
Non-controlling interest | Nil | Nil | Nil | Nil | Nil | Nil |
Deferred tax credit/(charge) attributable to remeasurement of |
defined benefit obligation |
1,205,705 (2,070,579) 158% 2,335,656 (1,403,833) 266%
Statement of Profit or Loss |
(All amounts in Sri Lanka Rupees Thousands) |
Company | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Revenue from contracts with customers | 9,794,603 | 9,655,925 | 1% | 38,895,177 | 38,578,691 | 1% |
Cost of sales | (8,345,133) | (8,327,939) | 0% | (33,804,585) | (33,258,507) | -2% |
Gross profit 1,449,470 1,327,986 9% 5,090,592 5,320,184 -4% |
Other operating income - net 18,934 11,645 63% 120,249 103,277 16% |
Distribution expenses | (132,212) | (95,456) | -39% | (530,316) | (394,987) | -34% |
Administrative expenses | (449,172) | (387,735) | -16% | (1,827,611) | (1,456,131) | -26% |
Net impairment gain/(loss) on financial assets | (105,723) | (18,884) | -460% | (70,813) | 129,437 | -155% |
Results from operating activities | 781,297 | 837,556 | -7% | 2,782,101 | 3,701,780 | -25% |
Finance income | 95,334 | 17,439 | 447% | 353,382 | 501,108 | -29% |
Finance costs | (36,153) | (70,091) | 48% | (190,135) | (336,786) | 44% |
Net finance income/(costs) | 59,181 | (52,652) | 212% | 163,247 | 164,322 | -1% |
Profit before tax | 840,478 | 784,904 | 7% | 2,945,348 | 3,866,102 | -24% |
Income tax | (222,506) | (256,131) | 13% | (884,248) | (1,106,910) | 20% |
Profit for the period 617,972 528,773 17% 2,061,100 2,759,192 -25% |
Basic earnings per share (LKR) 0.86 0.74 2.86 3.85 |
Statement Of Comprehensive Income |
(All amounts in Sri Lanka Rupees Thousands) |
Company | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Profit for the period | 617,972 | 528,773 | 17% | 2,061,100 | 2,759,192 | -25% |
Other comprehensive income | ||||||
Actuarial gain/(loss) on defined benefit obligation | (114,424) | (270,429) | 58% | (114,424) | (270,429) | 58% |
34,327 | 81,129 | -58% | 34,327 | 81,129 | -58% | |
Currency translation differences | 377,155 | (2,264,782) | 117% | (335,490) | (2,139,761) | 84% |
Total other comprehensive income for the period | 297,058 | (2,454,082) | 112% | (415,587) | (2,329,061) | 82% |
Total comprehensive income for the period | 915,030 | (1,925,309) | 148% | 1,645,513 | 430,131 | 283% |
Deferred tax credit/(charge) attributable to remeasurement of |
defined benefit obligation |
Statement Of Financial Position |
(All amounts in Sri Lanka Rupees Thousands) |
Group | Company | |||
As at 31 March As at 31 March | ||||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Audited | Unaudited | Audited | |
ASSETS | ||||
Non - current assets | ||||
Property, plant & equipment | 17,270,046 | 18,142,428 | 7,520,928 | 7,021,499 |
Capital work-in-progress | 334,014 | 703,359 | 274,465 | 508,793 |
Intangible assets | 433,905 | 606,388 | 327,012 | 442,191 |
Goodwill | 97,114 | 98,268 | Nil | Nil |
Investment in Subsidiaries | Nil | Nil | 5,065,841 | 5,126,027 |
Right-of-use assets | 1,575,061 | 1,681,152 | 587,208 | 629,527 |
Deferred tax assets | 1,924,752 | 2,239,540 | Nil | Nil |
Non-current receivables | 627,859 | 625,842 | 1,067,425 | 1,324,794 |
22,262,751 24,096,977 14,842,879 15,052,831
Current assets | ||||
Inventories | 11,291,594 | 11,645,818 | 7,107,450 | 7,559,901 |
Trade and other receivables | 12,247,813 | 9,773,644 | 9,540,094 | 9,489,475 |
Current Tax receivables | 750,406 | 614,466 | Nil | Nil |
Other financial assets | 4,019,419 | 1,668,451 | 3,245,207 | 1,180,819 |
Cash and cash equivalents | 5,587,658 | 7,233,344 | 4,180,267 | 6,054,353 |
33,896,890 30,935,723 24,073,018 24,284,548
Total assets | 56,159,641 | 55,032,700 | 38,915,897 | 39,337,379 |
EQUITY AND LIABILITIES | ||||
Capital and reserves | ||||
Stated capital | 4,582,871 | 4,442,234 | 4,582,871 | 4,442,234 |
Share option scheme | 186,667 | 181,691 | 186,667 | 181,691 |
Exchange equalisation reserve | 15,393,595 | 15,752,202 | 13,058,008 | 13,393,498 |
Retained earnings | 11,366,113 | 9,754,037 | 11,334,917 | 10,436,101 |
31,529,246 30,130,164 29,162,463 28,453,524
Non - current liabilities | ||||
Borrowings | 2,531,166 | 4,139,942 | Nil | Nil |
Lease liabilities | 1,192,682 | 1,229,391 | 406,467 | 437,363 |
Deferred tax liabilities | 2,153,544 | 2,213,454 | 581,273 | 700,937 |
Retirement benefit obligations | 1,122,027 | 875,378 | 709,983 | 522,388 |
6,999,419 8,458,165 1,697,723 1,660,688
Current liabilities | ||||
Trade and other payables | 12,330,528 | 10,866,322 | 6,202,637 | 5,901,919 |
Current tax liabilities | 212,637 | 281,655 | 212,637 | 281,655 |
Lease liabilities | 110,441 | 112,612 | 46,755 | 47,138 |
Borrowings | 4,977,370 | 5,183,782 | 1,593,682 | 2,992,455 |
Total liabilities | 24,630,395 | 24,902,536 | 9,753,434 | 10,883,855 |
Total equity and liabilities | 56,159,641 | 55,032,700 | 38,915,897 | 39,337,379 |
17,630,976 16,444,371 8,055,711 9,223,167
40.42 | 39.70 |
Net asset per share 43.70 42.04
I certify that financial statements comply with the requirements of the Companies Act No. 07 of 2007.
Sgd. |
Renuja Selvanathan |
Chief Financial Officer |
Sgd. |
Pubudu De Silva |
Chief Executive Officer |
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Sgd. |
Ashroff Omar |
Director |
Sgd. |
Hasitha Premaratne |
Director |
15-May-2025
Statement Of Changes In Equity - Group |
(All amounts in Sri Lanka Rupees Thousands) |
Stated capital | Share option scheme | Exchange equalisation reserve | Retained earnings | Total | |
Balance as at 1 April 2023 | 4,442,234 | 153,491 | 18,047,539 | 9,400,088 | 32,043,352 |
Profit for the period | Nil | Nil | Nil | 1,109,536 | 1,109,536 |
Other comprehensive income | Nil | Nil | (2,295,337) | (218,032) | (2,513,369) |
Total comprehensive income | Nil | Nil | (2,295,337) | 891,504 | (1,403,833) |
Final dividend paid - 2022/23 | Nil | Nil | Nil | (537,555) | (537,555) |
Employee Share Option Scheme | Nil | 28,200 | Nil | Nil | 28,200 |
Balance as at 31 March 2024 4,442,234 181,691 15,752,202 9,754,037 30,130,164 |
Balance as at 1 April 2024 4,442,234 181,691 15,752,202 9,754,037 30,130,164 |
Profit for the period | Nil | Nil | Nil | 2,792,766 | 2,792,766 |
Comprehensive income | Nil | Nil | (358,607) | (98,503) | (457,110) |
Total comprehensive income | Nil | Nil | (358,607) | 2,694,263 | 2,335,656 |
Final Dividend - 2023/24 | Nil | Nil | Nil | (541,093) | (541,093) |
Interim Dividend - 2024/25 | Nil | Nil | Nil | (541,093) | (541,093) |
Employee Share Option Scheme | Nil | 4,976 | Nil | Nil | 4,976 |
Issue of shares under Employee Share Option Scheme | 140,637 | Nil | Nil | Nil | 140,637 |
Balance as at 31 March 2025 | 4,582,871 | 186,667 | 15,393,595 | 11,366,113 | 31,529,246 |
Statement Of Changes In Equity - Company |
(All amounts in Sri Lanka Rupees Thousands) |
Stated capital | Share option scheme | Exchange equalisation reserve | Retained earnings | Total | |
Balance as at 1 April 2023 | 4,442,234 | 153,491 | 15,533,259 | 8,403,764 | 28,532,748 |
Profit for the period | Nil | Nil | Nil | 2,759,192 | 2,759,192 |
Other comprehensive income | Nil | Nil | (2,139,761) | (189,300) | (2,329,061) |
Total comprehensive income | Nil | Nil | (2,139,761) | 2,569,892 | 430,131 |
Final dividend paid - 2022/23 | Nil | Nil | Nil | (537,555) | (537,555) |
Employee Share Option Scheme | Nil | 28,200 | Nil | Nil | 28,200 |
Balance as at 31 March 2024 | 4,442,234 | 181,691 | 13,393,498 | 10,436,101 | 28,453,524 |
Balance as at 1 April 2024 | 4,442,234 | 181,691 | 13,393,498 | 10,436,101 | 28,453,524 |
Profit for the period | Nil | Nil | Nil | 2,061,100 | 2,061,100 |
Other comprehensive income | Nil | Nil | (335,490) | (80,097) | (415,587) |
Total comprehensive income | Nil | Nil | (335,490) | 1,981,003 | 1,645,513 |
Final Dividend - 2023/24 |
Interim Dividend - 2024/25 |
Employee Share Option Scheme |
Nil |
Nil |
Nil |
Nil |
Nil |
4,976 |
Nil |
Nil |
Nil |
(541,093) |
(541,093) |
Nil |
(541,093) |
(541,093) |
4,976 |
Issue of shares under Employee Share Option Scheme | 140,637 | Nil | Nil | Nil | 140,637 |
Balance as at 31 March 2025 | 4,582,871 | 186,667 | 13,058,008 | 11,334,917 | 29,162,463 |
Statement Of Cash Flows |
(All amounts in Sri Lanka Rupees Thousands) |
Group | Company | |||
Period ended 31 March Period ended 31 March | ||||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Audited | Unaudited | Audited | |
Cash flows from operating activities
Cash generated from / (Used in) operations | 6,990,283 | 4,693,734 | 5,195,247 | 3,285,473 | |
Finance income received | 396,073 | 429,549 | 353,382 | 430,384 | |
Finance cost paid | (800,184) | (953,620) | (161,096) | (296,361) | |
Retirement benefit obligations paid | (143,215) | (199,921) | (63,334) | (94,904) | |
Tax paid | (1,084,526) | (1,115,642) | (1,084,526) | (1,115,642) | |
Net cash generated/(used) from operating activities | 5,358,431 | 2,854,100 | 4,239,673 | 2,208,950 |
Cash flows from investing activities | |||||
Additions to capital work - in - progress | (1,842,003) | (1,878,338) | (1,650,975) | (1,355,202) | |
Net decrease/(increase) in investment in financial assets | (2,382,083) | 1,612,975 | (2,088,357) | 1,679,771 | |
Net cash used in investing activities | (4,224,086) | (265,363) | (3,739,332) | 324,569 | |
Cash flows from financing activities | |||||
Issue of shares under Employee Share Option Scheme | 140,637 | Nil | 140,637 | Nil | |
Dividend paid | (1,082,187) | (537,555) | (1,082,187) | (537,555) | |
Net proceeds from / (settlement of) borrowings | (1,702,146) | (2,042,746) | (1,359,314) | (735,324) | |
Principal elements of lease payments | (124,347) | (142,164) | (62,490) | (81,783) | |
Net cash generated from / (used in) financing activities | (2,768,043) | (2,722,465) | (2,363,354) | (1,354,662) | |
Net increase/(decrease) in cash and cash equivalents (1,633,698) (133,728) (1,863,013) 1,178,857
Cash and cash equivalents at the beginning of the period | 7,217,674 | 7,351,402 | 6,039,598 | 4,860,741 | |
Cash and cash equivalents at the end of the period | 5,583,976 | 7,217,674 | 4,176,585 | 6,039,598 |
Balance as at 31 March 2025
Notes To The Financial Statements |
(In the notes all amounts are shown in Sri Lankan Rupees Thousands unless otherwise stated) |
Corporate Information
Teejay Lanka PLC is a public limited company incorporated and domiciled in Sri Lanka and listed on the Colombo Stock Exchange. The address of its registered office is Block D8 - D14, Seethawaka Export Processing Zone, Avissawella.
Condensed Interim Financial Statements
The financial statements for the period ended 31 March 2025, includes "the Company" referring to Teejay Lanka PLC.
The Company has also presented the statement of comprehensive income and the statement of financial position in United States Dollars (USD) since the functional currency of the enterprise is USD.
Approval of Financial Statements
The condensed interim financial statements of the Company for the 12 months ended 31 March 2025 were authorised for issue by the Board of Directors on 15 May 2025.
Basis of Preparation
The condensed interim financial statements of the Company have been prepared in accordance with Sri Lanka Accounting Standard - LKAS 34 Interim Financial Reporting . The condensed interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 March 2024.
The condensed interim financial statements have been prepared on a historical cost basis.
Accounting Policies
The accounting policies adopted are consistent with those of the previous financial year.
Other Financial Assets
Short term deposits with original maturity of more than 3 months but less than one year which previously reported under cash and cash equivalents are now shown under other financial assets.
Contingencies, Capital and Other Commitments
There has been no significant change in the nature of the contingencies and other commitments, which were disclosed in the annual report for the year ended 31 March 2024.
Key Ratios of the Group and the Company
Group
Company
Period ended 31 March Period ended 31 March
2025
2024
2025
2024
Profitability Ratios
Net Profit Margin
Asset to Turnover
Debt : Equity
Return on Assets (ROA)
Return on Equity (ROE)
4.17%
1.21
0.24
5.02%
9.06%
1.83%
1.06
0.31
1.93%
3.57%
5.30%
0.99
0.05
5.27%
7.15%
7.15%
0.97
0.11
6.93%
9.68%
Investor Ratios
Earnings per Share (EPS) - LKR
Net Asset Value per Share - LKR
Price / Earnings Ratio (PE Ratio)
Price to Book Value Ratio (PBV Ratio)
(PE and PBV Ratios are based on a market price of LKR 51.00 per share closed 31 March 2025)
3.87
43.70
13.17
1.17
1.55
42.04
24.29
0.89
2.86
40.42
17.85
1.26
3.85
39.70
9.77
0.95
Number of shares representing the entity's Stated Capital - 721,457,738 Shares
Directors' Interest in Shares of the Company (As at 31 March 2025)
Hasitha Premaratne
Ajit Damon Gunewardene
No. of Shares
40,000
713,723
%
0.01
0.10
No. of Shares
499,695
%
0.07
Chief Executive Officer's holding in Shares of the Company (As at 31 March 2025) Pubudu De Silva
Balance as at 31 March 2025
Notes To The Financial Statements |
(In the notes all amounts are shown in Sri Lankan Rupees Thousands unless otherwise stated) |
12. Market Price per Share | ||
Quarter ended 31 March 2025 | Highest (LKR) 59.00 | Lowest (LKR) 45.00 |
Last traded price (on 31 March 2025) | 51.00 | |
13. Public Shareholding 288,530,876 shares - 39.99% | ||
The percentage of shares held by the public as at 31 March 2025 was 39.99% (288,530,876 number of shares). |
The number of public shareholders as at 31 March 2025 was 7,693 and a float adjusted market capitalisation of LKR 14,715,074,676. |
In terms of the rule 7.13.1(a) of the Listing Rules if the Colombo Stock Exchange, the Company Qualifies under option one of the minimum public holding requirement.
List of the 20 Largest Shareholders
Brandix Lanka Ltd-Number 1 Account
Pacific Textured Jersey Holdings Limited
BBH - Fidelity Funds
Citibank Newyork S/A Norges Bank Account 2
JPMCB NA-Fidelity Asian Values Plc
Lynear Wealth Management/Mr.Hanif Yusoof
J.B. Cocoshell (Pvt) Ltd
Pemberton Asian Opportunities Fund
Mr. R.P. Weerasooriya
Employee's Provident Fund
Citibank Hong Kong S/A Hostplus Pooled Superannuation Trust
Union Assurance Plc-Universal Life Fund
Hatton National Bank Plc-Senfin Growth Fund
SSBT-Sunsuper Pty. Ltd. As Trustee For Sunsuper Superannuation Fund
GF Capital Global Limited
Deutsche Bank AG Trustee To Lynear Wealth Dynamic Opportunities Fund
Employees Trust Fund Board
Sam Innovators (Pvt) Ltd
Rubber Investment Trust Ltd A/C No 01
Northern Trust Company S/A Hosking Global Fund Plc
No. of Shares
234,227,644
195,926,217
45,051,547
21,500,716
18,466,155
15,723,716
13,082,945
12,000,000
8,735,939
6,979,333
6,009,814
5,646,385
3,953,926
3,783,148
3,276,050
2,783,733
2,677,561
2,500,000
2,203,548
2,183,089
%
32.47
27.16
6.24
2.98
2.56
2.18
1.81
1.66
1.21
0.97
0.83
0.78
0.55
0.52
0.45
0.39
0.37
0.35
0.31
0.30
Material events that occurred subsequent to the interim period
No events have occurred since the date of the statement of financial position which would require adjustments to, or disclosure in, the financial statements.
Statement of Profit or Loss |
(All amounts in United States Dollars) |
Group | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Revenue from contracts with customers | 59,263,784 | 48,866,420 | 21% | 228,410,021 | 193,840,011 | 18% |
Cost of sales | (50,774,840) | (44,060,896) | -15% | (201,446,546) | (177,701,109) | -13% |
Gross profit 8,488,944 4,805,524 77% 26,963,475 16,138,902 67% |
Other operating income - net 807,914 171,115 372% 1,775,194 648,431 174% |
Distribution expenses | (552,789) | (581,838) | 5% | (2,122,656) | (1,850,428) | -15% |
Administrative expenses | (2,478,287) | (2,042,888) | -21% | (10,237,848) | (8,265,469) | -24% |
Net impairment gain/(loss) on financial assets | (1,275,009) | (278,178) | -558% | (852,863) | 392,260 | -317% |
Results from operating activities | 4,990,773 | 2,073,735 | 141% | 15,525,302 | 7,063,696 | 120% |
Finance income | 359,764 | (122,117) | 395% | 1,349,528 | 1,451,211 | -7% |
Finance costs | (671,831) | (711,871) | 6% | (3,044,606) | (3,496,465) | 13% |
Net finance income/(costs) | (312,067) | (833,988) | 63% | (1,695,078) | (2,045,254) | 17% |
Profit before tax 4,678,706 1,239,747 277% 13,830,224 5,018,442 176% |
Income tax (1,593,026) 515,135 -409% (4,314,516) (1,477,218) -192% |
Profit for the period 3,085,680 1,754,882 76% 9,515,708 3,541,224 169%
Attributable to: | ||||||
Equity holders of the parent | 3,085,680 | 1,754,882 | 76% | 9,515,708 | 3,541,224 | 169% |
Non-controlling interest | Nil | Nil | Nil | Nil | Nil | Nil |
3,085,680 1,754,882 76% 9,515,708 3,541,224 169%
Effect on remeasurement of retirement |
benefit obligations |
Deferred tax attributable to |
remeasurement of retirement benefit |
obligations |
Attributable to: | |||
Equity holders of the parent | 2,750,054 | 1,059,006 | 160% |
Non-controlling interest | Nil | Nil | Nil |
`
Statement Of Comprehensive Income |
(All amounts in United States Dollars) |
Group | ||||||
Quarter Ended | Year Ended | |||||
31 March | 31 March | |||||
2025 | 2024 | Variance | 2025 | 2024 | Variance | |
Unaudited | Unaudited | Unaudited | Audited |
Profit for the period Other comprehensive income | 3,085,680 | 1,754,882 | 76% | 9,515,708 | 3,541,224 | 169% |
(482,387) | (997,313) | 52% | (482,387) | (997,314) | 52% | |
146,761 | 301,437 | -51% | 146,761 | 301,437 | -51% |
Tot | al other comprehensive income for the period (335,626) (695,876) 52% | (335,626) (695,877) 52% |
Total comprehensive income for the period | 2,750,054 | 1,059,006 | 160% | 9,180,082 | 2,845,347 | 223% | |
9,180,082 Nil | 2,845,347 Nil | 223% Nil | |||||
2,750,054 | 1,059,006 | 160% | 9,180,082 | 2,845,347 | 223% |
Statement of Profit or Loss |
(All amounts in United States Dollars) |
Company | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Revenue from contracts with customers | 33,662,564 | 30,932,855 | 9% | 132,526,413 | 123,128,723 | 8% |
Cost of sales | (28,687,580) | (26,678,225) | -8% | (115,181,386) | (106,148,688) | -9% |
Gross profit 4,974,984 4,254,630 17% 17,345,027 16,980,035 2% |
Other income 65,520 37,527 75% 409,720 329,621 24% |
Distribution expenses | (454,446) | (305,913) | -49% | (1,806,930) | (1,260,651) | -43% |
Administrative expenses | (1,544,174) | (1,242,092) | -24% | (6,227,166) | (4,647,424) | -34% |
Net impairment gain/(loss) on financial assets | (359,880) | (59,630) | 504% | (241,280) | 413,114 | -158% |
Results from operating activities | 2,682,004 | 2,684,522 | 0% | 9,479,371 | 11,814,695 | -20% |
Finance income 327,398 |
Finance costs (124,719) |
Net finance income/(costs) 202,679 |
57,577 |
(224,764) |
(167,187) |
Profit before tax | 2,884,683 | 2,517,335 | 15% | 10,035,597 | 12,339,143 | -19% |
Income tax | (764,726) | (820,848) | 7% | (3,012,873) | (3,532,839) | 15% |
469% |
45% |
221% |
1,204,069 | 1,599,345 -25% |
(647,843) | (1,074,897) 40% |
556,226 | 524,448 6% |
Profit for the period 2,119,957 1,696,487 25% 7,022,724 8,806,304 -20%
Statement Of Comprehensive Income |
(All amounts in United States Dollars) |
Company | |||||
Quarter Ended | Year Ended | ||||
31 March | 31 March | ||||
2025 | 2024 | Variance | 2025 | 2024 | Variance |
Unaudited | Unaudited | Unaudited | Audited | ||
Profit for the period Other comprehensive income | 2,119,957 | 1,696,487 | 25% | 7,022,724 | 8,806,304 | -20% | ||
(389,874) | (863,109) | 55% | (389,874) | (863,109) | 55% | |||
116,962 | 258,933 | -55% | 116,962 | 258,933 | 55% | |||
Total other comprehensive income for the period | (272,912) | (604,176) | 55% | (272,912) | (604,176) | 55% | ||
Total comprehensive income for the period | 1,847,045 | 1,092,311 | 69% | 6,749,812 | 8,202,128 | -18% |
Effect on remeasurement of retirement |
benefit obligations |
Deferred tax attributable to |
remeasurement of retirement benefit |
obligations |
Statement Of Financial Position |
(All amounts in United States Dollars) |
Group | Company | |||
As at 31 March As at 31 March | ||||
2025 | 2024 | 2025 | 2024 | |
Unaudited | Audited | Unaudited | Audited | |
ASSETS | ||||
Non - current assets | ||||
Property, plant & equipment | 59,129,818 | 61,387,388 | 25,750,429 | 23,758,200 |
Capital work-in-progress | 1,143,610 | 2,379,911 | 939,725 | 1,721,570 |
Intangible assets | 1,485,619 | 2,051,798 | 1,119,636 | 1,496,214 |
Goodwill | 332,502 | 332,502 | Nil | Nil |
Investment in Subsidiaries | Nil | Nil | 17,344,614 | 17,344,614 |
Right-of-use assets | 5,392,753 | 5,688,406 | 2,010,504 | 2,130,092 |
Deferred tax Assets | 6,590,035 | 7,577,788 | Nil | Nil |
Non-current receivables | 2,149,688 | 2,117,623 | 3,654,688 | 4,482,623 |
76,224,025 81,535,416 50,819,596 50,933,313
Current assets | ||||
Inventories | 38,660,575 | 39,405,221 | 24,334,747 | 25,579,959 |
Trade and other receivables | 41,934,513 | 33,070,461 | 32,663,724 | 32,108,938 |
Current tax receivables | 2,569,268 | 2,079,129 | Nil | Nil |
Other financial assets | 13,761,833 | 5,645,432 | 11,111,060 | 3,995,463 |
Cash and cash equivalents | 19,131,229 | 24,475,007 | 14,312,551 | 20,485,730 |
116,057,418 104,675,250 82,422,082 82,170,090
Total assets | 192,281,443 | 186,210,666 | 133,241,678 | 133,103,403 |
EQUITY AND LIABILITIES | ||||
Capital and reserves | ||||
Stated capital | 40,080,437 | 39,606,881 | 40,080,437 | 39,606,881 |
Share option scheme | 1,085,904 | 1,070,817 | 1,085,904 | 1,070,817 |
Retained earnings | 66,784,646 | 61,271,836 | 58,681,175 | 55,598,696 |
Non - current liabilities | ||||
Borrowings | 8,666,300 | 14,008,060 | Nil | Nil |
Lease liabilities | 4,083,550 | 4,159,812 | 1,391,676 | 1,479,879 |
Deferred tax liabilities | 7,373,382 | 7,489,523 | 1,990,183 | 2,371,717 |
Retirement benefit obligations | 3,841,637 | 2,961,960 | 2,430,865 | 1,767,570 |
107,950,987 101,949,534 99,847,516 96,276,394
23,964,869 28,619,355 5,812,724 5,619,166
Current liabilities | ||||
Trade and other payables | 42,217,715 | 36,767,687 | 21,236,815 | 19,969,945 |
Current Tax Liabilities | 728,036 | 953,017 | 728,036 | 953,017 |
Lease liabilities | 378,133 | 381,038 | 160,080 | 159,499 |
Borrowings | 17,041,703 | 17,540,035 | 5,456,507 | 10,125,382 |
60,365,587 55,641,777 27,581,438 31,207,843
Total liabilities 84,330,456 84,261,132 33,394,162 36,827,009 |
Total equity and liabilities 192,281,443 186,210,666 133,241,678 133,103,403 |
I certify that financial statements comply with the requirements of the Companies Act No. 07 of 2007.
Sgd. |
Renuja Selvanathan |
Chief Financial Officer |
Sgd. |
Pubudu De Silva |
Chief Executive Officer |
The Board of Directors is responsible for the preparation and presentation of these financial statements.
Sgd. |
Ashroff Omar |
Director |
Sgd. |
Hasitha Premaratne |
Director |
15-May-2025
Name |
Teejay Lanka PLC |
Attorneys |
F J & G de Saram |
Attorneys-at-Law |
216, De Saram Place, |
Colombo 10. |
Sri Lanka |
Legal Form |
A public quoted Company with limited |
liability, incorporated on 12 July 2000. |
Company Registration No. |
PV 7617 PB/PQ |
Bankers |
The Hongkong and Shanghai Banking Corporation Limited |
Standard Chartered Bank |
ICICI Bank Limited |
Deutsche Bank AG |
Canara Bank |
Bank of China |
Commercial Bank of Ceylon PLC |
People's Bank |
Bank of Ceylon |
Nations Trust Bank PLC |
National Development Bank PLC |
Hatton National Bank |
DFCC Bank PLC |
Stock Exchange Listing |
The issued Ordinary Shares of the |
Company was listed on the Main Board |
of the Colombo Stock Exchange of |
Sri Lanka on 9 August 2011. |
Registered Office |
Block D8 - D14, Seethawaka |
Export Processing Zone, |
Avissawella. |
Corporate Information
Directors |
Mr. Ajit Damon Gunewardene - Chairman |
Mr. Mohamed Ashroff Omar |
Mr. Hasitha Premaratne |
Mr. Shrihan Blaise Perera |
Mr. William Charles McRaith |
Mr. Masaru Okutomi |
Mr. Kit Vai Tou |
Investor Relations |
Pubudu De Silva |
Renuja Selvanathan |
Secretaries |
Corporate Services (Private) Limited |
216, De Saram Place, |
Colombo 10. |
Sri Lanka. |
Auditors |
Deloitte Partners |
Chartered Accountants |
Teejay Lanka PLC |
Block D8-D14, |
Seethawaka Export Processing Zone, |
Avissawella, Sri Lanka. |
https://www.teejay.com |