INTERIM
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30th SEPTEMBER 2022
TESS AGRO PLC
- 87, New Nuge Road, Kelaniya
Balance Sheet
As At 30th September 2022
Un-Audited | Un-Audited | Un-Audited | ||
Period Ended | Period Ended | Period Ended | ||
30th Sep. 2022 | 30th Sep. 2021 | 31st Mar. 2022 | ||
Rs. | Rs. | Rs. | ||
ASSETS | ||||
NON CURRENT ASSETS | ||||
Property , Plant & Equipment Net | 333,123,083 | 335,849,587 | 331,320,657 | |
Right of Use Assets | 138,403,531 | 136,122,934 | 138,403,531 | |
Intangible Assets | 575,648 | 483,773 | 575,648 | |
Differed Tax Assets | 8,820 | 8,820 | 8,820 | |
Biological Assets | 2,199,659 | 2,194,289 | 2,194,289 | |
Other Non Current Financial Assets | 9,373,081 | 9,373,081 | 9,373,081 | |
483,683,822 | 484,032,484 | 481,876,025 | ||
CURRENT ASSETS | ||||
Trade and Other Receivables Net | 11,409,202 | 13,875,766 | 12,620,991 | |
Amount Due From Related Parties | ||||
Other Current Assets | 18,229,906 | 17,609,906 | 17,609,906 | |
Current Investments | 27,739,577 | |||
Cash & Cash Equivalents | 16,034,123 | 5,616,027 | 5,699,819 | |
73,412,808 | 37,101,699 | 35,930,716 | ||
TOTAL ASSETS | 557,096,630 | 521,134,183 | 517,806,743 | |
EQUITY & LIABILITIES | ||||
Stated Capital | 491,805,529 | 407,805,528 | 407,805,528 | |
Other Components of Equity | (345,424,010) | (392,255,431) | (354,721,316) | |
Reserves | 49,826,807 | 49,826,808 | 49,826,807 | |
Total Equity | 196,208,326 | 65,376,905 | 102,911,019 | |
NON CURRENT LIABILITIES | ||||
Deferred Tax Liability | 26,830,516 | 26,830,516 | 26,830,516 | |
Interest Bearing Loans & Borrowings | 67,414,563 | 67,414,563 | 67,414,563 | |
Deposit-Rent | 2,040,000 | 2,290,000 | 2,040,000 | |
Retirement Benefit Obligations | 63,000 | |||
96,285,079 | 96,598,079 | 96,285,079 | ||
CURRENT LIABILIITES | ||||
Trade and Other Payables | 10,403,039 | 22,081,170 | 20,577,502 | |
Interest Bearing Loans & Borrowings | 196,989,841 | 222,259,842 | 222,259,842 | |
Amount Due To Related Parties | 17,909,349 | 23,035,260 | 24,666,505 | |
Short Term Borrowings | 20,206,249 | 20,206,249 | 20,206,249 | |
Other Current Liabilities | 3,104,938 | 3,254,698 | 3,254,698 | |
Bank Overdrafts | 15,989,807 | 68,321,979 | 27,645,847 | |
264,603,224 | 359,159,198 | 318,610,643 | ||
TOTAL EQUITY & LIABILITIES | 557,096,630 | 521,134,183 | 517,806,743 | |
No of Ordinary Voting & Non Voting Shares | 557,797,287 | 389,797,287 | 389,797,287 | |
Net assets value per share | 0.35 | 0.17 | 0.26 | |
Market value per share Voting - Qtr.- Highest | 2.40 | 0.80 | 3.50 | |
- Lowest | 1.10 | 0.50 | 1.30 | |
- Closing | 1.80 | 0.60 | 1.40 | |
Market value per share Non Voting - Qtr.- Highest | 1.80 | 0.80 | 2.00 | |
- Lowest | 0.90 | 0.60 | 0.90 | |
- Closing | 1.20 | 0.50 | 0.90 | |
The above figures are provisional and subject to audit | ||||
S.F Fernando | D.Fernando | |||
Chairperson | Director / CEO | |||
Date | 31.10.2022 | |||
Figures in the brackets indicate deductions. |
Income Statement
For the Period Ended 30th September 2022
Un-audited | Un-audited | Un-audited | Un-audited | Un-audited | ||
Three Months | Three Months | Six Months | Six Months | Change | ||
Period Ended | Period Ended | Period Ended | Period Ended | Period Ended | ||
30th Sep. 2022 | 30th Sep. 2021 | 30th Sep. 2022 | 30th Sep. 2021 | 31st Mar. 2022 | ||
Rs. | Rs. | Rs. | Rs. | Rs. | % | |
Turnover | 3,549,085 | 7,652,074 | 5,837,710 | 1,721,070 | ||
Cost of Sales | (942,960.00) | (3,531,232) | (942,960) | (1,480,046) | - | |
Gross Profit | - | 2,606,125 | 4,120,843 | 4,894,750 | 241,024 | |
Other Operating Income | 2,345,840 | 4,634,465 | 53,709,496 | |||
Selling & Distribution Expenses | (94,956) | (118,928) | (2,727,771) | |||
Administrative Expenses | (1,852,479) | (3,408,020) | (6,225,609) | (7,184,145) | (15,477,202) | 46 |
Other Operating Expenses | (160,926) | - | ||||
Profit from Operations | 398,405 | (801,895) | 2,249,845 | (2,289,395) | 35,745,547 | (150) |
Dividend Income | 8,815 | 8,417 | 26,119 | 27,253 | 34,957 | |
Profit before Interest | 407,220 | (793,478) | 2,275,964 | (2,262,142) | 35,780,504 | (151) |
Finance Income | 818,942 | 818,942 | 100 | |||
Finance Expenses | (1,066,108) | (869,135) | (2,188,259) | (1,695,487) | (3,725,562) | |
Profit /(Loss) before Tax | 160,054 | (1,662,613) | 906,647 | (3,957,629) | 32,054,942 | 110 |
Provision for Taxation | - | - | - | - | - | |
Net Profit/(Loss) after Tax | 160,054 | (1,662,613) | 906,647 | (3,957,629) | 32,054,942 | 110 |
Profit available for Appropriation | 160,054 | (1,662,613) | 906,647 | (3,957,629) | 32,054,942 | 110 |
Earnings Per Share | 0.0003 | (0.00) | 0.002 | (0.01) | 0.08 | (6) |
Figures in the brackets indicate deductions. |
Statement of Comprehensive Income
For the Period Ended 30th September 2022 | ||||||
Un-audited | Un-audited | Un-audited | Un-audited | Un-audited | ||
Three Months | Three Months | Six Months | Six Months | Change | ||
Period Ended | Period Ended | Period Ended | Period Ended | Period Ended | ||
30th Sep.2022 | 30th Sep.2021 | 30th Sep.2022 | 30th Sep.2021 | 31st Mar. 2022 | ||
Rs. | Rs. | Rs. | Rs. | Rs. | % | |
Profit / Loss for the Peroid / Year | 160,054 | (1,662,613) | 906,647 | (3,957,629) | 32,054,942 | 110 |
Other Comprehensive Income | - | - | - | - | - | - |
160,054 | (1,662,613) | 906,647 | (3,957,629) | 32,054,942 | 110 | |
Revaluation of Property Plant & Equipment | - | |||||
Net change in fair Value - | ||||||
Available for sale financial assets | - | - | - | - | - | |
Financial Assets in Tropic Fishery (Pvt) Ltd | ||||||
Acturial gains (losses) on Employee benefit liabilities | ||||||
Other Comprehensive Income for the year net of tax | - | - | - | - | - | |
Other Comprehensive Income for the Period /Year | 160,054 | (1,662,613) | 906,647 | (3,957,629) | 32,054,942 | 110 |
Figures in the brackets indicate deductions. |
Cash Flow Statement | |||
For the Period Ended 30th September 2022 | |||
Company | |||
Un-Audited | Un-Audited | ||
Six Months | Six Months | Un-Audited | |
Period Ended | Period Ended | Period Ended | |
30th Sep. 2022 | 30th Sep. 2021 | 31st Mar. 2022 | |
Rs. | Rs. | ||
Cash Flow from Operating Activities | |||
Cash Receipts from Customers | 1,211,789 | 1,260,460 | 2,291,410 |
Shares issued | 84,000,000 | ||
Other Income | 44,554,996 | ||
Cash Paid to Suppliers & Employees | (11,695,340) | (12,402,663) | (18,210,736) |
Cash Generated from Operations | 73,516,449 | (11,142,203) | 28,635,670 |
Gratuity Paid | - | ||
Interest Paid | |||
Income Tax Paid | - | ||
Net Cash flow from Operating Activities | 73,516,449 | (11,142,203) | 28,635,670 |
Cash flow from Investing Activities | |||
Acquisition of Property, Plant & Equipment | (1,802,426) | 1,774,385 | |
Purchase of Intangible assets | |||
Acquisition of Biological Assets | (5,370) | ||
Acquisition of Investment | (27,739,577) | ||
Interest Received | 818,942 | ||
Dividend Received | 26,119 | 27,253 | 34,957 |
Proceeds from Disposal of Property Plant and Equipment | |||
Rent Deposit Received | |||
Rent Received | 4,634,465 | 4,577,250 | 9,154,500 |
Net Cash flow from Investing Activities | (24,067,847) | 6,378,888 | 9,189,457 |
Cash flow from Financing Activities | |||
Repayment of Interest Bearing Borrowings | (25,270,000) | ||
Interest Paid | (2,188,259) | (1,695,487) | (3,524,004) |
Proceeds from Long Term Loans | - | - | |
Proceeds from Interest Bearing Borrowings | |||
Dividend Paid | - | - | - |
Net Cash flow from Financing Activities | (27,458,259) | (1,695,487) | (3,524,004) |
Net Increase/(Decrease) in Cash & Cash Equivalents | 21,990,343 | (6,458,802) | 34,301,123 |
Cash & Cash Equivalents at the Beginning of the Year/Peroid | (21,946,028) | (56,247,150) | (56,247,151) |
Cash & Cash Equivalents at the End of the Period | 44,315 | (62,705,952) | (21,946,028) |
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