INTERIM
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31ST DECEMBER 2021
TESS AGRO PLC
- 87, New Nuge Road, Kelaniya
Balance Sheet
As At 31st December 2021
Un-Audited | Un-Audited | Audited | ||
Period Ended | Period Ended | Period Ended | ||
31st Dec. 2021 | 31st Dec. 2020 | 31st Mar. 2021 | ||
Rs. | Rs. | Rs. | ||
ASSETS | ||||
NON CURRENT ASSETS | ||||
Property , Plant & Equipment Net | 339,217,694 | 328,141,946 | 337,623,972 | |
Leasehold Property | ||||
Intangible Assets | 437,835 | 621,495 | 575,648 | |
Right of Use Assets | 138,403,531 | 142,964,725 | 138,403,531 | |
Differed Tax Assets | 202 | 8,820 | ||
Biological Assets | 2,194,289 | 2,194,289 | 2,194,289 | |
Other Non Current Financial Assets | 9,373,081 | 10,794,067 | 9,373,081 | |
489,626,430 | 484,716,724 | 488,179,341 | ||
CURRENT ASSETS | ||||
Inventories | 1,802,439 | |||
Trade and Other Receivables Net | 12,555,306 | 18,515,101 | 12,615,306 | |
Amount Due From Related Parties | ||||
Other Current Assets | 17,643,726 | 17,635,706 | 17,609,906 | |
Current Investments | ||||
Cash & Cash Equivalents | 5,675,727 | 5,333,127 | 5,415,597 | |
35,874,759 | 43,286,373 | 35,640,809 | ||
TOTAL ASSETS | 525,501,189 | 528,003,097 | 523,820,150 | |
EQUITY & LIABILITIES | ||||
Stated Capital | 407,805,528 | 407,805,528 | 407,805,528 | |
Other Components of Equity | (394,109,692) | (402,831,537) | (386,776,258) | |
Reserves | 49,826,807 | 104,954,018 | 49,826,808 | |
Total Equity | 63,522,643 | 109,928,009 | 70,856,078 | |
NON CURRENT LIABILITIES | ||||
Deferred Tax Liability | 26,830,516 | 22,194,601 | 26,830,516 | |
Interest Bearing Borrowings | 67,414,562 | 148,714,018 | 67,414,563 | |
Rent-Deposit | 2,290,000 | 2,290,000 | ||
Retirement Benefit Obligations | 63,000 | 1,840,900 | 63,000 | |
96,598,078 | 172,749,519 | 96,598,079 | ||
CURRENT LIABILIITES | ||||
Trade and Other Payables | 24,594,229 | 39,996,121 | 26,215,206 | |
Interest Bearing Borrowings | 222,259,842 | 146,137,244 | 222,259,842 | |
Amount Due To Related Parties | 23,234,446 | 23,165,295 | ||
Short Term Borrowings | 20,206,249 | 20,206,249 | ||
Other Current Liabilities | 3,254,698 | 3,132,638 | 3,254,698 | |
Bank Overdrafts | 71,831,002 | 56,059,565 | 61,264,703 | |
365,380,467 | 245,325,568 | 356,365,993 | ||
TOTAL EQUITY & LIABILITIES | 525,501,188 | 528,003,096 | 523,820,150 | |
No of Ordinary Voting Shares | 389,797,287 | 389,797,287 | 389,797,287 | |
Net assets value per share | 0.16 | 0.28 | 0.18 | |
Market value per share Voting - Qtr.- Highest | 1.50 | 0.80 | 1.00 | |
- Lowest | 0.50 | 0.50 | 0.50 | |
- Closing | 1.50 | 0.60 | 0.50 | |
Market value per share Non Voting - Qtr.- Highest | 1.20 | 0.80 | 0.90 | |
- Lowest | 0.40 | 0.40 | 0.40 | |
- Closing | 1.10 | 0.50 | 0.40 | |
The above figures are provisional and subject to audit | ||||
S.F. Fernando | D.Fernando | |||
Chairperson | Director / CEO | |||
Date | 18.02.2021 |
Figures in the brackets indicate deductions.
Income Statement
For the Period Ended 31st December 2021
Un-audited | Un-audited | Un-audited | Un-audited | Audited | ||
Nine Months | Nine Months | Three Months | Three Months | Change | ||
Period Ended | Period Ended | Period Ended | Period Ended | Period Ended | ||
31st Dec. 2021 | 31st Dec. 2020 | 31st Dec. 2021 | 31st Dec. 2020 | 31st Mar. 2021 | ||
Rs. | Rs. | Rs. | Rs. | Rs. | % | |
Turnover | 6,865,875 | 4,805,326 | 2,288,625 | 4,805,326 | 4,991,900 | 43 |
Cost of Sales | (1,456,416) | (4,132,580) | (484,808) | (744,250) | (3,217,030) | 65 |
Gross Profit | 5,409,459 | 672,746 | 1,803,817 | 4,061,076 | 1,774,870 | 704 |
Other Operating Income | 1,721,070 | 45,000 | 460,610 | 45,000 | 4,257,420 | - |
Selling & Distribution Expenses | (285,832) | (525,650) | (357,000) | (261,011) | (12,380,944) | 46 |
Administrative Expenses | (6,741,115) | (3,943,413) | (2,488,615) | (4,197,574) | (14,190,323) | (71) |
Other Operating Expenses | (1,344,375) | (419,833) | (376,784) | (17,491,786) | (100) | |
Profit from Operations | (1,240,793) | (4,171,150) | (957,972) | (352,509) | (38,030,763) | (70) |
Dividend Income | 34,957 | 7,704 | ||||
Profit before Interest | (1,205,836) | (4,171,150) | (950,268) | (352,509) | (38,030,763) | 71 |
Finance Income | 264 | - | ||||
Finance Expenses | (2,602,479) | (1,929,364) | (903,992) | (582,541) | (2,618,598) | (35) |
Profit /(Loss) before Tax | (3,808,315) | (6,100,514) | (1,854,260) | (935,050) | (40,649,097) | 38 |
Provision for Taxation | - | - | - | - | (265,297) | - |
Net Profit/(Loss) after Tax | (3,808,315) | (6,100,514) | (1,854,260) | (935,050) | (40,914,394) | 38 |
Profit available for Appropriation | (3,808,315) | (6,100,514) | (1,854,260) | (935,050) | (40,914,394) | 38 |
Earnings Per Share | (0.01) | (0.03) | (0.01) | (0.01) | (0.10) | 17 |
Figures in the brackets indicate deductions. |
Statement of Comprehensive Income
For the Period Ended 31st December 2021 | |||||
Un-audited | Un-audited | Un-audited | Un-audited | Audited | |
Nine Months | Nine Months | Three Months | Three Months | ||
Period Ended | Period Ended | Period Ended | Period Ended | Period Ended | |
31st Dec.2021 | 31st Dec.2020 | 31st Dec.2021 | 31st Dec.2020 | 31st Mar. 2021 | |
Rs. | Rs. | Rs. | Rs. | Rs. | |
Profit / Loss for the Peroid / Year | (3,808,315) | (6,100,514) | (1,854,260) | (935,050) | (40,914,394) |
Other Comprehensive Income | - | - | - | - | - |
(3,808,315) | (6,100,514) | (1,854,260) | (935,050) | (40,914,394) | |
Revaluation of property Plant & Equipment |
Change
%
38
-
38
Net change in fair value of available for sale financial assets | - | - | - | - | 156,160 | - |
Net change in fair value of financial Assets in Tropic Fishery (Pvt) Ltd | (1,577,146) | |||||
Acturial gains (losses) on Employee benefit liabilities | 142,340 | |||||
Other Comprehensive Income for the Year, net of tax | - | - | - | - | (42,193,040) | |
Total Comprehensive Income for the Period /Year | (3,808,315) | (6,100,514) | (1,854,260) | (935,050) | (42,193,040) | 38 |
Figures in the brackets indicate deductions.
Cash Flow Statement
For the Period Ended 31st December 2021
Company | |||
Un-Audited | Un-Audited | ||
Nine Months | Nine Months | Audited | |
Period Ended | Period Ended | Period Ended | |
31st Dec. 2021 | 31st Dec. 2020 | 31st Mar. 2021 | |
Rs. | Rs. | ||
Cash Flow from Operating Activities | |||
Cash Receipts from Customers | 1,721,070 | 14,543,132 | 4,592,548 |
Cash Paid to Suppliers & Employees | (15,927,548) | (6,222,832) | (2,385,130) |
Prior Year Adjustments | |||
Cash Generated from Operations | (14,206,478) | 8,320,300 | 2,207,418 |
Gratuity Paid | - | ||
Interest Paid | |||
Income Tax Paid | |||
ESC Paid | - | ||
Net Cash flow from Operating Activities | (14,206,478) | 8,320,300 | 2,207,418 |
Cash flow from Investing Activities | |||
Purchase of Intangible assets | 137,902 | ||
Acquisition of Biological Assets | (512,054) | ||
Interest Received | 264 | ||
Dividend Received | 34,957 | ||
Acquisition of Property Plant and Equipment | (9,583,955) | (11,555,661) | |
Disposal of Property,Plant & Equipment | 45,000 | ||
Rent Deposit Received | 2,290,000 | ||
Rent | 6,865,875 | 3,814,375 | |
Short Term Investment | |||
Exchange Gain / (Loss) | |||
Investment in Fixed Deposits | |||
Net Cash flow from Investing Activities | 6,900,832 | (9,958,107) | (5,406,022) |
Cash flow from Financing Activities | |||
Repayment of Interest Bearing Borrowings | |||
Proceeds from Share Issue | |||
Proceeds from Interest Bearing Borrowings | |||
Interest Paid | (2,602,479) | (2,618,598) | |
Dividend Paid | - | - | - |
Net Cash flow from Financing Activities | (2,602,479) | - | (2,618,598) |
Net Increase/(Decrease) in Cash & Cash Equivalents | (9,908,125) | (1,637,807) | (5,817,203) |
Cash & Cash Equivalents at the Beginning of the Year /Peroid | (56,247,151) | (49,088,631) | (50,429,948) |
Cash & Cash Equivalents at the End of the Period | (66,155,276) | (50,726,438) | (56,247,151) |
This is an excerpt of the original content. To continue reading it, access the original document here.