INTERIM
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31st MARCH 2022
TESS AGRO PLC
- 87, New Nuge Road, Kelaniya
Balance Sheet
As At 31st March 2022
Un-Audited | Audited | ||
Period Ended | Period Ended | ||
31st Mar. 2022 | 31st Mar. 2021 | ||
Rs. | Rs. | ||
ASSETS | |||
NON CURRENT ASSETS | |||
Property , Plant & Equipment | 341,904,270 | 337,623,972 | |
Intangible Assets | 575,648 | 575,648 | |
Differed Tax Assets | 8,820 | 8,820 | |
Biological Assets | 2,194,289 | 2,194,289 | |
Right of Use Assets | 138,403,531 | 138,403,531 | |
Other Non Current Financial Assets | 9,373,081 | 9,373,081 | |
492,459,639 | 488,179,341 | ||
CURRENT ASSETS | |||
Trade and Other Receivables Net | 8,396,670 | 12,615,306 | |
Other Current Assets | 17,874,906 | 17,609,906 | |
Cash & Cash Equivalents | 5,675,727 | 5,415,597 | |
31,947,303 | 35,640,809 | ||
TOTAL ASSETS | 524,406,941 | 523,820,150 | |
EQUITY & LIABILITIES | |||
Stated Capital | 407,805,528 | 407,805,528 | |
Retained Earnings | (347,984,056) | (386,776,257) | |
Reserves | 49,826,807 | 49,826,808 | |
Total Equity | 109,648,279 | 70,856,079 | |
NON CURRENT LIABILITIES | |||
Interest Bearing Borrowings | 67,414,562 | 67,414,563 | |
Deferred Tax Liability | 26,830,516 | 26,830,516 | |
Deposit-Rent | 2,290,000 | 2,290,000 | |
Retirement Benefit Obligations | 23,375 | 63,000 | |
96,558,453 | 96,598,079 | ||
CURRENT LIABILIITES | |||
Trade and Other Payables | 21,228,414 | 26,215,206 | |
Interest Bearing Borrowings | 222,259,842 | 222,259,842 | |
Amount Due To Related Parties | 24,616,505 | 23,165,295 | |
Short Term Borrowings | 20,206,249 | 20,206,249 | |
Other Current Liabilities | 2,018,768 | 3,254,698 | |
Bank Overdrafts | 27,870,431 | 61,264,703 | |
318,200,210 | 356,365,993 | ||
TOTAL EQUITY & LIABILITIES | 524,406,941 | 523,820,150 | |
No of Ordinary Shares | 389,797,287 | 389,797,287 | |
Net assets value per share | 0.28 | 0.18 | |
Market value per share Voting - Qtr. - Highest | 1.00 | 0.60 | |
- Lowest | 0.50 | 0.30 | |
- Closing | 0.50 | 0.40 | |
Market value per share Non Voting - Qtr. - Highest | 0.90 | 0.50 | |
- Lowest | 0.40 | 0.30 | |
- Closing | 0.40 | 0.40 | |
The above figures are provisional and subject to audit | |||
S.F. Fernando | D.Fernando | ||
Chairperson | Director / CEO | ||
Date | 06.06.2022 | ||
Figures in the brackets indicate deductions. |
Income Statement
For the Period Ended 31st March 2022
Un-audited | Un-audited | Un-audited | Audited | ||
Three Months | Three Months | ||||
Period Ended | Period Ended | Period Ended | Period Ended | ||
31st Mar. 2022 | 31st Mar. 2021 | 31st Mar.2022 | 31st Mar.2021 | ||
Rs. | Rs. | Rs. | Rs. | ||
Turnover | 2,288,625 | 3,601,597 | 13,875,570 | 4,991,900 | |
Cost of Sales | (229,925) | (3,025,341) | (2,377,921) | 3,217,030 | |
Gross Profit | 2,058,700 | 576,256 | 11,497,649 | 1,774,870 | |
Other Operating Income | 45,790,926 | 66 | 45,790,926 | 4,257,420 | |
Selling & Distribution Expenses | (103,372) | (18,355) | (403,721) | (12,380,944) | |
Administrative Expenses | (884,346) | (1,108,843) | (6,314,394) | (14,190,323) | |
Other Operating Expenses | (17,491,786) | ||||
Profit from Operations | 46,861,908 | (550,876) | 50,570,460 | (38,030,763) | |
Dividend Income | 34,957 | ||||
Profit before Interest | 46,861,908 | (550,876) | 50,605,417 | (38,030,763) | |
Finance Income | 264 | ||||
Finance Expenses | (736,274) | (751,164) | (3,338,753) | (2,618,598) | |
Profit /(Loss) before Tax | 46,125,634 | (1,302,040) | 47,266,664 | (40,649,097) | |
Provision for Taxation | - | - | - | (265,297) | - |
Net Profit/(Loss) after Tax | 46,125,634 | (1,302,040) | 47,266,664 | (40,914,394) | |
Profit available for Appropriation | 46,125,634 | (1,302,040) | 47,266,664 | (40,914,394) | |
Earnings Per Share | 0.12 | (0.00) | 0.12 | (0.10) | |
Figures in the brackets indicate deductions. |
Change
%
(36)
(92)
257
100
(20)
(8,607)
(8,607)
(2)
(3,643)
(3,643)
(3,643)
(3,643)
Statement of Comprehensive Income
For the Period Ended 31st March 2022 | ||||
Un-audited | Un-audited | Un-audited | Audited | |
Three Months | Three Months | |||
Period Ended | Period Ended | Period Ended | Period Ended | |
31st Mar. 2022 | 31st Mar. 2021 | 31st Mar. 2022 | 31st Mar. 2021 | |
Rs. | Rs. | Rs. | Rs. | |
Profit / Loss for the Peroid / Year | 46,125,634 | (1,302,040) | 47,266,664 | (40,914,394) |
Other Comprehensive Income | ||||
Revaluation of Property, Plant & Equipment | - | - | - | |
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 | - | - | - | (1,278,646) |
Total Comprehensive Income for the Period /Year | 46,125,634 | (1,302,040) | 47,266,664 | (42,193,040) |
Figures in the brackets indicate deductions.
Change
%
(3,643)
-
-
-
(3,643)
Cash Flow Statement
For the Period Ended 31st March 2022
Company | ||||
Un-Audited | Un-Audited | |||
Three Months | Three Months | Un-Audited | Audited | |
Period Ended | Period Ended | Period Ended | Period Ended | |
31st Mar. 2022 | 31st Mar. 2021 | 31st Mar. 2022 | 31st Mar. 2021 | |
Rs. | Rs. | |||
Cash Flow from Operating Activities | ||||
Cash Receipts from Customers | 44,554,996 | 12,150,300 | 46,276,066 | 4,592,548 |
Cash Paid to Suppliers & Employees | (1,531,846) | (11,213,353) | (12,597,796) | (2,385,130) |
Prior Adjustments | ||||
Cash Generated from Operations | 43,023,150 | 936,947 | 33,678,270 | 2,207,418 |
Gratuity Paid | (37,625) | - | (37,625) | |
Interest Paid | ||||
Income Tax Paid | (1,235,930) | - | (1,235,930) | |
ESC Paid | - | - | - | |
Net Cash flow from Operating Activities | 41,749,595 | 936,947 | 32,404,715 | 2,207,418 |
Cash flow from Investing Activities | ||||
Acquisition of Property, Plant & Equipment | (25,000) | (10,828,749) | (4,280,298) | (11,555,661) |
Disposal of Property,Plant & Equipment | 45,000 | |||
Interest Received | 264 | |||
Rent Deposit Received | 2,290,000 | |||
Rent Received | 2,288,625 | 9,154,500 | 3,814,375 | |
Dividend Received | 34,957 | |||
Short Term Investment | - | - | - | |
Exchange Gain / (Loss) | - | |||
Investment made during the year | - | - | - | |
Net Cash flow from Investing Activities | 2,263,625 | (10,828,749) | 4,909,159 | (5,406,022) |
Cash flow from Financing Activities | ||||
Repayment of Interest Bearing Borrowings | ||||
Interest Paid | (730,312) | - | (3,261,428) | (2,618,598) |
Proceeds from Interest Bearing Borrowings | ||||
Dividend Paid | - | - | - | - |
Net Cash flow from Financing Activities | (730,312) | - | (3,261,428) | (2,618,598) |
Net Increase/(Decrease) in Cash & Cash Equivalents | 43,282,909 | (9,891,802) | 34,052,446 | (5,817,202) |
Cash & Cash Equivalents at the Beginning of the Year /Pero | (66,621,813) | (50,429,948) | (56,247,150) | (50,429,948) |
Cash & Cash Equivalents at the End of the Period | (23,338,904) | (60,321,750) | (22,194,705) | (56,247,150) |
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