Interim Financial Statements For the period ended 31st December 2015

Transcription

1 Interim Financial Statements For the period ended 31st December 2015

2 echannelling PLC STATEMENT OF PROFIT OR LOSS AND OTHER COMPRIHENSIVE INCOME For the period ended GROUP COMPANY Quarter Ended 31st December Nine Month Ended 31st December Quarter Ended 31st December Nine Month Ended 31st December Un-audited Un-audited Un-audited Un-audited Un-audited Un-audited Un-audited Un-audited LKR LKR LKR LKR LKR LKR LKR LKR SLFRS / LKAS SLFRS / LKAS SLFRS / LKAS Restated SLFRS / LKAS SLFRS / LKAS SLFRS / LKAS Restated Revenue - 47,044, ,244,939 55,830,390 39,386, ,989, ,816,668 Cost of Sales - (11,541) - (39,908) (10,884) - (33,467) - Gross Profit - 47,033, ,205,031 55,819,506 39,386, ,956, ,816,668 Other Operating Income - 9,627 - (624,931) 31,556-32, Administrative Expenses - (15,446,829) - (47,232,083) (27,027,664) (14,600,587) (79,528,034) (45,425,726) Marketing & Distribution Expenses - (495,034) - (838,824) (1,004,109) (461,533) (3,851,108) (778,348) Profit From Operations - 31,101,209-94,509,193 27,819,289 24,323,922 76,608,961 74,613,036 Finance Income - 929,557-2,530,150 2,148, ,556 5,347,743 2,547,897 Net Finance (Expenses) / Income - 929,557-2,530,150 2,148, ,556 5,347,743 2,547,897 Profit Before Taxation - 32,030,766-97,039,343 29,968,262 25,253,478 81,956,704 77,160,933 Income Tax Expenses - (2,256,912) - (7,085,785) (5,067,980) (1,579,968) (15,573,751) (5,023,504) Profit for the Period - 29,773,854-89,953,558 24,900,282 23,673,510 66,382,953 72,137,429 Other Comprehensive Income Net Change in Fair Value of Available-For-Sale Financial Assets - (72,167) - 172,544 (259,463) (13,141) (249,078) 56,531 Other Comprehensive Income for the Period - (72,167) - 172,544 (259,463) (13,141) (249,078) 56,531 Total Comprehensive Income for the Period - 29,701,687-90,126,102 24,640,818 23,660,369 66,133,875 72,193,960 Earnings Per Share Dividends Per Share The notes to the Financial Statements form an integral part of these Financial Statements. Figures in brackets indicate deductions.

3 echannelling PLC STATEMENT OF FINANCIAL POSITION As at 31st December 2015 COMPANY LKR LKR LKR Un-audited Un-audited Audited ASSETS Non Current Assets Property, plant & equipment 15,166,453 18,821,336 17,114,882 Intangible assets 4,701,159 4,499,218 5,924,782 Employee share ownership trust fund - 1,160,000 1,160,000 Investment in subsidiary company - 150,100,000 - Deferred taxation 1,116,872 5,039,575 3,676,331 Total Non Current Assets 20,984, ,620,129 27,875,995 Current Assets Inventories 423, ,663 Trade & other receivables 44,868,823 58,329,389 45,869,191 Short term investments 114,832,774 55,256,003 57,422,387 Cash & cash equivalents 36,397,943 21,780,020 45,042,692 Total Current Assets 196,522, ,365, ,790,932 Total Assets 217,507, ,985, ,666,927 EQUITY AND LIABILITIES Equity Stated capital 93,758,316 93,758,316 93,758,316 Retained earnings 69,403, ,195,533 3,020,675 Available for sale reserve (903,986) (275,871) (654,908) Total Equity 162,257, ,677,978 96,124,083 Non Current Liabilities Employee benefits 4,684,904 3,818,380 3,413,692 Total Non Current Liabilities 4,684,904 3,818,380 3,413,692 Current Liabilities Trade & other payables 45,620,344 77,818,743 40,700,295 Income tax liability 4,944,013 2,670,440 36,428,857 Total Current Liabilities 50,564,357 80,489,183 77,129,152 Total Liabilities 55,249,261 84,307,563 80,542,844 Total Equity & Liabilities 217,507, ,985, ,666,927 Net Asset Per Share I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No 7 of Signed A.R.R.D. Alahakoon Finance Manager The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the board: Signed Signed S.A. Hettiarachchi Abulaiti Gulimire Director Director Date: ` Figures in the brackets indicate deductions. The above figures are provisional and subject to audit.

4 echannelling PLC STATEMENT OF CHANGES IN EQUITY COMPANY For the Period Ended 31st December 2015 Stated Capital Available forsale Reserve Retained Earnings Total LKR LKR LKR LKR Balance as at 1st April ,758,316 (332,402) 65,058, ,484,318 Profit for the period (Nine Months) ,137,429 72,137,429 Net Change in Fair Value of Available-For-Sale Financial Assets - 56,531-56,531 Balance as at 31st December ,758,316 (275,871) 137,195, ,678,278 Profit for the period (Three Months) - - (8,326,031) (8,326,031) Net Change in Fair Value of Available-For-Sale Financial Assets - (79,358) (244,850) (324,208) Adjustment due to merger - (299,679) (125,604,277) (125,903,956) Balance as at 31st March ,758,316 (654,908) 3,020,675 96,124,083 Profit for the period (Nine Months) ,382,953 66,382,953 Net Change in Fair Value of Available-For-Sale Financial Assets - (249,078) - (249,078) Balance as at 31st December ,758,316 (903,986) 69,403, ,257,958

5 echannelling PLC CASH FLOW STATEMENT For the period ended Un-audited Un-audited LKR LKR Cash Flow From Operating Activities Profit Before Taxation 81,956,704 77,160,933 Adjustments for : Depreciation and amortization 5,337,062 2,877,969 Provision for employee benefits 1,779,552 1,709,144 Interest income (5,347,743) (2,547,897) Operating Profit before Working Capital Changes 83,725,575 79,200,149 (Increase) / decrease in inventories 33,468 - Decrease / (increase) in trade & other receivable 2,847,573 (54,187,375) Decrease / (increase) in amounts due from related parties - 17,421,735 Increase / (decrease) in trade & other payables 4,920,049 12,235,869 Cash Generated from Operations 91,526,665 54,670,377 Interest received 4,660,537 2,785,814 Gratuity paid (508,342) - Tax paid (44,499,132) (6,433,477) Net Cash Generated from Operating Activities 51,179,728 51,022,714 Cash Flow From Investing Activities Acquisition of property plant and equipment (2,165,012) (4,926,363) Net proceeds of short term investments (57,659,465) (40,511,734) Cash received from Subsidiary - 1,774,758 Net Cash (used in) / Generated from Investing Activities (59,824,477) (43,663,339) Net Increase in Cash & Cash Equivalents (8,644,749) 7,359,375 Cash & Cash Equivalents at beginning of the Period 45,042,692 14,420,645 Cash & Cash Equivalents at end of the Period 36,397,943 21,780,020 Analysis of Cash and Cash Equivalents Cash at bank & in hand 36,397,943 21,780,020 36,397,943 21,780,020 Figures in the brackets indicate deductions. The above figures are provisional and subject to audit.

6 Notes to the Financial Statements 1 Basis of preparation The Interim Financial Statements of the Company have been prepared in accordance with Sri Lanka Accounting Standard - LKAS 34 Interim Financial Reporting. This Interim Financial Statement should be read in conjunction with the Annual Report for the year ended 31 March The financial statements provide the information as required in terms of Rule 7.4 of the Colombo Stock Exchange. 2 Company is following the same accounting policies published in the Annual report for the year ended 31st March The figures are provisional and subject to audit All known expenses including management fees and similar expenses have been provided for the financial statements. According to the best of knowledge and belief of the Board of Directors no circumstances have arisen since the reporting date, which would require adjustments to or disclosure in the Financial Statements. There has not been a significant change in the nature of contingent liabilities, which were disclosed in the Annual Report for the year ended 31 March Basic earnings per share is calculated by dividing the net profit for the respective period attributable to ordinary shareholders of the parent entity by the weighted average number of ordinary shares outstanding during that period. 8 ECL soft (Pvt) LTD, a fully own subsidiary of E-Channelling PLC has been amalgamated with E-Channelling PLC with effect from 27th March 2015 based on the book values as at that date in accordance with section 242 of the Companies Act No. 07 of 2007.

7 20 Largest Shareholders Name of Shareholder No of Shares % Holding 31-Dec-15 Senior Marketing System Asia (Pte).Limited 106,973, Sandwave Limited 1,666, Est.of.lat Perera (Deceased) Liyanage Saliya Ignatious 1,451, Mr.G.C. Goonetilleke 1,160, Mr.P. Rathnayaka 840, Dr. M. M. Rinoza 322, Mr.M.A.B. Morahela 289, Mr.A.H. Munasinghe 277, Mr.Guruge Piyadasa 271, Pan Asia Banking Corporation PLC/Mr.R.E. Rambukwelle 250, Mr. H.A.V. Starrex 239, Mr.Z.G. Carimjee 231, Mr.D.K.A.K. Weeratunga 219, Mrs.T.R. Selvanayagam 196, Mr.G.C.S. Ramanayake 180, Mr.D.P. Kumarasingha 174, Dasatha Investments Limited 163, Mr.M.J. Perera 122, Mr.B.A.St Ivor Perera 120, People's Leasing & Finance PLC/L.P.Hapangama 116, Sub Total 115,266, Others 6,864, Total Shares 122,131, Public Shareholding Number of Shareholders 1,603 Number of Shares 15,158,197 Percentage Holding 12.41% Directors Shareholding Name of Director Mr. D.J. Stephen As at 31st December Mr.S.A. Hettiarachchi - Mr.T Koike - Ms. A.Gulimire - Mr.T.Nobunaga - Mr. T. Sekimoto - Market Price Per Share For the 3 months ended 31st December LKR LKR Highest Lowest Last Traded

8 Corporate Information Name of the Company echannelling PLC Company Registration No PQ 205 Registered Office Suncity Towers, Mezzanine Floor, No 18, St Anthony's Mawatha, Colombo 03 Telephone (+94 11) Telefax (+94 11) Website Contant Person Legal Form Board of Directors Secretaries of the Company Auditors Lawyer(s) Bankers Dhammika Alahakoon (Finance Manager) Quoted Public Company incorporated in Sri Lanka in 2000, Ordinary share listed on the Diri Savi Board of the Colombo Stock Exchange Mr.T Koike - CEO/Chairman Mr. T. Sekimoto Ms. A.Gulimire Mr.T.Nobunaga Mr. D.J. Stephen Mr.S.A. Hettiarachchi S.S.P Corporate Services (Pvt) Limited No 101, Inner Flower Road Colombo 03 Tel / Contact person: Mr.Lalindra Abeysekera KPMG Charted Accountants 32A, Sir Mohamed Macan Marker Mawatha P.O. Box 186 Colombo 03 D. L. & F. De Saram 47 Alexandra Place, Colombo 07 Sampath Bank PLC Nations Trust Bank PLC Peoples Bank Commercial Bank of Ceylon PLC Bank of Ceylon