MIRA
INFORM REPORT
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Report Date : |
16.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ODEL LIMITED |
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Registered Office : |
No. 475/32, Kotte Road Rajagiriya |
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Country : |
Sri Lanka |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
31.10.1990 |
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Legal Form : |
Public Independent |
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Line of Business : |
Retail Sale of Clothing |
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No. of Employees : |
750 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Sri Lanka |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
ODEL Limited
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Business
Description
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Odel Limited is a Sri Lanka-based based company engaged in the sale of
ready-made garments, homeware and other accessories. Its products include
men’s, ladies’ and children’s clothes such as dresses, shirts, blouses,
jeans, pants, trousers, leggings, skirts, shorts, sarongs and formal wear as
well as swimwear, sportswear and undergarments; accessories such as bags,
belts, sunglasses, jewelry, beauty products, footwear, ties, cufflinks and
wallets. Its homeware products include towels, utensils, cushion, covers,
candles, luggage and stationery. As of March 31, 2011, the Company’s
subsidiaries included Odel Properties (Pvt) Ltd., Odel Lanka (Pvt) Ltd., Odel
Information Technology Services (Pvt) Ltd., Odel Apparels (Pvt) Ltd. and
Otone (Pvt) Ltd. Odel Limited is a Sri Lanka-based based company engaged in
the sale of ready-made garments, home ware and other accessories. Its
products include men's, ladies' and children's casual clothes, formal wear as
well as swimwear, sportswear, undergarments and accessories. Its home ware
products include towels, utensils, cushion, covers, candles, luggage and
stationery. The Company's subsidiaries are Odel Properties (Pvt) Ltd., Odel
Lanka (Pvt) Ltd.. |
Industry
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Industry |
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ANZSIC 2006: |
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NACE 2002: |
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NAICS 2002: |
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UK SIC 2003: |
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US SIC 1987: |
Key Executives
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Significant Developments
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* number of significant developments within the last 12 months |
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News
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Financial
Summary
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Stock
Snapshot
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1 - Profit &
Loss Item Exchange Rate: USD 1 = LKR 112.1562
2 - Balance Sheet Item Exchange Rate: USD 1 = LKR 110.395
Corporate Overview
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Executives Report
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Significant Developments
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ODEL Luv SL at Dutch Hospital shopping mall
Sri Lanka Sunday Observer
11 December 2011
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[What follows is
the full text of the news story.] CRICKET, Dec. 11
-- ODEL launched a sub brand for a range of home-grown products in the
fashion, accessories, souvenirs and household item categories that are to be
retailed in a new format of stores. The new brand
Luv SL made its debut at The Courtyard the shopping precinct at the former
Dutch Hospital complex at Echelon Square, which has been renovated as part of
the government's program to give Colombo a facelift to convert the
destination into a tourist attraction while retaining its original Dutch
architecture. Comprising 1,200
square feet this store is to be followed by a second Luv SL store at Queen's
Hotel, Kandy. The Souvenir
departments at the flagship ODEL store at Alexandra Place will also be
rebranded with the same name. The Luv SL stores will offer products from
ODEL, 'Backstage,' 'Embark' and 'Delight' - all home-grown brands - while the
store at Queens Hotel Kandy will also feature a Sri Lankan jeweller, a tea
brand and a beauty brand. Published by HT Syndication with permission from
Sunday Observer (Sri Lanka). For any query with respect to this article or
any other content requirement, please contact Editor at htsyndication@hindustantimes.com |
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Former Dutch Hospital in Fort, now a modern shopping complex
Sri Lanka Sunday Observer
04 December 2011
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[What follows is
the full text of the news story.] Sri Lanka, Dec.
4 -- The Dutch Hospital considered to be the oldest building in the Colombo
Fort area took a new look on Friday after it was turned into a shopping
complex and opened to the public by Economic Development Minister Basil
Rajapaksa and Defence and Urban Development Ministry Secretary Gotabaya
Rajapaksa. The Dutch
hospital which had been the venue for many services from time to time was
finally developed as a shopping complex at the cost of Rs.100 million by the
Urban Development Authority and with the support extended by the Sri Lanka
Army, hospitals, police stations and other institutions The shopping
complex has been built as part of the Urban Development Ministry's plan to
turn Colombo city into a tourist attraction shifting all the administrative
buildings out of Colombo city to Kotte and Battaramulla. The shopping
complex will accommodate renowned restaurants such as Japanese, Italian
restaurants, National Handicraft Council's outlets, Barefoot handicraft
shops, a tea centre, pub, spa centre, ODEL branch and a Natures Secrets
outlet. Around 12 shops
are to be included into this complex. There will be outlets of the Hotel
Hilton and Sri Lankan Catering Services as well." Published by HT
Syndication with permission from Sunday Observer (Sri Lanka). For any query
with respect to this article or any other content requirement, please contact
Editor at htsyndication@hindustantimes.com |
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Shopping mall
Sri Lanka Daily News
02 December 2011
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[What follows is
the full text of the news story.] UK, Dec. 2 --
"After the reconstruction of the building we gave the priority of
identifying the suitable businesses for this shopping mall. Hence we decided
to establish various types of shops in the complex such as Japanese, Italian
restaurants, National Handicraft Council's and barefoot handicraft shops, a
tea centre, pub, spar centre, ODEL branch and a Nature Secrets outlet. Urban
Development Chairman Janaka
Kurukulasuriya. Picture by
Thushara Fernando Around 12 shops
are to be included into this complex. There will be outlets of the Hotel
Hilton and Sri Lankan Catering Services as well." "This is
the first time Sri Lankan Caterings open their outlet in the country and all
these have been planned with the aim of creating an up market business. We
also hope to create a better place to both local and foreign tourists to
spend their time with more pleasure day and night," the chairman said.
Published by HT Syndication with permission from Daily News Sri Lanka. For
any query with respect to this article or any other content requirement,
please contact Editor at htsyndication@hindustantimes.com |
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Shopping, dining in Fort Dutch Hospital
Sri Lanka Daily News
30 November 2011
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[What follows is
the full text of the news story.] PAKISTAN, Nov.
30 -- Sri Lanka's latest fashion, shopping, dining experience will unfold on
December 2 at the former Dutch Hospital building in Fort opens under the
patronage of Economic Development Minister Basil Rajapaksa. Speaking to
Daily News Business, Urban Development Authority (UDA) Chairman Janaka
Kulakurusuriya said the former Dutch hospital went through a Rs 80 million
renovation and UDA with the plans to convert the former Dutch Hospital as a
shopping arcade called for proposals from interested parties to set up shops
and restaurants there. Accordingly,
Shopping Precinct will have diversified companies such as Ceylon Spa, Odel,
Barefoot, both SriLankan Airlines and SriLankan Catering, Nature's Secrets,
Hilton, Japanese and Italian restaurants and others offering an array of
services and products to customers. Published by HT Syndication with
permission from Daily News Sri Lanka. For any query with respect to this
article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com |
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ODEL to open three more
Sri Lanka Daily News
18 November 2011
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[What follows is
the full text of the news story.] Sri Lanka, Nov.
18 -- ODEL is to open three stores by the end of the year in Kandy and Dutch
Hospital Colombo 1, and will also refurbish their main store at Alexandra
Place. ODEL founder and
CEO Otara Gunewardene said with the economy growing 'business was good' and
tourist arrivals are also picking up bringing them more customers. She said they
have a very good response for the 'Embark' products both locally and
globally. An extra-special
shopping experience with a generous sprinkling of delightful surprises now
awaits shoppers at ODEL's flagship store at Alexandra Place, following the
official launch of the 'Live, Love, Laugh' theme even extends to red and
green gift vouchers, bags and chocolate wrappers. "The
seasonal makeover will soon be extended to other stores of ODEL in Sri Lanka,
the company," she said. A series of
exciting activities and other surprises are planned for shoppers at
designated sections of the store to complement the special seasonal
enhancements at ODEL Alexandra Place. "Providing a unique and
extra-special Christmas shopping experience is what excites us the most, and
improving the experience and offer each year for our customers is a challenge
we enjoy," ODEL founder and Gunewardene said. "It is our
intention to put a smile on the face of every customer coming to an ODEL
store during the season. We hope to help make this Christmas and New Year
extra memorable." ODEL has also
taken several measures to facilitate hassle-free shopping during the season
at its flagship store.SS Published by HT Syndication with permission from
Daily News Sri Lanka. For any query with respect to this article or any other
content requirement, please contact Editor at htsyndication@hindustantimes.com |
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Credit cardholders to experience cash back surprises this season
Sri Lanka Daily News
14 November 2011
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[What follows is
the full text of the news story.] Sri Lanka, Nov.
14 -- HSBC launched an innovative campaign that will surprise cardholders
each time they shop, during the festive season from November 15 until
December 31, 2011. For the first
time in the market, the new concept of rewarding cardholders through the
"Approval Code" which appears on the individual credit card slip is
set to surprise many credit cardholders with a 'Cash Back' offer. This will
enable cardholders to win up to 100% of their transaction bill value. A main
feature of the promotion is that all credit cardholders who spend a minimum
of Rupees 2,000 on their HSBC credit card on any transaction slip will be
eligible to win. The promotion
allows cardholders to be part of the winning process, as he or she could
instantly add up the six-digit Approval Code of the credit card charge slip
to calculate the winning cash back amount. The sum of these digits can range
from a minimum of 1 (when the Approval Code is 000001) to a maximum of 54
(when the Approval Code is 999999) i.e. 9 x 6 = 54. While,
cardholders are allowed to use their credit card many times over in a single day,
they will be credited with the winning rebate/s within 10 days, with the
total winning amount reflected on their credit card statement, the following
month. Add to this,
customers will be entitled to earn instant Rewards points and enjoy special
seasonal savings and offers from the Bank's diverse merchant partner network,
under the categories of fast food, clothing, lodging, dinning, travel,
electronics and household goods. Discounts
ranging from 10% - 50% with buy one get one free offers, are also featured
throughout the promotion at Ilgelato, The Bay Leaf, Jetwing Hotels, Elephant
Reach, Yala, Abans, Singer and Singer Homes, The Commons, Union Bar &
Grill, Jaic Hilton, Chaaya Blu, Trincomalee, Cotton Collection, Basics Life -
Gents Clothing, Kadapatha, DSI, Leather Collection, DL Step, Adidas, Vogue,
Odel, Mondy, Ranjanas, AMA Exclusive Saree Collection, Pride, Just U, Farlin
& Toys, The White House, Z Den and Techno Vision. Furthermore,
cardholders will enjoy 20% off at all Keells outlets on fresh vegetables,
fruits, meats and seafood from 4.00pm to 8.00pm, throughout the season and
beyond until January 15, 2012. Commenting on
this unique promotion, HSBC Heads of Cards and Consumer Assets Nadeesha
Senaratne said, "We believe in staying close to our customers and their
emerging trends. Noting that
everyone is looking forward to surprises during the season, we devised this
promotion to give our credit cardholders a chance to win cash back each time
they shop with their HSBC credit card. It also gives
them a chance to enjoy Rewards and discounts which doubles the surprise. We
hope this will be a rewarding experience for all credit cardholders this
season." During the
promotion, customers have the chance of winning up to a maximum of Rupees
100,000 on a single transaction slip. For details on the promotion and a
suite of banking products, customers can log onto www.hsbc.lk. Published by HT Syndication
with permission from Daily News Sri Lanka. For any query with respect to this
article or any other content requirement, please contact Editor at htsyndication@hindustantimes.com |
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Tremendous opportunity to market men's clothing in Sri Lanka
Sri Lanka Sunday Observer
13 November 2011
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[What follows is
the full text of the news story.] Sri Lanka, Nov.
13 -- Shimalka Bodaragama had a dream of becoming a fashion designer while
she was an air stewardess flying for SriLankan Airlines soon after completing
her Advanced Level Examination in 2006. She was a
student at Sirimavo Bandaranaike Balika Vidyalaya in Colombo 7. She drew
inspiration from her mother to become a fashion designer. Her mother too was
a fashion designer in leather goods. Shimalka ventured into fashion designing
despite her busy flight schedule. She wanted to
emulate and follow in the footsteps of her mother. Shimalka preferred to
become a fashion designer in men's clothing. Asked why she preferred men's
clothing to women's she said the potential for men's clothing was good.
"When men want to buy something they just buy without wasting time. They
do not make a fuss over it, unlike women," she said. While being
employed as a flight stewardess, she completed her diploma in fashion
designing at the Lanka Institute of Fashion Technology in 2007-2008. "I
was the only girl in my batch who took to men's fashion designing. I had the
opportunity to see fabrics and clothing while flying to Paris and
London." However, she stopped flying in 2009 to concentrate on her final
examination in fashion designing. She took a plunge into business by
manufacturing men's shirts and bags. She started her business in a small way
and it has grown during the past few years. "I design them purely on
customer preference and do not repeat the same design. I supply to Odel
fashions. Asked what her
projections for the future are she said, she intends to launch a clothing
store in the future. She also intends to revive her father's leather factory
in Seeduwa. Published by HT Syndication with permission from Sunday Observer
(Sri Lanka). For any query with respect to this article or any other content
requirement, please contact Editor at htsyndication@hindustantimes.com |
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Forty-four teams for Mercantile Sevens
Sri Lanka Sunday Observer
13 November 2011
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[What follows is
the full text of the news story.] Sri Lanka, Nov.
13 -- Forty-four teams from 39 firms have confirmed their participation for
the 41st Mercantile Rugby "Sevens" , conducted by the Mercantile
Rugby Football Association and sponsored by Dialog for the 9th successive
year, to be held on 18th, 19th and 20th November at the CR & FC grounds,
Longden Place, Colombo 7. The 10 teams
making their debut will be Nation Lanka, Expo Lanka, Mobitel, Commercial
Leasing, Nations Trust Bank, Odel, Colombo Telecom, Jabin Consultants, Rainco
and LB Finance. The 10 teams
drawn into the Cup are MAS Holdings 'A' (2010 winner), John Keells 'A' (2010
runners-up) and John Keells 'B', Sampath Bank, Dialog 'A', HSBC 'A',
Commercial Bank, Commercial Credit 'A', Access Group and Debutants, Nations
Lanka. The rest are,
MAS Holdings 'B', Janashakthi Insurance, Amana Takaful, Suntel, Hirdaramani
Group, Dialog 'B', HSBC 'B', Seylan Bank, Metropolitan Group, Standard
Chartered, Softlogic Holdings, Virtusa Corp., Ceylinco Insurance, Sri Lanka
Insurance, NDB Bank, PABC Bank, Ceylon Tea Brokers, Commercial Credit 'B',
Lanka Bell, Tri Star Apparel, Hayleys Group, Smart Shirts, Hemas Group,
Ceylon Tobacco and Entrust. Published by HT Syndication with permission from
Sunday Observer (Sri Lanka). For any query with respect to this article or
any other content requirement, please contact Editor at htsyndication@hindustantimes.com |
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Sign up, spend and win with Standard Chartered Bank
Sri Lanka Daily News
08 November 2011
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[What follows is
the full text of the news story.] Sri Lanka, Nov.
8 -- Shehani Rozairo Sanjay Wijemanne Standard
Chartered Bank with its pledge to offer innovative card solutions and
customer perks, in its latest and most attractive drive introduces the
"Get a Card, Get a Car" promotion for all new credit cardholders
starting this November through May next year. Customers are
invited to sign up for a Standard Chartered Platinum, Platinum Privilege or a
Gold Credit Card from November 08, 2011 to May 31, 2012. The first Rs. 25,000
spent with the new Credit Card qualifies cardholders to a grand draw to win a
2012 Honda Insight Hybrid Car or 100 return air tickets to Malaysia. Every
Rs. 1000 spent up to July 31, 2012 with the new Credit Card entitles a
customer to an extra chance at the draw. For example, if a customer spends
Rs. 100,000 during the promotional period he or she will get 76 chances at
the grand draw. There is no limit to the number of chances a cardholder gets.
The grand draw will be held during the fourth week of August 2012. "At
Standard Chartered, we are focused on innovative customer experiences, and
this is the reason we have introduced many 'firsts' to the market. With this
new promotion, we are rewarding our new cardholders, another first in the
market with many opportunities to win fabulous prizes," said Consumer
Banking Head Sanjay Wijemanne, at the launch of the new promotion at their
Fort branch. "Rewarding
our cardholders with a range of benefits has always been a priority for us.
The Standard Chartered Visa Platinum Card offers unsurpassed value to
cardholders. No other Credit Card rewards you with double points across all spends,
be it local or overseas. Our '360 Rewards programme through which they enjoy
the highest redemption value is just one example of how much added benefits
our customers receive through their Standard Chartered Credit Card. New
customers who apply through this promotion will be entitled to unlimited
chances at the grand draw depending on their card usage and will continue to
receive unsurpassed guaranteed value through our rewards progamme", said
Credit Cards and Loans Head Shehani Rozairo. Having pioneered
many 'firsts' in the market such as 'Loan-on-Card' an easy loan facility
given based on the available balance on the Credit Card at an interest rate
as low as 1%-1.5% per month up to 36 months, 'Zero Surcharge', a facility
that allows cardholders to enjoy zero surcharge on any airfare or travel
package at partner merchant establishments free of charge and 'Credit Ease' a
facility which will allow a Cardholder to settle other credit card payments
with the Standard Chartered Credit Card at 1.5% per month for 12 months. The
Bank offers the highest redemption value in the market on its loyalty
programme '360 Rewards Points'. Every Rewards Point is valued at Re 1.
Platinum Privilege and Gold cardholders receive one point for every Rs.200
spent on their credit card both locally and overseas while Platinum
Cardholders continue to receive as much as two Rewards Points or two frequent
flyer miles for every Rs.100 spent. Accumulated points can be redeemed at a
range of participating outlets including Avirate, Hameedia, ODEL, Mondy,
Angsana Spa, Vijitha Yapa Book Shop and any restaurant at Hilton Colombo,
Cinnamon Grand and Cinnamon Lakeside to name a few. In addition Rewards
Points are also redeemable for travel rewards on KrisFlyer, Asia Miles, Jet
Privilege and Sri Lankan Airlines. Besides these,
when cardholders book a Movie Magic ticket at Savoy and Liberty cinemas with
any Standard Chartered Credit Card, they receive their movie ticket, a Coke
and two packs of pop corn absolutely free to enhance the movie experience
while being automatically entered into a monthly draw for more surprises. For the Platinum
and Platinum Privilege credit cardholder wishing to celebrate a special
occasion or simply to pamper themselves, a savings of 20% awaits them at any
of the Bank's partner restaurants - LongFeng at the Cinnamon Lakeside, Sea
Spray at the Galle Face Hotel, and Golden Mile. In addition the Bank has
partnered with more than 10 restaurants including, Emerald and Tandoor at the
Ceylon Continental, Fortune Boat, Curry Leaves, and others on savings up to
10% applicable to all Standard Chartered Credit Cardholders till January 31,
2012. The Bank has
partnered with hotels under the Jetwing Group of Hotels, Amaya Hills-Kandy,
Amaya Lake-Dambulla, Deer Park Hotel-Giritale, Elephant Reach-Yala, Pigeon
Island Beach Resort-Trincomalee, and John Keels Hotels including Cinnamon
Lodge-Habarana, Chaaya Village-Habarana, Chaaya Citadel-Kandy, Chaaya
Blu-Trincomalee, Bentota Beach Hotel and Yala Village on 10% savings
applicable to all Standard Chartered Credit Cardholders till December 15. Sritrims
Managing Director Nishantha Delgoda, Sritrims Shenzhen Operations Manager
Tony Chong and Hong Kong Operations Head
Chandani Ranaweera at the exhibition. Published by HT Syndication with permission
from Daily News Sri Lanka. For any query with respect to this article or any
other content requirement, please contact Editor at htsyndication@hindustantimes.com |
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ODEL rewards Wattala shoppers with gift vouchers
Sri Lanka Sunday Observer
06 November 2011
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[What follows is
the full text of the news story.] Sri Lanka, Nov.
6 -- Five lucky shoppers who attended the opening of ODEL's 16th store in
Wattala were rewarded with gift vouchers. Andrea Fernando,
Anusha Christeen Kannangara, P. Praveen Pulaniyappan, Ramesh Nanthini and
Claudette Antenette Sahayam, were selected and presented with gift vouchers
by ODEL'sWattala Store Manager, Asela Habarakada in a draw conducted by the
company, Here winners of
the gift vouchers with ODEL Wattala Manager, Asela Habarakada. Published by
HT Syndication with permission from Sunday Observer (Sri Lanka). For any
query with respect to this article or any other content requirement, please
contact Editor at htsyndication@hindustantimes.com |
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Annual Income Statement
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
- |
- |
17.6 |
16.0 |
|
Gross Revenue |
29.8 |
21.2 |
17.9 |
- |
- |
|
Excise Tax Receipts |
-0.3 |
-0.2 |
-0.2 |
- |
- |
|
Revenue |
29.5 |
21.0 |
17.8 |
17.6 |
16.0 |
|
Total Revenue |
29.5 |
21.0 |
17.8 |
17.6 |
16.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
18.4 |
13.4 |
12.0 |
11.5 |
10.4 |
|
Cost of Revenue, Total |
18.4 |
13.4 |
12.0 |
11.5 |
10.4 |
|
Gross Profit |
11.1 |
7.6 |
5.8 |
6.1 |
5.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.2 |
6.7 |
5.0 |
4.6 |
4.3 |
|
Total Selling/General/Administrative Expenses |
8.2 |
6.7 |
5.0 |
4.6 |
4.3 |
|
Interest Expense -
Operating |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Interest Expense - Net Operating |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Interest Income -
Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Investment Income -
Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest/Investment Income - Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Loss (Gain) on Sale of Assets - Operating |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Other Unusual Expense (Income) |
0.0 |
-0.2 |
0.0 |
- |
- |
|
Unusual Expense (Income) |
0.0 |
-0.8 |
0.0 |
- |
- |
|
Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Other, Net |
-0.8 |
-0.6 |
-0.6 |
-0.5 |
-0.3 |
|
Other Operating Expenses, Total |
-0.8 |
-0.6 |
-0.6 |
-0.5 |
-0.3 |
|
Total Operating Expense |
26.3 |
19.2 |
17.2 |
16.4 |
14.9 |
|
|
|
|
|
|
|
|
Operating Income |
3.2 |
1.8 |
0.6 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Income Before Tax |
3.2 |
1.8 |
0.6 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.3 |
0.6 |
0.3 |
0.6 |
0.3 |
|
Income After Tax |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Diluted Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Depreciation, Supplemental |
0.6 |
0.4 |
0.4 |
- |
- |
|
Total Special Items |
0.0 |
-0.8 |
0.5 |
- |
- |
|
Normalized Income Before Tax |
3.2 |
1.0 |
1.1 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
-0.3 |
0.3 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
1.3 |
0.3 |
0.6 |
0.6 |
0.3 |
|
Normalized Income After Tax |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Amort of Intangibles, Supplemental |
0.1 |
0.1 |
0.1 |
- |
- |
|
Advertising Expense, Supplemental |
- |
- |
0.4 |
- |
- |
|
Normalized EBIT |
3.7 |
1.6 |
1.9 |
1.9 |
1.6 |
|
Normalized EBITDA |
4.3 |
2.0 |
2.3 |
1.9 |
1.6 |
|
Current Tax - Domestic |
1.2 |
0.7 |
0.4 |
- |
- |
|
Current Tax - Other |
0.1 |
0.0 |
0.0 |
- |
- |
|
Current Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Deferred Tax - Domestic |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Tax - Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Income Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Interest Cost - Domestic |
0.0 |
0.0 |
- |
- |
- |
|
Service Cost - Domestic |
0.0 |
0.1 |
- |
- |
- |
|
Transition Costs - Domestic |
-0.1 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.0 |
0.1 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.2 |
0.2 |
0.2 |
- |
- |
|
Total Pension Expense |
0.2 |
0.3 |
0.2 |
- |
- |
|
Discount Rate - Domestic |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic |
9.00% |
10.00% |
10.00% |
- |
- |
|
Total Plan Interest Cost |
0.0 |
0.0 |
- |
- |
- |
|
Total Plan Service Cost |
0.0 |
0.1 |
- |
- |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate |
110.395 |
114.05 |
115.725 |
107.8 |
109 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
0.2 |
0.2 |
0.2 |
- |
- |
|
Short Term Investments |
1.2 |
0.8 |
0.3 |
- |
- |
|
Cash and Short Term Investments |
1.4 |
1.1 |
0.5 |
- |
- |
|
Trade Accounts Receivable - Net |
0.0 |
0.1 |
0.1 |
- |
- |
|
Other Receivables |
0.2 |
0.2 |
0.5 |
0.6 |
1.2 |
|
Total Receivables, Net |
0.2 |
0.3 |
0.6 |
0.6 |
1.2 |
|
Inventories - Finished Goods |
- |
5.7 |
3.5 |
- |
- |
|
Total Inventory |
9.4 |
5.7 |
3.5 |
3.8 |
3.1 |
|
Deferred Income Tax - Current Asset |
- |
- |
0.1 |
- |
- |
|
Other Current Assets |
- |
- |
- |
0.3 |
0.4 |
|
Other Current Assets, Total |
- |
- |
0.1 |
0.3 |
0.4 |
|
Total Current Assets |
11.0 |
7.1 |
4.8 |
4.7 |
4.6 |
|
|
|
|
|
|
|
|
Buildings |
2.7 |
2.4 |
1.6 |
- |
- |
|
Land/Improvements |
12.1 |
9.3 |
5.1 |
- |
- |
|
Machinery/Equipment |
5.1 |
4.0 |
2.9 |
- |
- |
|
Property/Plant/Equipment - Gross |
19.8 |
15.8 |
9.5 |
- |
- |
|
Accumulated Depreciation |
-2.6 |
-1.9 |
-1.7 |
- |
- |
|
Property/Plant/Equipment - Net |
17.3 |
13.8 |
7.8 |
- |
- |
|
Goodwill, Net |
0.0 |
0.0 |
- |
- |
- |
|
Intangibles - Gross |
0.3 |
0.3 |
0.2 |
- |
- |
|
Accumulated Intangible Amortization |
-0.2 |
-0.2 |
-0.1 |
- |
- |
|
Intangibles, Net |
0.1 |
0.1 |
0.2 |
- |
- |
|
LT Investments - Other |
- |
- |
0.3 |
- |
- |
|
Long Term Investments |
- |
- |
0.3 |
- |
- |
|
Other Long Term Assets |
- |
- |
- |
8.5 |
7.9 |
|
Other Long Term Assets, Total |
- |
- |
- |
8.5 |
7.9 |
|
Total Assets |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.7 |
3.2 |
2.0 |
2.6 |
2.7 |
|
Payable/Accrued |
1.3 |
1.4 |
0.9 |
- |
- |
|
Notes Payable/Short Term Debt |
3.3 |
2.6 |
2.6 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
2.2 |
1.1 |
0.7 |
2.7 |
1.5 |
|
Dividends Payable |
- |
- |
0.0 |
- |
- |
|
Income Taxes Payable |
0.6 |
0.3 |
0.0 |
- |
- |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.2 |
0.2 |
|
Other Current liabilities, Total |
0.6 |
0.3 |
0.0 |
0.2 |
0.2 |
|
Total Current Liabilities |
10.2 |
8.6 |
6.2 |
5.4 |
4.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
2.9 |
1.2 |
1.0 |
1.7 |
2.6 |
|
Capital Lease Obligations |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Long Term Debt |
2.9 |
1.3 |
1.0 |
1.7 |
2.6 |
|
Total Debt |
8.4 |
5.0 |
4.3 |
4.4 |
4.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.4 |
0.4 |
0.2 |
- |
- |
|
Deferred Income Tax |
0.4 |
0.4 |
0.2 |
- |
- |
|
Minority Interest |
- |
- |
0.0 |
0.0 |
0.0 |
|
Pension Benefits - Underfunded |
0.2 |
0.3 |
- |
- |
- |
|
Other Long Term Liabilities |
- |
- |
0.2 |
0.5 |
0.5 |
|
Other Liabilities, Total |
0.2 |
0.3 |
0.2 |
0.5 |
0.5 |
|
Total Liabilities |
13.7 |
10.5 |
7.6 |
7.6 |
7.5 |
|
|
|
|
|
|
|
|
Common Stock |
2.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Common Stock |
2.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings (Accumulated Deficit) |
7.2 |
5.4 |
5.4 |
5.6 |
5.0 |
|
Other Comprehensive Income |
5.2 |
5.0 |
0.0 |
0.0 |
0.0 |
|
Other Equity, Total |
5.2 |
5.0 |
0.0 |
0.0 |
0.0 |
|
Total Equity |
14.7 |
10.5 |
5.4 |
5.6 |
5.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Total Common Shares Outstanding |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Employees |
750 |
- |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.2 |
0.2 |
0.1 |
- |
- |
|
Total Long Term Debt, Supplemental |
8.4 |
4.9 |
4.3 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
5.5 |
3.7 |
3.3 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
2.9 |
1.2 |
1.0 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
2.9 |
1.2 |
1.0 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Costs |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
0.2 |
0.3 |
0.2 |
- |
- |
|
Funded Status - Domestic |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Total Funded Status |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Discount Rate - Domestic |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic |
9.00% |
10.00% |
10.00% |
- |
- |
|
Accrued Liabilities - Domestic |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Total Plan Obligations |
0.2 |
0.3 |
0.2 |
- |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
3.2 |
1.8 |
0.6 |
- |
- |
|
Depreciation |
0.6 |
0.4 |
0.4 |
- |
- |
|
Depreciation/Depletion |
0.6 |
0.4 |
0.4 |
- |
- |
|
Amortization of Intangibles |
0.1 |
0.1 |
0.1 |
- |
- |
|
Amortization |
0.1 |
0.1 |
0.1 |
- |
- |
|
Unusual Items |
0.0 |
-0.4 |
0.5 |
- |
- |
|
Other Non-Cash Items |
0.6 |
0.7 |
0.9 |
- |
- |
|
Non-Cash Items |
0.6 |
0.4 |
1.4 |
- |
- |
|
Accounts Receivable |
-0.2 |
0.3 |
-0.2 |
- |
- |
|
Inventories |
-3.4 |
-2.1 |
-0.5 |
- |
- |
|
Accounts Payable |
-0.8 |
1.1 |
0.6 |
- |
- |
|
Other Operating Cash Flow |
-1.5 |
-0.9 |
-1.4 |
0.5 |
0.9 |
|
Changes in Working Capital |
-5.9 |
-1.6 |
-1.6 |
0.5 |
0.9 |
|
Cash from Operating Activities |
-1.6 |
1.1 |
0.8 |
0.5 |
0.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-3.5 |
-1.2 |
-0.4 |
-0.5 |
-0.4 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Capital Expenditures |
-3.5 |
-1.2 |
-0.4 |
-0.7 |
-0.5 |
|
Sale of Business |
0.0 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
0.7 |
0.0 |
0.0 |
0.0 |
|
Investment, Net |
0.0 |
-0.1 |
-0.3 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.8 |
-0.3 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.5 |
-0.4 |
-0.7 |
-0.7 |
-0.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
2.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
-0.3 |
-1.3 |
-0.1 |
-0.1 |
0.0 |
|
Long Term Debt Issued |
6.2 |
1.4 |
0.3 |
0.5 |
0.2 |
|
Long Term Debt
Reduction |
-3.6 |
-0.7 |
-0.9 |
-0.9 |
-1.0 |
|
Long Term Debt, Net |
2.6 |
0.7 |
-0.6 |
-0.4 |
-0.8 |
|
Issuance (Retirement) of Debt, Net |
2.6 |
0.7 |
-0.6 |
-0.4 |
-0.8 |
|
Cash from Financing Activities |
4.5 |
-0.6 |
-0.7 |
-0.5 |
-0.8 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-0.6 |
0.1 |
-0.7 |
-0.7 |
-0.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
-2.4 |
-2.4 |
-1.8 |
-1.2 |
-0.9 |
|
Net Cash - Ending Balance |
-3.0 |
-2.3 |
-2.5 |
-1.8 |
-1.2 |
|
Cash Interest Paid |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Cash Taxes Paid |
0.9 |
0.3 |
0.6 |
0.6 |
0.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales-Local |
29.8 |
21.2 |
17.8 |
- |
- |
|
Sales-Exports |
0.0 |
0.0 |
0.2 |
- |
- |
|
Turnover Tax |
-0.3 |
-0.2 |
-0.2 |
- |
- |
|
Revenue |
- |
- |
- |
17.6 |
16.0 |
|
Total Revenue |
29.5 |
21.0 |
17.8 |
17.6 |
16.0 |
|
|
|
|
|
|
|
|
Cost Of Sales |
18.4 |
13.4 |
12.0 |
11.5 |
10.4 |
|
Other Operating Income |
- |
- |
- |
-0.5 |
-0.3 |
|
Rental Income |
-0.6 |
-0.6 |
-0.6 |
- |
- |
|
Interest Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Profit On Disposal Of Property,Plant & E |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Dividend Income |
0.0 |
- |
0.0 |
- |
- |
|
Advertising Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Commission Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Sundry Income |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Management Fee |
0.0 |
0.0 |
0.0 |
- |
- |
|
Exchange Fee |
0.0 |
0.0 |
0.0 |
- |
- |
|
Unclaimed Creditors Written Back |
0.0 |
-0.2 |
0.0 |
- |
- |
|
Exchange Gain/Loss On Disposal Of Shares |
0.0 |
0.0 |
0.0 |
- |
- |
|
Service Income - Otone |
0.0 |
0.0 |
- |
- |
- |
|
Distribution Costs |
1.7 |
1.5 |
0.9 |
1.1 |
1.2 |
|
Administrative Expenses |
6.6 |
5.1 |
4.2 |
3.5 |
3.1 |
|
Interest Expenses On Overdraft |
0.2 |
0.4 |
0.4 |
- |
- |
|
Interest Expenses On Loans & Borrowings |
0.4 |
0.2 |
0.4 |
- |
- |
|
Bank Charges |
- |
- |
0.0 |
- |
- |
|
Lease Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Finance Cost |
- |
- |
- |
0.7 |
0.5 |
|
Total Operating Expense |
26.3 |
19.2 |
17.2 |
16.4 |
14.9 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
3.2 |
1.8 |
0.6 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.3 |
0.6 |
0.3 |
0.6 |
0.3 |
|
Net Income After Taxes |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extra. Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Diluted Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3.2 |
1.0 |
1.1 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.3 |
0.3 |
0.6 |
0.6 |
0.3 |
|
Normalized Income After Taxes |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Interest Expense, Supplemental |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Depreciation, Supplemental |
0.6 |
0.4 |
0.4 |
- |
- |
|
Amort of Intangibles, Supplemental |
0.1 |
0.1 |
0.1 |
- |
- |
|
Advertising Expense, Supplemental |
- |
- |
0.4 |
- |
- |
|
Current Tax |
1.2 |
0.7 |
0.4 |
- |
- |
|
Under Provision Of Current Tax |
0.1 |
0.0 |
0.0 |
- |
- |
|
Current Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Deferred Tax |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Tax - Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Income Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Service Cost - Domestic |
0.0 |
0.1 |
- |
- |
- |
|
Interest Cost - Domestic |
0.0 |
0.0 |
- |
- |
- |
|
Transition Costs - Domestic |
-0.1 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.0 |
0.1 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.2 |
0.2 |
0.2 |
- |
- |
|
Total Pension Expense |
0.2 |
0.3 |
0.2 |
- |
- |
|
Discount Rate - Domestic% |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic% |
9.00% |
10.00% |
10.00% |
- |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate |
110.395 |
114.05 |
115.725 |
107.8 |
109 |
|
Auditor |
Ernst & Young
Chartered Accountants (Zimbabwe) |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods |
- |
5.7 |
3.5 |
- |
- |
|
Goods In Transit |
- |
0.0 |
0.0 |
- |
- |
|
Trade Debtors |
0.0 |
0.1 |
0.1 |
- |
- |
|
Other Debtors |
0.2 |
0.2 |
0.3 |
- |
- |
|
Deposits & Prepayments |
1.2 |
0.8 |
0.3 |
- |
- |
|
Income Tax Refund Due |
- |
- |
0.1 |
- |
- |
|
Amounts Due From Subsidiaries |
- |
- |
0.3 |
- |
- |
|
Amounts Due From Related Companies |
- |
- |
0.0 |
- |
- |
|
Cash & Bank Balances |
0.2 |
0.2 |
0.2 |
- |
- |
|
Inventories |
9.4 |
- |
- |
3.8 |
3.1 |
|
Trade & Other Receivables |
- |
- |
- |
0.6 |
1.2 |
|
Other Current Assets |
- |
- |
- |
0.3 |
0.4 |
|
Total Current Assets |
11.0 |
7.1 |
4.8 |
4.7 |
4.6 |
|
|
|
|
|
|
|
|
Goodwill, Net |
0.0 |
0.0 |
- |
- |
- |
|
Land |
2.4 |
0.0 |
5.1 |
- |
- |
|
Landscaping |
0.0 |
0.0 |
0.0 |
- |
- |
|
Building |
0.0 |
0.0 |
1.1 |
- |
- |
|
Building-Lease Hold |
0.5 |
0.4 |
0.1 |
- |
- |
|
Office Equiment |
1.1 |
0.9 |
0.6 |
- |
- |
|
Fixtures-Other |
0.7 |
0.7 |
0.6 |
- |
- |
|
Fixtures-Air Conditions |
0.1 |
0.1 |
0.1 |
- |
- |
|
Furniture |
0.7 |
0.4 |
0.2 |
- |
- |
|
Computer Equipment |
0.6 |
0.5 |
0.4 |
- |
- |
|
Office Equipment-Other |
0.1 |
0.1 |
0.1 |
- |
- |
|
Shop Fittings-Fixtures |
1.4 |
0.9 |
0.5 |
- |
- |
|
Shop Fittings-Mobiles |
0.2 |
0.2 |
0.2 |
- |
- |
|
Motor Vehicles |
0.2 |
0.2 |
0.2 |
- |
- |
|
Motor Vehicles-Lease |
0.0 |
0.0 |
0.0 |
- |
- |
|
Land |
9.6 |
9.3 |
0.0 |
- |
- |
|
Building |
2.0 |
1.9 |
0.0 |
- |
- |
|
Building Work In Progress |
- |
- |
0.3 |
- |
- |
|
Capital Work In Progress |
0.2 |
0.2 |
0.0 |
- |
- |
|
Accumulated Depreciation |
-2.6 |
-1.9 |
-1.7 |
- |
- |
|
Inventories,Gross |
0.3 |
0.3 |
0.2 |
- |
- |
|
Accumulated Intangible |
-0.2 |
-0.2 |
-0.1 |
- |
- |
|
Investment In Backstage Retail Pvt Ltd |
- |
- |
0.3 |
- |
- |
|
Non-Current Assets |
- |
- |
- |
8.5 |
7.9 |
|
Total Assets |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
Trade Payables |
2.7 |
3.2 |
1.9 |
- |
- |
|
Sundry Creditors Including Accrued Expen |
1.3 |
1.4 |
0.9 |
- |
- |
|
Odel Foundation Trust |
0.0 |
0.0 |
0.0 |
- |
- |
|
Amounts Due To Related Parties |
0.0 |
0.0 |
0.2 |
- |
- |
|
Income Tax Payables |
0.6 |
0.3 |
0.0 |
- |
- |
|
Dividend Payables |
- |
- |
0.0 |
- |
- |
|
Trade & Other Payables |
- |
- |
- |
2.6 |
2.7 |
|
Bank Loan |
2.2 |
1.1 |
0.7 |
2.7 |
1.5 |
|
Lease Creditors |
0.0 |
0.0 |
0.0 |
- |
- |
|
Bank Overdrafts |
3.3 |
2.6 |
2.6 |
- |
- |
|
Other Current Liabilities |
- |
- |
- |
0.2 |
0.2 |
|
Total Current Liabilities |
10.2 |
8.6 |
6.2 |
5.4 |
4.4 |
|
|
|
|
|
|
|
|
Bank Loans |
2.9 |
1.2 |
1.0 |
1.7 |
2.6 |
|
Lease Crediotrs |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Long Term Debt |
2.9 |
1.3 |
1.0 |
1.7 |
2.6 |
|
|
|
|
|
|
|
|
Deferred Tax Liabilities |
0.4 |
0.4 |
0.2 |
- |
- |
|
Retirement Benefit Liabilities |
0.2 |
0.3 |
- |
- |
- |
|
Other Deferred Liabilities |
- |
- |
0.2 |
- |
- |
|
Minority Interest |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Non-Current Liabilities |
- |
- |
- |
0.5 |
0.5 |
|
Total Liabilities |
13.7 |
10.5 |
7.6 |
7.6 |
7.5 |
|
|
|
|
|
|
|
|
Share Capital |
2.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Surplus |
5.2 |
5.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
7.2 |
5.4 |
5.4 |
5.6 |
5.0 |
|
Total Equity |
14.7 |
10.5 |
5.4 |
5.6 |
5.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Total Common Shares Outstanding |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Accumulated Intangible Amort, Suppl. |
0.2 |
0.2 |
0.1 |
- |
- |
|
Full-Time Employees |
750 |
- |
- |
- |
- |
|
Long Term Debt Maturing within 1 Year |
5.5 |
3.7 |
3.3 |
- |
- |
|
Long Term Debt Maturing After 1 Year |
2.9 |
1.2 |
1.0 |
- |
- |
|
Total Long Term Debt, Supplemental |
8.4 |
4.9 |
4.3 |
- |
- |
|
Capital Lease Payments Due within 1 Year |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due Within 1-5 Ye |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Costs |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
Projected Funded Status |
0.2 |
0.3 |
0.2 |
- |
- |
|
Funded Status - Domestic |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Total Funded Status |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Discount Rate - Domestic% |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic% |
9.00% |
10.00% |
10.00% |
- |
- |
|
Defined Benefit Obligation |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
|
|
Annual Cash
Flows |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
3.2 |
1.8 |
0.6 |
- |
- |
|
Depreciation |
0.6 |
0.4 |
0.4 |
- |
- |
|
Intangible Assets Amortization |
0.1 |
0.1 |
0.1 |
- |
- |
|
Income From Investments |
0.0 |
0.0 |
0.0 |
- |
- |
|
Finance Costs |
0.6 |
0.6 |
0.8 |
- |
- |
|
Inventory Written Off |
- |
0.0 |
0.6 |
- |
- |
|
Profit On Disposal Of Equity Investment |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Gain On Disposal Of Equity Investment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Impairment Loss |
0.0 |
0.3 |
0.0 |
- |
- |
|
Unrealized Loss |
- |
0.0 |
0.0 |
- |
- |
|
Provisions For Doubtfull Debt |
- |
0.0 |
0.0 |
- |
- |
|
Provisions For Define Benefit Plans |
0.0 |
0.1 |
0.0 |
- |
- |
|
Lease Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Decrease/Increase In Inventories |
-3.4 |
-2.1 |
-0.5 |
- |
- |
|
Decrease/Increase In Trade & Other Recei |
-0.2 |
0.0 |
0.0 |
- |
- |
|
Decrease/Increase In Due From Related pa |
0.0 |
0.3 |
-0.2 |
- |
- |
|
Decrease/Increase In Due To Related pa |
0.0 |
-0.3 |
0.0 |
- |
- |
|
Decrease In Trade & Other Payables |
-0.8 |
1.4 |
0.6 |
- |
- |
|
Cash Generated From Operations |
- |
- |
- |
1.8 |
1.9 |
|
Finance Cost Paid |
-0.6 |
-0.6 |
-0.8 |
-0.7 |
-0.5 |
|
Defined Benefit Plan Costs Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Tax Paid |
-0.9 |
-0.3 |
-0.6 |
-0.6 |
-0.5 |
|
Cash from Operating Activities |
-1.6 |
1.1 |
0.8 |
0.5 |
0.9 |
|
|
|
|
|
|
|
|
Acquisition Of Property,Plant & Equipmen |
-3.5 |
-1.2 |
-0.4 |
-0.5 |
-0.4 |
|
Acquisition Of Intangile Assets |
0.0 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Net Increase In Capital Work In Progress |
0.0 |
-0.2 |
0.0 |
0.0 |
0.0 |
|
Proceeds From Disposal Of Fixed Assets |
0.0 |
0.7 |
0.0 |
0.0 |
0.0 |
|
Investment In Subsidiaries |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Investment In Backstage Singapore |
- |
0.0 |
-0.3 |
0.0 |
0.0 |
|
Proceeds From Disposal Of Investment |
0.0 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Investment Income Received |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.5 |
-0.4 |
-0.7 |
-0.7 |
-0.4 |
|
|
|
|
|
|
|
|
Repayment Of Interest Bearing Borrowings |
-3.6 |
-0.7 |
-0.9 |
-0.9 |
-1.0 |
|
Proceeds From Interest Bearing Borrowing |
6.2 |
1.4 |
0.3 |
0.5 |
0.2 |
|
Lease Rental Paid-Vehicle |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loan Settlement-Director |
2.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend Paid |
-0.3 |
-1.3 |
-0.1 |
-0.1 |
0.0 |
|
Cash from Financing Activities |
4.5 |
-0.6 |
-0.7 |
-0.5 |
-0.8 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-0.6 |
0.1 |
-0.7 |
-0.7 |
-0.3 |
|
|
|
|
|
|
|
|
Cash,Begining Of Year |
-2.4 |
-2.4 |
-1.8 |
-1.2 |
-0.9 |
|
Cash,End Of Year |
-3.0 |
-2.3 |
-2.5 |
-1.8 |
-1.2 |
|
Cash Interest Paid |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Cash Taxes Paid |
0.9 |
0.3 |
0.6 |
0.6 |
0.5 |
Financial Health
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
Key Indicators USD (mil) |
||||||
|
 |
Quarter |
Quarter |
Annual |
1 Year |
3 Year |
5 Year |
|
Total Revenue1
(?) |
15.8 |
13.38% |
29.5 |
36.88% |
19.44% |
15.95% |
|
Operating Income1
(?) |
1.4 |
-6.74% |
3.2 |
67.61% |
37.97% |
35.62% |
|
Income Available to Common Excl Extraord Items1 (?) |
1.1 |
21.44% |
1.9 |
47.33% |
46.11% |
47.95% |
|
Basic EPS Excl Extraord Items1 (?) |
0.01 |
15.61% |
0.01 |
47.33% |
41.87% |
45.36% |
|
Capital Expenditures2 (?) |
2.0 |
215.37% |
3.5 |
183.27% |
72.95% |
-4.25% |
|
Cash from Operating Activities2 (?) |
-0.8 |
- |
-1.6 |
- |
- |
- |
|
Free Cash Flow
(?) |
-2.7 |
- |
-5.2 |
- |
- |
- |
|
Total Assets3
(?) |
32.3 |
- |
28.4 |
30.81% |
29.83% |
21.31% |
|
Total Liabilities3 (?) |
16.8 |
- |
13.7 |
25.95% |
22.36% |
15.98% |
|
Total Long Term Debt3 (?) |
3.3 |
- |
2.9 |
125.81% |
19.94% |
0.08% |
|
Employees3
(?) |
- |
- |
750 |
- |
- |
- |
|
Total Common Shares Outstanding3 (?) |
145.0 |
- |
145.0 |
13.02% |
4.16% |
2.48% |
|
1-ExchangeRate: LKR to USD Average for Period |
109.854270 |
 |
112.156148 |
 |
 |
 |
|
2-ExchangeRate: LKR to USD Average for Period |
109.854270 |
 |
112.156148 |
 |
 |
 |
|
3-ExchangeRate: LKR to USD Period End Date |
110.200000 |
 |
110.395000 |
 |
 |
 |
|
Key Ratios |
|||||
|
 |
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Profitability |
|||||
|
Gross Margin
(?) |
37.68% |
36.18% |
32.65% |
34.56% |
34.93% |
|
Operating Margin
(?) |
10.71% |
8.74% |
3.25% |
6.95% |
6.58% |
|
Pretax Margin
(?) |
10.71% |
8.74% |
3.25% |
6.95% |
6.58% |
|
Net Profit Margin
(?) |
6.32% |
5.87% |
1.76% |
3.45% |
4.45% |
|
Financial Strength |
|||||
|
Current Ratio
(?) |
1.08 |
0.82 |
0.77 |
0.87 |
1.05 |
|
Long Term Debt/Equity (?) |
0.20 |
0.12 |
0.18 |
0.31 |
0.52 |
|
Total Debt/Equity
(?) |
0.57 |
0.47 |
0.78 |
0.78 |
0.81 |
|
Management Effectiveness |
|||||
|
Return on Assets
(?) |
7.56% |
7.21% |
2.19% |
4.76% |
5.86% |
|
Return on Equity
(?) |
14.82% |
15.53% |
5.54% |
11.59% |
14.67% |
|
Efficiency |
|||||
|
Receivables Turnover (?) |
113.77 |
45.93 |
28.11 |
20.21 |
18.03 |
|
Inventory Turnover (?) |
2.44 |
2.90 |
3.21 |
3.40 |
3.54 |
|
Asset Turnover
(?) |
1.20 |
1.24 |
1.33 |
1.39 |
1.32 |
|
Market Valuation USD (mil) |
||||
|
P/E (TTM)
(?) |
18.17 |
. |
Enterprise Value2
(?) |
50.1 |
|
Price/Sales (TTM)
(?) |
1.22 |
. |
Enterprise Value/Revenue (TTM) (?) |
1.57 |
|
Price/Book (MRQ)
(?) |
2.50 |
. |
Enterprise Value/EBITDA (TTM) (?) |
11.03 |
|
Market Cap as of 25-Nov-20111 (?) |
37.5 |
. |
|
|
|
1-ExchangeRate: LKR to USD on 25-Nov-2011 |
113.900000 |
|
|
|
|
2-ExchangeRate: LKR to USD on 30-Sep-2011 |
110.200000 |
|
|
|
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
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|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
- |
- |
17.6 |
16.0 |
|
Gross Revenue |
29.8 |
21.2 |
17.9 |
- |
- |
|
Excise Tax Receipts |
-0.3 |
-0.2 |
-0.2 |
- |
- |
|
Revenue |
29.5 |
21.0 |
17.8 |
17.6 |
16.0 |
|
Total Revenue |
29.5 |
21.0 |
17.8 |
17.6 |
16.0 |
|
|
|
|
|
|
|
|
Cost of Revenue |
18.4 |
13.4 |
12.0 |
11.5 |
10.4 |
|
Cost of Revenue, Total |
18.4 |
13.4 |
12.0 |
11.5 |
10.4 |
|
Gross Profit |
11.1 |
7.6 |
5.8 |
6.1 |
5.6 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
8.2 |
6.7 |
5.0 |
4.6 |
4.3 |
|
Total Selling/General/Administrative Expenses |
8.2 |
6.7 |
5.0 |
4.6 |
4.3 |
|
Interest Expense -
Operating |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Interest Expense - Net Operating |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Interest Income -
Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Investment Income -
Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest/Investment Income - Operating |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Expense (Income) - Net Operating Total |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Loss (Gain) on Sale of Assets - Operating |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Other Unusual Expense (Income) |
0.0 |
-0.2 |
0.0 |
- |
- |
|
Unusual Expense (Income) |
0.0 |
-0.8 |
0.0 |
- |
- |
|
Other Operating Expense |
- |
- |
0.0 |
- |
- |
|
Other, Net |
-0.8 |
-0.6 |
-0.6 |
-0.5 |
-0.3 |
|
Other Operating Expenses, Total |
-0.8 |
-0.6 |
-0.6 |
-0.5 |
-0.3 |
|
Total Operating Expense |
26.3 |
19.2 |
17.2 |
16.4 |
14.9 |
|
|
|
|
|
|
|
|
Operating Income |
3.2 |
1.8 |
0.6 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Income Before Tax |
3.2 |
1.8 |
0.6 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.3 |
0.6 |
0.3 |
0.6 |
0.3 |
|
Income After Tax |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extraord Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Diluted Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Expense, Supplemental |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Depreciation, Supplemental |
0.6 |
0.4 |
0.4 |
- |
- |
|
Total Special Items |
0.0 |
-0.8 |
0.5 |
- |
- |
|
Normalized Income Before Tax |
3.2 |
1.0 |
1.1 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.0 |
-0.3 |
0.3 |
- |
- |
|
Inc Tax Ex Impact of Sp Items |
1.3 |
0.3 |
0.6 |
0.6 |
0.3 |
|
Normalized Income After Tax |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Amort of Intangibles, Supplemental |
0.1 |
0.1 |
0.1 |
- |
- |
|
Advertising Expense, Supplemental |
- |
- |
0.4 |
- |
- |
|
Normalized EBIT |
3.7 |
1.6 |
1.9 |
1.9 |
1.6 |
|
Normalized EBITDA |
4.3 |
2.0 |
2.3 |
1.9 |
1.6 |
|
Current Tax - Domestic |
1.2 |
0.7 |
0.4 |
- |
- |
|
Current Tax - Other |
0.1 |
0.0 |
0.0 |
- |
- |
|
Current Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Deferred Tax - Domestic |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Tax - Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Income Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Interest Cost - Domestic |
0.0 |
0.0 |
- |
- |
- |
|
Service Cost - Domestic |
0.0 |
0.1 |
- |
- |
- |
|
Transition Costs - Domestic |
-0.1 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.0 |
0.1 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.2 |
0.2 |
0.2 |
- |
- |
|
Total Pension Expense |
0.2 |
0.3 |
0.2 |
- |
- |
|
Discount Rate - Domestic |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic |
9.00% |
10.00% |
10.00% |
- |
- |
|
Total Plan Interest Cost |
0.0 |
0.0 |
- |
- |
- |
|
Total Plan Service Cost |
0.0 |
0.1 |
- |
- |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Sep-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
3 Months |
3 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Special
|
Reclassified
Calculated |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
109.85427 |
110.713077 |
111.478925 |
113.209 |
113.759516 |
|
|
|
|
|
|
|
|
Net Sales |
15.8 |
7.4 |
8.6 |
13.5 |
6.1 |
|
Revenue |
15.8 |
7.4 |
8.6 |
13.5 |
6.1 |
|
Total Revenue |
15.8 |
7.4 |
8.6 |
13.5 |
6.1 |
|
|
|
|
|
|
|
|
Cost of Revenue |
9.5 |
4.9 |
5.2 |
8.3 |
3.8 |
|
Cost of Revenue, Total |
9.5 |
4.9 |
5.2 |
8.3 |
3.8 |
|
Gross Profit |
6.2 |
2.5 |
3.4 |
5.2 |
2.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
4.8 |
2.0 |
2.4 |
3.9 |
1.8 |
|
Total Selling/General/Administrative Expenses |
4.8 |
2.0 |
2.4 |
3.9 |
1.8 |
|
Interest Expense (Income) - Net Operating |
0.4 |
0.2 |
0.2 |
0.3 |
0.1 |
|
Interest Expense (Income) - Net Operating Total |
0.4 |
0.2 |
0.2 |
0.3 |
0.1 |
|
Other, Net |
-0.4 |
-0.3 |
-0.2 |
-0.4 |
-0.2 |
|
Other Operating Expenses, Total |
-0.4 |
-0.3 |
-0.2 |
-0.4 |
-0.2 |
|
Total Operating Expense |
14.4 |
6.8 |
7.5 |
12.0 |
5.6 |
|
|
|
|
|
|
|
|
Operating Income |
1.4 |
0.6 |
1.1 |
1.5 |
0.5 |
|
|
|
|
|
|
|
|
Income Before Tax |
1.4 |
0.6 |
1.1 |
1.5 |
0.5 |
|
|
|
|
|
|
|
|
Total Income Tax |
0.3 |
0.3 |
0.4 |
0.6 |
0.2 |
|
Income After Tax |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
|
Net Income Before Extraord Items |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
Net Income |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
145.0 |
146.5 |
135.8 |
138.0 |
147.0 |
|
Basic EPS Excl Extraord Items |
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
|
Basic/Primary EPS Incl Extraord Items |
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
|
Diluted Net Income |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
Diluted Weighted Average Shares |
145.0 |
146.5 |
135.8 |
138.0 |
147.0 |
|
Diluted EPS Excl Extraord Items |
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
|
Diluted EPS Incl Extraord Items |
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
0.0 |
- |
0.0 |
- |
0.0 |
|
Depreciation, Supplemental |
0.3 |
0.2 |
0.1 |
0.3 |
0.1 |
|
Normalized Income Before Tax |
1.4 |
0.6 |
1.1 |
1.5 |
0.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.3 |
0.3 |
0.4 |
0.6 |
0.2 |
|
Normalized Income After Tax |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.1 |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
|
Diluted Normalized EPS |
0.01 |
0.00 |
0.01 |
0.01 |
0.00 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
29.4 |
0.0 |
|
Normalized EBIT |
1.8 |
0.8 |
1.3 |
1.7 |
0.7 |
|
Normalized EBITDA |
2.2 |
0.9 |
1.4 |
31.4 |
0.8 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate |
110.395 |
114.05 |
115.725 |
107.8 |
109 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
0.2 |
0.2 |
0.2 |
- |
- |
|
Short Term Investments |
1.2 |
0.8 |
0.3 |
- |
- |
|
Cash and Short Term Investments |
1.4 |
1.1 |
0.5 |
- |
- |
|
Trade Accounts Receivable - Net |
0.0 |
0.1 |
0.1 |
- |
- |
|
Other Receivables |
0.2 |
0.2 |
0.5 |
0.6 |
1.2 |
|
Total Receivables, Net |
0.2 |
0.3 |
0.6 |
0.6 |
1.2 |
|
Inventories - Finished Goods |
- |
5.7 |
3.5 |
- |
- |
|
Total Inventory |
9.4 |
5.7 |
3.5 |
3.8 |
3.1 |
|
Deferred Income Tax - Current Asset |
- |
- |
0.1 |
- |
- |
|
Other Current Assets |
- |
- |
- |
0.3 |
0.4 |
|
Other Current Assets, Total |
- |
- |
0.1 |
0.3 |
0.4 |
|
Total Current Assets |
11.0 |
7.1 |
4.8 |
4.7 |
4.6 |
|
|
|
|
|
|
|
|
Buildings |
2.7 |
2.4 |
1.6 |
- |
- |
|
Land/Improvements |
12.1 |
9.3 |
5.1 |
- |
- |
|
Machinery/Equipment |
5.1 |
4.0 |
2.9 |
- |
- |
|
Property/Plant/Equipment - Gross |
19.8 |
15.8 |
9.5 |
- |
- |
|
Accumulated Depreciation |
-2.6 |
-1.9 |
-1.7 |
- |
- |
|
Property/Plant/Equipment - Net |
17.3 |
13.8 |
7.8 |
- |
- |
|
Goodwill, Net |
0.0 |
0.0 |
- |
- |
- |
|
Intangibles - Gross |
0.3 |
0.3 |
0.2 |
- |
- |
|
Accumulated Intangible Amortization |
-0.2 |
-0.2 |
-0.1 |
- |
- |
|
Intangibles, Net |
0.1 |
0.1 |
0.2 |
- |
- |
|
LT Investments - Other |
- |
- |
0.3 |
- |
- |
|
Long Term Investments |
- |
- |
0.3 |
- |
- |
|
Other Long Term Assets |
- |
- |
- |
8.5 |
7.9 |
|
Other Long Term Assets, Total |
- |
- |
- |
8.5 |
7.9 |
|
Total Assets |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
Accounts Payable |
2.7 |
3.2 |
2.0 |
2.6 |
2.7 |
|
Payable/Accrued |
1.3 |
1.4 |
0.9 |
- |
- |
|
Notes Payable/Short Term Debt |
3.3 |
2.6 |
2.6 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
2.2 |
1.1 |
0.7 |
2.7 |
1.5 |
|
Dividends Payable |
- |
- |
0.0 |
- |
- |
|
Income Taxes Payable |
0.6 |
0.3 |
0.0 |
- |
- |
|
Other Current Liabilities |
0.0 |
0.0 |
0.0 |
0.2 |
0.2 |
|
Other Current liabilities, Total |
0.6 |
0.3 |
0.0 |
0.2 |
0.2 |
|
Total Current Liabilities |
10.2 |
8.6 |
6.2 |
5.4 |
4.4 |
|
|
|
|
|
|
|
|
Long Term Debt |
2.9 |
1.2 |
1.0 |
1.7 |
2.6 |
|
Capital Lease Obligations |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Long Term Debt |
2.9 |
1.3 |
1.0 |
1.7 |
2.6 |
|
Total Debt |
8.4 |
5.0 |
4.3 |
4.4 |
4.1 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.4 |
0.4 |
0.2 |
- |
- |
|
Deferred Income Tax |
0.4 |
0.4 |
0.2 |
- |
- |
|
Minority Interest |
- |
- |
0.0 |
0.0 |
0.0 |
|
Pension Benefits - Underfunded |
0.2 |
0.3 |
- |
- |
- |
|
Other Long Term Liabilities |
- |
- |
0.2 |
0.5 |
0.5 |
|
Other Liabilities, Total |
0.2 |
0.3 |
0.2 |
0.5 |
0.5 |
|
Total Liabilities |
13.7 |
10.5 |
7.6 |
7.6 |
7.5 |
|
|
|
|
|
|
|
|
Common Stock |
2.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Common Stock |
2.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings (Accumulated Deficit) |
7.2 |
5.4 |
5.4 |
5.6 |
5.0 |
|
Other Comprehensive Income |
5.2 |
5.0 |
0.0 |
0.0 |
0.0 |
|
Other Equity, Total |
5.2 |
5.0 |
0.0 |
0.0 |
0.0 |
|
Total Equity |
14.7 |
10.5 |
5.4 |
5.6 |
5.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Total Common Shares Outstanding |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Employees |
750 |
- |
- |
- |
- |
|
Accumulated Intangible Amort, Suppl. |
0.2 |
0.2 |
0.1 |
- |
- |
|
Total Long Term Debt, Supplemental |
8.4 |
4.9 |
4.3 |
- |
- |
|
Long Term Debt Maturing within 1 Year |
5.5 |
3.7 |
3.3 |
- |
- |
|
Long Term Debt Maturing in Year 2 |
2.9 |
1.2 |
1.0 |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
2.9 |
1.2 |
1.0 |
- |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Costs |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 1 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 2 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 3 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 4 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in Year 5 |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
0.0 |
0.0 |
0.0 |
- |
- |
|
Pension Obligation - Domestic |
0.2 |
0.3 |
0.2 |
- |
- |
|
Funded Status - Domestic |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Total Funded Status |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Discount Rate - Domestic |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic |
9.00% |
10.00% |
10.00% |
- |
- |
|
Accrued Liabilities - Domestic |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Total Plan Obligations |
0.2 |
0.3 |
0.2 |
- |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Sep-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Restated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate |
110.2 |
110.395 |
110.945 |
111.95 |
113.575 |
|
|
|
|
|
|
|
|
Cash & Equivalents |
0.1 |
0.2 |
0.3 |
0.2 |
0.1 |
|
Cash and Short Term Investments |
0.1 |
0.2 |
0.3 |
0.2 |
0.1 |
|
Trade Accounts Receivable - Net |
1.8 |
1.4 |
1.1 |
1.0 |
0.9 |
|
Total Receivables, Net |
1.8 |
1.4 |
1.1 |
1.0 |
0.9 |
|
Total Inventory |
11.4 |
9.4 |
10.6 |
8.3 |
6.9 |
|
Total Current Assets |
13.3 |
11.0 |
12.0 |
9.5 |
8.0 |
|
|
|
|
|
|
|
|
Property/Plant/Equipment - Net |
18.9 |
17.3 |
16.9 |
14.4 |
14.0 |
|
Goodwill, Net |
0.0 |
0.0 |
- |
0.0 |
- |
|
Intangibles, Net |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Total Assets |
32.3 |
28.4 |
29.0 |
24.0 |
22.1 |
|
|
|
|
|
|
|
|
Accounts Payable |
4.8 |
4.0 |
4.9 |
3.9 |
3.9 |
|
Notes Payable/Short Term Debt |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Current Portion - Long Term Debt/Capital Leases |
8.1 |
5.5 |
4.2 |
3.6 |
4.4 |
|
Income Taxes Payable |
0.0 |
0.6 |
0.6 |
0.3 |
0.4 |
|
Other Current liabilities, Total |
0.0 |
0.6 |
0.6 |
0.3 |
0.4 |
|
Total Current Liabilities |
13.0 |
10.2 |
9.7 |
7.8 |
8.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
3.3 |
2.9 |
4.0 |
1.6 |
1.8 |
|
Total Long Term Debt |
3.3 |
2.9 |
4.0 |
1.6 |
1.8 |
|
Total Debt |
11.4 |
8.4 |
8.2 |
5.3 |
6.3 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
0.3 |
0.4 |
0.3 |
0.3 |
0.3 |
|
Deferred Income Tax |
0.3 |
0.4 |
0.3 |
0.3 |
0.3 |
|
Pension Benefits - Underfunded |
0.2 |
0.2 |
0.4 |
0.3 |
0.3 |
|
Other Liabilities, Total |
0.2 |
0.2 |
0.4 |
0.3 |
0.3 |
|
Total Liabilities |
16.8 |
13.7 |
14.4 |
10.1 |
11.2 |
|
|
|
|
|
|
|
|
Common Stock |
2.3 |
2.3 |
2.3 |
2.3 |
0.0 |
|
Common Stock |
2.3 |
2.3 |
2.3 |
2.3 |
0.0 |
|
Retained Earnings (Accumulated Deficit) |
8.0 |
7.2 |
7.2 |
6.4 |
5.8 |
|
Other Comprehensive Income |
5.2 |
5.2 |
5.2 |
5.1 |
5.1 |
|
Other Equity, Total |
5.2 |
5.2 |
5.2 |
5.1 |
5.1 |
|
Total Equity |
15.5 |
14.7 |
14.6 |
13.8 |
10.9 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
32.3 |
28.4 |
29.0 |
24.0 |
22.1 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
145.0 |
145.0 |
145.0 |
145.0 |
128.3 |
|
Total Common Shares Outstanding |
145.0 |
145.0 |
145.0 |
145.0 |
128.3 |
|
Net Domestic Pension Assets |
0.2 |
0.2 |
0.4 |
0.3 |
0.3 |
|
Net Assets Recognized on Balance Sheet |
0.2 |
0.2 |
0.4 |
0.3 |
0.3 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst & Young
LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
3.2 |
1.8 |
0.6 |
- |
- |
|
Depreciation |
0.6 |
0.4 |
0.4 |
- |
- |
|
Depreciation/Depletion |
0.6 |
0.4 |
0.4 |
- |
- |
|
Amortization of Intangibles |
0.1 |
0.1 |
0.1 |
- |
- |
|
Amortization |
0.1 |
0.1 |
0.1 |
- |
- |
|
Unusual Items |
0.0 |
-0.4 |
0.5 |
- |
- |
|
Other Non-Cash Items |
0.6 |
0.7 |
0.9 |
- |
- |
|
Non-Cash Items |
0.6 |
0.4 |
1.4 |
- |
- |
|
Accounts Receivable |
-0.2 |
0.3 |
-0.2 |
- |
- |
|
Inventories |
-3.4 |
-2.1 |
-0.5 |
- |
- |
|
Accounts Payable |
-0.8 |
1.1 |
0.6 |
- |
- |
|
Other Operating Cash Flow |
-1.5 |
-0.9 |
-1.4 |
0.5 |
0.9 |
|
Changes in Working Capital |
-5.9 |
-1.6 |
-1.6 |
0.5 |
0.9 |
|
Cash from Operating Activities |
-1.6 |
1.1 |
0.8 |
0.5 |
0.9 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-3.5 |
-1.2 |
-0.4 |
-0.5 |
-0.4 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Capital Expenditures |
-3.5 |
-1.2 |
-0.4 |
-0.7 |
-0.5 |
|
Sale of Business |
0.0 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Sale of Fixed Assets |
0.0 |
0.7 |
0.0 |
0.0 |
0.0 |
|
Investment, Net |
0.0 |
-0.1 |
-0.3 |
0.0 |
0.0 |
|
Other Investing Cash Flow |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.8 |
-0.3 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.5 |
-0.4 |
-0.7 |
-0.7 |
-0.4 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
2.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Financing Cash Flow Items |
2.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Cash Dividends Paid |
-0.3 |
-1.3 |
-0.1 |
-0.1 |
0.0 |
|
Long Term Debt Issued |
6.2 |
1.4 |
0.3 |
0.5 |
0.2 |
|
Long Term Debt
Reduction |
-3.6 |
-0.7 |
-0.9 |
-0.9 |
-1.0 |
|
Long Term Debt, Net |
2.6 |
0.7 |
-0.6 |
-0.4 |
-0.8 |
|
Issuance (Retirement) of Debt, Net |
2.6 |
0.7 |
-0.6 |
-0.4 |
-0.8 |
|
Cash from Financing Activities |
4.5 |
-0.6 |
-0.7 |
-0.5 |
-0.8 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-0.6 |
0.1 |
-0.7 |
-0.7 |
-0.3 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
-2.4 |
-2.4 |
-1.8 |
-1.2 |
-0.9 |
|
Net Cash - Ending Balance |
-3.0 |
-2.3 |
-2.5 |
-1.8 |
-1.2 |
|
Cash Interest Paid |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Cash Taxes Paid |
0.9 |
0.3 |
0.6 |
0.6 |
0.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
30-Sep-2011 |
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
6 Months |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
109.85427 |
112.156148 |
112.627554 |
113.209 |
113.759516 |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
1.4 |
3.2 |
2.5 |
1.5 |
0.5 |
|
Depreciation |
0.3 |
0.6 |
0.4 |
0.3 |
0.1 |
|
Depreciation/Depletion |
0.3 |
0.6 |
0.4 |
0.3 |
0.1 |
|
Amortization of Intangibles |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Amortization |
0.0 |
0.1 |
0.0 |
0.0 |
0.0 |
|
Unusual Items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Non-Cash Items |
0.4 |
0.6 |
0.5 |
0.3 |
0.2 |
|
Non-Cash Items |
0.4 |
0.6 |
0.5 |
0.3 |
0.2 |
|
Accounts Receivable |
-0.4 |
-0.2 |
-0.4 |
-0.3 |
-0.2 |
|
Inventories |
-2.0 |
-3.4 |
-4.6 |
-2.4 |
-1.1 |
|
Accounts Payable |
0.8 |
-0.8 |
0.6 |
-0.4 |
-0.4 |
|
Other Operating Cash Flow |
-1.4 |
-1.5 |
-1.2 |
-0.8 |
-0.3 |
|
Changes in Working Capital |
-3.0 |
-5.9 |
-5.6 |
-3.9 |
-2.0 |
|
Cash from Operating Activities |
-0.8 |
-1.6 |
-2.1 |
-1.8 |
-1.1 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-1.9 |
-3.5 |
-3.1 |
-0.6 |
-0.2 |
|
Purchase/Acquisition of Intangibles |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Capital Expenditures |
-2.0 |
-3.5 |
-3.1 |
-0.6 |
-0.2 |
|
Sale of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Investment, Net |
- |
0.0 |
- |
- |
- |
|
Other Investing Cash Flow |
- |
0.0 |
- |
- |
- |
|
Other Investing Cash Flow Items, Total |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-2.0 |
-3.5 |
-3.1 |
-0.6 |
-0.2 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
-0.3 |
0.0 |
- |
- |
- |
|
Financing Cash Flow Items |
-0.3 |
0.0 |
- |
- |
- |
|
Total Cash Dividends Paid |
8.6 |
-0.3 |
- |
- |
- |
|
Sale/Issuance of
Common |
0.0 |
2.2 |
2.2 |
2.2 |
- |
|
Common Stock, Net |
0.0 |
2.2 |
2.2 |
2.2 |
- |
|
Issuance (Retirement) of Stock, Net |
0.0 |
2.2 |
2.2 |
2.2 |
- |
|
Long Term Debt Issued |
0.0 |
6.2 |
3.7 |
0.9 |
1.1 |
|
Long Term Debt
Reduction |
-7.0 |
-3.6 |
-1.3 |
-0.9 |
-0.3 |
|
Long Term Debt, Net |
-7.0 |
2.6 |
2.4 |
0.0 |
0.8 |
|
Issuance (Retirement) of Debt, Net |
-7.0 |
2.6 |
2.4 |
0.0 |
0.8 |
|
Cash from Financing Activities |
1.3 |
4.5 |
4.6 |
2.2 |
0.8 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-1.5 |
-0.6 |
-0.6 |
-0.2 |
-0.6 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
-3.1 |
-2.4 |
2.4 |
-2.4 |
-2.4 |
|
Net Cash - Ending Balance |
-4.5 |
-3.0 |
3.0 |
-2.6 |
-2.9 |
|
Cash Interest Paid |
0.4 |
0.6 |
0.4 |
0.3 |
0.2 |
|
Cash Taxes Paid |
0.9 |
0.9 |
0.7 |
0.0 |
0.1 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Reclassified
Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Sales-Local |
29.8 |
21.2 |
17.8 |
- |
- |
|
Sales-Exports |
0.0 |
0.0 |
0.2 |
- |
- |
|
Turnover Tax |
-0.3 |
-0.2 |
-0.2 |
- |
- |
|
Revenue |
- |
- |
- |
17.6 |
16.0 |
|
Total Revenue |
29.5 |
21.0 |
17.8 |
17.6 |
16.0 |
|
|
|
|
|
|
|
|
Cost Of Sales |
18.4 |
13.4 |
12.0 |
11.5 |
10.4 |
|
Other Operating Income |
- |
- |
- |
-0.5 |
-0.3 |
|
Rental Income |
-0.6 |
-0.6 |
-0.6 |
- |
- |
|
Interest Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Profit On Disposal Of Property,Plant & E |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Dividend Income |
0.0 |
- |
0.0 |
- |
- |
|
Advertising Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Commission Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Sundry Income |
-0.1 |
0.0 |
0.0 |
- |
- |
|
Management Fee |
0.0 |
0.0 |
0.0 |
- |
- |
|
Exchange Fee |
0.0 |
0.0 |
0.0 |
- |
- |
|
Unclaimed Creditors Written Back |
0.0 |
-0.2 |
0.0 |
- |
- |
|
Exchange Gain/Loss On Disposal Of Shares |
0.0 |
0.0 |
0.0 |
- |
- |
|
Service Income - Otone |
0.0 |
0.0 |
- |
- |
- |
|
Distribution Costs |
1.7 |
1.5 |
0.9 |
1.1 |
1.2 |
|
Administrative Expenses |
6.6 |
5.1 |
4.2 |
3.5 |
3.1 |
|
Interest Expenses On Overdraft |
0.2 |
0.4 |
0.4 |
- |
- |
|
Interest Expenses On Loans & Borrowings |
0.4 |
0.2 |
0.4 |
- |
- |
|
Bank Charges |
- |
- |
0.0 |
- |
- |
|
Lease Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Finance Cost |
- |
- |
- |
0.7 |
0.5 |
|
Total Operating Expense |
26.3 |
19.2 |
17.2 |
16.4 |
14.9 |
|
|
|
|
|
|
|
|
Net Income Before Taxes |
3.2 |
1.8 |
0.6 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.3 |
0.6 |
0.3 |
0.6 |
0.3 |
|
Net Income After Taxes |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Minority Interest |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Net Income Before Extra. Items |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Basic EPS Including ExtraOrdinary Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted Net Income |
1.9 |
1.2 |
0.3 |
0.6 |
0.7 |
|
Diluted Weighted Average Shares |
140.1 |
140.1 |
128.3 |
128.3 |
128.3 |
|
Diluted EPS Excluding ExtraOrd Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
Diluted EPS Including ExtraOrd Items |
0.01 |
0.01 |
0.00 |
0.00 |
0.01 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
0.0 |
0.0 |
0.0 |
|
Normalized Income Before Taxes |
3.2 |
1.0 |
1.1 |
1.2 |
1.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
1.3 |
0.3 |
0.6 |
0.6 |
0.3 |
|
Normalized Income After Taxes |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
1.9 |
0.7 |
0.6 |
0.6 |
0.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Diluted Normalized EPS |
0.01 |
0.00 |
0.00 |
0.00 |
0.01 |
|
Interest Expense, Supplemental |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Depreciation, Supplemental |
0.6 |
0.4 |
0.4 |
- |
- |
|
Amort of Intangibles, Supplemental |
0.1 |
0.1 |
0.1 |
- |
- |
|
Advertising Expense, Supplemental |
- |
- |
0.4 |
- |
- |
|
Current Tax |
1.2 |
0.7 |
0.4 |
- |
- |
|
Under Provision Of Current Tax |
0.1 |
0.0 |
0.0 |
- |
- |
|
Current Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Deferred Tax |
0.0 |
0.0 |
0.0 |
- |
- |
|
Deferred Tax - Total |
0.0 |
0.0 |
0.0 |
- |
- |
|
Income Tax - Total |
1.3 |
0.6 |
0.3 |
- |
- |
|
Service Cost - Domestic |
0.0 |
0.1 |
- |
- |
- |
|
Interest Cost - Domestic |
0.0 |
0.0 |
- |
- |
- |
|
Transition Costs - Domestic |
-0.1 |
0.0 |
- |
- |
- |
|
Domestic Pension Plan Expense |
0.0 |
0.1 |
- |
- |
- |
|
Defined Contribution Expense - Domestic |
0.2 |
0.2 |
0.2 |
- |
- |
|
Total Pension Expense |
0.2 |
0.3 |
0.2 |
- |
- |
|
Discount Rate - Domestic% |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic% |
9.00% |
10.00% |
10.00% |
- |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
3 Months |
3 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Restated Special
|
Reclassified
Calculated |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
110.713077 |
111.478925 |
113.209 |
113.759516 |
|
|
|
|
|
|
|
Revenue |
7.4 |
8.6 |
13.5 |
6.1 |
|
Total Revenue |
7.4 |
8.6 |
13.5 |
6.1 |
|
|
|
|
|
|
|
Cost of Sales |
4.9 |
5.2 |
8.3 |
3.8 |
|
Other Income |
-0.3 |
-0.2 |
-0.4 |
-0.2 |
|
Distribution Costs |
0.4 |
0.5 |
0.7 |
0.4 |
|
Administrative Expenses |
1.6 |
1.8 |
3.1 |
1.5 |
|
Finance Cost |
0.2 |
0.2 |
0.3 |
0.1 |
|
Total Operating Expense |
6.8 |
7.5 |
12.0 |
5.6 |
|
|
|
|
|
|
|
Net Income Before Taxes |
0.6 |
1.1 |
1.5 |
0.5 |
|
|
|
|
|
|
|
Provision for Income Taxes |
0.3 |
0.4 |
0.6 |
0.2 |
|
Net Income After Taxes |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
Net Income Before Extra. Items |
0.3 |
0.7 |
0.9 |
0.3 |
|
Net Income |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
Basic Weighted Average Shares |
146.5 |
135.8 |
138.0 |
147.0 |
|
Basic EPS Excluding ExtraOrdinary Items |
0.00 |
0.01 |
0.01 |
0.00 |
|
Basic EPS Including ExtraOrdinary Items |
0.00 |
0.01 |
0.01 |
0.00 |
|
Diluted Net Income |
0.3 |
0.7 |
0.9 |
0.3 |
|
Diluted Weighted Average Shares |
146.5 |
135.8 |
138.0 |
147.0 |
|
Diluted EPS Excluding ExtraOrd Items |
0.00 |
0.01 |
0.01 |
0.00 |
|
Diluted EPS Including ExtraOrd Items |
0.00 |
0.01 |
0.01 |
0.00 |
|
DPS-Ordinary Shares |
0.00 |
0.00 |
0.00 |
0.00 |
|
Gross Dividends - Common Stock |
- |
0.0 |
- |
0.0 |
|
Normalized Income Before Taxes |
0.6 |
1.1 |
1.5 |
0.5 |
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
0.3 |
0.4 |
0.6 |
0.2 |
|
Normalized Income After Taxes |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
0.3 |
0.7 |
0.9 |
0.3 |
|
|
|
|
|
|
|
Basic Normalized EPS |
0.00 |
0.01 |
0.01 |
0.00 |
|
Diluted Normalized EPS |
0.00 |
0.01 |
0.01 |
0.00 |
|
Depreciation, Supplemental |
0.2 |
0.1 |
0.3 |
0.1 |
|
Amort of Intangibles, Supplemental |
0.0 |
0.0 |
0.0 |
0.0 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
UpdateType/Date |
Updated Normal |
Restated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate |
110.395 |
114.05 |
115.725 |
107.8 |
109 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Finished Goods |
- |
5.7 |
3.5 |
- |
- |
|
Goods In Transit |
- |
0.0 |
0.0 |
- |
- |
|
Trade Debtors |
0.0 |
0.1 |
0.1 |
- |
- |
|
Other Debtors |
0.2 |
0.2 |
0.3 |
- |
- |
|
Deposits & Prepayments |
1.2 |
0.8 |
0.3 |
- |
- |
|
Income Tax Refund Due |
- |
- |
0.1 |
- |
- |
|
Amounts Due From Subsidiaries |
- |
- |
0.3 |
- |
- |
|
Amounts Due From Related Companies |
- |
- |
0.0 |
- |
- |
|
Cash & Bank Balances |
0.2 |
0.2 |
0.2 |
- |
- |
|
Inventories |
9.4 |
- |
- |
3.8 |
3.1 |
|
Trade & Other Receivables |
- |
- |
- |
0.6 |
1.2 |
|
Other Current Assets |
- |
- |
- |
0.3 |
0.4 |
|
Total Current Assets |
11.0 |
7.1 |
4.8 |
4.7 |
4.6 |
|
|
|
|
|
|
|
|
Goodwill, Net |
0.0 |
0.0 |
- |
- |
- |
|
Land |
2.4 |
0.0 |
5.1 |
- |
- |
|
Landscaping |
0.0 |
0.0 |
0.0 |
- |
- |
|
Building |
0.0 |
0.0 |
1.1 |
- |
- |
|
Building-Lease Hold |
0.5 |
0.4 |
0.1 |
- |
- |
|
Office Equiment |
1.1 |
0.9 |
0.6 |
- |
- |
|
Fixtures-Other |
0.7 |
0.7 |
0.6 |
- |
- |
|
Fixtures-Air Conditions |
0.1 |
0.1 |
0.1 |
- |
- |
|
Furniture |
0.7 |
0.4 |
0.2 |
- |
- |
|
Computer Equipment |
0.6 |
0.5 |
0.4 |
- |
- |
|
Office Equipment-Other |
0.1 |
0.1 |
0.1 |
- |
- |
|
Shop Fittings-Fixtures |
1.4 |
0.9 |
0.5 |
- |
- |
|
Shop Fittings-Mobiles |
0.2 |
0.2 |
0.2 |
- |
- |
|
Motor Vehicles |
0.2 |
0.2 |
0.2 |
- |
- |
|
Motor Vehicles-Lease |
0.0 |
0.0 |
0.0 |
- |
- |
|
Land |
9.6 |
9.3 |
0.0 |
- |
- |
|
Building |
2.0 |
1.9 |
0.0 |
- |
- |
|
Building Work In Progress |
- |
- |
0.3 |
- |
- |
|
Capital Work In Progress |
0.2 |
0.2 |
0.0 |
- |
- |
|
Accumulated Depreciation |
-2.6 |
-1.9 |
-1.7 |
- |
- |
|
Inventories,Gross |
0.3 |
0.3 |
0.2 |
- |
- |
|
Accumulated Intangible |
-0.2 |
-0.2 |
-0.1 |
- |
- |
|
Investment In Backstage Retail Pvt Ltd |
- |
- |
0.3 |
- |
- |
|
Non-Current Assets |
- |
- |
- |
8.5 |
7.9 |
|
Total Assets |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
Trade Payables |
2.7 |
3.2 |
1.9 |
- |
- |
|
Sundry Creditors Including Accrued Expen |
1.3 |
1.4 |
0.9 |
- |
- |
|
Odel Foundation Trust |
0.0 |
0.0 |
0.0 |
- |
- |
|
Amounts Due To Related Parties |
0.0 |
0.0 |
0.2 |
- |
- |
|
Income Tax Payables |
0.6 |
0.3 |
0.0 |
- |
- |
|
Dividend Payables |
- |
- |
0.0 |
- |
- |
|
Trade & Other Payables |
- |
- |
- |
2.6 |
2.7 |
|
Bank Loan |
2.2 |
1.1 |
0.7 |
2.7 |
1.5 |
|
Lease Creditors |
0.0 |
0.0 |
0.0 |
- |
- |
|
Bank Overdrafts |
3.3 |
2.6 |
2.6 |
- |
- |
|
Other Current Liabilities |
- |
- |
- |
0.2 |
0.2 |
|
Total Current Liabilities |
10.2 |
8.6 |
6.2 |
5.4 |
4.4 |
|
|
|
|
|
|
|
|
Bank Loans |
2.9 |
1.2 |
1.0 |
1.7 |
2.6 |
|
Lease Crediotrs |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Long Term Debt |
2.9 |
1.3 |
1.0 |
1.7 |
2.6 |
|
|
|
|
|
|
|
|
Deferred Tax Liabilities |
0.4 |
0.4 |
0.2 |
- |
- |
|
Retirement Benefit Liabilities |
0.2 |
0.3 |
- |
- |
- |
|
Other Deferred Liabilities |
- |
- |
0.2 |
- |
- |
|
Minority Interest |
- |
- |
0.0 |
0.0 |
0.0 |
|
Other Non-Current Liabilities |
- |
- |
- |
0.5 |
0.5 |
|
Total Liabilities |
13.7 |
10.5 |
7.6 |
7.6 |
7.5 |
|
|
|
|
|
|
|
|
Share Capital |
2.3 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Surplus |
5.2 |
5.0 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
7.2 |
5.4 |
5.4 |
5.6 |
5.0 |
|
Total Equity |
14.7 |
10.5 |
5.4 |
5.6 |
5.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
28.4 |
21.0 |
13.0 |
13.3 |
12.5 |
|
|
|
|
|
|
|
|
S/O-Ordinary Shares |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Total Common Shares Outstanding |
145.0 |
128.3 |
128.3 |
128.3 |
128.3 |
|
Accumulated Intangible Amort, Suppl. |
0.2 |
0.2 |
0.1 |
- |
- |
|
Full-Time Employees |
750 |
- |
- |
- |
- |
|
Long Term Debt Maturing within 1 Year |
5.5 |
3.7 |
3.3 |
- |
- |
|
Long Term Debt Maturing After 1 Year |
2.9 |
1.2 |
1.0 |
- |
- |
|
Total Long Term Debt, Supplemental |
8.4 |
4.9 |
4.3 |
- |
- |
|
Capital Lease Payments Due within 1 Year |
0.0 |
0.0 |
0.0 |
- |
- |
|
Capital Lease Payments Due Within 1-5 Ye |
0.0 |
0.0 |
0.0 |
- |
- |
|
Interest Costs |
0.0 |
0.0 |
0.0 |
- |
- |
|
Total Capital Leases, Supplemental |
0.0 |
0.0 |
0.0 |
- |
- |
|
Projected Funded Status |
0.2 |
0.3 |
0.2 |
- |
- |
|
Funded Status - Domestic |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Total Funded Status |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Discount Rate - Domestic% |
11.00% |
11.00% |
11.00% |
- |
- |
|
Compensation Rate - Domestic% |
9.00% |
10.00% |
10.00% |
- |
- |
|
Defined Benefit Obligation |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
Net Assets Recognized on Balance Sheet |
-0.2 |
-0.3 |
-0.2 |
- |
- |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate |
110.395 |
110.945 |
111.95 |
113.575 |
|
|
|
|
|
|
|
Inventories |
9.4 |
10.6 |
8.3 |
6.9 |
|
Trade and Other Receivables |
1.4 |
1.1 |
1.0 |
0.9 |
|
Cash and Bank Balances |
0.2 |
0.3 |
0.2 |
0.1 |
|
Total Current Assets |
11.0 |
12.0 |
9.5 |
8.0 |
|
|
|
|
|
|
|
Property, Plant & Equipment |
17.3 |
16.9 |
14.4 |
14.0 |
|
Intangible Assets |
0.1 |
0.1 |
0.1 |
0.1 |
|
Goodwill, Net |
0.0 |
- |
- |
- |
|
Total Assets |
28.4 |
29.0 |
24.0 |
22.1 |
|
|
|
|
|
|
|
Trade and Other Payables |
4.0 |
4.9 |
3.9 |
3.9 |
|
Income Tax Payable |
0.6 |
0.6 |
0.3 |
0.4 |
|
Interest Bearing Loans & Borrowings |
5.5 |
4.2 |
3.6 |
4.4 |
|
Total Current Liabilities |
10.2 |
9.7 |
7.8 |
8.7 |
|
|
|
|
|
|
|
Long term interest bearing borrowings |
2.9 |
4.0 |
1.6 |
1.8 |
|
Total Long Term Debt |
2.9 |
4.0 |
1.6 |
1.8 |
|
|
|
|
|
|
|
Other Deferred Liabilities |
0.4 |
0.4 |
0.3 |
0.3 |
|
Deferred Tax Liabilities |
0.2 |
0.3 |
0.3 |
0.3 |
|
Total Liabilities |
13.7 |
14.4 |
10.1 |
11.2 |
|
|
|
|
|
|
|
Share Capital |
2.3 |
2.3 |
2.3 |
0.0 |
|
Revaluation Surplus |
5.2 |
5.2 |
5.1 |
5.1 |
|
Retained Earnings |
7.2 |
7.2 |
6.4 |
5.8 |
|
Total Equity |
14.7 |
14.6 |
13.8 |
10.9 |
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
28.4 |
29.0 |
24.0 |
22.1 |
|
|
|
|
|
|
|
S/O-Ordinary Shares |
145.0 |
145.0 |
145.0 |
128.3 |
|
Total Common Shares Outstanding |
145.0 |
145.0 |
145.0 |
128.3 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Mar-2010 |
31-Mar-2009 |
31-Mar-2008 |
31-Mar-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
115.030068 |
109.87627 |
110.372295 |
105.561639 |
|
Auditor |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young Chartered Accountants (Zimbabwe) |
Ernst &
Young LLP |
Ernst &
Young LLP |
Ernst &
Young LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
3.2 |
1.8 |
0.6 |
- |
- |
|
Depreciation |
0.6 |
0.4 |
0.4 |
- |
- |
|
Intangible Assets Amortization |
0.1 |
0.1 |
0.1 |
- |
- |
|
Income From Investments |
0.0 |
0.0 |
0.0 |
- |
- |
|
Finance Costs |
0.6 |
0.6 |
0.8 |
- |
- |
|
Inventory Written Off |
- |
0.0 |
0.6 |
- |
- |
|
Profit On Disposal Of Equity Investment |
0.0 |
-0.7 |
0.0 |
- |
- |
|
Gain On Disposal Of Equity Investment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Impairment Loss |
0.0 |
0.3 |
0.0 |
- |
- |
|
Unrealized Loss |
- |
0.0 |
0.0 |
- |
- |
|
Provisions For Doubtfull Debt |
- |
0.0 |
0.0 |
- |
- |
|
Provisions For Define Benefit Plans |
0.0 |
0.1 |
0.0 |
- |
- |
|
Lease Interest |
0.0 |
0.0 |
0.0 |
- |
- |
|
Decrease/Increase In Inventories |
-3.4 |
-2.1 |
-0.5 |
- |
- |
|
Decrease/Increase In Trade & Other Recei |
-0.2 |
0.0 |
0.0 |
- |
- |
|
Decrease/Increase In Due From Related pa |
0.0 |
0.3 |
-0.2 |
- |
- |
|
Decrease/Increase In Due To Related pa |
0.0 |
-0.3 |
0.0 |
- |
- |
|
Decrease In Trade & Other Payables |
-0.8 |
1.4 |
0.6 |
- |
- |
|
Cash Generated From Operations |
- |
- |
- |
1.8 |
1.9 |
|
Finance Cost Paid |
-0.6 |
-0.6 |
-0.8 |
-0.7 |
-0.5 |
|
Defined Benefit Plan Costs Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income Tax Paid |
-0.9 |
-0.3 |
-0.6 |
-0.6 |
-0.5 |
|
Cash from Operating Activities |
-1.6 |
1.1 |
0.8 |
0.5 |
0.9 |
|
|
|
|
|
|
|
|
Acquisition Of Property,Plant & Equipmen |
-3.5 |
-1.2 |
-0.4 |
-0.5 |
-0.4 |
|
Acquisition Of Intangile Assets |
0.0 |
0.0 |
0.0 |
-0.2 |
0.0 |
|
Net Increase In Capital Work In Progress |
0.0 |
-0.2 |
0.0 |
0.0 |
0.0 |
|
Proceeds From Disposal Of Fixed Assets |
0.0 |
0.7 |
0.0 |
0.0 |
0.0 |
|
Investment In Subsidiaries |
0.0 |
-0.1 |
0.0 |
0.0 |
0.0 |
|
Investment In Backstage Singapore |
- |
0.0 |
-0.3 |
0.0 |
0.0 |
|
Proceeds From Disposal Of Investment |
0.0 |
0.4 |
0.0 |
0.0 |
0.0 |
|
Investment Income Received |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.5 |
-0.4 |
-0.7 |
-0.7 |
-0.4 |
|
|
|
|
|
|
|
|
Repayment Of Interest Bearing Borrowings |
-3.6 |
-0.7 |
-0.9 |
-0.9 |
-1.0 |
|
Proceeds From Interest Bearing Borrowing |
6.2 |
1.4 |
0.3 |
0.5 |
0.2 |
|
Lease Rental Paid-Vehicle |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Loan Settlement-Director |
2.2 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividend Paid |
-0.3 |
-1.3 |
-0.1 |
-0.1 |
0.0 |
|
Cash from Financing Activities |
4.5 |
-0.6 |
-0.7 |
-0.5 |
-0.8 |
|
|
|
|
|
|
|
|
Net Change in Cash |
-0.6 |
0.1 |
-0.7 |
-0.7 |
-0.3 |
|
|
|
|
|
|
|
|
Cash,Begining Of Year |
-2.4 |
-2.4 |
-1.8 |
-1.2 |
-0.9 |
|
Cash,End Of Year |
-3.0 |
-2.3 |
-2.5 |
-1.8 |
-1.2 |
|
Cash Interest Paid |
0.6 |
0.6 |
0.8 |
0.7 |
0.5 |
|
Cash Taxes Paid |
0.9 |
0.3 |
0.6 |
0.6 |
0.5 |
|
|
|
|
Financials in: USD (mil) |
|
|
Except for share items (millions) and per
share items (actual units) |
|
|
|
|
|
|
|
|
|
|
|
|
31-Mar-2011 |
31-Dec-2010 |
30-Sep-2010 |
30-Jun-2010 |
|
Period Length |
12 Months |
9 Months |
6 Months |
3 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
LKR |
LKR |
LKR |
LKR |
|
Exchange Rate
(Period Average) |
112.156148 |
112.627554 |
113.209 |
113.759516 |
|
|
|
|
|
|
|
Net Income |
3.2 |
2.5 |
1.5 |
0.5 |
|
Depreciation |
0.6 |
0.4 |
0.3 |
0.1 |
|
Intangible Assets Amortisation |
0.1 |
0.0 |
0.0 |
0.0 |
|
Finance Costs |
0.6 |
0.4 |
0.3 |
0.2 |
|
Profit on disposal of Property, Plant & |
0.0 |
0.0 |
0.0 |
0.0 |
|
Lease Interest |
0.0 |
- |
- |
- |
|
Provision for Defined Benefit Plans |
0.0 |
0.1 |
0.1 |
0.0 |
|
Decrease/(Increase) in Inventories |
-3.4 |
-4.6 |
-2.4 |
-1.1 |
|
(Increase)/ Decrease in Trade and Other |
-0.2 |
-0.4 |
-0.3 |
-0.2 |
|
Decrease in Trade and Other Payables |
-0.8 |
0.6 |
-0.4 |
-0.4 |
|
Finance Costs paid |
-0.6 |
-0.4 |
-0.3 |
-0.2 |
|
Defined Benefit Plan Costspaid |
0.0 |
0.0 |
0.0 |
0.0 |
|
Income TaxPaid |
-0.9 |
-0.7 |
-0.6 |
-0.1 |
|
Cash from Operating Activities |
-1.6 |
-2.1 |
-1.8 |
-1.1 |
|
|
|
|
|
|
|
Capital Expenditure |
-3.5 |
-3.1 |
-0.6 |
-0.2 |
|
Net Increase In Capital Work In Progress |
0.0 |
- |
- |
- |
|
Investment In Subsidiaries |
0.0 |
- |
- |
- |
|
Acquisition of intangible assets |
0.0 |
0.0 |
0.0 |
- |
|
Proceed from disposal of Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Cash from Investing Activities |
-3.5 |
-3.1 |
-0.6 |
-0.2 |
|
|
|
|
|
|
|
Repayment of Interest BearingBorrowings |
-3.6 |
-1.3 |
-0.9 |
-0.3 |
|
Proceeds from share issue |
2.2 |
2.2 |
2.2 |
- |
|
Proceeds From Interest BearingBorrowings |
6.2 |
3.7 |
0.9 |
1.1 |
|
Dividend Paid |
-0.3 |
- |
- |
- |
|
Lease Rental Paid-Vehicle |
0.0 |
- |
- |
- |
|
Cash from Financing Activities |
4.5 |
4.6 |
2.2 |
0.8 |
|
|
|
|
|
|
|
Net Change in Cash |
-0.6 |
-0.6 |
-0.2 |
-0.6 |
|
|
|
|
|
|
|
Cash and Cash Equivalents at the beginni |
-2.4 |
2.4 |
-2.4 |
-2.4 |
|
Cash and Cash Equivalents at the end of |
-3.0 |
3.0 |
-2.6 |
-2.9 |
|
Cash Interest Paid |
0.6 |
0.4 |
0.3 |
0.2 |
|
Cash Taxes Paid |
0.9 |
0.7 |
0.0 |
0.1 |
|
|
|
Financials in: As Reported (mil)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.70.46 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.