MIRA INFORM REPORT

Report Date :

09.08.2012

IDENTIFICATION DETAILS

Name :	J.L.MORISON, SONS & JONES (CEYLON) LTD.

Registered Office :	No. 618, 620, Biyagama Road, Pethiyagoda, Kelaniy, Colombo

Country :	Sri Lanka

Financials (as on) :	31.03.2012

Year of Establishment :	1939

Legal Form :	Public Independent Company

Line of Business :	manufacturer of pharmaceuticals and toiletry products, and the import and distribution of finished pharmaceuticals, toiletries, agro chemicals, medical aid, milk foods, household insecticides, shoe care, hair care products, diagnostics reagent and equipments, and other consumer products

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Sri Lanka

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name & address

J.L.Morison, Sons & Jones (Ceylon) Ltd.

No. 618

620, Biyagama Road, Pethiyagoda, Kelaniy

Colombo,

Sri Lanka

Tel: 94-11-2904222

Fax: 94-11-2915378

Synthesis

Year Established 1939

Employees: NA

Company Type: Public Independent

Traded: Colombo (Sri Lanka) Stock Exchange: MORI.N0000

Auditor: Ernst & Young Chartered Accountants (Zimbabwe)

Financials in: USD (Millions)

Fiscal Year End: 31-Mar-2012

Reporting Currency: Sri Lanka Rupee

Annual Sales: 26.6 1

Net Income: 1.9

Total Assets: 21.5 2

Market Value: 9.7 (27-Jul-2012)

Business Description

J.L. Morison Son & Jones (Ceylon) PLC is a Sri Lanka-based company. The Company, together with its subsidiaries, is engaged in the manufacture of pharmaceuticals and toiletry products, and the import and distribution of finished pharmaceuticals, toiletries, agro chemicals, medical aid, milk foods, household insecticides, shoe care, hair care products, diagnostics reagent and equipments, and other consumer products. As of March 31, 2011, the Company had three operative subsidiaries, namely M.S.J. Industries (Ceylon) (Private) Limited, which was engaged in the manufacturing and trading in pharmaceuticals and cosmetics; M.S.J. Promotional Services (Private) Limited, which was engaged in promotional activities; and M.S.J. Cargoes (Ceylon) (Private) Limited, which was engaged in wharf clearing activities. For the nine months ended 31 December 2011, J.L. Morison Sons & Jones (Ceylon) Ltd.'s total revenue increased 10% to LKR2.17B. Net income for the period decreased 46% to LKR7128.7M. Total revenue reflects an increase in demand for the Company's products and services due to the favorable market conditions. Net income for the period was offset by higher selling & distribution and administrative expenses.

Industry

Industry Personal and Household Products

ANZSIC 2006: 1852 - Cosmetic and Toiletry Preparation Manufacturing

NACE 2002: 2452 - Manufacture of perfumes and toilet preparations

NAICS 2002: 325611 - Soap and Other Detergent Manufacturing

UK SIC 2003: 2452 - Manufacture of perfumes and toilet preparations

US SIC 1987: 2844 - Perfumes, Cosmetics, and Other Toilet Preparations

Key Executives

Name	Title
Nihal Parakrama De Alwis Samaranayake	Chief Executive Officer, Managing Director, Executive Director
Anjula Mewnath Prematilleke	Finance Director, Executive Director
Nayoma Chanaka Keppetiwalana	Executive Director, Director - Sales, Marketing
W. M. G. Wijesundera	Company Secretary
Reginald M. Abeyawira	Executive Chairman of the Board

Significant Developments

Topic	#*	Most Recent Headline	Date
Dividends	2	J.L. Morison Sons & Jones (Ceylon) PLC to Pay FY 2011-2012 Interim Dividend	2-Mar-2012

* number of significant developments within the last 12 months

Financial Summary

As of 31-Mar-2012

Key Ratios	Company	Industry
Current Ratio (MRQ)	2.43	1.40
Quick Ratio (MRQ)	1.45	0.80
Debt to Equity (MRQ)	0.15	0.91
Sales 5 Year Growth	12.13	6.30
Net Profit Margin (TTM) %	7.02	16.38
Return on Assets (TTM) %	7.96	10.81
Return on Equity (TTM) %	11.93	28.10

Stock Snapshot

Traded: Colombo (Sri Lanka) Stock Exchange: MORI.N0000

As of 27-Jul-2012

Financials in: LKR

Recent Price	182.00	EPS	79.87
52 Week High	399.90	Price/Sales	0.43
52 Week Low	150.00	Dividend Rate	3.50
Avg. Volume (mil)	0.0004	Price/Earnings	1.29
Market Value (mil)	1,274.92	Price/Book	0.74
		Beta	1.47

	Price % Change	Rel S&P 500%
4 Week	18.95%	19.74%
13 Week	-8.31%	1.12%
52 Week	-48.73%	-30.85%
Year to Date	-36.14%	-21.36%

1 - Profit & Loss Item Exchange Rate: USD 1 = LKR 112.5695

2 - Balance Sheet Item Exchange Rate: USD 1 = LKR 127.8033

Corporate Overview

Location

No. 618

620, Biyagama Road, Pethiyagoda, Kelaniy

Colombo, Sri Lanka

Tel: 94-11-2904222

Fax: 94-11-2915378

Quote Symbol - Exchange

MORI.N0000 - Colombo (Sri Lanka) Stock Exchange

Sales LKR(mil): 2,991.0

Assets LKR(mil): 2,744.8

Employees: NA

Fiscal Year End: 31-Mar-2012

Industry: Personal and Household Products

Company Type: Public Independent

Quoted Status: Quoted

Chief Executive Officer,

Managing Director,

Executive Director: Nihal Parakrama De Alwis Samaranayake

Contents

Industry Codes

Business Description

Financial Data

Market Data

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

1841 - Human Pharmaceutical and Medicinal Product Manufacturing

3720 - Pharmaceutical and Toiletry Goods Wholesaling

3323 - Industrial and Agricultural Chemical Product Wholesaling

1852 - Cosmetic and Toiletry Preparation Manufacturing

4129 - Other Specialised Food Retailing

3739 - Other Goods Wholesaling Not Elsewhere Classified

6240 - Financial Asset Investing

NACE 2002 Codes:

5190 - Other wholesale

2442 - Manufacture of pharmaceutical preparations

5147 - Wholesale of other household goods

5146 - Wholesale of pharmaceutical goods

2452 - Manufacture of perfumes and toilet preparations

5227 - Other retail sale of food, beverages and tobacco in specialised stores

5155 - Wholesale of chemical products

7415 - Management activities of holding companies

NAICS 2002 Codes:

424990 - Other Miscellaneous Nondurable Goods Merchant Wholesalers

325412 - Pharmaceutical Preparation Manufacturing

424210 - Drugs and Druggists' Sundries Merchant Wholesalers

423990 - Other Miscellaneous Durable Goods Merchant Wholesalers

325611 - Soap and Other Detergent Manufacturing

445299 - All Other Specialty Food Stores

424690 - Other Chemical and Allied Products Merchant Wholesalers

551112 - Offices of Other Holding Companies

US SIC 1987:

5199 - Nondurable Goods, Not Elsewhere Classified

2834 - Pharmaceutical Preparations

5122 - Drugs, Drug Proprietaries, and Druggists' Sundries

5099 - Durable Goods, Not Elsewhere Classified

2844 - Perfumes, Cosmetics, and Other Toilet Preparations

5451 - Dairy Products Stores

5169 - Chemicals and Allied Products, Not Elsewhere Classified

6719 - Offices of Holding Companies, Not Elsewhere Classified

UK SIC 2003:

5190 - Other wholesale

24421 - Manufacture of medicaments

5147 - Wholesale of other household goods

5146 - Wholesale of pharmaceutical goods

2452 - Manufacture of perfumes and toilet preparations

5227 - Other retail sale of food, beverages and tobacco in specialised stores

5155 - Wholesale of chemical products

7415 - Management activities of holding companies

Business Description

Financial Data

Financials in:	LKR(mil)

Revenue:	2,991.0
Net Income:	210.1
Assets:	2,744.8
Long Term Debt:	43.3
Total Liabilities:	878.3
Working Capital:	0.5

Date of Financial Data:	31-Mar-2012

1 Year Growth

7.7%

13.0%

8.4%

Top

Market Data

Quote Symbol:	MORI.N0000
Exchange:	Colombo (Sri Lanka) Stock Exchange
Currency:	LKR
Stock Price:	182.0
Stock Price Date:	07-27-2012
52 Week Price Change %:	-48.7
Market Value (mil):	1,274,920.0

SEDOL:	6602778
ISIN:	LK0091N00005

Equity and Dept Distribution:
12/2011, 10-for-1 Stock split.

Key Corporate Relationships

Auditor:	Ernst & Young Chartered Accountants (Zimbabwe)

Auditor:	Ernst & Young Chartered Accountants (Zimbabwe)

Executive report

Board of Directors

Name

Title

Function

Reginald M. Abeyawira

Executive Chairman of the Board

Chairman

Biography:

Mr. Reginald M. Abeyawira is the Executive Chairman of the Board of JL Morison Son & Jones (Ceylon) PLC. Mr. Abeyawira counts over fifty years in the company having joined in 1952, relinquishing his employment in the Central Bank of Ceylon. He had also served as a Board Member in the united kIngdom companies of J.L. Morison son & jones (ceylon) Plc, during this period. He has experience in commercial management and administration. He served as a Board Memebr of the Group companies and attended all Board Meetings of the Parent company, during the year under review.

Srimathie Iranganie Abeyawira

Non-Executive Director

Director/Board Member

Biography:

Mrs. Srimathie Iranganie Abeyawira is a Non-Executive Director of JL Morison Son & Jones (Ceylon) PLC. Mrs. Abeyawira has been a member of the Board from financial year March 31, 2001. She is also on the Boards of Abeyawira Investments (Private) Limited and Carvalho Investments (Private) limited.

Age: 71

Asoka S. Abeyewardene

Non-Executive Independent Director

Director/Board Member

Biography:

Mr. Asoka Sriwickrema Abeyewardene is a Non-Executive Independent Director of JL Morison Son & Jones (Ceylon) PLC. Mr. Abeyewardene is a Fellow of the Institute of Chartered Accountants of Sri Lanka, Fellow of the Society of Certified Management Accountants of Sri Lanka and a Fellow of the Institute of Directors U.K. He is a former Partner of KPMG Ford Rhodes Thornton & co., chartered Accountants. He is an Independent Director of DFCC Bank, Independent Director of Ceylon Hospitals PLC and is the Chairman of the Audit Committee and Remuneration Committee of this company. He is also an Independent Director of Durdans Medical and surgical Hospitals (Pvt) ltd., and is a Non-Executive chairman of National Asset Management ltd. He serves as an Independent Director of j. l. Morison son & jones (ceylon) Plc and is the chai rman of the Audi t committee.

Bertram Manson Amarasekera

Non-Executive Independent Director

Director/Board Member

Biography:

Mr. Bertram Manson Amarasekera is Non-Executive Independent Director of JL Morison Son & Jones (Ceylon) PLC. He is an Attorney-at-Law by profession and counts over 50 years in the practice of law. He joined the law firm Julius & Creasy in 1952 and retired as Precedent Partner of the firm in 1990. As a Member of the Bar council, he served as Chairman of the Law and Finance committee and several other committees of the council. He also served on the council of the University of Sri Jayawardenapura and functioned as Chairman of the Disciplinary committee of the university.

Age: 81

Nayoma Chanaka Keppetiwalana

Executive Director, Director - Sales, Marketing

Director/Board Member

Biography:

Mr. Nayoma Chanaka Keppetiwalana is the Executive Director and Director - Sales, Marketing of JL Morison Son & Jones (Ceylon) PLC. He joined the Board in January 2007 and served as a Board Member of a Group company. He has over 24 years’ experience with a number of companies in the international and multinational food and apparel industry. He initially spent 4 years with Nestle lanka and 5 years wi th Goodman Fielder Australia, in a range of Domestic and Overseas sales Marketing roles and then joined Ykk-japan, the world fastening products supplier to apparel manufacturers, worldwide, as Head of sales & Marketing. In addition, he had spent 8 years with local conglomerates wi th cross functional responsibilities in sales, brand market ing and strategic planning, product development and joint venture operations. He has undergone strategic brand marketing programmes with the Australia Graduate School of Management.

Anjula Mewnath Prematilleke

Finance Director, Executive Director

Director/Board Member

Biography:

Mr. Anjula Mewnath Prematilleke is the Finance Director and Executive Director of JL Morison Son & Jones (Ceylon) PLC. He has knowledge of budgetary control, pricing, strategic planning, fund and treasury management, project appraisals and working capital management. He has a Masters of Business Administration from a university in Colombo.

Nihal Parakrama De Alwis Samaranayake

Chief Executive Officer, Managing Director, Executive Director

Director/Board Member

Biography:

Mr. Nihal Parakrama De Alwis Samaranayake is the Chief Executive Officer, Managing Director and Executive Director of JL Morison Son & Jones (Ceylon) PLC. Appointed to the Board in 1983. Mr. Samaranayake is a member of the chartered Institute of Management Accountants of London, Chartered Management Institute of the United Kingdom and also the society of the Certified Management Accountants in Sri Lanka. He counts more than 25 years of experience in financial management, administration and secretarial practice. He is also a Non- Executive Director of Colombo Pharmacy Company PLC and served as a Board Member of the Group companies.

Executives

Name

Title

Function

Nihal Parakrama De Alwis Samaranayake

Chief Executive Officer, Managing Director, Executive Director

Chief Executive Officer

Biography:

W. M. G. Wijesundera

Company Secretary

Anjula Mewnath Prematilleke

Finance Director, Executive Director

Finance Executive

Biography:

Nayoma Chanaka Keppetiwalana

Executive Director, Director - Sales, Marketing

Sales Executive

Biography:

Significant Developments

J.L. Morison Sons & Jones (Ceylon) PLC to Pay FY 2011-2012 Interim Dividend Mar 02, 2012

J.L. Morison Sons & Jones (Ceylon) PLC announced that it is to pay LKR 1.50 per share as interim dividend (voting & non-voting) for fiscal year 2011-2012 on March 23, 2012. The ex-date is March 14, 2012. It paid an interim dividend of LKR 20 per share for the fiscal 2010-2011.

J.L.Morison, Son & Jones (Ceylon) PLC to Pay FY 2010-2011 Final Dividend Aug 11, 2011

J.L.Morison, Son & Jones (Ceylon) PLC announced that it is to pay LKR 20 per share (tax free) as final dividend for fiscal year 2010-2011 on September 30, 2011. The ex-date is September 26, 2011. This brings total dividend for fiscal year 2010-2011 to LKR 40 per share, while it paid LKR 16.5 per share as dividend for fiscal year 2009-2010.

Significant Developments

for fiscal year 2010-2011 on September 30, 2011. The ex-date is September 26, 2011. This brings total dividend for fiscal year 2010-2011 to LKR 40 per share, while it paid LKR 16.5 per share as dividend for fiscal year 2009-2010.

Annual income statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Reclassified Normal 31-Mar-2012	Reclassified Normal 31-Mar-2011	Updated Normal 31-Mar-2009	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified with Explanation	Unqualified with Explanation

Net Sales	26.6	24.8	-	-	-
Gross Revenue	-	-	23.9	21.2	16.7
Excise Tax Receipts	-	-	-0.1	-0.1	-0.1
Revenue	26.6	24.8	23.8	21.0	16.6
Total Revenue	26.6	24.8	23.8	21.0	16.6

Cost of Revenue	19.3	17.8	18.4	16.7	12.8
Cost of Revenue, Total	19.3	17.8	18.4	16.7	12.8
Gross Profit	7.3	6.9	5.4	4.3	3.9

Selling/General/Administrative Expense	4.8	4.4	2.6	2.2	2.5
Labor & Related Expense	-	-	0.8	0.3	-
Advertising Expense	-	-	0.3	0.3	-
Total Selling/General/Administrative Expenses	4.8	4.4	3.7	2.8	2.5
Depreciation	-	-	0.2	0.1	-
Depreciation/Amortization	-	-	0.2	0.1	-
Investment Income - Operating	-	-	0.0	0.0	-
Interest/Investment Income - Operating	-	-	0.0	0.0	-
Interest Expense (Income) - Net Operating Total	-	-	0.0	0.0	-
Loss (Gain) on Sale of Assets - Operating	-	-	0.0	0.0	-
Unusual Expense (Income)	-	-	0.0	0.0	-
Other Operating Expense	-	-	-	0.5	0.4
Other, Net	-0.1	-0.1	0.0	0.0	0.0
Other Operating Expenses, Total	-0.1	-0.1	0.0	0.5	0.4
Total Operating Expense	23.9	22.2	22.2	20.1	15.6

Operating Income	2.6	2.6	1.6	1.0	1.0

Interest Expense - Non-Operating	-0.1	-0.2	-0.3	-0.3	-0.2
Interest Expense, Net Non-Operating	-0.1	-0.2	-0.3	-0.3	-0.2
Interest Income - Non-Operating	0.2	0.1	0.1	0.2	0.2
Investment Income - Non-Operating	-	0.0	0.0	0.4	0.0
Interest/Investment Income - Non-Operating	0.2	0.2	0.1	0.6	0.2
Interest Income (Expense) - Net Non-Operating Total	0.1	0.0	-0.2	0.2	0.0
Income Before Tax	2.7	2.6	1.4	1.2	1.0

Total Income Tax	0.8	1.1	0.5	0.5	0.4
Income After Tax	1.9	1.5	0.9	0.7	0.7

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extraord Items	1.9	1.5	0.9	0.7	0.7
Net Income	1.9	1.5	0.9	0.7	0.7

Miscellaneous Earnings Adjustment	-	0.2	-	-	-
Total Adjustments to Net Income	-	0.2	-	-	-
Income Available to Common Excl Extraord Items	1.9	1.7	0.9	0.7	0.7

Income Available to Common Incl Extraord Items	1.9	1.7	0.9	0.7	0.7

Basic/Primary Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Basic EPS Excl Extraord Items	0.71	2.20	1.15	0.96	0.90
Basic/Primary EPS Incl Extraord Items	0.71	2.20	1.15	0.96	0.90
Dilution Adjustment	-	-	-	0.0	0.0
Diluted Net Income	1.9	1.7	0.9	0.7	0.7
Diluted Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Diluted EPS Excl Extraord Items	0.71	2.20	1.15	0.96	0.90
Diluted EPS Incl Extraord Items	0.71	2.20	1.15	0.96	0.90
Dividends per Share - Common Stock Issue 2	-	0.03	0.01	0.01	0.01
Gross Dividends - Common Stock	-	-	-	0.1	0.1
Interest Expense, Supplemental	0.1	0.2	0.2	0.3	0.2
Depreciation, Supplemental	0.3	0.2	0.2	0.2	0.1
Total Special Items	-	-	0.0	0.0	0.0
Normalized Income Before Tax	2.7	2.6	1.4	1.2	1.0

Effect of Special Items on Income Taxes	-	-	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.8	1.1	0.5	0.5	0.4
Normalized Income After Tax	1.9	1.5	0.9	0.7	0.7

Normalized Inc. Avail to Com.	1.9	1.7	0.9	0.7	0.7

Basic Normalized EPS	0.71	2.20	1.13	0.96	0.89
Diluted Normalized EPS	0.71	2.20	1.13	0.96	0.89
Amort of Acquisition Costs, Supplemental	-	-	-	-	0.0
Advertising Expense, Supplemental	-	-	0.3	0.3	0.2
Normalized EBIT	2.6	2.6	1.6	1.0	1.0
Normalized EBITDA	3.0	2.8	1.8	1.1	1.1
Current Tax - Total	-	-	0.6	0.4	0.4
Current Tax - Total	-	-	0.6	0.4	0.4
Deferred Tax - Total	-	-	-0.1	0.1	0.0
Deferred Tax - Total	-	-	-0.1	0.1	0.0
Income Tax - Total	-	-	0.5	0.5	0.4
Defined Contribution Expense - Domestic	-	-	0.2	0.0	0.1
Total Pension Expense	-	-	0.2	0.0	0.1

Annual Balance Sheet

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Restated Normal 31-Mar-2010	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate	127.803337	110.395	114.05	115.725	107.8
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified with Explanation	Unqualified with Explanation

Cash	-	-	0.3	0.0	0.1
Cash & Equivalents	0.2	0.0	-	-	-
Short Term Investments	2.0	2.3	0.5	0.8	0.8
Cash and Short Term Investments	2.2	2.4	0.7	0.8	0.9
Trade Accounts Receivable - Net	6.0	5.1	5.0	4.3	3.8
Other Receivables	0.1	1.0	1.1	1.0	0.8
Total Receivables, Net	6.1	6.1	6.2	5.3	4.6
Inventories - Finished Goods	-	4.4	2.9	2.8	2.6
Inventories - Work In Progress	-	0.2	0.2	0.1	0.2
Inventories - Raw Materials	-	1.1	0.9	1.6	1.3
Inventories - Other	-	-0.1	0.0	0.0	0.0
Total Inventory	5.5	5.6	3.9	4.6	4.1
Total Current Assets	13.8	14.1	10.8	10.7	9.7

Buildings	-	2.9	2.7	1.6	1.7
Land/Improvements	-	4.8	1.2	1.2	1.2
Machinery/Equipment	-	1.9	1.7	1.5	1.4
Construction in Progress	-	0.1	0.0	0.9	0.6
Leases	-	0.3	0.2	0.2	0.1
Property/Plant/Equipment - Gross	-	10.0	5.8	5.4	5.2
Accumulated Depreciation	-	-1.3	-1.2	-1.1	-1.1
Property/Plant/Equipment - Net	7.6	8.7	4.5	4.3	4.1
Intangibles, Net	0.0	0.0	0.0	0.0	0.0
LT Investment - Affiliate Companies	0.0	0.0	1.6	1.7	1.4
LT Investments - Other	0.0	0.0	0.0	0.0	0.0
Long Term Investments	0.0	0.0	1.6	1.7	1.4
Deferred Income Tax - Long Term Asset	0.1	0.1	0.0	0.0	0.2
Other Long Term Assets, Total	0.1	0.1	0.0	0.0	0.2
Total Assets	21.5	22.9	17.0	16.7	15.4

Accounts Payable	3.7	2.9	2.7	2.4	1.6
Payable/Accrued	-	0.6	0.6	0.4	0.4
Notes Payable/Short Term Debt	-	2.3	2.8	3.9	0.0
Current Portion - Long Term Debt/Capital Leases	1.9	0.2	0.3	0.4	3.8
Dividends Payable	0.0	0.0	0.0	0.0	0.0
Income Taxes Payable	0.1	0.6	0.2	0.0	0.1
Other Current liabilities, Total	0.2	0.6	0.2	0.0	0.1
Total Current Liabilities	5.7	6.6	6.6	7.2	5.8

Long Term Debt	0.3	0.3	0.4	0.5	0.3
Capital Lease Obligations	-	0.1	0.1	0.1	0.0
Total Long Term Debt	0.3	0.4	0.4	0.6	0.4
Total Debt	2.2	2.9	3.6	4.8	4.1

Deferred Income Tax - LT Liability	0.1	0.2	0.1	0.2	0.4
Deferred Income Tax	0.1	0.2	0.1	0.2	0.4
Minority Interest	0.0	0.0	0.0	0.0	0.0
Pension Benefits - Underfunded	0.7	0.8	0.6	0.5	0.6
Other Liabilities, Total	0.7	0.8	0.6	0.5	0.6
Total Liabilities	6.9	7.9	7.8	8.4	7.2

Common Stock	0.1	0.1	0.1	0.1	0.1
Common Stock	0.1	0.1	0.1	0.1	0.1
Additional Paid-In Capital	-	0.0	0.5	0.5	0.5
Retained Earnings (Accumulated Deficit)	14.5	8.5	6.7	5.8	5.6
Unrealized Gain (Loss)	-	6.5	1.9	1.9	2.0
Total Equity	14.6	15.0	9.2	8.3	8.2

Total Liabilities & Shareholders’ Equity	21.5	22.9	17.0	16.7	15.4

Shares Outstanding - Common Stock Primary Issue	5.8	-	-	-	-
Shares Outstanding - Common Stock Issue 2	1.7	7.6	7.6	7.6	7.6
Total Common Shares Outstanding	7.6	7.6	7.6	7.6	7.6
Number of Common Shareholders	-	1,043	910	910	905
Total Long Term Debt, Supplemental	-	2.7	3.4	4.7	4.1
Long Term Debt Maturing within 1 Year	-	2.4	3.1	4.3	3.8
Long Term Debt Matur. in Year 6 & Beyond	-	0.3	0.4	0.5	0.3
Total Capital Leases, Supplemental	-	0.2	0.1	0.1	0.1
Capital Lease Payments Due in Year 1	-	0.1	0.0	0.0	0.0
Cap. Lease Pymts. Due in Year 6 & Beyond	-	0.1	0.1	0.1	0.0
Accrued Liabilities - Domestic	-	-	-	-	-0.6
Net Assets Recognized on Balance Sheet	-	-	-	-	-0.6

Annual Cash Flows

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Updated Normal 31-Mar-2009	Reclassified Normal 31-Mar-2009
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified with Explanation	Unqualified with Explanation

Net Income/Starting Line	2.7	2.8	1.4	1.2	1.0
Depreciation	0.3	0.2	0.2	0.2	0.1
Depreciation/Depletion	0.3	0.2	0.2	0.2	0.1
Unusual Items	0.0	-0.2	0.0	0.0	0.0
Equity in Net Earnings (Loss)	0.0	0.0	0.0	-0.4	0.0
Other Non-Cash Items	0.2	0.3	0.4	0.3	0.3
Non-Cash Items	0.2	0.1	0.4	-0.1	0.2
Accounts Receivable	-0.8	0.3	-0.9	-0.9	-1.0
Inventories	-0.8	-1.5	0.8	-0.8	-0.8
Accounts Payable	0.7	0.1	0.3	1.1	-0.2
Other Operating Cash Flow	-1.9	-1.0	-0.7	-1.1	-0.9
Changes in Working Capital	-2.7	-2.2	-0.5	-1.7	-2.8
Cash from Operating Activities	0.5	0.9	1.5	-0.4	-1.4

Purchase of Fixed Assets	-0.3	-0.2	-0.3	-0.6	-0.7
Capital Expenditures	-0.3	-0.2	-0.3	-0.6	-0.7
Sale of Fixed Assets	0.1	0.0	0.0	0.0	0.0
Sale/Maturity of Investment	0.0	0.4	0.3	0.0	0.6
Investment, Net	0.0	-	-	-	-
Purchase of Investments	0.0	-0.3	0.0	0.0	0.0
Other Investing Cash Flow	0.0	0.0	0.0	0.0	0.0
Other Investing Cash Flow Items, Total	0.1	0.1	0.4	0.0	0.6
Cash from Investing Activities	-0.2	-0.1	0.0	-0.6	-0.1

Other Financing Cash Flow	0.0	-0.1	0.0	0.1	0.1
Financing Cash Flow Items	0.0	-0.1	0.0	0.1	0.1
Long Term Debt Issued	0.0	0.0	0.2	0.9	1.7
Long Term Debt Reduction	-0.3	-0.9	-1.4	-0.2	-0.2
Long Term Debt, Net	-0.3	-0.9	-1.2	0.7	1.6
Issuance (Retirement) of Debt, Net	-0.3	-0.9	-1.2	0.7	1.6
Cash from Financing Activities	-0.4	-1.0	-1.2	0.8	1.7

Net Change in Cash	-0.1	-0.2	0.4	-0.3	0.1

Net Cash - Beginning Balance	-0.3	-0.1	-0.5	-0.3	-0.4
Net Cash - Ending Balance	-0.4	-0.3	-0.1	-0.5	-0.3
Cash Interest Paid	-	0.2	0.3	0.3	0.2
Cash Taxes Paid	-	0.7	0.3	0.5	0.5

Annual Income Statement

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Reclassified Normal 31-Mar-2012	Reclassified Normal 31-Mar-2011	Updated Normal 31-Mar-2009	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified with Explanation

Sales	-	-	23.9	21.2	16.7
Turnover Tax	-	-	-0.1	-0.1	-0.1
Revenues	26.6	24.8	-	-	-
Total Revenue	26.6	24.8	23.8	21.0	16.6

Cost of Goods Sold	19.3	17.8	18.4	16.7	12.8
Profit on Disposal of Investment	-	-	0.0	-	-
Other Operating Income	-0.1	-0.1	0.0	0.0	0.0
Profit on Sale of Investment	-	-	0.0	0.0	-
Inclaimed Dividend Write back	-	-	0.0	0.0	-
Appreciation in Value of Investment	-	-	0.0	0.0	-
Depreciation in Selling Expenses	-	-	0.0	0.0	-
Advertising Costs	-	-	0.3	0.3	-
Distribution Expense	2.8	2.6	1.9	1.7	1.7
Employee benefits	-	-	0.6	0.3	-
Defined Benefit Plan-Gratuity	-	-	0.1	0.0	-
Defined Contribution Plan	-	-	0.0	0.0	-
Depreciation in Admin. Expenses	-	-	0.1	0.1	-
Profit on Sale of Property	-	-	0.0	0.0	-
Administrative Exps.	2.0	1.8	0.7	0.5	0.8
Other Operating Expense	-	-	-	0.5	0.4
Depreciation in Other Expenses	-	-	-	0.0	-
Total Operating Expense	23.9	22.2	22.2	20.1	15.6

Finance Cost	-0.1	-0.2	-0.3	-0.3	-0.2
Dividend Income	-	-	0.0	0.0	0.0
Interest Income	0.2	0.1	0.1	0.2	0.2
Share of Associate Company	-	0.0	0.0	0.4	0.0
Net Income Before Taxes	2.7	2.6	1.4	1.2	1.0

Provision for Income Taxes	0.8	1.1	0.5	0.5	0.4
Net Income After Taxes	1.9	1.5	0.9	0.7	0.7

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extra. Items	1.9	1.5	0.9	0.7	0.7
Net Income	1.9	1.5	0.9	0.7	0.7

Disposal of Investments	-	0.2	-	-	-
Income Available to Com Excl ExtraOrd	1.9	1.7	0.9	0.7	0.7

Income Available to Com Incl ExtraOrd	1.9	1.7	0.9	0.7	0.7

Basic Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Basic EPS Excluding ExtraOrdinary Items	0.71	2.20	1.15	0.96	0.90
Basic EPS Including ExtraOrdinary Items	0.71	2.20	1.15	0.96	0.90
Dilution Adjustment	-	-	-	0.0	0.0
Diluted Net Income	1.9	1.7	0.9	0.7	0.7
Diluted Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Diluted EPS Excluding ExtraOrd Items	0.71	2.20	1.15	0.96	0.90
Diluted EPS Including ExtraOrd Items	0.71	2.20	1.15	0.96	0.90
DPS-Non-Voting Ordinary Shares	-	0.03	0.01	0.01	0.01
Gross Dividends - Common Stock	-	-	-	0.1	0.1
Normalized Income Before Taxes	2.7	2.6	1.4	1.2	1.0

Inc Tax Ex Impact of Sp Items	0.8	1.1	0.5	0.5	0.4
Normalized Income After Taxes	1.9	1.5	0.9	0.7	0.7

Normalized Inc. Avail to Com.	1.9	1.7	0.9	0.7	0.7

Basic Normalized EPS	0.71	2.20	1.13	0.96	0.89
Diluted Normalized EPS	0.71	2.20	1.13	0.96	0.89
Depreciation	0.3	0.2	0.2	0.2	0.1
Interest Expense	0.1	0.2	0.2	0.3	0.2
Advertising Expenses	-	-	0.3	0.3	0.2
Amortisation of Goodwill	-	-	-	-	0.0
Current Tax	-	-	0.6	0.4	0.4
Current Tax - Total	-	-	0.6	0.4	0.4
Deferred Tax	-	-	-0.1	0.1	0.0
Deferred Tax - Total	-	-	-0.1	0.1	0.0
Income Tax - Total	-	-	0.5	0.5	0.4
Defined Benifit Plan Costs - Gratuity	-	-	0.1	0.0	0.1
Defined Benifit Plan Costs - EPF & ETF	-	-	0.0	0.0	0.0
Total Pension Expense	-	-	0.2	0.0	0.1

Annual Balance Sheet

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Restated Normal 31-Mar-2010	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate	127.803337	110.395	114.05	115.725	107.8
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified with Explanation

Raw Materials	-	1.1	0.9	1.6	1.3
Work-In-Process	-	0.2	0.2	0.1	0.2
Finished Goods	-	4.2	2.4	2.5	2.5
Machinery Spares	-	-	0.0	0.0	0.0
Goods in Transit	-	0.2	0.5	0.3	0.1
Provision for Short Expiry Stock	-	-0.1	-	-	-
Inventories	5.5	-	-	-	-
Trade and Other Receivables	6.0	5.1	5.0	4.3	3.8
Other Debtors	-	0.9	1.1	0.9	0.7
Turnover Tax Refundable	-	0.1	0.1	0.1	0.1
Other Investment	2.0	2.3	0.5	0.8	0.8
Income Tax Receivable	-	-	0.0	0.0	0.0
Tax Recoverable, Income Tax	0.0	-	-	-	-
Tax Recoverable, Trurnover Tax	0.1	-	-	-	-
Cash & Equivalents	0.2	0.0	-	-	-
Cash and Bank Balances	-	-	0.3	0.0	0.1
Total Current Assets	13.8	14.1	10.8	10.7	9.7

Land - At Cost	-	0.0	0.0	0.0	0.0
Buildings - At Cost	-	0.0	1.6	0.5	0.6
Plant & Machinery - At Cost	-	1.0	0.9	0.8	0.6
Furniture and Fittings - At Cost	-	0.1	0.1	0.1	0.1
Motor Vehicles - At Cost	-	0.4	0.4	0.4	0.5
Bicycles - At Cost	-	-	0.0	0.0	0.0
Office and Stores Equipment - At Cost	-	0.4	0.4	0.2	0.2
Plant & Machinery - Lease	-	0.1	0.1	0.1	0.0
Motor Vehicles - Lease	-	0.2	0.1	0.1	0.1
Office Equipment - Lease	-	0.0	0.0	0.0	0.0
Freehold Land	-	4.8	1.2	1.2	1.2
Freehold Building	-	2.9	1.1	1.1	1.2
Capital - WIP	-	0.1	0.0	0.9	0.6
Accumulated Depreciation	-	-1.3	-1.2	-1.1	-1.1
Property, Plant and Equipment - At Cost	1.0	-	-	-	-
Property, Plant and Equipment - At Val.	6.6	-	-	-	-
Intangibles	0.0	0.0	0.0	0.0	0.0
Investment in Subsidiaries	0.0	-	0.0	0.0	0.0
Investment in an Associate	0.0	-	1.6	1.7	1.4
Deferred Tax	0.1	0.1	0.0	0.0	0.2
Other Investment	0.0	0.0	0.0	0.0	0.0
Total Assets	21.5	22.9	17.0	16.7	15.4

Trade & Other	3.7	-	-	-	-
Accounts Payable	-	1.3	1.4	1.2	0.7
Bills Payable	-	1.6	1.2	1.2	0.9
Accounts Payable & Accrued Expenses	-	0.6	0.6	0.4	0.4
Dividends Payable	0.0	0.0	0.0	0.0	0.0
Income Tax Liability	0.1	0.6	0.2	0.0	0.1
Finance Lease	-	0.1	0.0	0.0	0.0
Int. Bearing Loans & Borrowings	1.9	0.1	0.3	0.4	3.8
Bank Overdraft	-	2.3	2.8	3.9	-
Total Current Liabilities	5.7	6.6	6.6	7.2	5.8

Finance lease	-	0.1	0.1	0.1	0.0
Int. Bearing Loans & Borrowings	0.3	0.3	0.4	0.5	0.3
Total Long Term Debt	0.3	0.4	0.4	0.6	0.4

Deferred Tax Liability	0.1	0.2	0.1	0.2	0.4
Retirement Benefit Obligation	0.7	0.8	0.6	0.5	0.6
Minority Interest	0.0	0.0	0.0	0.0	0.0
Total Liabilities	6.9	7.9	7.8	8.4	7.2

Share Capital	0.1	0.1	0.1	0.1	0.1
Share Capital - Non Voting	-	-	-	-	0.0
Share Premium	-	-	-	-	0.0
Reserves	10.5	-	-	-	-
Revalution Reserve	-	6.5	1.8	1.8	1.9
Capital Reserve	-	0.0	0.5	0.5	0.5
General Reserve	-	5.7	4.2	3.7	3.7
Investment Fluctuations Reserves	-	0.0	0.1	0.1	0.1
Accumulated Profit	4.0	2.8	2.5	2.1	1.9
Total Equity	14.6	15.0	9.2	8.3	8.2

Total Liabilities & Shareholders' Equity	21.5	22.9	17.0	16.7	15.4

S/O-Voting Ordinary Shares	5.8	-	-	-	-
S/O-Non-Voting Ordinary Shares	1.7	7.6	7.6	7.6	7.6
Total Common Shares Outstanding	7.6	7.6	7.6	7.6	7.6
Number of Shareholders	-	1,043	910	910	905
Bank Borrowings within 1 Year	-	2.4	3.1	4.3	3.8
Bank Borrowings Thereafter	-	0.3	0.4	0.5	0.3
Total Long Term Debt, Supplemental	-	2.7	3.4	4.7	4.1
Finance Lease within 1 Year	-	0.1	0.0	0.0	0.0
Finance Lease Thereafter	-	0.1	0.1	0.1	0.0
Total Capital Leases, Supplemental	-	0.2	0.1	0.1	0.1
Retirement Benifit Obligation	-	-	-	-	-0.6
Net Assets Recognized on Balance Sheet	-	-	-	-	-0.6

Annual Cash Flows

Financials in: USD (mil)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Updated Normal 31-Mar-2009	Reclassified Normal 31-Mar-2009
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified with Explanation

Profit before Tax	2.7	2.8	1.4	1.2	1.0
Depreciation	0.3	0.2	0.2	0.2	0.1
Share of Associates	0.0	0.0	0.0	-0.4	0.0
(Profit)/Loss on Sale of Property, Plant	0.0	0.0	0.0	0.0	0.0
Appreciation in value of investment	0.0	0.0	0.0	-	-
Unclaimed dividend write back	-	0.0	0.0	-	-
Dividend Received	0.0	0.0	-	0.0	0.0
Profit on Sale of Short Term Invest.	0.0	-0.2	-	-	-
Finance Costs	0.1	0.2	0.3	0.3	0.2
Interest Received	-	-	0.0	0.0	0.0
Interest Received	0.0	-0.1	-0.1	-0.2	-0.2
Provision for Defined Benefit Plans - Gr	0.1	0.2	0.1	0.0	0.1
(Increase)/decrease in inventories	-0.8	-1.5	0.8	-0.8	-0.8
Increase/ (Decrease) in amount due to re	0.0	-	-	-	-
(Increase)/decrease in Trade and Other R	-0.8	0.3	-0.9	-0.9	-1.0
Increase/(decrease) in Trade & Other Pay	0.7	0.1	0.3	1.1	-0.2
Finance Costs Paid	-0.1	-0.2	-0.3	-0.3	-0.2
Defined Benefit Plan Costs Paid	-0.2	0.0	0.0	-0.1	0.0
Income Tax Paid	-1.5	-0.7	-0.3	-0.5	-0.5
Cash from Operating Activities	0.5	0.9	1.5	-0.4	-1.4

Other Investments	0.0	-	-	-	-
Capital Expenditures	-0.3	-0.2	-0.3	-0.6	-0.7
Proceeds from Sale of Property, Plant &	0.1	0.0	0.0	0.0	0.0
Sale of Short Term Investment	0.0	0.4	0.3	0.0	0.6
Investment	0.0	1.9	0.0	0.0	0.0
Acquisition of Other Investments	-	-2.2	0.0	-	-
Dividends Received	0.0	0.0	0.0	0.0	0.0
Cash from Investing Activities	-0.2	-0.1	0.0	-0.6	-0.1

Proceed- Int. Bearing Loans & Borrowings	0.0	0.0	0.2	0.9	1.7
Repayment of Interest Bearing Loans & Bo	-0.3	-0.9	-1.3	-0.2	-0.1
Principal Payments under Finance Lease L	-0.1	-0.1	-0.1	-0.1	0.0
Interest Received	0.2	0.1	0.1	0.2	0.2
Dividends Paid	-0.2	-0.2	-0.1	-0.1	-0.1
Cash from Financing Activities	-0.4	-1.0	-1.2	0.8	1.7

Net Change in Cash	-0.1	-0.2	0.4	-0.3	0.1

Net Cash - Beginning Balance	-0.3	-0.1	-0.5	-0.3	-0.4
Cash and cash Equivalents at the end of	-0.4	-0.3	-0.1	-0.5	-0.3
Cash Interest Paid	-	0.2	0.3	0.3	0.2
Cash Taxes Paid	-	0.7	0.3	0.5	0.5

Financial Health

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

Key Indicators USD (mil)
	Quarter Ending 31-Mar-2012	Quarter Ending Yr Ago	Annual Year End 31-Mar-2012	1 Year Growth	3 Year Growth	5 Year Growth
Total Revenue1	6.9	1.54%	26.6	7.68%	8.97%	12.13%
Operating Income1	0.9	-26.85%	2.6	2.25%	41.08%	20.87%
Income Available to Common Excl Extraord Items1	0.7	-12.38%	1.9	13.01%	37.99%	23.96%
Basic EPS Excl Extraord Items1	0.09	-91.24%	0.71	-67.56%	-8.97%	-3.42%
Capital Expenditures2	0.3	40.16%	0.3	40.16%	-19.62%	2.11%
Cash from Operating Activities2	0.5	-43.07%	0.5	-43.07%	-	-23.98%
Free Cash Flow	0.2	-69.12%	0.2	-69.12%	-	-34.43%
Total Assets3	21.5	8.44%	21.5	8.44%	12.44%	14.04%
Total Liabilities3	6.9	0.40%	6.9	0.40%	-3.45%	7.60%
Total Long Term Debt3	0.3	0.52%	0.3	0.52%	-12.23%	6.93%
Total Common Shares Outstanding3	7.6	0.00%	7.6	0.00%	0.00%	0.00%
1-ExchangeRate: LKR to USD Average for Period	118.780873		112.569538
2-ExchangeRate: LKR to USD Average for Period	112.569538		112.569538
3-ExchangeRate: LKR to USD Period End Date	127.803337		127.803337

Key Ratios
	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Profitability
Gross Margin	27.54%	27.97%	22.65%	20.65%	23.28%
Operating Margin	9.91%	10.44%	6.74%	4.57%	5.99%
Pretax Margin	10.13%	10.42%	5.87%	5.70%	6.25%
Net Profit Margin	7.02%	6.69%	3.64%	3.46%	4.06%
Financial Strength
Current Ratio	2.43	2.15	1.63	1.49	1.66
Long Term Debt/Equity	0.02	0.03	0.05	0.07	0.04
Total Debt/Equity	0.15	0.19	0.39	0.59	0.50
Management Effectiveness
Return on Assets	7.96%	7.37%	5.15%	4.46%	4.85%
Return on Equity	11.93%	13.76%	9.95%	8.70%	8.79%
Efficiency
Receivables Turnover	4.12	4.03	4.17	4.17	4.12
Inventory Turnover	3.27	3.77	4.33	3.75	3.51
Asset Turnover	1.13	1.24	1.41	1.29	1.19

Market Valuation USD (mil)
P/E (TTM)	1.00	.	Enterprise Value2	10.0
Price/Sales (TTM)	0.43	.	Enterprise Value/Revenue (TTM)	0.43
Price/Book (MRQ)	0.74	.	Enterprise Value/EBITDA (TTM)	3.82
Market Cap as of 27-Jul-20121	9.7	.
1-ExchangeRate: LKR to USD on 27-Jul-2012	131.169231
2-ExchangeRate: LKR to USD on 31-Mar-2012	127.803337

Annual Ratios

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Financial Strength
Current Ratio	2.43	2.15	1.63	1.49	1.66
Quick/Acid Test Ratio	1.45	1.29	1.05	0.85	0.95
Working Capital1	8.1	7.5	4.2	3.5	3.8
Long Term Debt/Equity	0.02	0.03	0.05	0.07	0.04
Total Debt/Equity	0.15	0.19	0.39	0.59	0.50
Long Term Debt/Total Capital	0.02	0.02	0.03	0.04	0.03
Total Debt/Total Capital	0.13	0.16	0.28	0.37	0.34
Effective Tax Rate	30.68%	43.11%	37.95%	39.30%	34.99%
Total Capital1	16.8	17.9	12.7	13.1	12.3

Efficiency
Asset Turnover	1.13	1.24	1.41	1.29	1.19
Inventory Turnover	3.27	3.77	4.33	3.75	3.51
Days In Inventory	111.65	96.89	84.22	97.23	103.99
Receivables Turnover	4.12	4.03	4.17	4.17	4.12
Days Receivables Outstanding	88.58	90.61	87.54	87.55	88.61

Profitability
Gross Margin	27.54%	27.97%	22.65%	20.65%	23.28%
Operating Margin	9.91%	10.44%	6.74%	4.57%	5.99%
EBITDA Margin	11.19%	11.44%	7.58%	5.40%	6.72%
EBIT Margin	9.91%	10.44%	6.74%	4.57%	5.99%
Pretax Margin	10.13%	10.42%	5.87%	5.70%	6.25%
Net Profit Margin	7.02%	6.69%	3.64%	3.46%	4.06%
COGS/Revenue	72.46%	72.03%	77.35%	79.35%	76.72%
SG&A Expense/Revenue	17.92%	17.81%	15.40%	13.39%	15.10%

Management Effectiveness
Return on Assets	7.96%	7.37%	5.15%	4.46%	4.85%
Return on Equity	11.93%	13.76%	9.95%	8.70%	8.79%

Valuation
Free Cash Flow/Share2	0.03	0.10	0.16	-0.13	-0.29
Operating Cash Flow/Share 2	0.06	0.13	0.20	-0.05	-0.19
1-ExchangeRate: LKR to USD Period End Date	127.803337	110.395	114.05	115.725	107.8
2-ExchangeRate: LKR to USD Average for Period	127.803337	110.395	114.05	115.725	107.8

Current Market Multiples
Market Cap/Earnings (TTM)	0.93
Market Cap/Equity (MRQ)	0.68
Market Cap/Revenue (TTM)	0.43
Market Cap/EBIT (TTM)	4.30
Market Cap/EBITDA (TTM)	3.81
Enterprise Value/Earnings (TTM)	0.94
Enterprise Value/Equity (MRQ)	0.69
Enterprise Value/Revenue (TTM)	0.43
Enterprise Value/EBIT (TTM)	4.32
Enterprise Value/EBITDA (TTM)	3.82

Annual Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Reclassified Normal 31-Mar-2012	Reclassified Normal 31-Mar-2011	Updated Normal 31-Mar-2009	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified with Explanation	Unqualified with Explanation

Net Sales	26.6	24.8	-	-	-
Gross Revenue	-	-	23.9	21.2	16.7
Excise Tax Receipts	-	-	-0.1	-0.1	-0.1
Revenue	26.6	24.8	23.8	21.0	16.6
Total Revenue	26.6	24.8	23.8	21.0	16.6

Cost of Revenue	19.3	17.8	18.4	16.7	12.8
Cost of Revenue, Total	19.3	17.8	18.4	16.7	12.8
Gross Profit	7.3	6.9	5.4	4.3	3.9

Selling/General/Administrative Expense	4.8	4.4	2.6	2.2	2.5
Labor & Related Expense	-	-	0.8	0.3	-
Advertising Expense	-	-	0.3	0.3	-
Total Selling/General/Administrative Expenses	4.8	4.4	3.7	2.8	2.5
Depreciation	-	-	0.2	0.1	-
Depreciation/Amortization	-	-	0.2	0.1	-
Investment Income - Operating	-	-	0.0	0.0	-
Interest/Investment Income - Operating	-	-	0.0	0.0	-
Interest Expense (Income) - Net Operating Total	-	-	0.0	0.0	-
Loss (Gain) on Sale of Assets - Operating	-	-	0.0	0.0	-
Unusual Expense (Income)	-	-	0.0	0.0	-
Other Operating Expense	-	-	-	0.5	0.4
Other, Net	-0.1	-0.1	0.0	0.0	0.0
Other Operating Expenses, Total	-0.1	-0.1	0.0	0.5	0.4
Total Operating Expense	23.9	22.2	22.2	20.1	15.6

Operating Income	2.6	2.6	1.6	1.0	1.0

Interest Expense - Non-Operating	-0.1	-0.2	-0.3	-0.3	-0.2
Interest Expense, Net Non-Operating	-0.1	-0.2	-0.3	-0.3	-0.2
Interest Income - Non-Operating	0.2	0.1	0.1	0.2	0.2
Investment Income - Non-Operating	-	0.0	0.0	0.4	0.0
Interest/Investment Income - Non-Operating	0.2	0.2	0.1	0.6	0.2
Interest Income (Expense) - Net Non-Operating Total	0.1	0.0	-0.2	0.2	0.0
Income Before Tax	2.7	2.6	1.4	1.2	1.0

Total Income Tax	0.8	1.1	0.5	0.5	0.4
Income After Tax	1.9	1.5	0.9	0.7	0.7

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extraord Items	1.9	1.5	0.9	0.7	0.7
Net Income	1.9	1.5	0.9	0.7	0.7

Miscellaneous Earnings Adjustment	-	0.2	-	-	-
Total Adjustments to Net Income	-	0.2	-	-	-
Income Available to Common Excl Extraord Items	1.9	1.7	0.9	0.7	0.7

Income Available to Common Incl Extraord Items	1.9	1.7	0.9	0.7	0.7

Basic/Primary Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Basic EPS Excl Extraord Items	0.71	2.20	1.15	0.96	0.90
Basic/Primary EPS Incl Extraord Items	0.71	2.20	1.15	0.96	0.90
Dilution Adjustment	-	-	-	0.0	0.0
Diluted Net Income	1.9	1.7	0.9	0.7	0.7
Diluted Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Diluted EPS Excl Extraord Items	0.71	2.20	1.15	0.96	0.90
Diluted EPS Incl Extraord Items	0.71	2.20	1.15	0.96	0.90
Dividends per Share - Common Stock Issue 2	-	0.03	0.01	0.01	0.01
Gross Dividends - Common Stock	-	-	-	0.1	0.1
Interest Expense, Supplemental	0.1	0.2	0.2	0.3	0.2
Depreciation, Supplemental	0.3	0.2	0.2	0.2	0.1
Total Special Items	-	-	0.0	0.0	0.0
Normalized Income Before Tax	2.7	2.6	1.4	1.2	1.0

Effect of Special Items on Income Taxes	-	-	0.0	0.0	0.0
Inc Tax Ex Impact of Sp Items	0.8	1.1	0.5	0.5	0.4
Normalized Income After Tax	1.9	1.5	0.9	0.7	0.7

Normalized Inc. Avail to Com.	1.9	1.7	0.9	0.7	0.7

Basic Normalized EPS	0.71	2.20	1.13	0.96	0.89
Diluted Normalized EPS	0.71	2.20	1.13	0.96	0.89
Amort of Acquisition Costs, Supplemental	-	-	-	-	0.0
Advertising Expense, Supplemental	-	-	0.3	0.3	0.2
Normalized EBIT	2.6	2.6	1.6	1.0	1.0
Normalized EBITDA	3.0	2.8	1.8	1.1	1.1
Current Tax - Total	-	-	0.6	0.4	0.4
Current Tax - Total	-	-	0.6	0.4	0.4
Deferred Tax - Total	-	-	-0.1	0.1	0.0
Deferred Tax - Total	-	-	-0.1	0.1	0.0
Income Tax - Total	-	-	0.5	0.5	0.4
Defined Contribution Expense - Domestic	-	-	0.2	0.0	0.1
Total Pension Expense	-	-	0.2	0.0	0.1

Interim Income Statement

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Reclassified Normal 30-Sep-2011	Restated Normal 31-Mar-2012
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	118.780873	111.79129	109.807957	109.896774	110.713077

Net Sales	6.9	6.7	6.9	6.0	7.3
Revenue	6.9	6.7	6.9	6.0	7.3
Total Revenue	6.9	6.7	6.9	6.0	7.3

Cost of Revenue	4.9	4.9	5.1	4.3	4.7
Cost of Revenue, Total	4.9	4.9	5.1	4.3	4.7
Gross Profit	2.0	1.9	1.8	1.7	2.6

Selling/General/Administrative Expense	1.1	1.0	1.3	1.2	1.4
Total Selling/General/Administrative Expenses	1.1	1.0	1.3	1.2	1.4
Other Operating Expense	-	0.1	0.0	0.0	-
Other, Net	0.0	0.0	0.0	0.0	-0.1
Other Operating Expenses, Total	0.0	0.1	0.0	0.0	-0.1
Total Operating Expense	6.0	6.0	6.3	5.6	6.0

Operating Income	0.9	0.7	0.6	0.5	1.3

Interest Expense - Non-Operating	0.0	0.0	0.0	0.0	0.0
Interest Expense, Net Non-Operating	0.0	0.0	0.0	0.0	0.0
Interest Income - Non-Operating	0.0	0.0	0.1	0.1	0.0
Investment Income - Non-Operating	-	0.0	0.0	0.0	-
Interest/Investment Income - Non-Operating	0.0	0.0	0.1	0.1	0.0
Interest Income (Expense) - Net Non-Operating Total	0.0	0.0	0.0	0.0	0.0
Income Before Tax	0.9	0.7	0.6	0.5	1.3

Total Income Tax	0.2	0.2	0.2	0.2	0.4
Income After Tax	0.7	0.5	0.4	0.3	0.8

Minority Interest	0.0	-	-	-	0.0
Net Income Before Extraord Items	0.7	0.5	0.4	0.3	0.8
Net Income	0.7	0.5	0.4	0.3	0.8

Income Available to Common Excl Extraord Items	0.7	0.5	0.4	0.3	0.8

Income Available to Common Incl Extraord Items	0.7	0.5	0.4	0.3	0.8

Basic/Primary Weighted Average Shares	7.6	0.8	0.8	0.8	0.8
Basic EPS Excl Extraord Items	0.09	0.62	0.47	0.45	1.11
Basic/Primary EPS Incl Extraord Items	0.09	0.62	0.47	0.45	1.11
Diluted Net Income	0.7	0.5	0.4	0.3	0.8
Diluted Weighted Average Shares	7.6	0.8	0.8	0.8	0.8
Diluted EPS Excl Extraord Items	0.09	0.62	0.47	0.45	1.11
Diluted EPS Incl Extraord Items	0.09	0.62	0.47	0.45	1.11
Dividends per Share - Common Stock Issue 2	-	0.00	0.00	0.00	0.03
Gross Dividends - Common Stock	-	0.0	0.0	0.0	-
Interest Expense, Supplemental	0.0	0.0	0.0	0.0	0.0
Depreciation, Supplemental	0.1	0.1	0.1	0.1	-
Normalized Income Before Tax	0.9	0.7	0.6	0.5	1.3

Inc Tax Ex Impact of Sp Items	0.2	0.2	0.2	0.2	0.4
Normalized Income After Tax	0.7	0.5	0.4	0.3	0.8

Normalized Inc. Avail to Com.	0.7	0.5	0.4	0.3	0.8

Basic Normalized EPS	0.09	0.62	0.47	0.45	1.11
Diluted Normalized EPS	0.09	0.62	0.47	0.45	1.11
Normalized EBIT	0.9	0.7	0.6	0.5	1.3
Normalized EBITDA	1.0	0.8	0.6	0.6	1.3

Annual Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Restated Normal 31-Mar-2010	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate	127.803337	110.395	114.05	115.725	107.8
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified with Explanation	Unqualified with Explanation

Cash	-	-	0.3	0.0	0.1
Cash & Equivalents	0.2	0.0	-	-	-
Short Term Investments	2.0	2.3	0.5	0.8	0.8
Cash and Short Term Investments	2.2	2.4	0.7	0.8	0.9
Trade Accounts Receivable - Net	6.0	5.1	5.0	4.3	3.8
Other Receivables	0.1	1.0	1.1	1.0	0.8
Total Receivables, Net	6.1	6.1	6.2	5.3	4.6
Inventories - Finished Goods	-	4.4	2.9	2.8	2.6
Inventories - Work In Progress	-	0.2	0.2	0.1	0.2
Inventories - Raw Materials	-	1.1	0.9	1.6	1.3
Inventories - Other	-	-0.1	0.0	0.0	0.0
Total Inventory	5.5	5.6	3.9	4.6	4.1
Total Current Assets	13.8	14.1	10.8	10.7	9.7

Buildings	-	2.9	2.7	1.6	1.7
Land/Improvements	-	4.8	1.2	1.2	1.2
Machinery/Equipment	-	1.9	1.7	1.5	1.4
Construction in Progress	-	0.1	0.0	0.9	0.6
Leases	-	0.3	0.2	0.2	0.1
Property/Plant/Equipment - Gross	-	10.0	5.8	5.4	5.2
Accumulated Depreciation	-	-1.3	-1.2	-1.1	-1.1
Property/Plant/Equipment - Net	7.6	8.7	4.5	4.3	4.1
Intangibles, Net	0.0	0.0	0.0	0.0	0.0
LT Investment - Affiliate Companies	0.0	0.0	1.6	1.7	1.4
LT Investments - Other	0.0	0.0	0.0	0.0	0.0
Long Term Investments	0.0	0.0	1.6	1.7	1.4
Deferred Income Tax - Long Term Asset	0.1	0.1	0.0	0.0	0.2
Other Long Term Assets, Total	0.1	0.1	0.0	0.0	0.2
Total Assets	21.5	22.9	17.0	16.7	15.4

Accounts Payable	3.7	2.9	2.7	2.4	1.6
Payable/Accrued	-	0.6	0.6	0.4	0.4
Notes Payable/Short Term Debt	-	2.3	2.8	3.9	0.0
Current Portion - Long Term Debt/Capital Leases	1.9	0.2	0.3	0.4	3.8
Dividends Payable	0.0	0.0	0.0	0.0	0.0
Income Taxes Payable	0.1	0.6	0.2	0.0	0.1
Other Current liabilities, Total	0.2	0.6	0.2	0.0	0.1
Total Current Liabilities	5.7	6.6	6.6	7.2	5.8

Long Term Debt	0.3	0.3	0.4	0.5	0.3
Capital Lease Obligations	-	0.1	0.1	0.1	0.0
Total Long Term Debt	0.3	0.4	0.4	0.6	0.4
Total Debt	2.2	2.9	3.6	4.8	4.1

Deferred Income Tax - LT Liability	0.1	0.2	0.1	0.2	0.4
Deferred Income Tax	0.1	0.2	0.1	0.2	0.4
Minority Interest	0.0	0.0	0.0	0.0	0.0
Pension Benefits - Underfunded	0.7	0.8	0.6	0.5	0.6
Other Liabilities, Total	0.7	0.8	0.6	0.5	0.6
Total Liabilities	6.9	7.9	7.8	8.4	7.2

Common Stock	0.1	0.1	0.1	0.1	0.1
Common Stock	0.1	0.1	0.1	0.1	0.1
Additional Paid-In Capital	-	0.0	0.5	0.5	0.5
Retained Earnings (Accumulated Deficit)	14.5	8.5	6.7	5.8	5.6
Unrealized Gain (Loss)	-	6.5	1.9	1.9	2.0
Total Equity	14.6	15.0	9.2	8.3	8.2

Total Liabilities & Shareholders’ Equity	21.5	22.9	17.0	16.7	15.4

Shares Outstanding - Common Stock Primary Issue	5.8	-	-	-	-
Shares Outstanding - Common Stock Issue 2	1.7	7.6	7.6	7.6	7.6
Total Common Shares Outstanding	7.6	7.6	7.6	7.6	7.6
Number of Common Shareholders	-	1,043	910	910	905
Total Long Term Debt, Supplemental	-	2.7	3.4	4.7	4.1
Long Term Debt Maturing within 1 Year	-	2.4	3.1	4.3	3.8
Long Term Debt Matur. in Year 6 & Beyond	-	0.3	0.4	0.5	0.3
Total Capital Leases, Supplemental	-	0.2	0.1	0.1	0.1
Capital Lease Payments Due in Year 1	-	0.1	0.0	0.0	0.0
Cap. Lease Pymts. Due in Year 6 & Beyond	-	0.1	0.1	0.1	0.0
Accrued Liabilities - Domestic	-	-	-	-	-0.6
Net Assets Recognized on Balance Sheet	-	-	-	-	-0.6

Interim Balance Sheet

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Reclassified Normal 31-Dec-2011
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate	127.803337	113.9	110.2	109.5	110.395

Cash & Equivalents	0.2	0.1	0.2	0.0	0.0
Short Term Investments	2.0	2.3	2.3	2.4	2.3
Cash and Short Term Investments	2.2	2.4	2.5	2.4	2.4
Trade Accounts Receivable - Net	6.0	6.0	6.1	5.6	6.1
Other Receivables	0.1	0.1	0.1	0.1	0.0
Total Receivables, Net	6.1	6.1	6.2	5.7	6.1
Total Inventory	5.5	5.7	5.1	4.9	5.6
Total Current Assets	13.8	14.2	13.8	13.0	14.1

Property/Plant/Equipment - Net	7.6	8.6	8.9	9.0	8.7
Intangibles, Net	0.0	0.0	0.0	0.0	0.0
LT Investment - Affiliate Companies	0.0	0.0	0.0	0.0	0.0
LT Investments - Other	0.0	0.0	0.0	0.0	0.0
Long Term Investments	0.0	0.0	0.0	0.0	0.0
Deferred Income Tax - Long Term Asset	0.1	0.0	0.1	0.0	0.1
Other Long Term Assets, Total	0.1	0.0	0.1	0.0	0.1
Total Assets	21.5	22.8	22.9	22.0	22.9

Accounts Payable	3.7	3.7	3.8	3.4	3.7
Notes Payable/Short Term Debt	-	0.0	0.0	0.0	0.0
Current Portion - Long Term Debt/Capital Leases	1.9	2.0	1.5	0.9	2.3
Dividends Payable	0.0	0.0	0.1	0.0	0.0
Income Taxes Payable	0.1	0.1	0.1	0.6	0.6
Other Current liabilities, Total	0.2	0.1	0.2	0.6	0.6
Total Current Liabilities	5.7	5.8	5.5	5.0	6.6

Long Term Debt	0.3	0.4	0.5	0.5	0.4
Total Long Term Debt	0.3	0.4	0.5	0.5	0.4
Total Debt	2.2	2.4	2.0	1.5	2.6

Deferred Income Tax - LT Liability	0.1	0.3	0.3	0.3	0.2
Deferred Income Tax	0.1	0.3	0.3	0.3	0.2
Minority Interest	0.0	0.0	0.0	0.0	0.0
Pension Benefits - Underfunded	0.7	0.6	0.9	0.9	0.8
Other Liabilities, Total	0.7	0.6	0.9	0.9	0.8
Total Liabilities	6.9	7.1	7.1	6.6	7.9

Common Stock	0.1	0.1	0.1	0.1	0.1
Common Stock	0.1	0.1	0.1	0.1	0.1
Additional Paid-In Capital	-	-	-	12.1	-
Retained Earnings (Accumulated Deficit)	14.5	15.6	15.7	3.1	14.9
Total Equity	14.6	15.7	15.7	15.3	15.0

Total Liabilities & Shareholders’ Equity	21.5	22.8	22.9	22.0	22.9

Shares Outstanding - Common Stock Primary Issue	5.8	5.8	5.8	-	-
Shares Outstanding - Common Stock Issue 2	1.7	1.7	1.7	7.6	7.6
Total Common Shares Outstanding	7.6	7.6	7.6	7.6	7.6
Accrued Liabilities - Domestic	-	-0.6	-0.9	-0.9	-0.8
Net Assets Recognized on Balance Sheet	-	-0.6	-0.9	-0.9	-0.8

Annual Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Updated Normal 31-Mar-2009	Reclassified Normal 31-Mar-2009
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified with Explanation	Unqualified with Explanation

Net Income/Starting Line	2.7	2.8	1.4	1.2	1.0
Depreciation	0.3	0.2	0.2	0.2	0.1
Depreciation/Depletion	0.3	0.2	0.2	0.2	0.1
Unusual Items	0.0	-0.2	0.0	0.0	0.0
Equity in Net Earnings (Loss)	0.0	0.0	0.0	-0.4	0.0
Other Non-Cash Items	0.2	0.3	0.4	0.3	0.3
Non-Cash Items	0.2	0.1	0.4	-0.1	0.2
Accounts Receivable	-0.8	0.3	-0.9	-0.9	-1.0
Inventories	-0.8	-1.5	0.8	-0.8	-0.8
Accounts Payable	0.7	0.1	0.3	1.1	-0.2
Other Operating Cash Flow	-1.9	-1.0	-0.7	-1.1	-0.9
Changes in Working Capital	-2.7	-2.2	-0.5	-1.7	-2.8
Cash from Operating Activities	0.5	0.9	1.5	-0.4	-1.4

Purchase of Fixed Assets	-0.3	-0.2	-0.3	-0.6	-0.7
Capital Expenditures	-0.3	-0.2	-0.3	-0.6	-0.7
Sale of Fixed Assets	0.1	0.0	0.0	0.0	0.0
Sale/Maturity of Investment	0.0	0.4	0.3	0.0	0.6
Investment, Net	0.0	-	-	-	-
Purchase of Investments	0.0	-0.3	0.0	0.0	0.0
Other Investing Cash Flow	0.0	0.0	0.0	0.0	0.0
Other Investing Cash Flow Items, Total	0.1	0.1	0.4	0.0	0.6
Cash from Investing Activities	-0.2	-0.1	0.0	-0.6	-0.1

Other Financing Cash Flow	0.0	-0.1	0.0	0.1	0.1
Financing Cash Flow Items	0.0	-0.1	0.0	0.1	0.1
Long Term Debt Issued	0.0	0.0	0.2	0.9	1.7
Long Term Debt Reduction	-0.3	-0.9	-1.4	-0.2	-0.2
Long Term Debt, Net	-0.3	-0.9	-1.2	0.7	1.6
Issuance (Retirement) of Debt, Net	-0.3	-0.9	-1.2	0.7	1.6
Cash from Financing Activities	-0.4	-1.0	-1.2	0.8	1.7

Net Change in Cash	-0.1	-0.2	0.4	-0.3	0.1

Net Cash - Beginning Balance	-0.3	-0.1	-0.5	-0.3	-0.4
Net Cash - Ending Balance	-0.4	-0.3	-0.1	-0.5	-0.3
Cash Interest Paid	-	0.2	0.3	0.3	0.2
Cash Taxes Paid	-	0.7	0.3	0.5	0.5

Interim Cash Flows

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	12 Months	9 Months	6 Months	3 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	110.503913	109.85427	109.896774	112.156148

Net Income/Starting Line	2.7	1.8	1.1	0.5	2.8
Depreciation	0.3	0.3	0.2	0.1	0.2
Depreciation/Depletion	0.3	0.3	0.2	0.1	0.2
Unusual Items	0.0	0.0	0.0	0.0	-0.2
Equity in Net Earnings (Loss)	0.0	0.0	0.0	0.0	0.0
Other Non-Cash Items	0.2	0.3	0.2	0.1	0.3
Non-Cash Items	0.2	0.3	0.2	0.1	0.1
Accounts Receivable	-0.8	-0.1	0.0	0.7	0.3
Inventories	-0.8	-0.3	0.5	0.7	-1.5
Accounts Payable	0.7	0.1	0.3	-0.6	0.1
Other Operating Cash Flow	-1.9	-1.2	-0.9	-0.2	-1.0
Changes in Working Capital	-2.7	-1.5	-0.1	0.6	-2.2
Cash from Operating Activities	0.5	0.8	1.3	1.3	0.9

Purchase of Fixed Assets	-0.3	-0.4	-0.3	-0.3	-0.2
Capital Expenditures	-0.3	-0.4	-0.3	-0.3	-0.2
Sale of Fixed Assets	0.1	0.1	0.1	0.0	0.0
Sale/Maturity of Investment	0.0	0.0	0.0	0.0	0.4
Investment, Net	0.0	0.0	0.0	-	-
Purchase of Investments	0.0	0.0	0.0	0.0	-0.3
Other Investing Cash Flow	0.0	0.0	-0.1	0.0	0.0
Other Investing Cash Flow Items, Total	0.1	0.1	0.0	0.0	0.1
Cash from Investing Activities	-0.2	-0.3	-0.3	-0.3	-0.1

Other Financing Cash Flow	0.0	0.0	0.0	-0.1	-0.1
Financing Cash Flow Items	0.0	0.0	0.0	-0.1	-0.1
Short Term Debt, Net	0.0	0.0	-0.3	0.0	-
Long Term Debt Reduction	-0.3	-0.3	-0.5	-0.8	-0.9
Long Term Debt, Net	-0.3	-0.3	-0.5	-0.8	-0.9
Issuance (Retirement) of Debt, Net	-0.3	-0.4	-0.7	-0.8	-0.9
Cash from Financing Activities	-0.4	-0.4	-0.7	-0.8	-1.0

Net Change in Cash	-0.1	0.1	0.3	0.2	-0.2

Net Cash - Beginning Balance	-0.3	-0.3	-0.3	-0.3	-0.1
Net Cash - Ending Balance	-0.4	-0.2	0.0	-0.1	-0.3
Cash Interest Paid	-	0.1	0.1	0.0	0.2
Cash Taxes Paid	-	1.1	0.8	0.1	0.7

Annual Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Reclassified Normal 31-Mar-2012	Reclassified Normal 31-Mar-2011	Updated Normal 31-Mar-2009	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified with Explanation

Sales	-	-	23.9	21.2	16.7
Turnover Tax	-	-	-0.1	-0.1	-0.1
Revenues	26.6	24.8	-	-	-
Total Revenue	26.6	24.8	23.8	21.0	16.6

Cost of Goods Sold	19.3	17.8	18.4	16.7	12.8
Profit on Disposal of Investment	-	-	0.0	-	-
Other Operating Income	-0.1	-0.1	0.0	0.0	0.0
Profit on Sale of Investment	-	-	0.0	0.0	-
Inclaimed Dividend Write back	-	-	0.0	0.0	-
Appreciation in Value of Investment	-	-	0.0	0.0	-
Depreciation in Selling Expenses	-	-	0.0	0.0	-
Advertising Costs	-	-	0.3	0.3	-
Distribution Expense	2.8	2.6	1.9	1.7	1.7
Employee benefits	-	-	0.6	0.3	-
Defined Benefit Plan-Gratuity	-	-	0.1	0.0	-
Defined Contribution Plan	-	-	0.0	0.0	-
Depreciation in Admin. Expenses	-	-	0.1	0.1	-
Profit on Sale of Property	-	-	0.0	0.0	-
Administrative Exps.	2.0	1.8	0.7	0.5	0.8
Other Operating Expense	-	-	-	0.5	0.4
Depreciation in Other Expenses	-	-	-	0.0	-
Total Operating Expense	23.9	22.2	22.2	20.1	15.6

Finance Cost	-0.1	-0.2	-0.3	-0.3	-0.2
Dividend Income	-	-	0.0	0.0	0.0
Interest Income	0.2	0.1	0.1	0.2	0.2
Share of Associate Company	-	0.0	0.0	0.4	0.0
Net Income Before Taxes	2.7	2.6	1.4	1.2	1.0

Provision for Income Taxes	0.8	1.1	0.5	0.5	0.4
Net Income After Taxes	1.9	1.5	0.9	0.7	0.7

Minority Interest	0.0	0.0	0.0	0.0	0.0
Net Income Before Extra. Items	1.9	1.5	0.9	0.7	0.7
Net Income	1.9	1.5	0.9	0.7	0.7

Disposal of Investments	-	0.2	-	-	-
Income Available to Com Excl ExtraOrd	1.9	1.7	0.9	0.7	0.7

Income Available to Com Incl ExtraOrd	1.9	1.7	0.9	0.7	0.7

Basic Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Basic EPS Excluding ExtraOrdinary Items	0.71	2.20	1.15	0.96	0.90
Basic EPS Including ExtraOrdinary Items	0.71	2.20	1.15	0.96	0.90
Dilution Adjustment	-	-	-	0.0	0.0
Diluted Net Income	1.9	1.7	0.9	0.7	0.7
Diluted Weighted Average Shares	2.6	0.8	0.8	0.8	0.8
Diluted EPS Excluding ExtraOrd Items	0.71	2.20	1.15	0.96	0.90
Diluted EPS Including ExtraOrd Items	0.71	2.20	1.15	0.96	0.90
DPS-Non-Voting Ordinary Shares	-	0.03	0.01	0.01	0.01
Gross Dividends - Common Stock	-	-	-	0.1	0.1
Normalized Income Before Taxes	2.7	2.6	1.4	1.2	1.0

Inc Tax Ex Impact of Sp Items	0.8	1.1	0.5	0.5	0.4
Normalized Income After Taxes	1.9	1.5	0.9	0.7	0.7

Normalized Inc. Avail to Com.	1.9	1.7	0.9	0.7	0.7

Basic Normalized EPS	0.71	2.20	1.13	0.96	0.89
Diluted Normalized EPS	0.71	2.20	1.13	0.96	0.89
Depreciation	0.3	0.2	0.2	0.2	0.1
Interest Expense	0.1	0.2	0.2	0.3	0.2
Advertising Expenses	-	-	0.3	0.3	0.2
Amortisation of Goodwill	-	-	-	-	0.0
Current Tax	-	-	0.6	0.4	0.4
Current Tax - Total	-	-	0.6	0.4	0.4
Deferred Tax	-	-	-0.1	0.1	0.0
Deferred Tax - Total	-	-	-0.1	0.1	0.0
Income Tax - Total	-	-	0.5	0.5	0.4
Defined Benifit Plan Costs - Gratuity	-	-	0.1	0.0	0.1
Defined Benifit Plan Costs - EPF & ETF	-	-	0.0	0.0	0.0
Total Pension Expense	-	-	0.2	0.0	0.1

Interim Income Statement

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	3 Months	3 Months	3 Months	3 Months	3 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Reclassified Normal 30-Sep-2011	Restated Normal 31-Mar-2012
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	118.780873	111.79129	109.807957	109.896774	110.713077

Revenues	6.9	6.7	6.9	6.0	7.3
Total Revenue	6.9	6.7	6.9	6.0	7.3

Cost of Goods Sold	4.9	4.9	5.1	4.3	4.7
Other Operating Income	0.0	0.0	0.0	0.0	-0.1
Distribution Expense	0.7	0.8	0.8	0.6	0.9
Administrative Exps.	0.4	0.2	0.4	0.6	0.5
Other Operating Expense	-	0.1	0.0	0.0	-
Total Operating Expense	6.0	6.0	6.3	5.6	6.0

Finance Cost	0.0	0.0	0.0	0.0	0.0
Sale of investments	-	0.0	0.0	0.0	-
Finance Income	0.0	0.0	0.1	0.1	0.0
Net Income Before Taxes	0.9	0.7	0.6	0.5	1.3

Provision for Income Taxes	0.2	0.2	0.2	0.2	0.4
Net Income After Taxes	0.7	0.5	0.4	0.3	0.8

Minority Interest	0.0	-	-	-	0.0
Net Income Before Extra. Items	0.7	0.5	0.4	0.3	0.8
Net Income	0.7	0.5	0.4	0.3	0.8

Income Available to Com Excl ExtraOrd	0.7	0.5	0.4	0.3	0.8

Income Available to Com Incl ExtraOrd	0.7	0.5	0.4	0.3	0.8

Basic Weighted Average Shares	7.6	0.8	0.8	0.8	0.8
Basic EPS Excluding ExtraOrdinary Items	0.09	0.62	0.47	0.45	1.11
Basic EPS Including ExtraOrdinary Items	0.09	0.62	0.47	0.45	1.11
Diluted Net Income	0.7	0.5	0.4	0.3	0.8
Diluted Weighted Average Shares	7.6	0.8	0.8	0.8	0.8
Diluted EPS Excluding ExtraOrd Items	0.09	0.62	0.47	0.45	1.11
Diluted EPS Including ExtraOrd Items	0.09	0.62	0.47	0.45	1.11
DPS-Non-Voting Ordinary Shares	-	0.00	0.00	0.00	0.03
Gross Dividends - Common Stock	-	0.0	0.0	0.0	-
Normalized Income Before Taxes	0.9	0.7	0.6	0.5	1.3

Inc Tax Ex Impact of Sp Items	0.2	0.2	0.2	0.2	0.4
Normalized Income After Taxes	0.7	0.5	0.4	0.3	0.8

Normalized Inc. Avail to Com.	0.7	0.5	0.4	0.3	0.8

Basic Normalized EPS	0.09	0.62	0.47	0.45	1.11
Diluted Normalized EPS	0.09	0.62	0.47	0.45	1.11
Depreciation	0.1	0.1	0.1	0.1	-
Interest Expense	0.0	0.0	0.0	0.0	0.0

Annual Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Restated Normal 31-Mar-2010	Updated Normal 31-Mar-2008
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate	127.803337	110.395	114.05	115.725	107.8
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified with Explanation

Raw Materials	-	1.1	0.9	1.6	1.3
Work-In-Process	-	0.2	0.2	0.1	0.2
Finished Goods	-	4.2	2.4	2.5	2.5
Machinery Spares	-	-	0.0	0.0	0.0
Goods in Transit	-	0.2	0.5	0.3	0.1
Provision for Short Expiry Stock	-	-0.1	-	-	-
Inventories	5.5	-	-	-	-
Trade and Other Receivables	6.0	5.1	5.0	4.3	3.8
Other Debtors	-	0.9	1.1	0.9	0.7
Turnover Tax Refundable	-	0.1	0.1	0.1	0.1
Other Investment	2.0	2.3	0.5	0.8	0.8
Income Tax Receivable	-	-	0.0	0.0	0.0
Tax Recoverable, Income Tax	0.0	-	-	-	-
Tax Recoverable, Trurnover Tax	0.1	-	-	-	-
Cash & Equivalents	0.2	0.0	-	-	-
Cash and Bank Balances	-	-	0.3	0.0	0.1
Total Current Assets	13.8	14.1	10.8	10.7	9.7

Land - At Cost	-	0.0	0.0	0.0	0.0
Buildings - At Cost	-	0.0	1.6	0.5	0.6
Plant & Machinery - At Cost	-	1.0	0.9	0.8	0.6
Furniture and Fittings - At Cost	-	0.1	0.1	0.1	0.1
Motor Vehicles - At Cost	-	0.4	0.4	0.4	0.5
Bicycles - At Cost	-	-	0.0	0.0	0.0
Office and Stores Equipment - At Cost	-	0.4	0.4	0.2	0.2
Plant & Machinery - Lease	-	0.1	0.1	0.1	0.0
Motor Vehicles - Lease	-	0.2	0.1	0.1	0.1
Office Equipment - Lease	-	0.0	0.0	0.0	0.0
Freehold Land	-	4.8	1.2	1.2	1.2
Freehold Building	-	2.9	1.1	1.1	1.2
Capital - WIP	-	0.1	0.0	0.9	0.6
Accumulated Depreciation	-	-1.3	-1.2	-1.1	-1.1
Property, Plant and Equipment - At Cost	1.0	-	-	-	-
Property, Plant and Equipment - At Val.	6.6	-	-	-	-
Intangibles	0.0	0.0	0.0	0.0	0.0
Investment in Subsidiaries	0.0	-	0.0	0.0	0.0
Investment in an Associate	0.0	-	1.6	1.7	1.4
Deferred Tax	0.1	0.1	0.0	0.0	0.2
Other Investment	0.0	0.0	0.0	0.0	0.0
Total Assets	21.5	22.9	17.0	16.7	15.4

Trade & Other	3.7	-	-	-	-
Accounts Payable	-	1.3	1.4	1.2	0.7
Bills Payable	-	1.6	1.2	1.2	0.9
Accounts Payable & Accrued Expenses	-	0.6	0.6	0.4	0.4
Dividends Payable	0.0	0.0	0.0	0.0	0.0
Income Tax Liability	0.1	0.6	0.2	0.0	0.1
Finance Lease	-	0.1	0.0	0.0	0.0
Int. Bearing Loans & Borrowings	1.9	0.1	0.3	0.4	3.8
Bank Overdraft	-	2.3	2.8	3.9	-
Total Current Liabilities	5.7	6.6	6.6	7.2	5.8

Finance lease	-	0.1	0.1	0.1	0.0
Int. Bearing Loans & Borrowings	0.3	0.3	0.4	0.5	0.3
Total Long Term Debt	0.3	0.4	0.4	0.6	0.4

Deferred Tax Liability	0.1	0.2	0.1	0.2	0.4
Retirement Benefit Obligation	0.7	0.8	0.6	0.5	0.6
Minority Interest	0.0	0.0	0.0	0.0	0.0
Total Liabilities	6.9	7.9	7.8	8.4	7.2

Share Capital	0.1	0.1	0.1	0.1	0.1
Share Capital - Non Voting	-	-	-	-	0.0
Share Premium	-	-	-	-	0.0
Reserves	10.5	-	-	-	-
Revalution Reserve	-	6.5	1.8	1.8	1.9
Capital Reserve	-	0.0	0.5	0.5	0.5
General Reserve	-	5.7	4.2	3.7	3.7
Investment Fluctuations Reserves	-	0.0	0.1	0.1	0.1
Accumulated Profit	4.0	2.8	2.5	2.1	1.9
Total Equity	14.6	15.0	9.2	8.3	8.2

Total Liabilities & Shareholders' Equity	21.5	22.9	17.0	16.7	15.4

S/O-Voting Ordinary Shares	5.8	-	-	-	-
S/O-Non-Voting Ordinary Shares	1.7	7.6	7.6	7.6	7.6
Total Common Shares Outstanding	7.6	7.6	7.6	7.6	7.6
Number of Shareholders	-	1,043	910	910	905
Bank Borrowings within 1 Year	-	2.4	3.1	4.3	3.8
Bank Borrowings Thereafter	-	0.3	0.4	0.5	0.3
Total Long Term Debt, Supplemental	-	2.7	3.4	4.7	4.1
Finance Lease within 1 Year	-	0.1	0.0	0.0	0.0
Finance Lease Thereafter	-	0.1	0.1	0.1	0.0
Total Capital Leases, Supplemental	-	0.2	0.1	0.1	0.1
Retirement Benifit Obligation	-	-	-	-	-0.6
Net Assets Recognized on Balance Sheet	-	-	-	-	-0.6

Interim Balance Sheet

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Reclassified Normal 31-Dec-2011
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate	127.803337	113.9	110.2	109.5	110.395

Inventories	5.5	5.7	5.1	4.9	5.6
Trade and Other Receivables	6.0	6.0	6.1	5.6	6.1
Other Investment	2.0	2.3	2.3	2.4	2.3
Tax Recoverable - Income Tax	0.0	0.0	0.1	0.0	0.0
Tax Recoverable - Turnover tax	0.1	0.1	-	0.1	0.0
Cash and Cash Equivalents	0.2	0.1	0.2	0.0	0.0
Total Current Assets	13.8	14.2	13.8	13.0	14.1

Property, Plant and Equipment - Cost	1.0	1.2	1.3	1.3	1.1
Property, Plant and Equipment - Valuatio	6.6	7.4	7.6	7.7	7.6
Intangible Assets	0.0	0.0	0.0	0.0	0.0
Investment in Subsidiaries	0.0	0.0	0.0	0.0	0.0
Investment in Associates	0.0	0.0	0.0	0.0	0.0
Deferred Tax	0.1	0.0	0.1	0.0	0.1
Other Investment	0.0	0.0	0.0	0.0	0.0
Total Assets	21.5	22.8	22.9	22.0	22.9

Accounts Payable	3.7	3.7	3.8	3.4	3.7
Dividends Payable	0.0	0.0	0.1	0.0	0.0
Income Tax Liability	0.1	0.1	0.1	0.6	0.6
Int. Bearing Loans & Borrowings	1.9	2.0	1.5	0.9	2.3
Total Current Liabilities	5.7	5.8	5.5	5.0	6.6

Int. Bearing Loans & Borrowings	0.3	0.4	0.5	0.5	0.4
Total Long Term Debt	0.3	0.4	0.5	0.5	0.4

Deferred Tax Liability	0.1	0.3	0.3	0.3	0.2
Retirement Benefit Obligation	0.7	0.6	0.9	0.9	0.8
Minority Interest	0.0	0.0	0.0	0.0	0.0
Total Liabilities	6.9	7.1	7.1	6.6	7.9

Share Capital	0.1	0.1	0.1	0.1	0.1
Reserves	10.5	11.8	-	-	12.2
Revaluation Reserve	-	-	6.5	-	-
Capital Reserve	-	-	-	12.1	-
General Reserve	-	-	5.7	-	-
Accumulated Profit	4.0	3.8	3.5	3.1	2.8
Total Equity	14.6	15.7	15.7	15.3	15.0

Total Liabilities & Shareholders' Equity	21.5	22.8	22.9	22.0	22.9

S/O-Voting Ordinary Shares	5.8	5.8	5.8	-	-
S/O-Non-Voting Ordinary Shares	1.7	1.7	1.7	7.6	7.6
Total Common Shares Outstanding	7.6	7.6	7.6	7.6	7.6
Retirement Benefit Obligation	-	-0.6	-0.9	-0.9	-0.8
Net Assets Recognized on Balance Sheet	-	-0.6	-0.9	-0.9	-0.8

Annual Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Mar-2011	31-Mar-2010	31-Mar-2009	31-Mar-2008
Period Length	12 Months	12 Months	12 Months	12 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Mar-2011	Updated Normal 31-Mar-2010	Updated Normal 31-Mar-2009	Reclassified Normal 31-Mar-2009
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	112.156148	115.030068	109.87627	110.372295
Auditor		Ernst & Young Chartered Accountants (Zimbabwe)	Ernst & Young LLP	Ernst & Young LLP	Ernst & Young LLP
Auditor Opinion		Unqualified	Unqualified	Unqualified	Unqualified with Explanation

Profit before Tax	2.7	2.8	1.4	1.2	1.0
Depreciation	0.3	0.2	0.2	0.2	0.1
Share of Associates	0.0	0.0	0.0	-0.4	0.0
(Profit)/Loss on Sale of Property, Plant	0.0	0.0	0.0	0.0	0.0
Appreciation in value of investment	0.0	0.0	0.0	-	-
Unclaimed dividend write back	-	0.0	0.0	-	-
Dividend Received	0.0	0.0	-	0.0	0.0
Profit on Sale of Short Term Invest.	0.0	-0.2	-	-	-
Finance Costs	0.1	0.2	0.3	0.3	0.2
Interest Received	-	-	0.0	0.0	0.0
Interest Received	0.0	-0.1	-0.1	-0.2	-0.2
Provision for Defined Benefit Plans - Gr	0.1	0.2	0.1	0.0	0.1
(Increase)/decrease in inventories	-0.8	-1.5	0.8	-0.8	-0.8
Increase/ (Decrease) in amount due to re	0.0	-	-	-	-
(Increase)/decrease in Trade and Other R	-0.8	0.3	-0.9	-0.9	-1.0
Increase/(decrease) in Trade & Other Pay	0.7	0.1	0.3	1.1	-0.2
Finance Costs Paid	-0.1	-0.2	-0.3	-0.3	-0.2
Defined Benefit Plan Costs Paid	-0.2	0.0	0.0	-0.1	0.0
Income Tax Paid	-1.5	-0.7	-0.3	-0.5	-0.5
Cash from Operating Activities	0.5	0.9	1.5	-0.4	-1.4

Other Investments	0.0	-	-	-	-
Capital Expenditures	-0.3	-0.2	-0.3	-0.6	-0.7
Proceeds from Sale of Property, Plant &	0.1	0.0	0.0	0.0	0.0
Sale of Short Term Investment	0.0	0.4	0.3	0.0	0.6
Investment	0.0	1.9	0.0	0.0	0.0
Acquisition of Other Investments	-	-2.2	0.0	-	-
Dividends Received	0.0	0.0	0.0	0.0	0.0
Cash from Investing Activities	-0.2	-0.1	0.0	-0.6	-0.1

Proceed- Int. Bearing Loans & Borrowings	0.0	0.0	0.2	0.9	1.7
Repayment of Interest Bearing Loans & Bo	-0.3	-0.9	-1.3	-0.2	-0.1
Principal Payments under Finance Lease L	-0.1	-0.1	-0.1	-0.1	0.0
Interest Received	0.2	0.1	0.1	0.2	0.2
Dividends Paid	-0.2	-0.2	-0.1	-0.1	-0.1
Cash from Financing Activities	-0.4	-1.0	-1.2	0.8	1.7

Net Change in Cash	-0.1	-0.2	0.4	-0.3	0.1

Net Cash - Beginning Balance	-0.3	-0.1	-0.5	-0.3	-0.4
Cash and cash Equivalents at the end of	-0.4	-0.3	-0.1	-0.5	-0.3
Cash Interest Paid	-	0.2	0.3	0.3	0.2
Cash Taxes Paid	-	0.7	0.3	0.5	0.5

Interim Cash Flows

As Reported

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

	31-Mar-2012	31-Dec-2011	30-Sep-2011	30-Jun-2011	31-Mar-2011
Period Length	12 Months	9 Months	6 Months	3 Months	12 Months
UpdateType/Date	Updated Normal 31-Mar-2012	Updated Normal 31-Dec-2011	Updated Normal 30-Sep-2011	Updated Normal 30-Jun-2011	Updated Normal 31-Mar-2011
Filed Currency	LKR	LKR	LKR	LKR	LKR
Exchange Rate (Period Average)	112.569538	110.503913	109.85427	109.896774	112.156148

Profit before Tax	2.7	1.8	1.1	0.5	2.8
Depreciation	0.3	0.3	0.2	0.1	0.2
Associate Companies Share of Profit	0.0	0.0	0.0	0.0	0.0
Unclaimed dividend write back	-	-	-	-	0.0
Appreciation in value of investment	0.0	-	-	-	0.0
Dividend Received	0.0	0.0	0.0	0.0	0.0
Profit)/Loss on Sale of Property, Plant	0.0	-	0.0	0.0	0.0
Profit)/Loss on Sale of Short Term Inves	0.0	0.0	-	-	-0.2
Finance Costs	0.1	0.1	0.1	0.0	0.2
Interest Received	0.0	0.0	0.0	0.0	-0.1
Change in the Value of Short Term Invest	-	-	-	0.0	-
Pro. for Defined Benefit Plans-Gratuity	0.1	0.2	0.1	0.1	0.2
Increase)/decrease in inventories	-0.8	-0.3	0.5	0.7	-1.5
Increase/ (Decrease) in amount due to re	0.0	0.0	0.0	0.0	0.1
Increase)/decrease in Trade and Other Re	-0.8	-0.1	0.0	0.7	0.3
Trade & Other Payables	0.7	0.1	0.3	-0.6	-
Finance Costs Paid	-0.1	-0.1	-0.1	0.0	-0.2
Defined Benefit Plan Costs Paid	-0.2	0.0	0.0	0.0	0.0
Income Tax Paid	-1.5	-1.1	-0.8	-0.1	-0.7
Cash from Operating Activities	0.5	0.8	1.3	1.3	0.9

Net proceeds from Treasury Bill Investme	-	0.0	0.0	-	-
Acquisition of Property, Plant & Equipme	-0.3	-0.4	-0.3	-0.3	-0.2
Other Investments	0.0	-	-	-	-
Proceeds from Sale of Property, Plant &	0.1	0.1	0.1	0.0	0.0
Proceeds from sale of Short Term Investm	0.0	0.0	0.0	0.0	0.4
Acqusition of other investments	0.0	0.0	0.0	0.0	1.9
Acquisition of Other Investment	-	-	-	-	-2.2
Dividends Received	0.0	0.0	0.0	0.0	0.0
Adjustment	-	-	-0.1	-	-
Cash from Investing Activities	-0.2	-0.3	-0.3	-0.3	-0.1

Proceeds From Interest Bearing Loans & B	0.0	0.0	0.0	0.0	0.0
Repayment of Interest Bearing Loans & Bo	-0.3	-0.3	-0.4	-0.7	-0.9
Principal Payments under Finance Lease	-0.1	-0.1	-0.1	0.0	-0.1
Net Cash Proceeds/ (Payments) from Short	0.0	0.0	-0.3	0.0	-
Interest Received	0.2	0.1	0.1	0.0	0.1
Dividends Paid	-0.2	-0.1	-0.1	-0.1	-0.2
Cash from Financing Activities	-0.4	-0.4	-0.7	-0.8	-1.0

Net Change in Cash	-0.1	0.1	0.3	0.2	-0.2

Cash and cash Equivalents at the beginni	-0.3	-0.3	-0.3	-0.3	-0.1
Cash and cash Equivalents at the end of	-0.4	-0.2	0.0	-0.1	-0.3
Cash Interest Paid	-	0.1	0.1	0.0	0.2
Cash Taxes Paid	-	1.1	0.8	0.1	0.7

Business Segments

Financials in: As Reported (mil)

Annual

External Revenue USD (mil)
	31-Mar-11				31-Mar-10				31-Mar-09			31-Mar-08			31-Mar-07
Mnaufacturing and Trading	24.8		100 %		23.8		100 %		21.0		100 %	17.3		99.5 %	16.7	99.6 %
Promotional Activities	0.0		0 %		0.0		0 %		0.0		0 %	0.1		0.4 %	0.0	0.3 %
Hotel industry	0.0		0 %		0.0		0 %		0.0		0 %	0.0		0 %	0.0	0 %
Wharf Clearing Activities	0.0		0 %		0.0		0 %		0.0		0 %	0.0		0.1 %	0.0	0.1 %
Transport Services	0.0		0 %		0.0		0 %		0.0		0 %	0.0		0 %	0.0	0 %
Segment Total	24.8		100 %		23.8		100 %		21.0		100 %	17.4		100 %	16.7	100 %
Consolidated Total	24.8		100 %		23.8		100 %		21.0		100 %	17.4		100 %	16.7	100 %
Exchange Rate: LKR to USD	112.156148				115.030068				109.876270			110.372295			105.561639
Intersegment Revenue USD (mil)
	31-Mar-11			31-Mar-10				31-Mar-09				31-Mar-08			31-Mar-07
Mnaufacturing and Trading	1.3	98 %		1.1		98 %		0.9		94.4 %		0.7	89.2 %		-0.7	91.7 %
Promotional Activities	0.0	0.9 %		0.0		1.1 %		0.0		4.4 %		0.1	9.3 %		0.0	6.7 %
Hotel industry	0.0	0 %		0.0		0 %		0.0		0 %		0.0	0 %		0.0	0 %
Wharf Clearing Activities	0.0	1 %		0.0		0.9 %		0.0		1.2 %		0.0	1.5 %		0.0	1.6 %
Transport Services	0.0	0 %		0.0		0 %		0.0		0 %		0.0	0 %		0.0	0 %
Segment Total	1.3	100 %		1.1		100 %		1.0		100 %		0.8	100 %		-0.7	100 %
Intersegment Eliminations	-	-		-1.1		-100 %		-1.0		-100 %		-0.8	-100 %		0.7	-100 %
Consolidated Total	1.3	100 %		1.1		100 %		0.0		0 %		0.0	0 %		0.0	0 %
Exchange Rate: LKR to USD	112.156148			115.030068				109.876270				110.372295			105.561639

Total Revenue USD (mil)
		31-Mar-11			31-Mar-10				31-Mar-09				31-Mar-08				31-Mar-07
Mnaufacturing and Trading		26.1		99.9 %	24.9		99.9 %		22.0		99.7 %		18.1		99.1 %		16.0		100 %
Promotional Activities		0.0		0 %	0.0		0 %		0.0		0.2 %		0.1		0.8 %		0.0		0 %
Hotel industry		0.0		0 %	0.0		0 %		0.0		0 %		0.0		0 %		0.0		0 %
Wharf Clearing Activities		0.0		0.1 %	0.0		0 %		0.0		0.1 %		0.0		0.1 %		0.0		0 %
Transport Services		0.0		0 %	0.0		0 %		0.0		0 %		0.0		0 %		0.0		0 %
Segment Total		26.1		100 %	24.9		100 %		22.0		100 %		18.2		100 %		16.0		100 %
Intersegment Eliminations		-		-	-1.1		-4.5 %		-1.0		-4.4 %		-0.8		-4.3 %		0.7		4.6 %
Consolidated Total		26.1		100 %	24.9		100 %		21.0		95.6 %		17.4		95.7 %		16.7		104.6 %
Exchange Rate: LKR to USD		112.156148			115.030068				109.876270				110.372295				105.561639
Gross Profit USD (mil)
	31-Mar-11					31-Mar-10				31-Mar-09				31-Mar-08				31-Mar-07
Mnaufacturing and Trading	7.0		100.5 %			5.4		100.6 %		4.4		101.2 %		3.9		101.5 %		3.9		102.2 %
Promotional Activities	0.0		-0.2 %			0.0		-0.6 %		-0.1		-1.2 %		-0.1		-1.5 %		-0.1		-2.2 %
Hotel industry	0.0		0 %			0.0		0 %		0.0		0 %		0.0		0 %		0.0		0 %
Wharf Clearing Activities	0.0		-0.2 %			0.0		0 %		0.0		0 %		0.0		0 %		0.0		0 %
Transport Services	0.0		0 %			0.0		0 %		0.0		0 %		0.0		0 %		0.0		0 %
Segment Total	6.9		100 %			5.4		100 %		4.3		100 %		3.9		100 %		3.9		100 %
Consolidated Total	6.9		100 %			5.4		100 %		4.3		100 %		3.9		100 %		3.9		100 %
Exchange Rate: LKR to USD	112.156148					115.030068				109.876270				110.372295				105.561639

Gross Margin (%)
				31-Mar-11			31-Mar-10			31-Mar-09				31-Mar-08			31-Mar-07
Mnaufacturing and Trading				26.7		-	21.8		-	20.0		-		21.8		-	24.7		-
Promotional Activities				-128.0		-	-245.7		-	-119.5		-		-38.0		-	-		-
Wharf Clearing Activities				-123.2		-	0.0		-	0.0		-		0.0		-	-		-
Segment Total				26.6		-	21.6		-	19.7		-		21.3		-	24.2		-
Consolidated Total				26.6		-	21.6		-	20.6		-		22.2		-	23.1		-
Depreciation USD (mil)
	31-Mar-11		31-Mar-10		31-Mar-09						31-Mar-08				31-Mar-07
Mnaufacturing and Trading	0.2	100 %	0.2	96 %	0.2			95.3 %			0.1		86.6 %		0.2			82.1 %
Promotional Activities	0.0	0 %	0.0	4 %	0.0			4.7 %			0.0		13.4 %		0.0			17.9 %
Hotel industry	0.0	0 %	0.0	0 %	0.0			0 %			0.0		0 %		0.0			0 %
Wharf Clearing Activities	0.0	0 %	0.0	0 %	0.0			0 %			0.0		0 %		0.0			0 %
Transport Services	0.0	0 %	0.0	0 %	0.0			0 %			0.0		0 %		0.0			0 %
Segment Total	0.2	100 %	0.2	100 %	0.2			100 %			0.1		100 %		0.3			100 %
Consolidated Total	0.2	100 %	0.2	100 %	0.2			100 %			0.1		100 %		0.3			100 %
Exchange Rate: LKR to USD	112.156148		115.030068		109.876270						110.372295				105.561639

Operating Income/Loss USD (mil)
	31-Mar-11		31-Mar-10			31-Mar-09						31-Mar-08				31-Mar-07
Mnaufacturing and Trading	2.6	101 %	1.7	103.1 %		1.0			107.7 %			1.1		107.6 %		1.2			108 %
Promotional Activities	0.0	-0.3 %	0.0	-2.1 %		-0.1			-6 %			-0.1		-6.2 %		-0.1			-6.7 %
Hotel industry	0.0	0 %	0.0	0 %		0.0			-0.1 %			0.0		0 %		0.0			0 %
Wharf Clearing Activities	0.0	-0.6 %	0.0	-0.9 %		0.0			-1.6 %			0.0		-1.3 %		0.0			-1.2 %
Transport Services	0.0	0 %	0.0	0 %		0.0			-0.1 %			0.0		0 %		0.0			0 %
Segment Total	2.6	100 %	1.6	100 %		1.0			100 %			1.0		100 %		1.1			100 %
Consolidated Total	2.6	100 %	1.6	100 %		1.0			100 %			1.0		100 %		1.1			100 %
Exchange Rate: LKR to USD	112.156148		115.030068			109.876270						110.372295				105.561639
Operating Margin (%)
					31-Mar-11			31-Mar-10			31-Mar-09				31-Mar-08			31-Mar-07
Mnaufacturing and Trading					10.0		-	6.6		-	4.7		-		5.9		-	7.4		-
Promotional Activities					-58.6		-	-270.5		-	-132.4		-		-41.6		-	-		-
Wharf Clearing Activities					-123.2		-	-148.1		-	-129.0		-		-56.5		-	-		-
Segment Total					9.9		-	6.4		-	4.4		-		5.5		-	6.8		-
Consolidated Total					9.9		-	6.4		-	4.6		-		5.7		-	6.5		-

Interest Income - Non-Operating USD (mil)
		31-Mar-11				31-Mar-10				31-Mar-09				31-Mar-08
Mnaufacturing and Trading		0.1		100 %		0.1		100 %		0.2		100 %		0.2	100 %
Promotional Activities		-		-		0.0		0 %		0.0		0 %		0.0	0 %
Hotel industry		-		-		0.0		0 %		0.0		0 %		0.0	0 %
Wharf Clearing Activities		-		-		0.0		0 %		0.0		0 %		0.0	0 %
Transport Services		0.0		0 %		0.0		0 %		0.0		0 %		0.0	0 %
Segment Total		0.1		100 %		0.1		100 %		0.2		100 %		0.2	100 %
Consolidated Total		0.1		100 %		0.1		100 %		0.2		100 %		0.2	100 %
Exchange Rate: LKR to USD		112.156148				115.030068				109.876270				110.372295
Interest Expense - Operating USD (mil)
	31-Mar-11		31-Mar-10				31-Mar-09				31-Mar-08			31-Mar-07
Mnaufacturing and Trading	0.2	100 %	0.3		99.9 %		0.3		99.7 %		0.2		98.4 %	0.1	95.4 %
Promotional Activities	0.0	0 %	0.0		0.1 %		0.0		0.3 %		0.0		1.6 %	0.0	4.6 %
Hotel industry	0.0	0 %	0.0		0 %		0.0		0 %		0.0		0 %	0.0	0 %
Wharf Clearing Activities	0.0	0 %	0.0		0 %		0.0		0 %		0.0		0 %	0.0	0 %
Transport Services	0.0	0 %	0.0		0 %		0.0		0 %		0.0		0 %	0.0	0 %
Segment Total	0.2	100 %	0.3		100 %		0.3		100 %		0.2		100 %	0.1	100 %
Consolidated Total	0.2	100 %	0.3		100 %		0.3		100 %		0.2		100 %	0.1	100 %
Exchange Rate: LKR to USD	112.156148		115.030068				109.876270				110.372295			105.561639

Total Assets USD (mil)
	31-Mar-11		31-Mar-10			31-Mar-09						31-Mar-08				31-Mar-07
Mnaufacturing and Trading	22.9	100 %	15.4	99.9 %		15.0			99.9 %			13.7		90.7 %		11.7			99.6 %
Promotional Activities	0.0	0 %	0.0	0 %		0.0			0.1 %			0.0		0.2 %		0.0			0.3 %
Hotel industry	0.0	0 %	0.0	0 %		0.0			0 %			0.0		0 %		0.0			0 %
Wharf Clearing Activities	0.0	0 %	0.0	0 %		0.0			0 %			0.0		0 %		0.0			0 %
Transport Services	0.0	0 %	0.0	0 %		0.0			0 %			0.0		0 %		0.0			0 %
Investment in Equity Method Associate	-	-	-	-		1.7			11 %			1.4		9.1 %		-			-
Segment Total	22.9	100 %	15.4	100 %		15.0			100 %			15.1		100 %		11.7			100 %
Unallocated	-	-	1.6	10.6 %		1.7			11 %			-		-		-			-
Consolidated Total	22.9	100 %	15.4	100 %		16.7			111 %			15.1		100 %		11.7			100 %
Exchange Rate: LKR to USD	110.395000		114.050000			115.725000						107.800000				109.000000
Operating Return on Assets (%)
					31-Mar-11			31-Mar-10			31-Mar-09				31-Mar-08			31-Mar-07
Mnaufacturing and Trading					11.6		-	10.9		-	6.5		-		8.0		-	9.8		-
Promotional Activities					-168.0		-	-635.4		-	-367.4		-		-261.6		-	-175.2		-
Hotel industry					-93.3		-	-22.8		-	-47.4		-		-36.5		-	-21.0		-
Wharf Clearing Activities					-862.7		-	-805.6		-	-787.9		-		-664.4		-	-631.3		-
Transport Services					-268.4		-	-154.1		-	-186.1		-		-108.6		-	-97.1		-
Segment Total					11.5		-	10.5		-	6.1		-		6.7		-	9.0		-
Consolidated Total					11.5		-	10.5		-	5.5		-		6.7		-	9.0		-

Total Liabilities USD (mil)
	31-Mar-11		31-Mar-10		31-Mar-09		31-Mar-08		31-Mar-07
Mnaufacturing and Trading	7.9	99.7 %	7.8	99.7 %	8.4	99.4 %	6.9	99.4 %	5.5	99 %
Promotional Activities	0.0	0.3 %	0.0	0.2 %	0.1	0.6 %	0.0	0.6 %	0.1	1 %
Hotel industry	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Wharf Clearing Activities	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Transport Services	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Segment Total	7.9	100 %	7.8	100 %	8.4	100 %	7.0	100 %	5.6	100 %
Consolidated Total	7.9	100 %	7.8	100 %	8.4	100 %	7.0	100 %	5.6	100 %
Exchange Rate: LKR to USD	110.395000		114.050000		115.725000		107.800000		109.000000
Purchase of Fixed Assets USD (mil)
	31-Mar-11		31-Mar-10		31-Mar-09		31-Mar-08		31-Mar-07
Mnaufacturing and Trading	0.4	100 %	1.3	100 %	0.4	100 %	0.3	100 %	0.1	100 %
Promotional Activities	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Hotel industry	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Wharf Clearing Activities	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Transport Services	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %	0.0	0 %
Segment Total	0.4	100 %	1.3	100 %	0.4	100 %	0.3	100 %	0.1	100 %
Consolidated Total	0.4	100 %	1.3	100 %	0.4	100 %	0.3	100 %	0.1	100 %
Exchange Rate: LKR to USD	112.156148		115.030068		109.876270		110.372295		105.561639

Business Segments

Financials in: As Reported (mil)

Interim

External Revenue USD (mil)
	31-Dec-11		30-Sep-11		30-Jun-11		31-Dec-10		30-Sep-10
Consumer	3.9	58.1 %	3.1	44.6 %	2.6	43.1 %	3.4	51.7 %	5.3	48.6 %
Agrochemicals	-0.1	-1.7 %	0.9	13 %	0.9	15.6 %	0.8	12.8 %	1.2	11.4 %
Pharmaceuticals	1.0	14.1 %	2.9	42.4 %	2.5	41.3 %	2.3	35.5 %	4.4	40.1 %
Adjustments	2.0	29.5 %	-	-	-	-	-	-	-	-
Segment Total	6.7	100 %	6.9	100 %	6.0	100 %	6.6	100 %	10.9	100 %
Consolidated Total	6.7	100 %	6.9	100 %	6.0	100 %	6.6	100 %	10.9	100 %
Exchange Rate: LKR to USD	111.791290		109.807957		109.896774		111.478925		113.209000
Total Revenue USD (mil)
	31-Dec-11		30-Sep-11		30-Jun-11		31-Dec-10		30-Sep-10
Consumer	3.9	58.1 %	3.1	44.6 %	2.6	43.1 %	3.4	51.7 %	5.3	48.6 %
Agrochemicals	-0.1	-1.7 %	0.9	13 %	0.9	15.6 %	0.8	12.8 %	1.2	11.4 %
Pharmaceuticals	1.0	14.1 %	2.9	42.4 %	2.5	41.3 %	2.3	35.5 %	4.4	40.1 %
Adjustments	2.0	29.5 %	-	-	-	-	-	-	-	-
Segment Total	6.7	100 %	6.9	100 %	6.0	100 %	6.6	100 %	10.9	100 %
Consolidated Total	6.7	100 %	6.9	100 %	6.0	100 %	6.6	100 %	10.9	100 %
Exchange Rate: LKR to USD	111.791290		109.807957		109.896774		111.478925		113.209000

Gross Profit USD (mil)
	31-Dec-11		30-Sep-11			30-Jun-11						31-Dec-10				30-Sep-10
Consumer	0.6	31.7 %	0.7	30.4 %		0.6			53.7 %			0.7		42.9 %		1.2			43.6 %
Agrochemicals	-0.1	-4.4 %	0.4	16.2 %		0.1			10.1 %			0.2		13.5 %		0.3			10.9 %
Pharmaceuticals	-0.1	-3.7 %	1.3	53.3 %		0.4			36.1 %			0.7		43.6 %		1.2			45.5 %
Adjustments	1.4	76.5 %	-	-		-			-			-		-		-			-
Segment Total	1.9	100 %	2.4	100 %		1.1			100 %			1.7		100 %		2.7			100 %
Consolidated Total	1.9	100 %	2.4	100 %		1.1			100 %			1.7		100 %		2.7			100 %
Exchange Rate: LKR to USD	111.791290		109.807957			109.896774						111.478925				113.209000
Gross Margin (%)
					31-Dec-11			30-Sep-11			30-Jun-11				31-Dec-10			30-Sep-10
Consumer					15.0		-	23.6		-	22.3		-		21.0		-	22.4		-
Agrochemicals					70.4		-	43.3		-	11.6		-		26.5		-	24.0		-
Pharmaceuticals					-7.3		-	43.5		-	15.6		-		31.0		-	28.3		-
Adjustments					71.6		-	-		-	-		-		-		-	-		-
Segment Total					27.6		-	34.6		-	17.9		-		25.2		-	25.0		-
Consolidated Total					27.6		-	34.6		-	17.9		-		25.2		-	25.0		-

Operating Income/Loss USD (mil)
	31-Dec-11			30-Sep-11				30-Jun-11					30-Sep-10
Consumer	0.2	33.2 %		0.1			17.9 %	0.1			17.3 %		0.2	24.7 %
Agrochemicals	0.1	15.7 %		0.1			12.8 %	0.1			15.5 %		0.1	12.1 %
Pharmaceuticals	0.3	51.2 %		0.3			69.3 %	0.3			67.2 %		0.5	63.2 %
Segment Total	0.7	100 %		0.5			100 %	0.5			100 %		0.7	100 %
Consolidated Total	0.7	100 %		0.5			100 %	0.5			100 %		0.7	100 %
Exchange Rate: LKR to USD	111.791290			109.807957				109.896774					113.209000
Operating Margin (%)
			31-Dec-11			30-Sep-11				30-Jun-11			30-Sep-10
Consumer			5.8		-	2.9			-	3.2		-	3.5	-
Agrochemicals			-91.8		-	7.2			-	7.8		-	7.2	-
Pharmaceuticals			36.8		-	11.9			-	12.8		-	10.7	-
Segment Total			10.1		-	7.3			-	7.8		-	6.8	-
Consolidated Total			10.1		-	7.3			-	7.8		-	6.8	-

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.15
UK Pound	1	Rs.86.00
Euro	1	Rs.68.31

INFORMATION DETAILS

Report Prepared by :

MNL

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%)

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