SUNSHINE HOLDINGS PLC

Annual Report 2018/19

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Statement of Financial Position

GROUP COMPANY
As at 31 March Note 2019
Rs.		 2018
Rs. 		2019
Rs. 		2018
Rs.
Assets
Property, plant and equipment 19 5,800,454,817 5,484,349,584 16,333,639 3,290,687
Intangible assets 20 192,415,059 153,596,702 27,247 780,372
Leasehold land 21 183,963,000 190,997,000 – –
Biological assets 22 4,694,037,000 4,408,582,000 – –
Investment property 23 327,205,000 327,205,000 – –
Investments in subsidiaries 24 – – 3,313,401,971 3,017,900,921
Equity accounted investee 25 2,798,296 7,959,615 9,000,000 9,000,000
Other investments, including derivatives 26 976,129,267 941,991,456 647,625,267 642,633,456
Deferred tax assets 27 57,495,834 73,620,009 17,997,095 –
Non-current assets 12,234,498,273 11,588,301,366 4,004,385,219 3,673,605,436
Inventories 28 3,906,410,206 3,970,538,867 – –
Biological assets 22 45,883,000 49,034,000 – –
Other investments, including derivatives 26 203,742,135 – 203,742,135 –
Current tax assets 29 9,893,358 9,366,776 3,158,748 3,158,748
Trade and other receivables 30 3,788,362,024 3,233,987,996 102,434,027 59,406,435
Amounts due from related parties 31 27,998,528 14,950,556 225,727,276 170,891,161
Cash and cash equivalents 32 1,843,593,506 1,374,218,432 1,042,331,375 526,335,611
9,825,882,756 8,652,096,626 1,577,393,561 759,791,955
Assets held for sale 33 – 53,813,315 – –
Current assets 9,825,882,756 8,705,909,941 1,577,393,561 759,791,955
Total assets 22,060,381,028 20,294,211,307 5,581,778,780 4,433,397,391
Equity
Stated capital 34 1,641,715,247 798,504,357 1,641,715,247 798,504,357
Reserves 34 386,181,166 390,893,755 380,153,740 364,012,083
Retained earnings 5,488,287,476 5,185,526,424 1,781,111,290 1,767,356,201
Equity attributable to owners of the Company 7,516,183,889 6,374,924,536 3,802,980,277 2,929,872,641
Non-controling interests 34 3,476,651,011 3,427,198,621 – –
Total equity 10,992,834,900 9,802,123,157 3,802,980,277 2,929,872,641
Liabilities
Loans and borrowings 35 3,299,921,582 3,572,013,986 1,235,793,320 1,143,330,000
Employee benefits 36 1,499,417,004 1,062,640,865 87,068,694 78,399,096
Deferred income and capital grants 37 320,693,000 377,516,000 – –
Deferred tax liabilities 27 512,234,939 450,505,341 – –
Non-current liabilities 5,632,266,525 5,462,676,192 1,322,862,014 1,221,729,096
Bank overdraft 32 826,769,498 927,663,776 – –
Current tax liabilities 29 227,763,976 168,509,469 – –
Loans and borrowings 35 1,113,040,848 808,963,648 429,114,709 256,670,000
Trade and other payables 38 3,242,514,434 3,120,599,883 26,821,780 25,125,655
Amounts due to related parties 39 25,190,848 3,675,182 – –
Current liabilities 5,435,279,604 5,029,411,958 455,936,489 281,795,655
Total liabilities 11,067,546,129 10,492,088,150 1,778,798,503 1,503,524,751
Total equity and liabilities 22,060,381,028 20,294,211,307 5,581,778,780 4,433,397,391
Net assets per share 50.26 46.71 25.43 21.47

Figures in brackets indicate deductions.

The Group has initially adopted SLFRS 15 and SLFRS 9 from 1 April 2018. Under the transition methods chosen, comparative information have not been restated.

The Notes appearing on this Annual Report form an integral part of these Consolidated Financial Statements.

It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007.

 

Aruna Deepthikumara
Group Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Approved and signed for and on behalf of the Board,

Munir Shaikh
Chairman		 V Govindasamy
Group Managing Director

30 May 2019
Colombo

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