SUNSHINE HOLDINGS PLC

Annual Report 2019/20

Financial Reports

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Group Company
As at 31 March Note 2020
Rs.
2019
Rs.
2020
Rs.
2019
Rs.
Assets
Property, plant and equipment 19 4,719,959,469 5,800,454,817 45,352,383 16,333,639
Intangible assets 20 165,942,721 192,415,059 4,685 27,247
Leasehold land 21 241,439,000 183,963,000
Biological assets 22 3,449,345,000 4,694,037,000
Investment property 23 709,499,144 327,205,000
Investments in subsidiaries 24 3,388,401,971 3,313,401,971
Equity-accounted investee 25 1,384,362 2,798,296 1,351,459 9,000,000
Other investments, including derivatives 26 1,070,904,297 976,129,267 727,179,297 647,625,267
Deferred tax assets 27 65,787,835 57,495,834 32,017,938 17,997,095
Non-current assets 10,424,261,828 12,234,498,273 4,194,307,733 4,004,385,219
Biological assets 22 41,797,000 45,883,000
Inventories 28 3,177,211,186 3,906,410,205
Other investments, including derivatives 26 234,792,226 203,742,135 234,792,226 203,742,135
Current tax assets 29 9,893,358 9,893,358 3,158,748 3,158,748
Trade and other receivables 30 4,295,571,105 3,748,583,413 95,768,884 62,655,417
Amounts due from related parties 31 78,704,645 27,998,528 240,777,370 225,727,276
Cash and cash equivalents 32 4,572,232,065 1,883,372,118 2,238,482,618 1,082,109,987
Current assets 12,410,201,585 9,825,882,757 2,812,979,846 1,577,393,563
Total assets 22,834,463,413 22,060,381,030 7,007,287,579 5,581,778,782
Equity
Stated capital 33 1,641,715,247 1,641,715,247 1,641,715,247 1,641,715,247
Reserves 33 357,607,494 386,181,165 351,106,481 380,153,740
Retained earnings 33 6,414,817,615 5,488,287,477 1,916,338,466 1,781,111,291
Equity attributable to owners of the company 8,414,140,356 7,516,183,889 3,909,160,194 3,802,980,278
Non-controlling interests 4,035,566,113 3,476,651,011
Total equity 12,449,706,469 10,992,834,900 3,909,160,194 3,802,980,278
Liabilities
Loans and borrowings 34 2,311,846,644 3,299,921,582 939,000,820 1,235,793,320
Employee benefits 35 559,458,926 1,499,417,004 96,712,325 87,068,695
Deferred income and capital grants 36 142,550,000 320,693,000
Deferred tax liabilities 27 533,907,412 512,234,939
Non-current liabilities 3,547,762,982 5,632,266,525 1,035,713,145 1,322,862,015
Trade and other payables 37 2,450,696,950 3,238,148,496 20,989,334 22,455,842
Amounts due to related parties 38 27,513,242 25,190,848 2,651,108
Current tax liabilities 29 223,047,621 232,129,915 4,365,938
Loans and borrowings 34 2,971,899,695 1,113,040,848 1,986,273,778 429,114,709
Bank overdraft 32 1,163,836,455 826,769,498 52,500,020
Current liabilities 6,836,993,963 5,435,279,605 2,062,414,240 455,936,489
Total liabilities 10,384,756,945 11,067,546,130 3,098,127,385 1,778,798,504
Total equity and liabilities 22,834,463,413 22,060,381,030 7,007,287,579 5,581,778,782
Net assets per share 56.26 50.26 26.14 25.43

Figures in brackets indicate deductions.

The Group initially applied SLFRS 16 at 1 April 2019, using the modified retrospective approach. Under this approach, comparative information is not restated. (See Notes 7 and 34).

The Notes to the Financial Statements on pages 57 to 159 are 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

27 May 2020
Colombo

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