SUNSHINE HOLDINGS PLC
Annual Report 2021/22
| Group | Company | |||||
| For the year ended 31 March | Note | 2022 Rs. |
2021
Rs. |
2022
Rs. |
2021
Restated* Rs. |
2021
Previously
reported** Rs. |
| Continuing operations | ||||||
| Revenue | 10 | 32,166,208,979 | 24,339,446,156 | 1,075,338,436 | 850,202,179 | 850,202,179 |
| Cost of sales | (21,927,172,553) | (16,601,729,049) | – | – | – | |
| Gross profit | 10,239,036,426 | 7,737,717,107 | 1,075,338,436 | 850,202,179 | 850,202,179 | |
| Other income | 11 | 563,541,787 | 291,436,825 | 400,666,055 | 354,688,067 | 341,800,630 |
| Selling and distribution expenses | (2,327,421,928) | (2,182,677,904) | – | – | – | |
| Administrative expenses | (2,766,082,470) | (2,177,851,096) | (588,900,644) | (472,540,034) | (449,704,631) | |
| Impairment of asset held for sale | 42 | – | (143,246,439) | |||
| Impairment of investment in equity-accounted investee/subsidiary | 24/25 | – | – | (436,572) | (59,452) | (59,452) |
| (Loss)/Gain on disposal of subsidiaries/Associates | 24.3.i | (2,705,775) | – | 59,173,066 | 2,032,745,933 | 2,032,745,933 |
| Gain on disposal of subsidiary shares | 24.4 | – | – | – | 260,563,654 | 260,563,654 |
| Operating profit | 12 | 5,706,368,040 | 3,525,378,493 | 945,840,341 | 3,025,600,347 | 3,035,548,313 |
| Finance income | 13 | 366,448,549 | 252,646,432 | 96,334,771 | 169,448,305 | 156,225,875 |
| Finance costs | 13 | (375,706,666) | (468,793,779) | (3,890,181) | (171,019,885) | (170,998,805) |
| Net finance costs | (9,258,117) | (216,147,347) | 92,444,590 | (1,571,580) | (14,772,930) | |
| Share of profit/(loss) of equity-accounted investees, net of tax | 25 | (436,572) | (92,356) | – | – | – |
| Impairment of goodwill | (50,000,000) | – | – | – | – | |
| Profit before tax | 5,646,673,351 | 3,309,138,790 | 1,038,284,931 | 3,024,028,767 | 3,020,775,383 | |
| Income tax expenses | 14 | (650,001,269) | (771,610,789) | (15,452,669) | (117,953,217) | (117,053,693) |
| Profit for the year | 4,996,672,082 | 2,537,528,001 | 1,022,832,262 | 2,906,075,550 | 2,903,721,690 | |
| Other comprehensive income | ||||||
| Items that will not be reclassified to profit or loss | ||||||
| Remeasurement of retirement benefit liability | 132,572,210 | (25,750,348) | 13,070,842 | 5,713,081 | 6,049,909 | |
| Equity investments at FVOCI – net change in fair value | (65,125,525) | (32,088,698) | (65,125,525) | (32,088,698) | (32,088,698) | |
| Related tax | (6,574,130) | 18,776,503 | 12,412,284 | 10,993,723 | 10,912,884 | |
| 60,872,555 | (39,062,543) | (39,642,399) | (15,381,894) | (15,125,905) | ||
| Items that are or may be reclassified subsequently to profit or loss | ||||||
| Foreign operations – foreign currency translation differences | 9,505,900 | 1,092,211 | – | – | – | |
| 9,505,900 | 1,092,211 | – | – | – | ||
| Other comprehensive income for the year, net of tax | 70,378,455 | (37,970,332) | (39,642,399) | (15,381,894) | (15,125,905) | |
| Total comprehensive income for the year | 5,067,050,537 | 2,499,557,669 | 983,189,863 | 2,890,693,656 | 2,888,595,785 | |
| Profit attributable to: | ||||||
| Owners of the Company | 2,720,742,972 | 1,522,207,103 | 1,022,832,262 | 2,906,075,550 | 2,903,721,690 | |
| Non-controlling interests | 2,275,929,110 | 1,015,320,898 | – | – | – | |
| 4,996,672,082 | 2,537,528,001 | 1,022,832,262 | 2,906,075,550 | 2,903,721,690 | ||
| Total comprehensive income attributable to: | ||||||
| Owners of the Company | 2,752,163,859 | 1,478,363,138 | 983,189,863 | 2,890,693,656 | 2,888,595,785 | |
| Non-controlling interests | 2,314,886,678 | 1,021,194,531 | – | – | – | |
| Total comprehensive income for the year | 5,067,050,537 | 2,499,557,669 | 983,189,863 | 2,890,693,656 | 2,888,595,785 | |
| Earnings per share | ||||||
| Basic earnings per share (Rs.) | 16 | 6.06 | 3.39 | 2.28 | 6.48 | 6.47 |
| Diluted earnings per share (Rs.) | 16 | 6.06 | 3.39 | 2.28 | 6.48 | 6.47 |
* The balances presented represent the restated balances for the year ended 31 March 2021 to reflect the adjustments made as if the amalgamation between the Company and Sunshine Energy (Pvt) Limited, took place on 1 April 2020. Refer Note 46.
** The balances presented represent the balances as reported in the Audited Financial Statements for the year ended 31 March 2021. These balances are presented for the purposes of comparability.
Figures in brackets indicate deductions.
The Notes to the Financial Statements on pages 65 and 179 are integral part of these Consolidated Financial Statements.