INTERIM REPORT
FOURTH QUARTER ENDED
31ST MARCH 2024
UNISYST ENGINEERING PLC
STATEMENT OF FINANCIAL POSITION
As at 31st March 2024 31st March 31st March
2024 2023
Rs. 000 Rs. 000
Un Audited Audited
ASSETS
Non-Current Assets
Property, Plant & Equipment 160,800 161,872
Intangible Assets 1,340 1,589
Deferred Tax Assets - -
162,141 163,461
Current Assets
Inventories 78,556 42,760
Construction Work in Progress 61,577 66,702
Trade and Other Receivables 441,721 421,746
Amounts Due from Related Companies 8,116 11,234
Contract Assets 114,958 74,279
Cash and Bank Balances 58,903 7,033
763,833 623,755
Total Assets 925,974 787,216
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital 446,673 446,673
Revaluation Reserves 104,331 96,154
Retained Earnings (655,581) (662,561)
Total Equity (104,577) (119,735)
Non-Current Liabilities
Interest Bearing Loans and Borrowings 25,000 25,000
Employee Benefit Obligations 8,897 7,303
33,897 32,303
Current Liabilities
Interest Bearing Loans and Borrowings 215,760 251,368
Trade and Other Payables 273,427 232,360
Contract Liabilities 133,089 116,278
Amounts Due to Related Companies 271,254 111,408
Bank Overdrafts 103,122 163,234
996,653 874,648
Total Liabilities 1,030,550 906,951
Total Equity and Liabilities 925,974 787,216
Net Assets per share (Rs.) (2.37) (2.71)
The above figures are provisional and unaudited.
The Financial Statements are in compliance with the requirements of the Companies Act No. 7 of 2007
Sgd
......……………………………
M. L. M. K. Silva
Asst. Finance Manager
The Board of Directors is responsible for the preparation and presentation of these financial
statements. Signed for and on behalf of the board by,
Sgd
……………………………… Sgd
……………………………...…………
A.M Pandithage L.R.V. Waidyaratne
Chairman Deputy Chairman
Colombo
14th May 2024
Figures in brackets indicate deductions
UNISYST ENGINEERING PLC
STATEMENT OF PROFIT OR LOSS
For the period of Three Months ended Year ended
31st March 31st March 31st March 31st March
2024 2023 Change 2024 2023 Change
Rs. 000 Rs. 000 % Rs. 000 Rs. 000 %
Un Audited Audited Un Audited Audited
Revenue 681,233 184,064 270% 866,657 783,911 11%
Cost of Sales (561,732) (229,823) >-100% (719,999) (751,118) -4%
Gross Profit 119,501 (45,759) >-100% 146,658 32,794 347%
Other Operating Income 1,277 3,143 >100% 2,561 12,071 -79%
Distribution Expenses 5,901 (11,532) -151% 14,695 (4,925) -398%
Administrative Expenses (23,732) (43,045) -45% (108,744) (96,234) 13%
Results from Operating Activities 102,947 (97,193) >-100% 55,171 (56,294) -198%
Finance Income (413) 38 >-100% 1,958 141 1284%
Finance Cost 10,134 (7,435) -236% (50,451) (88,410) >-100%
Net Finance Expense 9,721 (7,397) -231% 6,678 (144,563) -105%
Profit /(Loss) Before Tax 112,668 (104,590) >-100% 6,678 (144,563) -105%
Tax (Expense)/Reversal 2,544 (899) >-100% 2,544 (29,924) >-100%
Profit /(Loss) for the Period 115,212 (105,489) >-100% 9,222 (174,487) -105%
Earnings /(Loss) Per Share (Rs. ) 2.61 (0.46) 0.21 (3.96)
The above figures are provisional and unaudited.
Figures in brackets indicate deductions
UNISYST ENGINEERING PLC
STATEMENT OF COMPREHENSIVE INCOME
For the period ended Three months ended Year ended
31st March 31st March 31st March 31st March
2024 2023 Change 2024 2023
Change %
Rs. 000 Rs. 000 % Rs. 000 Rs. 000
Un Audited Audited Un Audited Audited
Loss for the period 115,212 13,486 >-100% 9,222 (174,487) -105%
Other Comprehensive income
Revaluation of land and Building 20,105 >100% 20,105 >100%
Defined Benefits Plan Actuarial Gains / (Losses) 212 (903) >-100% 212 (903) >-100%
Differed Tax on Revaluation (2,453) (13,486) >-100% (2,453) (13,757) >-100%
Income Tax on Other Comprehensive Income 271 >100% 271 >100%
Other Comprehensive income for the period, net of tax (2,241) 5,987 >100% (2,241) 5,716 >100%
Total Comprehensive income for the period, net of tax 112,971 19,473 >-100% 6,981 (168,770) -104%
The above figures are provisional and unaudited.
Figures in brackets indicate deductions
UNISYST ENGINEERING PLC
STATEMENT OF CHANGES IN EQUITY
For the period ended Stated Revaluation Retained
Total
Capital Reserve Earnings
Rs. 000 Rs. 000 Rs. 000 Rs. 000
Balance as at 01 st April 2022 446,673 89,806 (487,442) 49,037
Loss for the period - - (174,487) (174,487)
Revaluation Gain on Land and Building - 20,105 - 20,105
Differed Tax on Revaluation - (13,757) - (13,757)
Acturial gains/(losses) on Employee Benefit Obligation - - (903) (903)
Income tax on Other Comprehensive income 271 271
Total Other Comprehensive Income - - - -
Total Comprehensive Income - 6,349 (175,119) (168,770)
Balance as at 31st March 2023 446,673 96,155 (662,561) (119,733)
Balance as at 01 st April 2023 446,673 96,155 (662,561) (119,733)
Loss for the period 9,222 9,222
Other comprehensive Income -
Revaluation Gain on Land and Building 8,177 8,177
Differed Tax on Revaluation (2,453) (2,453)
Acturial gains/(losses) on Employee Benefit Obligation 212 212
Total Other Comprehensive Income -
Total Comprehensive Income -
Balance as at 31st March 2024 446,673 96,155 (653,338) (104,575)
The above figures are provisional and unaudited.
Figures in brackets indicate deductions
UNISYST ENGINEERING PLC
STATEMENT OF CASH FLOWS
For the period ended Year ended
31st Mar 31st Mar
2024 2023
Cash Flows From / (Used in) Operating Activities Rs. 000 Rs. 000
Audited Audited
Net loss before tax
Adjustments for 9,222 (129,432)
Depreciation 9,497 10,148
Derecognition of Right to use Asset
(Profit) / Loss on sale of Property, Plant and Equipment
Finance Income (1,958) (2,806)
Finance Costs (50,451) 19,198
Provision/write off for bad and doubtful debts 19,039 4,754
Write Back of inventories 5,603 1,466
Tax Adjustments (2,544)
Provision for Employee Benefit Obligations 2,421 1,814
(9,170) (94,858)
Changes in
Inventories (30,671) 67,180
Trade and other receivables (19,975) (68,963)
Contract Assets (40,679) (15,328)
Trade and other payables 57,878 26,670
Amounts Due to Related Companies/Amount Due from related companies 181,123 (24,196)
Cash generated from operations 138,505 (109,495)
Finance Income Received 203 2,806
Finance Costs Paid (50,648) (19,042)
Define Benifits Plan cost (523) (790)
Income tax Paid -
Net cash flows from operating activities 87,537 (126,521)
Cash flows from / (Used in) investing activities
Acquisition of property, plant & equipment - (4,384)
Net cash flows from/(used in) Investing activities - (4,384)
Cash flows from / (Used in) financing activities
Proceeds from interest bearing loans & borrowings 100,000 545,817
Repayment of interest bearing loans & borrowings (135,608) (414,464)
Capital portion of Lease rentals paid
Net cash flows from/(used in) financing activities (35,608) 131,352
Net increase/(decrease) in cash and cash equivalents 51,929 449
Cash and cash equivalents at the beginning of the year (7,710) (8,159)
Cash and cash equivalents at the end of the year 44,219 (7,710)
Analysis of cash and cash equivalents
Cash & cash equivalents 58,903 11,139
Short - term deposits -
Bank Overdrafts 103,122 (18,849)
Cash and cash equivalents at the end of the year 44,220 (7,710)
The above figures are provisional and unaudited.
Figures in brackets indicate deductions
UNISYST ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
1 Corporate information
Unisyst Engineering PLC, is a public limited company incorporated and domiciled in Sri Lanka and Ordinary shares of the company are listed on
the Colombo Stock Exchange.
The interim financial statements of the Company for the period ended 31st March 2024 were authorised for issue on 14th May 2024 by the Board
of Directors.
2 Basis of preparation
The interim condensed financial statements have been prepared in compliance with Sri Lanka Accounting Standard (SLAS) LKAS 34 -
Interim Financial Reporting.
The Interim Financial Statements of the Company have been prepared on the basis of the same accounting policies and methods applied for the
year ended 31st March 2024.
s
3 Share information
3.1 STATED CAPITAL 2024 2023
Number Number
Number of Ordinary Shares Issued and Fully Paid
At the beginning of the Year 44,116,400 44,116,400
At the end of the Year 44,116,400 44,116,400
Value of Issued and Fully Paid Ordinary Shares Rs '000 Rs '000
At the beginning of the Year 446,673 446,673
At the end of the Year 446,673 446,673
3.2 Share prices recorded during the Second quarter
For the Fourth quarter For the Year Ended
2024 2023 2024 2023
Rs. Rs. Rs. Rs.
Highest 22.30 21.90 22.50 22.90
Lowest 9.80 6.50 7.10 5.60
Last Traded 11.50 7.00 11.50 7.00
UNISYST ENGINEERING PLC
NOTES TO THE FINANCIAL STATEMENTS
3.3 Names and Number of Shares held by the 20 largest holders of voting shares and the percentage of shares held.
UNISYST ENGINEERING PLC
FIRST 20 SHAREHOLDERS AS AT 31ST MARCH 2024 (Last Traded Date 19th July 2023)
Name of the Shareholder No of Shares %
as at 31.03.2024
1 ADVANTIS PROJECTS & ENGINEERING (PVT) LTD 28,739,393 65.14
2 BANK OF CEYLON NO. 1 ACCOUNT 1,673,758 3.79
3 DR. D. JAYANNTHA 1,180,000 2.67
4 HATTON NATIONAL BANK PLC/ANUJA CHAMILA JAYASINGHE 360,288 0.82
5 MR. MOHAMED SADIQ RUZLY SHAMSUDEEN 316,522 0.72
6 DIALOG FINANCE PLC / N. W. D. I. S. SIRIMANNA 308,402 0.70
7 Mr. J. M. S. J. B. P. PEIRIS 300,000 0.68
8 MR. M. M. S. RAZA 297,582 0.67
9 HATTON NATIONAL BANK PLC/ R. P. SUGATHADASA 254,574 0.58
10 MR. TUAN NALEER DOLE 250,674 0.57
11 MR. M.S. S. CHANDRA 226,716 0.51
12 MR. K. A. D. ANURADA PERERA 200,000 0.45
13 MR. M. H. H. OSSMAN 180,000 0.41
MR. R. E. RAMBUKWELLE 180,000 0.41
14 MRS. N. R. N. SIRISENA 171,735 0.39
15 SEYLAN BANK LIMITED/ R. P. SUGATHADASA 169,574 0.38
16 MR. SIVAN GNANASEKARAN & MRS. M. GNANASEKARAN 161,005 0.36
17 PMF FINANCE PLC/ S.D. SENEVIRATNE 150,000 0.34
18 MERCHANT BANK OF SRI LANKA & FINANCE PLC/H.M.C.B. MAWILMADA 148,778 0.34
19 MR. G. G. A. M. R. K ABEYKOON 139,655 0.32
20 MERCHANT BANK OF SRI LANKA & FINANCE PLC 01 135,000 0.31
TOTAL 35,543,656 80.57
PERCENTAGE OF PUBLIC HOLDING 34.78%
TOTAL NO. OF SHAREHOLDERS REPRESENTING PUBLIC HOLDING 1,680
FLOAT-ADJUSTED MARKET CAPITALIZATION 88,993,366.74
The Company complies with option 5 of the Listing Rules 7.13.1 (i) (a) – Less than Rs.2.5 Bn
Float Adjusted Market Capitalization which requires 20% minimum Public Holding.
SHARE TRADING INFORMATION
* Trading of the Securities of ALUF.N0000 was suspended with effect from 20th July 2023.
3.5 Directors' share holdings
The number of shares held by the Board of directors as at 31 st March 2024 was as follows:
DIRECTORS SHARE HOLDINGS AS AT 31ST MARCH 2024
MR. A. M. PANDITHAGE NIL
MR. S. C. GANEGODA 31,310
MR. S. J. WIJESINGHE (Expired 26/07/2023) NIL
MR. A. S. JAYATILLEKA NIL
MR. S. MUNAWEERA 292
MR. J. SHERIFF NIL
MR. S. KARUNARATNE NIL
MR. L. R. V. WAIDYARATNE NIL
MR. P. J. JAYANETTI NIL
* Trading of the Securities of ALUF.N0000 was suspended with effect from 20th July 2023.
04 There has not been a significant change in the nature of the contingent liabilities, which were disclosed in the Annual Report for the year
ended 31st March 2023.
05 No circumstances have arisen since the reporting date, which would require adjustments to or disclosure in the financial statements.
06 All values included in these financial statements are in Rs.'000s unless otherwise stated.
UNISYST ENGINEERING PLC
CORPORATE INFORMATION
Name of the Company/Registration Number
Unisyst Engineering PLC/PQ229
Board of Directors
MR. A. M. PANDITHAGE
MR. S. C. GANEGODA
MR. S. J. WIJESINGHE (Expired 26/07/2023)
MR. A. S. JAYATILLEKA
MR. S. MUNAWEERA
MR. J. SHERIFF
MR. S. KARUNARATNE
MR. L. R. V. WAIDYARATNE
MR. P. J. JAYANETTI
Audit Committee
Mr.S.Munaweera - (Chairman)
Mr.A.S Jayatillaka
Registered Office
No 400, Deans Road,
Colombo - 10, Sri Lanka
Telephone : (94 11)4347474
Legal Form
Public Limited Liability Company.
Company Secretary
Hayleys Group Services (Pvt) Ltd
400, Deans Road, Colombo-10
Sri Lanka
Telephone : (94-11)2627650
Facsimile : (94-11)2627645
E-mail : info.sec@hayleys.com
Bankers
Union Bank of Colombo PLC
Corporate Branch
64, Galle Road
Colombo -03
Hatton National Bank PLC
Corporate Branch
479, T.B Jayah Mawatha
Colombo -10
Sampath Bank PLC
Corporate Branch
110, Sir James Pieris Mawatha
Colombo -02
