Group | Company | ||||||
As at | 31.03.2013 | 31.03.2012 | 01.04.2011 | 31.03.2013 | 31.03.2012 | 01.04.2011 | |
Note | Rs. ’000 | Rs. ’000 | Rs. ’000 | Rs. ’000 | Rs. ’000 | Rs. ’000 | |
Assets | |||||||
Non-Current Assets | |||||||
Property, plant & equipment | 16 | 5,567,369 | 4,658,274 | 3,060,039 | 5,523,513 | 4,620,754 | 3,026,027 |
Lease rentals paid in advance | 17 | 33,346 | 35,551 | 37,756 | 33,346 | 35,551 | 37,756 |
Intangible assets | 18 | 2,136 | 3,079 | 702 | 2,136 | 3,079 | 702 |
Investment in subsidiaries | 19 | – | – | – | 11,145 | 11,145 | 8,350 |
Financial assets available-for-sale |
20 | 5,077 | 3,690 | 5,295 | 5,054 | 3,663 | 5,256 |
Deferred tax assets | 28 | 111,082 | 62,841 | 51,052 | 107,280 | 60,711 | 48,640 |
Total non-current assets | 5,719,010 | 4,763,435 | 3,154,844 | 5,682,474 | 4,734,903 | 3,126,731 | |
Current Assets | |||||||
Inventories | 21 | 4,141,906 | 8,151,035 | 2,483,958 | 4,055,558 | 8,075,867 | 2,419,515 |
Trade and other receivables | 22 | 2,086,115 | 1,809,028 | 3,151,623 | 1,654,001 | 1,585,934 | 3,094,359 |
Other current assets | 23 | 204,189 | 259,630 | 152,411 | 175,881 | 230,763 | 131,660 |
Current tax asset | 33 | 67,081 | – | – | 102,176 | – | – |
Cash and cash equivalents | 24 | 682,078 | 317,090 | 1,871,046 | 615,156 | 178,996 | 1,801,370 |
Total current assets | 7,181,369 | 10,536,783 | 7,659,038 | 6,602,772 | 10,071,560 | 7,446,904 | |
Total assets | 12,900,379 | 15,300,218 | 10,813,882 | 12,285,246 | 14,806,463 | 10,573,635 | |
Equity and Liabilities | |||||||
Equity | |||||||
Stated capital | 25 | 425,297 | 425,297 | 182,500 | 425,297 | 425,297 | 182,500 |
Capital reserve | 2,014,752 | 2,014,752 | 1,135,612 | 2,014,752 | 2,014,752 | 1,135,612 | |
Revenue reserves | 26 | 5,191,118 | 5,000,566 | 2,876,865 | 4,701,223 | 4,616,945 | 2,623,573 |
Total equity attributable to the equity holders of the Company |
7,631,167 | 7,440,615 | 4,194,977 | 7,141,272 | 7,056,994 | 3,941,685 | |
Non-Current Liabilities | |||||||
Long-term borrowings | 29 | 540,243 | 770,203 | 316,830 | 540,243 | 770,203 | 316,830 |
Defined benefit obligation | 27 | 287,046 | 224,434 | 182,327 | 273,471 | 216,824 | 173,713 |
Deferred tax liabilities | 28 | 96,724 | 91,198 | 109,209 | 92,679 | 87,963 | 105,795 |
Deferred income | 30 | 140,312 | 179,769 | 91,658 | 77,311 | 147,809 | 91,657 |
Total non-current liabilities | 1,064,325 | 1,265,604 | 700,024 | 983,704 | 1,222,799 | 687,995 | |
Current Liabilities | |||||||
Trade payables | 31 | 843,044 | 1,487,608 | 1,558,804 | 792,718 | 1,446,635 | 1,500,568 |
Other current liabilities | 32 | 484,286 | 702,489 | 608,954 | 462,254 | 675,801 | 583,238 |
Current portion of long-term borrowings |
29 | 229,960 | 229,960 | 93,015 | 229,960 | 229,960 | 93,015 |
Current tax liabilities | 33 | – | 128,276 | 999,487 | – | 105,032 | 1,006,205 |
Short-term borrowings | 34 | 2,647,597 | 4,045,666 | 2,658,621 | 2,518,226 | 3,970,625 | 2,647,224 |
Amounts due to subsidiaries | 35 | – | – | – | 157,112 | 98,617 | 113,705 |
Total current liabilities | 4,204,887 | 6,593,999 | 5,918,881 | 4,160,270 | 6,526,670 | 5,943,955 | |
Total liabilities | 5,269,212 | 7,859,603 | 6,618,905 | 5,143,974 | 7,749,469 | 6,631,950 | |
Total equity and liabilities | 12,900,379 | 15,300,218 | 10,813,882 | 12,285,246 | 14,806,463 | 10,573,635 |
It is certified that the Financial Statements as set out on pages 81 to 120 have been prepared in accordance with the requirements of the Companies Act No. 07 of 2007 and give a true and fair view of the Financial Position of Diesel & Motor Engineering PLC and the Group as at 31st March 2013 and the financial performance for the year ended.
E.D.C. Kodituwakku
General Manager - Finance & Controlling/Member - Group Management Committee
The Directors are responsible for the preparation and presentation of these Financial Statements.
Signed for and on behalf of the Board,
A.R. Pandithage
Chairman/Managing Director
B.C.S.A.P. Gooneratne
Director/Chief Financial Officer
21st May 2013
Colombo