Group		Company
As at 31 March	Note	2021 Rs.	2020 Rs.	2021 Rs.	2020 Restated* Rs.	2020 Previously reported** Rs.
Assets
Property, plant and equipment	19	4,794,110,834	4,719,959,469	33,067,152	45,406,172	45,352,383
Intangible assets	20	249,057,345	165,942,721	7,555,660	4,685	4,685
Leasehold land	21	238,853,000	241,439,000	–	–	–
Biological assets	22	3,492,193,000	3,449,345,000	–	–	–
Investment property	23	769,499,144	709,499,144	–	–	–
Investments in subsidiaries	24	–	–	3,767,962,237	3,232,076,136	3,388,401,971
Equity-accounted investee	25	1,292,006	1,384,362	1,292,007	1,351,459	1,351,459
Other investments, including derivatives	26	1,004,330,898	1,070,904,297	647,177,898	727,179,297	727,179,297
Deferred tax assets	27	42,611,982	65,787,835	42,536,150	32,017,938	32,017,938
Goodwill on acquisition	24.4	1,576,648,378	–	–	–	–
Non-current assets		12,168,596,587	10,424,261,828	4,499,591,104	4,038,035,687	4,194,307,733
Biological assets	22	52,688,000	41,797,000	–	–	–
Inventories	28	5,145,162,996	3,177,211,186	–	–	–
Other investments, including derivatives	26	335,364,187	234,792,226	222,469,740	234,792,226	234,792,226
Current tax assets	29	29,585,672	9,893,358	14,318,672	9,809,784	3,158,748
Trade and other receivables	30	4,848,691,358	4,295,571,105	70,396,643	107,974,290	95,768,884
Amounts due from related parties	31	475,000	78,704,645	223,215,489	240,777,370	240,777,370
Cash and cash equivalents	32	2,520,552,239	4,572,232,065	1,281,865,256	3,879,071,288	2,238,482,618
Assets held for sale	42	1,781,889,421	–	–	–	–
Current assets		14,714,408,873	12,410,201,585	1,812,265,800	4,472,424,958	2,812,979,846
Total assets		26,883,005,460	22,834,463,413	6,311,856,904	8,510,460,645	7,007,287,579
Equity
Stated capital	33	1,641,715,247	1,641,715,247	1,641,715,247	1,641,715,247	1,641,715,247
Reserves	33	339,686,250	358,317,875	331,382,645	351,106,481	351,106,481
Retained earnings		8,551,561,683	6,414,107,233	3,141,800,110	3,398,264,201	1,916,338,466
Equity attributable to owners of the company		10,532,963,180	8,414,140,355	5,114,898,002	5,391,085,929	3,909,160,194
Non-controlling interests	33	4,808,856,243	4,035,566,113	–	–	–
Total equity		15,341,819,423	12,449,706,468	5,114,898,002	5,391,085,929	3,909,160,194
Liabilities
Loans and borrowings	34	1,968,834,746	2,311,846,644	–	939,000,820	939,000,820
Employee benefits	35	713,774,478	559,458,926	103,878,290	96,712,325	96,712,325
Contingent consideration	24.4.b.1	78,026,414	–	–	–	–
Deferred income and capital grants	36	91,996,000	142,550,000	–	–	–
Deferred tax liabilities	27	632,277,792	533,907,752	–	–	–
Non-current liabilities		3,484,909,430	3,547,763,322	103,878,290	1,035,713,145	1,035,713,145
Trade and other payables	37	3,775,377,119	2,450,696,610	24,974,054	21,817,698	20,989,334
Amounts due to related parties	38	12,802,099	27,513,242	–	2,875,808	2,651,108
Current tax liabilities	29	354,693,979	223,047,621	60,099,084	19,956,847	–
Loans and borrowings	34	2,184,694,049	2,971,899,695	1,006,808,533	1,986,273,778	1,986,273,778
Bank overdraft	32	872,203,730	1,163,836,455	1,198,941	52,737,440	52,500,020
Liabilities directly associated with assets held for sale	42	856,505,631	–	–	–	–
Current liabilities		8,056,276,607	6,836,993,623	1,093,080,612	2,083,661,571	2,062,414,240
Total liabilities		11,541,186,037	10,384,756,945	1,196,958,902	3,119,374,716	3,098,127,385
Total equity and liabilities		26,883,005,460	22,834,463,413	6,311,856,904	8,510,460,645	7,007,287,579
Net assets per share***		23.48	56.26	11.40	36.05	26.14

* The balances presented represent the restated balances for the year ended 31 March 2020 to reflect the adjustments made due to the amalgamation between the Company and Estate Management Services (Pvt) Ltd. Refer Note 46 for details.
** The balances presented represent the balances as reported in the Audited Financial Statements for the year ended 31 March 2020. These balances are presented for the purposes of comparability.
*** Number of shares increased from 149,554,103 to 448,662,309 shares due to share split.

Figures in brackets indicate deductions.

The Accounting Policies and Notes are an integral part of these 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,

Amal Cabraal
Vice-Chairman/Director

V Govindasamy
Group Managing Director

 

25 May 2021
Colombo