SUNSHINE HOLDINGS PLC
Annual Report 2020/21
| Group | Company | |||||
| For the year ended 31 March | Note | 2020 Rs. |
Rs. |
2020 Restated* Rs. |
2020 Previously reported** Rs. |
|
| Revenue | 10 | 24,339,446,156 | 20,874,637,494 | 850,202,179 | 655,897,433 | 497,330,868 |
| Cost of sales | (16,601,729,049) | (14,696,653,353) | – | – | – | |
| Gross profit | 7,737,717,107 | 6,177,984,141 | 850,202,179 | 655,897,433 | 497,330,868 | |
| Other income | 11 | 291,436,825 | 408,845,415 | 341,800,630 | 314,317,165 | 314,317,165 |
| Selling and distribution expenses | (2,182,677,904) | (2,001,552,253) | – | – | – | |
| Administrative expenses | (2,177,851,096) | (2,016,956,500) | (449,704,631) | (463,493,381) | (427,259,581) | |
| Impairment of asset held for sale | 42 | (143,246,439) | – | – | – | – |
| Impairment of investment in equity-accounted investee | 24/ 25 | – | – | (59,452) | (7,648,541) | (7,648,541) |
| Gain on disposal of subsidiaries | 24.3.1 | – | 340,726,887 | 2,032,745,933 | 1,477,356,546 | – |
| Gain on disposal of subsidiary shares | 24.4 | – | – | 260,563,654 | – | – |
| Operating profit | 12 | 3,525,378,493 | 2,909,047,690 | 3,035,548,313 | 1,976,429,222 | 376,739,911 |
| Finance income | 13 | 252,646,432 | 264,490,490 | 156,225,875 | 195,468,866 | 120,047,566 |
| Finance costs | 13 | (468,793,779) | (608,747,322) | (170,998,805) | (184,130,732) | (183,975,056) |
| Net finance costs | (216,147,347) | (344,256,832) | (14,772,930) | 11,338,134 | (63,927,490) | |
| Share of loss of equity-accounted investees, net of tax | 25 | (92,356) | (1,413,934) | – | – | – |
| Profit before tax | 3,309,138,790 | 2,563,376,924 | 3,020,775,383 | 1,987,767,356 | 312,812,421 | |
| Income tax expenses | 14 | (771,610,789) | (730,739,358) | (117,053,693) | (12,231,530) | 7,725,317 |
| Profit for the year | 2,537,528,001 | 1,832,637,566 | 2,903,721,690 | 1,975,535,826 | 320,537,738 | |
| Other comprehensive income | ||||||
| Items that will not be reclassified to profit or loss | ||||||
| Remeasurement of retirement benefit liability | (25,750,348) | (7,926,899) | 6,049,909 | 2,266,758 | 2,266,758 | |
| Equity investments at FVOCI – net change in fair value | (32,088,698) | (40,343,414) | (32,088,698) | (40,343,415) | (40,343,415) | |
| Related tax | 18,776,503 | 11,731,076 | 10,912,884 | 10,661,464 | 10,661,464 | |
| (39,062,543) | (36,539,237) | (15,125,905) | (27,415,193) | (27,415,193) | ||
| Items that are or may be reclassified subsequently to profit or loss | ||||||
| Foreign operations – foreign currency translation differences | 1,092,211 | 1,183,969 | – | – | – | |
| 1,092,211 | 1,183,969 | – | – | – | ||
| Other comprehensive income for the year, net of tax | (37,970,332) | (35,355,268) | (15,125,905) | (27,415,193) | (27,415,193) | |
| Total comprehensive income for the year | 2,499,557,669 | 1,797,282,298 | 2,888,595,785 | 1,948,120,633 | 293,122,545 | |
| Profit attributable to: | ||||||
| Owners of the Company | 1,522,207,103 | 1,147,045,943 | 2,903,721,690 | 1,975,535,826 | 320,537,738 | |
| Non-controlling interests | 1,015,320,898 | 685,591,623 | – | – | – | |
| 2,537,528,001 | 1,832,637,566 | 2,903,721,690 | 1,975,535,826 | 320,537,738 | ||
| Total comprehensive income attributable to: | ||||||
| Owners of the Company | 1,478,363,138 | 1,114,929,100 | 2,888,595,785 | 1,948,120,633 | 293,122,545 | |
| Non-controlling interests | 1,021,194,531 | 682,353,198 | – | – | – | |
| Total comprehensive income for the year | 2,499,557,669 | 1,797,282,298 | 2,888,595,785 | 1,948,120,633 | 293,122,545 | |
| Earnings per share | ||||||
| Basic earnings per share (Rs.) | 16 | 3.39 | 2.56 | 6.47 | 4.40 | 0.71 |
| Diluted earnings per share (Rs.) | 16 | 3.39 | 2.56 | 6.47 | 4.40 | 0.71 |
* 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.
Figures in brackets indicate deductions.
The Accounting Policies and Notes are an integral part of these Financial Statements.