SUNSHINE HOLDINGS PLC

Annual Report 2021/22

Financial Reports

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

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.

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