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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Interim Financial Statements 31-03-2013 - SOY

Interim Financial Statements 31-03-2013 - SOY

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Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
http://www.cse.lk/cmt/upload_report_file/488_1370003745337.pdf

Gainer

Gainer
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Wow profits boom..... alien cheers

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
See the PBT comparisons

ccsentha


Vice President - Equity Analytics
Vice President - Equity Analytics
there has been a tax revision, that is why such big profits....

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Gaja wrote:See the PBT comparisons



Very Happy e moko ban e...... Rolling Eyes

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
@KDDND wrote:
@Gaja wrote:See the PBT comparisons



Very Happy e moko ban e...... Rolling Eyes
@Gaja
can you please explain what is PBT comparison ?

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@cseguide wrote:
@KDDND wrote:
@Gaja wrote:See the PBT comparisons



Very Happy e moko ban e...... Rolling Eyes
@Gaja
can you please explain what is PBT comparison ?

Hmm.... letting Gaja to go head.....
Let me say what I understood is....

PBT mean = Profit Before Tax
............................................2013...............2012..............difference

Profit before tax...............65,976,896......65,037,744.................939,152

Taxation.....................27,159,227......(18,231,506)........45,390,733

Profit for the year.............93,136,123.......46,806,238...........46,329,886

So to increase profit from 46million - 2012 to 93million in 2013... .... taxation played major role?

hope I am right! Smile

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Yes Tax played a major part in deciding the Bottom Line here, i will be happy if it is due to the actual tax reduction ( i mean if they can save on cash flow ), yes it will be a good point to consider.

Saying above these are the points make me think that way and put the comment.

Company has capitalized 154.6 Million from C.W.I.P so this might bring some Capital or Depreciation Allowance to for the year. However the date of capitalization is not clear, so i can see the portion of the accounting deprecation for the year, but for the next year it will be for the whole year

About the Taxation this is what the Quarterly report says

"Income Tax
During the year the Company became eligible for Investment Allowances under section 34 of the Inland Revenue (Amendment) Act. No. 22of 2011
which eliminated the current year tax liability of the Company. The Company is further entitled to relief during the next 3 years which has been recognised as a deferred tax asset of Rs. 30,708,206/- based on best estimates. The impact of these events to the income statement has been an Income Tax inflow of Rs.27,159,227/- for the year and Rs. 38,806,484/- for the quarter"

I Wel come more arguments on this topic

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
@KDDND wrote:
@cseguide wrote:
@KDDND wrote:
@Gaja wrote:See the PBT comparisons



Very Happy e moko ban e...... Rolling Eyes
@Gaja
can you please explain what is PBT comparison ?

Hmm.... letting Gaja to go head.....
Let me say what I understood is....

PBT mean = Profit Before Tax
............................................2013...............2012..............difference

Profit before tax...............65,976,896......65,037,744.................939,152

Taxation.....................27,159,227......(18,231,506)........45,390,733

Profit for the year.............93,136,123.......46,806,238...........46,329,886

So to increase profit from 46million - 2012 to 93million in 2013... .... taxation played major role?

hope I am right! Smile
thanks KDDND. that was well explained. and thanks Gaja
@Gaja According to your explanation this tax reduction is for only this year or it is for next 3 year as well. Please explain

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
Well i will say next year am not expecting huge tax income, due to the full year depreciation effect, and i feel in the next 3 years they are entitle for the depreciation allowance, but am expecting some income tax charge from deferred tax asset, but i may be wrong at all!

What i mean in my 1st comment is Profit before tax almost remain same, and am not sure how the investment made on the PPE will bring the future inputs to the company, how will the company going to mitigate the increase in power and increase on cost of production and what will be the competitors action, if am not mistaken another listed company also having considerable market share in the same business.

Open for further discussions!

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
@Gaja wrote:Well i will say next year am not expecting huge tax income, due to the full year depreciation effect, and i feel in the next 3 years they are entitle for the depreciation allowance, but am expecting some income tax charge from deferred tax asset, but i may be wrong at all!

What i mean in my 1st comment is Profit before tax almost remain same, and am not sure how the investment made on the PPE will bring the future inputs to the company, how will the company going to mitigate the increase in power and increase on cost of production and what will be the competitors action, if am not mistaken another listed company also having considerable market share in the same business.

Open for further discussions!
@Gaja can't they expand their business in future by doing all those things. Because the managed company is CBL. look at how they captured the biscuit and snacks market. we want to keep eye on this share

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