SUNSHINE HOLDINGS PLC
Annual Report 2018/19
Preamble
Highlights of the year
| Group | Company | |||
| 2019 Rs. |
2018 Rs. |
2019 Rs. |
2018 Rs. |
|
| Results for the year ended 31 March | ||||
| Revenue | 22,641,987,898 | 21,181,210,416 | 514,907,500 | 340,599,522 |
| Gross profit | 5,699,290,610 | 5,385,359,251 | 514,907,500 | 340,599,522 |
| 25.17 | 25.43 | N.A. | N.A. | |
| 2,218,330,819 | 2,580,028,235 | 303,936,768 | 122,912,751 | |
| Net finance cost | (331,592,899) | (156,173,226) | (63,300,710) | 25,645,590 |
| Profit before tax | 1,881,576,601 | 2,422,814,623 | 240,636,058 | 148,558,341 |
| Income tax | (735,942,442) | (618,292,027) | 19,250,174 | – |
| 1,145,634,159 | 1,804,522,596 | 259,886,232 | 148,558,341 | |
| 5.06 | 8.52 | 50.47 | 43.62 | |
| Other comprehensive income (Net of tax) | (224,826,836) | 68,902,741 | 14,448,901 | 35,762,731 |
| Discontinued operations | – | (210,824,830) | – | – |
| 920,807,323 | 1,662,600,507 | 274,335,133 | 184,321,072 | |
| 4.07 | 7.85 | N.M. | N.M. | |
| Profit for equity holders – Continued operations | 646,984,059 | 829,362,966 | 259,886,232 | 148,558,341 |
| Profit for equity holders – Discontinued operations | – | (210,824,830) | – | – |
| As at 31 March | ||||
| Stated capital | 1,641,715,247 | 798,504,357 | 1,641,715,247 | 798,504,357 |
| Shareholders’ funds | 5,874,468,642 | 5,576,420,179 | 2,161,265,030 | 2,131,368,284 |
| Non-controlling interest | 3,476,651,011 | 3,427,198,621 | – | – |
| 10,992,834,900 | 9,802,123,157 | 3,802,980,277 | 2,929,872,641 | |
| Long-term liabilities | ||||
| – Debt | 3,299,921,582 | 3,572,013,986 | 1,235,793,320 | 1,143,330,000 |
| – Others | 2,332,344,942 | 1,890,662,206 | 87,068,694 | 78,399,096 |
| Current liabilities | ||||
| – Debt | 1,939,810,346 | 1,736,627,424 | 429,114,709 | 256,670,000 |
| – Others | 3,495,469,259 | 3,292,784,534 | 26,821,780 | 25,125,655 |
| 22,060,381,028 | 20,294,211,307 | 5,581,778,780 | 4,433,397,391 | |
| Non-current assets | 12,234,498,273 | 11,588,301,366 | 4,004,385,219 | 3,673,605,436 |
| Current assets | ||||
| – Cash and cash equivalents | 1,843,593,506 | 1,374,218,432 | 1,042,331,375 | 526,335,611 |
| – Others | 7,982,289,249 | 7,331,691,510 | 535,062,186 | 233,456,344 |
| 22,060,381,028 | 20,294,211,307 | 5,581,778,780 | 4,433,397,391 |
| Group | Company | |||
| 2019 Rs. |
2018 Rs. |
2019 Rs. |
2018 Rs. |
|
| For the year ended 31 March | ||||
| Cash generated from operations | 2,782,438,695 | 2,777,513,772 | 328,631,348 | 237,664,735 |
| Interest paid | (506,571,577) | (378,837,123) | (143,835,444) | (41,781,020) |
| Income tax paid | (462,423,561) | (546,195,415) | (4,365,938) | – |
| Gratuity paid | (152,320,973) | (146,131,600) | (8,090,760) | (170,850) |
| 1,661,122,585 | 1,706,349,635 | 172,339,206 | 195,712,865 | |
| Capital expenditure | (857,805,894) | (1,482,035,528) | (18,288,951) | (1,861,384) |
| (1,138,388,623) | (3,407,092,747) | (280,228,443) | (1,632,157,420) | |
| Dividend paid | ||||
| – Owner of parent | (136,527,501) | (168,932,026) | (136,527,499) | (168,932,026) |
| – Non-controlling shareholders | (366,484,682) | (193,990,990) | – | – |
| (44,651,298) | 982,355,156 | 623,885,006 | 1,231,067,975 | |
| 567,385,260 | (718,387,956) | 515,995,769 | (205,376,580) | |
| EPS | 4.43 | 6.08 | 1.78 | 1.09 |
| Net assets | 50.26 | 46.71 | 25.43 | 21.47 |
| Market value | – | – | 47.00 | 56.10 |
| Proposed DPS | 1.25 | 1.50 | 1.25 | 1.50 |
| Debt: Equity ratio (%) | 47.66 | 54.16 | 43.78 | 47.78 |
| ROE (%) | 10.42 | 18.41 | 6.83 | 5.07 |
| ROCE (%) | 13.67 | 17.07 | 5.56 | 2.84 |
| Interest cover (times) | 3.98 | 6.81 | 1.71 | 2.94 |
| Liquid assets ratio (times) | 1.81 | 0.83 | 0.89 | 0.51 |
| P/E ratio (times) | 10.60 | 9.23 | N.A. | N.A. |
| Market capitalisation (Rs.) | 7,029,042,841 | 7,657,216,908 | N.A. | N.A. |
| Enterprise value (Rs.) | 10,425,181,262 | 11,591,639,886 | N.A. | N.A. |