2010-11 - Grasim
2010-11 - Grasim
2010-11 - Grasim
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ULTRATECH CEMENT LANKA (PVT) LIMITED<br />
DIRECTOR<br />
ORS’ S’ REPORT<br />
The Directors of UltraTech Cement Lanka (Pvt) Limited<br />
have pleasure in presenting the Annual Report of the<br />
Company for the year ended 31 st March, 20<strong>11</strong>.<br />
PRINCIPAL<br />
ACTIVI<br />
CTIVITIES<br />
TIES<br />
The principal activity of the Company is carrying on<br />
business of importers, exporters, distributors,<br />
warehousemen, wholesalers, retailers and dealers of<br />
cement and to establish storage terminal and other<br />
facilities for the bagging and distribution of bulk cement.<br />
PROFI<br />
OFIT & LOSS ACCO<br />
CCOUNT<br />
Year ended<br />
Year ended<br />
31.03.20<br />
.03.20<strong>11</strong> 31.03.<strong>2010</strong><br />
SLR (Millions) SLR (Millions)<br />
Turnover 6,238 6,171<br />
Cost of Sales (5,682) (5,647)<br />
Gross Profit 556 524<br />
Other Operating Income 69 16<br />
Administration expenses (61) (56)<br />
Distribution expenses (126)<br />
(133)<br />
Profit from Operation 438 351<br />
Finance Income – Net 44 38<br />
Profit before Taxation 482 389<br />
Taxation (205) (154)<br />
Net Profit for the year<br />
277 235<br />
Earnings per Share 5.53 4.70<br />
ACCO<br />
CCOUNTING POLICIES<br />
The accounting policies are consistent with those used<br />
in the previous year and no significant changes.<br />
DIVIDEND<br />
The dividend recommended by the Board at a meeting<br />
of the Board of Directors will be declared at the Annual<br />
General Meeting.<br />
DIRECTOR<br />
ORS<br />
During the year under review, there have been no<br />
changes in the Directorate of the Company.<br />
DIRECTOR<br />
ORS INTEREST T IN CONTRACTS<br />
CTS<br />
The Directors of the company have no direct or indirect<br />
interest in any contract or proposed contract of the<br />
Company, except those specified in Note 26 to the<br />
financial statements.<br />
AUDI<br />
UDITOR<br />
ORS<br />
Messrs KPMG Ford Rhodes Thornton & Co., Auditors<br />
of the Company retire and being eligible, are<br />
recommended by the Board of Directors for reappointment<br />
at the Annual General Meeting of the<br />
Company.<br />
Remuneration of the Auditors for the year ended<br />
31 st March, 20<strong>11</strong> is shown in Note 12 to the Financial<br />
Statements.<br />
4 th May, 20<strong>11</strong><br />
Colombo<br />
By Order of the Board<br />
Sgd. (Authorized Signatory)<br />
SPA Corporate Services (Pvt) Limited<br />
Secretaries for UltraTec<br />
ech Cement Lanka<br />
(Pvt) limited.<br />
<strong>11</strong>3 ⊳
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