2010-11 - Grasim

ULTRATECH CEMENT LANKA (PVT) LIMITED
SLR
2011 2010
INR SLR INR
A Reconciliation of accounting profit to income tax expense.
Accounting profit before tax 482,000,1
0,137
198,539,245
388,649,711 142,363,374
Non business income (Net) (38,377,087)
,087) (15,305,51
5,305,514)
(21,358,911) (8,924,648)
Disallowable expenses 185,81
85,816,945
74,1
4,107
07,342
76,273,952 31,754,980
Allowable expenses (8,191,921)
(3,267,094)
,094) (6,708,064) (2,788,805)
621,248,074 254,073,978 436,856,688 162,404,900
Non business income -
Interest Income 38,153,913 15,216,508 21,358,911 8,879,735
Notional tax credit 3,240,710 1,292,457
Tax loss brought forward from
previous years utilised - (71,633,133) (29,780,696)
662,642,697 267,668,035
386,582,466 152,259,234
Tax liability @ 35% 231,924,944 93,683,812 135,303,863 53,290,732
Social Responsibility
Levy @ 1.5% 3,478,874 1,405,257 2,029,558 799,361
235,403,818 95,089,069 137,333,421 54,090,093
14 EARNINGS PER SHARE
The calculation of basic earnings per ordinary share is based on the profit attributable to ordinary shareholders
and the weighted average number of ordinary shares in issue during the year.
Net profit attributable to ordinary
shareholders (Rs.) 276,633,028
115,583,21
5,583,210 235,037,765 81,861,827
Number of ordinary
shares in issue 50,000,0
0,000 50,000,0
0,000 50,000,000 50,000,000
Basic earnings per
ordinary share (Rs.) 5.53 2.31 4.70 1.64
There were no potentially dilutive ordinary shares issued at any time during the year
15.
OPERATING LEASE PREPAID
Cost 38,946,767
67 15,732,1
5,732,166
38,946,767 15,339,560
As at the beinning of the year 13,849,899
5,594,531 12,627,057 4,973,288
Amortisation for the year 1,222,851 493,959 1,222,842 481,628
Balance at the end of the year 15,072,750 6,088,490 13,849,899 5,454,916
Carrying amount 23,874,0
4,017 9,643,676 25,096,868 9,884,644
Cost of the prepaid operating lease represents the advance payments made on operating leases for the
“right to use” the following property.
Leasehold property located at 81/11/1, New Nuge Road, Peliyagoda has been sub leased for a period of 30
years from East West Properties Limited who have taken on lease the said premises for a period of 99
years from the Urban Development Authority.
The sub-lease rentals and related expenses are amortized on a yearly basis as per the schedule of the
agreement. Leasehold land is amortized over the lease period of 30 years.
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