DIPPED PRODUCTS PLC / ANNUAL REPORT 2008—2009

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Balance Sheets As at March 31 Notes Consolidated 2009 Rs’000 2008 Rs’000 Company 2009 Rs’000 2008 Rs’000 Assets Non-Current assets Property, plant & equipment 9 4,826,977 4,402,997 299,189 311,140 Intangible assets 10 15,684 15,684 - - Investments in subsidiaries 11 - - 793,688 843,688 Investments in associate 11 90,297 98,609 - - Other long term investments 11 197,010 197,010 194,457 194,457 Deferred tax asset 12 21,592 11,933 21,592 11,933 5,151,560 4,726,233 1,308,926 1,361,218 Current assets Inventories 13 1,925,917 1,900,460 307,401 371,663 Trade and other receivables 14 3,034,902 2,858,358 357,418 344,657 Amount due from subsidiaries 15 - - 953,725 953,920 Amount due from associate 6,000 - - - Short term deposits 89,600 20,000 - - Cash and cash equivalents 218,654 93,172 42,919 33,845 5,275,073 4,871,990 1,661,463 1,704,085 Total assets 10,426,633 9,598,223 2,970,389 3,065,303 Equity and Liabilities Equity attributable to equity holders of the company Stated capital 16 598,615 598,615 598,615 598,615 Capital reserves 174,223 172,018 99,882 99,882 Revenue reserves 2,306,312 2,039,771 1,086,719 872,256 3,079,150 2,810,404 1,785,216 1,570,753 Minority interest 785,912 710,504 - - Total equity 3,865,062 3,520,908 1,785,216 1,570,753 Liabilities Non current liabilities Deferred tax liability 12 140,385 133,120 - - Retirement benefit obligations 17 811,366 741,653 162,693 144,054 Agents’ Indemnity Fund 18 35,379 33,819 - - Interest bearing borrowings 19 1,219,073 1,360,252 - - Deferred income 20 346,191 246,277 - - 2,552,394 2,515,121 162,693 144,054 Current liabilities Trade and other payables 21 1,275,366 1,395,444 156,649 135,855 Interest bearing borrowings due within one year 22 2,716,948 2,153,414 473,189 513,280 Amount due to subsidiaries 23 - - 387,626 692,723 Amount due to Hayleys <strong>PLC</strong> 8,480 11,641 4,990 8,630 Income tax payable 8,383 1,695 26 8 4,009,177 3,562,194 1,022,480 1,350,496 Total liabilities 6,561,571 6,077,315 1,185,173 1,494,550 Total equity and liabilities 10,426,633 9,598,223 2,970,389 3,065,303 The Accounting Policies on pages 45 to 53 and Notes on pages 54 to 69 form an integral part of these Financial Statements. It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act no.7 of 2007. N A R R S Nanayakkara General Manager Finance The Directors are responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board N G Wickremeratne Chairman May 12, 2009 J A G Anandarajah Managing Director D I P P E D P R O D U C T S P L C A N N U A L R E P O R T 2 0 0 8 – 2 0 0 9 41
Statements of Changes in Equity Consolidated For the year ended March 31, 2009 Attributable to equity holders of the Company Minority Interest Stated Capital Reserves Revenue Reserves Total Capital Capital Reserve Reserve on Legal General Retained Exchange Redemption on Scrip Revaluation Reserve Reserve Earnings Fluctuation Reserve Issue of Assets Reserve Fund Total Equity Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Balance as at April 1, 2007 598,615 180 25,384 139,760 4,797 504,167 1,296,172 76,654 2,645,729 593,048 3,238,777 Exchange difference on translation of overseas entities - - - - - - - 32,999 32,999 19,340 52,339 Issue of shares - - - - - - - - - 2,940 2,940 Net gains/(losses) not recognised in the income statement - - - - - - - 32,999 32,999 22,280 55,279 Dividends - - - - - - (239,446) - (239,446) (49,044) (288,490) Profit attributable for the year - - - - - - 371,122 - 371,122 144,220 515,342 Transfer to legal reserve - - - - 1,897 - (1,897) - - - - Transfer to general reserve - - - - - 121,006 (121,006) - - - - Balance as at March 31, 2008 598,615 180 25,384 139,760 6,694 625,173 1,304,945 109,653 2,810,404 710,504 3,520,908 Issue of shares - - - - - - - - - 7,500 7,500 Adjustment of effective holding - - - - - - - - - 1,069 1,069 Exchange difference on translation of overseas entities - - - - - - - (4,332) (4,332) (1,984) (6,316) Net gains/(losses) not recognised in the income statement - - - - - - - (4,332) (4,332) 6,585 2,253 Dividends - - - - - - (89,792) - (89,792) (71,035) (160,827) Profit attributable for the year - - - - - - 362,870 - 362,870 139,858 502,728 Transfer to legal reserve - - - - 2,205 - (2,205) - - - - Balance as at March 31, 2009 598,615 180 25,384 139,760 8,899 625,173 1,575,818 105,321 3,079,150 785,912 3,865,062 Company Stated Capital Capital Reserves Revenue Reserves Total Equity Capital Redemption Reserve on Revaluation of Retained Earnings Reserve Fund Assets Rs’000 Rs’000 Rs’000 Rs’000 Rs’000 Balance as at April 1, 2007 598,615 180 99,702 899,108 1,597,605 Dividends - - - (239,446) (239,446) Profit attributable for the year - - - 212,594 212,594 Balance as at March 31, 2008 598,615 180 99,702 872,256 1,570,753 Dividends - - - (89,792) (89,792) Profit attributable for the year - - - 304,255 304,255 Balance as at March 31, 2009 598,615 180 99,702 1,086,719 1,785,216 a. Reserve on Scrip Issue represents reserves capitalised by subsidiaries in lieu of bonus issue of shares. b. Reserve on Revaluation of Assets relates to the revaluation of land. c. Legal reserve represents ICOGUANTI reserves capitalised as per Italian Accounting Standards (Civil Code no. 2430) The Accounting Policies on pages 45 to 53 and Notes on pages 54 to 69 form an integral part of these Financial Statements. 42 D I P P E D P R O D U C T S P L C A N N U A L R E P O R T 2 0 0 8 – 2 0 0 9
Page 1 and 2: DIPPED PRODUCTS PLC / ANNUAL REPORT
Page 3 and 4: For more details: visit : www.dpl-f
Page 5 and 6: Chairman’s Statement “Group tur
Page 7 and 8: INPUT MATERIALS AND IMPLEMENTS TO A
Page 9 and 10: Managing Director’s Review “The
Page 11 and 12: Managing Director’s Review “…
Page 13 and 14: Managing Director’s Review “KVP
Page 15 and 16: Managing Director’s Review “Our
Page 17 and 18: partnerships Our partnership with B
Page 19 and 20: technology 18 The high speed latex
Page 21 and 22: environment “Firstlight” cares
Page 23 and 24: IT TRAINING CENTRE INGESTRE ESTATE
Page 25 and 26: INPUT MATERIALS COMMUNITY CAPACITY
Page 27 and 28: Financial Calendar 2008/2009 Interi
Page 29 and 30: Annual Report of the Board Donation
Page 31 and 32: Annual Report of the Board Stock ma
Page 33 and 34: Corporate Governance Responsibiliti
Page 35 and 36: Corporate Governance Major transact
Page 37 and 38: Corporate Governance Level of compl
Page 39 and 40: Audit Committee Report Composition
Page 41: Income Statements For the year ende
Page 45 and 46: Cash Flow Statements For the year e
Page 47 and 48: Accounting Policies 3.1.2 Associate
Page 49 and 50: Accounting Policies commercially fe
Page 51 and 52: Accounting Policies 5.2. Agents’
Page 53 and 54: Accounting Policies 11.1.2. Permane
Page 55 and 56: Notes to the Financial Statements 1
Page 65 and 66: Notes to the Financial Statements Y
Page 67 and 68: Notes to the Financial Statements A
Page 71 and 72: Ten Year Financial Review Gross Div
Page 73 and 74: The Share 1. Stock exchange listing
Page 75 and 76: The Share History of dividend and s
Page 77 and 78: Notice of Meeting DIPPED PRODUCTS P
Page 79 and 80: Form of Proxy INSTRUCTIONS AS TO CO

DIPPED PRODUCTS PLC / ANNUAL REPORT 2008—2009

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