Notes to the Financial Statements Contd.... - Colombo Stock Exchange

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Review of Operations Contd.... K E G A L L E P L A N T A T I O N S P L C 2 0 0 9 NSA The Company achieved an overall NSA of Rs. 237.25 for the year under review. In spite of the drastic slump in the rubber market the Company was able to restrict the drop in prices to only 3% over last season. This was possible due to timely intervention in changing product/grade mix to suit the Market. Investments Replanting of rubber was undertaken in an extent of 122 Ha during the year under review. Thus the Company has replanted an extent of 659 Ha; since the Company resumed Replanting in the year 2004. Subsidy due for Replanting from the Rubber Cess Fund has been claimed appropriately. Worker Welfare The Company continued to extend financial assistance of Rs. 1500/- per month to each student who qualified for University Education and Six Children of Workers’ from Ambadeniya, Parambe and Pallegama Estates benefited from this scheme. Estate/Village Integration Roads leading to Villages and worker houses, in an Extent of 5 kms on three estates were concreted with the grant of Rs 6.25 Mn allocated by the Plantation Development Project of the Ministry of Plantation Industries. Training & Development The Company continued the training of Workers, Staff and Executives on productivity, quality manufacture and agricultural practices, leadership, teamwork, career growth and development. The following programmes were undertaken during the period under review, with facilities extended by the Plantation Development Project. Colombo Auction Tea Price in Rupees per kilo 400 350 300 250 200 150 100 50 - Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar 2009 Rubber Exports 2008 16 Workers Tapping & other agricultural practices, Plucking & Other agricultural practices, Rubber Manufacture & Factory practices, Low Grown tea manufacture, Inter Cropping & Cultivation of export agriculture Institutional Development (Leadership Team & Attitude) Fire Protection, Bud Grafting, Personal Hygiene, Praguna “Pragathi” programme on productivity, effectiveness, efficiency, and team dynamics for Pluckers, leaf handlers and Trade Union Leaders. Staff Leadership, Teamwork & Tapping, Managing Occupational Stress, Skill Development, Energy Saving Methods, Fire Protection, Praguna “Pragathi” programme on productivity, effectiveness, efficiency, and team dynamics. Executives Personal Development, Career Growth, Leadership Development Competencies, and Forestry Management for SGS certification. Review of Operations - Tea Production A production of 2.5 Mn kg of made tea has been recorded for the season 2008/09 compared to 2.8 Mn kg last season. The deficit is mainly due to the reduction of Bought Leaf in Udapussellawa Estates during the months of October/November/December 2008 and January 2009 owing to the drop in tea prices at the auctions and non-movement of teas. Work on the estates too had to be curtailed due to poor trading conditions. Anticipated crop for February and March 2009 could not be harvested due to very dry weather conditions that prevailed. Agricultural conditions of Estates were maintained whilst cost effective measures were adopted during the crisis period(October 2008 to January 2009) when sales averages were low and teas were not moving at auctions. COP Overall increase in cost against last season is 5% which is mainly due to low bought leaf intakes,which had to be controlled due to the poor market conditions. Effective controls over all outgoings were adopted and managed to keep the COP at satisfactory level. NSA Tea factories have been developed and having the facility to cater for leafy market as well as small leaf manufacture. Hence, advantage could be taken depending on the market conditions. Gampaha Factory obtained 73 top prices Doteloya 22 top prices and Yataderiya 6 top prices, during the season under review.
Rupees Mn Statement of Value Added K E G A L L E P L A N T A T I O N S P L C 2 0 0 9 2009 2008 2007 2006 Turnover 1,928 2,163 1,819 1,514 Other Income 61 38 34 18 1,989 2,201 1,853 1,532 Cost of Meterials and Services (996) (926) (739) (740) Value Added 993 1,275 1,114 792 DISTRIBUTION OF VALUE ADDED To Employees as Remuneration 670 67% 725 57% 656 49% 493 62% To Government as Taxes and Lease Rent 31 3% 28 2% 34 3% 27 3% To Lenders of Capital as Interest 42 4% 28 2% 52 4% 29 4% To Shareholders as Dividend 50 5% 150 12% 62 5% 38 5% Retained in the Business as; Provision for Depreciation 73 7% 66 5% 61 5% 52 7% Profit Retained 127 13% 278 22% 249 34% 153 19% 993 100% 1,275 100% 1,114 100% 792 100% Value Added Per Employee - Rs. 127,865 155,507 138,334 94,432 Turnover Per Employee - Rs. 248,231 263,816 225,881 180,467 5% 4% 7% 3% 13% Distribution of Value Added 2009 68% Remuneration Government Lenders Dividend Depreciation Retained 17 5% 12% 22% 2% 2% Distribution of Value Added 2008 57% Remuneration Government Lenders Dividend Depreciation Retained
Page 1 and 2: K E G A L L E P L A N T A T I O N S
Page 3 and 4: Contents K E G A L L E P L A N T A
Page 5 and 6: Performance - Year Ended 31st March
Page 7 and 8: incurred on rubber. The balance amo
Page 9 and 10: TEA PRODUCTION Kg ‘000 K E G A L
Page 11 and 12: Mr. S S Poholiyadde Director Operat
Page 13 and 14: Key Data - Estates K E G A L L E P
Page 15 and 16: With the assistance of Gramasewaka
Page 17: Rubber Production The year under re
Page 21 and 22: Strategic Direction and Corporate S
Page 23 and 24: The Remuneration Committee of the P
Page 25 and 26: Business Risk Management Risk Manag
Page 27 and 28: Risk Management Contd.... K E G A L
Page 29 and 30: Financial Calender 2 0 0 8 / 2 0 0
Page 31 and 32: Donations Donations made during the
Page 33 and 34: In keeping with the provisions unde
Page 35 and 36: As at 31 March, 2009 Balance Sheet
Page 37 and 38: K E G A L L E P L A N T A T I O N S
Page 39 and 40: Year Ended 31 March 2009 K E G A L
Page 41 and 42: Sheet date, that have a significant
Page 43 and 44: assets with finite lives is recogni
Page 45 and 46: 2.3.10 Immature and Mature Plantati
Page 47 and 48: Impairment losses of continuing ope
Page 49 and 50: Year Ended 31st March 2009 3. LEASE
Page 51 and 52: Year Ended 31st March 2009 Notes to
Page 53 and 54: Year Ended 31st March 2009 K E G A
Page 55 and 56: Year Ended 31st March 2009 13. INTE
Page 57 and 58: Year Ended 31st March 2009 14. RETI
Page 61 and 62: Year Ended 31st March 2009 Tea Rubb
Page 65 and 66: Year Ended 31st March 2009 28. SECU
Page 69 and 70:
1. Stock Exchange Investor Informat
Page 71 and 72:
Definitions Capital Employed The su
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K E G A L L E P L A N T A T I O N S
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K E G A L L E P L A N T A T I O N S
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Notes to the Financial Statements Contd.... - Colombo Stock Exchange

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