FINANCIAL STATEMENTS

OF

EASTERN MERCHANTS PLC

FOR THE QUARTER ENDED

30TH JUNE 2022
 EASTERN MERCHANTS PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME - COMPANY

QUARTER ENDED
30TH JUNE
2022 2021 Change
Rs.'000 Rs.'000
(Un - Audited ) (Un - Audited ) %
Revenue 347,429 246,837 41
Cost of Sales (268,608) (219,368) 22

Gross Profit/ (Loss) 78,821 27,470 187

Other Operating Income 52,646 3,345 1,474

131,467 30,815 327

Administrative Expenses (15,249) (9,399) 62
Distribution Expenses (20,218) (6,351) 218

Profit/ (Loss) from Operating Activities 96,000 15,065 537

Finance Expenses (3,370) (9,419) (64)
Finance Income 18,780 - -

Profit/ (Loss) before Taxation 111,410 5,647 473

Taxation (4,507) - -
106,903 5,647 473

Profit/ (Loss) after Taxation 106,903 5,647 1,793

Profit/ (Loss) for the Period 106,903 5,647 1,793

-
Other Comprehensive Income
Revaluation of Land & Buildings - - -

Other Comprehensive Income/ (Loss) for the Period - - -

Total Comprehensive Income/ (Loss) for the Period 106,903 5,647 1,793

Earnings per Share - Basic 0.91 0.05

Note - All values are in Rs. '000, unless otherwise stated.

Figures in brackets indicate deductions.
The above figures are subject to audit.

1
 EASTERN MERCHANTS PLC
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

QUARTER ENDED
30TH JUNE
2022 2021 Change
Rs.'000 Rs.'000
(Un - Audited ) (Un - Audited ) %
Revenue 722,662 463,401 56
Cost of Sales (559,957) (391,508) 43

Gross Profit/ (Loss) 162,706 71,894 126

Other Operating Income 82,968 6,693 1,140

245,674 78,586 213

Administrative Expenses (104,363) (45,536) 129
Distribution Expenses (34,423) (15,422) 123

Profit/ (Loss) from Operations 106,888 17,629 506

Finance Expenses (16,306) (12,578) 30
Finance Income 18,781 166 11,184

Profit/ (Loss) before Taxation 109,363 5,217 1,996

Taxation (7,240) (1,200) -
102,123 4,017 1,996
Profit/(Loss) from Discontinued Operations (Net of Tax) - (10) -

Profit/ (Loss) after Taxation 102,123 4,007 2,449

Attributable to
Equity Holders of the Parent 102,603 4,492 2,184
Non Controlling Interest (481) (485) (1)

Profit/ (Loss) Attributable to the Group 102,123 4,007 2,449

Profit/ (Loss) for the Period 102,123 4,007 2,449

Other Comprehensive Income

Exchange Difference from Foreign Operation 37,845 396 9,449
Fair Value Change in Financial Assets at FVOCI 3,968 3,968 -

Other Comprehensive Income/ (Loss) for the Period 41,813 4,364 858

Total Comprehensive Income/ (Loss) for the Period 143,935 8,371 1,620

Attributable to
Equity Holders of the Parent 142,502 6,942
Non Controlling Interest 1,434 1,429

Profit/ (Loss) Attributable to the Group 143,935 8,371

Earnings per Share - Basic 0.87 0.04

Note - All values are in Rs. '000, unless otherwise stated.

Figures in brackets indicate deductions.
The above figures are subject to audit.

2
 EASTERN MERCHANTS PLC
STATEMENT OF FINANCIAL POSITION - COMPANY

As at
AS AT 30TH JUNE 2022 31/03/2022
Rs.'000 Rs.'000
(Un - Audited ) (Un - Audited )
ASSETS
NON-CURRENT ASSETS
Property, Plant & Equipment 278,478 269,880
Investments Property - -
Investments in Subsidiaries 628,224 628,224
Non Current Financial Assets 368,200 500,000
Deferred Tax 2,897 2,897
1,277,799 1,401,001
CURRENT ASSETS
Inventories 79,688 55,362
Trade & Other Receivables 125,735 134,203
Amounts due from Related Parties 101,029 5,128
Other Current Assets 12,718 22,265
Cash in hand & At Bank 101,837 105,767
421,008 322,725
TOTAL ASSETS 1,698,808 1,723,726
EQUITY & LIABILITIES
CAPITAL & RESERVES
Stated Capital 16,778 16,778
Revenue Reserves 1,326,048 1,219,143
Other Components of Equity 166,642 166,642
Total Equity 1,509,468 1,402,563

NON-CURRENT LIABILITIES
Retirement Benefit Obligations 17,630 17,630
Interest Bearing Borrowings - 2,812
17,630 20,442
CURRENT LIABILITIES
Trade & Other Payables 18,442 3,600
Interest Bearing Borrowings 8,128 79,414
Amounts due to Related Parties 93,098 158,293
Other Current Liabilities 18,890 23,215
Bank Overdraft 33,152 36,199
171,709 300,722
TOTAL EQUITY & LIABILITIES 1,698,808 1,723,726

Net Assets per Share - Rs. 12.85 11.94

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.
The Finance Director certifies that the financial statements have been prepared in compliance with the requirements
of the Companies Act No.7 of 2007.

…………………………… ……………………………
Mr. C.S.L. De Silva Mr. J.A.D. Sirinath
Managing Director Finance Director
19th August 2022

Note - All values are in Rs. '000, unless otherwise stated.

Figures in brackets indicate deductions.
The above figures are subject to audit.
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 EASTERN MERCHANTS PLC
CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at
AS AT 30TH JUNE 2022 31/03/2022
Rs.'000 Rs.'000
(Un - Audited ) (Un - Audited )
ASSETS
NON-CURRENT ASSETS
Property, Plant & Equipment 1,144,157 1,151,079
Intangible Assets 235 2,935
Non Current Financial Assets 399,945 532,312
1,544,337 1,686,325
CURRENT ASSETS
Inventories 494,240 530,097
Trade & Other Receivables 353,784 496,849
Other Current Assets 208,674 142,229
Cash in hand & At Bank 142,095 155,140
1,198,794 1,324,315
TOTAL ASSETS 2,743,132 3,010,640
EQUITY & LIABILITIES
CAPITAL & RESERVES
Stated Capital 16,576 16,576
Revenue Reserves 1,880,617 1,778,014
Other Components of Equity 290,359 250,461
2,187,553 2,045,051
Non Controlling Interest 23,954 22,521
Total Equity 2,211,508 2,067,571

NON-CURRENT LIABILITIES
Deferred Tax 65,627 65,627
Interest Bearing Borrowings 2,580 2,812
Retirement Benefit Obligations 31,754 30,773
99,961 99,212
CURRENT LIABILITIES
Trade & Other Payables 106,886 182,999
Interest Bearing Borrowings 148,578 500,400
Amount due to Related Party 2,550 2,550
Liability of Discontinued Operations 2,339 2,131
Other Current Liabilities 65,602 57,312
Bank Overdraft 105,708 98,466
431,663 843,858
TOTAL EQUITY & LIABILITIES 2,743,132 3,010,640

Net Assets per Share - Rs. 18.63 17.41

The Board of Directors is responsible for the preparation and presentation of these Financial Statements
The Finance Director certifies that the Financial Statements have been prepared in compliance with the
requirements of the Companies Act No.7 of 2007.

…………………………… ……………………………
Mr. C.S.L. De Silva Mr. J.A.D. Sirinath
Managing Director Finance Director
19th August 2022

Note - All values are in Rs. '000, unless otherwise stated.

Figures in brackets indicate deductions.
The above figures are subject to audit.

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 EASTERN MERCHANTS PLC
STATEMENT OF CHANGES IN EQUITY - COMPANY

Number of Stated Revaluation Retained Total

Shares Capital Reserves Earnings Equity
'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000
(Un - Audited )
Balance as at 01st April 2022 117,446 16,778 166,642 1,219,143 1,402,563

Profit/(Loss) for the Period - - - 106,903 106,903

Other Comprehensive Income - - - - -
Total Comprehensive Income - - - 106,903 106,903

Dividend Paid - - - - -

Balance as at 30th June 2022 117,446 16,778 166,642 1,326,048 1,509,466

Balance as at 01st April 2021 117,446 16,778 553,895 772,053 1,342,726

Profit/(Loss) for the Period - - - 5,647 5,647

Other Comprehensive Income - - - - -
Total Comprehensive Income - - - 5,647 5,647

Investment Property during the year - - - - -

Balance as at 30th June 2021 117,446 16,778 553,895 777,699 1,348,372

Note -
All values are in Rs. '000, unless otherwise stated.
Figures in brackets indicate deductions.
The above figures are subject to audit.

5
 EASTERN MERCHANTS PLC
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Attributable to Equity Holders of Parent

Fair Value Reserve Non-
Number of Stated Revaluation of Financial Assets Operation From Retained Controlling Total
Shares Capital Reserves at FVOCI Foreign Currency Earnings Total Interest Equity
'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000
(Un - Audited )
Balance as at 01st April 2022 117,446 16,576 230,449 (10,672) 30,683 1,778,014 2,045,051 22,521 2,067,571

Profit/(Loss) for the Period - - - - - 102,603 102,603 (481) 102,122

Other Comprehensive Income - - - 2,053 37,845 - 39,898 1,915 41,813
Total Comprehensive Income - - - 2,053 37,845 102,603 142,502 1,434 143,935

Dividend Paid - - - - - - - - -

Balance as at 30th June 2022 117,446 16,576 230,449 (8,618) 68,528 1,880,617 2,187,552 23,954 2,211,507

Balance as at 01st April 2021 117,446 16,576 725,695 (19,772) 3,544 1,110,656 1,836,699 (32,877) 1,803,822

Profit/(Loss) for the Period - - - - - 4,492 4,492 (485) 4,007

Other Comprehensive Income - - - 2,164 (162) - 2,003 2,018 4,020
Total Comprehensive Income - - - 2,164 (162) 4,492 6,494 1,533 8,028

Dividend Paid - - - - - - - - -
Effects on Acquisition of Shares ( Cross Holding) - - - - - - - - -

Balance as at 30th June 2021 117,446 16,576 725,695 (17,608) 3,382 1,115,148 1,843,193 (31,344) 1,811,850

Note - 117,446 16,576 230,449 (10,672) 30,683 1,930,434 2,197,471 22,521 2,219,994
All values are in Rs. '000, unless otherwise stated
Figures in brackets indicate deductions.
The above figures are subject to audit.
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 EASTERN MERCHANTS PLC
CASH FLOW STATEMENT

COMPANY
FOR THE QUARTER ENDED 30TH JUNE 2022 2021
Note Rs.'000 Rs.'000
(Un - Audited ) (Un - Audited )
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Profit/(Loss) before Working Capital Changes A 99,914 23,487

(Increase)/Decrease in Inventories (24,325) 35,555

(Increase)/Decrease in Debtors & Other Receivables 8,467 (2,769)
Increase/(Decrease) in Amounts due from/due to Related Parties (161,097) (6,555)
(Increase)/Decrease in Other Current Assets 9,547 1,300
Increase/(Decrease) in Other Current Liabilities (4,326) (16,763)
Increase/(Decrease) in Trade & Other Payables 14,841 (1,677)
Cash Generated from Operations (56,977) 32,578
Finance Costs Paid (3,370) (9,419)
Defined Benefit Plan Cost Paid - (118)
CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES (60,347) 23,041

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES

Acquisition of Property, Plant & Equipment (35,799) (156)
Proceeds from Sale of Property, Plant & Equipment - -
Proceeds from Non Current Financial Assets 131,800 -
Finance Income Excluding Dividend 18,780 -
CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITES 114,782 (156)

CASH FLOWS FROM/ (USED IN) FINANCING ACTIVITIES

Net Proceed/(Settlement) of Bank Loans (74,098) (10,999)
Interest Income 18,780 -
Net Cash flows from/(used in) Financing Activities (55,317) (10,999)

Net Increase/(Decrease) in Cash & Cash Equivalents (884) 11,886

Cash & Cash Equivalent at the beginning of the year 69,568 (64,700)

Cash & Cash Equivalent at the end of the year 68,684 (52,815)

Cash & Cash Equivalent

Cash in hand & At Bank 101,837 3,598
Bank Overdrafts (33,152) (56,411)

Cash and Cash Equivalents at the end of the year 68,684 (52,815)

Note A - Operating Profit/ (Loss) before Working Capital Changes

Profit/(Loss) before Tax from Continuing Operations 106,905 5,649
Profit/(Loss) before Tax from Discontinued Operations - -

Adjustments for,
Finance Income (18,780) -
Finance Costs 3,370 9,419
Depreciation 8,420 8,420
(Profit)/Loss on Sale of Property, Plant & Equipment - -
Provision for Gratuity - -

Operating Profit/ (Loss) before Working Capital Changes 99,914 23,487

Note - All values are in Rs. '000, unless otherwise stated.

Figures in brackets indicate deductions.
The above figures are subject to audit.
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 EASTERN MERCHANTS PLC
CASH FLOW STATEMENT

GROUP
FOR THE QUARTER ENDED 30TH JUNE 2022 2021
Note Rs.'000 Rs.'000
(Un - Audited ) (Un - Audited )
CASH FLOWS FROM OPERATING ACTIVITIES
Operating Profit/(Loss) before Working Capital Changes A 84,516 40,808

(Increase)/Decrease in Inventories 35,857 36,040

(Increase)/Decrease in Debtors & Other Receivables 143,065 107,353
(Increase)/Decrease in Other Current Assets (66,445) (24,996)
Increase/(Decrease) in Other Current Liabilities 8,290 4,090
Increase/(Decrease) in Trade & Other Payables (76,112) (42,460)
Cash Generated from Operations 129,171 120,836
Finance Costs Paid (16,306) (12,578)
Defined Benefit Plan Cost Paid - (118)
Income Tax Paid - -
CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES 112,865 108,140

CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES

Acquisition of Property, Plant & Equipment (35,799) (156)
Acquisition of Intangible Assets - -
Proceeds from Sale of Property, Plant & Equipment - -
Proceeds from Non Current Financial Assets 132,367 -
Finance Income Excluding Dividend 18,781 166
CASH FLOWS FROM/ (USED IN) INVESTING ACTIVITES 115,349 10

CASH FLOWS FROM/ (USED IN) FINANCING ACTIVITIES

Net Proceed/(Settlement) of Bank Loans (248,501) (30,596)
Interest Income - -
Net Cash flows from/(used in) Financing Activities (248,501) (30,596)

Net Increase/(Decrease) in Cash & Cash Equivalents (20,286) 77,554

Cash & Cash Equivalent at the beginning of the year 56,673 (76,534)

Cash & Cash Equivalent at the end of the year 36,387 1,021

Cash & Cash Equivalent

Cash in hand & At Bank 142,095 97,918
Bank Overdrafts (105,708) (96,897)

Cash and Cash Equivalents at the end of the year 36,387 1,021

Note A - Operating Profit/ (Loss) before Working Capital Changes

Profit/(Loss) before Tax from Continuing Operations 102,123 5,217
Profit/(Loss) before Tax from Discontinued Operations - (10)

Adjustments for,
Finance Income including Dividend Income (18,781) (166)
Finance Costs 16,306 12,578
Depreciation 21,681 21,681
Amortization 258 1,062
(Profit)/Loss on Sale of Property, Plant & Equipment - -
(Gain) /Loss on Assets of Discontinued Operations (208) (208)
(Gain)/ Loss on Currency translation of foreign operations (37,845) (396)
Provision for Gratuity 981 1,050

Operating Profit/ (Loss) before Working Capital Changes 84,516 40,808

Note - All values are in Rs. '000, unless otherwise stated.

Figures in brackets indicate deductions.
The above figures are subject to audit.
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 EASTERN MERCHANTS PLC
INTERIM CONDENSED FINANCIAL STATEMENTS

BUSINESS SEGMENTS
The following tables present revenue, Profit information and segment assets regarding the Group’s Operating Segments.

Export of Traditional &

Non-Traditional Products Other Group Total
FOR THE QUARTER ENDED 30TH JUNE 2022 2021 2022 2021 2022 2021
Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000
(Un - Audited )
Total Sales 742,237 389,574 - - 742,237 389,574
Other Income 82,868 2,545 100 - 82,968 2,545
Total Revenue 825,104 392,119 100 663 825,205 392,119
Inter Group Adjustment (19,575) (8,766)
Segment Revenue 805,630 383,353

Segment Results 107,880 24,561 (992) (613) 106,888 23,947

Inter Group Adjustment - -
Finance Expenses (16,306) (14,155)
Finance Income 18,781 117
Share of Results of Equity Accounted Investees - -
Fair Value Change of Investment Property - -
Profit before Taxation - - - - 109,363 9,909
Tax Provision - - - - (7,240) -
Profit/ (Loss) from Discontinued Operation - - - - - -
Other Comprehensive Income - - - - 41,813 4,020
Profit /(Loss) for the year 143,935 13,930

Attributable To
Equity Holders of the Company - - - - 142,502 12,208
Minority Interest - - - - 1,434 1,721
Profit /(Loss) for the year 143,935 13,930
Assets
Segment Assets 2,787,668 2,507,385 20,796 21,898 2,808,464 2,529,283
Other Investments 728,224 628,060 31,745 21,346 759,969 649,406

Total Assets 3,515,892 3,211,467 52,541 41,622 3,568,433 3,178,690

Inter Group Adjustment (825,301) (766,194)

Total Assets 2,743,132 2,412,496

Liabilities
Segment Liabilities 481,378 299,444 1,334 968 482,712 300,412
Interest Bearing Borrowings 151,158 378,119 - - 151,158 378,119
Deferred Tax Liabilities 65,734 39,413 (107) (232) 65,627 39,182
Retirement Benefit Obligations 31,754 16,954 - - 31,754 16,954

Total Liabilities 730,024 735,257 1,227 819 731,251 734,667

Inter Group Adjustment (199,627) (139,924)

Net Liabilities 531,624 594,744

9
 EASTERN MERCHANTS PLC
NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

1 CORPORATE INFORMATION

1.1 Company
Eastern Merchants PLC (the Company) is a Public Limited Liability Company incorporated and domiciled in
Sri Lanka and listed on the Colombo Stock Exchange. The registered office and the principal place of the
Business of the Company are located at 240, Torrington Avenue, Colombo 07.

1.2 Subsidiaries
Subsidiaries are those enterprises controlled by the parent. Control exists when the parent holds more
than 50% of the voting rights or otherwise has a controlling interest. The following Companies have
been consolidated as subsidiaries

The percentage holdings of the other Companies consolidated are given bellow.

% Holding

Eamel Exports (Pvt) Ltd. 51.75%

Asia Brush (Pvt) Ltd. - Discontinued 53.12%
Asian Woodware (Pvt) Ltd. - Discontinued 57.68%
Spice Lane (Pvt) Ltd. 100.00%
Eastern Merchants Commodities (Pvt) Ltd. 100.00%
Microcell (Pvt) Ltd 100.00%

The total profit and losses for the period of the Company and of its subsidiaries included in consolidation are
shown in the Consolidated Statement of other Comprehensive Income and Statement of Financial Position
respectively. Minority interest which represents the portion of profit or losses and net assets not held by the
group are shown as a component of profit for the period in the and as a component of equity in the
Consolidated Statement of Financial Position separately from parent Shareholders equity.

2 INTERIM CONDENSED FINANCIAL STATEMENTS

The Unaudited Financial Statements for the period ended 30th June 2022, includes “the Company” referring to
Eastern Merchants PLC., as the holding Company and “the Group” referring to the Companies whose accounts have
been consolidated therein.

3 APPROVAL OF UNAUDITED FINANCIAL STATEMENTS

The interim condensed Unaudited Financial Statements of the Group and the Company for the 3 months ended
30th June 2022 were authorized for issue by the Board of Directors on 19th August 2022.

10
 EASTERN MERCHANTS PLC
NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

4 BASIS OF PREPARATION

The interim condensed Financial Statements have been prepared in compliance with Sri Lanka Accounting
Standard LKAS 34 - Interim Financial Reporting. These interim condensed Financial Statements should be read
in conjunction with the annual financial statements for the year ended 31st March 2022.

The presentation and classification of the Financial Statements of the previous year have been amended, where
relevant, for better presentation and to be comparable with those of the current year.

The interim condensed Financial Statements are presented in Sri Lankan Rupees and all values are rounded to
the nearest thousand except when otherwise indicated.

5 OPERATING SEGMENTS

For management purposes, the Group is organized into business units based on their products and services and
has three reportable operating segments as follows:
- Manufacturing & Export of Coir & Rubber Wood Brushes
- Export of Traditional & Non traditional Products
- Others

6 SHARE INFORMATION

6.1 Public Share Holdings

Percentage of share held by the public and the number of Public shareholders is as given below.

30/06/2022 30/06/2021
Public Shareholding 40.96% 40.96%
Public Shareholders 1,315 1,395
Float Adjusted Market Capitalization 269,393 274,204

6.2 Shareholder Analysis as at 30th June 2022

No. of
No. of Shares Held Shareholders No. of Shares %
1-1,000 750 206,232 0.18
1,001-10,000 373 1,584,523 1.35
10,001-100,000 160 5,042,327 4.29
100,001-1,000,000 32 12,674,215 10.79
Over 1,000,000 7 97,938,703 83.39

1,322 117,446,000 100.00

11
 EASTERN MERCHANTS PLC
NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

6.3 Top Twenty Shareholders as at 30th June 2022

Name of Shareholder No. of Shares %

J. B. L. de Silva 32,382,280 27.57

H. J. de Silva 15,881,140 13.52
Mrs. C. I. Tilakaratna 15,396,309 13.11
C. S. L. de Silva 14,581,140 12.42
N. S. Karunaratne 12,629,120 10.75
Eamel Exports Ltd., 5,668,714 4.83
J.B.L.de Silva/K.G.A. de Rajap/N. Senanayake 1,400,000 1.19
Hatton National Bank PLC- S. Paramanathan 1,000,000 0.85
S. D. de A. Rajapakse 980,000 0.83
S. A. de A. Rajapakse 980,000 0.83
K. N. De A. Rajapakse 980,000 0.83
K. B. De A. Rajapakse 880,000 0.75
Dr. E. D. Rodrigo 861,000 0.73
S. P. de A. Rajapakse 729,400 0.62
Mrs. D. E. Perera 600,000 0.51
P. G. Piyasiri 593,396 0.51
H. M. Udeshi 466,880 0.40
Merchant Bank of Sri Lanka & Finance PLC 01 375,000 0.32
DFCC Bank PLC - K. Mithulan 370,708 0.32
Dr./Mrs. C. A. Suranimala 350,000 0.30

107,105,087

6.4 Directors' Shareholdings as at 30th June 2022

As at 30/06/2022 As at 30/06/2021
Name of the Director Shares % Shares %

J. B. L. De Silva 32,382,280 27.57 32,382,280 27.57

H. J. de Silva 15,881,140 13.52 15,881,140 13.52
C. S. L. De Silva 14,581,140 12.42 14,581,140 12.42
S. Jayakody 6,000 0.01 6,000 0.01

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 EASTERN MERCHANTS PLC
NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

6.5 Private Shareholders as at 30th June 2022

Name of Shareholder No. of Shares

J.B.L. De Silva 32,382,280

H.J. De Silva 15,881,140
C.S.L. De Silva 14,581,140
Eamel Exports Ltd. 5,668,714
J.B.L. De Silva/K.G.A. De Rajapakse/N. Senanayake 466,667
Dr. (Mrs.) C. A. Suranimala 350,000
S. Jayakody 6,000

69,335,941

13
 EASTERN MERCHANTS PLC
NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS

7 NET ASSETS PER SHARE

Net Assets per share have been calculated, for all periods, based on the number of shares in issue as at
30th June 2022.

8 MARKET PRICE PER SHARE

FOR THE QUARTER ENDED 30TH JUNE 2022 2021

Rs. Rs.
Highest 7.80 6.70
Lowest 4.50 4.50
Last Traded 5.60 5.70

9 CONTINGENCIES, CAPITAL & OTHER COMMITMENTS

There has been no significant change in the nature of the contingencies and other commitments.

10 EVENTS AFTER THE REPORTING PERIOD

There have been no events subsequent to the reporting date, which require disclosure in the interim condensed
Financial Statements.

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 EASTERN MERCHANTS PLC
INTERIM CONDENSED FINANCIAL STATEMENTS
CORPORATE INFORMATION

Company Name : Eastern Merchants PLC

Company Number : PQ 153

Registered Office : 240, Torrington Avenue, Colombo 07.

Stores Complex : 101, Gonawala Road, Sapugaskanda.

Maswila, Ampegama.

Legal Form : A public quoted Company with limited liability incorporated in

Sri Lanka and listed with the Colombo Stock Exchange.

Principal Activities : Export of traditional and Non-traditional Commodities.

Subsidiaries : Asia Brush (Pvt) Ltd.

Eamel Exports Ltd.
Asian Woodware Company (Pvt) Ltd.
Spice Lane (Pvt) Ltd.
Eastern Merchants Commodities (Pvt) Ltd.
Microcell (Pvt) Ltd

Board of Directors
Chairman : J.B.L. De Silva
Deputy Chairman H.J. De Silva
Managing Director : C.S.L. De Silva

Other Directors : S. Jayakody

Fazal Mushin
Rohith Pradeep
N. Nanayakkara
Secretary : S. Jayakody

Auditors : Messrs. D.H.P. Munaweera & Co.

Bankers : Hatton National Bank PLC

National Development Bank PLC
Slandered Chartered Bank
Bank of Ceylon
Nations Trust Bank PLC
DFCC Bank PLC
Cargills Bank
Seylan Bank PLC

15