(All amounts in Sri Lanka Rupees ’000)

		Group		Company
As at 31 March	Note	2025	2024	2025	2024
Assets
Non-current assets
Property, plant and equipment	14	17,270,048	18,142,428	7,520,928	7,021,499
Right-of-use assets	15	1,575,062	1,681,152	587,207	629,527
Capital work-in-progress	16	317,325	703,359	274,466	508,793
Intangible assets	17	433,904	606,388	327,012	442,191
Goodwill	17	97,114	98,268	Nil	Nil
Investments in subsidiaries	18	Nil	Nil	5,065,841	5,126,027
Deferred tax assets	27	1,947,104	2,239,540	Nil	Nil
Non-current receivables	21	627,859	625,842	1,067,424	1,324,794
		22,268,416	24,096,977	14,842,878	15,052,831
Current assets
Inventories	20	11,332,129	11,645,818	7,147,983	7,559,901
Trade and other receivables	21	11,920,512	9,773,644	9,557,346	9,489,475
Current tax receivables		730,058	614,466	Nil	Nil
Other financial assets	22	4,019,419	1,668,451	3,245,207	1,180,819
Cash and cash equivalents	23	5,584,038	7,233,344	4,180,267	6,054,353
		33,586,156	30,935,723	24,130,803	24,284,548
Total assets		55,854,572	55,032,700	38,973,681	39,337,379
Equity and liabilities
Capital and reserves
Stated capital	30	4,582,871	4,442,234	4,582,871	4,442,234
Share option scheme	33	186,667	181,691	186,667	181,691
Exchange equalisation reserve	31	15,393,591	15,752,202	13,058,023	13,393,498
Retained earnings	32	11,366,369	9,754,037	11,334,920	10,436,101
		31,529,498	30,130,164	29,162,481	28,453,524
Non-current liabilities
Borrowings	25	2,531,225	4,139,942	Nil	Nil
Lease liabilities	15	1,222,829	1,229,391	433,057	437,363
Deferred tax liabilities	27	2,150,800	2,213,454	581,272	700,937
Retirement benefit obligations	26	1,122,028	875,378	709,982	522,388
		7,026,882	8,458,165	1,724,311	1,660,688
Current liabilities
Trade and other payables	24	12,064,278	10,866,322	6,260,404	5,901,919
Current tax liabilities		212,640	281,655	212,639	281,655
Borrowings	25	4,940,980	5,183,782	1,593,682	2,992,455
Lease liabilities	15	80,294	112,612	20,164	47,138
		17,298,192	16,444,371	8,086,889	9,223,167
Total liabilities		24,325,074	24,902,536	9,811,200	10,883,855
Total equity and liabilities		55,854,572	55,032,700	38,973,681	39,337,379

The Board of Directors is responsible for the preparation and presentation of these financial statements. These financial statements were approved for issue by the Board of Directors on 5 June 2025.

These Financial Statements are in compliance with the requirements of the Companies Act No, 07 of 2007.

Signed on behalf of the Board on 5 June 2025

The notes on pages 223 to 288 form an integral part of these financial statements

Independent auditor’s report is set out on pages 213 to 216.