DOCSLIB.ORG

Sustainable Protection

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

SUSTAINABLE PROTECTION DIPPED PRODUCTS PLC | ANNUAL REPORT 2019/20 Scan to view this report online at: www.dplgroup.com SUSTAINABLE PROTECTION Dipped Products PLC is an entity committed to sustaining and protecting our stakeholders and the environment in which we operate. As a respected global manufacturer of sustainable protective hand-wear, we have committed ourselves to the highest standards of quality, innovation and responsibility, entrenching sustainable practices in all we do. In the year under review, we have recorded a significant improvement in profitability while building customer relationships that reinforce and shield our long-term business strategy. Today as we prepare to take on the future with a pledge to sustain and protect the people, we are well-equipped to leverage our resources and explore new avenues to carry forth the value we have secured today into the future. Dipped Products PLC. We’re advocates of sustainable protection. SUSTAINABLE PROTECTION CONTENTS OVERVIEW CORPORATE GOVERNANCE About this Report 04 Corporate Governance 34 Performance Highlights 05 Related Party Transactions Review Chairman and Managing Director’s Committee Report 54 Joint Message 07 Audit Committee Report 55 Board of Directors 10 Annual Report of the Board of Directors Management Team 12 on the Affairs of the Company 57 Value Creation Model 14 Statement of Directors’ Responsibility 61 DPL AT A GLANCE IMPACT OF COVID 19 AND Business Overview 16 WAY FORWARD 62 Group Structure 18 FINANCIAL STATEMENTS PERFORMANCE REVIEW Financial Calendar 64 Operating Environment 20 Independent Auditor's Report 65 Our Strategy 21 Statements of Profit or Loss 68 Operational Review 22 Statements of Comprehensive Income 69 Financial Review 24 Statements of Financial Position 70 Risk Management 26 Statements of Changes in Equity 71 Statements of Cash Flows 74 VALUE CREATION Notes to the Financial Statements 76 Manufactured Capital 28 Human Capital 29 ANNEXES Social and Relationship Capital 30 Decade at a Glance 136 Intellectual Capital 31 The Share 138 Natural Capital 33 Group Structure 142 Glossary 144 Notice of Meeting 145 Form of Proxy 147 Corporate Information IBC 2 DIPPED PRODUCTS PLC | ANNUAL REPORT 2019/20 OVERVIEW VISION To be the preferred and most sought after provider of hand protection wear in the world. MISSION DPL strives to be the preferred global hand protection provider. We are committed to the continual improvement of our business processes and systems. We shall comply with environmental and social obligations, meet the aspirations of our employees, suppliers and shareholders and build relationships of trust. DIPPED PRODUCTS PLC | ANNUAL REPORT 2019/20 3 SUSTAINABLE PROTECTION ABOUT THIS REPORT In the wake of unprecedented operational and financial challenges posed by COVID-19 and our subsequent efforts to rationalise nonessential costs, this year Dipped Products PLC has sought to produce a concise, yet statutorily compliant Annual Report. Content included in the Report has been carefully selected and structured to fulfil the essential information requirements of our stakeholders given the prevalent conditions. The Report includes high-level disclosures on the Group’s operating environment, strategy, performance, governance, sustainability, and our plans for the future. REPORTING ENTITY REPORTING PERIOD STANDARDS AND PRINCIPLES Dipped Products PLC and its operating The Report covers the period from Sri Lanka Financial Reporting Standards subsidiaries in Sri Lanka, Thailand and April 01, 2019 to March 31, 2020. Listing Requirements of the Colombo Italy which are engaged in the Hand Stock Exchange Protection and Plantation sectors. Code of Best Practice on Corporate Governance issued by Securities and Exchange Commission of Sri Lanka (2017) REPORT STRUCTURE This year’s report has been structured to address the following key topics/ questions raised by our stakeholders: Core topic/question The information we share Where to look High-level overview of the Our strategic imperatives and the progress we made Chairman and Managing Director’s Joint Group’s strategy, performance, Developments in our operating landscape Message (Page 07) risk factors and way forward The Group’s financial and operational performance Performance Highlights (Page 05) Introduction to DPL and how Snapshot of the Group DPL at a Glance (Page 136) we create value The process through which we transform our capital Value Creation Model (Page 14) inputs What were the key trends Developments in the global and local economy Operating Environment (Page 20) that shaped the Group’s Market development performance? How the Group performed Operating performance of our key business lines Operating Review (Page 20) during the year? Group’s financial performance Financial Review (Page 24) Approach to Sustainability and Summary of how we nurtured all capitals during Manufactured Capital (Page 28) how the Group created value the year Human Capital (Page 29) Social and Relationship Capital (Page 30) Intellectual Capital (Page 31) Natural Capital (Page 33) How the COVID-19 pandemic Impacts of COVID-19 and what we are doing to Way Forward (Page 62) affects us and our plans for the address the resultant challenges future? Outlook for the future 4 DIPPED PRODUCTS PLC | ANNUAL REPORT 2019/20 OVERVIEW PERFORMANCE HIGHLIGHTS Metric 2019/20 2018/19 % Y-o-Y FINANCIAL PERFORMANCE Revenue Rs. "million" 30,563 30,089 1.57 Operating profit Rs. "million" 1,441 1,782 (19.13) Profit before tax Rs. "million" 1,160 1,643 (29.38) Profit after tax Rs. "million" 850 1,224 (30.55) Return on equity % 6.72 8.33 (19.33) Return on capital employed % 10.27 14.16 (27.47) Working Capital Ratios Inventory holding period Days 65.80 67.04 (1.86) Debtor holding period Days 59.71 61.09 (2.27) Payable holding period Days 50.27 48.25 4.18 Cash conversion cycle Days 75.23 79.88 (5.82) Current ratio Times 1.62 1.53 5.49 Quick asset ratio Times 0.97 0.93 4.37 Financial Stability Total assets Rs. "million" 27,279 26,202 4.11 Total liabilities Rs. "million" 13,248 12,989 1.99 Shareholders’ funds Rs. "million" 11,137 10,422 6.86 Non controlling interest Rs. "million" 2,894 2,791 3.69 Total debt Rs. "million" 6,068 5,270 15.14 FINANCIAL CAPITAL FINANCIAL Debt/Equity No. of times 0.34 0.40 (14.76) Net debt (cash)/Equity No. of times 0.30 0.27 14.16 Debt/Total assets % 22.00 20.00 10.00 Shareholder Information No. of shares In issue Number 59,861,512 59,861,512 - Earnings per share Rs. 12.50 14.51 (13.85) Dividends per share Rs. 4.00 4.50 (11.11) Net asset value per share Rs. 186.04 174.09 6.86 Closing price Rs. 57.00 78.00 (26.92) Market capitalization Rs. "million" 3,412 4,669 (26.92) P/E ratio No. of times 4.56 5.38 (15.17) Dividend payout % 32.00 31.01 3.18 Dividend cover No. of times 3.12 3.22 (3.24) Dividend yield % 7.02 5.77 21.64 DIPPED PRODUCTS PLC | ANNUAL REPORT 2019/20 5 SUSTAINABLE PROTECTION PERFORMANCE HIGHLIGHTS Metric 2019/20 2018/19 % Y-o-Y Property, plant and equipment Rs. “million” 12,317 12,218 0.81 Carbon intensity* Kg/per pair 0.06 0.06 - Capital expenditure Rs. “million” 1,690 748 125.94 CAPITAL MANUFACTURED MANUFACTURED AN INSPIRED TEAM Total employees* No. 1,767 1,531 15.41 Payments to employees* Rs. “million” 2,546 2,389 6.57 Employee retention rate* % 81 74 9.46 No. of promotions* No. 33 21 57.14 Female representation* % 35 33 6.06 HUMAN CAPITAL Investment in training* Rs. “million” 8.6 13.4 (35.82) Total training hours* Hours 28,496 21,841 30.47 Average training hours/employee* Hours 16.12 14.26 13.04 SUSTAINABLE OPERATIONS Payments to suppliers* Rs. “million” 9,096 8,076 12.63 Beneficiaries* No. 5,500 5,000 10.00 Investment in CSR* Rs. “million” 4 4 - SOCIAL AND SOCIAL NETWORK CAPITAL NETWORK PRODUCTS AND INNOVATION New products launched* No. 17 8 112.50 Investment in R &D* Rs. “million” 113.5 86.4 31.37 CAPITAL Customer satisfaction* % 87 81 7.41 INTELLECTUAL INTELLECTUAL SUSTAINABLE OPERATIONS Energy consumption* GJ “million” 1.32 1.33 (0.75) % of renewable energy* % 91 91 - 3 CAPITAL NATURAL NATURAL Water consumption* M “million” 1.56 1.49 4.70 Carbon footprint* MtCO2e 14,559 14,296 1.84 * Hand Protection sector only 6 DIPPED PRODUCTS PLC | ANNUAL REPORT 2019/20 OVERVIEW CHAIRMAN AND MANAGING DIRECTOR’S JOINT MESSAGE “We are confident that recent investments we have made in strengthening our production, process and human capabilities have positioned us in good stead to weather the challenges presented by this pandemic” A M Pandithage Chairman Dear Shareholder, operational efficiencies enabled the Hand Protection Sector to The year under review was one which tested the mettle of our record a 29% growth in pre-tax profits to Rs. 1.0 billion. On the team and the agility of our strategy. The economic and social other hand, the escalation of costs arising from the 40% increase implications of the COVID-19 pandemic we began to experience in the basic wage of plantation sector workers coupled with lower in the latter part of the year under review were unprecedented. prices resulted in the Plantation Sector recording a sharp drop in The organisations were compelled to rethink their strategies and pre-tax profit to Rs. 221 million. Overall, the Group’s Consolidated reinvent their business models to ensure commercial viability and pre-tax profit recorded a 29% decline to Rs. 1.16 billion during the sustainability. For Dipped Products PLC, we are confident that year under discussion. recent investments we have made in strengthening our production, process and human capabilities have positioned us in good stead An Agile Strategy to weather the challenges presented by this pandemic.
Recommended publications
  • Jkanter of Htbratq K 3Nformatt0n %T\Tmt 1999-2000

    Jkanter of Htbratq K 3Nformatt0n %T\Tmt 1999-2000

    POLITICAL PROBLEMS IN SRI LANKA SINCE 1990: AN ANNOTATED BIBLIOGRAPHY JDISSER TA TION tfu/imiUed in fux^jUai Adplmenl lii the ie^^^msfiA fo/i the oMtfoid ^ lAe de^^m of jKanter of HtbratQ k 3nformatt0n %t\tmt 1999-2000 '// RAZiQALl QABRI ROLL NO. 97LSM>23 ENROL. NO. Z.3589 Sujis,%vixion of MS. NISHAT FATIMA (JLcciuii^x) DEPARTMENT OF LIBRARY AND INFORRilATIGN SCIENCE ALI6ARH MUSLIM UNIVERSITY ALIQARH (INDIA) 2000 b^-:^i7^ DS3195 f^ h Compute DEPARTMENT OF LIBRARY AND INFORMATION SCIENCE ALIGARH MUSLIM UNIVERSITY, ALIGARH - 202 002 (U.P.), INDIA Dated. This is to certify that Mr. Raziq Ali Qadri has completed his dissertation entitled "Political Problems in Sri Lanka Since 1990: An Annotated Bibliography", in partial fulfilment of the requirements for the Degree of Master of Library and Information Science (1999-2000). Kfe has conducted the work under my supervision and guidance. I deem it fit for submission. i|Fatima : Lecturer COIVTEIVTS ACKNOWLEDGEMENT C:HL.4Ll»TEIt — 1 1-7 OBJECTIVE, SCOPE METHODOLOGY AND ARRANGEMENT C:M^^P»TEI^ — II 8-62 INTRODUCTION • SRI LANKA: INTRODUCTION 8-18 > Physical Features > Historical Retrospect > Demographic & Geographic Characteristics • THE POLICITICAL PROBLEMS 18-45 > Problem of Citizenship > Economical Problem > Ethnic Problem Problem of Language Problem of Higher Education Communal Problem Colonization Problem Problem of Employment Other Problems • SRI LANKAN GOVERNMENT ATTITUDE 45-49 • TAMIL RESPONSE 50-52 •I* SOLUTIONS 52-59 •;• SUM UP 59-62 Contents C:H^^I»TEI^ — III 63-172 ANNOTATED BIBLIOGRAPHY C:H.A.I»TER. — T\r 173-184 INDICES • AUTHOR INDEX 173-178 • TITLE INDEX 179-184 ACKNOWLEDGEMENT &^ii<<it of oM Q/ would loke (o ma^n/c C25^^«^25/C^ me &^4lndaMu, oecauae off Wnode nem O'niu me^ woyrA wm<A UMIA ai/mAlu <m Q/ umA Co- eaofvifSM w/u deeA ae/tiae of arO'tiCuae a^ml nioAeit a^iAiceci<iti<>n to- -my, ^t^Jiected (fxicAe^ an<l Qfu^^/mjtMi^ Q/HA.

  • How to Cite Complete Issue More Information About This

    Colombia Internacional ISSN: 0121-5612 Departamento de Ciencia Política y Centro de Estudios Internacionales. Facultad de Ciencias Sociales, Universidad de los Andes Fernandez Torne, Carles Submissive to the Political Will? Civil Society and Victims’ Mobilization around Truth Commissions* Colombia Internacional, no. 97, 2019, January-March, pp. 57-85 Departamento de Ciencia Política y Centro de Estudios Internacionales. Facultad de Ciencias Sociales, Universidad de los Andes DOI: https://doi.org/10.7440/colombiaint97.2019.03 Available in: https://www.redalyc.org/articulo.oa?id=81258313003 How to cite Complete issue Scientific Information System Redalyc More information about this article Network of Scientific Journals from Latin America and the Caribbean, Spain and Journal's webpage in redalyc.org Portugal Project academic non-profit, developed under the open access initiative Submissive to the Political Will? Civil Society and Victims’ Mobilization around Truth Commissions Carles Fernandez Torne Universitat Autònoma de Barcelona (Spain) HOW TO CITE: Fernandez Torne, Carles. 2019. “Submissive to the Political Will? Civil Society and Victims’ Mobilization around Truth Commissions”. Colombia Internacional (97): 57-85. https://doi.org/10.7440/ colombiaint97.2019.03 RECEIVED: April 30th, 2018 ACCEPTED: July 15th, 2018 REVISED: October 25th, 2018 https://doi.org/10.7440/colombiaint97.2019.03 ABSTRACT. Objective/context: The article explores truth commissions as processes that allow victims and civil society mobilization. It examines the relationship between victims and civil society with the governing regime in the lead up to the establishment of a truth commission and in the implementation of a commission’s recommendations. The article frames mobilization as enabling vertical accountability relationships following the pressure that victims and civil society exert on the governing regime.
  • Designed to Protect

    Designed to Protect

    designed to protect Dipped Products PLC - Annual Report 2020/21 Scan to view this report online at: www.dplgroup.com Designed to Protect At DPL we are a renowned entity designed to protect our customers, drive stakeholder values, and sustain the communities and the environment in which we operate. That’s how we forged ahead purposefully with streamlined processes and best practices to redefine our core values and unwavering commitment each year. The year under review proved to be an exceptional one in terms of performance as we continued to preserve a remarkable reputation for innovation, quality and responsible manufacturing practices; demonstrating the best performance in the history of our existence. As we continue to uphold our corporate strengths, and diversify our portfolio to cater to evolving stakeholder needs; we are honing our focus, capabilities, technologies and business to shape our progress, while expanding our capacity to explore new avenues to enrich our offering of protection, trust and care. Dipped Products PLC. We’re designed to protect. 2 DIPPED PRODUCTS PLC PERFORMANCE DPL delivered a year of remarkable growth and profitability to achieve the Group’s highest-ever revenue and profit. The performance reflects the Group’s ability to swiftly increase capacity utilisation over the short-term through re-engineering processes, optimising resources and embracing new ways of working; this in turn enabled DPL to capitalise on the opportunity presented by the surge in demand for gloves. 52% Rs.7.19 Bn Rs.5.83 Bn Growth in revenue supported by Profit-Before-Tax Profit-After-Tax the surge in demand and customer acquisition VALUE TO PEOPLE As a Group with far reaching stakeholder impacts across its value chain, the Group is committed to delivering shared value in its operations.
  • Welfarism and Politics in Sri Lanka

    Welfarism and Politics in Sri Lanka

    Welfarism and Politics in Sri Lanka Welfarism and Politics in Sri Lanka Experience of a Third World Welfare State Foreword: Gamani Corea School of Social Work and Social Policy Copyright © Laksiri Jayasuriya 2000 First Published 2000 Published by the School of Social Work and Social Policy, University of Western Australia, Perth, WA 6907 Australia. All rights reserved. Except for the quotation of short passages for the purposes of criticism and review, no part of this book may be reproduced, stored in a retrieval system of transmitted by any means or process whatsoever without the prior written permission of the publisher. National Library of Sri Lanka cataloguing-in-publication data. Welfarism and Politics in Sri Lanka, Experience of a Third World Welfare State. Laksiri Jayasuriya: Foreword Gamani Corea Jayasuriya, D.L. (Dharmasoka Laksiri), 1931- Welfarism and politics in Sri Lanka : the experience of a third world welfare state ISBN 1 74052 003 3 1. Public Welfare — Sri Lanka — politics. 2. Welfare State — Sri Lanka. 3. Sri Lanka — Social Policy. I. University of Western Australia. Dept. of Social Work and Social Policy. II.Title. 361.6/1/095489 dc21 Printed by Uniprint, The University of Western Australia Cover Design by Past Midnight Designs, Highgate. WA iv For my family Rohini, Kanishka and Pradeep and my parents, Walter and Soma ‘Economic growth cannot sensibly be treated as an end in itself’ Amartya Sen (1999) ‘Socially regulated forms of capitalism do best in meeting human needs’ L. Doyal and I. Gough (1994) v vi FO R E W O R D A number of indicators have ranked Sri Lanka high among the developing countries for her attainments in the social field.
  • Annual Report 2015/16 the Best Way to Find out If You Can Trust Somebody Is to Trust Them

    Annual Report 2015/16 the Best Way to Find out If You Can Trust Somebody Is to Trust Them

    Annual Report 2015/16 The best way to find out if you can trust somebody is to trust them. Ernest Hemingway Dipped Products PLC Sector : Manufacturing Nature of Business : Manufacturer of Latex Industrial & Household Gloves and Plantation Management. Financial Year Ends : 31st March Stock Code : DIPD.N0000 ISIN : LK0057N00006 Established : 1976 Trust. Faith. Confidence. As any good manufacturer knows, these are the qualities that make the difference between an ordinary company and a great one. Earning, and owning, the trust of thousands of customers while serving each one with responsibility and value is no easy task, yet at Dipped Products we believe that our stakeholders’ goodwill and trust in our capabilities is absolute. Because for many years now, we have led the way in delivering high-quality, innovative protective hand-wear to customers across the world. Business integrity, industry expertise and stakeholder value creation are corporate characteristics now strongly associated with the Dipped Products brand. And as the reviews in this report will show, our model of growth is sustainable and our fundamentals strong. That’s why we are so confident that the year ahead will be an exciting one, our future full of promise. And that’s why so many customers, business associates, investors, regulators and communities will continue to place their trust in us. Mission DPL strives to be the preferred global hand protection provider. We are committed to the continual improvement of our business processes and systems. We shall comply with environmental and social obligations, meet the aspirations of our employees, suppliers and shareholders and build relationships of trust.
  • Nurturing Democracy in Armed Conflicts Through Political Motherhood: a Comparative Study of Women's Political Participation in Argentina and Sri Lanka

    Nurturing Democracy in Armed Conflicts Through Political Motherhood: a Comparative Study of Women's Political Participation in Argentina and Sri Lanka

    Nurturing Democracy in Armed Conflicts through Political Motherhood: A Comparative Study of Women’s Political Participation in Argentina and Sri Lanka A dissertation submitted to the Graduate School of the University of Cincinnati in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Department of Political Science of the College of Arts and Sciences by Crystal Whetstone M.A. Wright State University August 2020 Committee Chair: Dr. Rina Verma Williams, PhD Abstract: This project examines women peace activists mobilized through political motherhood, a gendered form of political participation in which women represent themselves as mothers. I ask: What impacts the legacies of political motherhood movements in terms of duration, visibility and remembrance? By duration, I mean the length of time an organization remains active. Visibility refers to how “seen” a civic group is. Remembrance implies whether an organization’s work is remembered or forgotten. I argue that it is the perceptions of other social movement organizations (especially of feminist and human rights organizations) that contribute to either upward or downward spirals of duration, visibility and remembrance that in turn impact the legacies of political motherhood movements. When social movement actors perceive the duration, visibility and remembrance of a political motherhood movement positively, this upward spiral promotes the legacy of that movement. Conversely, when perceptions of duration, visibility and remembrance are viewed negatively, this downward spiral deadens the legacy of that political motherhood movement. This study compares Argentina’s Madres of the Plaza de Mayo (Madres) and Sri Lanka’s Mothers’ Front using visual analysis, feminist re-reading and counterfactuals.