Contents

OVERVIEW

Financial Highlights | 3

Deputy Chairman's Message | 4

Group Managing Director/CEO's Review | 7

Board of Directors | 9

MANAGEMENT DISCUSSION

AND ANALYSIS

Financial Review | 13

Financial Services | 17

Local Financial Services | 17

Global Financial Operations | 23

Agriculture and Plantations | 25

Leisure | 28

Digital & Information Technologies | 30

Construction and Real Estate | 33

Manufacturing and Trading | 34

Strategic Investments | 38

Advanced Technologies | 39

STEWARDSHIP

Report of the Board of Directors | 42

Report of the Audit Committee | 45

Report of the Talent Development and Remuneration Committee | 46 Report of the Related Party Transaction Review Committee | 47 Report of the Integrated Risk Management Committee | 48

Report of the Corporate Governance Committee | 49 Corporate Governance Report | 50

Enterprise Risk Management | 55

FINANCIAL STATEMENTS

Financial Calendar | 58

Chief Executive Officer's and Chief Financial Officer's Responsibility Statement | 59

Directors' Responsibility for Financial Reporting | 60 Independent Auditor's Report | 61 Statement of Financial Position | 66 Statement of Profit or Loss | 68 Statement of Comprehensive Income | 70 Statement of changes in equity-Company| 72 Statement of changes in equity-Group| 76 Statement of Cash Flows | 82

Notes to the Financial Statements | 84

SUPPLEMENTARY INFORMATION

Ten Year Summary | 314 Summarised Quarterly Statistics | 318 Value Addition | 320

Indicative US Dollar Financial Statements | 321 List of Group Companies | 323

Investor Information | 339

Corporate Information | 341

Notice of Annual General Meeting | 342 Form of Proxy | 343

2

LOLC HOLDINGS PLC Annual Report 2021/22

OVERVIEW

Financial Highlights

For the year ended 31 March

2013

2014

2015

2016

2017

2018

2019

2020 *

2021*

2022

Group

Performance Indicators - Rs.Mn

Net profit before tax -

3,706

4,436

8,169

11,858

24,379

24,655

9,550

3,376

57,135

83,553

continuing operations

Net profit after tax -

2,552

3,069

6,299

9,331

20,921

19,190

5,933

812

53,233

77,596

continuing operations

Total assets

162,982

167,175

244,917

379,595

640,925

822,239

1,043,747

1,335,919

874,944

1,371,469

New executions (Local)

48,119

65,299

113,048

191,135

152,558

172,673

129,588

129,099

100,140

153,267

Lending portfolio

107,038

112,747

172,784

216,763

427,365

560,845

723,822

919,319

423,787

616,621

(rentals receivable)

Deposits from customers

35,397

49,615

50,587

74,166

211,128

307,529

452,075

563,942

263,593

377,575

Outstanding borrowings

72,946

68,368

119,232

215,076

294,115

341,549

387,934

503,699

315,610

453,924

Non-performing portfolio

3,071

3,354

4,014

5,054

7,736

10,187

16,791

27,140

23,617

25,473

Return on equity (%)

5.90

7.05

13.16

25.84

35.54

15.05

14.52

12.21

24.28

31.89

Key Indicators - Rs. per share

Net asset value per share

43.96

47.64

59.41

79.33

123.84

148.28

181.09

194.72

291.37

515.81

(adjusted)

Earnings per share (adjusted)

5.37

3.19

11.37

17.93

36.11

20.47

23.76

22.93

59.01

128.71

Market capitalisation (Rs. Bn)

28.84

35.64

36.40

34.21

28.99

56.07

42.25

43.15

138.76

46.70

Company

Performance Indicators - Rs.Mn

Net profit before tax

68

689

458

835

10,149

4,763

(3,106)

(9,094)

28,317

61,064

Net profit after tax

34

694

504

689

9,777

4,699

(3,194)

(9,213)

28,041

61,163

Total assets

53,239

49,254

62,609

75,494

102,007

110,723

124,996

191,741

252,953

409,926

New executions

271

-

-

-

-

-

-

-

-

-

Lending portfolio

3,881

2,134

1,378

1,848

850

2,414

2,535

5,513

9,218

10,163

(rentals receivable)

Outstanding borrowings

19,738

14,254

25,016

38,369

52,698

54,241

73,524

95,413

105,175

146,018

Non-performing portfolio

357

178

168

168

153

149

151

151

119

92

Key Indicators - Rs. per share

Dividends per share

0.50

-

-

-

-

-

-

-

-

-

Market price per share

60.70

75.00

76.60

72.00

61.00

118.00

88.90

88.90

292

597

Net asset value per share

68.86

71.82

73.44

74.71

98.89

108.69

101.49

194.72

291.37

515.81

Debt to equity ratio - Times

0.60

0.42

0.72

1.08

1.12

1.05

1.52

1.03

0.76

0.60

Interest cover - Times

1.02

1.25

1.27

1.26

2.93

1.78

0.61

0.15

3.98

6.27

Dividend cover - Times

0.14

-

-

-

-

-

-

-

-

-

* Comparative details of the Company were restated with the changing in accounting policy as disclosed under section 2.12 to these financial statements.

Annual Report 2021/22 LOLC HOLDINGS PLC

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LOLC Holdings plc published this content on 01 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 September 2022 14:30:02 UTC.