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 | 3 |
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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.