Nation Lanka Finance PLC | |||||
Statement of Financial Position | |||||
Company | Group | ||||
As at 31st March | As at 31st March | As at 31st March | As at 31st March | ||
2024 | 2023 | 2024 | 2023 | ||
Audited | Audited | ||||
Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | ||
ASSETS | |||||
Cash and Cash Equivalents | 247,952 | 80,351 | 247,952 | 80,351 | |
Deposits With Licensed Commercial Banks | 458,387 | 384,640 | 458,387 | 384,640 | |
Financial Assets Recognized Through Profit or | |||||
Loss-Measured at fair value | 70,116 | 66,507 | 70,116 | 66,507 | |
Financial Assets Measured at Fair Value Through Other | |||||
Comprehensive Income | 43,244 | 43,240 | 43,244 | 43,240 | |
Financial Assets Measured at Amortized Cost | |||||
- Loans and Advances | 4,367,338 | 3,280,515 | 4,367,338 | 3,280,515 | |
- Debt and Other Instruments | 1,189,998 | 566,392 | 1,189,998 | 566,392 | |
Amounts Due From Related Parties | - | 763,103 | - | 763,103 | |
Real Estate Stock | 288,359 | 118,908 | 288,359 | 118,908 | |
Investment Property | 1,496,829 | 1,285,901 | 1,496,829 | 1,285,901 | |
Property, Plant & Equipment | 190,909 | 43,214 | 190,909 | 43,214 | |
Right-to-use Asset | 241,056 | 105,198 | 241,056 | 105,198 | |
Receivable from Kanrich Finance Ltd | - | 1,121,884 | - | 1,121,884 | |
Intangible Assets | 13,478 | 567 | 13,478 | 567 | |
Trade & Other Receivables | 383,266 | 211,301 | 383,266 | 211,301 | |
Retirement Benefit Plan Assets | 96,790 | 96,790 | 96,790 | 96,790 | |
Deferred Tax Asset | 877,555 | 769,483 | 877,555 | 769,483 | |
TOTAL ASSETS | 9,965,277 | 8,937,994 | 9,965,277 | 8,937,994 | |
LIABILITIES | |||||
Due to Banks and Financial Institutions | 110,289 | 613,937 | 110,289 | 613,937 | |
Financial Liabilities at amortized cost-due to depositors | 6,482,709 | 6,267,356 | 6,482,709 | 6,267,356 | |
Lease liability | 244,201 | 104,155 | 244,201 | 104,155 | |
Amounts Due To Related Parties | 509 | 509 | 509 | - | |
Other Borrowings | 1,173,705 | 817,189 | 1,173,705 | 817,189 | |
Current Tax Liability | - | - | |||
Retirement Benefit Obligations | 77,451 | 36,631 | 77,451 | 36,630 | |
Trade & Other Payables | 818,914 | 178,298 | 818,914 | 178,236 | |
Subordinated Debentures | - | - | - | - | |
TOTAL LIABILITIES | 8,907,777 | 8,018,075 | 8,907,777 | 8,017,503 | |
CAPITAL AND RESERVES | |||||
Stated Capital | 3,584,353 | 2,330,073 | 3,584,353 | 2,330,073 | |
Reserve Fund | 211,928 | 131,422 | 211,928 | 131,422 | |
Fair value reserve | 109,395 | (88,955) | 109,395 | (88,955) | |
Other Reserves | 9,290 | 9,000 | 9,290 | 9,000 | |
Retained Earnings | (2,857,466) | (1,461,620) | (2,857,466) | (1,461,048) | |
TOTAL EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF | |||||
THE COMPANY | 1,057,500 | 919,919 | 1,057,500 | 920,492 | |
Non-Controlling Interest | - | - | - | - | |
TOTAL EQUITY | 1,057,500 | 919,919 | 1,057,500 | 920,492 | |
TOTAL LIABILITIES & EQUITY | 9,965,277 | 8,937,994 | 9,965,277 | 8,937,995 | |
Net Assets Per Share | 0.00 | 0.00 | 0.00 | 0.00 | |
Contingent liabilities and commitments | 15,200 | 15,200 | 15,200 | 15,200 |
CERTIFICATION
We, the undersigned being Chief Financial Officer and Director of Nation Lanka Finance PLC certify jointly that:
- the above statements have been prepared in compliance with the format and definitions prescribed by the Central Bank of SriLanka and Companies Act no 07 of 2007.
- the information contained in these statements have been extracted from the unaudited financial statements of the Nation Lanka Finance PLC unless indicated as audited.
Nation Lanka Finance PLC
Statement of Profit or Loss and Other Comprehensive Income
Company | Group | |||||||
Quarter ended | Quarter ended | Twelve months | Twelve months | Quarter | Quarter ended | Twelve months | Twelve months | |
31st March | 31st March | ended 31st March | ended 31st March | ended 31st | 31st March | ended 31st March | ended 31st March | |
2024 | 2023 | 2024 | 2023 (Audited) | March 2024 | 2023 | 2024 | 2023 (Audited) | |
Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' |
Interest income | 205,710 | 309,656 | 1,662,093 | 1,133,729 |
Interest expense | (369,501) | (370,072) | (1,950,982) | (1,300,109) |
Net interest income | (163,791) | (60,415) | (288,888) | (166,380) |
Net income / (loss) on property development | - | - | 514 | - |
Fee and commission income | 5,694 | 9,254 | 24,665 | 8,058 |
Net fair value gains/(losses) from financial instruments | ||||
at fair value through profit or loss | 9,895 | (10,120) | 3,609 | 5,016 |
- | ||||
Change in fair value of investment property | - | 4,545 | - | 109,664 |
- | ||||
Other operating income | (8,314) | 120,858 | 308,613 | 282,336 |
Collection from contracts previously written off | 13,309 | 2,585 | 30,129 | 13,425 |
Total operating income | (143,208) | 66,707 | 78,642 | 252,119 |
Impairment for loans and other losses | (6,732) | 75,246 | 147,760 | (454,688) |
Net operating income | (149,940) | 141,952 | 226,402 | (202,569) |
Operating Expenses
205,710 | 309,656 | 1,662,093 | 1,133,729 |
(369,501) | (370,072) | (1,950,982) | (1,300,109) |
(163,791) | (60,415) | (288,888) | (166,380) |
- | 514 | - | |
5,694 | 9,254 | 24,665 | 8,058 |
9,895 | (10,120) | 3,609 | 5,016 |
- | 4,545 | - | 109,664 |
(8,314) | 120,858 | 308,613 | 282,336 |
13,309 | 2,585 | 30,129 | 13,425 |
(143,208) | 66,707 | 78,642 | 252,119 |
(6,732) | 75,246 | 147,760 | (454,688) |
(149,940) | 141,952 | 226,402 | (202,569) |
Personnel Costs | (236,152) | (86,172) | (751,608) | (339,390) | (236,152) | (86,172) | (751,608) | (339,390) | |
Premises Equipment & Establishment Expenses | (109,777) | (27,344) | (426,541) | (167,739) | (109,777) | (27,344) | (426,541) | (167,739) | |
Other Overhead Expenses | (67,079) | (117,378) | (505,894) | (299,221) | (67,079) | (117,378) | (505,894) | (299,221) | |
Other Finance Cost | (483) | (634) | (3,418) | (2,422) | (483) | (634) | (3,418) | (2,422) | |
Total Operating Expenses | (413,492) | (231,528) | (1,687,461) | (808,772) | (413,492) | (231,528) | (1,687,461) | (808,772) | |
Operating profit / ( loss) before VAT | (563,432) | (89,576) | (1,461,058) | (1,011,341) | (563,432) | (89,576) | (1,461,058) | (1,011,341) | |
Vat on financial services | (30,967) | (805) | (30,967) | (3,221) | (30,967) | (805) | (30,967) | (3,221) | |
Operating profit / (loss) after VAT | (594,398) | (90,381) | (1,492,025) | (1,014,562) | (594,398) | (90,381) | (1,492,025) | (1,014,562) | |
Tax expenses | - | 113,684 | - | 103,422 | - | 110,733 | - | 103,422 | |
Profit / (loss) for the period | (594,398) | 23,304 | (1,492,025) | (911,140) | (594,398) | 20,352 | (1,492,025) | (911,140) | |
Other comprehensive income | - | - | - | (3,288) | - | - | - | (3,288) | |
Total comprehensive income | (594,398) | 23,304 | (1,492,025) | (914,428) | (594,398) | 20,352 | (1,492,025) | (914,428) | |
Profit / (Loss) attributable to | |||||||||
Equity holders of the company | (594,398) | 20,352 | (1,492,025) | (911,140) | |||||
Non controlling interest | - | - | - | - | |||||
(594,398) | 20,352 | (1,492,025) | (911,140) | ||||||
Total comprehensive income attributable to | |||||||||
Equity holders of the company | (594,398) | 20,352 | (1,492,025) | (914,428) | |||||
Non controlling interest | - | - | - | - | |||||
(594,398) | 20,352 | (1,492,025) | (914,428) |
Basic earnings per ordinary share | (0.00) | 0.00 | (0.00) | (0.00) | (0.00) | 0.00 | (0.00) | (0.00) |
Company
Balance as at 01.04.2022
Right issue of shares
Profit / (loss) for the year
Other comprehensive income for the year Balance as at 31.03.2023
Balance as at 01.04.2023
Addition on Merger
Profit / (loss) for the year
Other comprehensive income for the year Balance as at 31.03.2024
Group
Balance as at 01.04.2022
Right issue of shares
Profit / (loss) for the year
Other comprehensive income for the year Balance as at 31.03.2023
Balance as at 01.04.2023
Addition on Merger
Profit / (loss) for the year
Other comprehensive income for the year Balance as at 31.03.2024
Nation Lanka Finance PLC
Statement of Changes in Equity as at 31st March 2024
Stated | Fair Value | Reserve | General | Retained | Minority | Total |
Capital | Reserve | Fund | Reserve | Profit | Interest | Equity |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
1,224,042 | (91,340) | 131,422 | 9,000 | (544,807) | - | 728,317 |
1,106,031 | 1,106,031 | |||||
- | - | - | - | (911,140) | - | (911,140) |
- | 2,385 | - | - | (5,673) | - | (3,288) |
2,330,073 | (88,955) | 131,422 | 9,000 | (1,461,620) | - | 919,919 |
2,330,073 | (88,955) | 131,422 | 9,000 | (1,461,620) | - | 919,919 |
1,254,280 | 198,350 | 80,506 | 290 | 96,180 | 1,629,606 | |
- | - | - | - | (1,492,025) | - | (1,492,025) |
- | - | - | - | - | - | - |
3,584,353 | 109,395 | 211,928 | 9,290 | (2,857,465) | - | 1,057,500 |
1,224,042 | (91,340) | 131,422 | 9,000 | (544,235) | - | 728,889 |
1,106,031 | 1,106,031 | |||||
- | - | - | - | (911,140) | - | (911,140) |
- | 2,385 | - | - | (5,673) | - | (3,288) |
2,330,073 | (88,955) | 131,422 | 9,000 | (1,461,048) | - | 920,491 |
2,330,073 | (88,955) | 131,422 | 9,000 | (1,461,048) | - | 920,491 |
1,254,280 | 198,350 | 80,506 | 290 | 95,607 | 1,629,033 | |
- | - | - | - | (1,492,025) | - | (1,492,025) |
- | - | - | - | - | - | - |
3,584,353 | 109,395 | 211,928 | 9,290 | (2,857,466) | - | 1,057,500 |
Nation Lanka Finance PLC
Statement of Cash Flows
Company | Group | |||
Rs. '000' | Rs. '000' | |||
For twelve months ended 31st March 2024 | 2024 | 2023 (Audited) | 2024 | 2023 (Audited) |
Cash Flow from Operating Activities | ||||
Profit/(Loss) before Income Tax Expense | (1,492,025) | (1,014,562) | (1,492,025) | (1,014,562) |
Adjustments for | ||||
Net fair value gains/(losses) from financial instruments Measured at FVTPL | (3,609) | (5,016) | (3,609) | (5,016) |
Dividend Income | (13,971) | (10,349) | (13,971) | (10,349) |
Depreciation and amortization | 54,785 | 15,853 | 54,785 | 15,853 |
Amortization of ROU assets | (135,858) | 43,698 | (135,858) | 43,698 |
Interest expense on lease liability | 140,046 | 14,808 | 140,046 | 14,808 |
Interest Expenses | 1,950,982 | 1,285,301 | 1,950,982 | 1,285,301 |
Interest income on Government Securities | 133,929 | (116,365) | 133,929 | (116,365) |
Interest income from advances given to Kanrich Finance PLC | 121,884 | (121,884) | 121,884 | (121,884) |
Impairment of Loans and Receivables | (147,760) | 454,684 | (147,760) | 454,684 |
Provision for imapairment of Trade and other receivables | (59) | - | (59) | |
Provision for fall in value of Real Estate Stock | - | (15,102) | - | (15,102) |
Change in Fair Value of Investment Property | (210,928) | (109,665) | (210,928) | (109,665) |
Provision / (Reversal) for Retiring Benefit Obligations | 40,820 | (3,788) | 40,820 | (3,788) |
Profit on disposal of Property , Plant & Equipment | (1,173) | (35) | (1,173) | (35) |
Impairment of other investments | (4,708) | 64 | (4,708) | 64 |
Operating Profit Before Working Capital Changes | 432,413 | 417,583 | 432,413 | 417,583 |
Working Capital Changes | ||||
Increase in Other Assets | (17,818) | (17,818) | ||
Decrease/(Increase) in Financial Assets at Amortized cost | 613,937 | (192,743) | 613,937 | (192,743) |
Decrease/(Increase) in Investment in Real Estate | (169,451) | - | (169,451) | - |
Decrease/(Increase) in Related Party Receivables | 763,103 | (759,952) | 763,103 | (759,952) |
Decrease/(Increase) in Trade and Other Receivables | (171,965) | (7,634) | (171,965) | (7,634) |
Increase/(Decrease) in Related Party Payables | - | (104) | - | (104) |
Increase/(Decrease) Trade & Other Payables | 689,471 | (110,808) | 689,471 | (110,808) |
Increase/(Decrease) Financial Liabilities at amortized cost -due to depositors | 215,353 | 912,193 | 215,353 | 912,193 |
Cash from Operations | 2,372,861 | 240,716 | 2,372,861 | 240,716 |
Income Tax Paid | (108,072) | (11,804) | (108,072) | (11,804) |
Interest expenses paid | (1,950,982) | (1,172,794) | (1,950,982) | (1,172,794) |
Retiring Gratuity Paid | (18,143) | (3,787) | (18,143) | (3,787) |
Net Cash generated from Operating Activities | 295,664 | (947,669) | 295,664 | (947,669) |
Cash Flow from Investing Activities | ||||
Proceeds from Sale of Property, Plant & Equipment | 1,173 | 35 | 1,173 | 35 |
Acquisition of Property, Plant & Equipment | (147,695) | (38,428) | (147,695) | (38,428) |
Acquisition of Intangible Assets | (12,911) | (420) | (12,911) | (420) |
Advanced to purchase gold articles to Kanrich Finance Ltd | 1,000,000 | (1,000,000) | (1,000,000) | |
Net proceed from government securities | (757,536) | (742,746) | (757,536) | (742,746) |
Dividend Income received from other investments | 13,971 | 896,537 | 13,971 | 896,537 |
Acquisition of Financial Assets Measured at FVTPL | 10,349 | 10,349 | ||
Investment in Deposits with Licensed Commercial Banks | (73,747) | (58,649) | (73,747) | (58,649) |
Net Cash used in Investing Activities | 23,257 | (933,322) | (976,743) | (933,322) |
Cash Flow from Financing Activities | ||||
Repayment of Loans | 356,516 | (712,758) | 356,516 | (712,758) |
Right Issue of Shares | 1,106,031 | 1,106,031 | ||
Proceeds from Borrowings | 940,834 | - | 940,834 | |
Lease rental payments | (4,188) | (35,785) | (4,188) | (35,785) |
Repayment of Subordinated Debentures | - | - | - | |
Net Cash generated from Financing Activities | 352,328 | 1,298,323 | 352,328 | 1,298,323 |
Increase/(Decrease) in Cash & Cash Equivalents | 671,249 | (567,566) | (328,751) | (582,668) |
Cash & Cash Equivalents at the Beginning of the Year | (533,586) | 54,021 | (533,586) | 54,021 |
Cash & Cash Equivalents at the End of the year | 137,663 | (513,545) | (862,337) | (528,647) |
Reconciliation of Cash & Cash Equivalents | ||||
Cash in Hand & at Bank | 247,952 | 80,351 | 247,952 | 80,351 |
Bank Overdraft | (110,289) | (593,896) | (110,289) | (593,896) |
137,663 | (513,545) | 137,663 | (513,545) |
10
Nation Lanka Finance PLC | ||
Selected Performance Indicators (as per regulatory reporting) | ||
As at 31st March | As at 31st March 2023 | |
2024 | (Audited) | |
'000' | '000' | |
Regulatory Capital Adequacy | ||
Core capital ( Tier 1 capital) | 646,180 | 500,699 |
Total capital base | 1,057,500 | 919,919 |
Minimum 8.5% | Minimum 8.5% | |
Core capital adequacy ratio , as % of risk weighted assets | -3.04% | -3.14% |
Minimum 12.5% | Minimum 12.5% | |
Total capital adequacy ratio , as % of risk weighted assets | -2.00% | -2.17% |
Asset Quality ( Quality of loan portfolio) | ||
Gross Non -Performing Accommodations | 5,730,365 | 3,129,222 |
Gross Non -Performing Accommodations % | 74% | 54% |
Regulatory Liquidity | ||
Required minimum amount of liquid assets | 657,376 | 635,456 |
Available amount of liquid assets | 1,280,157 | 521,282 |
Nation Lanka Finance PLC
Segment Information
Lending | ||
Twelve months ended | ||
Twelve months ended | 31st March 2023 | |
31st March 2024 | (Audited) | |
Rs. '000' | Rs. '000' | |
Interest income | 1,662,093 | 1,133,729 |
Interest expense | (1,950,982) | (1,300,109) |
Net interest income | (288,888) | (166,380) |
Net income / (loss) on property development | 514 | - |
Fee and commission income | 24,665 | 8,058 |
Net fair value gains/(losses) from financial instruments | ||
at fair value through profit or loss | 3,609 | 5,016 |
Change in fair value of investment property | - | 109,664 |
Other operating income | 308,613 | 282,336 |
Collection from contracts previously written off | 30,129 | 13,425 |
Total operating income | 78,642 | 252,119 |
Impairment for loans and other losses | 147,760 | (454,688) |
Net operating income | 226,402 | (202,569) |
Operating Expenses | ||
Personnel Costs | (751,608) | (339,390) |
Premises Equipment & Establishment Expenses | (426,541) | (167,739) |
Other Overhead Expenses | (505,894) | (299,221) |
Other Finance Cost | (3,418) | (2,422) |
Total Operating Expenses | (1,687,461) | (808,772) |
Operating profit / ( loss) before VAT | (1,461,058) | (1,011,341) |
Vat on financial services | (30,967) | (3,221) |
Operating profit / (loss) after VAT | (1,492,025) | (1,014,562) |
Tax expenses | - | 103,422 |
Profit / (loss) for the period | (1,492,025) | (911,140) |
Other comprehensive income | - | - |
Total comprehensive income | (1,492,025) | (911,140) |
Inter segment revenue | - | - |
Revenue from external customers | 78,642 | 252,119 |
Segment assets | 9,676,918 | 8,819,086 |
Segment liabilities | 8,885,004 | 8,014,367 |
Real Estate
Twelve months | Twelve months |
ended 31st March | ended 31st March |
2024 | 2023 (Audited) |
Rs. '000' | Rs. '000' |
- | - |
- | - |
- | - |
514 | - |
- | - |
- | - |
- | - |
- | - |
- | - |
514 | - |
- | - |
514 | - |
- | - |
- | - |
- | - |
- | - |
- | - |
514 | - |
- | - |
514 | - |
- | - |
514 | - |
- | - |
514 | - |
- | - |
514 | - |
288,359 | 118,908 |
22,773 | 3,136 |
Nation Lanka Finance PLC
Analysis of Financial Instruments by measurement basis | |||||||||
The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It also includes details relating to non financial assets and liabilities. | |||||||||
Carrying values | Fair value | ||||||||
Company | Rs. '000' | Rs. '000' | |||||||
Fair Value | |||||||||
Fair Value | Through Other | Other | |||||||
Through Profit | Comprehensive | financial | Total carrying | ||||||
As at 31st March 2024 | or Loss | Amortized Cost | Income | liabilities | amount | Level 1 | Level 2 | Level 3 | Total |
Financial assets measured at fair value | |||||||||
Financial Assets Recognized Through Profit or | |||||||||
Loss-Measured at fair value | 70,116 | - | - | - | 70,116 | 70,116 | - | - | 70,116 |
Financial Assets Measured at FVTOCI | - | - | 43,244 | - | 43,244 | - | - | 43,244 | 43,244 |
Investment property | - | - | - | - | - | - | - | 1,496,829 | 1,496,829 |
Financial assets not measured at fair value | |||||||||
Financial Assets Measured at Amortized Cost | |||||||||
- Loans and Advances | - | 4,367,338 | - | - | 4,367,338 | - | - | - | - |
- Debt and Other Instruments | - | 1,189,998 | - | - | 1,189,998 | - | - | - | - |
Trade & Other Receivables | - | 383,266 | - | - | 383,266 | - | - | - | - |
Amounts Due From Related Parties | - | - | - | - | - | - | - | - | - |
Deposits With Licensed Commercial Banks | - | 458,387 | - | - | 458,387 | - | - | - | - |
Cash and Cash Equivalents | - | 247,952 | - | - | 247,952 | - | - | - | - |
70,116 | 6,646,941 | 43,244 | - | 6,760,301 | 70,116 | - | 1,540,073 | 1,610,189 | |
Financial liabilities not measured at fair value | |||||||||
Due to Banks and Financial Institutions | - | - | - | 110,289 | 110,289 | - | - | - | - |
Financial Liabilities at amortized cost-due to depositors | - | - | - | 6,482,709 | 6,482,709 | - | - | - | - |
Amounts Due To Related Parties | - | - | - | 509 | 509 | - | - | - | - |
Other Borrowings | - | - | - | 1,173,705 | 1,173,705 | - | - | - | - |
Trade & Other Payables | - | - | - | 818,914 | 818,914 | - | - | - | - |
- | - | - | 8,586,125 | 8,586,125 | - | - | - | - | |
Carrying values | Fair value | ||||||||
Group | Rs. '000' | Rs. '000' | |||||||
Fair Value | |||||||||
Fair Value | Through Other | Other | |||||||
Through Profit | Comprehensive | financial | Total carrying | ||||||
As at 31st March 2024 | or Loss | Amortized Cost | Income | liabilities | amount | Level 1 | Level 2 | Level 3 | Total |
Financial assets measured at fair value | |||||||||
Financial Assets Recognized Through Profit or | |||||||||
Loss-Measured at fair value | 70,116 | - | - | - | 70,116 | 70,116 | - | - | 70,116 |
Financial Assets Measured at FVTOCI | - | - | 43,244 | - | 43,244 | - | - | 43,244 | 43,244 |
Investment property | - | - | - | - | - | - | - | 1,496,829 | 1,496,829 |
Financial assets not measured at fair value | |||||||||
Financial Assets Measured at Amortized Cost | |||||||||
- Loans and Advances | - | 4,367,338 | - | - | 4,367,338 | - | - | - | - |
- Debt and Other Instruments | - | 1,189,998 | - | - | 1,189,998 | - | - | - | - |
Trade & Other Receivables | - | 383,266 | - | - | 383,266 | - | - | - | - |
Amounts Due From Related Parties | - | - | - | - | - | - | - | - | - |
Deposits With Licensed Commercial Banks | - | 458,387 | - | - | 458,387 | - | - | - | - |
Cash and Cash Equivalents | - | 247,952 | - | - | 247,952 | - | - | - | - |
70,116 | 6,646,941 | 43,244 | - | 6,760,301 | 70,116 | - | 1,540,073 | 1,610,189 | |
Financial liabilities not measured at fair value | |||||||||
Due to Banks and Financial Institutions | - | - | - | 110,289 | 110,289 | - | - | - | - |
Financial Liabilities at amortized cost-due to depositors | - | - | - | 6,482,709 | 6,482,709 | - | - | - | - |
Amounts Due To Related Parties | - | - | - | 509 | 509 | - | - | - | - |
Other Borrowings | - | - | - | 1,173,705 | 1,173,705 | - | - | - | - |
Trade & Other Payables | - | - | - | 818,914 | 818,914 | - | - | - | - |
- | - | - | 8,586,125 | 8,586,125 | - | - | - | - |
Explanatory Notes
Interim Financial Statements
- There are no significant changes in the accounting policies and methods of computation since the publication of financial statements in the annual report for the year 2022/2023.
- The interim financial statements for Twelve months ended 31st March 2024 are drawn up from unaudited accounts of the company , its subsidiary company Nation Micro Investment Ltd .
-
The interim financial statements are in compliance with the Sri Lanka Accounting Standard - LKAS 34:
Interim Financial Reporting and the provisions of the Companies act No 07of 2007 and provide the information as required in terms of Rule 7.4 of the Colombo Stock Exchange. - There have been no material events subsequent to the reporting date , which require adjustments to or disclosures in the interim financial statements.
- Comparative figures and phrases have been re-arranged where ever necessary to conform to the current
year's presentation.
- There was no liability for management fees or any other similar expenditure as at the balance sheet date.
- The company has already engaged with the Lanka Rating Agency and it is inline in the process of obtaining rating for the merger entity with Kanrich Finance Ltd.
- There are no other related party transactions within the interim period other than the repayment of credit facilities mentioned in the Annual Report of 2022/2023.
- The float adjusted market capitalization of the company falls under option V of rule 7.13.1 (a), of the Listing
Rules of the Colombo Stock Exchange and the company has complied with the minimum public holding requirement applicable under the said option.
Total number of shareholders | 14,002 | |
Public holding percentage | 23.21% | |
Total number of public shareholders | 13,999 | |
Float adjusted market capitalization | 649,580,501 | |
Number of shares representing entity's stated capital | 2,798,709,614 | |
10. Information on ordinary shares of the company | ||
Share prices for the period from 1st of January to 31st March 2024 | 2024 | 2023 |
Highest | 0.4 | 0.6 |
Lowest | 0.4 | 0.4 |
31st March | 0.4 | 0.4 |
11. Monetary board of Central Bank of SriLanka has imposed a cap on deposits and lending with effect from 30th September 2019.
Nation Lanka Finance PLC
Top Twenty Shareholders as at 31st March 2024
No | Name of shareholder | No of shares | Percentage |
1 | Singhe Capital Investment Limited | 2,673,696,955 | 38.22 |
2 | Mutual Holdings Limited | 1,733,308,467 | 24.77 |
3 | Mr. V R Ramanan | 965,842,690 | 13.8 |
4 | First Capital Limited | 261,167,368 | 3.73 |
5 | Dunamis Capital PLC | 228,466,987 | 3.27 |
6 | Mr. A J C Senathipathy | 154,835,302 | 2.21 |
7 | DFCC Bank PLC/ Mr. U H Dharmadasa | 129,904,407 | 1.86 |
8 | Ceyoka (Pvt) Ltd | 107,892,355 | 1.54 |
9 | Mr. H K J Dharmadasa | 87,536,211 | 1.25 |
10 | Mrs.T D Sellahewa | 63,914,641 | 0.91 |
11 | Mr. D M Siriwardhana | 46,369,979 | 0.66 |
12 | Mr. D S I Weerasinghe | 46,369,947 | 0.66 |
13 | Mr. J Rudra | 40,352,922 | 0.58 |
14 | Mr. K H Soorasena | 32,257,355 | 0.46 |
15 | Mrs. N D P Jayatunga | 28,370,408 | 0.41 |
16 | Central Investments & Finance PLC | 26,881,118 | 0.38 |
17 | Mrs. Y Tetsuro | 22,580,148 | 0.32 |
18 | Mr. S K Liyanage | 19,488,732 | 0.28 |
19 | Hatton National Bank PLC/Mr. R E Rambukwella | 12,500,000 | 0.18 |
Mr. R E Rambukwella | 347,001 | ||
20 | D M Meegaswatte | 11,324,622 | 0.16 |
6,693,407,615 | 95.65 | ||
Total Number of Shareholders | 14,002 |
Nation Lanka Finance PLC
Directors Shareholding as at 31st March 2024
No. | Name | No of shares | Percentage |
1 | Mr. V R RAMANAN | 965,842,690 | 13.8 |
2 | Mr. A G M PRIYANTHA | - | - |
3 | Mrs. S A WICKRAMASINGHE | - | - |
4 | Mrs. K G D W K BANDARA | - | - |
5 | Mr. N W M GUNAWANSHA | ||
6 | Mr. U R SENEVIRATHNE | ||
7 | Mrs. L M M JAYAWICKREMA |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Nation Lanka Finance plc published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 12:09:34 UTC.