Singhe Hospitals : Quarterly Financial Statements as of 30 June 2022

FINANCIAL STATEMENTS

FOR THE QUARTER ENDED

30th June 2022

SINGHE HOSPITALS PLC

(PB 70371 PQ)

Singhe Hospitals PLC

INCOME STATEMENT & STATEMENT OF OTHER COMPREHENSIVE INCOME

Period Ended 30th June 2022

	30-Jun-2022		30-Jun-2021	Variance	Variance
	Rs.		Rs.	Rs.	%
	Not Audited		Not Audited
Revenue	220,848,011	249,213,418	(28,365,407)	(11. 4 %)
Cost of Services	(82,529,010)	(128,082,494)	(45,553,484)	(35. 6 %)
Gross Profit				17,188,077	14.	2 %
138,319,001		121,130,924
Other Income and Gains	552,386	7,632	544,754	7137.	8 %
Administrative Expenses	(121,215,478)	(104,187,405)	17,028,073	16.	3 %
Other Operating Expenses	(11,108,493)	(9,560,380)	1,548,113	16.	2 %
Finance Cost	(12,358,854)	(7,269,732)	5,089,122	70.	0 %
Profit Before Tax				(5,932,478)	(4901. 3 %)
(5,811,439)		121,039
Income Tax	(142,786)	-	142,786
Profit for the Year				(6,075,263)	(5019. 3 %)
(5,954,224)	121,039
Total Comprehensive Income/ (Loss) for the Year
(5,954,224)	121,039
Earnings Per Share - Basic	(0.01)	0.00

2

Singhe Hospitals PLC

STATEMENT OF FINANCIAL POSITION

As at 30th June 2022

	30-Jun-2022		30-Jun-2021
ASSETS	Rs.		Rs.
	Not Audited		Not Audited
Non-Current Assets
Property, Plant and Equipment	738,894,938	727,992,495
Right of Use Assets	60,356,047	50,632,720
Intangible Assets	6,754,116	7,758,997
	806,005,101		786,384,212
Current Assets
Inventories	83,404,226	66,054,625
Trade and Other Receivables	40,813,759	49,535,611
Financial Investments	20,720	18,405
Income Tax Recoverable	1,220,639	3,554,985
Cash and Bank Balances	16,547,996	26,653,749
	142,007,340		145,817,375
Total Assets	948,012,441		932,201,588
EQUITY AND LIABILITIES
Capital and Reserves
Stated Capital	375,000,000	375,000,000
Capital Reserves	109,774,781	108,332,429
Retained Earnings	3,637,085	(6,700,438)
Total Equity	488,411,866		476,631,991
Non-Current Liabilities
Interest Bearing Loans and Borrowings	202,127,925	161,804,543
Lease Liability	30,422,483	26,499,966
Deferred Tax Liabilities	71,250,071	75,476,229
Retirement Benefit Obligations	9,615,140	10,694,668
	313,415,619		274,475,406
Current Liabilities
Trade and Other Payables	22,019,142	24,938,402
Interest Bearing Loans and Borrowings	53,192,234	69,470,738
Amounts Due to Related Parties	672,111	1,672,102
Lease Liability	14,829,944	19,011,496
Bank Overdrafts	55,471,525	66,001,454
	146,184,956		181,094,191
Total Equity and Liabilities	948,012,441		932,201,588
Net Assets Per Share	1.13	1.11

The above figures are provisional & subject to audit.

It is certified that the Financial Statements have been prepared in accordance with the requirements of the Companies Act No.7 of 2007.

Asanka De Silva

Finance Manager

The Board of Directors are responsible for the preparation and presentation of these Financial Statements. Approved & Signed on behalf of the Board.

Navinda Weerasinghe	Lakshika Weerasinghe
Managing Director	Director
09.08.2022
Rathnapura

3

Singhe Hospitals PLC

STATEMENT OF CHANGES IN EQUITY

Period Ended 30th June 2022

	Stated		Revaluation		Gain / ( Loss) on		Retained
	Capital		Reserves		Defined Benefit Plan		Earnings		Total
	Rs.		Rs.		Rs.		Rs.		Rs.
Balance as at 01st April, 2021	375,000,000	106,242,881	2,089,548	(6,821,476)	476,510,953
Profit for the Period	-	-	-	121,039	121,039
Balance as at 30th June, 2021
375,000,000	106,242,881	2,089,548	(6,700,437)	476,631,992
Profit for the Period						16,291,744	16,291,744
Other Comprehensive Income	-			1,677,154	-	1,677,154
Deferred Tax Impact on Actuarial Gain/(Loss)				(234,802)			(234,802)
Deferred Tax on Revaluation								-
Deferred Tax Charge on Revaluation Due to								-
Changes in Income Tax Rate
Balance as at 31st March, 2022	375,000,000		106,242,881		3,531,900		9,591,307		494,366,088
Profit for the Period						(5,954,222)	(5,954,222)
Balance as at 30th June, 2022
375,000,000	106,242,881	3,531,900	3,637,085	488,411,866

4

Singhe Hospitals PLC

CASH FLOW STATEMENT

Year Ended 30th June 2022

	30-Jun-2022		30-Jun-2021
Cash Flows From Operating Activities	Rs.		Rs.
Profit Before Income Tax Expense	(5,811,439)	121,039
Adjustments for
Depreciation & Amortization	20,464,425	19,485,408
Provision for Retirement Gratuity	578,560	450,000
Finance Expense	13,674,150	7,269,732
Interest Income	(5,930)	(1,710)
Operating Profit Before Working Capital Changes
28,899,766		27,324,469
Changes in Working Capital
(Increase)/Decrease in Inventories	1,545,759	1,831,649
(Increase)/Decrease in Trade and Other Receivables	(2,190,104)	(75,224)
Increase/(Decrease) in Trade and Other Payables	(16,037,124)		473,506
Cash Generated From Operations	12,218,297	29,554,400
Finance Costs Paid	(13,674,150)		(6,059,205)
Defined Benefit Plan Costs Paid	(1,018,688)	(166,100)
Net Cash From Operating Activities	(2,474,540)		23,329,095
Cash Flows From/(Used in) Investing Activities
Acquisition of Property, Plant and Equipment	(10,160,759)	(2,037,419)
Acquisition of Capital Work in Progress	(889,740)	(253,013)
Acquisition of Intangible Assets	-	(275,000)
Income From Investments - Interest Received	5,930	1,710
Net Cash Flows From/(Used in) Investing Activities	(11,044,569)		(2,563,722)
Cash Flows from /(Used in) Financing Activities
Proceeds from Interest Bearing Borrowings	44,264,822	-
Repayments from Interest Bearing Borrowings	(23,971,767)	(10,489,650)
Proceeds from Leases	1,315,296	-
Repayments of Leases Liability	(8,672,126)		(6,673,552)
Net Cash Flows from/(Used in) Financing Activities	12,936,226		(17,163,202)
Net Increase/(Decrease) in Cash and Cash Equivalents	(582,884)	3,602,171
Cash and Cash Equivalents at the Beginning of the Year	(38,340,663)		(42,949,875)
Cash and Cash Equivalents at the End of the Year	(38,923,547)	(39,347,706)
Cash & Cash Equivalents
Cash at Bank	3,311,938	1,012,389
Bank Overdrafts	(55,471,525)	(66,001,454)
Cash in Hand	13,236,058		25,641,360
Cash and Cash Equivalents at the End of the Year	(38,923,547)	(39,347,706)

5