Financial Statements
for the Year Ended
31st March 2024
Alliance Finance Company PLC
Statement of Profit or Loss - Company
For the Quarter ended | For the Year ended | |||||||
For the period ended 31st March | 2024 | 2023 | 2024 | 2023 | ||||
(Unaudited) | (Unaudited) | Variance | (Unaudited) | ( Audited ) | Variance | |||
LKR | LKR | % | LKR | LKR | % | |||
Gross Income | 3,784,933,531 | 3,267,170,438 | 16 | 13,926,094,250 | 12,420,568,123 | 12 | ||
Interest income | 3,505,780,158 | 3,172,322,070 | 11 | 13,184,634,453 | 11,946,843,634 | 10 | ||
Interest expenses | (1,627,920,543) | (2,202,059,600) | 26 | (7,297,688,560) | (7,411,342,695) | 2 | ||
Net Interest Income | 1,877,859,615 | 970,262,470 | 94 | 5,886,945,893 | 4,535,500,939 | 30 | ||
Fee and commission income | 102,159,873 | 55,250,771 | 85 | 318,390,667 | 182,764,216 | 74 | ||
Net gain/(loss) from trading | (39,927,295) | (13,480,534) | (196) | (22,928,907) | 16,315,769 | (241) | ||
Other operating income (net) | 216,920,795 | 53,078,131 | 309 | 445,998,037 | 274,644,504 | 62 | ||
Total Operating Income | 2,157,012,988 | 1,065,110,838 | 103 | 6,628,405,690 | 5,009,225,428 | 32 | ||
Impairment (charges) / reversal for loans and other | 47,128,742 | 240,813,574 | (80) | (335,708,297) | (274,638,036) | (22) | ||
losses | ||||||||
Net Operating Income | 2,204,141,730 | 1,305,924,412 | 69 | 6,292,697,393 | 4,734,587,392 | 33 | ||
Operating Expenses | ||||||||
Personnel expenses | (493,218,575) | (341,254,139) | (45) | (1,604,634,943) | (1,219,117,857) | (32) | ||
Other operating expenses | (660,664,920) | (407,874,812) | (62) | (2,170,173,504) | (2,004,309,715) | (8) | ||
Depreciation and amortization | (44,902,966) | (41,809,155) | (7) | (169,449,679) | (162,069,603) | (5) | ||
Total operating expenses | (1,198,786,461) | (790,938,106) | (52) | (3,944,258,126) | (3,385,497,175) | (17) | ||
Operating Profit before Taxes on Financial Services | 1,005,355,269 | 514,986,306 | 95 | 2,348,439,267 | 1,349,090,217 | 74 | ||
Taxes on financial services | (292,919,930) | (129,193,611) | (127) | (668,603,605) | (419,432,886) | (59) | ||
Operating Profit after Taxes on Financial Services | 712,435,339 | 385,792,695 | 85 | 1,679,835,662 | 929,657,331 | 81 | ||
Share of profit/(loss) from associates | (2,932,714) | (8,850,202) | 67 | 18,031,098 | 21,068,498 | (14) | ||
Profit before Taxation from Operations | 709,502,625 | 376,942,493 | 88 | 1,697,866,760 | 950,725,829 | 79 | ||
Provision for income taxation | (285,186,880) | (124,206,381) | (130) | (780,987,408) | (445,801,882) | (75) | ||
Profit for the Period | 424,315,745 | 252,736,112 | 68 | 916,879,352 | 504,923,947 | 82 | ||
Basic/ Diluted earnings per share | 12.59 | 7.50 | 27.21 | 14.98 | ||||
Dividend Per Share paid | - | - | 5.00 | 8.00 |
1
Alliance Finance Company PLC
Statement of Profit or Loss - Group
For the Quarter ended | For the Year ended | |||||||
For the period ended 31st March | 2024 | 2023 | 2024 | 2023 | ||||
(Unaudited) | (Unaudited) | Variance | (Unaudited) | ( Audited ) | Variance | |||
LKR | LKR | % | LKR | LKR | % | |||
Gross Income | 3,823,201,959 | 3,305,095,072 | 16 | 14,063,875,468 | 12,525,096,443 | 12 | ||
Interest income | 3,506,881,388 | 3,178,368,025 | 10 | 13,200,296,688 | 11,959,844,861 | 10 | ||
Interest expenses | (1,627,960,151) | (2,196,335,156) | 26 | (7,286,440,505) | (7,395,214,020) | 1 | ||
Net Interest Income | 1,878,921,237 | 982,032,869 | 91 | 5,913,856,183 | 4,564,630,841 | 30 | ||
Fee and commission income | 125,268,898 | 81,983,021 | 53 | 413,481,566 | 272,637,751 | 52 | ||
Net gain/(loss) from trading | (41,981,152) | (17,929,001) | (134) | (24,710,704) | 13,779,786 | (279) | ||
Other operating income (net) | 233,032,825 | 62,673,027 | 272 | 474,807,918 | 278,834,045 | 70 | ||
Total Operating Income | 2,195,241,808 | 1,108,759,916 | 98 | 6,777,434,963 | 5,129,882,423 | 32 | ||
Impairment (charges) / reversal for loans and other losses | 47,128,741 | 240,813,574 | (80) | (335,708,297) | (274,638,036) | (22) | ||
Net Operating Income | 66 | 33 | ||||||
2,242,370,549 | 1,349,573,490 | 6,441,726,666 | 4,855,244,387 | |||||
Operating Expenses | ||||||||
Personnel expenses | (495,563,810) | (344,145,494) | (44) | (1,618,466,326) | (1,231,220,988) | (31) | ||
Other operating expenses | (656,064,846) | (415,559,344) | (58) | (2,180,701,749) | (2,020,716,220) | (8) | ||
Depreciation and amortization | (45,078,367) | (41,979,642) | (7) | (170,136,539) | (162,752,147) | (5) | ||
Total operating expenses | (1,196,707,023) | (801,684,480) | (49) | (3,969,304,614) | (3,414,689,355) | (16) | ||
Operating Profit before Taxes on Financial Services | 1,045,663,526 | 547,889,010 | 91 | 2,472,422,052 | 1,440,555,032 | 72 | ||
Taxes on financial services | (292,919,930) | (129,193,611) | (127) | (668,603,605) | (419,432,886) | (59) | ||
Operating Profit after Taxes on Financial Services | 752,743,596 | 418,695,399 | 80 | 1,803,818,447 | 1,021,122,146 | 77 | ||
Share of profit/(loss) from associates | (2,932,714) | (8,850,202) | 67 | 18,031,098 | 21,068,498 | (14) | ||
Profit before Taxation from Operations | 749,810,882 | 409,845,197 | 83 | 1,821,849,545 | 1,042,190,644 | 75 | ||
- | - | |||||||
Provision for income taxation | (294,003,855) | (139,712,393) | (110) | (813,288,033) | (482,740,665) | (68) | ||
Profit for the Period | 455,807,027 | 270,132,804 | 69 | 1,008,561,512 | 559,449,979 | 80 | ||
Profit attributable to : | ||||||||
Equity holders of the Company | 444,451,272 | 263,859,594 | 68 | 975,500,926 | 532,796,274 | 83 | ||
Non controlling interest | 11,355,755 | 6,273,210 | 81 | 33,060,586 | 26,653,705 | 24 | ||
Profit for the Period | 455,807,027 | 270,132,804 | 69 | 1,008,561,512 | 559,449,979 | 80 | ||
Basic/ Diluted earnings per share | 13.19 | 7.83 | 28.95 | 15.81 | ||||
Dividend Per Share paid | - | - | 5.00 | 8.00 |
2
Alliance Finance Company PLC
Statement of Comprehensive Income - Company
For the Quarter ended | For the Year ended | |||||||
For the period ended 31st March | 2024 | 2023 | 2024 | 2023 | ||||
(Unaudited) | (Unaudited) | Variance | (Unaudited) | ( Audited ) | Variance | |||
LKR | LKR | % | LKR | LKR | % | |||
Profit for the period | 424,315,745 | 270,132,804 | 57 | 916,879,352 | 504,923,947 | 82 | ||
Other Comprehensive Income | ||||||||
Other Comprehensive Income not to be | ||||||||
Reclassified to Profit or Loss | ||||||||
Actuarial gains /( losses ) on defined benefit plans | 15,519,237 | 69,304,725 | (78) | 15,519,237 | 69,304,725 | (78) | ||
Deferred tax effect on above | (4,655,771) | (20,791,418) | 78 | (4,655,771) | (20,791,418) | 78 | ||
Surplus from revaluation of property, plant & | 529,154,857 | - | - | - | ||||
equipment | 529,154,857 | - | ||||||
Deferred tax effect on land | (90,269,862) | - | - | (90,269,862) | - | - | ||
Deferred tax effect on building | (68,476,595) | - | - | (68,476,595) | - | - | ||
Equity investments at FVOCI -net change in fair | 21,690,148 | 14,795,420 | 47 | 41,220,588 | (7,105,330) | 680 | ||
value & realized profit/ (loss) to retained earnings | ||||||||
Net Other Comprehensive Income not be | ||||||||
402,962,014 | 63,308,727 | 537 | 422,492,454 | 41,407,977 | 920 | |||
Classified to Profit or Loss | ||||||||
Total Comprehensive Income for the period | 827,277,759 | 333,441,530 | 148 | 1,339,371,806 | 546,331,924 | 145 | ||
3
Alliance Finance Company PLC
Statement of Comprehensive Income - Group
For the period ended 31st March
Profit for the period
Other Comprehensive Income
Other Comprehensive Income not to be Reclassified to Profit or Loss
For the Quarter ended | For the Year ended | ||||||
2024 | 2023 | 2024 | 2023 | ||||
(Unaudited) | (Unaudited) | Variance | (Unaudited) | ( Audited ) | Variance | ||
LKR | LKR | % | LKR | LKR | % | ||
455,807,027 | 270,132,804 | 69 | 1,008,561,512 | 559,449,979 | 80 | ||
Actuarial gains /( losses ) on defined benefit | (80) | |||||||
plans | 14,130,047 | 70,635,125 | 14,130,047 | 70,635,125 | (80) | |||
Deferred tax effect on above | (4,655,771) | (20,791,418) | 78 | (4,655,771) | (20,791,418) | 78 | ||
Surplus from revaluation of property, plant & | - | - | - | |||||
equipment | 529,154,857 | - | 529,154,857 | |||||
Deferred tax effect on land | (90,269,862) | - | - | (90,269,862) | - | - | ||
Deferred tax effect on building | (68,476,595) | - | - | (68,476,595) | - | - | ||
Equity investments at FVOCI -net change in fair | ||||||||
value & realized profit/ (loss) to retained | 21,690,148 | 14,795,420 | 47 | 41,220,588 | (7,105,330) | 680 | ||
earnings | ||||||||
Net Other Comprehensive Income not be | ||||||||
Classified to Profit or Loss | 401,572,824 | 64,639,127 | 521 | 421,103,264 | 42,738,377 | 885 | ||
Total Comprehensive Income for the period | 857,379,851 | 334,771,931 | 156 | 1,429,664,776 | 602,188,356 | 137 | ||
Attributable to: | ||||||||
Equity holders of the company | 846,024,096 | 388,390,213 | 118 | 1,396,604,190 | 575,534,615 | 143 | ||
Non controlling interest | 11,355,755 | (53,618,283) | (121) | 33,060,586 | 26,653,741 | 24 | ||
Total Comprehensive Income for the period | 857,379,851 | 334,771,931 | 156 | 1,429,664,776 | 602,188,356 | 137 | ||
4
Company | Group | |||||||
As at | 31.03.2024 | 31.03.2023 | Variance | 31.03.2024 | 31.03.2023 | Variance | ||
LKR | LKR | % | LKR | LKR | % | |||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | |||||
Assets | ||||||||
Cash and cash equivalents | 1,037,507,757 | 566,946,383 | 83 | 1,136,828,171 | 624,723,130 | 82 | ||
Repurchase agreements | 962,606,909 | 250,154,110 | 285 | 962,606,909 | 250,154,110 | 285 | ||
Placements with banks & financial institutions | 3,246,352,935 | 4,905,611,281 | (34) | 3,383,898,083 | 4,919,075,748 | (31) | ||
Financial assets recognised through profit or loss | 3,508,968,758 | 3,130,690,272 | 12 | 3,508,968,758 | 3,130,690,272 | 12 | ||
Loans and advances - at amortised cost | 23,506,870,064 | 17,449,867,823 | 35 | 23,506,870,064 | 17,449,867,823 | 35 | ||
Lease rentals receivable & stock out on hire - at amortised cost | 22,597,190,332 | 21,552,425,839 | 5 | 22,597,190,332 | 21,552,425,839 | 5 | ||
Financial assets- fair value through other comprehensive income | 317,703,694 | 182,705,621 | 74 | 317,703,694 | 182,705,621 | 74 | ||
Other trading stocks | 85,653,478 | 59,653,942 | 44 | 85,653,478 | 59,653,942 | 44 | ||
Other financial assets | 458,631,541 | 415,454,128 | 10 | 450,152,849 | 417,933,228 | 8 | ||
Other non financial assets | 257,537,354 | 173,787,786 | 48 | 265,196,987 | 174,283,305 | 52 | ||
Investments in associates | 110,332,180 | 70,906,846 | 56 | 128,484,547 | 97,412,381 | 32 | ||
Investments in subsidiaries | 16,924,038 | 16,924,038 | - | - | - | - | ||
Investment property | 187,680,000 | 163,200,000 | 15 | 295,680,000 | 253,200,000 | 17 | ||
Property, plant & equipment | 3,202,649,652 | 2,595,446,980 | 23 | 3,202,950,925 | 2,596,074,215 | 23 | ||
Intangible assets | 147,087,856 | 139,188,404 | 6 | 147,169,590 | 139,461,804 | 6 | ||
Right of use asset | 356,347,453 | 365,346,690 | (2) | 356,347,453 | 365,346,690 | (2) | ||
Deferred tax assets | 174,526,137 | 209,616,678 | (17) | 175,796,752 | 210,498,249 | (16) | ||
Total Assets | 60,174,570,138 | 52,247,926,821 | 15 | 60,521,498,592 | 52,423,506,357 | 15 | ||
Liabilities | ||||||||
Due to banks | 20,310,185,391 | 22,571,002,700 | (10) | 20,310,185,391 | 22,571,002,700 | (10) | ||
Due to depositors - at amortised cost | 28,387,365,249 | 20,475,847,835 | 39 | 28,386,553,614 | 20,390,703,071 | 39 | ||
Other financial liabilities | 1,129,788,583 | 522,582,852 | 116 | 1,159,602,656 | 558,574,175 | 108 | ||
Other non financial liabilities | 219,237,671 | 87,430,046 | 151 | 219,237,671 | 88,295,195 | 148 | ||
Derivative financial liabilities | 5,379,033 | 36,175,016 | (85) | 5,379,033 | 36,175,016 | (85) | ||
Income tax liabilities | 928,513,196 | 708,410,305 | 31 | 938,772,455 | 722,146,198 | 30 | ||
Retirement benefit liabilities | 52,103,008 | 48,489,232 | 7 | 56,338,393 | 50,962,873 | 11 | ||
Deferred tax liabilities | 663,298,289 | 478,434,654 | 39 | 668,778,398 | 478,434,654 | 40 | ||
Lease Liability | 349,669,732 | 361,416,001 | (3) | 349,669,731 | 361,416,001 | (3) | ||
Total Liabilities | 52,045,540,152 | 45,289,788,641 | 15 | 52,094,517,342 | 45,257,709,883 | 15 | ||
Shareholders' Funds | ||||||||
Stated capital | 613,980,000 | 613,980,000 | - | 613,980,000 | 613,980,000 | - | ||
Retained earnings | 4,509,940,679 | 3,761,997,661 | 20 | 4,675,362,989 | 3,870,187,587 | 21 | ||
Reserves | 3,005,109,307 | 2,582,160,519 | 16 | 3,005,109,307 | 2,582,160,519 | 16 | ||
Total Equity Attributable to Equity Holders of the Company | 8,129,029,986 | 6,958,138,180 | 17 | 8,294,452,296 | 7,066,328,106 | 17 | ||
Non controlling interest | - | - | - | 132,528,954 | 99,468,368 | 33 | ||
Total Equity | 8,129,029,986 | 6,958,138,180 | 17 | 8,426,981,250 | 7,165,796,474 | 18 | ||
Total Liabilities and Shareholders' Funds | ||||||||
60,174,570,138 | 52,247,926,821 | 15 | 60,521,498,592 | 52,423,506,357 | 15 | |||
- | - | - | - | |||||
Contingent Liabilities and Commitments | 820,666,741 | 857,880,137 | 820,666,741 | 857,880,137 | ||||
Net assets value per share (LKR) | 241 | 206 | 246 | 210 |
Accounting policies & notes to the accounts form an integral part of these Financial Statements.
Certification
I certify that these Financial Statements are presented in compliance with the requirements of the Companies Act No. 07 of 2007.
W.A.D.D. Tillekeratne | W.P.K Jayawardane | R. K. E.P de Silva |
Chief Financial Officer | Deputy Managing Director | Deputy Chairman & Managing Director |
30-May-24 Colombo
5
Alliance Finance Company PLC
Statement of Changes in Equity
Company | Stated Capital | Statutory Reserve | Revaluation Reserve | General Reserve | FVOCI | Non Controlling | Retained Earnings | Total | ||||
Fund | Interest | |||||||||||
LKR | LKR | LKR | LKR | LKR | LKR | LKR | LKR | |||||
Balance as at 1st April 2022 (Audited) | 613,980,000 | 977,236,040 | 1,223,390,151 | 388,258,055 | (21,728,358) | - | 3,500,238,368 | 6,681,374,256 | ||||
Profit for the period | - | - | - | - | - | - | 504,923,947 | 504,923,947 | ||||
Other comprehensive income, net of tax | ||||||||||||
Net actuarial gain/(loss) on defined benefit plan | - | - | - | - | - | - | 48,513,307 | 48,513,307 | ||||
Equity investments at FVOCI - net change in fair value & | ||||||||||||
Disposal profit | - | - | - | - | (7,105,330) | - | - | (7,105,330) | ||||
Transfer of realized profit on equity instrument disposal to | ||||||||||||
retained earning | - | - | - | - | (3,136,236) | - | 3,136,236 | - | ||||
Transfer to statutory reserve | - | 25,246,197 | - | - | - | - | (25,246,197) | - | ||||
Dividend paid | - | - | - | - | - | - | (269,568,000) | (269,568,000) | ||||
Balances as at 31st March 2023 | 613,980,000 | 1,002,482,237 | 1,223,390,151 | 388,258,055 | (31,969,924) | - | 3,761,997,661 | 6,958,138,180 | ||||
Balance as at 1st April 2023 (Audited) | 613,980,000 | 1,002,482,237 | 1,223,390,151 | 388,258,055 | (31,969,924) | - | 3,761,997,661 | 6,958,138,180 | ||||
Profit for the period | - | - | - | - | - | - | 916,879,352 | 916,879,352 | ||||
Other comprehensive income, net of tax | ||||||||||||
Net actuarial gain/(loss) on defined benefit plan | - | - | - | - | - | - | 10,863,466 | 10,863,466 | ||||
Equity investments at FVOCI - net change in fair value & | ||||||||||||
Disposal profit | - | - | - | - | 41,220,588 | - | - | 41,220,588 | ||||
Transfer of realized profit on equity instrument disposal to | - | - | - | - | (34,524,168) | - | 34,524,168 | - | ||||
retained earning | ||||||||||||
Revaluation Surplus | - | - | 370,408,400 | - | - | - | - | 370,408,400 | ||||
Transfer to statutory reserve | - | 45,843,968 | - | - | - | (45,843,968) | - | |||||
Dividend paid | - | - | - | - | - | - | (168,480,000) | (168,480,000) | ||||
Balances as at 31st March 2024 | 613,980,000 | 1,048,326,205 | 1,593,798,551 | 388,258,055 | (25,273,504) | - | 4,509,940,679 | 8,129,029,986 |
6
Alliance Finance Company PLC
Statement of Changes in Equity
Group | ||||||||||||
Stated Capital | Statutory Reserve | Revaluation Reserve | General Reserve | FVOCI | Non Controlling | Retained Earnings | Total | |||||
Fund | Interest | |||||||||||
LKR | LKR | LKR | LKR | LKR | LKR | LKR | LKR | |||||
Balance as at 1st April 2022 (Audited) | 613,980,000 | 977,236,040 | 1,223,390,151 | 388,258,055 | (21,728,358) | 72,478,808 | 3,588,577,822 | 6,842,192,518 | ||||
Profit for the period | - | - | - | - | - | 26,653,741 | 532,796,238 | 559,449,979 | ||||
Other comprehensive income, net of tax - | ||||||||||||
Net actuarial gain/(loss) on defined benefit plan | - | - | - | - | - | 335,819 | 49,507,888 | 49,843,707 | ||||
Equity investments at FVOCI - net change in fair value & | ||||||||||||
Disposal profit | - | - | - | - | (7,105,330) | - | - | (7,105,330) | ||||
Transfer of realized profit on equity instrument disposal to | ||||||||||||
retained earning | - | - | - | - | (3,136,236) | - | 3,136,236 | - | ||||
Transfer to statutory reserve | - | 25,246,197 | - | - | - | - | (25,246,197) | - | ||||
Dividend paid | - | - | - | - | - | - | (278,584,400) | (278,584,400) | ||||
Balances as at 31st March 2023 | 613,980,000 | 1,002,482,237 | 1,223,390,151 | 388,258,055 | (31,969,924) | 99,468,368 | 3,870,187,587 | 7,165,796,474 | ||||
Balance as at 1st April 2023 (Audited) | 613,980,000 | 1,002,482,237 | 1,223,390,151 | 388,258,055 | (31,969,924) | 99,468,368 | 3,870,187,587 | 7,165,796,474 | ||||
Profit for the period | - | - | - | - | - | 33,060,586 | 975,500,926 | 1,008,561,512 | ||||
Other comprehensive income, net of tax - | ||||||||||||
Net actuarial gain/(loss) on defined benefit plan | - | - | - | - | - | - | 9,474,276 | 9,474,276 | ||||
Equity investments at FVOCI - net change in fair value & | ||||||||||||
Disposal profit | - | - | - | - | 41,220,588 | - | - | 41,220,588 | ||||
Transfer of realized profit on equity instrument disposal to | ||||||||||||
retained earning | - | - | - | - | (34,524,168) | - | 34,524,168 | - | ||||
Revaluation Surplus | - | - | 370,408,400 | - | - | - | - | 370,408,400 | ||||
Transfer to statutory reserve | - | 45,843,968 | - | - | - | - | (45,843,968) | - | ||||
Dividend paid | - | - | - | - | - | - | (168,480,000) | (168,480,000) | ||||
Balances as at 31st March 2024 | 613,980,000 | 1,048,326,205 | 1,593,798,551 | 388,258,055 | (25,273,504) | 132,528,954 | 4,675,362,989 | 8,426,981,250 |
Figures in brackets indicate deductions.
Accounting policies & notes to accounts form an integral part of these Financial Statements.
7
Alliance Finance Company PLC
STATEMENTS OF CASH FLOWS
For the year ended 31st March
Company | Group | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Cash Flows From / (Used in) Operating Activities | LKR | LKR | LKR | LKR | ||||
Profit before Income Tax Expense | 1,697,866,760 | 950,725,829 | 1,821,849,545 | 1,042,190,644 | ||||
Adjustments for; | ||||||||
Depreciation of property, plant & equipment | 158,683,135 | 150,711,053 | 159,178,329 | 151,201,931 | ||||
Amortization of intangible assets | 10,766,544 | 11,358,550 | 10,958,210 | 11,550,216 | ||||
Amortization of right of use asset | 128,590,164 | 127,702,817 | 128,590,164 | 127,702,817 | ||||
Interest expense on lease liability | 45,325,284 | 44,022,441 | 45,325,284 | 44,022,441 | ||||
Impairment provision /(reversal) | 106,846,334 | 40,334,682 | 106,846,334 | 40,334,682 | ||||
Interest on fixed deposits, commercial paper & treasury bills | (405,447,590) | (243,766,340) | (421,109,825) | (256,767,567) | ||||
Fair value gain on investments (FVTPL) | (7,172,338) | - | (7,172,338) | - | ||||
Fair value gain on investment property | (24,480,000) | (3,609,900) | (42,480,000) | (7,949,484) | ||||
Bad debt written-off | 228,861,963 | 234,303,354 | 228,861,963 | 234,303,354 | ||||
Diminution/(appreciation) in value of treasury bonds | - | 2,753,591 | - | 2,753,591 | ||||
Loss/(profit) on disposal of property, plant & equipment | (78,391,610) | (12,652,649) | (78,391,610) | (12,652,649) | ||||
Loss/(profit)from sale of vehicle | (43,035,311) | 3,122,258 | (43,035,311) | 3,122,258 | ||||
Loss/(profit) on disposal of real estates | (4,503,313) | (9,105,101) | (4,503,313) | (9,105,101) | ||||
Provision for defined benefit plans | 59,869,919 | 64,321,756 | 60,563,055 | 65,228,272 | ||||
Dividend received | (12,264,186) | (29,789,738) | (19,219,784) | (20,174,158) | ||||
Share of (profit) from associates | (18,031,098) | (21,068,498) | (18,031,098) | (21,068,498) | ||||
Operating Profit before Working Capital Changes | 1,843,484,657 | 1,309,364,105 | 1,928,229,605 | 1,394,692,749 | ||||
(Increase)/decrease in trading stock | 21,539,088 | 53,647,645 | 21,539,088 | 53,647,645 | ||||
(Increase)/decrease in loans and advances | (6,123,554,883) | (2,602,720,732) | (6,123,554,884) | (2,602,720,732) | ||||
(Increase)/decrease in lease rentals receivable | (1,314,894,396) | 3,627,297,790 | (1,314,894,397) | 3,627,297,790 | ||||
(Increase)/decrease in hire purchase rentals receivable | 974,249 | 10,858 | 974,249 | 10,858 | ||||
(Increase)/decrease in fixed deposits & repurchase agreements | 946,805,547 | (4,617,840,183) | 822,724,866 | (4,631,304,650) | ||||
(Increase)/decrease in other financial assets | (43,177,413) | 220,886,321 | (32,219,621) | 212,723,365 | ||||
(Increase)/decrease in other non financial assets | 65,518,508 | 133,102,711 | 58,354,394 | 89,060,073 | ||||
(Increase)/decrease in derivative financial liabilities | (30,795,983) | 119,098,210 | (30,795,983) | 119,098,210 | ||||
Increase/(decrease) in amounts due to depositors | 7,911,517,414 | 5,794,472,153 | 7,995,850,543 | 5,709,327,388 | ||||
Increase/(decrease) in other financial liabilities | 550,134,178 | (830,273,099) | 543,956,927 | (784,818,486) | ||||
Increase/(decrease) in other non financial liabilities | 131,807,625 | (96,676,127) | 130,942,477 | (95,810,979) | ||||
Cash generated from/(used in) Operations | 3,959,358,591 | 3,110,369,652 | 4,001,107,264 | 3,091,203,231 | ||||
Retirement benefit liabilities paid | (40,736,908) | (27,744,250) | (40,736,908) | (27,744,250) | ||||
Investment in gratuity fund | - | (40,212,220) | - | (40,212,220) | ||||
Taxes paid | (504,332,568) | (655,567,767) | (535,339,343) | (676,481,543) | ||||
Net cash generated from/(used in) operating activities | 3,414,289,115 | 2,386,845,415 | 3,425,031,013 | 2,346,765,218 | ||||
Cash Flows from Investing Activities | ||||||||
Acquisition of property, plant & equipment | (305,167,340) | (249,592,489) | (305,336,572) | (249,592,489) | ||||
Acquisition of right of use assets | (119,590,927) | (17,326,000) | (119,590,927) | (17,326,000) | ||||
Acquisition of Intangible Assets | (18,665,996) | (23,831,523) | (18,665,996) | (23,831,523) | ||||
Investment in associates | (21,394,236) | - | (13,041,068) | |||||
Proceeds from sales of property, plant & equipment | 146,828,000 | 18,411,350 | 146,828,000 | 18,411,350 | ||||
Proceeds from sales of vehicles | - | 262,252,000 | - | 262,252,000 | ||||
Proceeds from sales of real estates | - | 22,955,000 | - | 22,955,000 | ||||
Net sales/ (purchases) of financial investments -FVTPL/FVOCI | (464,883,633) | (1,636,253,705) | (464,883,633) | (1,636,253,705) | ||||
Dividend received | 12,264,186 | 29,789,738 | 19,219,784 | 20,174,158 | ||||
Interest on fixed deposits, commercial paper & treasury bills | 405,447,590 | 243,766,340 | 421,109,825 | 256,767,567 | ||||
Net cash generated from / (used in) investing activities | (365,162,356) | (1,349,829,289) | (334,360,587) | (1,346,443,642) | ||||
Cash flows from / (used in) financing activities | ||||||||
Settlement of operating Lease liabilities | (149,268,076) | (140,943,853) | (149,268,076) | (140,943,853) | ||||
Increase/(decrease) in borrowed funds | - | (867,759,553) | - | (867,759,553) | ||||
Net increase /(decrease) in other borrowings | (62,413,959) | (3,140,673,013) | (62,413,959) | (3,140,673,013) | ||||
Dividend paid | (168,480,000) | (269,568,000) | (168,480,000) | (278,584,400) | ||||
Net cash generated from/(used in) financing activities | (380,162,035) | (4,418,944,419) | (380,162,035) | (4,427,960,819) | ||||
Net increase/(decrease) in cash and cash equivalents | 2,668,964,724 | (3,381,928,293) | 2,710,508,391 | (3,427,639,242) | ||||
Cash and cash equivalents at the beginning of the year | (2,952,136,234) | 429,792,059 | (2,894,359,487) | 533,279,755 | ||||
Cash and cash equivalents at the end of the year | (283,171,510) | (2,952,136,234) | (183,851,096) | (2,894,359,487) | ||||
Movement in Cash and Cash Equivalent | 2,668,964,724 | (3,381,928,293) | 2,710,508,391 | (3,427,639,242) | ||||
Note : Reporting cash flows from operating activities
The Company reports cash flows from operating activities by using the indirect method. The indirect method - whereby profit or loss is adjusted for the effects of non-cash items, any deferrals or accruals of past or future operating cash receipts or payments, and items of income or expense associated with investing or financing cash flows - is shown above.
Figures in brackets indicate deductions.
8
Alliance Finance Company PLC
Fair Value Hierarchy
Company | ||||
Financial assets | ||||
Fair Value Measurement using | ||||
Quoted Prices in | Significant | Significant | ||
Unobservable | ||||
Active Markets | Observable Inputs | |||
Inputs | ||||
Level 1 | Level 2 | Level 3 | Total | |
LKR | LKR | LKR | LKR | |
As at 31st March 2024 | ||||
Financial assets - Recognised through | ||||
Profit or Loss | ||||
Government of Sri Lanka treasury bills | - | 1,900,347,524 | - | 1,900,347,524 |
Government of Sri Lanka treasury bonds | - | 626,067,144 | - | 626,067,144 |
Financial assets - Fair value through | ||||
Profit or Loss | ||||
Quoted Investments | 127,629,421 | - | - | 127,629,421 |
Investment in Unit Trust | 854,924,669 | - | - | 854,924,669 |
Financial assets - Fair value through | ||||
Other Comprehensive Income | ||||
Quoted Investments | 317,124,444 | - | - | 317,124,444 |
Unquoted Investments | - | - | 579,250 | 579,250 |
1,299,678,534 | 2,526,414,668 | 579,250 | 3,826,672,452 | |
Liabilities | ||||
Due to Depositors | - | 28,387,365,249 | - | 28,387,365,249 |
Due to Banks | - | 20,310,185,391 | - | 20,310,185,391 |
Derivative financial liabilities | - | 5,379,033 | - | 5,379,033 |
- | 48,702,929,673 | - | 48,702,929,673 | |
As at 31st March 2023 | ||||
Financial assets - Recognised through | ||||
Profit or Loss | ||||
Government of Sri Lanka treasury bills | - | 3,130,690,272 | - | 3,130,690,272 |
Financial assets - Fair value through | ||||
Other Comprehensive Income | ||||
Quoted Investments | 182,705,621 | - | - | 182,705,621 |
Unquoted Investments | - | - | 579,250 | 579,250 |
182,705,621 | 3,130,690,272 | 579,250 | 3,313,975,143 | |
Liabilities | ||||
Due to Depositors | - | 20,475,847,835 | - | 20,475,847,835 |
Due to Banks | - | 22,571,002,700 | - | 22,571,002,700 |
Derivative financial liabilities | - | 36,175,016 | - | 36,175,016 |
- | 43,083,025,551 | - | 43,083,025,551 | |
9
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