Bansei Royal Resorts Hikkaduwa PlcCSELK: BRR.N0000

Interim Financial Statements as at 31.03.24

May 2, 2024 at 10:42 AM UTC · Issued by Bansei Royal Resorts Hikkaduwa Plc

BANSEI ROYAL RESORTS HIKKADUWA PLC

CORPORATE INFORMATION

NAME OF COMPANY	Bansei Royal Resorts Hikkaduwa PLC
	Company Number PV 20150 PQ
LEGAL FORM	A Limited Liability Company incorporated in Sri Lanka under
	the Companies Ordinance as a Private Company on 22nd February
	1976 and re-registered under Companies Act No 07 of 2007 on 29th
	December 2010. The Company changed its status to a Public Limited
	Company with effect from 6th March 2014. In March 2014, its shares
	were listed on the Dirisavi Board of the Colombo Stock Exchange.
BOARD OF DIRECTORS	Mr. T De Zoysa	Chairman
	Mr. T Murakami	Deputy Chairman
	Mr. G C A De Silva
	Mr. J V W Malawana
	Mr. Hiroyuki Ota	Chief Executive Officer
	Mr. C S J Perera
SECRETARIES	Corporate Aracade Ltd
	The Height, 9/4, Edmonton Road,
	Kirulapone
	Colombo 06.
AUDITORS	M/s. Ernst & Young
	Chartered Accountants
	201, De Saram Place
	Colombo 10.
REGISTERED OFFICE	4th Floor, West Tower, World Trade Centre
	Colombo 01
	Phone - +9411 2339135
	Fax - +9411 2339138

Page 01

BANSEI ROYAL RESORTS HIKKADUWA PLC

INVESTOR INFORMATION

1 Shares Information	31.03.2024	31.03.2023
	(Rs.)	(Rs.)
Closing price on	12.90	11.30
Highest price recorded for the twelve months ending	13.70	12.90
Lowest price recorded for the twelve months ending	8.50	7.00
Highest price recorded for the three months ending	13.70	11.50
Lowest price recorded for the three months ending	11.00	9.30
Float adjusted Market Capitalization	69,309,120	60,712,640

2 The float adjusted market capitalisation as at 31st March was 69,309,120/· The percentage of shares held by the public as at 31st March is 10% and the number of public sahre holders as at 31st March 2024 was 724.

3 The company is compliant with rule 7.13.1(b) & appendix 7B(a) of the Listing Rule of The Colombo Stock Exchange on minimum public share holding with option 2 under Dirisavi Board

4 Ratios
Net assets per share	5.44	5.46
	(Rs.5.46 as at 31.03.2023)

Share trading for the twelve months ended

	Number of transactions		1,308
	Number of shares traded		577,639
	Value of shares traded (Rs.)		6,950,412
6 Twenty Largest Shareholders as at 31st March'2024
	Name of Shareholder	No of Shares as at	%
			31.03.2024

	BANSEJ SECURITIES COMPANY LIMITED
	lflKKADUWA HOTEL HOLDINGS (PVT) LTD
	VERITAS HOLDINGS (PVT) LTD


	BANSEI HOLDINGS CO.LID
	MRS.C.V PERERA
	MR.D.S.K KARUNARATNE

	MR.S.M.D.CW SENARATHNE
	MR.I.V.W.MALAWANA
	MR.T.G.S.WICKRAM.A

	MERCHANT BANK OF SRI LANKA& FINANCE PLCN R P DE SILVA
	MR. YR PDESILVA
	MRS.BRR.PERERA
	Mr. A. RATHNAYAKE
	LOLC FINANCE PLCIS.Y.E. FERNANDO
	DR. G.S. PERERA	60,000
	MR.K.P.M.A.L.KARUNARATHNE
	MR.M.T.M PEfRIS
	MR.G.V.SANJAYA
	MR. S SMIRANDA
	�IR.R.ERAM"BUKWELLE	46,500	O.OC-��
	HATTON NATlONAL BANK PLC/MR.R.E.RAMBUKWELLE
	Mr. M L S M FONSEKA
	TOTAL		53,005,298	98.65%

There were no non voting shares as at 31st Man:11'2024

The pe,centageof shares held by public as pet" Colombo Stock Exchange Rules as at 31st March' 2024 was 100/o Number of Public shareholders ·724

Directors' shareholding.
Directors
Name	Directors' Direct Share holding as at 31st
March'2024
	No of Shares
MR.T.DZOYSA
MR.T.MURAKAMI	.	.

MR.KfROYUKI OTA
MR.G.C.A.DE SILVA
MR.J.V.W MALAWANA		1.23
MR.H.PREMARATHNA
MR.C.S.J PERERA

1,099

548,395

5,497,319

Page 02

BANSEI ROYAL RESORTS HIKKADUWA PLC

									STATEMENT OF FINANCIAL POSITION
	Audited						Unaudited				Audited
			as at						as at				as at
31.03.2023						31.03.2024			31.03.2023
	Rs.'000			ASSETS	Rs.'000					Rs.'000

186,885			Non - Current Assets
		Property, Plant and Equipment	185,349		186,885
	186,885						185,349					1861885
3,230			Current Assets
		Inventories	3,596		3,230
4,901			Trade and Other Receivables	4,953		4,901
2,346			Advances, Deposits and Prepayments	3,326		2,346
107,457			Other Financial Assets	128,274		107,457
6 496			cash at Bank and in Hand	61701		6 496
	124,430						1461850				1241430
	311,315			Total Assets	332,199					311,315
									EQUITY AND LIABILITIES
									Capital and Reserves
272,280			Stated capital	272,280			272,280
11 466			Retained Earnings	191933		11,466
283,746				Total Equity			2921213				2831 746
5.28			Non-Current Liabilities
1,719				Post-Employment Benefit Liability	2,150			1,719
10,968				Deferred Tax Liability	20,802			101	968
12,687							221 952					12,687
14,085					Current Liabilities
				Trade and Other Payables	15,820			14,085
798				Income Tax Payable	417
			Divldant Payable	798								798
14,882								17,034				141	882
				27,569					Total Liabilities		39,986			271569
	3111315					Total Equity and Liabilities			332,199			311,315

The Statement of Financial Position as at 31st March 2024, the Income Statement, Statement of Comprehensive Income, Statement of Changes in Equity and cash Flow Statement for the twelve months then ended are drawn up from the unaudited financial statements of the Company and they provide the information required by the Colombo Stock Exchange.

It is certified that the	financial statements have been prepared in compliance with the requirements of
the Companies A	. 7 of 2007.

The Board of Directors is responsible for the preparation and pr Signed for and on behalf of the Board by.

�

Director �

02nd May 2024

Colombo

th e financial statements.

,rector

Page 03

BANSEI ROYAL RESORTS HIKKADUWA PLC

INCOME STATEMENT

Audited			Unaudited			Audited	Variance	Unaudited	Unaudited
as at			12months			12months	Favorable	03months	03months
31.03.2023			ended			ended	(Unfavorable)	ended	ended
Rs:ooo			31.03.2024		31.03.2023		Rs.'000	31.03.2024	31.03.2023
		Rs.'000					Rs:ooo	Rs.'000
98,003	Revenue	114,920		98,003		17%		47,345	41,294
{20,279)	Cost of Sales	(23,040)	(20,279)		-14%		(8,503)	(6,537)
77,724	Gross Profit	91,880				77,724		18%		38,842	34,757
514	Other Income	489		514		-5%		382	(222)
(2,405)	Marketing & Promotional Expenses	(3,552)		(2,405)		-48%		(1,596)	(1,059)
(59,895)	AdministratiVe Expenses	(74,035)		(59,895)		-24%		(21,396)	(17,963)
	Finance Cost							0%
10,151	Finance income	17,079		10,151		68%		3,504	5,191
	Profit/(Loss) Before Tax							22%
26,090		31,861			26,090			19,736	20,705
(9,618)	Income Tax Expenses	(12,649)		(9,618)		-32%		(9,834)	680
	Other Comprehensive income (net of tax:							0%

Variance

Favorable (Unfavorable)

15%

-300/o

12%

273%

-51%

-19%

-330/o

-5%

·1546%

16,472	Profit/(Loss) for the Period	19,213		16,472	17%	9,902	21,385		-54%
	0.31		Eamings/(Loss) per share for the		0.36			0.31		17%	0.18	0.40	-54%
			period (Basic)-Rs.
			tt21H
			1. Operating profit/(loss) is after Charging following
8,182		Depreciation	8,520		8,182

2. Stated capital Issued and fully paid

272,280

53,728,000 Ordinary Shares

272,280

These interim financial statements have been prepared in accordance with the accounting policies set out in the Annual Report for the year ended 31.03.2024
and are also in compliance with Sri Lanka Accounting Standard (LKAS) 34- Interim financial reporting.
There are no significant contingent liabilities as at 31st March'2024
Figures in bracket indicates deductions
There are no distinguishable components to be identified as segments for the Company.

No circumstances have arisen since the reporting date, which would require adjustments to or disclosure in the Financial Statements.
The period under review relates to the season of the tourism industry in Sri Lanka.

Page 04

BANSEI ROYAL RESORTS HIKKADUWA PLC

STATEMENT OF COMPREHENSIVE INCOME

	Audited		Unaudited	Audited
	asat		12 months	12 months
31.03.2023		ended	ended
	Rs.'000		31.03.2024	31.03.2023
		Rs.'000	Rs.'000
16,472	Profit/(Loss) for the period	19,213	16,472
(73)	Income Tax effect		(73)
243	Actuarial Gain on Post-Employment Benefit Liabilities		243

170	Other Comprehensive lncome/(Loss) for the Period		170
-----
16,642	Total Comprehensive lncome/(Loss) for the Period	19,213	16,642
========

Page 05

BANSEI ROYAL RESORTS HIKKADUWA PLC

STATEMENT OF CHANGES IN EQUITY

	Stated	Shareholders'	Retained
	Capital	Funds	Earnings		Total
	Rs.'000	Rs.'000	Rs.'000		Rs.'000
Balance as at 01st April 2022	272,280		(5,176)	267,104
Profit/(Loss) for the Period			16,642	16,642
Other Com�rehensive Income			16,642
Total Comprehensive Income			16,642
Balance as at 31st March'2023	272,280
	11,466	283,746

Balance as at 01st April 2023	272,280	11,466	283,746
Profit/(Loss) for the Period		19,213	19,213
Other Comprehensive Income		{10,7462		p0,746}
Dividant Paid 2022/2023
Total Comprehensive Income		8,467	8,467
Balance as at 31st March'2024
272,280		19,933	292,213

Page 06

6 496

6,496

Cash and Bank Balance Bank Overdraft

6 496

20,722

(14,227)

514

(33,000)

(4,672)

(162}

22[164

(1,069)

24,174

(1,211)

(3,667)

(467)

4,565

23,395

579

8,182

(10,163)

26,090

Rs.'000

31.03.2023

Audited as at

BANSEI ROYAL RESORTS HIKKADUWA PLC

CASH FLOW STATEMENTS

							Unaudited					Audited
							12 months					12 months
								ended					ended
						31.03.2024	31.03.2023
								Rs.'000					Rs.'000
		Cash Flow from Operating Activities
		Profit/(Loss) before Tax for the period	31,861		26,090
		Adjustment for
		Depreciation	8,644		8,182
		(Income) from Investments-Interest Income	(17,007)	(10,163)
		(Profit)/Loss on Disposal of Property Plant & Equipment
		Finance Costs
(514)	Provision for Defined Benefit Plans	499		579
Exchange (Gain)/Loss	26		(514)
		Gain on Insurance Proceeds	(72)
		Operating Profit before Working Capital Changes	23,951							24,174
		(Increase)/Decrease in Inventories	(365)		(1,211)
		(Increase)/Decrease in Trade and Other Receivables	(95)		(3,667)
		(Increase )/Decrease in Advance Deposits & Prepayments	(971)		(467)
		(Increase)/(Decrease) in Trade and Other Payables	1,735		4,565
		Cash Generated from Operations		24,254						23,395
		Income Tax Paid	(2,407)		(1,069)
		Finance Costs Paid
		Defined Benefit Plan Costs Paid net of transfers	(68}		(162)
		Net Cash from Operating Activities		21,780					22,164
		Cash Flows from/(Used in) Investing Activities
		Acquisition of Short term Investments	(20,817)		(33,000)
		Acquisition of Property, Plant & Equipment	(7,169)		(4,672)
767		Proceeds from Sale of Property, Plant & Equipment	105
	Interest Income	171079		767
{36[905}		Net Cash Flows from/(Used in) Investing Activities		(10,803)				(36,905}
		Cash Flows from/(Used in) Financing Activities
		Proceeds from Interest Bearing Loans & Borrowings
		Repayment of Interest Bearing Loans & Borrowings
		Finance Lease Paid
		Divident Paid	(10,746)
		Proceeds from Issue of shares
		Repayment of share holder funds
		Net Cash Flows/(Used In) Financing Activities		{10,746)
		Effect of Exchange Rate changes on cash and cash Equivalents	(26)		514
		(Net Increase)/Decrease in Cash & Cash Equivalents	206		(14,227)
		Cash and Cash Equivalents at the beginning of the period	6,496		20,722
		Cash and Cash Equivalents at the end of the period
			6,701		6,496
											6,496
						6,701


							6,496
							61701

Page 07