Interim Financial Statements
For the period ended
31st December 2024
eChannelling PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPRIHENSIVE INCOME
For the period ended 31.12.2024
Revenue
Cost of Sales/Direct Cost
Gross Profit
Net Other Operating Income
Administrative Expenses
Marketing & Distribution Expenses
Profit From Operations
Finance Income
Finance Expenses
Net Finance (Expenses) / Income
Profit Before Taxation
Income Tax Expenses
Profit for the Period
Other Comprehensive Income
Equity Investment at FVOCI-net change in Fair Value Re-measurement of defined benefit liability Related tax
Other Comprehensive Income for the Period, net of tax Total Comprehensive Income for the Period
Earnings Per Share
Dividends Per Share
Quarter Ended 31st December | Year Ended 31st December | ||
Un-audited | Audited | Un-audited | Audited |
2024 | 2023 | 2024 | 2023 |
LKR | LKR | LKR | LKR |
66,036,775 | 72,251,860 | 255,897,318 | 271,193,906 |
(14,554,427) | (19,134,706) | (57,146,667) | (64,209,472) |
51,482,347 | 53,117,154 | 198,750,652 | 206,984,435 |
1,648,532 | 264,997 | 3,085,396 | 502,875 |
(40,809,830) | (40,827,571) | (166,271,396) | (168,512,037) |
(7,559,639) | (6,879,601) | (19,524,445) | (23,190,373) |
4,761,410 | 5,674,979 | 16,040,207 | 15,784,901 |
7,712,537 | 7,589,247 | 30,820,657 | 44,141,063 |
(120,047) | (30,477) | (890,144) | (384,233) |
7,592,490 | 7,558,770 | 29,930,514 | 43,756,830 |
12,353,900 | 13,233,749 | 45,970,720 | 59,541,731 |
(2,616,433) | (1,390,026) | (14,023,572) | (15,715,121) |
9,737,467 | 11,843,723 | 31,947,148 | 43,826,610 |
863,826 | (626,572) | 1,179,314 | (170,551) |
(2,655,307) | (3,123,957) | (1,014,914) | (2,767,665) |
796,592 | 937,187 | 304,474 | 830,299 |
(994,889) | (2,813,342) | 468,874 | (2,107,916) |
8,742,578 | 9,030,381 | 32,416,022 | 41,718,694 |
0.08 | 0.10 | 0.26 | 0.36 |
- | - | - | - |
The notes to the Financial Statements form an integral part of these Financial Statements.
Figures in brackets indicate deductions.
eChannelling PLC
STATEMENT OF FINANCIAL POSITION
As at 31st December 2024
31.12.2024 | 31.12.2023 | |
LKR | LKR | |
Un-audited | Audited | |
ASSETS | ||
Non Current Assets | ||
Property, plant & equipment | 3,381,121 | 2,492,970 |
Intangible assets | 1,150,672 | 3,534,524 |
Leasehold right-of-use asset | 5,344,398 | - |
Deferred tax assets | 9,153,823 | 8,092,565 |
Equity Investments at FVOCI | 3,355,729 | 2,175,669 |
Total Non Current Assets | 22,385,743 | 16,295,728 |
Current Assets | ||
Inventories | 288,465 | 288,465 |
Trade & other receivables | 246,709,085 | 179,898,773 |
Amount due from related parties | 82,482,357 | 64,125,164 |
Short term investments | 324,895,734 | 305,359,349 |
Cash & cash equivalents | 31,672,517 | 22,533,803 |
Total Current Assets | 686,048,158 | 572,205,554 |
Total Assets | 708,433,901 | 588,501,282 |
EQUITY AND LIABILITIES | ||
Equity | ||
Stated capital | 93,758,316 | 93,758,316 |
Retained earnings | 379,967,419 | 348,730,710 |
Fair value through OCI reserve | 1,785,443 | 606,130 |
Total Equity | 475,511,178 | 443,095,157 |
Non Current Liabilities | ||
Employee benefits | 11,727,310 | 11,218,981 |
Total Non Current Liabilities | 11,727,310 | 11,218,981 |
Current Liabilities | ||
Trade & other payables | 129,007,092 | 89,100,372 |
Leashold right to use liability | 9,594,513 | 1,488,321 |
Amount due to related parties | 71,265,454 | 36,041,242 |
Income tax liability | 3,101,399 | 4,589,934 |
Bank Overdraft | 8,226,955 | 2,967,274 |
Total Current Liabilities | 221,195,413 | 134,187,143 |
Total Liabilities | 232,922,723 | 145,406,124 |
Total Equity & Liabilities | 708,433,901 | 588,501,282 |
Net Asset Per Share | 3.89 | 3.63 |
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No 7 of 2007.
Signed
R.P.S.P. Randeni
Manager -Finance
The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the board:
Signed | Signed | |
Dr. Mothilal De Silva | S.A.Hettiarachchi | |
Chairman | Director | |
Date: | 27.02.2025 | ` |
Figures in the brackets indicate deductions.
The above figures are provisional and subject to audit.
eChannelling PLC
STATEMENT OF CHANGES IN EQUITY
For the Period Ended 31st December 2024
Balance as at 31st December 2022
Total Comprehensive income for the period
Profit for the period
Other comprehensive income
Actuarial gain arising from defined benefit obligation, net of tax Fair value gain of investments valued at FVTOCI
Balance as at 31 st December 2023
Balance as at 01st January 2024
Total Comprehensive income for the perod
Profit for the year
Other comprehensive income
Actuarial gain arising from defined benefit obligation, net of tax Fair value gain of investments valued at FVTOCI
Balance as at 31st December 2024
Figures in the brackets indicate deductions.
The above figures are provisional and subject to audit.
Stated Capital | Available for- | Retained | Total |
sale Reserve | Earnings | ||
LKR | LKR | LKR | LKR |
93,758,316 | 776,681 | 306,841,467 | 401,376,464 |
- | - | 43,826,610 | 43,826,610 |
(1,937,365) | (1,937,365) | ||
- | (170,551) | (170,551) | |
93,758,316 | 606,130 | 348,730,711 | 443,095,158 |
93,758,316 | 606,130 | 348,730,710 | 443,095,158 |
31,947,148 | 31,947,148 | ||
- | |||
- | |||
(710,440) | (710,440) | ||
1,179,314 | 1,179,314 | ||
93,758,316 | 1,785,443 | 379,967,419 | 475,511,180 |
eChannelling PLC
CASH FLOW STATEMENT
For the period ended
Cash Flow From Operating Activities
Profit Before Tax
Adjustments for :
Depreciation and amortization Ammortization of right-of-use asset Amotization on intangible assets Provision for employee benefits Interest income
Interest expenses
Provision for impairment of bad & doubtful debts Dividend Received
Operating Profit before Working Capital Changes
Decrease / (increase) in trade & other receivable Decrease / (increase) in amounts due from related parties Decrease / (increase) in amounts due to related parties Increase / (decrease) in trade & other payables
Cash Generated from Operations
Employee benefits paid
Tax paid
Net Cash Generated from Operating Activities
Cash Flow From Investing Activities
Acquisition of property plant and equipment Acquisition of intangible assets
Net proceeds from short term investments Interest Income Received
Investment in shares
Net Cash (used in) / Generated from Investing Activities
Cash flow from Financing Activities
Lease Rental
Net Cash Generated from Financing Activities
Net increase in cash & cash equivalents
Cash & cash equivalents at beginning of the period
Cash & Cash Equivalents at end of the Period
Analysis of Cash and Cash Equivalents
Cash at bank & in hand
Bank overdraft
Figures in the brackets indicate deductions.
31.12.2024 | 31.12.2023 |
Un-audited | Audited |
LKR | LKR |
45,970,720 | 59,541,731 |
3,415,523 | 3,751,715 |
5,344,397 | 5,214,875 |
2,383,854 | 2,368,927 |
2,354,622 | 2,384,229 |
(30,820,657) | (44,141,063) |
890,144 | 384,233 |
676,789 | 606,569 |
(745) | - |
30,214,647 | 30,111,216 |
(70,484,684) | (24,139,422) |
(18,357,193) | 16,691,595 |
35,224,212 | 21,890,439 |
39,906,879 | (18,750,873) |
16,503,862 | 25,802,955 |
(2,861,207) | (1,538,917) |
(13,368,399) | (20,087,454) |
274,256 | 4,176,584 |
(4,303,674) (1,111,400)
-
(1,553,000)
(18,725,746) (38,349,977)
30,106,945 55,762,872
(4,967)
7,077,525 14,748,495
(3,472,747) (10,353,530)
(3,472,747) (10,353,530)
3,879,033 8,566,580
19,566,529 10,999,949
23,445,562 19,566,529
31,672,517 22,533,803
(8,226,955) (2,967,274)
23,445,562 19,566,529
The above figures are provisional and subject to audit.
Notes to the Financial Statements
-
Basis of preparation
The Interim Financial Statements of the Company have been prepared in accordance with Sri Lanka Accounting Standard -
LKAS 34 - Interim Financial Reporting. This Interim Financial Statement should be read in conjunction with the Annual Report for the year ended 31 December 2023. The financial statements provide the information as required in terms of Rule 7.4 of the Colombo Stock Exchange. - Company is following the same accounting policies published in the Annual report for the year ended 31st December 2023.
- The figures are provisional and subject to audit.
- All known expenses including management fees and similar expenses have been provided for the financial statements.
- According to the best of knowledge and belief of the Board of Directors no circumstances have arisen since the reporting date, which would require adjustments to or disclosure in the Financial Statements.
- There has not been a significant change in the nature of contingent liabilities, which were disclosed in the Annual Report for the year ended 31 December 2023.
- Basic earnings per share is calculated by dividing the net profit for the respective period attributable to ordinary shareholders of the entity by the weighted average number of ordinary shares outstanding during that period.
20 Largest Shareholders
Name of Shareholder | No of Shares | % Holding |
31-Dec-24 | ||
Mobitel (Pvt) Ltd | 106,974,618 | 87.59 |
People's Leasing & Finance PLC / Mr. M.M.R.S Ananda | 1,577,653 | 1.29 |
Mr. G.C. Goonetilleke | 1,162,000 | 0.95 |
Senkadagala Finance PLC / S.Gobinath | 1,010,000 | 0.83 |
Mr. P. Rathnayaka | 840,000 | 0.69 |
Mr. M.A.B Morahela | 294,398 | 0.24 |
Merchant Bank of Sri Lanka & Finance PLC / Y.R.P.De Silva | 253,136 | 0.21 |
Mr. M.A. Kumarasingha | 232,433 | 0.19 |
Mr. Z.G Carimjee | 231,933 | 0.19 |
Mrs. T.R. Selvanayagam | 201,000 | 0.16 |
Mr. A.H. Munasinghe | 190,000 | 0.16 |
Mr. H.M.C De Alwis | 178,204 | 0.15 |
Seylan Bank PLC / Anuja Chamila Jayasinghe | 175,210 | 0.14 |
Mr. B.A.S.I Perera | 120,400 | 0.10 |
Hatton National Bank PLC / Ravindra Erle Rambukwelle | 116,000 | 0.09 |
Mrs. Z.M. Adamally | 115,967 | 0.09 |
Mr. M.S.F Haqque | 109,594 | 0.09 |
National Lanka Capital LTD / Rupasingha Arachchige Donal Rupasingha | 107,560 | 0.09 |
Merchant Bank of Sri Lanka & Finance PLC 01 | 104,000 | 0.09 |
People's Leasing & Finance PLC / Mr. P.S.K. Jeewantha | 102,341 | 0.08 |
Sub Total | 114,096,447 | 93.42 |
Others | 8,034,968 | 6.58 |
Total Shares | 122,131,415 | 100 |
Public Shareholding | ||
Number of Shareholders | 2,158 | |
Number of Shares | 15,156,797 | |
Percentage Holding | 12.41% | |
Float Adjusted Market Capitalization - Rs. | 209,163,799 |
The Company complies with Option 2 of the Listing Rules 7.13.1 (b) - Less than Rs. 1 Bn, Float Adjusted Market Capitalization which requires 10% minimum Public Holding.
Directors Shareholding | As at 31st |
Name of Director | December 2024 |
Dr. Mothilal De Silva - Chairman | - |
Mr. A.K.D.D.D. Arandara (Resigned W.E.F. 19.11.2024) | - |
Dr. Isuru Dasanayake (Resigned W.E.F. 22.10.2024) | - |
Mr.Lawrence Paratz | - |
Mr. Sampath Hettiarachchi | - |
Mr. Dallas Stephen | - |
Mr. Dinesh Vidanapathirana (Resigned W.E.F. 19.11.2024) | - |
Mr. Chandrasiri Kalupahana |
Market Price Per Share | 2024 | 2023 |
For the 3 months ended 31st December 2024 | LKR | LKR |
Highest | 15.50 | 17.90 |
Lowest | 12.50 | 13.90 |
Last Traded | 13.80 | 14.00 |
Corporate Information | |
Name of the Company | eChannelling PLC |
Company Registration No | PQ 205 |
Registered Office | No.108, W.R.D.Ramanayake Mawatha, |
Colombo 02 | |
Telephone | (+94 71) 4 225225 |
Website | www.echannelling.com |
Contant Person | Sandun Randeni ( Manager- Finance) |
Legal Form | |
Quoted Public Company incorporated in Sri | |
Lanka in 2000, Ordinary share listed on the Diri | |
Savi Board of the Colombo Stock Exchange | |
Board of Directors | Dr. Mothilal De Silva - Chairman |
Mr. A.K.D.D.D. Arandara (Resigned W.E.F. 19.11.2024) | |
Dr. Isuru Dasanayake (Resigned W.E.F. 22.10.2024) | |
Mr.Lawrence Paratz | |
Mr. Sampath Hettiarachchi | |
Mr. Dallas Stephen | |
Mr. Dinesh Vidanapathirana (Resigned W.E.F. 19.11.2024) | |
Mr. Chandrasiri Kalupahana | |
Mr. Suneth Haputhanthri (Appointed W.E.F. 07.02.2025) | |
Secretaries of the Company | Ms. Geredene Suares |
Auditors | KPMG |
Charted Accountants | |
32A, Sir Mohamed Macan Marker Mawatha | |
P.O. Box 186 | |
Colombo 03 | |
Lawyer(s) | D. L. & F. De Saram |
47 Alexandra Place, Colombo 07 | |
Bankers | Sampath Bank PLC |
Nations Trust Bank PLC | |
Peoples Bank | |
Commercial Bank of Ceylon PLC | |
DFCC Bank | |
Amana Bank PLC | |
National Development Bank | |
City Bank |