ELPITIYA PLANTATIONS PLC
INTERIM CONDENSED FINANCIAL STATEMENTS |
FOR THE TWELVE MONTHS ENDED 31ST MARCH 2025 |
CONSOLIDATED INCOME STATEMENT
Three months ended | Twelve months ended | |||||
Unaudited 31.03.2025 | Audited 31.03.2024 | Change | Unaudited 31.03.2025 | Audited 31.03.2024 | Change | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |||
Revenue | 2,042,530 | 1,973,764 | 3% | 7,692,249 | 7,204,027 | 7% |
Cost of sales | (1,607,858) | (1,623,363) | -1% | (5,308,572) | (5,006,836) | 6% |
Gross Profit | 434,672 | 350,401 | 24% | 2,383,677 | 2,197,191 | 8% |
Gain on fair value of biological assets | 400,966 | 247,207 | 62% | 400,966 | 247,207 | 62% |
Other income | 21,942 | 97,501 | -77% | 153,401 | 176,774 | -13% |
Administration expenses | (446,396) | (292,723) | 52% | (1,131,943) | (850,798) | 33% |
Management overheads and employees incentives | 6,425 | (15,458) | -142% | (127,913) | (158,025) | -19% |
Finance costs | (21,786) | (46,577) | -53% | (83,915) | (82,485) | 2% |
Finance income | 66,393 | 55,317 | 20% | 233,761 | 380,707 | -39% |
Share of profit/(loss) from joint ventures | 35,473 | 3,647 | 873% | 106,966 | 77,183 | 39% |
Profit before taxation | 497,689 | 399,315 | 25% | 1,935,000 | 1,987,754 | -3% |
Tax expense | (193,430) | (104,760) | 85% | (605,930) | (421,793) | 44% |
Profit for the period | 304,259 | 294,555 | 3% | 1,329,070 | 1,565,961 | -15% |
Attributable to | ||||||
Equity holders of the parent | 304,304 | 294,616 | 3% | 1,329,268 | 1,566,107 | -15% |
Non-controlling interest | (45) | (61) | -26% | (198) | (146) | 36% |
Profit for the period | 304,259 | 294,555 | 3% | 1,329,070 | 1,565,961 | -15% |
Earnings per share (Rs.) 4.18 4.04 18.24 21.49
*Figures in brackets indicate deductions. The above figures are subject to audit
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOMEThree months ended | Twelve months ended | |||||
Unaudited 31.03.2025 Rs.'000 | Audited 31.03.2024 Rs.'000 | Change | Unaudited 31.03.2025 Rs.'000 | Audited 31.03.2024 Rs.'000 | Change | |
Profit for the period | 304,259 | 294,555 | 3% | 1,329,070 | 1,565,961 | -15% |
Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods (net of tax) | ||||||
Actuarial gain/(loss) on retirement benefit obligations | 2,461 | (228,619) | -101% | 2,461 | (228,619) | -101% |
Tax effect | (738) | 68,586 | -101% | (738) | 68,586 | -101% |
Other comprehensive income for the period, net of tax | 1,723 | (160,033) | -101% | 1,723 | (160,033) | -101% |
Total comprehensive income for the period, net of tax | 305,982 | 134,522 | 127% | 1,330,793 | 1,405,928 | -5% |
Attributable to Equity holders of the parent Non-controlling interest | 306,027 (45) | 134,583 (61) | 127% -26% | 1,330,991 (198) | 1,406,074 (146) | -5% 36% |
Total comprehensive income for the period, net of tax | 305,982 | 134,522 | 127% | 1,330,793 | 1,405,928 | -5% |
*Figures in brackets indicate deductions. The above figures are subject to audit
COMPANY INCOME STATEMENT
Three months ended | Twelve months ended | |||||
Unaudited 31.03.2025 | Audited 31.03.2024 | Change | Unaudited 31.03.2025 | Audited 31.03.2024 | Change | |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | |||
Revenue | 2,041,525 | 1,973,051 | 3% | 7,682,543 | 7,191,741 | 7% |
Cost of sales | (1,604,336) | (1,619,489) | -1% | (5,294,015) | (4,993,333) | 6% |
Gross profit | 437,189 | 353,562 | 24% | 2,388,528 | 2,198,408 | 9% |
Gain on fair value of biological assets | 400,966 | 247,207 | 62% | 400,966 | 247,207 | 62% |
Other income | 64,722 | 140,045 | -54% | 189,496 | 219,311 | -14% |
Administration expenses | (444,042) | (291,404) | 52% | (1,126,948) | (847,126) | 33% |
Management overheads and employees incentives | 6,425 | (15,458) | -142% | (127,913) | (158,025) | -19% |
Finance cost | (21,786) | (46,577) | -53% | (83,915) | (82,485) | 2% |
Finance income | 66,380 | 55,268 | 20% | 233,643 | 380,554 | -39% |
Profit before taxation | 509,854 | 442,643 | 15% | 1,873,857 | 1,957,844 | -4% |
Tax expenses | (181,570) | (95,156) | 91% | (594,068) | (412,156) | 44% |
Profit for the period | 328,284 | 347,487 | -6% | 1,279,789 | 1,545,688 | -17% |
Earnings per share (Rs.) 4.51 4.77 17.56 21.21
*Figures in brackets indicate deductions. The above figures are subject to audit
COMPANY STATEMENT OF OTHER COMPREHENSIVE INCOME
Three months ended | Twelve months ended | |||||
Unaudited 31.03.2025 Rs.'000 | Audited 31.03.2024 Rs.'000 | Change | Unaudited 31.03.2025 Rs.'000 | Audited 31.03.2024 Rs.'000 | Change | |
Profit for the period | 328,284 | 347,487 | -6% | 1,279,789 | 1,545,688 | -17% |
Other comprehensive income/(loss) not to be reclassified to profit or loss in subsequent periods (net of tax) | ||||||
Actuarial gain/(loss) on retirement benefit obligations | 2,461 | (228,619) | -101% | 2,461 | (228,619) | -101% |
Tax effect | (738) | 68,586 | -101% | (738) | 68,586 | -101% |
Other comprehensive income for the period, net of tax | 1,723 | (160,033) | -101% | 1,723 | (160,033) | -101% |
Total comprehensive income for the period, net of tax | 330,007 | 187,454 | 76% | 1,281,512 | 1,385,655 | -8% |
*Figures in brackets indicate deductions. The above figures are subject to audit
STATEMENT OF FINANCIAL POSITION
Group | Company | |||
Unaudited As at 31.03.2025 Rs.'000 | Audited As at 31.03.2024 Rs.'000 | Unaudited As at 31.03.2025 Rs.'000 | Audited As at 31.03.2024 Rs.'000 | |
ASSETS | ||||
Non current assets | ||||
Right-of-use asset | 535,058 | 482,774 | 535,058 | 482,774 |
Freehold property plant and equipment | 2,054,611 | 1,998,273 | 1,898,416 | 1,833,527 |
Intangible assets | 44,311 | 17,930 | 41,707 | 15,327 |
Bearer biological assets | 4,184,401 | 4,090,006 | 4,184,401 | 4,090,006 |
Consumable biological assets | 1,837,819 | 1,414,898 | 1,837,819 | 1,414,898 |
Other non current asset | 49,666 | 48,140 | 49,666 | 48,140 |
Other financial asset | 12,046 | 12,046 | 12,046 | 12,046 |
Investments | 581,617 | 509,981 | 314,490 | 299,290 |
9,299,529 | 8,574,048 | 8,873,603 | 8,196,008 | |
Current assets | ||||
Produce on bearer biological assets | 28,720 | 29,053 | 28,720 | 29,053 |
Inventories | 664,121 | 583,486 | 664,065 | 583,430 |
Trade and other receivables | 630,357 | 661,210 | 629,134 | 660,832 |
Amounts due from related companies | 182,952 | 148,169 | 215,160 | 186,612 |
Short term investments | 2,998,747 | 2,346,501 | 2,998,747 | 2,346,501 |
Cash and bank balances | 258,425 | 103,920 | 255,360 | 100,009 |
4,763,322 | 3,872,339 | 4,791,186 | 3,906,437 | |
TOTAL ASSETS | 14,062,851 | 12,446,387 | 13,664,789 | 12,102,445 |
EQUITY AND LIABILITIES | ||||
Capital and reserves | ||||
Stated capital | 694,236 | 694,236 | 694,236 | 694,236 |
Timber reserve | 1,444,855 | 1,054,282 | 1,444,855 | 1,054,282 |
Retained earnings | 7,366,259 | 6,790,173 | 6,975,894 | 6,449,287 |
Total equity attributable to the equity holders | 9,505,350 | 8,538,691 | 9,114,985 | 8,197,805 |
Non-controlling interest | (5,395) | (5,197) | - | - |
Total equity | 9,499,955 | 8,533,494 | 9,114,985 | 8,197,805 |
Non current liabilities | ||||
Net liability to the lessor payable | 603,004 | 519,614 | 603,004 | 519,614 |
Retirement benefit obligations | 914,582 | 870,759 | 914,154 | 870,407 |
Deferred income | 129,320 | 133,949 | 129,320 | 133,949 |
Deferred tax liability | 1,755,930 | 1,589,155 | 1,746,956 | 1,582,496 |
3,402,836 | 3,113,477 | 3,393,434 | 3,106,466 | |
Current liabilities | ||||
Interest bearing borrowings | - | 72,216 | - | 72,216 |
Net liability to the lessor payable | 7,543 | 5,681 | 7,543 | 5,681 |
Trade and other payables | 892,294 | 618,068 | 890,635 | 616,874 |
Amounts due to related companies | 44,238 | 27,501 | 44,238 | 27,500 |
Income tax liabilities | 215,985 | 75,950 | 213,954 | 75,903 |
1,160,060 | 799,416 | 1,156,370 | 798,174 | |
TOTAL EQUITY AND LIABILITIES | 14,062,851 | 12,446,387 | 13,664,789 | 12,102,445 |
130.45 | 117.18 | 125.09 | 112.50 |
*Figures in brackets indicate deductions.
The above figures are subject to audit
I certify that the financial statements comply with the requirements of the Companies Act, No. 7 of 2007
Sgd.
Mr. Ruwan NissankaChief Operating Officer - Finance
The Board of Directors is responsible for these financial statements. Signed on behalf of the Board of Directors of Elpitiya Plantations PLC
Sgd.
Dr. M. P. DissanayakeChairman 27.05.2025
Sgd.
Dr. Rohan M. FernandoManaging Director
STATEMENTS OF CHANGES IN EQUITY
GROUP | Attributable to the equity holders of the parent | Non- controlling interest Rs.000 | Total equity Rs.000 | |||
Balance as at 01.04.2023 Total comprehensive income for the year Gains/(loss) on change in fair value of Consumable biological assets transferred to the timber reserve Realised gain on harvested timber trees Interim & Final dividend Balance as at 31.03.2024 Balance as at 01.04.2024 Total comprehensive income for the year Gains/(loss) on change in fair value of Consumable biological assets transferred to the timber reserve Realised gain on harvested timber trees Interim & Final dividend Balance as at 31.03.2025 | Stated capital Rs.'000 | Retained earnings Rs.'000 | Timber reserve Rs.'000 | Total Rs.'000 | ||
694,236 - - - - | 7,017,246 1,406,074 (258,376) 9,691 (1,384,462) | 805,597 -258,376 (9,691) - | 8,517,079 1,406,074 - -(1,384,462) | (5,051) (146) - - - | 8,512,028 1,405,928 - -(1,384,462) | |
694,236 | 6,790,173 | 1,054,282 | 8,538,691 | (5,197) | 8,533,494 | |
694,236 - - - - | 6,790,173 1,330,991 (401,299) 10,726 (364,332) | 1,054,282 -401,299 (10,726) - | 8,538,691 1,330,991 - -(364,332) | (5,197) (198) - - - | 8,533,494 1,330,793 - - -(364,332) | |
694,236 | 7,366,259 | 1,444,855 | 9,505,350 | (5,395) | 9,499,955 | |
COMPANY
Balance as at 01.04.2023 Total comprehensive income for the year Gains/(loss) on change in fair value of Consumable biological assets transferred to the timber reserve Realised gain on harvested timber trees Interim & Final dividend Balance as at 31.03.2024 Balance as at 01.04.2024 Total comprehensive income for the year Gains/(loss) on change in fair value of Consumable biological assets transferred to the timber reserve Realised gain on harvested timber trees Interim & Final dividend Balance as at 31.03.2025 | Stated capital Rs.'000 | Retained Rs.'000 | Timber reserve Rs.'000 | Total equity Rs.000 |
694,236 - - - - | 6,696,779 1,385,655 (258,376) 9,691 (1,384,462) | 805,597 -258,376 (9,691) - | 8,196,612 1,385,655 - -(1,384,462) | |
694,236 | 6,449,287 | 1,054,282 | 8,197,805 | |
694,236 - - - - | 6,449,287 1,281,512 (401,299) 10,726 (364,332) | 1,054,282 -401,299 (10,726) - | 8,197,805 1,281,512 - - -(364,332) | |
694,236 | 6,975,894 | 1,444,855 | 9,114,985 |
*Figures in brackets indicate deductions. The above figures are subject to audit
STATEMENTS OF CASH FLOWS
For the Twelve months ended CASH FLOWS FROM OPERATING ACTIVITIES Profit before taxation Adjustments for Depreciation and amortization Provision for defined benefit plans Items written back Items written off Amortization of grants Finance expenses Finance income Gain on biological assets Amortisation of deferred income from sub lease Profit on sale of other trees Profit from sale of Timber Trees Amortization of Right of use asset - Land Share of profit of joint venture Dividend Income Provision for Doubtful Receivables Gain on PPE disposal Operating profit before working capital changes (Increase)/decrease in inventories (Increase)/decrease in trade and other receivables (Increase)/decrease in amounts due from related parties Increase/(decrease) in trade and other payables Increase/ (decrease) in amount due to related parties Cash generated from operations Cash received from sublease of land Cash received from sale of trees Finance cost paid Finance income received Retirement benefit obligations paid Tax paid Grants received Net cash from operating activities CASH FLOWS FROM INVESTING ACTIVITIES Field development expenditure Purchase of property, plant and equipment Proceeds from sale of property, plant and equipments Dividend Received Net Proceed from Investment in Short term deposit Investment in Subsidiary/Joint Venture Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Payment of government lease rentals Settlement of loans Dividend paid Net cash flow used in financing activities Net increase/decrease in Cash & Cash Equivalents
| Group | Company | ||
Unaudited 31.03.2025 Rs.'000 | Audited 31.03.2024 Rs.'000 | Unaudited 31.03.2025 Rs.'000 | Audited 31.03.2024 Rs.'000 | |
1,935,000 487,416 180,202 (2,503) 3,058 (2,203) 83,915 (233,761) (400,966) (11,938) (4,866) (10,189) (5,479) (106,966) -30,073 (1,679) | 1,987,754 404,034 162,094 (1,835) 16,589 (13,369) 82,485 (380,707) (247,207) (7,887) (3,058) (17,757) (5,479) (77,183) -3,984 (3,149) | 1,873,857 477,469 180,126 (2,503) 3,058 (2,203) 83,915 (233,643) (400,966) (11,938) (4,866) (10,189) (5,479) -(42,780) 30,073 (1,679) | 1,957,844 395,078 162,025 (1,835) 16,589 (13,369) 82,485 (380,554) (247,207) (7,887) (3,058) (17,757) (5,479) -(42,780) 3,984 (3,149) | |
1,939,114 (83,693) (35,763) (34,782) 252,509 16,737 | 1,899,309 152,863 (159,600) (12,612) (20,858) 2,618 | 1,932,252 (83,693) (34,914) (28,548) 251,849 16,737 | 1,894,930 152,863 (173,988) 5,303 (20,434) 2,618 | |
2,054,122 10,714 25,780 (3,677) 206,924 (112,005) (270,729) 4,279 | 1,861,720 10,055 30,506 (16,593) 366,288 (125,801) (201,392) 3,614 | 2,053,683 10,714 25,780 (3,677) 206,806 (112,005) (270,723) 4,279 | 1,861,292 10,055 30,506 (16,593) 366,135 (125,801) (201,386) 3,614 | |
1,915,408 | 1,928,397 | 1,914,857 | 1,927,822 | |
(373,457) (283,804) 1,705 85,561 (652,246) (15,200) | (399,688) (307,357) 3,153 -125,084 (60,000) | (373,303) (282,561) 1,705 85,561 (652,246) (15,200) | (399,688) (307,357) 3,153 -125,084 (60,000) | |
(1,237,441) | (638,808) | (1,236,044) | (638,808) | |
(86,914) (72,216) (364,332) | (73,969) (113,408) (1,384,462) | (86,914) (72,216) (364,332) | (73,969) (113,408) (1,384,462) | |
(523,462) | (1,571,839) | (523,462) | (1,571,839) | |
154,505 103,920 | (282,250) 386,170 | 155,351 100,009 | (282,825) 382,834 | |
258,425 | 103,920 | 255,360 | 100,009 | |
NOTE A
103,920 | 386,170 | 100,009 | 382,834 |
103,920 | 386,170 | 100,009 | 382,834 |
Cash & Cash Equivalents at the beginning of the period Cash and Bank
NOTE B
258,425 | 103,920 | 255,360 | 100,009 |
258,425 | 103,920 | 255,360 | 100,009 |
Cash & Cash Equivalents at the end of the period Cash and Bank
*Figures in brackets indicate deductions. The above figures are subject to audit
NOTES TO THE FINANCIAL STATEMENTS
FINANCIAL INFORMATION
1 Segmental Information
For the Twelve months ended | Group | Company | ||
31.03.2025 Rs.'000 | 31.03.2024 Rs.'000 | 31.03.2025 Rs.'000 | 31.03.2024 Rs.'000 | |
Tea | ||||
Revenue | 4,819,611 | 4,676,563 | 4,819,611 | 4,676,563 |
Revenue expenditure | (3,722,044) | (3,600,657) | (3,722,044) | (3,600,657) |
Segment Result-Gross Profit/(Loss) | 1,097,567 | 1,075,906 | 1,097,567 | 1,075,906 |
Rubber | ||||
Revenue | 217,387 | 191,066 | 217,387 | 191,066 |
Revenue expenditure | (223,340) | (265,999) | (223,340) | (265,999) |
Segment Result-Gross Profit/(Loss) | (5,953) | (74,933) | (5,953) | (74,933) |
Oil Palm | ||||
Revenue | 2,080,349 | 1,945,203 | 2,080,349 | 1,945,203 |
Revenue expenditure | (1,018,451) | (897,187) | (1,018,451) | (897,187) |
Segment Result-Gross Profit/(Loss) | 1,061,898 | 1,048,016 | 1,061,898 | 1,048,016 |
Others | ||||
Revenue | 574,902 | 391,195 | 565,196 | 378,909 |
Revenue expenditure | (344,737) | (242,993) | (330,180) | (229,490) |
Segment Result-Gross Profit/(Loss) | 230,165 | 148,202 | 235,016 | 149,419 |
All Segments | ||||
Revenue | 7,692,249 | 7,204,027 | 7,682,543 | 7,191,741 |
Revenue expenditure | (5,308,572) | (5,006,836) | (5,294,015) | (4,993,333) |
Segment Result-Gross Profit/(Loss) | 2,383,677 | 2,197,191 | 2,388,528 | 2,198,408 |
Gain on fair value of biological assets | 400,966 | 247,207 | 400,966 | 247,207 |
Other income | 153,401 | 176,774 | 189,496 | 219,311 |
Administration expenses | (1,131,943) | (850,798) | (1,126,948) | (847,126) |
Management overheads and employees incentives | (127,913) | (158,025) | (127,913) | (158,025) |
Finance cost | (83,915) | (82,485) | (83,915) | (82,485) |
Finance income | 233,761 | 380,707 | 233,643 | 380,554 |
Share of profit from joint ventures | 106,966 | 77,183 | - | - |
Profit before taxation | 1,935,000 | 1,987,754 | 1,873,857 | 1,957,844 |
For the three months ended | Group | Company | ||
31.03.2025 Rs.'000 | 31.03.2024 Rs.'000 | 31.03.2025 Rs.'000 | 31.03.2024 Rs.'000 | |
Tea | ||||
Revenue | 1,268,563 | 1,356,930 | 1,268,563 | 1,356,930 |
Revenue expenditure | (1,332,176) | (1,523,359) | (1,332,176) | (1,523,359) |
Segment Result-Gross Profit/(Loss) | (63,613) | (166,429) | (63,613) | (166,429) |
Rubber | ||||
Revenue | 66,749 | 75,291 | 66,749 | 75,291 |
Revenue expenditure | (25,541) | (111,932) | (25,541) | (111,932) |
Segment Result-Gross Profit/(Loss) | 41,208 | (36,641) | 41,208 | (36,641) |
Oil Palm | ||||
Revenue | 462,981 | 388,574 | 462,981 | 388,574 |
Revenue expenditure | (142,183) | (221,289) | (142,183) | (221,289) |
Segment Result-Gross Profit/(Loss) | 320,798 | 167,285 | 320,798 | 167,285 |
Others | ||||
Revenue | 244,237 | 152,969 | 243,232 | 152,256 |
Revenue expenditure | (107,958) | 233,217 | (104,436) | 237,091 |
Segment Result-Gross Profit/(Loss) | 136,279 | 386,186 | 138,796 | 389,347 |
All Segments | ||||
Revenue | 2,042,530 | 1,973,764 | 2,041,525 | 1,973,051 |
Revenue expenditure | (1,607,858) | (1,623,363) | (1,604,336) | (1,619,489) |
Segment Result-Gross Profit/(Loss) | 434,672 | 350,401 | 437,189 | 353,562 |
Gain on fair value of biological assets | 400,966 | 247,207 | 400,966 | 247,207 |
Other income | 21,942 | 97,501 | 64,722 | 140,045 |
Administration expenses | (446,396) | (292,723) | (444,042) | (291,404) |
Management overheads and employees incentives | 6,425 | (15,458) | 6,425 | (15,458) |
Finance cost | (21,786) | (46,577) | (21,786) | (46,577) |
Finance income | 66,393 | 55,317 | 66,380 | 55,268 |
Share of profit from joint ventures | 35,473 | 3,647 | - | - |
Profit before taxation | 497,689 | 399,315 | 509,854 | 442,643 |
*Figures in brackets indicate deductions. The above figures are subject to audit
NOTES TO THE FINANCIAL STATEMENTS
FINANCIAL INFORMATION - CONTD.
2 | Corporate Information |
Elpitiya Plantations PLC was incorporated on 22 June 1992 under the Companies Act. No. 17 of 1982 (The Company was re-registered under the Companies Act No. 07 of 2007) in terms of the provisions of the Conversion of Public Corporation and Government Owned Business Undertakings into Public Companies Act No. 23 of 1987. The registered office of the Company is located at No. 315, Vauxhall Street, Colombo 02, and Plantations are situated in the planting districts of Nuwara Eliya and Galle. The Ordinary shares of the company are listed on the Colombo Stock Exchange. | |
3 | Interim Financial Statements |
Interim financial statements for the period ended 31.03.2025, includes "the Company" referring to Elpitiya Plantations PLC., as the holding company and "the Group" referring to the companies whose accounts have been consolidated therein. | |
4 | Approval of Financial Statements |
The interim condensed financial statements of the Group and the Company for the Twelve months ended 31 March 2025 were authorised for issue by the Board of Directors on 27 May 2025. | |
5 | Basis of preparation and changes to the accounting policies |
Interim Financial Statements of the company and the group have been prepared based on the Sri Lanka Accounting Standards that came into effect from January 01,2012 (SLFRS/LKAS).There were no changes to the Accounting Policies and methods of computation since the publication of the annual report 2023/2024. Further these Interim Financial Statements have been prepared in compliance with the requirement of the Sri Lanka Accounting Standard-LKAS 34 on Interim Financial Reporting. | |
The accounting policies have been consistently applied by the Group and are consistent with those used in the previous financial year. The presentation and classification of the financial statements of the previous period have been adjusted where relevant, for better presentation and to be comparable with current reporting. | |
6 | Retirement benefit obligation |
The Secretary to the Ministry of Labour and Foreign Employment, by Extraordinary Gazette No. 2401/24 dated 12th September 2024, increased the minimum daily wage for time work in the Tea Growing and Manufacturing Trade and the Rubber Cultivation and Raw Rubber Processing Trade from Rs. 1,000 to Rs. 1,350, effective from 10th September 2024. Accordingly, the Company has recognised the increased liability arising from this wage revision in the retirement benefit obligation as at 31st March 2025. Actuarial valuation adjustments and other related impacts have been duly incorporated in these financial statements. | |
7 | Net assets per share |
Net assets per share have been calculated for all periods based on the number of shares in issue, as at 31 March 2025. |
8 | Contingencies, capital and other commitments |
There were no liabilities for management fees or any other similar expenditure not provided for in the interim financial statements. |
During the period under review there were no material change in the nature of contingencies and other commitments, which were disclosed in the annual report for the year ended 31st March 2024.
9 | Events after the reporting period |
No circumstances have arisen since the Statement of Financial Position date which would require adjustments/disclosures to the Interim Financial statements. |
1 | Top 20 Shareholders as at 31.03.2025 | ||
Name of the Shareholder | Shareholding | % | |
1 | Aitken Spence Plantation Managements Ltd | 44,917,354 | 61.64% |
2 | Secretary to the Treasury | 15,613,092 | 21.43% |
3 | Melbourne Rolling Mill (Pvt) Ltd | 640,257 | 0.88% |
4 | Mr. T.T.T. Al-Nakib (Deceased) | 500,000 | 0.69% |
5 | Tranz Dominion, L.L.C. | 315,000 | 0.43% |
6 | Mr. K.R.E.M.D.M.B. Jayasundara | 259,463 | 0.36% |
7 | Dr. R.D. Bandaranaike (Joint with Mrs. A.D. Bandaranaike) | 210,696 | 0.29% |
8 | Estate of Late K.C. Vignarajah | 205,428 | 0.28% |
9 | Mr. G.D.M. Ranasinghe (Joint with Mrs. O.R.K. Ranasinghe) | 141,041 | 0.19% |
10 | Melbourne Metal (Pvt) Ltd | 126,235 | 0.17% |
11 | Mr. D.A. Cabraal | 125,000 | 0.17% |
12 | Senkadagala Finance PLC / Prempra Capital (Pvt) Ltd | 84,000 | 0.12% |
13 | Mr. V.C. Mahtani (Joint with Mrs. M.V. Mahtani) | 81,061 | 0.11% |
14 | Mr. S. Weeraratne (Joint with Mr. P.N. Weeraratne) | 80,504 | 0.11% |
15 | Mr. S. Malalasekera | 77,400 | 0.11% |
16 | Mr. E.J. Gnanam | 75,000 | 0.10% |
16 | Mr. U.D. Wickremesooriya (Joint with Mrs. S.F. Wickremesooriya) | 75,000 | 0.10% |
18 | Mrs. J. Thiruvathavoorar | 71,930 | 0.10% |
19 | Mr. J.D. Bandaranayake (Joint with Miss N. Bandaranayake, Dr. V. Bandaranayake) | 70,000 | 0.10% |
19 | Mr. J.D. Bandaranayake (Joint with Dr. V. Bandaranayake, Miss I. Bandaranayake) | 70,000 | 0.10% |
Total No. of Shares | 63,738,461 | 87.48% |
NOTES TO THE FINANCIAL STATEMENTS
NON FINANCIAL INFORMATION (CONTD.)
2 | Shareholding as at 31.03.2025 | ||
Shareholder | No of Shares | % | |
Aitken Spence Plantation Managements PLC. | 44,917,354 | 61.64% | |
Secretary to the Treasury | 15,613,092 | 21.43% | |
Public Holding | 12,335,984 | 16.93% | |
Total No. of Shares issued | 72,866,430 | 100.00% |
3 | Public Shareholding |
Number of shares represented by the stated capital | |
Number of shares held by the public shareholders | |
Percentage of shares held by the public | |
Number of public shareholders | |
Float adjusted market capitalisation (in Rs.) |
31.03.2025 |
72,866,430 |
12,335,984 |
16.93% |
11,974 |
1,452,562,116 |
As the float-adjusted market capitalisation is more than Rs. 1 billion with more than 7.5% public holding, Elpitiya Plantations PLC complies under Option 1 in terms of Rule 7.13.1(b) (for Diri Savi Board companies) of the Listing Rules of the Colombo Stock Exchange.
4 | Directors' Shareholdings |
No shares were held by the Board of Directors (including their spouses) as at 31.03.2025 (As at 31.03.2024 - Nil). |
5 | Shares traded | 31.03.2025 | 31.03.2024 |
Rs. | Rs. | ||
Highest price recorded for the year ended | 140.00 | 106.00 | |
Lowest price recorded for the year ended | 90.00 | 69.50 | |
Last traded price | 117.75 | 104.50 |
Highest price recorded for the three months ending | 140.00 | 106.00 |
Lowest price recorded for the three months ending | 110.00 | 83.00 |
CORPORATE AND GROUP INFORMATION
NAME |
ELPITIYA PLANTATIONS PLC |
LEGAL FORM |
A Public Quoted Company with Limited Liability, incorporated in Sri Lanka on 22nd June 1992. |
COMPANY REGISTRATION NO |
PQ 171 |
REGISTERED OFFICE |
315, Vauxhall Street, Colombo 02, Sri Lanka |
BUSINESS ADDRESS |
No. 305, Vauxhall Street, Colombo 02, Sri Lanka. |
DIRECTORS |
Dr. M P Dissanayake - Chairman |
Dr. R M Fernando - Managing Director |
Mr. Malik J Fernando |
Mr. D A De S Wickramanayake |
Ms. M D A Perera (appointed w.e.f. 27.08.2024) |
Prof. A S Dharmasiri (appointed w.e.f. 01.01.2025) |
Mr. M J S Rajakariar (appointed w.e.f. 01.01.2025) |
Dr. R A Fernando (appointed w.e.f. 01.01.2025) |
Ms. M K D N Madampe (appointed w.e.f. 27.11.2024) |
Mr. B Bulumulla (Demised on 15.03.2025) |
Dr. S A B Ekanayaka (ceased w.e.f. 31.12.2024) |
Mr. S C Ratwatte (ceased w.e.f. 31.12.2024) |
Ms. M K G Peiris (ceased w.e.f. 27.11.2024) |
Mr. D C Fernando (ceased w.e.f. 01.08.2024) |
Ms. D A S Dahanayake (ceased w.e.f. 31.05.2024) |
GROUP COMPANIES |
Escape Parks Ceylon (Private) Limited* |
Water Villas (Private ) Limited * |
EPP Hydro Power (Private) Limited |
Harrow House (Private) Limited * |
The Dunsinane Valley Company (Private) Limited* |
Note - *Commercial operations have not been commenced.
JOINT VENTURE COMPANIES |
AEN Palm Oil Processing (Private) Limited |
Elpitiya Harrow Tea Company (Private) Limited |
Elpitiya Lifestyle Solutions (Private) Limited |
Ceylon Agro Food Technologies (Private) Limited |