First Capital Holdings PLC
PROVISIONAL FINANCIAL STATEMENTS
REVIEW OF OPERATIONS
First Capital Holdings PLC (the Group) recorded a Total Comprehensive Income of Rs. 4.53Bn for the nine months ended 31 December 2024 compared to Rs. 9.35Bn recorded in the corresponding period of the previous year.
The Group's Net Income before Operating Expenses for the nine months of 2024/25 was Rs. 7.69Bn compared to Rs. 17.90Bn reported in the corresponding period of the previous year. The significant variance is due to the extraordinary gains realised in the last year resulting from a substantial decline in interest rates, and post- domestic debt optimisation along with reduction in policy interest rates.
The Primary Dealer division reported a Profit after Tax of Rs. 2.45Bn for the nine months ended 31 December 2024 (2023/24 - Profit after Tax of Rs. 10.06Bn). The Results include a trading gain on sale of government securities portfolio amounting to Rs. 2.58Bn and net interest income of Rs. 1.30Bn (2023/24 - Net trading gain on sale of government securities portfolio of Rs. 14.34Bn and net interest income of Rs. 2.64Bn were included).
The Corporate Finance Advisory and Dealing Securities division reported a Profit after Tax of Rs. 1.94Bn for the nine months ended 31 December 2024 (2023/24 - Profit after Tax of Rs. 77Mn). The significant increase in Profit after Tax is due to the fair valuation gain of Rs. 2.23Bn on the business unit's Equity portfolio.
The Wealth Management division reported a Profit after Tax of Rs. 90Mn for the nine months ended 31 December 2024 (2023/24 - Profit after Tax of Rs. 20Mn). The assets under management of the division stood at Rs. 105.1Bn as of 31 December 2024 (31 March 2024 - Rs. 94Bn).
The Stock Brokering division recorded a Profit after Tax of Rs. 39Mn for the nine months ended 31 December 2024 (2023/24 - Profit after tax of Rs. 27Mn).
The Company reached an outstanding milestone at the SLIM Brand Excellence Awards 2024, where it was awarded the prestigious "Brand of the Year" title. Additionally, for the third consecutive year, the company was acknowledged as a Great Place to Work.
(Sgd.)
Dilshan Wirasekara
Managing Director/ CEO
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 1 |
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Group | |||||
For the period | October ~ December | April ~ December | |||
2024 | 2023 | 2024 | 2023 | ||
Notes | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Income | 4,428,106 | 5,773,372 | 10,724,643 | 23,730,480 | |
Direct income | 4,422,005 | 5,773,127 | 10,704,119 | 23,727,842 | |
Direct expenses | (2,165,266) | (2,822,949) | (5,906,382) | (7,590,628) | |
Net trading income | 2,256,739 | 2,950,178 | 4,797,737 | 16,137,214 | |
Other income | 6,101 | 245 | 20,524 | 2,638 | |
Gain / (Loss) on fair valuation of financial assets recognised through profit or | 3,529,196 | (1,661,939) | 2,870,420 | 1,760,065 | |
loss measured at fair value | |||||
5,792,036 | 1,288,484 | 7,688,681 | 17,899,917 | ||
Operating expenses | |||||
Administrative expenses | (1,003,765) | (307,100) | (1,591,522) | (2,808,924) | |
Sales and distribution expenses | (10,726) | (17,003) | (13,171) | (49,685) | |
Other operating expenses | (247,182) | (96,165) | (356,187) | (481,603) | |
(Provision)/ Reversal for impairment of financial assets at amortised cost | (64,395) | 5,092 | (30,258) | 37,647 | |
(1,326,068) | (415,176) | (1,991,138) | (3,302,565) | ||
Profit before tax | 4,465,968 | 873,308 | 5,697,543 | 14,597,352 | |
Income tax expense | 1 | (837,710) | (1,110,060) | (1,171,903) | (5,241,515) |
Profit/ (Loss) for the period | 3,628,258 | (236,752) | 4,525,640 | 9,355,837 | |
Other comprehensive income/ (loss) | |||||
Items that will never be reclassified to profit or loss
Gain/(Loss) on financial assets fair value through other comprehensive income
Other comprehensive income/(loss) for the period
Total comprehensive income/ (loss) for the period
Profit/ (Loss) attributable to:
Equity holders of the parent
Non - controlling interest
- | - | 6,874 | (10,057) | |||
- | - | 6,874 | (10,057) | |||
3,628,258 | (236,752) | 4,532,514 | 9,345,780 | |||
3,428,190 | (327,302) | 4,263,435 | 8,285,005 | |||
200,068 | 90,550 | 262,205 | 1,070,832 | |||
3,628,258 | (236,752) | 4,525,640 | 9,355,837 | |||
Total comprehensive income/ (loss) attributable to: | |||||
Equity holders of the parent | 3,428,190 | (327,302) | 4,270,309 | 8,274,948 | |
Non - controlling interest | 200,068 | 90,550 | 262,205 | 1,070,832 | |
3,628,258 | (236,752) | 4,532,514 | 9,345,780 | ||
Basic earnings/ (loss) per share (Rs.) | 2 | 8.46 | (0.81) | 10.53 | 20.46 |
Figures in bracket indicate deductions. | |||||
Note: All values are in Rupees '000 unless otherwise stated. | |||||
2 | (2,590) |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 2 |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
Company | ||||||||
For the period | October ~ December | April ~ December | ||||||
2024 | 2023 | 2024 | 2023 | |||||
Notes | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | ||||
Income | 307,791 | 400,651 | 869,174 | 1,744,148 | ||||
Direct income | 307,791 | 400,649 | 869,131 | 1,744,146 | ||||
Direct expenses | (345,712) | (424,049) | (895,835) | (1,521,350) | ||||
Net trading income / (expenses) | (37,921) | (23,400) | (26,704) | 222,796 | ||||
Other income | - | 2 | 43 | 2 | ||||
Gain on fair valuation of financial assets recognised through profit or loss | 1,745,187 | 118,142 | 2,010,954 | 292,248 | ||||
measured at fair value | ||||||||
1,707,266 | 94,744 | 1,984,293 | 515,046 | |||||
Operating expenses | ||||||||
Administrative expenses | (127,535) | (141,120) | (228,823) | (355,224) | ||||
Sales and distribution expenses | (12,247) | (1,275) | - | (4,576) | ||||
Other operating expenses / (reversal) | (2,129) | 15,310 | (5,705) | (20,419) | ||||
(Provision)/ reversal for impairment of financial assets at amortised cost | 470 | (18,894) | 8,293 | 13,500 | ||||
(141,441) | (145,979) | (226,235) | (366,719) | |||||
Operating profit / (loss) | 1,565,825 | (51,235) | 1,758,058 | 148,327 | ||||
Share of profit/ (loss) from equity accounted investee (net of tax) | 1,871,362 | (298,194) | 2,530,724 | 8,186,435 | ||||
Profit / (Loss) before tax | 3,437,187 | (349,429) | 4,288,782 | 8,334,762 | ||||
Income tax expense / (reversal) | 1 | (8,997) | 22,127 | (25,347) | (49,757) | |||
Profit / (Loss) for the period | 3,428,190 | (327,302) | 4,263,435 | 8,285,005 | ||||
Other comprehensive income | ||||||||
Items that will never be reclassified to profit or loss | ||||||||
Share of other comprehensive income/(loss) from equity accounted investee | - | - | 6,874 | (10,057) | ||||
Other comprehensive income/(loss) for the period | - | - | 6,874 | (10,057) | ||||
Total comprehensive income / (loss) for the period | 3,428,190 | (327,302) | 4,270,309 | 8,274,948 | ||||
Basic earnings/ (loss) per share (Rs.) | 2 | 8.46 | (0.81) | 10.53 | 20.46 | |||
Figures in bracket indicate deductions. | ||||||||
Note: All values are in Rupees '000 unless otherwise stated. |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 3 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Group | Company | |||||||
As at | 31 December | 31 March | 31 December | 31 March | ||||
2024 | 2024 | 2024 | 2024 | |||||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | |||||
ASSETS | ||||||||
Cash at banks and in hand | 432,395 | 178,382 | 120,597 | 76,453 | ||||
Derivative financial instruments | 4,750 | 51,933 | - | - | ||||
Financial assets recognised through profit or loss -measured at fair value | 74,807,156 | 62,529,964 | 7,484,759 | 4,199,601 | ||||
Financial assets - fair value through other comprehensive income | 65,233 | 83,350 | 7,500 | 5,000 | ||||
Financial assets at amortised cost | 15,836,547 | 11,170,905 | 7,694,866 | 6,658,126 | ||||
Amounts due from related companies | 15,672 | - | 20,458 | 49,896 | ||||
Trade and other receivables | 1,542,847 | 3,686,573 | 35,333 | 2,045,044 | ||||
Non - current assets held for sale | 42,416 | 42,416 | - | - | ||||
Taxes receivable | 75,105 | 133,206 | 1,568 | 46,029 | ||||
Investment in subsidiary | - | - | 9,536,425 | 6,998,827 | ||||
Deferred tax asset | 608,656 | 151,457 | 64,413 | 9,216 | ||||
Property, plant and equipment and right of use assets | 591,223 | 518,957 | 26,643 | 27,151 | ||||
Intangible assets | 131,536 | 123,441 | 8,549 | 4,228 | ||||
TOTAL ASSETS | 94,153,536 | 78,670,584 | 25,001,111 | 20,119,571 | ||||
LIABILITIES | ||||||||
Bank overdrafts | 1,432,575 | 1,533,643 | 1,250,956 | 1,280,713 | ||||
Derivative financial instruments | 155,375 | 71,742 | - | - | ||||
Securities sold under re-purchase agreements | 63,246,801 | 50,051,368 | - | - | ||||
Short term borrowings | 9,276,772 | 5,488,529 | 8,767,961 | 5,646,043 | ||||
Amounts due to related companies | 24,945 | 2,375 | 21,828 | 13,579 | ||||
Trade and other payables | 2,092,662 | 6,069,759 | 159,768 | 2,410,319 | ||||
Deferred tax liability | - | 17,503 | - | - | ||||
Taxes payable | 1,194,999 | 3,033,571 | - | - | ||||
Long term borrowings | 1,201,310 | 1,602,001 | 1,201,310 | 1,602,001 | ||||
Retirement benefit obligations | 95,855 | 84,466 | 19,813 | 19,365 | ||||
Borrowings on debentures | 2,959,249 | 2,775,148 | 2,190,168 | 2,028,553 | ||||
TOTAL LIABILITIES | 81,680,543 | 70,730,105 | 13,611,804 | 13,000,573 | ||||
EQUITY | ||||||||
Stated capital | 227,500 | 227,500 | 227,500 | 227,500 | ||||
Risk reserve | 2,712,104 | 2,492,889 | 2,712,104 | 2,492,889 | ||||
Retained earnings | 8,477,997 | 4,436,368 | 8,477,997 | 4,436,368 | ||||
Fair valuation reserve | (28,294) | (37,759) | (28,294) | (37,759) | ||||
Equity attributable to the equity holders of the parent | 11,389,307 | 7,118,998 | 11,389,307 | 7,118,998 | ||||
Non- controlling interest | 1,083,686 | 821,481 | - | - | ||||
TOTAL EQUITY | 12,472,993 | 7,940,479 | 11,389,307 | 7,118,998 | ||||
TOTAL EQUITY AND LIABILITIES | 94,153,536 | 78,670,584 | 25,001,111 | 20,119,571 | ||||
Net asset per share (Rs.) | 28.12 | 17.58 | 28.12 | 17.58 |
Note: All values are in Rupees '000 unless otherwise stated.
These consolidated financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007.
Mangala Jayashantha
Chief Financial Officer
The Board of Directors is responsible for the preparation and presentation of these consolidated financial statements. Approved and signed for and on behalf of the Board.
Dilshan Wirasekara | Rajendra Theagarajah |
Managing Director/ CEO | Chairman |
14 February 2025 | |
Colombo. | |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 4 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For nine months ended 31 December 2024 | Attributable to equity holders of the parent | Non- | Total | ||||
Stated | Risk | Retained | Fair Valuation | Total | controlling | Equity | |
Capital | Reserve | Earnings | Reserve | Interest | |||
Group | |||||||
Balance as at 1 April 2023 (Audited) | 227,500 | 1,497,150 | 4,586,330 | (215,818) | 6,095,162 | 585,671 | 6,680,833 |
Total comprehensive income for the period | |||||||
Profit for the period | - | - | 8,285,005 | - | 8,285,005 | 1,070,832 | 9,355,837 |
Other comprehensive loss | - | - | - | (10,057) | (10,057) | - | (10,057) |
Total comprehensive income /(loss) | - | - | 8,285,005 | (10,057) | 8,274,948 | 1,070,832 | 9,345,780 |
Transactions with equity holders | |||||||
Dividend paid (Interim 2022/23) | - | - | (911,250) | - | (911,250) | - | (911,250) |
Dividend paid (Interim - 2023/24) | - | - | (4,961,250) | - | (4,961,250) | - | (4,961,250) |
Dividend paid to shareholders with NCI* | - | - | - | - | - | (655,060) | (655,060) |
Adjustment due to disposal of equity investment (FVTOCI) | - | - | (214,030) | 214,030 | - | - | - |
Loss on sale of equity investment (FVTOCI) | - | - | (211) | 211 | - | - | - |
Total distribution to equity holders | - | - | (6,086,741) | 214,241 | (5,872,500) | (655,060) | (6,527,560) |
Transfers to risk reserve | - | 899,024 | (899,024) | - | - | - | - |
Balance as at 31 December 2023 (Unaudited) | 227,500 | 2,396,174 | 5,885,570 | (11,634) | 8,497,610 | 1,001,443 | 9,499,053 |
Balance as at 1 April 2024 (Audited) | 227,500 | 2,492,889 | 4,436,368 | (37,759) | 7,118,998 | 821,481 | 7,940,479 |
Total comprehensive income for the period | |||||||
Profit for the period | - | - | 4,263,435 | - | 4,263,435 | 262,205 | 4,525,640 |
Other comprehensive income | - | - | - | 6,874 | 6,874 | - | 6,874 |
Total comprehensive income / (loss) | - | - | 4,263,435 | 6,874 | 4,270,309 | 262,205 | 4,532,514 |
Transactions with equity holders | |||||||
Loss on sale of FVTOCI Investments | - | - | (2,591) | 2,591 | - | - | - |
Total distribution to equity holders | - | - | (2,591) | 2,591 | - | - | - |
Transfers to risk reserve | - | 219,215 | (219,215) | - | - | - | - |
Balance as at 31 December 2024 (Unaudited) | 227,500 | 2,712,104 | 8,477,997 | (28,294) | 11,389,307 | 1,083,686 | 12,472,993 |
* Non controlling interest |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 5 |
STATEMENT OF CHANGES IN EQUITY
Fair | |||||||
For nine months ended 31 December 2024 | Stated | Risk | Retained | Valuation | Total | ||
Capital | Reserve | Earnings | Reserve | Equity | |||
Company | |||||||
Balance as at 1 April 2023 (Audited) | 227,500 | 1,497,150 | 4,586,330 | (215,818) | 6,095,162 | ||
Total comprehensive income for the period | |||||||
Profit for the period | - | - | 8,285,005 | - | 8,285,005 | ||
Other comprehensive loss | - | - | - | (10,057) | (10,057) | ||
Total comprehensive income | - | - | 8,285,005 | (10,057) | 8,274,948 | ||
Transactions with equity holders | |||||||
Dividend paid (2022/23) | - | - | (911,250) | - | (911,250) | ||
Dividend paid (Interim - 2023/24) | - | - | (4,961,250) | - | (4,961,250) | ||
Adjustment due to disposal of equity investment (FVTOCI) | - | - | (214,030) | 214,030 | - | ||
Loss on sale of equity investment (FVTOCI) | - | - | (211) | 211 | - | ||
Total distribution to equity holders | - | - | (6,086,741) | 214,241 | (5,872,500) | ||
Transfer to risk reserve | - | 899,024 | (899,024) | - | - | ||
Balance as at 31 December 2023 (Unaudited) | 227,500 | 2,396,174 | 5,885,570 | (11,634) | 8,497,610 | ||
Balance as at 1 April 2024 (Audited) | 227,500 | 2,492,889 | 4,436,368 | (37,759) | 7,118,998 | ||
Total comprehensive income for the period | |||||||
Profit for the period | - | - | 4,263,435 | - | 4,263,435 | ||
Other comprehensive income | - | - | - | 6,874 | 6,874 | ||
Total comprehensive income | - | - | 4,263,435 | 6,874 | 4,270,309 | ||
Transactions with equity holders | |||||||
Loss on sale of FVTOCI Investments | - | - | - | - | (2,591) | 2,591 | - |
Total distribution to equity holders | - | - | (2,591) | 2,591 | - | ||
Transfer to risk reserve | - | 219,215 | (219,215) | - | - | ||
Balance as at 31 December 2024 (Unaudited) | 227,500 | 2,712,104 | 8,477,997 | (28,294) | 11,389,307 | ||
Figures in bracket indicate deductions. | |||||||
Note: All values are in Rupees '000 unless otherwise stated. |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 6 |
CONSOLIDATED STATEMENT OF CASH FLOWS
Group | Company | |||
For the period | April ~ December | April ~ December | ||
2024 | 2023 | 2024 | 2023 | |
Unaudited | Unaudited | Unaudited | Unaudited | |
Cash flows from operating activities | ||||
Interest receipts and gains realised | 10,455,354 | 23,559,094 | 864,546 | 1,744,146 |
Interest payments and other direct cost | (4,287,325) | (6,083,810) | (927,377) | (1,361,168) |
Other receipts | 18,613 | 2,317 | - | 2 |
Cash payments to employees and suppliers | (1,858,916) | (3,311,019) | (223,919) | (113,777) |
Operating profit/ (loss) before changes in operating assets and liabilities | 4,327,726 | 14,166,582 | (286,750) | 269,203 |
Increase in financial assets recognised through profit or loss -measured at fair | (9,275,955) | (36,984,870) | (1,274,204) | (2,269,015) |
value | ||||
(Increase)/ Decrease in financial assets at amortised cost | (4,598,547) | (139,017) | (1,023,863) | 2,104,416 |
(Increase)/ Decrease in trade and other receivables | 2,143,726 | (153,979) | 2,009,711 | 898,744 |
(Increase)/ Decrease in group balances receivable | (15,672) | - | 29,438 | (43,810) |
Increase/ (Decrease) in trade and other payables | (1,952,100) | 1,285,178 | (225,553) | 46,130 |
Increase in group balances payable | 22,570 | 8,806 | 8,249 | 9,305 |
Increase/ (Decrease) in other short term borrowings | 3,780,563 | (77,134) | 3,114,385 | (45,350) |
Increase in borrowings against re-purchase agreements | 11,567,466 | 30,358,061 | - | - |
Cash generated from operations | 5,999,777 | 8,463,627 | 2,351,413 | 969,623 |
Tax paid | (3,427,075) | (2,602,003) | (36,084) | (111,379) |
Gratuity paid | (1,653) | (6,910) | (1,653) | - |
Net cash flow generated from operating activities | 2,571,049 | 5,854,714 | 2,313,676 | 858,244 |
Cash flow from investing activities | ||||
Purchase of property, plant, equipment and intangible assets | (169,301) | (194,586) | (12,318) | (15,662) |
Proceeds from disposal of property plant and equipment | 1,930 | 321 | 43 | - |
Dividend receipts | 151,412 | 38,316 | - | 4,175,732 |
Investment in financial assets - fair value through other comprehensive income | (2,500) | (5,000) | (2,500) | (5,000) |
Proceeds from disposal of financial assets - fair value through other comprehensive | 27,491 | 2,241 | - | - |
income | ||||
Net cash flow generated from/ (used in) investing activities | 9,032 | (158,708) | (14,775) | 4,155,070 |
Cash flow from financing activities | ||||
Dividend paid (Interim 2022/23) | - | (911,250) | - | (911,250) |
Dividend paid (Interim - 2023/24) | (2,025,000) | (4,961,250) | (2,025,000) | (4,961,250) |
Dividend paid to shareholders with NCI* | - | (655,060) | - | - |
Repayment of long term borrowings | (200,000) | (200,000) | (200,000) | (200,000) |
Net cash flow generated from /(used in) financing activities | (2,225,000) | (6,727,560) | (2,225,000) | (6,072,500) |
Net cash inflow/ (outflow) for the period | 355,081 | (1,031,554) | 73,901 | (1,059,186) |
Cash and cash equivalents at the beginning of the period | (1,355,261) | (337,822) | (1,204,260) | (174,306) |
Cash and cash equivalents at the end of the period (Note A) | (1,000,180) | (1,369,376) | (1,130,359) | (1,233,492) |
Note A | ||||
Cash at bank and hand | 432,395 | 201,478 | 120,597 | 84,115 |
Bank overdraft | (1,432,575) | (1,570,854) | (1,250,956) | (1,317,607) |
(1,000,180) | (1,369,376) | (1,130,359) | (1,233,492) | |
Figures in bracket indicate deductions. | ||||
Note: All values are in Rupees '000 unless otherwise stated. |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 7 |
NOTES TO THE FINANCIAL STATEMENTS
1 | Income tax expenses | ||||
For the period - Group | October ~ December | April ~ December | |||
2024 | 2023 | 2024 | 2023 | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
Current tax expenses | (1,027,955) | (310,899) | (1,357,422) | (4,488,997) | |
Over/(Under) provision for taxes | (289,182) | - | (289,182) | - | |
Deferred tax (expenses)/ assets | 479,427 | 25,980 | 474,701 | 72,623 | |
WHT on intercompany dividend | - | (825,141) | - | (825,141) | |
(837,710) | (1,110,060) | (1,171,903) | (5,241,515) | ||
For the period - Company | October ~ December | April ~ December | |||
2024 | 2023 | 2024 | 2023 | ||
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | ||
Current tax expenses | (24,319) | 16,851 | (38,200) | (45,216) | |
Over/(Under) provision for taxes | (42,345) | - | (42,345) | - | |
Deferred tax (expenses)/ assets | 57,667 | 5,276 | 55,198 | (4,541) | |
(8,997) | 22,127 | (25,347) | (49,757) |
- Basic earnings per share (EPS)
Earnings per share has been calculated by dividing the net profit attributable to equity holders of the Company by the weighted average number of ordinary shares in issue during the period. - These Provisional Financial Statements for the quarter ended 31 December 2024 have been prepared in accordance with Sri Lanka Accounting Standard (LKAS 34) "Interim Financial Reporting".
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 8 |
NOTES TO THE FINANCIAL STATEMENTS
4 Financial instruments- Fair Value Measurement
The Company measures fair values using the following fair value hierarchy that reflects the significance of the inputs used in making the measurements in accordance with SLFRS 13.
Level - 1
Financial instruments that are measured in whole or in part by reference to published quotes in an active market. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange and those prices represent actual and regularly occurring market transactions on an arm's length basis.
Level - 2
Financial instruments that are measured at fair value on a recurring basis. As market quotes generally are not readily available or accessible for these securities, their fair value measures are determined using relevant information generated by market transactions involving comparable securities.
Level - 3
Valuation techniques using significant unobservable inputs. This category includes all instruments where the valuation technique includes inputs not based on observable data and the unobservable inputs have a significant effect on the instrument's valuation. This category includes instruments that are valued based on quoted prices for similar instruments where significant unobservable adjustments or assumptions are required to reflect differences between the instruments.
4.1 Fair values versus the Carrying amounts | ||||
The fair values of financial assets and liabilities, together with the carrying amounts shown in the Statement of Financial Position are | ||||
as follows; | ||||
Group | As at 31.12.2024 | As at 31.03.2024 | ||
Carrying | Fair Value | Carrying | Fair Value | |
Amount | Amount | |||
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Financial assets measured at fair value | ||||
Derivative financial instruments | 4,750 | 4,750 | 51,933 | 51,933 |
Financial assets recognised through profit or loss - measured at | 74,807,156 | 74,807,156 | 62,529,964 | 62,529,964 |
fair value | ||||
Financial assets - fair value through other comprehensive | 65,233 | 65,233 | 83,350 | 83,350 |
income | ||||
74,877,139 | 74,877,139 | 62,665,247 | 62,665,247 | |
Financial assets not measured at fair value | ||||
Cash at banks and in hand | 432,395 | 432,395 | 178,382 | 178,382 |
Financial assets at amortised cost | 15,836,547 | 15,836,547 | 11,170,905 | 11,170,905 |
Amounts due from related companies | 15,672 | 15,672 | - | - |
Trade receivables | 771,899 | 771,899 | 537,457 | 537,457 |
17,056,513 | 17,056,513 | 11,886,744 | 11,886,744 | |
Total financial assets | 91,933,652 | 91,933,652 | 74,551,991 | 74,551,991 |
Financial liabilities measured at fair value | ||||
Derivative financial instruments | 155,375 | 155,375 | 71,742 | 71,742 |
155,375 | 155,375 | 71,742 | 71,742 | |
Financial liabilities not measured at fair value | ||||
Bank overdrafts | 1,432,575 | 1,432,575 | 1,533,643 | 1,533,643 |
Amounts due to related companies | 24,945 | 24,945 | 2,375 | 2,375 |
Trade and other payables | 2,092,662 | 2,092,662 | 5,728,347 | 5,728,347 |
Securities sold under re-purchase agreements | 63,246,801 | 63,253,611 | 50,051,368 | 50,260,785 |
Short term borrowings | 9,276,772 | 9,276,772 | 5,488,529 | 5,488,529 |
Long term borrowings | 1,201,310 | 1,201,310 | 1,602,001 | 1,602,001 |
Borrowings on debentures | 2,959,249 | 2,910,797 | 2,775,148 | 2,689,061 |
80,234,314 | 80,192,672 | 67,181,411 | 67,304,741 | |
Total financial liabilities | 80,389,689 | 80,348,047 | 67,253,153 | 67,376,483 |
Provisional Financial Statements | FIRST CAPITAL HOLDINGS PLC |
Quarter ended 31 December 2024 | 9 |
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