PROVISIONAL FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED
30TH SEPTEMBER 2024
Chairman's Review
The first half of the financial year remained challenging for the Company, with a turnover reduction of 29% and Gross Profit reduction of 66%, compared to the previous year. The delay in materializasion of orders from the key customers, was the primary reason for the reduced performance. It is encouraging to note, that our main customers have placed orders with us at the end of the second quarter, which will be exported during the second half of the current financial year.
The Rights Issue to shareholders, which was completed successfully at the end of the second quarter, will significantly reduce our borrowings and consequently financial costs. The prudent approach taken by the management, in controlling the working capital will also contribute to a better future performance.
The key strategic concerns the Board of Directors had was, the need to diversify our portfolio, keeping the core focus on tea. The management worked tirelessly on this issue and we are happy to note, that in the early part of the third quarter, one of the key Global suppliers of herbal products; Muggenburg Group visited Sri Lanka and signed an exclusive distribution agreement with our company. We forecast a great potential in this initiative, as it adds a vital product category to our offering.
I am confident, that the above mentioned initiatives will help us, to deliver better results in the next two quarters.
………………………………………..
S.P.S.Ranatunga
Chairman
13th November 2024
HVA FOODS PLC
Statement of Comprehensive Income
Provisional Financial Statements for the Six months ended 30th September
All amounts in Sri Lanka Rupees
Year Ended | Year Ended | |||||||||
30.09.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 | 30.09.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
Revenue | 747,395,002 | 1,050,757,069 | 230,049,220 | 717,710,843 | 1,842,864,051 | 747,395,002 | 1,050,757,069 | 230,049,220 | 717,710,843 | 1,842,864,051 |
Cost of Sales | (700,186,152) | (911,650,012) | (212,400,593) | (610,827,529) | (1,593,102,961) | (700,186,152) | (911,650,012) | (212,400,593) | (610,827,529) | (1,593,102,961) |
Gross Profit | 47,208,850 | 139,107,057 | 17,648,627 | 106,883,314 | 249,761,090 | 47,208,850 | 139,107,057 | 17,648,627 | 106,883,314 | 249,761,090 |
Other Operating Income | 4,719,321 | 6,644,523 | 2,669,567 | 5,061,408 | 11,309,229 | 4,719,321 | 6,644,523 | 2,669,567 | 5,061,408 | 11,309,229 |
Distribution Expenses | (4,805,785) | (4,596,373) | (3,100,056) | (852,780) | (23,912,533) | (4,805,785) | (4,596,373) | (3,100,056) | (852,780) | (23,912,533) |
Administration Expenses | (94,921,013) | (95,615,954) | (49,282,625) | (42,002,140) | (324,739,311) | (94,844,718) | (95,544,052) | (49,216,330) | (41,982,538) | (324,630,449) |
Results from Operating Activities | (47,798,628) | 45,539,253 | (32,064,486) | 69,089,802 | (87,581,525) | (47,722,333) | 45,611,155 | (31,998,191) | 69,109,404 | (87,472,663) |
Net Finance Costs | (67,722,754) | (148,194,425) | (30,781,923) | (69,082,405) | (240,829,057) | (67,722,254) | (148,194,425) | (30,781,923) | (69,082,405) | (240,827,942) |
Profit / (Loss) Before Income Tax | (115,521,382) | (102,655,172) | (62,846,409) | 7,397 | (328,410,582) | (115,444,587) | (102,583,270) | (62,780,114) | 26,999 | (328,300,605) |
Income Tax Expense | - | - | - | - | 2,180,618 | - | - | - | - | 2,180,618 |
Profit / (Loss) for the Period | (115,521,382) | (102,655,172) | (62,846,409) | 7,397 | (326,229,964) | (115,444,587) | (102,583,270) | (62,780,114) | 26,999 | (326,119,987) |
Other Comprehensive Income | ||||||||||
Actuarial Gain on Retirement Benefit Obligations | - | - | - | - | (2,330,019) | - | - | - | - | (2,330,019) |
Deferred Tax on Actuarial Gain on Retirement Benefit Obligations | - | - | - | - | 702,294 | - | - | - | - | 702,294 |
Revaluation Gain of Property, Plant and Equipment | - | - | - | - | - | - | - | - | - | - |
Deferred Tax on Revaluation of Property, Plant and Equipment | - | - | - | - | - | - | - | - | - | - |
Total Comprehensive Income / (Expense) for the Period | (115,521,382) | (102,655,172) | (62,846,409) | 7,397 | (327,857,689) | (115,444,587) | (102,583,270) | (62,780,114) | 26,999 | (327,747,712) |
Basic Earnings Per Share | (0.47) | (0.88) | (0.26) | 0.00 | (2.81) | (0.47) | (0.88) | (0.26) | 0.00 | (2.81) |
Diluted Earnings Per Share | (0.47) | (0.88) | (0.26) | 0.00 | (2.82) | (0.47) | (0.88) | (0.26) | 0.00 | (2.82) |
Figures in brackets indicate deductions.
HVA FOODS PLC
Statement of Financial Position
Provisional Financial Statements for the Three months ended 30th September
All amounts in Sri Lanka Rupees
As at | 30.09.2024 | 30.09.2023 | 31.03.2024 | 30.09.2024 | 30.09.2023 | 31.03.2024 |
(Unaudited) | (Unaudited) | (Audited) | (Unaudited) | (Unaudited) | (Audited) | |
ASSETS | ||||||
Non-Current Assets | ||||||
Property, Plant & Equipment | 46,320,843 | 59,861,023 | 50,875,260 | 46,320,843 | 59,861,023 | 50,875,260 |
Goodwill | 263,849,498 | 263,849,498 | 263,849,498 | 263,849,498 | 263,849,498 | 263,849,498 |
Investment in Subsidiary | - | - | - | 45,000,001 | 45,000,001 | 45,000,001 |
Intangible Assets | 50,651,797 | 51,962,920 | 51,056,149 | 5,712,800 | 7,023,923 | 6,117,152 |
Deferred Tax Assets | 197,243,520 | 194,360,608 | 197,243,520 | 197,243,520 | 194,360,608 | 197,243,520 |
Total Non-Current Assets | 558,065,658 | 570,034,049 | 563,024,427 | 558,126,662 | 570,095,053 | 563,085,431 |
Current Assets | ||||||
Inventories | 331,512,113 | 517,011,350 | 400,758,997 | 331,512,113 | 517,011,350 | 400,758,997 |
Financial Investments | 1,860,223 | 1,767,813 | 1,824,821 | 1,860,223 | 1,767,813 | 1,824,821 |
Trade & Other Receivables | 169,519,462 | 362,188,440 | 301,532,933 | 169,519,462 | 362,188,440 | 301,532,933 |
Amounts Due from Related Parties | 3,136,489 | 3,991,792 | 1,935,125 | 3,589,786 | 4,351,334 | 2,294,627 |
Pre-payments & Other Recoverable | 13,068,113 | 13,087,434 | 15,628,829 | 13,068,113 | 13,087,434 | 15,628,829 |
Deposits & Advances Receivables | 145,537,808 | 35,878,964 | 41,918,344 | 145,537,808 | 35,878,964 | 41,918,344 |
Cash & Cash Equivalents | 192,505,020 | 56,915,112 | 28,916,457 | 192,505,020 | 56,913,997 | 28,916,457 |
Total Current Assets | 857,139,228 | 990,840,905 | 792,515,506 | 857,592,525 | 991,199,332 | 792,875,008 |
Total Assets | 1,415,204,886 | 1,560,874,954 | 1,355,539,933 | 1,415,719,187 | 1,561,294,385 | 1,355,960,439 |
Equity and Liabilities | ||||||
Stated Capital | 954,965,559 | 582,965,063 | 582,965,063 | 954,965,559 | 582,965,063 | 582,965,063 |
Revaluation Reserve | 15,013,718 | 15,013,718 | 15,013,718 | 15,013,718 | 15,013,718 | 15,013,718 |
Retained Earnings | (1,016,425,393) | (675,701,494) | (900,904,011) | (1,015,891,092) | (675,282,063) | (900,446,505) |
Total Equity attributable to the equity | (46,446,116) | (77,722,713) | (302,925,230) | (45,911,815) | (77,303,282) | (302,467,724) |
holders of the Company/Total equity | ||||||
Non-Current Liabilities | ||||||
Employee benefits | 11,314,095 | 8,334,321 | 9,881,844 | 11,314,095 | 8,334,321 | 9,881,844 |
Interest-Bearing Loans and Borrowings | 285,921,214 | 425,215,124 | 365,856,723 | 285,921,214 | 425,215,124 | 365,856,723 |
Government Grant | 6,101,626 | 7,211,026 | 6,656,326 | 6,101,626 | 7,211,026 | 6,656,326 |
Total non-current liabilities | 303,336,935 | 440,760,471 | 382,394,893 | 303,336,935 | 440,760,471 | 382,394,893 |
Current liabilities | ||||||
Trade Payables | 22,455,287 | 57,280,738 | 61,478,729 | 22,455,287 | 57,280,738 | 61,478,729 |
Interest-Bearing Loans and Borrowings | 386,567,941 | 704,645,040 | 487,914,358 | 386,567,941 | 704,645,040 | 487,914,358 |
Government Grant | 1,109,400 | 1,109,400 | 1,109,400 | 1,109,400 | 1,109,400 | 1,109,400 |
Amount Due to Related Parties | 23,171,217 | 150,704,362 | 311,107,912 | 23,171,217 | 150,704,362 | 311,107,912 |
Deposits & Advances Payables | 458,285,953 | 11,804,357 | 204,629,178 | 458,285,953 | 11,804,357 | 204,629,178 |
Accrued Expenses & Other Creditors | 75,640,819 | 91,050,928 | 79,887,563 | 75,620,819 | 91,050,928 | 79,850,563 |
Bank Overdrafts | 191,083,450 | 181,242,371 | 129,943,130 | 191,083,450 | 181,242,371 | 129,943,130 |
Total current liabilities | 1,158,314,067 | 1,197,837,196 | 1,276,070,270 | 1,158,294,067 | 1,197,837,196 | 1,276,033,270 |
Total liabilities | 1,461,651,002 | 1,638,597,667 | 1,658,465,163 | 1,461,631,002 | 1,638,597,667 | 1,658,428,163 |
Total equity & liabilities | 1,415,204,886 | 1,560,874,954 | 1,355,539,933 | 1,415,719,187 | 1,561,294,385 | 1,355,960,439 |
Net Assets per Share - (LKR) | (0.19) | (0.67) | (2.61) | (0.19) | (0.66) | (2.60) |
It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007. The figures as at 31st March 2024 are provisional & subject to audit.
……………….…….……………
Head of Finance
The Board of Directors is responsible for these financial statements.
……………….…….…………… | ……………….…… |
Director | Director |
13th November 2024 | |
Colombo |
HVA FOODS PLC
Statement of Cashflow
Provisional Financial Statements for the Three months ended 30th September
All amounts in Sri Lanka Rupees
30.09.2024 | 30.09.2023 | 31.03.2024 | 30.09.2024 | 30.09.2023 | 31.03.2024 | |
(Unaudited) | (Unaudited) | (Audited) | (Unaudited) | (Unaudited) | (Audited) | |
Cash Flow From Operating Activities | ||||||
Loss before taxation | (115,521,382) | (102,655,172) | (328,410,582) | (115,444,587) | (102,583,270) | (328,300,605) |
Adjustments for: | - | |||||
Depreciation on Property, Plant and Equipment | 4,799,589 | 5,806,898 | 11,473,406 | 4,799,589 | 5,806,898 | 11,473,406 |
Amortization of Intangible Assets | 404,352 | 906,765 | 1,813,539 | 404,352 | 906,765 | 1,813,539 |
Provision for Defined Benefit Obligations - Gratuity | 1,677,960 | 3,580,926 | 2,690,457 | 1,677,960 | 3,580,926 | 2,690,457 |
Interest Income on Deposits and Savings | (703,880) | (963,629) | (1,742,020) | (703,880) | (963,629) | (1,742,020) |
Inventory Write off/Reversal | 6,632,465 | (548,603) | 26,178,424 | 6,632,465 | (548,603) | 26,178,424 |
Provision on Trade Receivables | 293,570 | (834,763) | 28,825,575 | 293,570 | (834,763) | 28,825,575 |
Dividend Income | - | - | - | - | - | - |
Amortization of Government Grant | (554,700) | (554,700) | (1,109,400) | (554,700) | (554,700) | (1,109,400) |
Loss/(Gain) on Fair Valuation of Financial Investments | 13,055 | (199,164) | (73,537) | 13,055 | (199,164) | (73,537) |
Unrealized Exchange Loss on Borrowings | (242,405) | 16,821,489 | 2,224,206 | (242,405) | 16,821,489 | 2,224,206 |
Interest on Lease | 819,766 | 919,777 | 1,793,891 | 819,766 | 919,777 | 1,793,891 |
Interest Expenses | 61,231,556 | 117,768,127 | 209,818,182 | 61,231,556 | 117,768,127 | 209,818,182 |
Write off - Advance of Trade Creditors | - | - | 515,276 | - | - | 515,276 |
Profit on Disposal of Property, Plant and Equipment | - | - | 5,677,142 | - | - | 5,677,142 |
74,371,328 | 142,703,123 | 288,085,141 | 74,371,328 | 142,703,123 | 288,085,142 | |
Operating Profit/(Loss) before Working Capital Changes | (41,150,054) | 40,047,951 | (40,325,441) | (41,073,259) | 40,119,853 | (40,215,464) |
Change in: | ||||||
(Increase)/Decrease in inventories | 62,614,419 | (56,019,264) | 33,506,062 | 62,614,419 | (56,019,264) | 33,506,062 |
Increase in Trade Receivables | 131,719,901 | (64,664,459) | (33,669,290) | 131,719,901 | (64,664,459) | (33,669,290) |
(Increase)/Decrease in Pre-payments and Other Receivables | 2,560,715 | 3,293,412 | 752,017 | 2,560,715 | 3,293,412 | 752,017 |
(Increase)/Decrease in Amounts due from Related Parties | (1,201,364) | (1,300,839) | 755,828 | (1,295,159) | (1,394,741) | 661,966 |
(Increase)/Decrease in Deposits & Advances Receivables | (103,619,464) | 2,009,793 | (4,029,587) | (103,619,464) | 2,009,793 | (4,029,587) |
Increase /(Decrease) in Trade Payables | (39,023,442) | 6,543,388 | 10,226,103 | (39,023,442) | 6,543,388 | 10,226,103 |
Increase/(Decrease) in Amount due to Related Party | (287,936,696) | 120,704,362 | 281,107,912 | (287,936,696) | 120,704,362 | 281,107,912 |
Increase/(Decrease) in Deposits & Advances Payables | 253,656,775 | 10,014,301 | 202,839,122 | 253,656,775 | 10,014,301 | 202,839,122 |
Increase in Accrued Expenses & Other Creditors | (4,246,747) | 1,639,490 | (9,523,875) | (4,229,747) | 1,661,490 | (9,538,875) |
Cash Used in From Operating Activities | (26,625,957) | 62,268,135 | 441,638,851 | (26,625,957) | 62,268,135 | 441,639,966 |
Interest Paid | (61,231,556) | (117,768,127) | (209,818,182) | (61,231,556) | (117,768,127) | (209,818,182) |
Lease Interest Paid | (819,766) | (919,777) | (1,793,891) | (819,766) | (919,777) | (1,793,891) |
Gratuity Paid | (245,709) | (3,829,390) | (3,721,417) | (245,709) | (3,829,390) | (3,721,417) |
Net Cash Used in Operating Activities | (88,922,988) | (60,249,159) | 226,305,361 | (88,922,988) | (60,249,159) | 226,306,476 |
Cash Flows from Investing Activities | ||||||
Acquisition of Property, Plant and Equipment | (245,168) | (13,864,611) | (16,222,501) | (245,168) | (13,864,611) | (16,222,501) |
Financial Assets Investments | (48,456) | (47,096) | (229,730) | (48,456) | (47,096) | (229,730) |
Interest Received | 703,880 | 963,629 | 1,742,020 | 703,880 | 963,629 | 1,742,020 |
Dividend Received | - | - | - | - | - | - |
Proceeds from Sale of Investment | - | 30,000,000 | 30,000,000 | - | 30,000,000 | 30,000,000 |
Net Cash Generated/(Used in) Investing Activities | 410,256 | 17,051,922 | 15,289,789 | 410,256 | 17,051,922 | 15,289,789 |
Cash Flows from Financing Activities | ||||||
Payments of Finance Lease Liabilities | (343,039) | (243,023) | (531,709) | (343,039) | (243,023) | (531,709) |
Share Issue | 372,000,496 | - | - | 372,000,496 | - | - |
Proceeds from Bank Borrowings | 689,917,970 | 1,034,489,637 | 1,930,052,169 | 689,917,970 | 1,034,489,637 | 1,930,052,169 |
Repayment of Bank Borrowings | (870,614,452) | (891,247,977) | (2,048,013,626) | (870,614,452) | (891,247,977) | (2,048,013,626) |
Net Cash from/(used in) Financing Activities | 190,960,975 | 142,998,637 | (118,493,166) | 190,960,975 | 142,998,637 | (118,493,166) |
Net Increase/(Decrease) in Cash and Cash Equivalents | 102,448,243 | 99,801,400 | 123,101,986 | 102,448,243 | 99,801,400 | 123,103,101 |
Cash and Cash Equivalents at the beginning of the period | (101,026,673) | (224,128,659) | (224,128,659) | (101,026,673) | (224,129,774) | (224,129,774) |
Cash and Cash Equivalents as at the end of the period | 1,421,570 | (124,327,259) | (101,026,673) | 1,421,570 | (124,328,374) | (101,026,673) |
Cash and Cash Equivalents End of the period | ||||||
Cash in hand and cash at banks | 192,505,020 | 56,915,112 | 28,916,457 | 192,505,020 | 56,913,997 | 28,916,457 |
Bank Overdrafts | (191,083,450) | (181,242,371) | (129,943,130) | (191,083,450) | (181,242,371) | (129,943,130) |
Cash and Cash Equivalents at end of the period | 1,421,570 | (124,327,259) | (101,026,673) | 1,421,570 | (124,328,374) | (101,026,673) |
Figures in brackets indicate deductions.
HVA FOODS PLC
Statement of Changes in Equity
Provisional Financial Statements for the Six months ended 30th September
All amounts in Sri Lanka Rupees
Group | Attributable to equity holders of the company | |||
Stated capital | Revaluation | Retained earnings | Total | |
reserves | ||||
Balance as at 01st April 2023 | 582,965,063 | 15,013,718 | (573,046,322) | 24,932,459 |
Loss For the Period | (326,229,964) | (326,229,964) | ||
- | ||||
Other Comprehensive income | - | |||
Defined benefit plan Actuarial Gain | (2,330,019) | (2,330,019) | ||
Deferred tax on actuarial gain on Retirement Benefit Obligations | 702,294 | 702,294 | ||
Revaluation Surplus on Property, Plant and Equipment | - | - | ||
Deferred tax on Revaluation of Property, Plant and Equipment | - | - | ||
Balance as at 31st March 2024 | 582,965,063 | 15,013,718 | (900,904,011) | (302,925,230) |
Balance as at 01st April 2024 | 582,965,063 | 15,013,718 | (900,904,011) | (302,925,230) |
Rights Issue of Shares | 372,000,496 | - | - | 372,000,496 |
Loss for the Period | - | - | (115,521,382) | (115,521,382) |
Other Comprehensive income | ||||
Defined benefit plan Actuarial Gain | - | - | - | - |
Deferred tax on actuarial gain on Retirement Benefit Obligations | - | - | - | - |
Revaluation Surplus on Property, Plant and Equipment | - | - | - | - |
Deferred tax on Revaluation of Property, Plant and Equipment | - | - | - | - |
Balance as at 30th September 2024 | 954,965,559 | 15,013,718 | (1,016,425,393) | (46,446,116) |
Company | Stated capital | Revaluation | Retained earnings | Total |
reserves | ||||
Balance as at 01st April 2023 | 582,965,063 | 15,013,718 | (572,698,793) | 25,279,988 |
Loss For the Period | - | - | (326,119,987) | (326,119,987) |
Other Comprehensive income | ||||
Defined benefit plan Actuarial Gain | - | - | (2,330,019) | (2,330,019) |
Deferred tax on actuarial gain on Retirement Benefit Obligations | - | - | 702,294 | 702,294 |
Revaluation Surplus on Property, Plant and Equipment | - | - | - | - |
Deferred tax on Revaluation of Property, Plant and Equipment | - | - | - | - |
Balance as at 31st March 2024 | 582,965,063 | 15,013,718 | (900,446,505) | (302,467,724) |
Balance as at 01st April 2024 | 582,965,063 | 15,013,718 | (900,446,505) | (302,467,724) |
Rights Issue of Shares | 372,000,496 | - | - | 372,000,496 |
Loss For the Period | - | - | (115,444,587) | (115,444,587) |
Other Comprehensive income | ||||
Defined benefit plan Actuarial Gain | - | - | - | - |
Deferred tax on actuarial gain on Retirement Benefit Obligations | - | - | - | - |
Revaluation Surplus on Property, Plant and Equipment | - | - | - | - |
Deferred tax on Revaluation of Property, Plant and Equipment | - | - | - | - |
Balance as at 30th September 2024 | 954,965,559 | 15,013,718 | (1,015,891,092) | (45,911,815) |
Figures in brackets indicate deductions.
HVA FOODS PLC
Provisional Financial Statements for the Six months ended 30th September 2024
1 Market price per share for the period ended 30th September 2024 | 2024-25 | 2023-24 |
2nd Quarter | 2nd Quarter | |
Rs. | Rs. | |
Highest | 3.80 | 5.70 |
Lowest | 2.70 | 3.50 |
Last Traded | 3.20 | 4.10 |
- The interim financial statements of the company and of the group have been prepared on the basis of the same accounting policies and method applied for the year ended 31st March 2024 and are in compliance with Sri Lanka Accounting Standard 34 - Interim financial reporting
- Stated capital is represented by number of shares in issue as given below
No of shares | Value ( Rs.) | |
As at 30th September 2024 | 244,526,188 | 954,965,559 |
As at 31st March 2024 | 116,250,155 | 582,965,063 |
- There has been no significant change in the nature of the contingencies and other commitments, which were disclosed in the Audited Financial Statements for the year ended 30th September 2024
- There have been no other events subsequent to the balance sheet date, which require disclosure in these financial statements.
6 Major Shareholders and precentages of holdings | ||
Name | No of Shares | % of Holding |
GEORGE STEUART & CO LTD A/C NO 01 | 202,021,804 | 82.62% |
HVA LANKA EXPORTS (PRIVATE) LIMITED | 11,625,015 | 4.75% |
MR. A.R.H. FERNANDO | 1,747,755 | 0.71% |
SENKADAGALA FINANCE PLC/G.A.M.P.CHANDANA | 1,472,413 | 0.60% |
SENKADAGALA FINANCE PLC/S.GOBINATH | 1,195,000 | 0.49% |
MR. M.T. RAJAB KHAN | 1,085,030 | 0.44% |
MR.P.T.M.I.G. THILAKARATNE | 965,567 | 0.39% |
MR.D.G.WIJEMANNA | 700,000 | 0.29% |
MR. J.A.M. JIFFRY | 696,430 | 0.28% |
DR. S.M.T.B. SAMARAKOON | 646,598 | 0.26% |
MRS. R.M.N. WIJESEKARA | 561,174 | 0.23% |
DFCC BANK PLC/MASKELIYA TEA EXPORTS (PVT) LTD | 498,135 | 0.20% |
MR. T.G. THORADENIYA | 444,636 | 0.18% |
MR. R.E. RAMBUKWELLE | 431,999 | 0.18% |
DIALOG FINANCE PLC/S.D.DIVAKARAGE | 400,193 | 0.16% |
MR. H.A. NASAR | 381,673 | 0.16% |
MR. S.M. NAZEER | 329,205 | 0.13% |
MRS.K.T.A.PERERA | 315,517 | 0.13% |
LAKE DRIVE HOLDINGS (PRIVATE) LIMITED | 309,522 | 0.13% |
MERCHANT BANK OF SRI LANKA & FINANCE PLC 01 | 281,662 | 0.12% |
ASSETLINE FINANCE LTD/P.B.C. VIDURANGA | 255,468 | 0.10% |
MR. K.M.S.M. RAZIK & | 254,354 | 0.10% |
EST OF LAT D. EASSUWAREN (DECEASED) | 237,968 | 0.10% |
MR. M.I.V. FERNANDO | 233,020 | 0.10% |
MR. M.H.A. KAMIL | 226,064 | 0.09% |
SUB TOTAL | 227,316,202 | 92.94% |
OTHERS | 17,209,986 | 7.06% |
TOTAL | 244,526,188 | 100.00% |
- To facilitate comparison and where relevant balance pertaining to the previous period have been reclassified
HVA FOODS PLC
Provisional Financial Statements for the Six months ended 30th September 2024
- Analysis of Net Finance Cost
Group | Company | |||||||
6 months from 1st April to | 3 months from 1st July to | 6 months from 1st April to | 3 months from 1st July to | |||||
30.09.2024 | 30.09.2023 | 30.09.2024 | 30.09.2024 | 30.09.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | |
Net Interest Cost | (87,266,242) | 117,724,274 | (54,785,208) | 53,910,798 | (87,266,242) | 117,724,174 | (54,785,208) | 53,910,798 |
Bank Charges | (2,183,921) | 4,667,951 | (875,166) | 1,975,302 | (2,183,921) | 4,667,951 | (875,166) | 1,975,302 |
Exchange Loss | (5,859,354) | 25,802,200 | (1,400,058) | 13,196,304 | (5,859,354) | 25,802,200 | (1,400,058) | 13,196,304 |
9 Directors Shareholding | ||
Name | No of Shares | % of Holding |
Mrs.V S A Fernando | - | - |
Stated capital is represented by number | - | - |
Mr.S A Amarasekere | - | - |
Mr.S U.Dassanayake | - | - |
Mr.S P S Ranatunga | - | - |
Mr.C G Stork | - | - |
- The public holding precentage 30th September 2024 was 11.913% ( as at 30th September 2023 was 21.392%) comprising of 3,549 shareholders as at 30th September 2024 ( as at 30th September 2023 was 3,555)
- The float adjusted market capitalization as at 30th September 2024 of Rs.93,221,164.80 falls under option 2 of rule 7.13.1(i)(b) of the listing rules of the Colombo Stock Exchange and the company has complied with the minimum public holding requirement applicable under the said option.
HVA FOODS PLC
CORPORATE INFORMATION
Name of company | Mr.S.P.S.Ranatunga | Secretaries / Registrars | |
HVA Foods PLC | Independent Non-Executive Director | P.W.Corporate Secretarial (Pvt) Ltd | |
3/17, Kynsey Road, Colombo 08. | |||
Legal form | Ms.V.S.A.Fernando | ||
Public Limited Liability Company | Non-Executive Director | ||
Lawyers | |||
Registered office of the company | Remuneration committee | Capital Law Chambers and Corporate | |
No.118,Braybrooke place, | Mr.M.P.D Cooray | 75/6, Ward Place, Colombo 07. | |
Colombo 02. | Independent Non-Executive Director | Chairman of | |
the Committee | External Auditors | ||
Company registration No | BDO Partners | ||
PB/PV/1756 PQ | Mr.S.P.S.Ranatunga | Chartered Accountants | |
Independent Non-Executive Director | "Charter House" | ||
Stock Exchange Listing | 65/2,Sir Chittampalam A Gardiner | ||
The Ordinary Shares are listed on | Ms.V.S.A.Fernando | Mawatha,Colombo 02. | |
Colombo Stock Exchange | Non-Executive Director | ||
Internal Auditors | |||
KPMG Sri Lanka | |||
Directors | Related Party Transaction Review Committee | 32A, Sir Mohomad Macan Marker | |
Mr.S.P.S.Ranatunga | Mr.M.P.D Cooray | Mawatha,Colombo 01. | |
Independent Non-Executive Director/ | Independent Non-Executive Director | Chairman of | |
Chairman | the Committee | Bankers | |
National Development Bank PLC | |||
Ms.V.S.A.Fernando | Mr.S.P.S.Ranatunga | Hatton National Bank PLC | |
Non-Executive Director | Independent Non-Executive Director | People's Bank | |
Bank of Ceylon | |||
Mr.S.U.Dassanayake | Mr.S.A.Ameresekere | DFCC Bank PLC | |
Executive Director / COO | Non-Executive Director | ||
Investors relations | |||
Mr.M.P.D Cooray | HVA Foods PLC | ||
Independent Non-Executive Director | Nominations and Governance Committee | No.118, Braybrooke Place, Colombo 02. | |
Mr.M.P.D Cooray | Tel. 011 4427600 | ||
Mr.S.A.Ameresekere | Independent Non-Executive Director | Chairman of | |
Non-Executive Director | the Committee | Web : www.heladiv.com | |
Mr.C.G.Stork | Mr.S.P.S.Ranatunga | ||
Executive Director / CEO | Independent Non-Executive Director | ||
Ms.V.S.A.Fernando | |||
Audit Committee | Non-Executive Director | ||
Mr.M.P.D Cooray | |||
Independent Non-Executive Director | |||
Chairman of the Committee |