Lanka IOC PLC
Notes to the Financial Statement
1 - General Information
The Company commenced commercial operations of importing, selling and distribution of Petroleum products on 14th February 2003. The Company is a public limited liability company incorporated and domiciled in Sri Lanka. The address of its registered office is Level 20, West Tower, World Trade Centre, Colombo.
The Company has its primary listing on the Colombo Stock Exchange.
These financial statements have been approved for issue by the Board of Directors on 17th April 2025.
2 - Basis of preparation
These condensed interim financial statements of Lanka IOC PLC are for the period ended 31st March 2025. They have been prepared in accordance LKAS 34, Interim Financial Reporting, These interim financial statements have been prepared in accordance with those SLFRS standards and IFRIC interpretation issued and effective as at the time of preparing these statements. The condensed interim financial statements do not include all of the information required for full annual financial statements. The condensed Interim Financial Statements should be read in conjunction with the annual financial statements for the year ended 31st March 2025.
3 - Accounting Policies
The Accounting policies adopted are consistent with those of the previous financial year as reported in the annual financial statements for the year ended 31st March 2025.
4- Net assets per share have been computed based on number of shares in issues as at 31st March 2025.
5- The presentation and classification of the Financial Statements of the previous year have been amended, where relevant, for better presentation and to be comparable with those of the current year.
6- Events after the end of reporting period
No any events have occurred since the statement of financial position date which would require adjustments to, or disclosure in, the financial statements.
7- Share price movement
Jan - March. | |||
The market prices during | 2024-25 | 2023-24 | |
Highest prices LKR | 147.00 | 120.00 | |
Lowest prices LKR | 121.00 | 97.50 | |
Last trade price LKR | 127.00 | 116.75 | |
8- Net Asset Value per share (31st March 2025) | - LKR | 155.30 | |
Net Asset Value per share (31st March 2024) | - LKR | 137.98 |
Notes to the Financial Statement for the quarter ended 31st March 2025
9- | Stated Capital is represented by 532,465,705 ordinary Shares. | |||||
10- | Names and the Number of Shares held by the largest 20 shareholders as at 31st March 2025 | |||||
Name | No.of Shares | Percentage | ||||
1 | Indian Oil Corporation Limited, India | 400,000,005 | 75.12 | |||
2 | Sri Lanka Insurance Corporation Ltd-Life fund | 7,975,875 | 1.50 | |||
3 | J B Cocoshell (Pvt) Ltd | 6,478,332 | 1.22 | |||
4 | Mr. K.A.S.R. Nissanka | 4,450,519 | 0.84 | |||
5 | Bank of Ceylon A/c Ceybank Unit Trust | 4,158,839 | 0.78 | |||
6 | Hatton National Bank PLC-Senfin Growth Fund | 3,586,002 | 0.67 | |||
7 | Peoples Leasing & Finance Plc/Mr.D.M.P.Disanayake | 2,959,134 | 0.56 | |||
8 | Deutsche bank AG as Trustee for JB Vantage Value Equity Fund | 2,486,170 | 0.47 | |||
9 | Employees Provident Fund | 2,346,558 | 0.44 | |||
10 | Odyssey Capital Partners (Private) Limited | 2,305,443 | 0.43 | |||
11 | Hatton National Bank PLC - Capital Alliance Quantitative Equity Fund | 1,893,909 | 0.36 | |||
12 | Mr. N. Samarasuriya & Mrs. C. Samarasuriya | 1,704,000 | 0.32 | |||
13 | Mr. R.C.D. De Silva | 1,511,837 | 0.28 | |||
14 | Employees Trust Fund Board | 1,481,646 | 0.28 | |||
15 | Assetline Finance Limited/British American Technologies Pvt Ltd | 1,451,796 | 0.27 | |||
16 | Acuity Partners (Pvt) Limited/Mr.Elayathamby Thavagnanasooriyam/Mr.Elayathamby Thavagnanasundaram | 1,419,701 | 0.27 | |||
17 | Hatton National Bank PLC/ALMAS Holdings (Private) Limited | 1,410,290 | 0.27 | |||
18 | Jafferjee Brothers Exports (Private)Limited | 1,337,180 | 0.25 | |||
19 | National Savings Bank | 1,241,959 | 0.23 | |||
20 | Mr. R.P. Weerasooriya | 1,217,482 | 0.23 | |||
Total | 451,416,677 | 84.79 | ||||
11- | Public Holding as a % of issued Share Capital | 24.88% | ||||
Number of Public Shareholders | 14,067 | |||||
Compliant under Option -1 Float adjusted market capitalization (LKR Mn) | 16,823 | |||||
The Company complies with Minimum Public Holding Requirement under option 1 of | ||||||
the Listing Rules 7.14.1 (a) which is no minimum % requires in Public Holding and | ||||||
Number of Public Shareholders 500 . | ||||||
12- | Directors' Shareholding as on 31st March 2025 | |||||
Mr.Satish Kumar Vaduguri -Chairman | - Appointed | W.e f 01st September 2024 | Nil | |||
Mr.Sujoy Choudhury -Chairman | - | Ceased | W e f 31st August 2024 | Nil | ||
Mr Dipak Das | Nil | |||||
Mr Rani Venkata Naga Vishweshwar | Nil | |||||
Mr Nikhil Deep Mathur | Nil | |||||
Mr H.Manil Anthony Jayasinghe Appointed W.e f | 01st January 2025 | Nil | ||||
Mr.Sivakrishnarajah Renganathan W.e f | 01st January 2025 | Nil |