LANKA VENTURES PLC
Interim Financial Statements
31STMARCH 2025
CONTENTS
Statement of Profit or Loss & Other Comprehensive Income
Statement of Financial Position
Statement of Changes in Equity
Statement of Cash Flows
Notes to the Interim Financial Statements
Corporate Information
Statement of Profit or Loss & Other Comprehensive Income
Period Ended 31st March 2025
GROUP | COMPANY | |||
31.03.2025 | 31.03.2024 | 31.03.2025 | 31.03.2024 | |
LKR 000 | LKR 000 | LKR 000 | LKR 000 | |
Revenue | 436,978 | 419,181 | - | - |
Direct expenses | (200,055) | (198,090) | - | - |
Gross Profit | 226,923 | 221,091 | - | - |
Interest income | 29,124 | 27,489 | 4,644 | 13,843 |
Other income | 79,093 | 48,448 | 60,306 | 52,511 |
Operating expenses | ||||
Administrative expenses | (48,239) | (42,577) | (41,604) | (34,604) |
Sales and establishment expenses | (3,436) | (3,708) | (2,972) | (3,265) |
Other operating expenses | (18,254) | (14,443) | (7,546) | (5,196) |
Results from operating activities | 275,211 | 236,300 | 12,828 | 23,289 |
Share of earnings from equity accounted investees | 818,377 | 256,445 | 353,888 | (55,079) |
Finance cost | (318,696) | (489,168) | (2,007) | (7,999) |
Profit/(loss) before income tax | 774,892 | 3,577 | 364,709 | (39,789) |
Tax (expense) / Reversal | (89,213) | (53,961) | (1,632) | - |
Profit/(loss) for the period | 685,679 | (50,384) | 363,077 | (39,789) |
Profit/(loss) attributable to: | ||||
Equity holders of the company | 363,077 | (39,789) | 363,077 | (39,789) |
Non-controlling interest | 322,602 | (10,595) | - | - |
Profit/(loss) for the period | 685,679 | (50,384) | 363,077 | (39,789) |
Other comprehensive income, net of income tax | ||||
Foreign operations - foreign currency translation difference | (693,196) | (689,088) | (385,051) | (392,765) |
Share of other comprehensive income from equity accounted investees | (267,040) | (76,424) | (147,812) | (43,560) |
Defined benefit plan actuarial gains/(losses) net of Tax | (207) | (1,156) | (207) | (1,156) |
Total other comprehensive income for the period, net of tax | (960,443) | (766,668) | (533,070) | (437,481) |
Total comprehensive income for the period | (274,764) | (817,052) | (169,993) | (477,270) |
Total comprehensive income attributable to: | ||||
Equity holders of the company | (169,993) | (477,270) | (169,993) | (477,270) |
Non-controlling interest | (104,771) | (339,782) | - | - |
Total comprehensive income for the period | (274,764) | (817,052) | (169,993) | (477,270) |
Basic earnings per share (Rs.) | 6.38 | (0.80) | 6.38 | (0.80) |
01
Statement of Profit or Loss & Other Comprehensive Income
Revenue
Direct expenses Gross Profit Interest income Other income
Operating expenses
Administrative expenses
Sales and establishment expenses Other operating expenses
Results from operating activities
Share of earnings from equity accounted investees Finance cost
Profit/(loss) before income tax Tax (expense) / Reversal Profit/(loss) for the period Profit/(loss) attributable to:
Equity holders of the company Non-controlling interest Profit/(loss) for the period
Other comprehensive income, net of income tax
Foreign operations - foreign currency translation difference
Share of other comprehensive income from equity accounted investees
Defined benefit plan actuarial gains/(losses) net of Tax
Total other comprehensive income for the period, net of tax
Total comprehensive income for the period
Total comprehensive income attributable to:
Equity holders of the company Non-controlling interest
Total comprehensive income for the period
Basic earnings per share (Rs.)
GROUP
31.03.2025
LKR 000
59,726
(40,140)
19,586
5,783
612
(12,779)
(516)
(4,462)
8,221
100,683
(68,541)
40,366
(30,646)
9,720
11,795
(2,075)
9,720
(11,518)
(16,854)
234
(28,138)
(18,418)
(3,677)
(14,741)
(18,418)
0.20
COMPANY
31.03.2025
LKR 000
-
-
-940
14,225
(11,430)
(476)
(1,993)
1,266
11,174
(557)
11,883
-
11,883
11,883
-
11,883
(6,376)
(9,329)
234
(15,471)
(3,676)
(3,676)
-
(3,676)
0.20
31.03.2024
LKR 000
114,150
(54,495)
59,655
6,466
41,873
(11,466)
(856)
(4,591)
91,081
14,835
(97,026)
8,890
(35,333)
(26,443)
(23,100)
(3,343)
(26,443)
(510,297)
32,045
(439)
(478,691)
(505,134)
(296,132)
(209,002)
(505,134)
(0.46)
31.03.2024
LKR 000
-
-
-1,453
13,900
(9,623)
(805)
(1,508)
3,417
(26,740)
222
(23,101)
-
(23,101)
(23,101)
-
(23,101)
(290,858)
18,265
(439)
(273,032)
(296,133)
(296,133)
-
(296,133)
(0.46)
Quarter Ended 31st March 2025
02
Statement of Financial Position
GROUP
COMPANY
As At 31st March 2025
ASSETS
Non current assets
Property, plant and equipment Right-of-use assets
Investment in equity accounted investees Intangible assets
Financial assets measured at fair value through OCI
Total non current assets Current assets
Loans and receivables
Amounts due from related parties Other receivables
Income tax receivables Cash and cash equivalents Total current assets Total Assets
EQUITY & LIABILITIES
Equity
Stated capital Revaluation reserve Translation reserve Cashflow hedge reserve Retained earnings
Total equity attributable to equity holders of the Company
Non controlling interest Total equity Liabilities
Non current liabilities Defined benefit obligation Deferred tax liability Interest bearing borrowings Lease liability
Total non current liabilities Current liabilities
Interest bearing borrowings Lease liability
Other payables Income tax payables Bank Overdraft
Total current liabilities Total liabilities
Total equity and liabilities
Net assets per share (Rs.)
31.03.2025
LKR 000
1,462,232
6,672
5,893,987
115,467
15,852
7,494,210
62,669
1,724
830,535
5,860
226,451
1,127,239
8,621,449
850,584
6,416
752,091
(838,383)
2,358,862
3,129,570
2,445,128
5,574,698
3,507
74,405
2,333,924
-
2,411,836
481,286
4,026
34,201
33,842
81,560
634,915
3,046,751
8,621,449
54.97
31.03.2025
LKR 000
539
4,245
3,016,388
-15,852
3,037,024
1,792
3,543
-
-72,698
78,033
3,115,057
850,584
6,416
752,092
(838,383)
2,317,772
3,088,481
-
3,088,481
3,507
-
-
-
3,507
-4,026
18,926
117
-
23,069
26,576
3,115,057
54.24
31.03.2024
LKR 000
1,528,612
12,227
6,525,407
120,403
12,352
8,199,001
125,046
3,843
495,195
7,878
222,364
854,326
9,053,327
631,638
6,416
1,137,142
(690,571)
1,951,524
3,036,149
2,399,189
5,435,338
5,041
74,781
2,881,315
4,026
2,965,163
571,475
5,367
47,993
27,991
652,826
3,617,989
9,053,327
60.72
31.03.2024
LKR 000
478
9,613
2,975,854
-12,352
2,998,297
4,698
2,121
-1,514
64,948
73,281
3,071,578
631,638
6,416
1,137,143
(690,571)
1,954,902
3,039,528
-
3,039,528
5,041
-
-4,026
9,067
-5,367
17,616
-
22,983
32,050
3,071,578
60.79
I certify that the above financial statements comply with the requirements of the Companies Act No. 07 of 2007.
(Sgd.) Jayantha Pradeep Finance Manager
The Board of Directors is responsible for the preparation and presentation of these financial statements. Signed for and on behalf of the Board.
(Sgd.) M R Abeywardena Director
(Sgd.) A G R Dissanayake Director
Colombo. May 26th, 2025
03
Statement of Changes in Equity
Period Ended 31st March 2025
GROUP | Equity attributable to equity holders of the Company | Non controlling interest | Total equity | |||||
Stated capital | Revaluation reserve | Translation reserve | Cashflow hedge reserve | Retained earnings | Total | |||
LKR 000 | LKR 000 | LKR 000 | LKR 000 | LKR 000 | LKR 000 | LKR 000 | LKR 000 | |
Balance as at 01st April 2023 | 631,638 | 6,416 | 1,529,907 | (647,011) | 1,992,469 | 3,513,419 | 2,769,503 | 6,282,923 |
Profit/(loss) for the period | - | - | - | - | (39,789) | (39,789) | (10,595) | (50,384) |
Foreign operations - foreign currency translation difference | - | - | (392,765) | - | - | (392,765) | (296,323) | (689,088) |
Share of other comprehensive income from equity accounted investees | - | - | - | (43,560) | - | (43,560) | (32,864) | (76,424) |
Defined benefit plan actuarial gains /(losses) | - | - | - | - | (1,156) | (1,156) | - | (1,156) |
Total comprehensive income for the period | - | - | (392,765) | (43,560) | (40,946) | (477,271) | (339,782) | (817,052) |
Transactions with equity holders recognized directly in equit | ||||||||
Dividend paid | - | - | - | - | - | - | (30,532) | (30,532) |
Balance as at 31st March 2024 | 631,638 | 6,416 | 1,137,142 | (690,571) | 1,951,524 | 3,036,148 | 2,399,189 | 5,435,338 |
Balance as at 01st April 2024 | 631,638 | 6,416 | 1,137,142 | (690,571) | 1,951,524 | 3,036,149 | 2,399,189 | 5,435,338 |
Profit/(loss) for the period | - | - | - | - | 363,077 | 363,077 | 322,602 | 685,779 |
Foreign operations - foreign currency translation difference | - | - | (385,051) | - | - | (385,051) | (308,145) | (693,196) |
Share of other comprehensive income from equity accounted investees | - | - | - | (147,812) | - | (147,812) | (119,228) | (267,040) |
Defined benefit plan actuarial gains /(losses) | - | - | - | (207) | (207) | - | (207) | |
Total comprehensive income for the period | - | - | (385,051) | (147,812) | 362,870 | (169,993) | 104,771 | 274,764 |
Transactions with equity holders recognized directly in equity | ||||||||
Shares issued during the period | 218,946 | - | - | - | - | 218,946 | - | 218,946 |
Change in ownership without change in control in subsidiary | - | - | - | - | 44,468 | 44,468 | 201,846 | 246,314 |
Dividend paid | - | - | - | - | - | (51,135) | (51,135) | |
Balance as at 31st March 2025 | 850,584 | 6,416 | 752,091 | (838,383) | 2,358,862 | 3,129,570 | 2,445,128 | 5,574,698 |
04
Statement of Changes in Equity
Period Ended 31st March 2025
COMPANY | Stated capital | Revaluation reserve | Translation reserve | Cashflow hedge reserve | Retained earnings | Total equity |
LKR 000 | LKR 000 | LKR 000 | LKR 000 | LKR 000 | LKR 000 | |
Balance as at 01st April 2023 | 631,638 | 6,416 | 1,529,908 | (647,011) | 1,995,846 | 3,516,798 |
Profit/(loss) for the period | - | - | - | - | (39,789) | (39,789) |
Foreign operations - foreign currency translation difference | - | - | (392,765) | - | - | (392,765) |
Share of other comprehensive income from equity accounted investees | - | - | - | (43,560) | - | (43,560) |
Defined benefit plan actuarial gains /(losses) | - | - | - | - | (1,156) | (1,156) |
Total comprehensive income for the period | - | - | (392,765) | (43,560) | (40,945) | (477,270) |
Transactions with equity holders recognized directly in equit | ||||||
Dividend paid | - | - | - | - | - | - |
Balance as at 31st March 2024 | 631,638 | 6,416 | 1,137,143 | (690,571) | 1,954,902 | 3,039,528 |
Balance as at 01st April 2024 | 631,638 | 6,416 | 1,137,143 | (690,571) | 1,954,902 | 3,039,528 |
Profit/(loss) for the period | - | - | - | - | 363,077 | 363,077 |
Foreign operations - foreign currency translation difference | - | - | (385,051) | - | - | (385,051) |
Share of other comprehensive income from equity accounted investees | - | - | - | (147,812) | - | (147,812) |
Defined benefit plan actuarial gains /(losses) | - | - | - | - | (207) | (207) |
Total comprehensive income for the period | - | - | (385,051) | (147,812) | 362,870 | (169,993) |
Transactions with equity holders recognized directly in equity | ||||||
Shares issued during the period | 218,946 | - | - | - | - | 218,946 |
Change in ownership without change in control in subsidiary | - | - | - | - | - | - |
Dividend paid | ||||||
Balance as at 31st March 2025 | 850,584 | 6,416 | 752,092 | (838,383) | 2,317,772 | 3,088,481 |
05
Statement of Cash Flows
Period Ended 31st March 2025
GROUP | COMPANY | |||
2025 | 2024 | 2025 | 2024 | |
LKR 000 | LKR 000 | LKR 000 | LKR 000 | |
Cash flows from operating activities | ||||
Profit/(loss) before income tax | 774,892 | 3,577 | 364,709 | (39,789) |
Adjustments for: | ||||
Amortization of staff cost | 149 | 147 | 149 | 147 |
Depreciation | 80,801 | 82,688 | 283 | 232 |
Amortization of Right of Use Assets | 5,368 | 4,775 | 5,368 | 4,587 |
Amortization of intangible assets | 5,124 | 4,904 | - | - |
Share of earnings | (818,377) | (256,445) | (353,888) | 55,079 |
Interest income on staff loan | (287) | (372) | (287) | (372) |
Provision for defined benefit obligation | 884 | 815 | 884 | 815 |
Interest income on investments | (29,124) | (27,489) | (4,644) | (13,843) |
Dividend on preference shares | - | - | - | - |
Interest expense on lease | 1,921 | 1,435 | 1,921 | 1,435 |
Interest expense | 313,874 | 483,619 | - | 831 |
Operating cash flow before working capital changes | 335,225 | 297,654 | 14,495 | 9,122 |
(Increase)/decrease in Loans and receivables | 62,376 | 181,974 | 2,906 | (2,201) |
(Increase)/decrease in Amounts due from related parties | 2,120 | (2,132) | (2,168) | 11,117 |
(Increase)/decrease in Other receivables | - | - | 746 | - |
Increase/(decrease) in Other payables | (13,802) | 2,199 | 1,305 | 1,786 |
Cash generated from operating activities | 385,919 | 479,695 | 17,284 | 19,824 |
Gratuity paid | (2,625) | (407) | (2,625) | (407) |
Taxes paid | (40,121) | (2,113) | - | - |
Interest paid | (340,059) | (448,013) | (1,921) | (2,266) |
Net cash from operating activities | 3,114 | 29,162 | 12,738 | 17,151 |
Cash flows from investing activities | ||||
Dividend received | 133,762 | 147,509 | - | - |
Additions to intangible assets | - | - | - | - |
Interest received | 29,412 | 27,861 | 4,932 | 14,215 |
Investment in equity accounted investees | - | - | (219,508) | - |
Investment in financial assets | (3,500) | (4,852) | (3,500) | (4,852) |
Additions to property, plant & equipment | (14,421) | (2,037) | (344) | - |
Net cash from investing activities | 145,253 | 168,481 | (218,420) | 9,363 |
Cash flows from financing activities | ||||
Dividend paid to the minority shareholders | (72,268) | (41,788) | - | - |
Lease rental paid | (5,514) | (4,526) | (5,514) | (4,526) |
Shares issued to minority shareholders | - | - | - | - |
Proceeds from Rights Issue | 465,260 | - | 218,946 | - |
Cash proceeds of interest bearing borrowings | - | 680,400 | - | - |
Cash repayments of interest bearing borrowings | (613,318) | (828,049) | - | (9,000) |
Net cash from financing activities | (225,840) | (193,963) | 213,432 | (13,526) |
Net increase/(decrease) in cash and cash equivalents | (77,473) | 3,680 | 7,750 | 12,988 |
Cash and cash equivalents at the beginning of the period | 222,364 | 218,684 | 64,948 | 51,960 |
Cash and cash equivalents at the end of the period | 144,891 | 222,364 | 72,698 | 64,948 |
06
Notes to the Interim Financial Statements
Period Ended 31st March 2025
CORPORATE INFORMATION
Lanka Ventures PLC is a public limited liability company listed on the Colombo Stock Exchange incorporated and domiciled in Sri Lanka. The registered office is situated at 2nd Floor, "Sayuru Sevana", No. 46/12, Navam Mawatha, Colombo 02, Sri Lanka
BASIS OF PREPARATION OF INTERIM FINANCIAL STATEMENTS
The interim condensed consolidated financial statements for the quarter ended 31st March 2025, which have not been audited, have been prepared in accordance with LKAS 34 / Interim Financial Reporting. These financial statements do not include all the information and disclosures required for the annual financial statements and have been prepared based on the accounting policies set out in the audited financial statements for the year ended 31st March 2024. The provisions of the Companies Act No. 7 of 2007 and the revised Listing Rules of the Colombo Stock Exchange have also been considered in the preparation of the interim financial statements of the Company and the Group.
There are no new standards or interpretations that were adopted after 31 March 2024.
There are no significant changes in the nature of the contingent liabilities disclosed in the Audited Financial Statements for the year ended 31st March 2024.
Events after the Reporting Date : There were no material events occurring after the reporting date that require adjustments to or disclosure in the financial statements.
Where necessary, comparative figures have been re-classified to conform with the current period's presentation.
LOAN RESTRUCTURING AND OVERDRAFT FACILITY
LVL Energy Fund PLC (LEF), a subsidiary of the Company, has restructured its loan facilities obtained from DFCC Bank PLC (DFCC) and National Development Bank PLC (NDB) due to delays in receiving expected dividends from one of its investee companies. In light of continued delays in the said dividend inflow, LEF has secured an overdraft facility of LKR 350 million from Hatton National Bank PLC (HNB) to meet its short-term obligations.
INVESTMENTS IN ASSOCIATES IN BANGLADESH
Two of our investee companies in Bangladesh, namely Lakdhanavi Bangla Power Limited and Feni Lanka Power Limited, have USD-denominated borrowings and USD revenue components under their respective Power Purchase Agreements (PPAs) with the Bangladesh Power Development Board. Both companies generate sufficient USD cash inflows to fully cover their USD loan repayments.
In accordance with IFRS 9 / Financial Instruments, the investee companies have designated these arrangements as cash flow hedges in their financial statements. The USD borrowings have been identified as the hedging instruments, and the USD revenue streams under the PPAs have been designated as the hedged items. Both the hedging instruments and hedged items meet the recognition criteria set out in IFRS 9, and hedge effectiveness has been assessed at 100%. Consequently, hedge accounting principles have been appropriately applied by the respective companies.
Since these companies are associates, the Group has applied the equity method of accounting as per LKAS 28 / Investments in Associates and Joint Ventures. Accordingly, the Group has recognized its share of profit or loss, other comprehensive income, and net assets relating to these investments in its consolidated financial statements.
RIGHTS ISSUE / JUNE 2024
The Company successfully raised a total of LKR 218,945,712 through a Rights Issue in June 2024. A total of 8,324,932 ordinary voting shares were issued to existing ordinary shareholders on the basis of one (1) new ordinary voting share for every six (6) ordinary voting shares held. The new shares were issued at a consideration of Rs. 26.30 per share.
Objective of the Rights Issue:
The primary purpose of the funds raised was to enable the Company to subscribe to the Rights Issue of its subsidiary, LVL Energy Fund PLC.The funds raised through the Rights Issue were fully utilized for this purpose.
07
Notes to the Interim Financial StatementsPeriod Ended 31st March 2025
For the quarter ended
Highest price Lowest price Last traded price
31-03-2025
(LKR)
49.80
36.50
39.10
31-03-2024
(LKR)
41.40
30.00
38.00
SHARE PRICE
STATED CAPITAL
As At
Numbers of Ordinary Shares
31-03-2025
58,324,932
31-03-2024
50,000,000
Stated capital is represented by the number of shares in issue as given below.
TOP TWENTY MAJOR SHAREHOLDERS AS AT 31STMARCH 2025
No
Shareholder Name
No. of Shares
%
01
Acuity Partners (Pvt) Ltd
46,425,125
79.60%
02
Peoples Leasing & Finance PLC / Mr. L. P. Hapangama
1,054,859
1.81%
03
Hatton National Bank PLC-Senfin Growth Fund
943,223
1.62%
04
Hallsville Frontier Equities Ltd.
517,176
0.89%
05
Dialog Finance PLC/Fors Investment (Private) Limited
442,820
0.76%
06
People's Leasing & Finance PLC / Dr. H. S. D. Soysa & Mrs. G. Soysa
367,946
0.63%
07
Union Investments Private Ltd
326,316
0.56%
08
Peoples Leasing & Finance PLC / L. H. L. M. P. Haradasa
319,656
0.55%
09
E. W. Balasuriya & Co. (Pvt) Ltd A/C N0. 01
296,700
0.51%
10
Mr. A.M. Weerasinghe
283,203
0.49%
11
Mr. G. D. M. Ranasinghe
160,000
0.27%
12
Mr. D.A. Cabraal
155,000
0.27%
13
Mr. H. A. Cabraal
150,000
0.26%
14
Mr. A. Sithampalam
140,000
0.24%
15
People's Leasing & Finance PLC / Mr. J. M. S. Brito & Mrs. B. S. Brito
125,000
0.21%
16
Est.of Lat K.C. Vignarajah
120,765
0.21%
17
Mr. U. D. Wickremesooriya
115,000
0.20%
18
Mrs. M. L. De Silva
110,000
0.19%
19
Mr. M.A.U. Ariyaratne
108,534
0.19%
20
Mr. K.D.S. De Silva
105,000
0.18%
Sub Total
52,266,323
89.61%
Other Shareholders
6,058,609
10.39%
Total Numbers of Shares
58,324,932
100.00 %
08
Notes to the Interim Financial StatementsPeriod Ended 31st March 2025
The percentage of shares held by the public as at 31st March 2025 was 20.40%. The number of shareholders representing the public holding was 1,395
The float adjusted market capitalization as at 31st March 2025 was LKR 465,222,988
The Float adjusted market capitalization of the Company falls under Option 5 of Rule 7.13.1 (i) (a) 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.
SHAREHOLDING OF DIRECTORS AND CEO AS AT 31ST MARCH 2025
The shareholding of the Directors and the CEO is set out below:
Name | Designation | No. of Shares |
Mr. P. G. D. B. Pallewatte | Chairman | Nil |
Mr. M. R. Abeywardena | Director | Nil |
Mr. J. D. N. Kekulawala | Director | Nil |
Mr. A. G. R. Dissanayake | Director | Nil |
Mr. K. Jayawardana | Director | Nil |
Mr. I.G.J. Palitha | Chief Executive Officer | Nil |
09
Corporate Information
NAME OF COMPANY
Lanka Ventures PLC
LEGAL FORM
A Public Limited Liability Company incorporated in Sri Lanka under the Companies Ordinance No. 51 of 1938, (Registered under the Companies Act No. 07 of 2007) and listed on the Colombo Stock Exchange.
REGISTRATION NUMBER
PQ 95
DATE OF INCORPORATION
21 February 1992
REGISTERED OFFICE
2nd Floor, "Sayuru Sevana", No. 46/12, Navam Mawatha, Colombo 02, Sri Lanka
Tel : +94 112439201 Fax : +94 112439203
E-Mail : lvl@sltnet.lk
DIRECTOR
Mr. P. G. D. B. Pallewatte Mr. M. R. Abeywardena Mr. J. D. N. Kekulawala Mr. A. G. R. Dissanayake Mr. K. Jayawardana
SECRETARIES
Corporate Services (Private) Limited
No. 216, De Saram Place, Colombo 10, Sri Lanka
AUDITORS
KPMG
No. 32A, Sir Mohamed Macan Markar Mawatha, Colombo 03, Sri Lanka
LAWYERS
F J & G De Saram
No 216 de Saram Place, Colombo 10, Sri Lanka.
SUBSIDIARY COMPANIES
LVL Energy Fund PLC
LVS Energy (Private) Limited Lanka Energy International (Private) Limited
Unit Energy Lanka (Private) Limited
Sapthakanya Hydro Electric Company (Private) Limited Campion Hydro (Private) Limited
Pupulaketiya Hydro Power (Private) Limited Solar Energy Investments (Private) Limited
Solar Energy Investments Pallekele (Private) Limited SEI Mathugama (Private) Limited
SEI Maho (Private) Limited
ASSOCIATE COMPANIES
Hayleys Hydro Energy (Private) Limited Neluwa Cascade Hydro Power (Private) Limited
Pawan Danavi (Private) Limited Nala Dhanavi (Private) Limited
Raj Lanka Power Company Limited Lakdhanavi Bangla Power Limited Feni Lanka Power Limited
Nividhu (Private) Limited
Nividhu Assupiniella (Private) Limited Bambarapana Hydro Power (Private) Limited LTL Energy (Private) Limited
Makari Gad Hydro Power ((Private) Limited Parambe Hydro (Private) Limited
ENV Engineering Enterprises Lanka (Private) Limited
BANKERS
Hatton National Bank PLC DFCC Bank PLC
National Development Bank PLC Sampath Bank PLC
Commercial Bank of Ceylon PLC
10
LANKA VENTURES PLC