Quarterly financial statements for period ended 30.06.2024

NAWALOKA HOSPITALS PLC

Statement of Comprehensive Income

Group

Company

Unaudited

Unaudited

30.06.2024

30.06.2023

30.06.2024

30.06.2023

Rs'000

Rs'000

Rs'000

Rs'000

Revenue

2,650,314

2,618,658

1,374,219

1,390,165

Cost of Services

(1,224,586)

(1,110,179)

(698,915)

(573,848)

Gross Profit

1,425,727

1,508,479

675,304

816,317

Other Income

31,276

22,173

29,932

20,912

Share of Profits of equity accounted

-

-

-

-

Staff Costs

(462,979)

(478,406)

(150,828)

(158,440)

Administrative Expenses

(555,169)

(455,983)

(261,432)

(235,621)

Other Operating Expenses

(26,700)

(25,762)

(11,656)

(20,132)

Profit from Operations

412,155

570,501

281,320

423,036

Finance Income

6,088

4,899

Finance Cost

(211,537)

(449,571)

(144,627)

(328,840)

Net Finance Cost

(205,449)

(449,571)

(139,728)

(328,840)

Share of Profits of equity accounted

investee,net of tax

-

-

-

Net Profit/(Loss) before Taxation

206,706

120,930

141,592

94,196

Tax Expenses

(82,827)

(600)

(47,353)

-

Profit/(Loss) for the period

123,879

120,330

94,239

94,196

Other Comprehensive Income

-

-

-

-

Total comprehensive income/(Expense)

123,879

120,330

94,239

94,196

for the period

Net Profit/(Loss) Attributable to

123,879

120,330

94,239

94,196

Equityholders of the Company

Earnings/(Loss) Per Share

0.09

0.09

0.07

0.07

NAWALOKA HOSPITALS PLC

Consolidated Statement of Financial Position

Group

Company

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

Unaudited

30.06.2024

30.06.2023

30.06.2024

30.06.2023

31.03.2024

31.03.2024

Rs'000.

Rs'000.

Rs'000.

Rs'000.

Rs'000.

Rs'000.

Assets

Non Current Assets

Property, Plant & Equipment

15,848,266

16,337,310

1,810,235

1,965,959

15,971,046

1,858,181

Right of Use Assets

173,946

347,914

41,590

54,880

177,729

41,861

Investment in Subsidiaries

-

-

945,933

945,933

-

945,933

Investment in equity - accounted investees

520,373

14,805

520,373

14,805

520,373

520,373

Total Non Current Assets

16,542,585

16,700,029

3,318,132

2,981,577

16,669,148

3,366,347

Current Assets

Inventories

439,846

697,703

229,174

406,154

350,696

171,634

Trade and Other Receivables

796,792

135,870

677,264

53,892

675,416

553,685

Amounts due from Related Parties

1,133,118

1,600,671

3,640,621

4,916,858

766,026

3,791,080

Current Tax Assets

3,859

-

-

-

3,859

-

Short Term Investment

245,247

165,980

197,682

127,064

239,841

193,272

Cash and Cash Equivalents

264,266

186,245

231,658

154,390

202,959

163,244

2,883,128

2,786,469

4,976,398

5,658,358

2,238,797

4,872,916

Total Assets

19,425,713

19,486,498

8,294,530

8,639,935

18,907,945

8,239,263

Equity and Liabilities

Capital and Reserves

Stated Capital

1,207,389

1,207,389

1,207,389

1,207,389

1,207,389

1,207,389

Revaluation Reserve

4,539,321

5,604,915

419,462

508,371

4,539,320

419,462

Accumulated Profit/Loss

(409,419)

541,740

(49,411)

(980,319)

(533,298)

(143,650)

Total Equity

5,337,290

7,354,044

1,577,440

735,441

5,213,411

1,483,201

Liabilities

Non Current Liabilities

Provision for Retiring Gratuities

221,364

333,840

158,099

212,910

209,025

145,854

D

Deferred Tax Liabilities

3,333,345

1,306,083

237,354

45,291

3,333,363

237,354

Borrowings

2,495,469

2,719,121

2,181,468

2,858,378

2,512,589

2,234,120

R

Lease Liabilities

824

105,267

51

1,120

1,312

51

6,051,002

4,464,310

2,576,972

3,117,698

6,056,289

2,617,379

Current Liabilities

Debentures

-

11,451

-

11,451

-

Trade Creditors and Other Payables

2,241,320

1,591,789

1,206,966

1,260,956

2,169,993

1,449,344

Dividend Payable

4,593

4,593

4,593

4,593

4,593

4,593

Current Tax Liabilities

191,091

196,468

50,537

129,677

118,264

13,183

Borrowings

4,044,778

4,407,284

1,867,549

2,447,050

4,072,527

1,912,625

Lease Liabilities

721

92,016

308

6,742

1,147

305

Bank Overdraft

1,554,918

1,364,542

1,010,166

926,326

1,271,721

758,633

8,037,421

7,656,693

4,140,118

4,775,345

7,638,245

4,138,683

Total Liabilities

14,088,423

12,132,454

6,717,089

7,904,494

13,694,534

6,756,062

Total Equity and Liabilities

19,425,713

19,486,498

8,294,530

8,639,935

18,907,945

8,239,263

Net Asset Per Share

3.79

5.22

1.12

0.52

3.70

1.05

……………………………………………

……………………………………………

Theja Vimuktha De Silva

Sampath Thennakoon

Finance Manager

Finance Manager - Reporting

……………………………………………

……………………………………………

Jayantha Dharmadasa

Prof. Lal.G.Chandrasena

Chairman / Chief Executive Officer

Director/General Manager

14th August 2024

Colombo 02

NAWALOKA HOSPITALS PLC

Cash Flow Staement for the Period Ended 30.06.2024

GROUP

COMPANY

Period

Period

Period

Period

Ended

Ended

Ended

Ended

30.06.2024

30.06.2023

30.06.2024

30.06.2023

Rs.000

Rs.000

Rs.000

Rs.000

Cash flows from/(used in) Operating Activities

123,879

120,930

94,239

94,196

Profit before Tax

Adjustments for :

Depreciation & Amortization

203,473

183,492

61,926

69,000

Interest expense on borrowings

189,284

449,571

130,821

328,840

Interest Income

(5,406)

(4,340)

(4,410)

(4,340)

Amortization of Right of Use assets

3,783

1,585

270

-

Provision for Retiring Gratuity

18,564

-

10,989

-

Operating Profit before Working Capital Changes

533,577

751,238

293,836

487,696

Changes in Working Capital

Decrease/(Increase) in Inventories

(89,150)

(235,717)

(57,539)

(182,918)

Decrease/(Increase) in Debtors, Deposits & Advances

(121,377)

(26,460)

(123,578)

(53,453)

Increase/Decrease in Related Party Balances

(367,092)

41,780

150,459

(251,127)

Increase/(Decrease) in Creditors & Other Payables

71,327

(156,233)

(242,379)

271,001

(506,292)

(376,630)

(273,038)

(216,497)

Cash Generated from/(Used in) Operating Activities

27,285

374,608

20,798

271,199

Interest Paid

(117,559)

(308,648)

(117,559)

(308,648)

Gratuity Paid

(6,226)

35,592

1,256

11,563

Income Tax

72,827

-

37,353

-

Net cash Generated (Used in)/from Operating Activities

(23,672)

101,552

(58,152)

(25,886)

Cash flows from Investing Activities

Purchase of Property, Plant & Equipment

(80,692)

15,959

(13,981)

(9,588)

Interest Received

-

4,340

-

4,340

Net cash Generated from/ (Used in) Investing Activities

(80,693)

20,299

(13,981)

(5,248)

Cash flows from Financing Activities

Proceeds from Long Term Borrowings and Leases

221,393

3,533,566

221,409

3,302,053

Repayments of Long Term Borrowings and Leases

(334,647)

(3,532,979)

(332,424)

(3,044,787)

(Repayments)/Proceeds of Leases

(4,272)

120,646

0

(3,958)

Debenture Repayment

-

408

-

408

Net cash Generated from/ (Used in) Financing Activities

(117,525)

121,641

(111,015)

253,716

Net Increase/(Decrease) in Cash & Cash equivalents

Cash & Cash equivalents during the period

(221,890)

243,492

(183,148)

222,582

Cash & Cash equivalents at the beginning of the period

(1,068,761)

(1,421,788)

(595,361)

(994,519)

Cash and Cash equivalents at the end of the period

(1,290,651)

(1,178,296)

(778,509)

(771,937)

Analysis of Cash and Cash equivalents at the end of the period

Cash at Bank & in Hand

264,266

186,245

231,658

154,390

Bank Overdraft

(1,554,918)

(1,364,542)

(1,010,166)

(926,326)

(1,290,651)

(1,178,296)

(778,509)

(771,937)

Group

Stated

Revaluation

Retained

Total

Capital

Reserve

Earnings

Equity

Rs'000

Rs'000

Rs'000

Rs'000

Balance as at 01st April 2023

1,207,389

5,604,932

421,409

7,233,713

Profit/(Loss) for the period

-

-

120,330

120,330

Other Comprehensive Income for the period

-

Balance as at 30th June 2023

1,207,389

5,604,932

541,739

7,354,044

Balance as at 01st April 2024

1,207,389

4,539,320

(533,298)

5,213,411

Profit/(Loss) for the period

-

-

123,879

123,879

Balance as at 30th June 2024

1,207,389

4,539,320

(409,419)

5,337,290

Stated

Revaluation

Retained

Total

Company

Capital

Reserve

Earnings

Equity

Rs'000

Rs'000

Rs'000

Rs'000

Balance as at 01st April 2023

1,207,389

508,371

(1,074,515)

641,245

Profit/(Loss) for the period

-

94,196

94,196

Other Comprehensive Income for the period

-

-

Balance as at 30th June 2024

1,207,389

508,371

(980,319)

735,441

Balance as at 01st April 2023

1,207,389

419,462

(143,650)

1,483,201

Profit/(Loss) for the period

-

-

94,239

94,239

Other Comprehensive Income for the period

-

-

-

Balance as at 30th June 2024

1,207,389

419,462

(49,411)

1,577,439

Notes form an integral part of these Financial Statements.

Figures in brackets indicate deductions.

GROUP

COMPANY

2024

2023

2024

2023

Rs'000

Rs'000

Rs'000

Rs'000

-

11,451

-

11,451

Interest

Value As

Comparative

Class

Issue

Coupon

Listing

Payable

Issued

Maturity

Quantity

Consideration

at 30th

Government

Yield to

Rate

Status

frequency

Date

Date

Received

June

Bonds Rates

Maturity

2024

Nos

Rs'000

Rs'000

%

%

F

Public

14.45%

Listed

Quarterly

30/09/2013

30/09/2023

110,600

11,060

-

25.99%

06.1 Market Summary

Class

Highest (Rs.)

Lowest (Rs.)

Last Traded (Rs.)

Traded Quantity

Last Traded Date

F

100.00

100.00

103.50

4000

2019-July-24

Group

Company

Debt/Equity ratio

0.55

0.72

Quick asset ratio

0.30

1.15

Interest cover

1.98

1.98

Interest Yield ratio

0.02

0.02

8. Share Information

As at

30/06/2024

31/03/2024

Shares held by public

482,433,208

482,433,208

Number of public shareholders

6,873

6,903

Public Holding Percentage

34.22%

34.22%

Compliant under option 3- Float adjusted market capitalization (LKR Mn)

1,978

1,978

8.2. DIRECTORS' SHAREHOLDING

The aggregate shareholding of the Directors as at

Name of the Director

30/06/2024

31/03/2024

Mr.H K J Dharmadasa

462,736,182

462,736,182

Mrs. A G Dharmadasa

5,066,686

5,066,686

Mr. Victor Rajamanner Ramanan

3,110,088

3,110,088

Mr. A G Dharmadasa

3,004,026

3,004,026

Vidya Jyothi Prof. Lal Chandrasena

601,198

601,198

Deshabandu Tilak De Zoysa

218,000

218,000

Dr. I.M.D.Z. Gunasekera

32,000

32,000

Dr.M.Rajakaruna

NIL

NIL

Mr. Sunil Abeyratne

NIL

NIL

Mr. T K Bandaranayake

NIL

NIL

Dr. M.T.D. Lakshan

NIL

NIL

NO

SHARE HOLDERS NAME

As at 30.06.2024

As at 31.03.2024

NO. OF SHARES

%

NO. OF SHARES

%

1

Mr H.K.J. Dharmadasa

462,736,182

32.83

462,736,182

32.83

2

Nawaloka Construction Company (Private) Limited

441,778,880

31.34

441,778,880

31.34

3

Mr. K.D.D. Perera

389,676,904

27.65

389,676,904

27.65

4

Employees Trust Fund Board

7,722,374

0.55

7,722,374

0.55

5

Mrs A.G. Dharmadasa

5,066,686

0.36

5,066,686

0.36

6

Mrs P. Nanayakkara

5,066,666

0.36

5,066,666

0.36

7

Mr. L. Hettiarachchi

4,070,000

0.29

4,000,000

0.28

8

Mr. V.R. Ramanan

3,110,088

0.22

3,110,088

0.22

9

Mr A.G. Dharmadasa

3,004,026

0.21

3,004,026

0.21

10

Nawaloka Developments (Pvt) Ltd

2,814,932

0.20

2,814,932

0.20

11

Mrs C.S. Dharmadasa

2,581,866

0.18

2,581,866

0.18

12

Mr. K.S. Warusavitarana

2,500,066

0.18

2,500,066

0.18

13

Freudenberg Shipping Agencies Limited

2,455,335

0.17

2,455,335

0.17

14

Seylan Bank Plc/Andaradeniya Estate (Pvt) Ltd

1,947,429

0.14

1,947,429

0.14

15

Tranz Dominion,L.L.C.

1,800,000

0.13

1,800,000

0.13

16

Senkadagala Finance PLC

1,250,000

0.09

1,250,000

0.09

17

Mr. G.C. Goonetilleke

1,205,000

0.09

1,205,000

0.09

18

J.B. Cocoshell (Pvt) Ltd

1,001,410

0.07

1,001,410

0.07

19

Ranatunga Motors (Pvt) Ltd

1,000,000

0.07

1,000,000

0.07

20

Mr. B.V. Selvanayagam

998,691

0.07

998,691

0.07

Total

1,342,636,433

95.26

1,341,306,433

95.14

Balance held by other shareholders

66,869,163

4.74

68,199,163

4.86

Total No. of shares

1,409,505,596

100

1,409,505,596

100

Corporate Information

Name of the Company

Secretaries to the Company

Nawaloka Hospitals PLC

C G Corporate Consultans (Pvt) Ltd

No:45, Visakha Road,

Colombo 04,

Company Registration No.

Sri Lanka

PQ 78

Auditors

Registered Office

KPMG

No. 23, Deshamanya H. K. Dharmadasa Mawatha,

Chartered Accountants,

Colombo 02, Sri Lanka.

No. 32A, Sir Mohamed Macan Markar Mawatha,

Colombo 03.

Telephone

(+94 11) 2544444-56,2305051-79, 5577111

Telefax

Lawyer(s)

(+94 11) 2430393

Sarath Wijewardana

E-mail/Website

AAL & NP

nawaloka@slt.lk, www.nawaloka.com

No. 28 Wilson Street

Halftsdrop,Colombo 12.

Legal Form

Quoted Public Company with limited liability incorporated in

Bankers

Sri Lanka under the Companies Ordinance 1938 and

Commercial Bank PLC

Re-registered under the Companies Act No. 07 of 2007.

Hatton National Bank PLC

Nations Trust Bank PLC

Amana Bank PLC

National Development Bank PLC

Bank of Ceylon

Board of Directors

Sampath Bank PLC

1. Dr. H.K. Jayantha Dharmadasa (Chairman and CEO)

Seylan Bank PLC

2. Mr. A.G. Dharmadasa (Deputy Chairman)

People's Bank

3. Vidya Jyothi Prof. Lal G. Chandrasena (Director/General Manager)

DFCC Bank PLC

4. Deshabandu Tilak de Zoysa

5. Mr. Tissa Kumara Bandaranayake

6. Mrs. A.G. Dharmadasa

7.Dr. I. M. D. Z. Gunasekera

Subsidiaries

8. Mr. Damian Sunil AbeyRatna

New Nawaloka Hospitals (Pvt) Ltd.

9.Mr. Victor Rajamanner Ramanan

New Nawaloka Medical Centre (Pvt) Ltd.

10.Dr.M.Rajakaruna

Nawaloka Laboratories (Pvt) Ltd.

11.Dr. M.T.D. Lakshan

Associate

Nawaloka College of Higher Studies (Pvt) Ltd.