Nawaloka Hospitals PLC
23, Deshamanya H K Dharmadasa Mw Colombo 02
Nawaloka Hospitals PLC Consolidated Statement of Comprehensive Income For the Three Months Ended 30th June 2025 | ||||
Group | Company | |||
Unaudited | Unaudited | |||
Quarter ended 30th June | Quarter ended 30th June | |||
30.06.2025 Rs'000 | 30.06.2024 Rs'000 | 30.06.2025 Rs'000 | 30.06.2024 Rs'000 | |
Revenue | 2,959,642 | 2,650,314 | 1,478,089 | 1,374,219 |
Cost of Services | (1,370,140) | (1,224,586) | (733,593) | (698,915) |
Gross Profit | 1,589,502 | 1,425,728 | 744,496 | 675,304 |
Other Income | 42,131 | 31,276 | 26,551 | 29,932 |
Staff Costs | (501,829) | (462,979) | (116,459) | (150,828) |
Administrative Expenses | (696,671) | (555,169) | (288,974) | (261,432) |
Other Operating Expenses | (28,847) | (26,700) | (17,845) | (11,656) |
Profit from Operations | 404,287 | 412,155 | 347,769 | 281,321 |
Finance Income | 5,962 | 6,088 | 5,375 | 4,899 |
Finance Cost | (228,687) | (211,537) | (121,956) | (144,627) |
Net Finance Cost | (222,725) | (205,449) | (116,582) | (139,728) |
Gain on Loan Settlement | 655,462 | - | - | - |
Net Profit/(Loss) before Taxation | 837,024 | 206,706 | 231,187 | 141,592 |
Tax Expenses | (102,285) | (82,827) | (74,397) | (47,353) |
Profit/(Loss) for the period | 734,739 | 123,879 | 156,791 | 94,239 |
Other Comprehensive Income | - | - | - | |
Total Comprehensive | 734,739 | 123,879 | 156,791 | 94,239 |
Income/(Expense) for the period | ||||
Net Profit/(Loss) Attributable to Equity | 734,739 | 123,879 | 156,791 | 94,239 |
holders of the Company | ||||
Earnings/(Loss) Per Share | 0.52 | 0.09 | 0.11 | 0.07 |
Nawaloka Hospitals PLC Consolidated Statement of Financial Position As at 30th June 2025 | ||||||
Group | Company | Group | Company | |||
Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | Unaudited | |
30.06.2025 Rs'000. | 30.06.2024 Rs'000. | 30.06.2025 Rs'000. | 30.06.2024 Rs'000. | 31.03.2025 Rs'000. | 31.03.2025 Rs'000. | |
Assets | ||||||
Non Current Assets | ||||||
Property, Plant & Equipment | 17,404,652 | 15,848,266 | 1,800,934 | 1,810,235 | 15,999,742 | 1,813,039 |
Right of Use Assets | 502,191 | 173,946 | 363,283 | 41,590 | 404,126 | 262,462 |
Investment in Subsidiaries | - | - | 945,933 | 945,933 | - | 945,933 |
Investment in Equity - Accounted Investees | 669,267 | 520,373 | 669,267 | 520,373 | 669,267 | 669,267 |
Financial Investment at Fair Value Through Profit or Loss | 5,412 | - | 5,412 | - | 25,412 | 25,412 |
Total Non Current Assets | 18,581,522 | 16,542,585 | 3,784,829 | 3,318,132 | 17,098,547 | 3,716,113 |
Current Assets | ||||||
Inventories | 529,669 | 439,846 | 278,590 | 229,174 | 478,166 | 249,164 |
Trade and Other Receivables | 902,479 | 796,792 | 804,946 | 677,264 | 853,422 | 762,002 |
Amounts due from Related Parties | 1,409,129 | 1,133,118 | 4,845,025 | 3,640,621 | 1,023,487 | 4,493,784 |
Current Tax Assets | 3,859 | 3,859 | - | - | 3,859 | - |
Short Term Investment | 236,095 | 245,247 | 202,840 | 197,682 | 280,040 | 198,340 |
Cash and Cash Equivalents | 191,058 | 264,266 | 106,611 | 231,658 | 188,537 | 144,331 |
3,272,289 | 2,883,128 | 6,238,011 | 4,976,399 | 2,827,511 | 5,847,621 | |
Total Assets | 21,853,811 | 19,425,713 | 10,022,840 | 8,294,530 | 19,926,058 | 9,563,734 |
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 | 5,004,817 | 4,539,321 | 420,011 | 419,462 | 5,004,817 | 420,011 |
Accumulated Profit/(Loss) | 151,072 | (409,419) | 781,332 | (49,411) | (583,667) | 624,541 |
Total Equity | 6,363,278 | 5,337,290 | 2,408,732 | 1,577,440 | 5,628,539 | 2,251,941 |
Liabilities | ||||||
Non Current Liabilities | ||||||
Provision for Retiring Gratuities | 367,160 | 221,364 | 243,483 | 158,099 | 355,894 | 232,235 |
Deferred Tax Liabilities | 3,349,331 | 3,333,345 | 223,687 | 237,354 | 3,349,348 | 223,687 |
Borrowings | 7,486,511 | 2,495,469 | 4,000,984 | 2,181,468 | 6,620,446 | 3,924,851 |
Lease Liabilities | 287,887 | 824 | 262,666 | 51 | 183,573 | 155,598 |
11,490,889 | 6,051,002 | 4,730,820 | 2,576,972 | 10,509,261 | 4,536,370 | |
Current Liabilities | ||||||
Trade Creditors and Other Payables | 1,843,911 | 2,241,320 | 1,254,860 | 1,206,966 | 2,142,481 | 1,387,711 |
Dividend Payable | 4,593 | 4,593 | 4,593 | 4,593 | 4,593 | 4,593 |
Current Tax Liabilities | 140,105 | 191,091 | 61,897 | 50,537 | 58,320 | - |
Amount due to Related Companies | 28,578 | - | 603,763 | - | 17,444 | 410,490 |
Borrowings | 570,960 | 4,044,778 | 128,400 | 1,867,549 | - | - |
Lease Liabilities | 2,908 | 721 | 2,653 | 308 | - | - |
Bank Overdraft | 1,408,589 | 1,554,918 | 827,123 | 1,010,166 | 1,565,420 | 972,630 |
3,999,644 | 8,037,421 | 2,883,288 | 4,140,118 | 3,788,258 | 2,775,423 | |
Total Liabilities | 15,490,533 | 14,088,423 | 7,614,108 | 6,717,090 | 14,297,519 | 7,311,793 |
Total Equity and Liabilities | 21,853,811 | 19,425,713 | 10,022,840 | 8,294,530 | 19,926,058 | 9,563,734 |
Net Asset Per Share | 4.51 | 3.79 | 1.71 | 1.12 | 3.99 | 1.60 |
It is certified that the Financial Statements have been prepared and presented in compliance with the requirements of the Companies Act, No.07 of 2007.
…………………………………………… Theja Vimuktha De Silva
Group Chief Financial Officer
…………………………………………… Sampath Thennakoon
Chief Financial Officer
…………………………………………… ……………………………………………
Dr.H.K.Jayantha Dharmadasa Prof. Lal.G.Chandrasena
Chairman / Chief Executive Officer Director/General Manager 13th August 2025
Colombo 02
Page 2 NH_Quarterly Financial Statement 30.06.2025 V12
Nawaloka Hospitals PLC
Statement of Changes in Equity For the Period Ended 30th June 2025
Group | Stated Capital Rs'000 | Revaluation Reserve Rs'000 | Retained Earnings Rs'000 | Total Equity Rs'000 |
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 |
Balance as at 01st April 2025 | 1,207,389 | 5,004,817 | (583,667) | 5,628,539 |
Profit/(Loss) for the period | - | - | 734,739 | 734,739 |
Balance as at 30th June 2025 | 1,207,389 | 5,004,817 | 151,072 | 6,363,278 |
Company | Stated Capital Rs'000 | Revaluation Reserve Rs'000 | Retained Earnings Rs'000 | Total Equity Rs'000 |
Balance as at 01st April 2024 | 1,207,389 | 419,462 | (143,650) | 1,483,201 |
Profit/(Loss) for the period | - | 94,239 | 94,239 | |
Balance as at 30th June 2024 | 1,207,389 | 419,462 | (49,411) | 1,577,440 |
Balance as at 01st April 2025 | 1,207,389 | 420,011 | 624,541 | 2,251,941 |
Profit/(Loss) for the period | - | - | 156,791 | 156,791 |
Balance as at 30th June 2025 | 1,207,389 | 420,011 | 781,332 | 2,408,732 |
Notes form an integral part of these Financial Statements. Figures in brackets indicate deductions.
Nawaloka Hospitals PLC Statement of Cash Flows For the Period Ended 30th June 2025 | ||||
GROUP | COMPANY | |||
Period Ended 30.06.2025 Rs.000 | Period Ended 30.06.2024 Rs.000 | Period Ended 30.06.2025 Rs.000 | Period Ended 30.06.2024 Rs.000 | |
Cash flows from/(used in) Operating Activities | 837,024 | 206,706 | 231,187 | 141,592 |
Profit before Tax | ||||
Adjustments for : | ||||
Depreciation & Amortization | 195,965 | 203,473 | 34,467 | 61,926 |
Finance Cost | 228,687 | 189,284 | 121,956 | 130,821 |
Gain on Loan Settlement | (655,462) | - | - | - |
Interest Income | (5,960) | (5,406) | (5,375) | (4,410) |
Amortization of Right of Use Assets | 17,310 | 3,783 | 14,554 | 270 |
Provision for Retiring Gratuity | 18,773 | 18,564 | 14,375 | 10,989 |
Operating Profit Before Working Capital Changes | 636,337 | 616,405 | 411,165 | 341,189 |
Changes in Working Capital | ||||
Decrease/(Increase) in Inventories | (51,503) | (89,150) | (29,426) | (57,539) |
Decrease/(Increase) in Debtors, Deposits & Advances | (49,057) | (121,377) | (42,944) | (123,578) |
Increase/Decrease in Related Party Balances | (374,509) | (367,092) | (157,967) | 150,459 |
Increase/(Decrease) in Creditors & Other Payables | (298,570) | 71,327 | (132,851) | (242,379) |
(773,639) | (506,292) | (363,188) | (273,038) | |
Cash Generated from/(Used in) Operating Activities | (137,302) | 110,113 | 47,977 | 68,151 |
Interest Paid | (39,362) | (117,559) | (10,528) | (117,559) |
Gratuity Paid | (7,524) | (6,226) | (3,126) | 1,256 |
Income Tax Paid | (20,500) | (10,000) | (12,500) | (10,000) |
Net cash Generated from /(Used in) Operating Activities | (204,688) | (23,672) | 21,823 | (58,152) |
Cash flows from Investing Activities | ||||
(Investment)/Withdrawal in Fixed Deposit | 48,745 | - | - | - |
Purchase of Property, Plant & Equipment | (1,600,877) | (80,692) | (22,363) | (13,981) |
Interest Received | 1,160 | - | 875 | - |
Investment/(Withdrawal) Other Investment | 20,000 | - | 20,000 | - |
Net cash Generated from/ (Used in) Investing Activities | (1,530,972) | (80,692) | (1,488) | (13,981) |
Cash flows from Financing Activities | ||||
Proceeds from Long Term Borrowings | 7,054,367 | 221,393 | 3,114,367 | 221,409 |
Repayments of Long Term Borrowings | (5,137,350) | (334,647) | (3,017,040) | (332,424) |
Repayments Proceeds of Leases | (22,009) | (4,272) | (9,877) | - |
Net cash Generated from/ (Used in) Financing Activities | 1,895,007 | (117,525) | 87,450 | (111,015) |
Net Increase/(Decrease) in Cash & Cash equivalents | ||||
Cash & Cash equivalents during the period | 159,348 | (221,890) | 107,785 | (183,148) |
Cash & Cash equivalents at the beginning of the period | (1,376,883) | (1,068,761) | (828,298) | (595,361) |
Cash and Cash equivalents at the end of the period | (1,217,535) | (1,290,651) | (720,513) | (778,509) |
Analysis of Cash and Cash equivalents at the end of the period | ||||
Cash at Bank & in Hand | 191,058 | 264,266 | 106,611 | 231,658 |
Bank Overdraft | (1,408,589) | (1,554,918) | (827,123) | (1,010,166) |
(1,217,535) | (1,290,651) | (720,513) | (778,509) | |
Nawaloka Hospitals PLC
Notes to the Interim Financial Statements
Corporate Information
General
Nawaloka Hospitals PLC ('Company') is a quoted public company with limited liability incorporated in Sri Lanka under the provisions of the Companies Act No. 07 of 2007 and the ordinary shares of the company are listed on the Colombo Stock Exchange.
The registered office and the principal place of business of the Company is located at No. 23, Deshamanya H.K Dharmadasa Mawatha, Colombo 02.
Date of Authorization for Issue
The Interim Condensed Financial Statements of the Group and Company for the period ended 30th June 2025 were authorized for issue by the Board of Directors on 13th August 2025.
Basis of Preparation
Interim Financial Statements of Nawaloka Hospitals PLC and its subsidiaries comprise the Consolidated Statement of Financial Position, and the Statements of Comprehensive Income, Other Comprehensive Income, Changes in Equity and Cashflows together with accounting policies and notes thereon and have been prepared in accordance with the Sri Lanka Accounting Standards LKAS 34 - Interim Financial Reporting and requirements of the Companies Act No. 7 of 2007.
The Financial Statements of the company and those consolidated with such for the interim period have been prepared on the same basis as the most recent audited financial statements.
Other Information
Expense Recognition
The financial statements include all expenses that are known and measurable as at the reporting date.
Significant Contingencies
A legal proceeding has been initiated in the Commercial High Court of Colombo under Case No. 59/2023 CO against the company, seeking the cancellation of 5,049,500 shares of Nawaloka College of Higher Studies (Private) Limited which is an associate of the company.
On 17th December 2024, the Court issued an order regarding the cancellation of these shares. The Company has taken immediate legal measures by filing a notice of appeal on 31st December 2024, followed by an appeal petition on 31st January 2025. The matter remains under judicial consideration, and the Company is actively pursuing its legal rights.
Event After the Reporting Date
No material events have occurred after the reporting date that require disclosure in the interim condensed financial statements.
5.Performance Highlights | Group | Company |
Debt/Equity ratio | 1.53 | 2.17 |
Quick asset ratio | 0.69 | 2.07 |
Interest cover | 1.79 | 2.90 |
Interest Yield ratio | 0.03 | 0.03 |
Investor Information
Public Shareholding Information
As at
30.06.2025
31.03.2025
Shares held by public
482,433,208
482,433,208
Number of public shareholders
6,909
6,883
Public Holding Percentage
34.22%
34.22%
Compliant under option 3- Float adjusted market capitalization (LKR Mn)
2,895
2,557
Directors' Shareholding Information
The aggregate shareholding of the Directors as at
Name of the Director
30.06.2025
31.03.2025
Mr. H K J Dharmadasa
462,736,182
462,736,182
Miss. 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. T K Bandaranayake
NIL
NIL
Dr. M.T.D. Lakshan
NIL
NIL
MR.V.T.De Zoysa
NIL
NIL
DR.D.B.S.C.Bandara
NIL
NIL
MR.C.P.Wijetilleke
NIL
NIL
DR.R.M.S.Pushpakumara
NIL
NIL
Prof.P.P.M.Jayaweera
NIL
NIL
Number of shares representing the entity's stated capital as at
As at
30.06.2025
31.03.2025
No. of shares
1,409,505,596
1,409,505,596
As at
30.06.2025
31.03.2025
Net Asset value per share (Rs)
4.51
3.99
Share prices during the interim period as at
30.06.2025
31.03.2025
Rs.
Rs.
Highest Price
6.60
6.80
Lowest Price
4.80
4.40
Last Traded Price
6.00
5.30
Major Shareholdings Twenty Largest Shareholders
No | Share Holders Name | As at 30.06.2025 | As at 31.03.2025 | ||
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 | Miss 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 | 4,355,720 | 0.31 | 4,315,720 | 0.31 |
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 | Mr. K.S. Warusavitarana | 2,618,786 | 0.19 | 2,618,786 | 0.19 |
12 | Mrs C.S. Dharmadasa | 2,581,866 | 0.18 | 2,581,866 | 0.18 |
13 | Freudenberg Shipping Agencies Limited | 2,000,000 | 0.14 | 2,306,185 | 0.16 |
14 | Tranz Dominion,L.L.C. | 2,000,000 | 0.14 | 1,950,000 | 0.14 |
15 | Seylan Bank Plc/Andaradeniya Estate (Pvt) Ltd | 1,947,429 | 0.14 | 1,947,429 | 0.14 |
16 | J.B. Cocoshell (Pvt) Ltd | 1,376,677 | 0.10 | 1,376,677 | 0.10 |
17 | MR.R.T.V.Ravindra | 1,231,371 | 0.09 | 702,000 | 0.05 |
18 | Mr. G.C. Goonetilleke | 1,205,000 | 0.09 | 1,205,000 | 0.09 |
19 | Mr. B.A.A.S.Basnayaka | 1,100,000 | 0.08 | 1,100,000 | 0.08 |
20 | Mr.M.T.Rjab Khan | 1,036,768 | 0.07 | 1,016,768 | 0.07 |
Total | 1,342,430,355 | 95.24 | 1,342,097,169 | 95.22 |
Balance held by other shareholders | 67,075,241 | 4.76 | 67,408,427 | 4.78 |
Total No. of shares | 1,409,505,596 | 100.00 | 1,409,505,596 | 100.00 |
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 Sanath Wijewardana
E-mail/Website AAL & NP
nawaloka@slt.lk, https://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
Bank of Ceylon
Board of Directors Sampath Bank PLC
Dr.H.K. Jayantha Dharmadasa (Chairman and CEO) Seylan Bank PLC
Mr.A.G. Dharmadasa (Deputy Chairman) People's Bank
Vidya Jyothi Prof. Lal G. Chandrasena (Director/General Manager) 4.Deshabandu Tilak De Zoysa
Mr. Tissa Kumara Bandaranayake
Mrs. A.G. Dharmadasa
Dr. I. M. D. Z. Gunasekera Subsidiaries
Mr. Victor Rajamanner Ramanan New Nawaloka Hospitals (Pvt) Ltd.
Dr.M.Rajakaruna New Nawaloka Medical Centre (Pvt) Ltd.
Dr. M.T.D. Lakshan Nawaloka Laboratories (Pvt) Ltd. 11.Mr.V.T.De Zoysa
12.Dr.D.B.S.C.Bandara 13.Mr.C.P.Wijetilleke
14.Dr.R.M.S.Pushpakumara Associate
15.Prof.P.P.P.M.Jayaweera Nawaloka College of Higher Studies (Pvt) Ltd.