26/05/20259:55 PM
NAWALOKA HOSPITALS PLC
Consolidated Statement of Comprehensive Income
Group Company
Unaudited | Unaudited | Audited | Unaudited | Unaudited | Audited | |||
Quarter ended 31st March | Year ended 31st March | Quarter ended 31st March | Year ended 31st March | |||||
31.03.2025 Rs'000 | 31.03.2024 Rs'000 | 31.03.2025 Rs'000 | 31.03.2024 Rs'000 | 31.03.2025 Rs'000 | 31.03.2024 Rs'000 | 31.03.2025 Rs'000 | 31.03.2024 Rs'000 | |
Revenue | 2,780,612 | 2,700,367 | 11,106,854 | 10,379,165 | 1,560,228 | 1,484,661 | 5,728,883 | 5,481,589 |
Cost of Services | (1,252,827) | (1,164,841) | (5,105,329) | (4,762,524) | (696,058) | (720,484) | (2,714,737) | (2,542,989) |
Gross Profit | 1,527,785 | 1,535,526 | 6,001,525 | 5,616,641 | 864,170 | 764,177 | 3,014,146 | 2,938,600 |
Other Income | 61,929 | 15,934 | 156,999 | 181,341 | 3,120 | 14,828 | 94,730 | 81,668 |
Staff Costs | (449,722) | (423,800) | (1,961,106) | (1,905,866) | (152,837) | (137,075) | (613,230) | (628,815) |
Administrative Expenses | (468,004) | (902,604) | (2,439,618) | (2,712,234) | (255,393) | (392,134) | (1,146,583) | (1,002,953) |
Other Operating Expenses | (34,015) | (19,445) | (100,685) | (155,266) | (28,307) | (20,448) | (75,320) | (68,152) |
Profit from Operations | 637,972 | 205,611 | 1,657,115 | 1,024,616 | 430,752 | 229,349 | 1,273,743 | 1,320,348 |
Finance Income | 9,952 | 14,727 | 26,309 | 71,293 | 7,272 | 4,550 | 19,781 | 61,810 |
Finance Cost | (322,636) | (257,345) | (907,484) | (1,491,445) | (119,824) | (152,033) | (513,438) | (954,476) |
Net Finance Cost | (312,684) | (242,826) | (881,175) | (1,420,152) | (112,552) | (147,483) | (493,656) | (892,666) |
Share of Profits of equity accounted | ||||||||
investee,net of tax | - | 309,992 | - | 148,529 | - | 309,992 | - | 148,529 |
Net Profit/(Loss) before Taxation | 325,288 | 272,777 | 775,940 | (247,007) | 318,199 | 391,858 | 780,086 | 576,211 |
- | - | |||||||
Tax Expenses | (186,982) | (45,479) | (431,586) - | (57,740) | (152,817) | (100,403) | (290,243) | 3,441 |
Profit/(Loss) for the period | 138,306 | 227,299 | 344,354 | (304,747) | 165,382 | 291,455 | 489,843 | 579,652 |
Other Comprehensive Income | - | - | - | (33,355) | - | - | - | (22,889) |
Total comprehensive income/(Expense) | 138,306 | 227,299 | 344,354 | (338,102) | 165,382 | 291,455 | 489,843 | 556,763 |
for the period | ||||||||
Net Profit/(Loss) Attributable to Equity | 138,306 | 227,299 | 344,354 | (338,102) | 165,382 | 291,455 | 489,843 | 556,763 |
holders of the Company | ||||||||
Earnings/(Loss) Per Share | 0.10 | 0.16 | 0.24 | (0.22) | 0.12 | 0.21 | 0.35 | 0.41 |
Page 1 NH_Quarterly FS March 2025 V5
NAWALOKA HOSPITALS PLC Consolidated Statement of Financial Position | ||||
Group | Company | |||
Unaudited | Audited | Unaudited | Audited | |
31.03.2025 Rs'000. | 31.03.2024 Rs'000. | 31.03.2025 Rs'000. | 31.03.2024 Rs'000. | |
Assets | ||||
Non Current Assets | ||||
Property, Plant & Equipment | 16,807,325 | 15,996,286 | 2,016,720 | 1,858,181 |
Right of Use Assets | 401,901 | 208,238 | 259,161 | 41,861 |
Investment in Subsidiaries | - | - | 945,933 | 945,933 |
Investment in equity - accounted investees | 359,880 | 359,880 | 359,880 | 359,880 |
Total Non Current Assets | 17,569,107 | 16,564,403 | 3,581,694 | 3,205,854 |
Current Assets | ||||
Inventories | 375,432 | 350,556 | 217,401 | 176,817 |
Trade and Other Receivables | 698,138 | 670,593 | 630,737 | 604,808 |
Amounts due from Related Parties | 719,353 | 638,507 | 4,279,328 | 4,071,163 |
Short Term Investment | 280,040 | 239,842 | 198,340 | 193,272 |
Cash and Cash Equivalents | 149,362 | 231,146 | 114,389 | 188,689 |
2,222,325 | 2,130,644 | 5,440,195 | 5,234,750 | |
Total Assets | 19,791,432 | 18,695,047 | 9,021,889 | 8,440,604 |
Equity and Liabilities | ||||
Capital and Reserves | ||||
Stated Capital | 1,207,389 | 1,207,389 | 1,207,389 | 1,207,389 |
Revaluation Reserve | 4,539,320 | 4,539,321 | 419,462 | 419,462 |
Accumulated Profit/Loss | (816,956) | (1,161,311) | 159,289 | (330,554) |
Total Equity | 4,929,753 | 4,585,399 | 1,786,139 | 1,296,297 |
Liabilities | ||||
Non Current Liabilities | ||||
Provision for Retiring Gratuities | 355,498 | 330,452 | 259,804 | 221,806 |
Deferred Tax Liabilities | 3,449,868 | 3,349,348 | 249,204 | 223,687 |
Borrowings | 1,349,848 | 1,989,413 | 1,349,848 | 1,989,413 |
Lease Liabilities | 67,763 | 70,494 | 54,777 | - |
5,222,977 | 5,739,707 | 1,913,633 | 2,434,907 | |
Current Liabilities | ||||
Trade Creditors and Other Payables | 2,500,341 | 2,802,597 | 1,359,939 | 1,874,658 |
Dividend Payable | 4,593 | 4,593 | 4,593 | 4,593 |
Current Tax Liabilities | 334,749 | 108,461 | 213,966 | - |
Amount due to Related Companies | 217,955 | 8,728 | 547,928 | 244,834 |
Borrowings | 5,150,729 | 4,691,190 | 2,470,139 | 2,194,504 |
Lease Liabilities | 44,582 | 13,915 | 33,158 | 355 |
Bank Overdraft | 1,385,753 | 740,457 | 692,394 | 390,457 |
9,638,702 | 8,369,941 | 5,322,117 | 4,709,401 | |
Total Liabilities | 14,861,679 | 14,109,648 | 7,235,750 | 7,144,308 |
Total Equity and Liabilities | 19,791,432 | 18,695,047 | 9,021,889 | 8,440,604 |
Net Asset Per Share | 3.50 | 3.25 | 1.27 | 0.92 |
It is confirmed 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 Sampath Thennakoon
Group Chief Finance Officer Chief Finance Officer
…………………………………………… …………………………………………
Dr.H.K.Jayantha Dharmadasa Prof. Lal.G.Chandrasena
Chairman / Chief Executive Officer Director/General Manager 27th May 2025
Colombo 02
Page 2 NH_Quarterly FS March 2025 V5
NAWALOKA HOSPITALS PLC Statement of Changes in Equity for the Period Ended 31.03.2025 | ||||
Group | Stated Capital Rs'000 | Revaluation Reserve Rs'000 | Retained Earnings Rs'000 | Total Equity Rs'000 |
Balance as at 01st April 2023 | 1,207,389 | 4,539,320 | (823,208) | 4,923,501 |
Profit/(Loss) for the period | - | - | (338,102) | (338,102) |
Balance as at 31st March 2024 | 1,207,389 | 4,539,320 | (1,161,310) | 4,585,398 |
Balance as at 01st April 2024 | 1,207,389 | 4,539,320 | (1,161,310) | 4,585,399 |
Profit/(Loss) for the period | - | - | 344,354 | 344,354 |
Balance as at 31st March 2025 | 1,207,389 | 4,539,320 | (816,956) | 4,929,753 |
Company | Stated Capital Rs'000 | Revaluation Reserve Rs'000 | Retained Earnings Rs'000 | Total Equity Rs'000 |
Balance as at 01st April 2023 | 1,207,389 | 419,462 | (887,317) | 739,534 |
Profit/(Loss) for the period | - | 556,763 | 556,763 | |
Balance as at 31st March 2024 | 1,207,389 | 419,462 | (330,554) | 1,296,297 |
Balance as at 01st April 2024 | 1,207,389 | 419,462 | (330,554) | 1,296,297 |
Profit/(Loss) for the period | - | - | 489,843 | 489,843 |
Balance as at 31st March 2025 | 1,207,389 | 419,462 | 159,289 | 1,786,139 |
Notes form an integral part of these Financial Statements. Figures in brackets indicate deductions.
NAWALOKA HOSPITALS PLC Cash Flow Statement for the Period Ended 31.03.2025 | ||||
GROUP | COMPANY | |||
Period | Period | Period | Period | |
Ended | Ended | Ended | Ended | |
31.03.2025 | 31.03.2024 | 31.03.2025 | 31.03.2024 | |
Rs.000 | Rs.000 | Rs.000 | Rs.000 | |
Cash flows from/(used in) Operating Activities | 775,940 | (247,007) | 780,086 | 576,211 |
Profit before Tax | ||||
Adjustments for : | ||||
Jointly controlled entity results | - | |||
Depreciation & Amortization | 820,817 | 825,973 | 220,552 | 268,964 |
Dividend Income | - | - | - | |
Unrealized Foreign Exchange Loss on borrowings | - | (33,410) | - | (33,410) |
Finance Cost | 902,890 | 1,491,445 | 509,124 | 954,476 |
Interest Income | (20,199) | (37,562) | (15,068) | (26,569) |
Amortization of Right of Use assets | 17,177 | 34,854 | 5,630 | 9,600 |
Provision for Impairment of related party receivables | - | 42,319 | - | 42,319 |
Reversal of Provision for impairment of prepayments | - | 1,745 | - | 1,745 |
Provision for Impairment of trade receivables | - | (78,344) | - | (78,344) |
Provision for Impairment of other Debtors | - | 47,421 | - | 24,317 |
Loss/(Profit) on disposal of Property plant and equipment | - | 5,129 | - | - |
Provision for Retiring Gratuity | 74,256 | 76,128 | 43,956 | 44,326 |
Shared of profit of equity - accounted investee,net of tax | (0) | (148,529) | - | (148,529) |
Loss on derecognition of right of use asset and lease liability | - | (3,822) | - | (1,458) |
Provision for Slow moving inventories | - | 140 | - | 84 |
Operating Profit before Working Capital Changes | 2,570,882 | 1,976,480 | 1,544,281 | 1,633,732 |
Changes in Working Capital | ||||
Decrease/(Increase) in Inventories | (24,876) | (1,622) | (40,584) | (20,761) |
Decrease/(Increase) in Debtors, Deposits & Advances | (27,545) | (88,905) | (25,929) | (98,656) |
Increase/Decrease in Related Party Balances | 128,380 | (55,609) | 94,929 | 399,876 |
Increase/(Decrease) in Creditors & Other Payables | (302,256) | 563,499 | (514,719) | 251,667 |
(226,297) | 417,364 | (486,303) | 532,126 | |
Cash Generated from/(Used in) Operating Activities | 2,344,585 | 2,393,844 | 1,057,978 | 2,165,859 |
Interest Paid | (247,013) | (217,406) | (63,226) | (92,073) |
Gratuity Paid | (49,228) | (47,260) | (5,959) | (29,385) |
Income Tax Paid | (104,760) | (5,050) | (50,760) | - |
Net cash Generated (Used in)/from Operating Activities | 1,943,585 | 2,124,127 | 938,033 | 2,044,401 |
Cash flows from Investing Activities | ||||
Investment/(Withdrawal) in Fixed Deposit | (20,000) | (73,672) | 10,000 | (67,473) |
Purchase of Property, Plant & Equipment | (1,631,858) | (76,826) | (379,092) | (70,779) |
Investment/ (Derecognition) in Right of use assets | (210,841) | - | (222,930) | - |
Interest Received | - | 41,098 | - | 28,717 |
Net cash Generated from/ (Used in) Investing Activities | (1,862,699) | (109,400) | (592,022) | (109,536) |
Cash flows from Financing Activities | ||||
Proceeds from Long Term Borrowings and Leases | 1,969,000 | 3,594,834 | 1,969,000 | 3,594,834 |
Repayments of Long Term Borrowings and Leases | (2,750,554) | (5,160,577) | (2,750,554) | (5,098,103) |
Repayment from Commercial paper | - | (245,040) | - | (245,040) |
Repayments Proceeds of Leases | (26,416) | (12,016) | 59,304 | (10,745) |
Debenture Repayment | - | (11,043) | - | (11,043) |
Net cash Generated from/ (Used in) Financing Activities | (807,970) | (1,833,843) | (722,250) | (1,770,097) |
Net Increase/(Decrease) in Cash & Cash equivalents | ||||
Cash & Cash equivalents during the period | (727,084) | 180,883 | (376,238) | 164,769 |
Cash & Cash equivalents at the beginning of the period | (509,311) | (690,196) | (201,768) | (366,537) |
Cash and Cash equivalents at the end of the period | (1,236,395) | (509,310) | (578,006) | (201,768) |
Analysis of Cash and Cash equivalents at the end of the period | ||||
Cash at Bank & in Hand | 149,362 | 231,146 | 114,389 | 188,689 |
Bank Overdraft | (1,385,753) | (740,457) | (692,394) | (390,457) |
(1,236,395) | (509,310) | (578,006) | (201,768) | |
EXPLANATORY NOTES
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.
No material circumstances have been arisen during post reporting period which require adjustments or disclosures.
4 All known expenses have been provided in the financial statements.
26/05/20259:55 PM
NAWALOKA HOSPITALS PLC NOTES TO THE FINANCIAL STATEMENTS
05 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.
06 | Ratios | Group | Company |
Debt/Equity ratio | 1.32 | 2.14 | |
Quick asset ratio | 0.19 | 0.98 | |
Interest cover | 2.01 | 3.66 | |
Interest Yield ratio | 0.04 | 0.04 |
7. Share Information
As at | 31.03.2025 | 31.12.2024 |
Shares held by public | 482,433,208 | 482,433,208 |
Number of public shareholders | 6,883 | 6,758 |
Public Holding Percentage | 34.22% | 34.23% |
Compliant under option 3- Float adjusted market capitalization (LKR Mn) | 2,123 | 2,123 |
7.2. DIRECTORS' SHAREHOLDING
The aggregate shareholding of the Directors as at
Name of the Director | 31.03.2025 | 31.12.2024 |
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. 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.P.M.Jayaweera | NIL | NIL |
08. Number of shares representing the entity's stated capital as at
As at | 31.03.2025 | 31.12.2024 |
No. of shares | 1,409,505,596 | 1,409,505,596 |
As at | 31.03.2025 | 31.12.2024 |
Net Asset value per share (Rs) | 3.50 | 3.40 |
09. Share prices during the interim period as at
31.03.2025 | 31.12.2024 | |
Rs. | Rs. | |
Highest Price | 6.80 | 4.70 |
Lowest Price | 5.30 | 3.80 |
Last Traded Price | 4.40 | 4.40 |
NO | SHARE HOLDERS NAME | As at 31.03.2025 | As at 31.12.2024 | ||
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 | 4,315,720 | 0.31 | 4,195,720 | 0.30 |
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 | 2,618,786 | 0.19 | 2,618,786 | 0.19 |
13 | Freudenberg Shipping Agencies Limited | 2,306,185 | 0.16 | 2,797,405 | 0.20 |
14 | Seylan Bank Plc/Andaradeniya Estate (Pvt) Ltd | 1,947,429 | 0.14 | 1,947,429 | 0.14 |
15 | Tranz Dominion,L.L.C. | 1,950,000 | 0.14 | 1,900,000 | 0.13 |
16 | Mr. G.C. Goonetilleke | 1,205,000 | 0.09 | 1,205,000 | 0.09 |
17 | Mr. B.A.A.S.Basnayaka | 1,100,000 | 0.08 | - | 0.00 |
18 | J.B. Cocoshell (Pvt) Ltd | 1,376,677 | 0.10 | 1,001,410 | 0.07 |
19 | Ranatunga Motors (Pvt) Ltd | 1,000,000 | 0.07 | 1,000,000 | 0.07 |
20 | Mr.M.T.Rjab Khan | 1,016,768 | 0.07 | 1,016,768 | 0.07 |
Total | 1,342,395,169 | 95.24 | 1,342,239,813 | 95.23 |
Balance held by other shareholders | 67,110,427 | 4.76 | 67,265,783 | 4.77 |
Total No. of shares | 1,409,505,596 | 100.00 | 1,409,505,596 | 100.00 |
26/05/20259:55 P.M
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, https://www.nawaloka.com No. 28 Wilson Street Halftsdrop,Colombo 12.
Legal Form 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
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) DFCC Bank PLC
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. 12.DR.D.B.S.C.Bandara
MR.C.P.Wijetilleke
DR.R.M.S.Pushpakumara Associate
Prof.P.P.P.M.Jayaweera Nawaloka College of Higher Studies (Pvt) Ltd.