RAMBODA FALLS PLC
INTERIM FINANCIAL STATEMENTS -02nd QUARTER SIX (06) MONTHS ENDED 30th SEPTEMBER 2024
RAMBODA FALLS PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the Six Months ended 30th September
Three Months Ended 30th | Six Months Ended 30th | |||||
September | September | |||||
2024 | 2023 | Variance | 2024 | 2023 | Variance | |
Rs. | Rs. | % | Rs. | Rs. | % | |
(Un-audited) | (Audited) | (Un-audited) | (Audited) |
Revenue | 46,170,951 | 37,275,350 | 24 |
Direct Cost | (24,470,418) | (20,012,354) | 22 |
Gross Profit | 21,700,534 | 17,262,996 | |
Other Operating Income | 1,238,269 | 790,097 | 57 |
Administration & Other Expenses | (19,404,367) | (17,530,704) | 11 |
Marketing & Selling Expenses | (2,400,226) | (1,697,643) | 41 |
Profit / (Loss) From Operations | 1,134,209 | (1,175,254) |
85,906,733 | 66,590,465 | 29 |
(46,348,272) | (35,790,466) | 29 |
39,558,461 | 30,799,999 | |
2,072,566 | 1,474,837 | 41 |
(38,036,353) | (32,797,491) | 16 |
(4,844,501) | (3,255,491) | 49 |
(1,249,827) | (3,778,146) |
Finance Income | 790,795 | 928,040 | (15) |
Finance Expenses | - | (22,305) | (100) |
Net Finance Income/(Cost) | 790,795 | 905,735 | (13) |
Profit / (Loss) Before Taxation | 1,925,004 | (269,519) | (814) |
Income Tax Expences | (5,152,538) | (151,637) | |
Profit / (Loss) for the Period | (3,227,534) | (421,156) | 666 |
1,659,719 | 1,438,866 | 15 |
- (54,224) (100)
1,659,719 1,384,642 (20)
409,892 (2,393,504) (117)
(5,152,538) (400,441)
(4,742,646) (2,793,946) 70
Other comprehensive income
Items that are or may be reclassified subsequently to profit ot loss Remeasurement of Defined Benefit Obligation Related tax on Remeasurement of Define Benefi Revaluation Surplus
Related Tax on Revaluation Surplus
Other Comphehencive Income for the year ,
Total Comprehensive Income/(loss) for the Period
- | - | - | - | ||
- | - | - | - | ||
- | - | - | - | ||
- | - | - | - | ||
(3,227,534) | (421,156) | (4,742,646) | (2,793,946) | 70 | |
666 | |||||
Profit / (Loss) Per Share | (0.16) | (0.02) | (0.24) | (0.14) |
RAMBODA FALLS PLC
STATEMENT OF FINANCIAL POSITION
As at 30th September | 2024 | 2023 | ||
ASSETS | Rs. | Rs. | ||
Non-Current Assets | ||||
Property, Plant & Equipment | 646,122,589 | 656,494,051 | ||
Intangible Asset | - | 4,658 | ||
Total Non Current Assets | 646,122,589 | 656,498,708 | ||
Current Assets | ||||
Inventories | 6,521,399 | 5,096,058 | ||
Trade & Other Receivables | 8,326,464 | 5,593,984 | ||
Financial Assests Measured at Amortised Cost | 12,872,980 | - | ||
Cash & Cash Equivalents | 32,476,455 | 32,226,400 | ||
Total Current Assets | 60,197,298 | 42,916,442 | ||
TOTAL ASSETS | 706,319,888 | 699,415,150 | ||
EQUITY AND LIABILITIES | ||||
Equity | ||||
Stated Capital | 100,000,020 | 100,000,020 | ||
Revaluation Reserve | 320,920,574 | 320,920,574 | ||
Retained Earnings | 76,144,480 | 71,870,121 | ||
Total Equity | 497,065,074 | 492,790,714 | ||
Non-Current Liabilities | ||||
Retirement Benefit Obligation | 4,873,596 | 3,350,447 | ||
Interest Bearings Loans & Borrowings | 0 | 1,288,388 | ||
Deferred Tax Liability | 171,538,445 | 173,165,521 | ||
Total Non-Current Liabilities | 176,412,042 | 177,804,357 | ||
Current Liabilities | ||||
Trade & Other Payables | 27,447,267 | 24,460,794 | ||
Interest Bearings Loans & Borrowings | 946,715 | 2,323,256 | ||
Income Tax Payable | 3,248,154 | 717,877 | ||
Dividend Payable | 818,548 | 652,627 | ||
Bank Overdrafts | 382,088 | 665,524 | ||
Total Current Liabilities | 32,842,771 | 28,820,079 | ||
Total Liabilities | 209,254,813 | 206,624,435 | ||
TOTAL EQUITY & LIABILITIES | 706,319,888 | 699,415,150 | ||
(0.41) | ||||
Net assets per share | 24.85 | 24.64 |
+
I certify that the financial statements comply with the requirements of the Companies Act No. 7 of 2007.
Kasun Wickramage
Accountant
The Board of Directors is responsible for the preparation and presentation of these financial statements approved and signed for and on behalf of the Board.
J.A.D. Viraj Rasanga | I. J. A. Karunarathna |
Director | Director |
30/10/2024 |
RAMBODA FALLS PLC | ||||||
STATEMENT OF CHANGES IN EQUITY | ||||||
For the Six Months ended 30th September 2024 | Stated | Revaluation | Retained | Total | ||
Capital | Reserve | Earnings | Equity | |||
Rs. | Rs. | Rs. | Rs. | |||
As at 01st April, 2023 | 100,000,020 | 320,920,574 | 74,664,066 | 495,584,660 | ||
Total comprehensive income for the period | ||||||
Profit for the year | - | - | 16,649,219 | 16,649,219 | ||
Other comprehensive income | - | (426,159) | (426,159) | |||
Realization on Revalued assets diposal | - | - | ||||
Total comprehensive income for the period | - | - | 16,223,060 | 16,223,060 | ||
Transactions with owners - Contributions & | ||||||
Distributions | ||||||
Dividend Paid | - | - | - | - | ||
Total transactions with owners | - | - | - | - | ||
As at 31st March, 2024 | 100,000,020 | 320,920,574 | 90,887,126 | 511,807,720 | ||
As at 01 | st | April, 2024 | 100,000,020 | 320,920,574 | 90,887,126 | 511,807,720 |
Total comprehensive income for the period | ||||||
Profit for the period | - | - | (4,742,646) | (4,742,646) | ||
Other comprehensive income | - | - | - | - | ||
Total comprehensive income for the period | - | - | (4,742,646) | (4,742,646) | ||
Transactions with owners - Contributions & | ||||||
Distributions | ||||||
Dividend Paid | - | - | (10,000,000) | (10,000,000) | ||
Total transactions with owners | - | - | (10,000,000) | (10,000,000) | ||
As at 30th September 2024 | 100,000,020 | 320,920,574 | 76,144,480 | 497,065,074 | ||
Figures in brackets indicate deductions. |
RAMBODA FALLS PLC
STATEMENT OF CASH FLOW
For the Six Months ended 30th September | 2024 | 2023 | |||||
Rs. | Rs. | ||||||
Cash Flows from Operating Activities | |||||||
Profit before taxation | 409,892 | (2,393,504) | |||||
Adjustments for: | |||||||
Depreciation on property, Plant & Equipment | 11,065,754 | 10,674,677 | |||||
Amortisation of Intangible Asset | - | 23,064 | |||||
Finance Cost | - | 54,224 | |||||
Interest Income | (1,711,259) | (1,405,363) | |||||
Profit on Sales of Property Plant & Equipment | - | (233,333) | |||||
Unrealized Exchange Loss | 72,205 | ||||||
Operating Profit before Working Capital Changes | 9,836,592 | 6,719,763 | |||||
(Increase)/decrease in Inventories | 1,263,422 | 942,614 | |||||
(Increase)/decrease in Trade & other Receivables | 10,944,289 | 5,069,145 | |||||
Increase/(decrease) in Trade & other Creditors | (2,393,096) | 4,290,996 | |||||
Cash generated from/ (used in) operation | 19,651,207 | 17,022,518 | |||||
Less: | |||||||
Interest Paid | - | (54,224) | |||||
Income tax paid | (12,433,187) | (466,385) | |||||
Net cash generated from operating activities | 7,218,020 | 16,501,909 | |||||
Cash flows from/ (used in) investing activities | |||||||
Purchase and Construction of Property, Plant & Equipment | (5,468,855) | (17,507,242) | |||||
Sales of Property Plant & Equipment | - | 4,400,001 | |||||
Interest received | 1,319,453 | 1,405,363 | |||||
Investment In Fixed Deposit | (5,343,480) | ||||||
Net cash used in investing activities | (9,492,883) | (11,701,879) | |||||
Cash flows from financing activities | |||||||
Divident Paid | (9,834,080) | - | |||||
Repayment of Interest Bearing Borrowings | - | (1,600,200) | |||||
Principal Payment under Finance Lease Liabilities | (495,378) | (495,378) | |||||
Net cash flows (used in) from financing activities | (10,329,458) | (2,095,578) | |||||
Net Increase/(Decrease) in Cash & Cash Equivalents | (12,604,320) | 2,704,453 | |||||
Cash & Cash Equivalents at the Beginning of the Period | 44,698,687 | 28,856,423 | |||||
Cash & Cash Equivalents at the End of the Period | 32,094,367 | 31,560,876 | |||||
Analysis of cash and cash equivalents | |||||||
Cash at bank | 30,230,902 | 28,641,646 | |||||
Cash in hand | 2,245,553 | 3,584,754 | |||||
Bank Overdraft | (382,088) | (665,524) | |||||
32,094,367 | 31,560,876 | ||||||
Corporate Information
Name of the Company | Ramboda Falls PLC |
Status &Legal Form | A quoted Public Company with limited liability |
incorporated in Sri Lanka | |
Company Registration No. | PV/PB 8234 PQ |
VAT Registration No. | 114173339-7000 |
Registered Office | No.76, Rock Fall Estate, |
Nuwara-Eliya Road, | |
Ramboda, Sri Lanka. | |
Web:www.rambodafalls.com | |
Email: rambodafall@gmail.com | |
Board of Directors | Mr. K L Yeoh - Executive Chairman |
Mr. J A D Viraj Rasanga - Executive Director | |
Mr. I J A Karunarathna - Executive Director | |
Ms. Y S Lee | |
Mr. V. N. D. Wickramasinghe | |
Mr. D. D. Sunil | |
Mr. W. G. Dhanapala | |
Secretaries & Registrars | SSP Corporate Services (Pvt) Limited, |
No. 101, Inner Flower Road, | |
Colombo 03. | |
External Auditor | KPMG, Chartered Accountants, |
32A, Sir Mahamed Macan Markar Mawatha, | |
P O Box 186, Colombo 03. | |
Internal Auditor | Wannigama Associates |
Chartered Accountants | |
No. 41/25/111, Sampathpura, Watareka, | |
Meegoda. | |
Bankers | Hatton National Bank PLC |
Sampath Bank PLC | |
PEOPLE'S BANK | |
Share Holders Information
Share Price Movements during the period
Price Rs. | |
High | 29.50 |
Lowest | 24.40 |
Closing | 27.50 |
20 Major shareholders of the Company as at 30th September 2024
No | Name of the Shareholder | No. of Shares | Shareholding (%) |
1 | Mr. K L Yeoh | 12,938,371.00 | 64.69 |
2 | Mr. I J A Karunarathna | 1,880,700.00 | 9.4 |
3 | Mr. P D Panagoda | 1,382,675.00 | 6.91 |
4 | Mr. L S Sigera | 751,427.00 | 3.76 |
5 | Mrs. L D H Sigera | 751,425.00 | 3.76 |
6 | Ms. L D N Sigera | 751,425.00 | 3.76 |
7 | Mr. P T Karunarathne | 299,824.00 | 1.5 |
8 | Ms. S H Karunarathne | 293,753.00 | 1.47 |
9 | Mrs.H P Gin | 190,130.00 | 0.95 |
10 | Mr.T Igarashi | 100,000.00 | 0.5 |
11 | Mr. U D M Fernando | 48,957.00 | 0.24 |
12 | Mr. R T S Fernando | 36,394.00 | 0.18 |
13 | Ms. R M I P Ranasinghe | 30,692.00 | 0.15 |
14 | Mr. G C Goonetileke | 30,500.00 | 0.15 |
15 | Mr. N A Withana | 26,200.00 | 0.13 |
16 | Mr. P N C Gomes | 25,000.00 | 0.13 |
17 | Mr. S Ishizuka | 24,679.00 | 0.12 |
18 | Mrs. S C R Thambimuttu | 20,827.00 | 0.1 |
19 | Mr. P Sarathchandra | 20,000.00 | 0.1 |
20 | Mr.V N D Wickramasinghe | 20,000.00 | 0.1 |
19,622,979.00 | 98.19 | ||
Others | 377,021.00 | 1.81 | |
Total | 20,000,000.00 | 100 |
Share Holding as at 30th September 2024
Public Holding % | 25.80% |
Directors shareholding | 74.20% |
Holding of 5% or More | 0.00% |
Total | 100.00% |
Float adjusted market capitalization | Rs. 144,898,075.00 |
Total No. of Shareholders representing the public Holding | 622 |
The float adjusted market capitalization as at 30th September 2024 is Rs. 145 million and minimum public holding requirement is compliant with option-2 as per Sec 7.13.1 (b) of the Listing Rule of CSE.
Directors Shareholding as at 30th September 2024
Name of the Director | No. of Shares | Shareholding (%) |
Mr. K L Yeoh | 12,938,371.00 | 64.69 |
Mr. I J A Karunarathna | 1,880,700.00 | 9.4 |
Mr. J A D Viraj Rasanga | - | 0 |
Ms. Y S Lee | - | 0 |
Mr.V N D Wickramasinghe | 20,000.00 | 0.1 |
Mr. D D Sunil | 999.00 | 0 |
Mr.W G Dhanapala | - | 0 |
Total | 14,840,070.00 | 74.19 |
RAMBODA FALLS PLC
NOTES TO THE FINANCIAL STATEMENTS
01. Reporting Entity
Ramboda Falls PLC, ("the Company") is a Company domiciled in Sri Lanka. The shares of the Company have a primary listing on the Colombo Stock Exchange.
The address of the registered office and the principal place of the business is situated No. 76, Rock Fall Estate, Nuwaraeliya Road, Ramboda.
The Principle activity of the Company is hoteliering and leisure related activities.
02. Basis of Preparation
The interim financial statements of the Company have been prepared in accordance with the same accounting policies and methods of computations as in the most recent audited financial statements and are in compliance with the Sri Lanka Accounting Standard (LKAS- 34) Interim Financial Reporting.
03. Stated Capital
The Number of Shares representing the Stated Capital 20,000,000 Ordinary Shares.
04. Seasonality or Cyclicality of Operation
There was no Seasonality / Cyclicality impact on the operations of the company which need to be disclosed.
05. Segment Information
There was no Segment information in accordance with the SLFRS 8 (Operating Segments) Standard.
06. Events Occurring After the End of the Reporting Period
To the date of financial position, no circumstances have arisen which would require adjustment to or disclosure in the financial statements.
07. Capital Commitments and Contingencies
There have been no Contingent Liabilities and Capital Commitments outstanding as at the end of the reporting period.
www.rambodafalls.com