Quarterly Financial Statements as of 31 December 2024

Unaudited

Audited

31.12.2024

31.03.2024

ASSETS

Rs.

Rs.

Non-current assets

Property, plant and equipment

4,987,281,250

4,729,906,298

Right of use asset

25,286,442

27,979,001

Intangible assets

181,139,889

181,139,889

Deferred tax assets

637,267,896

637,666,147

Current assets

5,830,975,477

5,576,691,334

Inventories

87,028,237

99,957,263

Trade and other receivables

507,516,492

518,461,951

Income tax recoverable

61,143

830,766

Cash and cash equivalents

48,167,953

26,214,357

Total Assets

642,773,825

645,464,337

6,473,749,302

6,222,155,671

EQUITY AND LIABILITIES

Equity

Stated capital

967,483,261

967,483,260

Other components of equity

6,949,461

6,949,461

Retained earnings

1,535,310,946

1,371,205,904

Equity attributable to equity holders of the parent

2,509,743,668

2,345,638,625

Non-controlling interest

-

-

Total Equity

2,509,743,668

2,345,638,625

Non-current liabilities

Interest bearing loans and borrowings

2,332,826,075

2,252,856,849

Lease liability

22,445,317

24,871,746

Retirement benefit obligations

38,128,268

37,783,649

Deferred tax liabilities

212,632,515

213,273,958

2,606,032,174

2,528,786,202

Current liabilities

Trade and other payables

232,066,854

109,428,420

Lease liability

5,088,270

4,986,270

Income tax liabilities

35,349,701

29,510,018

Interest bearing loans and borrowings

769,346,016

955,314,681

Bank overdrafts

316,122,619

248,491,455

Total Equity and Liabilities

1,357,973,461

1,347,730,844

6,473,749,302

6,222,155,671

Net assets per share

29.12

27.22

……………………………………

……………………………….

H.A.S. Madanayaka

G.A.K. Nanayakkara

Chairman

Managing Director

06 February 2025

Unaudited

Audited

31.12.2024

31.03.2024

ASSETS

Rs.

Rs.

Non-current assets

Property, plant and equipment

1,198,375,588

1,224,669,441

Right of use asset

3,501,743

5,453,218

Investments in subsidiaries

1,231,643,125

1,231,644,125

Intangible Assets

125,407,510

125,407,510

Current assets

2,558,927,966

2,587,174,294

Inventories

11,653,081

14,581,724

Trade and other receivables

484,760,469

305,578,724

Income tax recoverable

61,025

830,691

Cash and cash equivalents

35,579,641

23,966,215

532,054,216

344,957,353

Total Assets

3,090,982,182

2,932,131,647

EQUITY AND LIABILITIES

Equity

Stated capital

967,483,260

967,483,260

Other components of equity

5,194,210

5,194,210

Retained earnings

297,999,759

238,845,815

Equity attributable to equity holders of the parent

1,270,677,229

1,211,523,285

Non-controlling interest

-

-

Total Equity

1,270,677,229

1,211,523,285

Non-current liabilities

Interest bearing loans and borrowings

589,732,461

633,220,480

Lease liability

525,766

437,066

Retirement benefit obligations

36,016,859

36,193,650

Deferred tax liabilities

84,382,755

84,382,755

710,657,841

754,233,950

Current liabilities

Trade and other payables

525,308,535

445,364,127

Lease liability

111,270

111,270

Income tax liabilities

11,417,785

18,175,517

Interest bearing loans and borrowings

350,771,679

318,911,013

Bank overdrafts

222,037,843

183,812,486

1,109,647,112

966,374,413

Total Equity and Liabilities

3,090,982,182

2,932,131,647

Net assets per share

14.74

14.06

……………………………………

……………………………….

H.A.S. Madanayaka

G.A.K. Nanayakkara

Chairman

Managing Director

06 February 2025

Attributable to equity holders of the parent

Other components of equity

Stated

Revaluation

Retained

Total

Non-controlling

Total

capital

reserve

earnings

interest

equity

Period ended at 31st December 2024

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Balance as at 1st April 2024

967,483,260

6,949,461

1,371,205,904

2,345,638,625

-

2,345,638,625

Profit for the period

-

-

250,289,868

250,289,868

-

250,289,868

Other comprehensive income

-

-

-

-

-

-

Total comprehensive income for the period

250,289,868

-

-

250,289,868

-

250,289,868

Transactions with equity holders

Cash Dividend paid - interim 2024/25

-

-

(86,184,827)

(86,184,827)

(86,184,827)

Balance as at 31st December 2024

967,483,260

6,949,461

1,535,310,946

2,509,743,667

-

2,509,743,667

Attributable to equity holders of the parent

Other components of equity

Stated

Revaluation

Retained

Total

Non-controlling

Total

capital

reserve

earnings

interest

equity

Year ended 31st March 2024

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Balance as at 1st April 2023

967,483,260

6,949,461

1,106,708,051

2,081,140,772

-

2,081,140,772

Profit for the period

-

-

373,882,505

373,882,505

-

373,882,505

Other comprehensive income

-

-

(1,653,618)

(1,653,618)

-

(1,653,618)

Total comprehensive income for the period

1,478,936,938

967,483,260

6,949,461

2,453,369,659

-

2,453,369,659

Transactions with equity holders

Cash Dividend paid - interim 2023/24

-

-

(107,731,034)

(107,731,034)

-

(107,731,034)

Balance as at 31st March 2024

1,371,205,904

967,483,260

6,949,461

2,345,638,625

-

2,345,638,625

Attributable to equity holders of the parent

Other components of equity

Stated

Revaluation

Retained

Total

capital

reserve

earnings

equity

Period ended at 31st December 2024

Rs.

Rs.

Rs.

Rs.

Balance as at 1st April 2024

967,483,260

5,194,210

238,845,815

1,211,523,285

Profit for the period

-

-

145,338,771

145,338,771

Other comprehensive income

-

-

-

-

Total comprehensive income for the period

-

-

145,338,771

145,338,771

Transactions with equity holders

Cash Dividend paid - interim 2024/25

-

-

(86,184,827)

(86,184,827)

Balance as at 31st December 2024

967,483,260

5,194,210

297,999,759

1,270,677,229

Attributable to equity holders of the parent

Other components of equity

Stated

Revaluation

Retained

Total

capital

reserve

earnings

equity

Year ended 31st March 2024

Rs.

Rs.

Rs.

Rs.

Balance as at 1st April 2023

967,483,260

5,194,210

178,122,183

1,150,799,653

Profit for the period

-

-

170,017,162

170,017,162

Other comprehensive income

-

-

(1,562,496)

(1,562,496)

Total comprehensive income for the period

967,483,260

5,194,210

346,576,849

1,319,254,319

Transactions with equity holders

Cash Dividend paid - interim 2023/24

-

-

(107,731,034)

(107,731,034)

Balance as at 31st March 2024

967,483,260

5,194,210

238,845,815

1,211,523,285

For the 09Months Ended 31 December

2024

2023

Rs.

Rs.

Cash generated from/(used in) operating activities

Profit/(loss) before tax

308,401,774

147,769,162

Adjustments for;

Depreciation

92,708,350

85,358,746

Depreciation of Right of use Assets

2,692,559

2,603,306

Provision for Defined Benefit Plan

3,054,511

2,095,018

Finance Cost

291,143,918

389,535,445

Finance charges on lease liability

2,247,223

2,388,188

Finance Income

(4,067,518)

(10,920,390)

Operating profit before working capital changes

696,180,818

618,829,473

Decrease / ( increase ) in inventories

12,929,026

(30,102,321)

Decrease / ( increase ) in trade and other receivable

11,715,082

437,130,788

(Decrease) / Increase in trade and other payables

77,795,870

76,598,969

Cash generated from/(used in) operating activities

798,620,797

1,102,456,909

Finance cost paid

(291,371,546)

(255,207,363)

Gratuity paid

(2,709,896)

(259,293)

Tax paid

(37,060,390)

(2,232,450)

Net cash generated from/(used in) operating activities

467,478,965

844,757,803

Cash flows from/(used in) investing activities

(Acquisition) / Reversals of property, plant and equipment

(350,083,303)

(168,613,443)

Finance income received

4,067,518

10,920,390

Net cash used in investing activities

(346,015,785)

(157,693,053)

Cash flows from/(used in) financing activities

Repayment of Lease rental

(4,571,652)

(5,624,401)

Proceeds from interest bearing loans and borrowings

200,000,000

-

Repayments of interest bearing loans and borrowings

(305,999,439)

(367,299,000)

Dividend Paid

(56,569,657)

(35,143,971)

Tax on dividends paid by subsidiaries

-

-

Net cash (used in)/generated from financing activities

(167,140,748)

(408,067,372)

Net decrease in cash and cash equivalents

(45,677,568)

278,997,378

Cash and cash equivalents at the beginning of the period

(222,277,098)

(350,800,019)

Cash and Cash equivalents at the end of the period

(267,954,666)

(71,802,641)

Analysis of cash and cash equivalents;

Cash and cash equivalents

48,167,953

171,738,667

Bank overdrafts

(316,122,619)

(243,543,708)

Cash and cash equivalents at the end of the period for the purpose of statement of cash Flow

(267,954,666)

(71,805,041)

For the 09Months Ended 31 December

2024

2023

Rs.

Rs.

Cash generated from/(used in) operating activities

Profit/(loss) before tax

163,552,183

166,163,533

Adjustments for;

Depreciation

27,723,631

28,579,324

Depreciation of Right of use Asset

1,951,475

1,952,867

Provision for Defined Benefit Plan

2,533,105

2,095,018

Finance Cost

131,070,666

169,275,260

Finance charges on lease liability

44,721

391,298

Dividend Income from Subsidiaries

(86,184,827)

(108,430,465)

Finance Income

(4,052,397)

(10,917,640)

Operating profit before working capital changes

236,638,557

249,109,195

Decrease / ( increase ) in inventories

2,928,643

(2,395,000)

Decrease / ( increase ) in trade and other receivable

(122,612,088)

243,707,151

Increase/(decrease) in trade and other payables

79,944,408

186,993,262

Cash generated from/(used in) operating activities

196,899,520

677,414,608

Finance cost paid

(131,262,939)

(169,275,260)

Income tax paid

(24,201,478)

-

Gratuity paid

(2,709,896)

(259,293)

Net cash generated from/(used in) operating activities

38,725,207

507,880,055

Cash flows from/(used in) investing activities

Acquisition of property, plant and equipment

(1,429,769)

(995,333)

Finance income received

4,052,397

10,917,640

Net cash used in investing activities

2,622,628

9,922,307

Cash flows from/(used in) financing activities

Proceeds from interest bearing loans and borrowings

50,000,000

-

Lease rental (paid)/Over paid reversal

43,979

(3,176,048)

Repayments of interest bearing loans and borrowings

(61,434,088)

(255,134,444)

Dividends Paid - Ordinary Shares

(56,569,657)

(35,143,971)

Net cash (used in)/generated from financing activities

(67,959,766)

(293,454,463)

Net decrease in cash and cash equivalents

(26,611,930)

224,347,899

Cash and cash equivalents at the beginning of the period

(159,846,271)

(239,203,503)

Cash and Cash equivalents at the end of the period

(186,458,202)

(14,855,604)

Analysis of cash and cash equivalents;

Cash and cash equivalents

35,579,641

164,119,927

Bank overdrafts

(222,037,843)

(178,975,531)

Cash and cash equivalents at the end of the period for the purpose of statement of cash Flow

(186,458,202)

(14,855,604)

For the 09 Months ended 31st December 2024

Hydro Power

Solar Power

Other

Eliminations/ Adjustments

Group Total

2024

2023

2024

2023

2024

2023

2024

2023

2024

2023

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Rs.

Revenue from contracts with customers

500,369,759

591,764,480

189,992,002

155,483,986

26,350,122

-

-

-

716,711,884

747,248,466

Billing Under the Standard Power purchase Agreement

135,629,256

-

35,698,256

-

-

-

-

-

171,327,512

-

Direct costs

(137,722,758)

(122,203,756)

(46,975,585)

(38,190,767)

(23,452,579)

-

-

-

(208,150,923)

(160,394,524)

Gross profit

498,276,256

469,560,724

178,714,674

117,293,218

2,897,543

-

-

679,888,473

586,853,942

Other operating income

1,534,392

-

-

-

-

-

-

-

1,534,392

-

Administrative expenses

(58,945,758)

(44,182,259)

(24,376,594)

(13,931,805)

(375,115)

-

-

-

(83,697,467)

(58,114,064)

Results from operating activities

440,864,890

425,378,465

154,338,080

103,361,413

2,522,428

-

-

-

597,725,398

528,739,878

Finance income

2,961,462

8,649,804

1,106,056

2,270,586

-

-

-

-

4,067,518

10,920,390

Finance cost

(190,060,560)

(291,132,648)

(103,330,582)

(100,790,984)

-

-

-

-

(293,391,142)

(391,923,632)

Profit/(loss) before tax

253,765,792

142,895,621

52,113,553

4,841,015

2,522,428

-

-

-

308,401,774

147,736,636

Tax (expense)/Reversal

(58,111,906)

-

-

-

-

-

-

-

(58,111,906)

-

Profit/(loss) for the period

195,653,886

142,895,621

52,113,553

4,841,015

2,522,428

-

-

-

250,289,868

147,736,636

Assets & Liabilities

Total Current Assets

1,255,852,593

1,232,642,915

213,721,408

257,532,007

68,748,618

7,304,913

(895,548,794)

(536,280,384)

642,773,825

961,199,451

Total Non Current Assets

4,424,326,197

4,181,495,589

2,588,842,893

1,945,462,291

163,200

(1,182,356,814)

(1,010,482,257)

5,830,975,476

5,116,475,623

Total Assets

5,680,178,790

5,414,138,504

2,802,564,301

2,202,994,298

68,911,818

7,304,913

(2,077,905,608)

(1,546,762,641)

6,473,749,301

6,077,675,074

Total Current Liabilities

1,502,099,276

1,324,248,058

692,220,478

505,517,018

59,202,501

2,900,000

(895,548,794)

(536,280,384)

1,357,973,461

1,296,384,692

Total Non Current Liabilities

1,772,835,057

1,818,446,114

833,197,117

860,832,682

-

-

-

-

2,606,032,174

2,679,278,796

Total Liabilities

3,274,934,332

3,142,694,172

1,525,417,596

1,366,349,700

59,202,501

2,900,000

(895,548,794)

(536,280,384)

3,964,005,635

3,975,663,488