For the Twelve Months Ended |
31st March - 2025 |
53 - 1/1, Sir Baron Jayatilaka Mawatha, |
Colombo - 1 |
SIGIRIYA VILLAGE HOTELS PLC SIGIRIYA VILLAGE STATEMENT OF COMPREHENSIVE INCOME | ||||||
For the Quarter | For Twelve Months | |||||
ended 31st March | ended 31st March | |||||
2025 | 2024 | Change | 2025 | 2024 | Change | |
Unaudited | Unaudited | Unaudited | Audited | |||
Rs.'000 | Rs.'000 | % | Rs.'000 | Rs.'000 | % | |
Revenue | 176,266 | 131,349 | 34 | 522,228 | 302,857 | 72 |
Cost of Sales | (50,001) | (44,048) | (14) | (179,379) | (116,966) | (53) |
Gross Profit | 126,265 | 87,301 | 45 | 342,849 | 185,891 | 84 |
Other Operating Income | 7,198 | 14,032 | (49) | 15,340 | 41,607 | (63) |
Administrative & Operating Expenses | (67,847) | (58,855) | (15) | (257,115) | (215,030) | (20) |
Promotional & Marketing Expenses | (1,596) | (8,967) | 82 | (4,182) | (11,871) | 65 |
Profit from Operating Activities | 64,020 | 33,511 | 91 | 96,892 | 598 | 16,111 |
Finance Cost | (30,529) | (2,615) | (1,068) | (55,000) | (47,922) | (15) |
Profit from Operating Activities after Finance Cost | 33,491 | 30,896 | 8 | 41,892 | (47,324) | 189 |
Share of Profit/(Loss) of Equity Accounted Investee | 2,361 | 4,189 | (44) | 2,361 | 4,189 | (44) |
Profit /(Loss) before Taxation | 35,852 | 35,085 | 2 | 44,253 | (43,135) | 203 |
Taxation | (13,098) | 16,729 | (178) | (13,098) | 16,729 | (178) |
Net Profit /(Loss) for the Period | 22,754 | 51,814 | (56) | 31,154 | (26,406) | 218 |
Other Comprehensive Income Actuarial Gain /( Loss ) on defined benefit plans | (624) | (10,066) | (624) | (10,066) | ||
Gain / (Loss) on Available for Sale - Financial Assets | 2,089 | (35,189) | - | 280,416 | 21,103 | - |
Deferred Tax on Acturial Gain | 187 | 3,020 | 187 | 3,020 | ||
Total Comprehensive Income for the Period | 24,406 | 9,580 | 155 | 311,134 | (12,349) | 2,620 |
Earnings Per Share | 2.53 | 5.76 | 3.46 | (2.93) | ||
SIGIRIYA VILLAGE HOTELS PLC SIGIRIYA VILLAGE STATEMENT OF FINANCIAL POSITION | |||
As at 31st March | 2025 | 2024 | |
Unaudited | Audited | ||
Rs.'000 | Rs.'000 | ||
ASSETS | |||
NON CURRENT ASSETS | |||
Property Plant & Equipment | 426,256 | 353,875 | |
Right of Use Asset | 18,045 | 19,296 | |
Investments Properties | 24,407 | 24,407 | |
Investments In Associate | 86,791 | 84,430 | |
Financial Assets | 129,769 | 176,636 | |
Deferred Tax Asset | - | 7,873 | |
685,268 | 666,517 | ||
CURRENT ASSETS | |||
Inventories | 14,302 | 11,521 | |
Trade Debtors & Other receivables | 64,865 | 30,078 | |
Amounts Owed by Related Companies | 217,380 | 233,763 | |
Income tax receivable | 5,919 | - | |
Short Term Investment | 193,976 | - | |
Cash & Cash Equivalents | 9,960 | 8,673 | |
506,403 | 284,035 | ||
Total Assets | 1,191,670 | 950,551 | |
EQUITY & LIABILITIES | |||
CAPITAL & RESERVES | |||
Stated Capital | 363,722 | 363,722 | |
Revenue Reserves | 38,536 | 38,536 | |
Fair Value Gain on Available for Sale Financial Assets | 72,962 | 38,827 | |
Retained Earnings | 251,588 | (25,410) | |
726,808 | 415,675 | ||
NON CURRENT LIABILITIES | |||
Interest Bearing Borrowings | 112,258 | 196,312 | |
Retirement Benefit Obligations | 21,594 | 26,568 | |
Lease Liability | 25,756 | 17,393 | |
Deferred Taxation | 5,038 | - | |
164,646 | 240,274 | ||
CURRENT LIABILITIES | |||
Trade Creditors & Other Payables | 157,457 | 154,340 | |
Lease Liability | 161 | 161 | |
Amounts Owed to Related Companies | 13,687 | 11,656 | |
Taxation | - | 9,071 | |
Interest Bearing Borrowings | 32,380 | 31,268 | |
Bank Overdrafts | 96,532 | 88,107 | |
300,216 | 294,603 | ||
Total Equity & Liabilities | 1,191,670 | 950,551 | |
Net Assets Per Share | 80.76 | 46.19 | |
For and on behalf of the Board ,
Sgd. Sgd.
Director Director
Amrit Rajaratnam Anushman Rajaratnam
Colombo
16th May 2025
SIGIRIYA VILLAGE HOTELS PLC SIGIRIYA VILLAGE STATEMENT OF CHANGES IN EQUITY | |||||
Stated Capital | Fair Value Gain on Available For Sale Financial Assets | Revaluation Reserves | Retained Earnings | Total | |
Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | |
Balance as at 01.04.2023 | 363,722 | 17,723 | 38,536 | 8,042 | 428,023 |
Profit for the Period | - | - | (26,406) | (26,406) | |
Other comprehensive Income for the year | - | 21,103 | - | (10,066) | 11,038 |
Tax Impact on Acturial Loss / (Gain) on Retirement | - | - | - | 3,020 | 3,020 |
Benefit Obligation | |||||
Balance as at 31.03.2024 | 363,722 | 38,827 | 38,536 | (25,410) | 415,675 |
Balance as at 01.04.2024 | 363,722 | 38,827 | 38,536 | (25,410) | 415,675 |
Profit for the Period | - | - | - | 31,154 | 31,154 |
Other comprehensive Income/(Expense) | - | 280,416 | - | (624) | 279,792 |
Re-Classification of fair value reserve on disposal of share | (246,280) | - | 246,280 | - | |
Tax Impact on Acturial Loss / (Gain) on Retirement | - | - | - | 187 | 187 |
Benefit Obligation | |||||
Balance as at 31.03.2025 | 363,722 | 72,962 | 38,536 | 251,588 | 726,808 |
SIGIRIYA VILLAGE HOTELS PLC | ||
SIGIRIYA VILLAGE | ||
STATEMENT OF CASH FLOWS | ||
For the period ended 31st March | 2025 | 2024 |
Unaudited | Audited | |
Rs.'000 | Rs.'000 | |
Net Profit/(Loss) before Taxation | 44,253 | (43,135) |
Adjustment for Non-Cash Items | ||
Depreciation | 13,523 | 16,791 |
Amortization | 1,252 | 1,252 |
Interest Expenses | 54,023 | 48,540 |
other income | - | (10,000) |
Share of Associate Company's Profit | (2,361) | (4,189) |
Provision for Gratuity | 3,981 | 1,947 |
Operating Profit/(Loss) Before Working Capital Changes | 114,672 | 11,205 |
(Increase)/Decrease in Inventories | (2,781) | 733 |
(Increase)/Decrease in Debtors & Receivables | (34,787) | (14,043) |
(Increase)/Decrease in Related Party Balances | 18,414 | 19,608 |
Increase /(Decrease) in Creditors & Accruals | 3,116 | 31,300 |
(16,037) | 37,599 | |
Cash Generated from Operations | 98,634 | 48,804 |
Interest Paid | (18,127) | (10,589) |
Taxes Paid | (14,990) | (3,225) |
Gratuity Paid | (405) | (757) |
Net Cash Flow From / (Used in) Operating Activities | 65,110 | 34,233 |
Cash Flows From / (Used in) Investing Activities | ||
Acquisition of Property Plant & Equipment | (11,733) | (1,314) |
Transfer of WIP | (74,172) | - |
Investment In Financial Assets | 323,616 | - |
Investment on Term Deposit | (193,976) | |
Proceeds from Disposal of Property, Plant & Equipment | - | 10,000 |
Net Cash Flows From / (Used in) Investing Activities | 43,736 | 8,686 |
Cash Flows From / (Used in) Financing Activities | ||
Repayment of Loans and Leases | (3,857) | (18,068) |
Capitalization/Repayment for Interest Bearing Borrowings | (112,128) | - |
Net Cash Flows From / (Used in) Financing Activities | (115,985) | (18,068) |
Net Change in Cash & Cash Equivalents during the year | (7,137) | 24,851 |
Cash & Cash Equivalents at the beginning of the year | (79,434) | (104,286) |
Cash & Cash Equivalents at the end of the year | (86,571) | (79,434) |
Analysis of Cash & Cash Equivalents at the end of the Period | ||
Cash in Hand | 9,960 | 8,673 |
Bank Overdraft | (96,532) | (88,107) |
(86,571) | (79,434) | |
SIGIRIYA VILLAGE HOTELS PLC |
SIGIRIYA VILLAGE |
NOTES TO THE ACCOUNTS |
Account Status |
The Financial Statements of the company for the interim period have been prepared on the same accounting policies and methods of computations as in the most recent audited financial statements and are in compliance with LKAS 34 - Interim Financial Reporting. |
The Interim Financial Statements are provisional and subject to audit. |
The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. The presentation and classification of the financial statements of the previous year have been amended where relevant to be comparable with those of the current period.
- Market Price for the quarter ended
Highest |
Lowest |
Last Traded Price |
31.03.2025 |
Rs. |
97.50 |
75.60 |
89.00 |
31.03.2024 |
Rs. |
53.00 |
45.00 |
47.40 |
Events subsequent to the Interim Period |
There have been no material events subsequent to the interim period which require disclosure in the Interim Financial Statements. |
Changes in Classification |
To facilitate comparison and where relevant balances pertaining to the previous comparative period have been reclassified |
Stated Capital |
The Stated Capital of the Company is Rs. 363,722,215/- represented by 9,000,000 Ordinary shares. |
Public Holding |
The applicable option under CSE Rule 7.13.1 (i)(a) on minimum public holding is option 5 and the Float Adjusted Market Capitalization as of 31.03.2025 was Rs. 267,854,400.00 |
Public Holding as at 31.03.2025 was 33.82% |
Public Shareholders |
The number of Public Shareholders as at 31st March 2025 were 1,134. |
Shareholdings of Directors |
Directors' direct shareholdings as at 31 st March 2025. |
Name of Director | No. of Shares |
Mr. Amrit Rajaratnam | 23,000 |
Contingent Liabilities |
There has not been a significant change in the nature of the Contingent Liabilities which were disclosed in the Annual Report for the period ended 31st March 2025. |
Management Fees |
There were no liabilities for management fees or any other similar expenditure not provided for in the Interim Financial Statements. |
Associate Companies |
Investment in Associate Companies accounted in the Interim Financial Statement is based on "Equity Method". |
SIGIRIYA VILLAGE HOTELS PLC |
TWENTY MAJOR SHAREHOLDERS AS AT 31ST MARCH 2025 |
MAJOR SHAREHOLDERS | NO OF SHARES | % | |
1 | COLOMBO FORT HOTELS LIMITED | 4,590,274 | 51.00% |
2 | ACUITY PARTNERS (PVT) LIMITED/UNION INVESTMENTS (PVT) LIMITED | 1,194,518 | 13.27% |
3 | PEOPLE S LEASING AND FINANCE PLC/SUHADA GAS DISTRIBUTORS (PVT) LTD | 1,086,479 | 12.07% |
4 | ASSETLINE FINANCE LIMITED/SUHADA GAS DISTRIBUTORS (PVT) LTD | 222,016 | 2.47% |
5 | MR. NAWALAGE JOSEPH HIRAN MAHINDA COORAY | 102,175 | 1.14% |
6 | MISS NAWALAGE THERESE MANOURI SHIROMAL COORAY | 102,062 | 1.13% |
7 | DIALOG FINANCE PLC/FORS INVESTMENT (PRIVATE) LIMITED | 100,400 | 1.12% |
8 | PEOPLE'S LEASING & FINANCE PLC/MR. K.K.SHUJEEVAN | 94,975 | 1.06% |
9 | NEGOMBO HOTELS LIMITED | 91,370 | 1.02% |
10 | BLUE OCEANIC BEACH HOTEL (PVT) LTD | 81,603 | 0.91% |
11 | E.B. CREASY CEYLON (PRIVATE) LIMITED | 62,162 | 0.69% |
12 | MERCHANT BANK OF SRI LANKA & FINANCE PLC/G.K.G.L WIJAYATHILAKE | 59,999 | 0.67% |
13 | COMMERCIAL BANK OF CEYLON PLC/D.J.N.HETTIARACHCHI | 56,072 | 0.62% |
14 | SEYLAN BANK PLC/A.C.SENANKA | 53,758 | 0.60% |
15 | MRS. ALALIYAKANKANAMLAGE MARY JOSEPHINE COORAY | 49,658 | 0.55% |
16 | COLOMBO INVESTMENT TRUST PLC | 44,550 | 0.50% |
17 | CORPORATE HOLDINGS (PRIVATE)LIMITED A/C NO.01 | 43,400 | 0.48% |
18 | EST.OF.LAT LIYANAGE SALIYA IGNATIOUS PERERA (DECEASED) | 42,037 | 0.47% |
19 | FINANCIAL TRUST LIMITED | 36,000 | 0.40% |
20 | MR. SEMASINGHE NAWARATNA CHANDRASEKARA WANNINAYAKA MUDIYANSELAGE BANDARA CHANDRASEKARA KANDEGEDARA | 34,067 | 0.38% |
TOTAL | 8,147,575 | 90.53% |