Interim Financial Statements - 4th Quarter |
(For the twelve months ended 31st March 2026) |
Tangerine Beach Hotels PLC | ||
STATEMENT OF FINANCIAL POSITION | ||
As At 31st March 2026 | ||
31.03.2026 | 31.03.2025 | |
Rs.'000' | Rs.'000' | |
ASSETS | ||
Non-Current Assets | ||
Property, Plant & Equipment | 2,988,947 | 2,916,393 |
Intangible Assets | 2,370 | 501 |
Investment in Associate Company | 880,975 | 836,363 |
Right of use assets | 1,111 | 1,970 |
3,873,403 | 3,755,227 | |
Current Assets | ||
Inventories | 47,544 | 34,736 |
Trade and Other Receivables | 106,012 | 165,762 |
Income Tax Receivable | 5,295 | 4,840 |
Other Non Financial Assets | 34,203 | 29,949 |
Amounts Due from Related Parties-Other Financial Assets | 180 | 173 |
Short-term Investments-Other Financial Assets | 215,604 | 133,139 |
Cash and Cash Balances | 304,357 | 298,970 |
713,195 | 667,569 | |
Total Assets | 4,586,598 | 4,422,796 |
EQUITY AND LIABILITIES | ||
Capital and Reserves | ||
Stated Capital | 244,800 | 244,800 |
Revaluation Reserve | 2,093,583 | 2,085,467 |
Fair Value Reserve | 618 | 618 |
Retained Earnings | 1,217,577 | 1,020,055 |
Total Equity | 3,556,578 | 3,350,940 |
Non-Current Liabilities | ||
Interest Bearing Loans and Borrowings | - | 10,000 |
Deferred Tax Liabilities | 760,099 | 769,352 |
Post Employee Benefit Liability | 50,672 | 42,150 |
Lease Liability | 657 | 1,688 |
811,428 | 823,190 | |
Current Liabilities | ||
Trade and Other Payables | 137,408 | 134,846 |
Amounts Due to Related Parties | 10,150 | 11,035 |
Lease Liabilities | 1,181 | 1,024 |
Interest Bearing Loans and Borrowings | 69,853 | 101,761 |
218,592 | 248,666 | |
Total Equity and Liabilities | 4,586,598 | 4,422,796 |
Net Assets per Share ( Rs. ) | 177.83 | 167.55 |
The above figures are provisional and subject to audit. | ||
It is certified that the financial statements have been prepared in compliance with requirements of Companies Act No : 07of 2007 | ||
M.I Shahabdeen | ||
Chief Financial Officer | ||
A.M.Ondaatjie | T.J Ondaatjie | |
Chairperson | Director | |
May 22, 2026 | ||
Year ended 31st March | Three months ended 31st March | |||||
2026 | 2025 | Change | 2026 | 2025 | Change | |
Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | Rs. '000' | |
1,147,905 | 1,058,426 | 89,479 | 419,768 | 432,766 | (12,998) | |
(355,087) | (350,150) | (4,937) | (106,550) | (112,153) | 5,603 | |
792,818 | 708,276 | 84,542 | 313,218 | 320,613 | (7,395) | |
33,215 | 2,860 | 30,355 | 6,848 | 17,700 | (10,852) | |
(30,891) | (26,039) | (4,852) | (14,122) | (10,262) | (3,860) | |
(645,982) | (627,457) | (18,525) | (180,293) | (157,527) | (22,766) | |
(4,505) | (4,181) | (324) | (4,505) | 568 | (5,073) | |
(933) | (1,106) | 173 | (260) | (323) | 63 | |
13,665 | 9,228 | 4,437 | 4,002 | 2,807 | 1,195 | |
(2,381) | (2,772) | 391 | (474) | (800) | 326 | |
43,539 | 4,561 | 38,978 | 28,470 | 38,865 | (10,395) | |
198,545 | 63,370 | 135,175 | 152,884 | 211,641 | (58,757) | |
2,316 | 2,954 | (638) | 7,070 | (4,867) | 11,937 | |
200,861 | 66,324 | 134,537 | 159,954 | 206,774 | (46,820) | |
- | - | - | - | - | - | |
(3,231) | (4,592) | 1,361 | (3,231) | (4,592) | 1,361 | |
969 | 1,378 | (409) | 969 | 1,378 | (409) | |
- | 326,543 | (326,543) | - | 326,543 | (326,543) | |
5,968 | (88,858) | 94,826 | 2,093 | (96,992) | 99,085 | |
3,706 | 234,471 | (230,765) | (169) | 226,337 | (226,506) | |
(1,538) | (589) | (949) | (1,538) | (589) | (949) | |
461 | 177 | 284 | 461 | 177 | 284 | |
- | - | - | - | |||
- | 95,623 | (95,623) | - | 96,475 | (96,475) | |
2,148 | (26,599) | 28,747 | 488 | (28,401) | 28,889 | |
773 | (773) | - | - | |||
(232) | 232 | - | - | - | ||
1,071 | 69,153 | (68,082) | (589) | 67,662 | (68,251) | |
4,777 | 303,624 | (298,847) | (758) | 293,999 | (294,757) | |
205,638 | 369,948 | (164,310) | 159,196 | 500,773 | (341,577) | |
Revenue Cost of Sales Gross Profit
Other Income
Selling and Distribution Costs Administrative Expenses
Loss From Derecognition of Property, Plant & Equipment Other Expenses
Finance Income
Finance Expenses
Share of Associate Company's Profit / ( Loss)
Profit / (Loss) Before TaxIncome Tax Expenses
Net Profit / (Loss) for the Period Other Comprehensive IncomeOther Comprehensive Income to be reclassified to Profit or Loss in subsequent periods(net of tax)
Other Comprehensive Income not to be reclassified to Profit or Loss in subsequent periods(net of tax)
Actuarial Gains / (Losses) on defined benefit plans
Income tax effect on actuarial Gains / (Losses) on defined benefit plans Revaluation of Land & Building
Deferred Tax effect on Revaluation of Land & Building
Actuarial Gains / (Losses) on defined benefit plans -Associate
Income tax effect on actuarial Gains / (Losses) on defined benefit plans-Associate
Revaluation of Land & Building-Associate
Deferred Tax effect on Revaluation of Land & Building-Associate Gain on Fair Value Through Other Comprehensive Income Financial Instruments
Deferred tax effect on Gain on Fair Value Through OCI Financial Instruments
Other Comprehensive Income for the period
Total Comprehensive Income/(Loss) for the Period, Net of taxEarnings Per Share - Basic 10.04 3.32 6.73 8.00 10.34 (2.34)
The above figures are provisional and subject to audit.
Tangerine Beach Hotels PLC | |||||||
STATEMENT OF CHANGES IN EQUITY | |||||||
As At 31st March 2026 | |||||||
Stated Capital | Revaluation Reserve | Revaluation Reserve of Associate Company | Fair value Reserve of Financials Assets at FVOCI | Accumulated Profits | Total Equity | ||
Rs.'000' | Rs.'000' | Rs.'000' | Rs.'000' | Rs.'000' | Rs.'000' | ||
Balance as at 1st April 2024 | 244,800 | 1,435,238 | 343,520 | 77 | 957,357 | 2,980,992 | |
Net Profit/(Loss) for the Period | - | - | 66,324 | 66,324 | |||
- | |||||||
Other Comprehensive Income | 237,685 | 69,024 | 541 | (3,626) | 303,624 | ||
Total Comprehensive Income | - | 237,685 | 69,024 | 541 | 62,698 | 369,948 | |
Balance as at 31st March 2025 | 244,800 | 1,672,923 | 412,544 | 618 | 1,020,055 | 3,350,940 | |
Balance as at 1st April 2025 | 244,800 | 1,672,923 | 412,544 | 618 | 1,020,055 | 3,350,940 | |
Net Profit /( Loss ) for the Period | 200,861 | 200,861 | |||||
Other Comprehensive Income | 5,968 | 2,148 | (3,339) | 4,777 | |||
Total Comprehensive Income | - | 5,968 | 2,148 | 197,522 | 205,638 | ||
Balance as at 31st March 2026 | 244,800 | 1,678,891 | 414,692 | 618 | 1,217,577 | 3,556,578 | |
The above figures are provisional and subject to audit. | |||||||
Tangerine Beach Hotels PLC | ||
CASH FLOW STATEMENT | ||
For The Year Ended 31st March 2026 | ||
Company | ||
31.03.2026 | 31.03.2025 | |
Rs.'000' | Rs.'000' | |
Cash Flows from / (Used in) Operating Activities | ||
Net Profit / (Loss) before Income Tax Expense | 198,545 | 63,370 |
Adjustments for : | ||
Depreciation on Property, Plant and Equipment | 82,193 | 77,011 |
Allowance for Inventory | (495) | 606 |
Amortization of Intangible assets | 591 | 286 |
Provision for bad and doubtful debts | (314) | (120) |
Depreciation of Right-of -Use Assets | 860 | 860 |
Interest Income | (13,665) | (9,228) |
Interest Expenses | 2,381 | 2,772 |
(Profit)/Loss on Disposal of Property, Plant & Equipment | - | (5,200) |
De-recognition of Property, Plant and equipment | 4,505 | 4,181 |
Post employment benefit plans | 7,531 | 7,214 |
Share of Associate's (Profit) / Loss | (43,540) | (4,561) |
Operating Profit / (Loss ) before Working Capital Changes | 238,592 | 137,191 |
Changes in working capital | ||
Receivable and Prepayments | 53,620 | 114,709 |
Inventories | (12,313) | 2,163 |
Payables | 1,678 | 11,137 |
Cash Generated from Operations | 281,577 | 265,200 |
Finance Costs Paid | (1,605) | (1,840) |
Retirement Benefit Costs Paid | (2,241) | (5,767) |
Income Tax Paid | (455) | (476) |
Net Cash Flows From/(used in) Operating Activities | 277,276 | 257,117 |
Cash Flows from / (Used in ) Investing Activities | ||
Acquisition of Property, Plant & Equipment | (159,253) | (171,631) |
Acquisition of Intangible Assets | (2,460) | - |
Disposal of Property, Plant & Equipment | - | 5,200 |
Investment in Fixed Deposit | (81,325) | (17,213) |
Interest Received | 12,524 | 9,128 |
Loan Obtained | - | 30,000 |
Net Cash Flows (Used in) Investing Activities | (230,514) | (144,516) |
Cash Flows from / (Used in ) Financing Activities | ||
Repayment of Interest bearing Loans & borrowings | (12,000) | (8,000) |
Lease Rental Paid | (1,650) | (1,800) |
Net Cash Flows from / (Used in ) Financing Activities | (13,650) | (9,800) |
Net increase/(Decrease) in Cash and Cash Equivalents | 33,112 | 102,801 |
Effects of exchange rate changes on Cash & Cash Equivalents | 2,183 | (4,359) |
Cash and Cash Equivalents at the beginning of the period | 209,208 | 110,766 |
Cash and Cash Equivalents at the end of the period (Note A) | 244,503 | 209,208 |
Note A | ||
CASH AND CASH EQUIVALENTS | ||
Components of Cash and Cash Equivalents | ||
Cash & Bank Balances | 304,356 | 298,970 |
Bank Overdrafts | (59,853) | (89,762) |
244,503 | 209,208 | |
The above figures are provisional and subject to audit. | ||
Notes
-
Corporate Information
Tangerine Beach Hotel PLC is a public limited liability company incorporated and domiciled in Sri Lanka listed on the Colombo Stock Exchange .The Interim Financial Statements of the Company for the quarter ended 31st March 2026 were authorized for issue by Board of Directors on 22nd May 2026.
-
Basis of Preparation
The Interim financial statements of the Company have been prepared on the basis of the same accounting policies and methods of computation applied for the year ended 31st March 2025 are in compliance with the Sri Lanka Accounting Standard 34 -Interim Financial Reporting.
31.03.2026 31.03.2025 Market price during the quarter - Highest ( Rs. ) 135.00 86.50
- Lowest (Rs. ) 95.00 66.00
- Closing ( Rs. ) 101.25 70.00
- Last Traded ( Rs. ) 101.25 70.00
The Company has a 28.41% interest in Royal Palms Beach Hotels PLC, situated at Kaluthara which is also involved in the hoteliering business
.
There are no material events subsequent to the quarter ended 31.03.2026 that need disclosure.
There were no material changes in the composition of the assets and liabilities of the company during the quarter under review.
There are no significant contingencies as at 31.03.2026.
Six months of the period under review relates to the off season of the tourism industry.
Stated Capital is represented by shares in issue as given below:
As at 31.03.2026 31.03.2025
Number of Ordinary Shares 20,000,000 20,000,000
Revenue & Net Profit/ Loss Year Ended 31st March
1400
1200
1000
800
600
400
200
0
-200
-400
Revenue
Net Profit/ Loss
2023 2024 2025 2026
Year Rs.In Mn9
1058.4 1147.9 | |||||||||
964.6 | |||||||||
569.1 | |||||||||
77.4 | 200.8 | ||||||||
66.3 | |||||||||
-201.4 | |||||||||
TANGERINE BEACH HOTELS PLC | |||
DIRECTORS' SHAREHOLDINGS AS AT 31ST MARCH 2026 | |||
No. of Shares held | |||
Ms. A M Ondaatjie | 569,982 | 2.85% | |
Mr. G G Ondaatjie | 538,028 | 2.69% | |
Mr. T J Ondaatjie | 582,220 | 2.91% | |
Mr. N H V Perera | 202,236 | 1.01% | |
Mrs. C A Ondaatjie | 259,854 | 1.30% | |
Mr. L H Jayasinghe | - | 0.00% | |
Mr. P S R Casie Chitty | - | 0.00% | |
Ms. P T K Navaratne | - | 0.00% | |
Mr. G K Sudath Kumar | - | 0.00% | |
Ms. A Nanayakkara | - | 0.00% | |
PUBLIC HOLDING PERCENTAGE AS AT 31/03/2026 | 36.27% | ||
NUMBER OF PUBLIC SHAREHOLDERS | 1,639 | ||
Float Adujusted Market Capitalisation as at 31/03/2026 | Rs. | 734,467,500.00 | |
The Company is compliant with the minimum public holding requirement under option 5 of 7.13.1(i)(a) | |||
Number of shares repesenting the Stated Capital | 20,000,000 | ||
20 Largest Shareholders | |||
Nilaveli Beach Hotels (Pvt) Limited | 6,147,018 | 30.74% | |
Mercantile Investments and Finance PLC | 3,899,644 | 19.50% | |
Employees Providend Fund | 1,629,471 | 8.15% | |
N Vaitilingam & Co. Ltd | 981,431 | 4.91% | |
T J Ondaatjie | 582,220 | 2.91% | |
A M Ondaatjie | 569,982 | 2.85% | |
G G Ondaatjie | 538,028 | 2.69% | |
N J H M Cooray | 433,770 | 2.17% | |
Tangerine Tours (Pvt) Ltd | 405,478 | 2.03% | |
Blue Oceanic Beach Hotels (Pvt) Ltd | 295,172 | 1.48% | |
Jet Travels (Private) Ltd | 267,032 | 1.34% | |
C A Ondaatjie | 259,854 | 1.30% | |
M Keerthiratne | 255,898 | 1.28% | |
N T M S Cooray | 246,072 | 1.23% | |
N H V Perera | 202,236 | 1.01% | |
Ceylon Galvanising Industries Ltd | 201,566 | 1.01% | |
U Surendra | 165,450 | 0.83% | |
K M N Perera | 152,756 | 0.76% | |
H A A de Silva | 150,530 | 0.75% | |
Peoples Leasing and Finance PLC/Suhada | 138,567 | 0.69% | |
Gas Distributors Pvt Ltd | |||