INTERIM FINANCIAL STATEMENTS
For the six months ended 30th September 2024
VALLIBEL FINANCE PLC
Statement of Financial Position
Amounts in Rupees '000
Company | ||
As at | As at | |
30th | Change | |
31st March | ||
September | % | |
2024 | ||
2024 | ||
(Audited)
Group | ||
As at | As at | |
30th | Change | |
31st March | ||
September | % | |
2024 | ||
2024 | ||
(Audited)
Assets
Cash and Cash Equivalents
Placements with Banks and Other Finance Companies
Financial Assets Measured at Fair Value Through Profit or Loss (FVTPL)
Financial Assets at Amortised Cost - Loans and Receivables to Other Customers
Financial Assets at Amortised Cost - Lease Rental and Hire Purchase Receivables
Financial Investments Measured at Fair Value Through Other Comprehensive Income
Financial Assets at Amortised Cost - Debt and other Financial Instruments
Financial Assets at Amortised Cost - Other Financial Assets Investment in a Subsidiary
Investment Property
Property, Plant and Equipment
Right of Use Lease Assets
Intangible Assets
Deferred Tax Assets
Other Assets
1,448,822 | 1,952,377 | (25.8) | 1,449,916 | 1,958,981 | (26.0) |
11,939 | 8,322,520 | (99.9) | 11,939 | 8,322,520 | (99.9) |
955,698 | 3,652,152 | (73.8) | 1,272,858 | 4,181,480 | (69.6) |
63,691,378 | 57,895,030 | 10.0 | 63,691,378 | 57,895,030 | 10.0 |
11,484,322 | 10,346,936 | 11.0 | 11,484,322 | 10,346,936 | 11.0 |
204 | 204 | - | 204 | 204 | - |
11,574,954 | 5,048,103 | 129.3 | 11,574,954 | 5,048,103 | 129.3 |
45,878 | 34,319 | 33.7 | 45,878 | 34,319 | 33.7 |
0 | 0 | - | - | - | - |
1,178,000 | 1,178,000 | - | 1,100,225 | 1,100,225 | - |
1,002,875 | 968,056 | 3.6 | 4,430,372 | 4,477,237 | (1.0) |
2,426,337 | 1,746,895 | 38.9 | 787,265 | 744,154 | 5.8 |
15,373 | 20,325 | (24.4) | 16,311 | 21,450 | (24.0) |
644,012 | 644,012 | 0.0 | 373,282 | 373,282 | 0.0 |
2,149,883 | 1,358,620 | 58.2 | 398,310 | 307,260 | 29.6 |
Total Assets | 96,629,675 | 93,167,549 | 3.7 | 96,637,214 | 94,811,181 | 1.9 |
Liabilities | ||||||
Bank Overdrafts | 2,180,047 | 1,913,964 | 13.9 | 2,229,334 | 1,913,964 | 16.5 |
Rental Received in Advance | 202,677 | 197,788 | 2.5 | 215,592 | 216,238 | (0.3) |
Financial Liabilities at Amortised Cost - Deposits due to Customers | 61,273,440 | 58,643,446 | 4.5 | 61,273,440 | 58,643,446 | 4.5 |
Financial Liabilities at Amortised Cost - Interest bearing Borrowings | 9,886,392 | 10,786,680 | (8.3) | 10,888,754 | 12,747,146 | (14.6) |
Subordinated Term Debts | 3,582,280 | 3,331,609 | 7.5 | 3,582,280 | 3,331,609 | 7.5 |
Lease Liabilities | 2,720,348 | 1,989,370 | 36.7 | 1,006,032 | 967,092 | 4.0 |
Current Tax Liabilities | 565,787 | 642,304 | (11.9) | 565,787 | 642,304 | (11.9) |
Deferred Tax Liabilities | 739,934 | 739,934 | 0.0 | 881,723 | 881,723 | (0.0) |
Other Liabilities | 1,651,148 | 1,791,325 | (7.8) | 1,846,559 | 2,048,996 | (9.9) |
Retirement Benefit Obligations | 203,265 | 157,336 | 29.2 | 203,265 | 157,336 | 29.2 |
Total Liabilities | 83,005,318 | 80,193,756 | 3.5 | 82,692,766 | 81,549,854 | 1.4 |
Equity | ||||||
Stated Capital | 1,325,918 | 1,325,918 | - | 1,325,918 | 1,325,918 | - |
Statutory Reserve Fund | 1,929,924 | 1,873,851 | 3.0 | 1,929,924 | 1,873,851 | 3.0 |
Other Reserves | 184,035 | 184,035 | (0.0) | 643,081 | 643,081 | 0.0 |
Retained Earnings | 10,184,480 | 9,589,989 | 6.2 | 10,045,525 | 9,418,477 | 6.7 |
Total Equity attributable to Equity holders of the Company | 13,624,357 | 12,973,793 | 5.0 | 13,944,448 | 13,261,327 | 5.2 |
Non Controlling Interest | - | - | - | - | - | - |
Total Equity | 13,624,357 | 12,973,793 | 5.0 | 13,944,448 | 13,261,327 | 5.2 |
Total Liabilities and Equity | 96,629,675 | 93,167,549 | 3.7 | 96,637,214 | 94,811,181 | 1.9 |
Net Assets Value Per Share (Rs.) | 57.86 | 55.10 | 5.0 | 59.22 | 56.32 | 5.2 |
The information contained in these statements have been extracted from the unaudited Financial Statements of Vallibel Finance PLC and the subsidiary unless indicated as audited.
Certification
These Financial Statements have been prepared and presented in compliance with the requirements of the Companies Act, No.07 of 2007.
K.D.Menaka Sameera
Senior DGM - Finance & Administration
The Board of Directors is responsible for the preparation and the presentation of these Financial Statements.
Approved and signed for and on behalf of the Board ;
S.B. Rangamuwa | S.S. Weerabahu |
Managing Director | Executive Director |
28th October 2024
Colombo
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
VALLIBEL FINANCE PLC
Statement of Profit or Loss and Other Comprehensive Income
Amounts in Rupees '000 | |||||||||
Company | Group | Company | Group | ||||||
For the Six Month ended 30th September | For the Six Month ended 30th September | For the quarter ended 30th September | For the quarter ended 30th September | ||||||
2024 | 2023 | Change % | 2024 | 2023 Change % | 2024 | 2023 Change % | 2024 | 2023 Change % | |
Gross Income | 9,297,631 | 10,225,455 | (9.1) |
Interest Income | 8,218,546 | 9,558,692 | (14.0) |
Interest Expense | (4,384,205) | (6,169,862) | (28.9) |
Net Interest Income | 3,834,341 | 3,388,830 | 13.1 |
Fee and Commission Income | 365,562 | 316,556 | 15.5 |
Net Fee and Commission Income | 365,562 | 316,556 | 15.5 |
Net Gain / (Loss) from Trading | 504 | 135 | 273.0 |
Net (Loss) / Gain from other Financial Instruments at FVTPL | 1,176 | 32,194 | (96.3) |
Other Operating Income | 711,843 | 317,878 | 123.9 |
Total Operating Income | 4,913,425 | 4,055,593 | 21.2 |
Impairment Charges and Other Credit Losses on Financial Assets | (166,114) | (220,291) | (24.6) |
Net Operating Income | 4,747,311 | 3,835,302 | 23.8 |
Expenses |
9,319,897 | 10,213,286 | (8.7) |
8,218,546 | 9,558,692 | (14.0) |
(4,357,483) | (6,169,862) | (29.4) |
3,861,063 | 3,388,830 | 13.9 |
358,545 | 308,906 | 16.1 |
358,545 | 308,906 | 16.1 |
504 | 135 | 271.9 |
1,982 | 32,194 | (93.8) |
740,319 | 313,358 | 136.3 |
4,962,413 | 4,043,422 | 22.7 |
(166,114) | (220,291) | (24.6) |
4,796,299 | 3,823,132 | 25.5 |
4,653,952 | 5,148,205 | (9.6) | 4,667,180 | 5,141,948 | (9.2) |
4,073,554 | 4,798,918 | (15.1) | 4,073,554 | 4,798,918 | (15.1) |
(2,115,406) | (2,922,889) | (27.6) | (2,088,257) | (2,922,889) | (28.6) |
1,958,148 | 1,876,029 | 4.4 | 1,985,297 | 1,876,029 | 5.8 |
181,147 | 162,423 | 11.5 | 177,930 | 158,598 | 12.2 |
181,147 | 162,423 | 11.5 | 177,930 | 158,598 | 12.2 |
13 | 164 | (92.3) | 13 | 164 | (92.3) |
68,309 | 21,890 | 212.1 | 73,639 | 21,890 | 236.4 |
330,930 | 164,810 | 100.8 | 342,045 | 162,378 | 110.6 |
2,538,547 | 2,225,315 | 14.1 | 2,578,924 | 2,219,059 | 16.2 |
(60,296) | (152,694) | (60.5) | (60,296) | (152,694) | (60.5) |
2,478,251 | 2,072,621 | 19.6 | 2,518,628 | 2,066,364 | 21.9 |
Personnel Expenses | (1,247,506) | (1,013,108) | 23.1 |
Premises Equipment and Establishment Expenses | (270,492) | (158,049) | 71.1 |
Other Operating Expenses | (740,731) | (561,327) | 32.0 |
Operating Profit Before Taxes on Financial Services | 2,488,582 | 2,102,818 | 18.3 |
Taxes on Financial Services | (620,536) | (539,663) | 15.0 |
Profit Before Income Tax | 1,868,046 | 1,563,155 | 19.5 |
Income Tax Expense | (746,575) | (662,274) | 12.7 |
Profit for the Period | 1,121,471 | 900,881 | 24.5 |
Profit Attributable to : |
(1,248,871) | (1,013,108) | 23.3 |
(262,462) | (158,468) | 65.6 |
(760,216) | (565,685) | 34.4 |
2,524,750 | 2,085,871 | 21.0 |
(624,147) | (539,663) | 15.7 |
1,900,603 | 1,546,208 | 22.9 |
(746,575) | (662,274) | 12.7 |
1,154,028 | 883,934 | 30.6 |
(618,793) | (523,373) | 18.2 | (619,347) | (523,117) | 18.4 |
(147,818) | (79,846) | 85.1 | (175,241) | (80,265) | 118.3 |
(379,094) | (295,209) | 28.4 | (341,329) | (296,693) | 15.0 |
1,332,546 | 1,174,193 | 13.5 | 1,382,711 | 1,166,289 | 18.6 |
(325,609) | (296,116) | 10.0 | (327,662) | (296,116) | 10.7 |
1,006,937 | 878,077 | 14.7 | 1,055,049 | 870,173 | 21.2 |
(395,863) | (377,846) | 4.8 | (395,863) | (377,846) | 4.8 |
611,074 | 500,231 | 22.2 | 659,186 | 492,327 | 33.9 |
Equity holders of the Company | 1,121,471 | 900,881 | 24.5 | 1,154,028 | 883,934 | 30.6 | 611,074 | 500,231 | 22.2 | 659,186 | 492,327 | 33.9 | ||
Non Controlling Interest | - | - | - | - | - | - | - | - | - | - | - | - | ||
Profit for the Period | 1,121,471 | 900,881 | 24.5 | 1,154,028 | 883,934 | 30.6 | 611,074 | 500,231 | 22.2 | 659,186 | 492,327 | 33.9 | ||
Earnings Per Share (Annualised) - Rs. | 9.53 | 7.65 | 24.5 | 9.80 | 7.51 | 30.6 | 10.38 | 8.50 | 22.2 | 11.20 | 8.36 | 33.9 | ||
Total Comprehensive Income for the Period | 1,121,471 | 900,881 | 24.5 | 1,154,028 | 883,934 | 30.6 | 611,074 | 500,231 | 22.2 | 659,186 | 492,327 | 33.9 | ||
Attributable to : | ||||||||||||||
Equity holders of the Company | 1,121,471 | 900,881 | 24.5 | 1,154,028 | 883,934 | 30.6 | 611,074 | 500,231 | 22.2 | 659,186 | 492,327 | 33.9 | ||
Non Controlling Interest | - | - | - | - | - | - | - | - | - | - | - | - | ||
Total Comprehensive Income for the Period | 1,121,471 | 900,881 | 24.5 | 1,154,028 | 883,934 | 30.6 | 611,074 | 500,231 | 22.2 | 659,186 | 492,327 | 33.9 | ||
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
VALLIBEL FINANCE PLC
Statement of Changes in Equity - Company
Amounts in Rupees '000 | ||||||
Stated Capital | Statutory Reserve | Revaluation | General | Retained | Total | |
Fund | Reserve | Reserve | Earnings | Equity | ||
Balance as at 01st April 2023 | 1,325,918 | 1,766,773 | 157,386 | 7,500 | 7,829,349 | 11,086,926 |
Total Comprehensive Income for the Period | ||||||
Profit for the Period | - | - | - | - | 900,881 | 900,881 |
Other Comprehensive Income, net of Tax | - | - | - | - | - | - |
Total Comprehensive Income for the Period | - | - | - | - | 900,881 | 900,881 |
Transactions with owners of the Company | ||||||
Contributions and distributions | ||||||
Dividends to equity holders | ||||||
Dividend Paid for the Financial Year 2022/23 | - | - | - | - | (235,453) | (235,453) |
Statutory Reserve Transfer | - | 45,044 | - | - | (45,044) | - |
Total Transactions with Equity Holders | - | 45,044 | - | - | (280,497) | (235,453) |
Balance as at 30th September 2023 | 1,325,918 | 1,811,817 | 157,386 | 7,500 | 8,449,733 | 11,752,354 |
Balance as at 01st April 2024 | 1,325,918 | 1,873,851 | 176,535 | 7,500 | 9,589,989 | 12,973,793 |
Total Comprehensive Income for the Period | ||||||
Profit for the Period | - | - | - | - | 1,121,471 | 1,121,471 |
Other Comprehensive Income, net of Tax | - | - | - | - | - | - |
Total Comprehensive Income for the Period | - | - | - | - | 1,121,471 | 1,121,471 |
Transactions with owners of the Company | ||||||
Contributions and distributions | ||||||
Dividends to equity holders | ||||||
Dividend Paid for the Financial Year 2023/24 | - | - | - | - | (470,907) | (470,907) |
Statutory Reserve Transfer | - | 56,073 | - | - | (56,073) | - |
Total Transactions with Equity Holders | - | 56,073 | - | - | (526,980) | (470,907) |
Balance as at 30th September 2024 | 1,325,918 | 1,929,924 | 176,535 | 7,500 | 10,184,480 | 13,624,357 |
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
VALLIBEL FINANCE PLC
Statement of Changes in Equity - Group
Amounts in Rupees '000 | ||||||||||
Stated | Statutory | Revaluation | General | Retained | Total Equity | Non | Total | |||
Capital | Reserve Fund | Reserve | Reserve | Earnings | Attributable to | Controlling | Equity | |||
Equity Holders | Interest | |||||||||
of the | ||||||||||
Company | ||||||||||
Balance as at 01st April 2023 | 1,325,918 | 1,766,773 | 213,036 | 7,500 | 7,744,455 | 11,057,682 | - | 11,057,682 | ||
Total Comprehensive Income for the Period | ||||||||||
Profit for the Period | - | - | - | - | 883,934 | 883,934 | - | 883,934 | ||
Other Comprehensive Income, net of Tax | - | - | - | - | - | - | - | - | ||
Total Comprehensive Income for the Period | - | - | - | - | 883,934 | 883,934 | - | 883,934 | ||
Transactions with owners of the Company | ||||||||||
Contributions and distributions | ||||||||||
Dividends to equity holders | ||||||||||
Dividend Paid for the Financial Year 2022/23 | - | - | - | - | (235,453) | (235,453) | - | (235,453) | ||
Statutory Reserve Transfer | - | 45,044 | - | - | (45,044) | - | - | - | ||
Total Transactions with Equity Holders | - | 45,044 | - | - | (280,497) | (235,453) | - | (235,453) | ||
Balance as at 30th September 2023 | 1,325,918 | 1,811,817 | 213,036 | 7,500 | 8,347,892 | 11,706,163 | - | 11,706,163 | ||
Balance as at 01st April 2024 | 1,325,918 | 1,873,851 | 635,581 | 7,500 | 9,418,477 | 13,261,327 | - | 13,261,327 | ||
Total Comprehensive Income for the Period | ||||||||||
Profit for the Period | - | - | - | - | 1,154,028 | 1,154,028 | - | 1,154,028 | ||
Other Comprehensive Income, net of Tax | - | - | - | - | - | - | - | - | ||
Total Comprehensive Income for the Period | - | - | - | - | 1,154,028 | 1,154,028 | - | 1,154,028 | ||
Transactions with owners of the Company | ||||||||||
Contributions and distributions | ||||||||||
Dividends to equity holders | ||||||||||
Dividend Paid for the Financial Year 2023/24 | - | - | - | - | (470,907) | (470,907) | - | (470,907) | ||
Statutory Reserve Transfer | - | 56,073 | - | - | (56,073) | - | - | - | ||
Total Transactions with Equity Holders | - | 56,073 | - | - | (526,980) | (470,907) | - | (470,907) | ||
Balance as at 30th September 2024 | 1,325,918 | 1,929,924 | 635,581 | 7,500 | 10,045,525 | 13,944,448 | - | 13,944,448 |
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
VALLIBEL FINANCE PLC
Cash Flow Statement
Company
Amounts in Rupees '000
Group
30th | 30th | 30th | 30th | |
For the Period Ended | September | september | September | September |
2024 | 2023 | 2024 | 2023 | |
Cash Flow From Operating Activities | ||||
Interest and Commission Receipts | 9,078,918 | 9,514,342 | 9,088,428 | 9,514,342 |
Interest Payments | (4,634,211) | (5,853,722) | (4,741,459) | (5,964,308) |
Cash Receipts from Customers | 684,978 | 255,536 | 704,902 | 269,186 |
Cash Payments to Employees and Suppliers | (2,819,204) | (2,254,013) | (2,716,853) | (2,259,747) |
Operating Profit Before Changes in Operating Assets and Liabilities | 2,310,481 | 1,662,143 | 2,335,018 | 1,559,473 |
( Increase ) / Decrease in Operating Assets |
Short Term Funds
Deposits held for Regulatory or Monetary Control Purposes
Financial Assets at Amortised Cost - Loans and advances / Lease rental & Hire purchase receivables
Other Short Term Negotiable Securities
Increase / ( Decrease ) in Operating Liabilities
(916,338) | 512,244 | (287,338) | 558,658 |
(6,026,851) | (4,847,300) | (6,026,851) | (4,847,300) |
(7,105,108) | (507,945) | (7,105,108) | (507,945) |
10,036,851 | 1,910,720 | 10,249,825 | 1,902,387 |
Financial liabilities at amortised cost - Due to depositors | 3,274,286 | 2,806,106 | 3,274,286 | 2,806,106 |
Net Cash Generated from Operating Activities before Income Tax | 1,573,321 | 1,535,968 | 2,439,832 | 1,471,379 |
Current Taxes Paid | (823,092) | (602,063) | (823,092) | (602,063) |
Gratuity Paid | (6,121) | (8,988) | (6,121) | (8,988) |
Net Cash Generated from Operating Activities | 744,108 | 924,917 | 1,610,619 | 860,328 |
Cash Flows From Investing Activities | ||||
Proceed from Sale of Property , Plant and Equipment | 3,952 | - | 3,952 | - |
Purchase of Property , Plant and equipment | (157,717) | (122,593) | (159,582) | (310,521) |
Net Cash Used In from Investing Activities | (153,765) | (122,593) | (155,630) | (310,521) |
Cash Flows From Financing Activities | ||||
Net decrease in Financial liabilities at amortised cost - Interest bearing Borrowings | (889,074) | (1,214,623) | (1,808,517) | (964,290) |
Dividends Paid | (470,907) | (235,453) | (470,907) | (235,453) |
Net Cash Used In Financing Activities | (1,359,981) | (1,450,076) | (2,279,424) | (1,199,743) |
Net (Decrease) / Increase in Cash & Cash Equivalents | (769,638) | (647,752) | (824,435) | (649,936) |
Cash & Cash Equivalents at the Beginning of the Period | 38,413 | 771,605 | 45,017 | 778,334 |
Cash & Cash Equivalents at the End of the Period ( Note A ) | (731,225) | 123,853 | (779,418) | 128,398 |
Note A | ||||
Cash & Cash Equivalents at the End of the Period | ||||
Cash in Hand and at Banks | 1,448,822 | 2,035,431 | 1,449,916 | 2,039,976 |
Bank Overdrafts | (2,180,047) | (1,911,578) | (2,229,334) | (1,911,578) |
(731,225) | 123,853 | (779,418) | 128,398 | |
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
Analysis of Financial Instruments by Measurement Basis - Company
Amounts in Rupees '000 | ||||||||||||
Financial Assets recognised | Financial Assets at Fair Value | Financial Assets at Amortised | Total | |||||||||
through Profit or Loss (FVTPL) | through Other Comprehensive | Cost (AC) | ||||||||||
Income (FVTOCI) | ||||||||||||
As at | As at | As at | As at | As at | As at | As at | As at | |||||
30th September | 31st March | 30th September | 31st March | 30th September | 31st March | 30th September | 31st March | |||||
2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | |||||
Assets | ||||||||||||
Cash and Cash Equivalents | - | - | - | - | 1,448,822 | 1,952,377 | 1,448,822 | 1,952,377 | ||||
Placements with Banks and Other Finance Companies | - | - | - | - | 11,939 | 8,322,520 | 11,939 | 8,322,520 | ||||
Financial Assets Measured at Fair Value Through Profit or Loss (FVTPL) | 955,698 | 3,652,152 | - | - | - | - | 955,698 | 3,652,152 | ||||
Financial Assets at Amortised Cost - Loans and Receivables to Other Customers | - | - | - | - | 63,691,378 | 57,895,030 | 63,691,378 | 57,895,030 | ||||
Financial Assets at Amortised Cost - Lease Rental and Hire Purchase Receivables | - | - | - | - | 11,484,322 | 10,346,936 | 11,484,322 | 10,346,936 | ||||
Financial Investments Measured at Fair Value Through Other Comprehensive Income | - | - | 204 | 204 | - | - | 204 | 204 | ||||
Financial Assets at Amortised Cost | - Debt and other Financial Instruments | - | - | - | - | 11,574,954 | 5,048,103 | 11,574,954 | 5,048,103 | |||
Financial Assets at Amortised Cost | - Other Financial Assets | - | - | - | - | 45,878 | 34,319 | 45,878 | 34,319 | |||
Total Financial Assets | 955,698 | 3,652,152 | 204 | 204 | 88,257,293 | 83,599,285 | 89,213,195 | 87,251,641 | ||||
Financial Liabilities at | Total | |||||||||||
Amortised Cost (AC) | ||||||||||||
As at | As at | As at | As at | |||||||||
30th September | 31st March | 30th September | 31st March | |||||||||
2024 | 2024 | 2024 | 2024 | |||||||||
Liabilities | ||||||||||||
Bank Overdrafts | 2,180,047 | 1,913,964 | 2,180,047 | 1,913,964 | ||||||||
Rental Received in Advance | 202,677 | 197,788 | 202,677 | 197,788 | ||||||||
Financial Liabilities at Amortised Cost - Deposits due to Customers | 61,273,440 | 58,643,446 | 61,273,440 | 58,643,446 | ||||||||
Financial Liabilities at Amortised Cost - Interest bearing Borrowings | 9,886,392 | 10,786,680 | 9,886,392 | 10,786,680 | ||||||||
Subordinated Term Debts | 3,582,280 | 3,331,609 | 3,582,280 | 3,331,609 | ||||||||
Lease Liabilities | 2,720,348 | 1,989,370 | 2,720,348 | 1,989,370 | ||||||||
Total Financial Liabilities | 79,845,184 | 76,862,857 | 79,845,184 | 76,862,857 |
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
Analysis of Financial Instruments by Measurement Basis - Group
Amounts in Rupees '000 | ||||||||||||
Financial Assets recognised | Financial Assets at Fair Value | Financial Assets at Amortised | Total | |||||||||
through Profit or Loss (FVTPL) | through Other Comprehensive | Cost (AC) | ||||||||||
Income (FVTOCI) | ||||||||||||
As at | As at | As at | As at | As at | As at | As at | As at | |||||
30th September | 31st March | 30th September | 31st March | 30th September | 31st March | 30th September | 31st March | |||||
2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | 2024 | |||||
Assets | ||||||||||||
Cash and Cash Equivalents | - | - | - | - | 1,449,916 | 1,958,981 | 1,449,916 | 1,958,981 | ||||
Placements with Banks and Other Finance Companies | - | - | - | - | 11,939 | 8,322,520 | 11,939 | 8,322,520 | ||||
Financial Assets Measured at Fair Value Through Profit or Loss (FVTPL) | 1,272,858 | 4,181,480 | - | - | - | - | 1,272,858 | 4,181,480 | ||||
Financial Assets at Amortised Cost - Loans and Receivables to Other Customers | - | - | - | - | 63,691,378 | 57,895,030 | 63,691,378 | 57,895,030 | ||||
Financial Assets at Amortised Cost - Lease Rental and Hire Purchase Receivables | - | - | - | - | 11,484,322 | 10,346,936 | 11,484,322 | 10,346,936 | ||||
Financial Investments Measured at Fair Value Through Other Comprehensive Income | - | - | 204 | 204 | - | - | 204 | 204 | ||||
Financial Assets at Amortised Cost | - Debt and other Financial Instruments | - | - | - | - | 11,574,954 | 5,048,103 | 11,574,954 | 5,048,103 | |||
Financial Assets at Amortised Cost | - Other Financial Assets | - | - | - | - | 45,878 | 34,319 | 45,878 | 34,319 | |||
Total Financial Assets | 1,272,858 | 4,181,480 | 204 | 204 | 88,258,387 | 83,605,889 | 89,531,449 | 87,787,573 | ||||
Financial Liabilities at | Total | |||||||||||
Amortised Cost (AC) | ||||||||||||
As at | As at | As at | As at | |||||||||
30th September | 31st March | 30th September | 31st March | |||||||||
2024 | 2024 | 2024 | 2024 | |||||||||
Liabilities | ||||||||||||
Bank Overdrafts | 2,229,334 | 1,913,964 | 2,229,334 | 1,913,964 | ||||||||
Rental Received in Advance | 215,592 | 216,238 | 215,592 | 216,238 | ||||||||
Financial Liabilities at Amortised Cost - Deposits due to Customers | 61,273,440 | 58,643,446 | 61,273,440 | 58,643,446 | ||||||||
Financial Liabilities at Amortised Cost - Interest bearing Borrowings | 10,888,754 | 12,747,146 | 10,888,754 | 12,747,146 | ||||||||
Subordinated Term Debts | 3,582,280 | 3,331,609 | 3,582,280 | 3,331,609 | ||||||||
Lease Liabilities | 1,006,032 | 967,092 | 1,006,032 | 967,092 | ||||||||
Total Financial Liabilities | 79,195,432 | 77,819,495 | 79,195,432 | 77,819,495 |
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
Explanatory Notes
- There were no changes to the Accounting Policies since the publication of Audited Financial Statements for the year ended 31st March 2024.
- These Interim Financial Statements have been prepared in accordance with the requirements of Sri Lanka Accounting Standard - LKAS 34 on 'Interim Financial Reporting'.
- Lanka Rating Agency has maintained entity rating of Vallibel Finance PLC at BBB+ with improved outlook to "Stable".
- The Group Financial Statements comprise a consolidation of the Company and its fully owned subsidiary, Vallibel Properties Ltd. Vallibel Properties Ltd engages in administration of construction, development and maintenance of the Corporate office building complex for Vallibel Finance PLC.
- During the quarter there were no material changes in the composition of assets, liabilities, contingent liabilities. All known expenditure items have been provided for.
- The company declared a First and Final Dividend of Rupees Two (Rs.2/-) per share payable as a Cash Dividend for the financial year ended 31st March 2024 on 18th June 2024.
- There were no material events took place since reporting date other than disclosed above in Financial Statements.
Selected Performance Indicators
As at | As at | ||
Indicator | 30th September | 30th September | |
2024 | 2023 | ||
Asset Quality | Rs'000 | Rs'000 | |
Gross Non - Performing Accomodation | 4,095,628 | * | 6,713,806 |
Net Non - Performing Accomodation | 335,209 | * | 3,380,649 |
Liquidity | Rs'000 | Rs'000 | |
Required Minimum Amount of Liquid Assets | 6,355,867 | 5,409,880 | |
Available Amount of Liquid Assets | 11,941,594 | 17,146,367 | |
Required Minimum Amount of Government Securities | 4,153,826 | 3,373,890 | |
Available Amount of Government Securities | 10,989,652 | 8,911,006 | |
Capital Adequacy | |||
Tier 1 Capital to Risk Weighted Assets Ratio (Minimum 8.50%) | 15.99% | 15.19% | |
Total Capital to Risk Weighted Assets Ratio (Minimum 12.50%) | 18.37% | 19.77% | |
Capital Funds to Total Deposit Liabilities Ratio (Minimum 10.00%) | 22.73% | 24.66% | |
Profitability | |||
Return on Average Assets (After Tax) - Annualized | 2.36% | 2.14% | |
Return on Average Equity - Annualized | 16.87% | 15.78% | |
Information On Ordinary Shares | |||
Share Price During the Quarter | For the Quarter Ended | ||
30.09.2024 | 30.09.2023 | ||
Rs. | Rs. | ||
Highest | 43.00 | 42.90 | |
Lowest | 36.00 | 33.20 | |
Closing | 40.30 | 36.90 | |
No. of Ordinary Share Issued as at | 235,453,400 | 235,453,400 | |
Ratios | |||
Debt to Equity Ratio (%) | 98.86% | 138.59% | |
Interest Cover (Times) | 1.57 | 1.34 | |
Liquid Asset Ratio (%) | 20.48% | 32.58% |
Utilization of Funds Raised Via Capital Market
- The Company has early adopted the deferment given by Central Bank of Sri Lanka under the section 4.3.1 of Direction No. 1 of 2020 on classifiaction and measurement of credit facilities as at 30.09.2024.
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
Financial Reporting by Segments as per the Provisions of SLFRS - 08
For management purposes, the Group is organised into four operating segments based on the services offered.
The Following table presents financial information regarding business segments : -
Business Segments
For the Period ended 30th September
Income From External Operations
Lease | Loans & Advances | Investments | Others | Total | |||||
2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 | 2024 | 2023 |
Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 | Rs.'000 |
Interest | 1,287,163 | 1,172,187 | 6,264,122 | 6,738,984 | 667,261 | 1,647,521 | - | - | 8,218,546 | 9,558,692 |
Fee & Commission Income | 24,440 | 13,277 | 206,188 | 185,744 | - | - | 127,917 | 109,885 | 358,545 | 308,906 |
Dividends | - | - | - | - | - | - | - | - | - | - |
Other | 137,485 | 35,683 | 524,710 | 201,845 | 23,692 | 94,676 | 56,918 | 13,483 | 742,805 | 345,687 |
Total Revenue | 1,449,088 | 1,221,147 | 6,995,020 | 7,126,573 | 690,953 | 1,742,197 | 184,835 | 123,368 | 9,319,896 | 10,213,285 |
Profit before Income tax | 1,900,603 | 1,546,208 | ||||||||
Income Tax Expense | (746,575) | (662,274) | ||||||||
Profit after tax | 1,154,028 | 883,934 | ||||||||
Other Information | ||||||||||
As at 31 March | ||||||||||
Segment assets | 11,484,322 | 9,997,392 | 63,691,378 | 51,772,781 | 14,006,058 | 18,927,537 | 7,455,455 | 7,515,196 | 96,637,214 | 88,212,906 |
Segment Liabilities | 9,827,170 | 8,670,703 | 54,500,912 | 44,902,351 | 11,985,028 | 16,415,786 | 6,379,656 | 6,517,904 | 82,692,766 | 76,506,743 |
Net assets | 1,657,152 | 1,326,689 | 9,190,466 | 6,870,430 | 2,021,030 | 2,511,751 | 1,075,799 | 997,292 | 13,944,448 | 11,706,163 |
Vallibel Finance PLC Interim Financial Statements for the Period ended 30th September 2024
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