Vallibel Power Erathna PlcCSELK: VPEL.N0000

Interim Financial Statements for the Quarter ended 31st March 2025

· Issued by Vallibel Power Erathna PLC


‌VALLIBEL POWER ERATHNA PLC‌

INTERIM FINANCIAL STATEMENTS

Forth Quarter for the year ended 31stMarch 2025

‌Consolidated Statement of Financial Position

Group Company

As at

31.03.2025

31.03.2024

31.03.2025

31.03.2024

Rs.

Rs. (Audited)

Rs.

Rs. (Audited)

ASSETS

Non-Current Assets

Property, Plant & Equipment

1,913,794,778

1,836,795,971

777,874,682

653,926,067

Capital Work-in Progress

103,595,309

-

103,595,309

-

Right-to-use of Assets

30,296,321

33,857,897

1,135,973

1,277,970

Investment in Subsidiary

-

-

821,619,980

821,619,980

Intangible Assets

22,994,661

33,635,953

4,055,907

4,340,532

Other non-current asset

4,500,000

4,500,000

-

-

2,075,181,069

1,908,789,821

1,708,281,851

1,481,164,549

Current Assets

Inventories

26,597,627

16,998,201

6,626,822

4,214,329

Trade & Other Receivables

102,936,184

111,570,760

25,658,858

18,050,555

Amounts Due from Related Parties

2,746,067

1,578,535

6,219,012

4,145,085

Cash and cash equivalents

931,760,488

873,886,218

542,980,238

354,470,664

1,064,040,367

1,004,033,714

581,484,929

380,880,633

Total Assets

3,139,221,436

2,912,823,535

2,289,766,780

1,862,045,182

EQUITY AND LIABILITIES

Equity Attributable to Equity Holders of the Parent

Stated Capital

1,174,365,278

1,174,365,278

1,174,365,278

1,174,365,278

Accumulated Profit

1,252,560,269

846,060,244

842,895,543

388,735,215

Capital and reserves attributable to

owners of Vallibel Power Erathna PLC

2,426,925,547

2,020,425,522

2,017,260,821

1,563,100,493

Non - Controlling Interest

178,619,813

184,256,307

-

-

Total Equity

2,605,545,360

2,204,681,829

2,017,260,821

1,563,100,493

Non-Current Liabilities

Retirement Benefit Obligations

77,946,485

53,051,569

53,471,376

36,090,205

Deferred Tax Liability

203,555,606

218,731,691

169,140,104

184,020,953

Lease Liability

38,804,799

40,328,804

1,461,100

1,768,118

320,306,890

312,112,064

224,072,580

221,879,276

Current Liabilities

Accruals and other payables

128,452,725

299,088,023

27,465,241

57,041,018

Lease Liability

1,452,300

2,497,463

176,812

-

Current tax liabilities

83,464,161

94,444,157

20,791,326

20,024,395

213,369,186

396,029,643

48,433,379

77,065,413

Total Equity and Liabilities

3,139,221,436

2,912,823,535

2,289,766,780

1,862,045,182

Net Asset Per Share

3.25

2.70

2.70

2.09

These Financial Statements are in compliance with the requirements of the Companies Act, No. 7 of 2007.

Sajithra Thanoj Russell De Zilva

Accountant Jt.CEO

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board by.

Harsha Amarasekera Devika Weerasinghe

Chairman Director

May 22, 2025 / Colombo

Page 1

Consolidated Statement of Profit or Loss

Group

Company

Quarter

Twelve Months

Quarter

Twelve Months

For the twelve months ended 31st March 2025

2024

Change

2025

2024

Change

2025

2024

Change

2025

2024

Change

Rs.

Rs.

%

Rs.

Rs.

%

Rs.

Rs.

%

Rs.

Rs.

%

Revenue from contracts with customers

126,440,658

164,997,667

(23)

1,376,054,670

1,475,248,843

(7)

20,716,476

19,051,303

9

337,542,754

323,912,381

4

Direct Costs

(47,596,780)

(47,111,328)

1

(184,603,927)

(175,790,956)

5

(16,724,513)

(16,225,264)

3

(64,882,537)

(60,921,402)

7

Gross Profit

78,843,878

117,886,339

(33)

1,191,450,743

1,299,457,887

(8)

3,991,963

2,826,039

41

272,660,217

262,990,979

4

Other Income

-

1,166,138

>999

478,690,191

1,166,138

>999

-

1,059,654,111

-

918,758,655

1,357,353,853

(32)

Administration Expenses

(63,129,405)

(49,981,783)

26

(191,676,882)

(154,204,281)

24

(31,084,575)

(23,345,645)

33

(90,221,214)

(69,466,069)

30

Other Operating Expenses

(616,480)

(776,965)

(21)

(11,876,670)

(3,201,392)

271

(468,083)

(634,936)

>999

(5,964,562)

(2,402,251)

148

Finance Cost

(1,053,523)

(1,300,047)

(19)

(4,292,849)

(4,522,524)

(5)

(44,203)

(214,080)

-

(176,812)

(350,031)

(49)

Finance Income

25,042,990

56,194,678

(55)

84,479,890

128,248,007

(34)

7,953,310

15,990,696

(50)

30,617,315

38,784,386

(21)

Profit Before Tax

39,087,460

123,188,360

(68)

1,546,774,424

1,266,943,835

22

(19,651,588)

1,054,276,186

(102)

1,125,673,599

1,586,910,867

(29)

Income Tax Expenses

(76,618,520)

(215,931,881)

(65)

(436,944,142)

(485,193,787)

(10)

14,412,813

5,905,748

144

(102,751,717)

(69,704,278)

47

Net Profit For the Period

(37,531,059)

(92,743,521)

(60)

1,109,830,282

781,750,048

42

(5,238,775)

1,060,181,934

(100)

1,022,921,883

1,517,206,589

(33)

Attributable to:

Owners of Vallibel Power Erathna PLC

(43,395,311)

(104,849,379)

(59)

979,017,434

670,524,648

46

(5,238,775)

1,060,181,934

(100)

1,022,921,883

1,517,206,589

(33)

Non Controlling Interest

5,864,252

12,105,858

(52)

130,812,848

111,225,400

18

-

-

-

-

-

-

(37,531,059)

(92,743,521)

(60)

1,109,830,282

781,750,048

42

(5,238,775)

1,060,181,934

(100)

1,022,921,883

1,517,206,589

(33)

Basic Earnings Per Share

(0.06)

(0.14)

1.31

0.90

(0.01)

1.42

1.37

2.03

Consolidated Statement of Comprehensive Income

Group

Company

Quarter

Twelve Months

Quarter

Twelve Months

For the twelve months ended 31st March 2025

2024

Change

2025

2024

Change

2025

2024

Change

2025

2024

Change

Rs.

Rs.

%

Rs.

Rs.

%

Rs.

Rs.

%

Rs.

Rs.

%

Net Profit for the Period

(37,531,059)

(92,743,521)

(60)

1,109,830,282

781,750,048

42

(5,238,775)

1,060,181,934

(100)

1,022,921,883

1,517,206,590

(33)

Other Comprehensive Income / (Loss);

Actuarial Gain/(loss) on Defined Benefit Plans

(17,109,057)

(14,343,436)

19

(17,109,057.48)

(14,343,436)

19

(12,041,795)

(9,057,216)

33

(12,041,795)

(9,057,216)

33

Deferred tax impact on Actuarial Gain/(loss)

4,372,628

3,510,099

25

4,372,627.87

3,510,099

25

3,612,539

2,717,165

33

3,612,539

2,717,165

33

Total Other Comprehensive Income /(Loss)

(12,736,430)

(10,833,337)

-

(12,736,430)

(10,833,337)

-

(8,429,257)

(6,340,051)

-

(8,429,257)

(6,340,051)

-

Total Comprehensive Income for the period, net of Tax

(50,267,489)

(103,576,858)

(51)

1,097,093,852

770,916,711

42

(13,668,032)

1,053,841,883

(101)

1,014,492,626

1,510,866,539

(33)

Attributable to:

Owners of Vallibel Power Erathna PLC

(180,529,019)

(115,107,576)

57

966,832,322

660,266,451

46

416,342,708

1,053,841,883

(60)

1,014,492,626

1,510,866,539

(33)

Non Controlling Interest

130,261,530

11,530,718

1030

130,261,530

110,650,260

18

-

-

-

-

-

-

(50,267,489)

(103,576,858)

(51)

1,097,093,852

770,916,711

42

416,342,708

1,053,841,883

(60)

1,014,492,626

1,510,866,539

(33)

Consolidated Statement of Cash Flows

Group Company

For the twelve months ended 31st March 2025 2024 2025 2024

Rs. Rs. Rs. Rs.

Cash Flows from/(Used in) Operating Activities

Net Profit Before Income Tax Expense

1,546,774,424

1,266,943,835

1,125,673,599

1,586,910,868

Adjustments for

Amortization of Intangible Assets

10,641,292

10,641,292

284,625

284,625

Amortization of Right of Use Assets

3,561,578

4,263,339

141,997

561,709

Depreciation

78,708,810

79,189,512

31,352,982

31,348,016

Provision for Retirement Benefit Obligations

11,105,595

8,839,990

7,340,312

5,776,174

Realised Gain on AFS investment

-

-

-

-

Profit/(loss) on disposal of Property, Plant & Equipment

32,025

-

32,025

-

Adjustment for Property, Plant & Equipment Dividend Income

250

(8,909)

-

-

-

-

(787,250,430)

(1,356,187,715)

Finance Income

(84,479,890)

(128,248,007)

(30,617,315)

(38,784,386)

Finance Cost

4,292,849

4,522,525

176,812

350,031

Operating Profit Before Working Capital Changes

1,570,636,933

1,246,143,576

347,134,607

230,259,322

( Increase)/ Decrease in Inventories

(9,599,426)

(1,096,556)

(2,412,493)

(645,326)

( Increase )/ Decrease in Trade and Other Receivables

6,472,955

1,121,451,516

(10,376,940)

333,032,031

( Increase )/ Decrease in Amounts Due from Related Parties

(896,062)

170,942

(1,802,457)

(29,534)

(Increase) / Decrease in Other Financial Assets at Amortised Cost

-

254,794,997

-

-

Increase / (Decrease ) in Trade and Other Payables

(175,435,299)

-

(29,575,777)

42,820,587

Cash Generated from /(used in) Operating Activities

1,391,179,101

2,621,464,475

302,966,940

605,437,080

Finance Cost Paid

(672,783)

(764,288)

(176,812)

(246,597)

Finance Income Received

86,641,508

131,266,491

33,385,952

37,483,428

Retirement Benefit Obligations Paid

(3,591,208)

(2,506,896)

(2,272,406)

(229,549)

Taxes Paid

(458,727,589)

(457,540,356)

(113,253,097)

(76,761,285)

Net Cash from / (used in) Operating Activities

1,014,829,027

2,291,919,427

220,650,577

565,683,077

Cash Flows From / (Used in) Investing Activities

Acquisitions of Property, Plant & Equipments

(259,335,201)

(530,742)

(258,928,931)

(141,000)

Acquisition of Intangible Asset

-

-

-

-

Interest Received on Financial Assets Held as Investments

-

-

-

-

Proceeds from disposal of property, plant & equipment

-

-

-

-

Dividend Received

-

-

787,250,430

1,356,187,715

Net Cash Flow from / (Used In) Investing Activities

(259,335,201)

(530,742)

528,321,499

1,356,046,715

Cash Flows from /(Used in) Financing Activities

Principal Elements of Lease Payments

(1,389,234)

(1,956,674)

(130,205)

(443,255)

Dividends Paid

(696,230,322)

(1,915,106,936)

(560,332,298)

(1,680,996,895)

Net Cash Flows From / (Used In) Financing Activities

(697,619,556)

(1,917,063,610)

(560,462,503)

(1,681,440,150)

Net Increase / (Decrease) In Cash & Cash Equivalents

57,874,270

374,325,075

188,509,574

240,289,642

Cash and Cash Equivalents at the Beginning of the Period (Note A)

873,886,218

499,561,143

354,470,664

114,181,022

Cash and Cash Equivalents at the End of the Period (Note B)

931,760,488

873,886,218

542,980,238

354,470,664

Note A

Cash and Cash Equivalents at the Beginning of the Period

Cash in Hand & at Bank

15,680,449

5,722,104

10,478,331

200,730

Investments in short-term deposits (Matuiry period < 3 months)

858,205,769

493,839,039

343,992,333

113,980,292

873,886,218

499,561,143

354,470,664

114,181,022

Note B

Cash and Cash Equivalents at the End of the Period

Cash in Hand & at Bank

77,631,269

15,680,449

74,245,309

10,478,331

Investments in short-term deposits (Matuiry period < 3 months)

854,129,219

858,205,769

468,734,929

343,992,333

931,760,488

873,886,218

542,980,238

354,470,664

Consolidated Statement of Changes in Equity

Group

Stated

Capital

Accumulated

Profit

Non Controlling

Interest

Total Equity

Rs.

Rs.

Rs.

Rs.

Balance as at 01st April 2023

1,174,365,278

1,866,790,688

307,716,088

3,348,872,054

Net Profit for the Period

-

775,374,028

99,119,541

874,493,569

Dividend

-

(1,680,996,895)

(234,110,041)

(1,915,106,936)

Balance as at 31st March 2024

1,174,365,278

950,909,624

172,150,448

2,297,425,350

Balance as at 01st April 2024

1,174,365,278

846,060,244

184,256,307

2,204,681,829

Net Profit for the Period

-

979,017,434

130,812,848

1,109,830,282

Other Comprehensive Income/(Loss)

(12,185,111.45)

(551,318.16)

(12,736,429.61)

Dividend

-

(560,332,298)

(135,898,024)

(696,230,322)

Balance as at 31st March 2025

1,174,365,278

1,252,560,268

178,619,813

2,605,545,360

Company

Stated

Capital

Accumulated

Profit

Total Equity

Rs.

Rs.

Rs.

Balance as at 01st April 2023

1,174,365,278

558,865,571

1,733,230,849

Net Profit for the Period

-

457,024,659

457,024,659

Dividend

-

(1,680,996,895)

(1,680,996,895)

Balance as at 31st March 2024

1,174,365,278

-671,446,716

502,918,562

Balance as at 01st April 2024

1,174,365,278

388,735,215

1,563,100,493

Net Profit for the Period

-

1,022,921,883

1,022,921,883

Dividend

-

(560,332,298)

(560,332,298)

Balance as at 31st March 2025

1,174,365,278

842,895,543

2,017,260,821

‌Notes to the Interim Financial Statements

  1. The above figures are provisional & subject to audit unless otherwise stated.

  2. The interim financial statements of the Group and the Company for the twelve months ended 31stMarch 2025 were authorised for issue by the Board of Directors on 22ndMay 2025.

  3. The financial statements for the period ended 31stMarch 2025, includes "the Company" referring to Vallibel Power Erathna PLC as the Holding Company and "the Subsidiary" referring to Country Energy (Private) Limited whose accounts have been consolidated therein.

  4. The Interim Financial Statements have been prepared in accordance with the accounting policies set out in the Annual report for the year ended 31stMarch 2024 and comply with the Sri Lanka Accounting Standards (SLFRS/LKAS). These Interim Financial Statements should be read in conjunction with the annual financial statements for the year ended 31stMarch 2024. They also provide the information required by the Colombo Stock Exchange and LKAS 34.

  5. The number of shares representing the stated capital is 747,109,731.

  6. The Company has paid Seventy Five Cents (Rs. 0.75) per share as an Interim Dividend for the year ended 31st March 2025 in 25thSeptember 2024.

  7. The Group had no significant contingent liabilities outstanding as at the reporting date.

  8. On 5 February 2025, the Company signed an Offer Letter with Commercial Bank of Ceylon PLC for a loan facility of Rs.1,372 million to finance its ongoing solar power project. Subsequent to the reporting date, both the land acquired during the year (valued at Rs.154,369,271/-) and the project approvals obtained for the new solar project were mortgaged to the bank as securities for this facility on 02 May 2025. As this event occurred after the reporting date and does not reflect conditions that existed as at 31 March 2025, it has not been adjusted in the financial statements.

    Except the above and transaction mentioned in Note 11.4, no other circumstances have arisen since the reporting date, which would require adjustments to or disclosure in the Financial Statements.

  9. Operating Segment Information

    For the Twelve months ended 31stMarch 2025

    Erathna MHPP

    Denawaka Ganga MHPP

    Kiriwaneliya MHPP

    Group Adjustments

    Group

    Power

    Generation

    kWh

    42,005,555

    26,712,280

    14,147,407

    -

    82,865,242

    Revenue

    Rs.

    337,542,754

    682,313,085

    356,198,831

    -

    1,376,054,670

    Gross Profit

    Rs.

    272,660,217

    613,954,127

    313,726,399

    (8,890,000)

    1,191,450,743

    Profit After Tax

    Rs.

    1,022,921,883

    668,764,585

    353,210,790

    (935,066,976)

    1,109,830,282

    Total Assets

    Rs.

    2,289,766,780

    1,068,979,613

    683,000,287

    (902,525,244)

    3,139,221,436

    Total Liabilities

    Rs.

    272,505,959

    189,622,712

    168,699,779

    (97,152,375)

    533,676,075

    9. Operating Segment Information (Contd/-) For the Twelve months ended 31stMarch 2024

    Erathna MHPP

    Denawaka Ganga MHPP

    Kiriwaneliya MHPP

    Group Adjustments

    Group

    Power

    Generation

    kWh

    41,518,459

    28,886,376

    14,826,238

    -

    85,231,073

    Revenue

    Rs.

    323,912,381

    771,192,246

    380,144,216

    -

    1,475,248,843

    Gross Profit

    Rs.

    262,990,979

    707,490,673

    337,866,235

    (8,890,000)

    1,299,457,887

    Profit After Tax

    Rs.

    1,517,206,590

    586,604,996

    282,343,420

    (1,604,404,958)

    781,750,048

    Total Assets

    Rs.

    1,862,045,182

    1,217,275,985

    726,233,648

    (892,731,280)

    2,912,823,535

    Total Liabilities

    Rs.

    298,944,688

    278,819,931

    226,625,493

    (96,248,406)

    708,141,706

  10. The age analysis of Trade Receivables which is due from Ceylon Electricity Board (CEB) as at 31stMarch 2025.

    Company

    Group

    As at

    31.03.2025

    31.03.2024

    (Audited)

    31.03.2025

    31.03.2024

    (Audited)

    Rs.

    Rs.

    Rs.

    Rs.

    Below 30 days

    8,877,684

    2,557,981

    48,973,644

    28,458,972

    30 - 60 days

    3,268,110

    -

    21,962,635

    48,717,601

    60 - 180 days

    -

    -

    -

    -

    Over 180 days

    -

    -

    -

    -

    Total

    12,145,794

    2,557,981

    70,936,279

    77,176,573

    For the Period Ended

    31-03-2025

    Rs.

    31-03-2024

    Rs.

    11.1

    11.2

    Key Management Personal (KMP)

    Directors Remuneration

    (5,954,014)

    (5,027,049

    Key Management Compensation

    (16,484,024)

    (13,343,154)

    Close Family Members of KMP

    Nil

    Nil

    Country Energy (Pvt) Ltd - Subsidiary

    Net operating expenses incurred on behalf of the Subsidiary

    (44,039,091)

    (34,665,845)

    Reimbursement of operating expenses by the Subsidiary

    43,135,128

    39,509,793

  11. Related Party Transactions with the Company

)

  1. Related Party Transactions with the Company (Contd/-)

    1. Other Related companies

      1. Alternate Power Systems (Pvt) Ltd (APSL)

        Period Ended

        31-03-2025

        Rs.

        31-03-2024

        Rs.

        Net operating expenses incurred on behalf of APSL

        (29,064,959)

        (22,348,954)

        Reimbursement of operating expenses by APSL

        27,894,993

        22,475474

        11.3.2 Vallibel Finance PLC

        Investments in Fixed Deposit

        (244,105,122)

        (35,087,335)

        Withdrawal of Fixed Deposit

        163,965,766

        37,212,319

        FD Interest Recieved

        3,849,578

        91,756

        11.3.3 Hayleys PLC

        Payment for rent and services

        (5,868,399)

        (6,300,063)

    2. Non-Reccurent Related Party transactions

      During the year, the Company entered into an Engineering, Procurement, and Construction (EPC) contract valued at Rs. 1,667,919,441/- with Hayleys Fentons Ltd, a related party, for the development of a ground-mounted solar PV project. This was classified as a Non-Recurrent Related Party Transaction under Rule 9.14.6(1)A(i)(a) of the Listing Rules of the Colombo Stock Exchange, as the transaction value exceeded one-third of the Company's total assets according to the Audited Financial Statements for the financial year 2023/24. It was also considered a Major Transaction under Section 185(1)(a) of the Companies Act No. 07 of 2007, as it resulted in the Company incurring obligations and/or liabilities exceeding half the value of its total assets.

      The transaction was approved by shareholders through a Special Resolution at the Extraordinary General Meeting (EGM) held on December 31, 2024, in compliance with the Listing Rules and the Companies Act. However, no non-recurrent related party transactions occurred during the financial year ended 31 March 2025, as the payment obligation related to this EPC contract had not arisen as of that date.

      However, after the reporting date company has paid an advance payment of Rs. 313,421,936/- on 15thMay 2025 for above EPC contract.

  2. Share Information

  1. The public shareholding percentage as at 31stMarch 2025 was 40.517%, comprising of 7,085 shareholders.

  2. The Float Adjusted Market Capitalization as at 31stMarch 2025 is Rs. 3,904,915,733/-. The Company complies with option 4 of the Listing Rules 7.13.1 (i) (a).

  3. Market price per share

    For the period ended

    31-03-2025

    Rs.

    31-03-2024

    Rs.

    Market Price - Highest

    14.50

    9.30

    Market Price - Lowest

    11.50

    7.00

    Market Price - Last Traded

    13.10

    7.50

  4. Directors' shareholding as at 31stMarch 2025

Director No. of Shares

Mr. S H Amarasekera 30

Mr. P K Sumanasekera 150,000

Mr. H Somashantha 15,000

Ms. Y Bhaskaran Nil

Ms. Devika Weerasinghe* Nil

Mr. Dinesh Mendis* Nil

Mr. Gamini Gunaratne* Nil

*Appointed to the Board w.e.f. 1stJanuary 2025

12. Share Information (Contd/-)

12.5 Major Shareholders as at 31stMarch 2025

Shareholder

No. of Shares

Percentage (%)

1. Vallibel Power Limited

299,425,830

40.078

2. Mr. K.D.D. Perera

144,812,225

19.383

3. Sri Lanka Insurance Corporation Ltd-Life Fund

28,994,243

3.881

4. Mr K.D.H. Perera

18,750,000

2.510

5. Mr K.D.A. Perera

18,750,000

2.510

6. Sri Lanka Insurance Corporation Ltd-General Fund

16,568,928

2.218

7. Mackenzie Capital Ltd

12,050,000

1.613

8. Perera And Sons Bakers Pvt Limited

10,000,000

1.338

9. DFCC Bank Plc A/C 1

10,000,000

1.338

10. Ms K.D.C. Samanthi

9,375,000

1.255

11. Mr. P.P. Subasinghe

8,628,799

1.155

12. Employees Trust Fund Board

7,557,262

1.012

13. N P Capital Ltd

6,000,000

0.803

14. Mr. M.F. Hashim

5,171,000

0.692

15. Mr. S.M. Jayasooriya

5,165,194

0.691

16. EST.Of Lat K.C. Vignarajah

3,542,275

0.474

17. Dr. S.P. Jayawardena

3,334,129

0.446

18. Mr. D.D. Gunaratne

3,300,000

0.442

19. Mr. B.C. Tay

3,000,000

0.402

20. Sampath Bank PLC/Dr.Mayuramana Dewolage

2,691,239

0.360

21. Mr. D.D.K. Rajapaksa

2,239,658

0.300

‌Corporate Information

Name of Company

Vallibel Power Erathna PLC

Legal Form

A Public quoted company with limited liability incorporated under the Provisions of the Companies Act, No. 07 of 2007.

Date of Incorporation

07th November 2001

Company Registration Number

P.Q. 103

Nature of the Business

Generate and Supply Electric Power to the National Grid.

Board of Directors

Mr. S H Amarasekera - Chairman Mr. P K Sumanasekera

Mr. H Somashantha Ms. Y Bhaskaran

Ms. Devika Weerasinghe* Mr. Dinesh Mendis*

Mr. Gamini Gunaratne*

*Appointed w.e.f. 01stJanuary 2025

Registered Office

No. 25, Foster Lane, Colombo 10

Telephone: 011 2381111

Fax: 011 2381115

E-mail: energy@vallibel.com

Web Site: https://www.vallibel-hydro.com

Subsidiary Company

Country Energy (Pvt) Ltd. (unquoted)

Company Secretaries

P W Corporate Secretarial (Pvt) Limited No.3/17, Kynsey Road,

Colombo 08.

Telephone:011- 4640360

Fax :011- 4740588

E-mail :pwcs@pwcs.lk

Auditors

Deloitte Partners

P. O. Box 918

100, Braybrooke Place,

Colombo 2

Telephone : 011 771 9700

Fax : 011 230 3197

Web site : https://www.deloitte.com

Bankers

Commercial Bank of Ceylon PLC Pan Asia Banking Corporation PLC Hatton National Bank PLC

Page 10

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