WASKADUWA BEACH RESORT PLC
Interim Financial Statements For the Quarter ended 31 Dec 2025
STATEMENT OF COMPREHENSIVE INCOME
Quarter ended 31 December Nine Months ended 31 December Year Ended
Revenue from contract with customers Cost of sales | 2025 Unaudited Rs. 328,082,779 (114,316,546) | 2024 Unaudited Rs. 337,885,446 (115,755,637) | Variance % (3%) (1%) | 2025 Unaudited Rs. 837,613,292 (303,796,205) | 2024 Unaudited Rs. 806,444,954 (296,889,926) | Variance % 4% 2% | 31 March 2025 Audited Rs. 1,220,147,112 (418,093,047) |
Gross profit | 213,766,233 | 222,129,809 | (4%) | 533,817,087 | 509,555,028 | 5% | 802,054,065 |
Other income and gains | 661,420 | 311,148 | 113% | 2,106,080 | 773,539 | 172% | 2,808,820 |
Administrative expenses | (100,168,250) | (90,067,492) | 11% | (273,513,174) | (245,334,698) | 11% | (346,752,604) |
Operating expenses | (94,928,331) | (86,426,518) | 10% | (273,541,275) | (264,108,205) | 4% | (348,872,293) |
Selling and marketing expenses | (3,970,388) | (9,066,232) | (56%) | (17,277,085) | (29,825,136) | (42%) | (37,190,613) |
Operating loss | 15,360,684 | 36,880,715 | (58%) | (28,408,367) | (28,939,472) | (2%) | 72,047,375 |
Finance income | - | 569,629 | (100%) | 916,547 | 1,744,026 | (47%) | 2,336,074 |
Finance expenses | (47,598,015) | (58,963,133) | (19%) | (154,013,824) | (185,038,091) | (17%) | (244,085,413) |
Loss before tax | (32,237,331) | (21,512,789) | 50% | (181,505,644) | (212,233,537) | (14%) | (169,701,964) |
Income tax (expenses)/reversal | (0) | - | 0% | 205,866 | (182,441) | (213%) | 521,666 |
Net loss for the period | (32,237,331) | (21,512,789) | 50% | (181,299,778) | (212,415,978) | (15%) | (169,180,298) |
Other comprehensive income/ (loss) | |||||||
Other comprehensive income (loss) not to be reclassified to profit or loss in subsequent periods: | |||||||
Revaluation gain on land & building | - | - | - | - | 111,451,637 | ||
Deferred tax effect on revaluation of land and building | - | - | - | - | (33,435,491) | ||
Actuarial loss on defined benefit plan | - | - | - | - | 700,313 | ||
Deferred tax effect on actuarial gain | - | - | - | - | (210,094) | ||
Other comprehensive income for the year, net of tax | - | - | 78,506,365 | ||||
Total comprehensive loss for the year, net of tax | (32,237,331) | (21,512,789) | (181,299,778) | (212,415,978) | (90,673,933) | ||
Basic/diluted loss per share | (0.03) | (0.02) | (0.19) | (0.23) | (0.19) | ||
WASKADUWA BEACH RESORT PLC |
STATEMENT OF FINANCIAL POSITION |
As at ASSETS Non current assets Property, plant and equipment Intangible assets | 31 Dec 2025 | 31 Mar 2025 Audited Rs. 5,500,436,561 - | |
Unaudited | |||
Rs. 5,415,068,386 - | |||
5,415,068,386 | 5,500,436,561 | ||
Current assets Inventories Trade and other receivables Advance and prepayments Tax receivables Cash and cash equivalents | 41,425,177 54,027,738 96,207,494 421,944 52,434,536 | 36,662,290 171,329,170 22,348,684 304,122 59,859,720 | |
244,516,889 | 290,503,986 | ||
Total assets | 5,659,585,275 | 5,790,940,547 | |
EQUITY AND LIABILITIES Capital and reserves Stated capital Revaluation reserve Accumulated losses | 3,579,991,156 2,110,253,604 (3,654,680,087) | 3,579,991,156 2,110,253,604 (3,473,380,309) | |
Total equity | 2,035,564,673 | 2,216,864,451 | |
Non-current liabilities Interest bearing loans and borrowings Other Payable - Related Parties Deferred tax liability Retirement benefit obligation | 1,710,720,001 411,186,983 902,346,038 11,604,691 | 1,446,954,070 379,186,983 902,551,904 10,693,750 | |
3,035,857,713 | 2,739,386,707 | ||
Current liabilities Trade and other payables Interest bearing loans and borrowings Contract liability | 492,610,135 93,474,752 2,078,001 | 451,568,750 377,841,511 5,279,128 | |
588,162,888 | 834,689,389 | ||
Total equity and liabilities | 5,659,585,275 | 5,790,940,547 |
……..…………
aushika Ranasin
………..…………………
P C B Talwatte
These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.
… ……… |
K ghe |
Group Head of Finance |
The Board of Directors is responsible for the preparation and presentation of these Financial Statements. |
Signed for and on behalf of the Board by, |
………..………………… | |
P L P Withana | |
Director / Group CEO | Director |
15 February 2026 |
Colombo |
WASKADUWA BEACH RESORT PLC |
STATEMENT OF CHANGES IN EQUITY |
Stated Capital |
Rs. |
Revaluation Reserve |
Rs. |
Retained Earnings |
Rs. |
Total |
Rs. |
Balance as at 01 April 2024 | 2,901,702,751 |
2,032,237,458 (3,304,690,230) 1,629,249,978
Loss for the period | - |
- (212,415,978) (212,415,978)
Issue of Shares | 678,288,405 |
- - 678,288,405
Balance as at 31 December 2024 | 3,579,991,156 2,032,237,458 (3,517,106,208) 2,095,122,403 |
Balance as at 01 April 2025 | 3,579,991,156 |
2,110,253,604 (3,473,380,309) 2,216,864,451
Loss for the period | - |
- (181,299,778) (181,299,778)
-
Balance as at 31 December 2025 | 3,579,991,156 2,110,253,604 (3,654,680,087) 2,035,564,673 |
Note |
The above figures are not audited |
STATEMENT OF CASH FLOW
Period ended Period ended31 Dec 2025 | 31 Dec 2024 | |
Unaudited | Unaudited | |
Rs. | Rs. | |
Cash flows from / (used in) operating activities | ||
Net loss before income tax expenses | (181,505,644) | (212,233,537) |
Adjustments for : | ||
Depreciation | 107,981,709 | 113,879,216 |
Gain on disposal of Assets | - | 2,054,014 |
Provision for retirement benefit obligation | 1,794,158 | - |
Impairment of trade receivables | 112,965 | - |
Finance income | (916,547) | (1,744,026) |
Finance cost | 154,013,824 | 185,038,091 |
Operating profit/(loss) before working capital changes | 81,480,465 | 86,993,758 |
Decrease / (Increase) in trade & other receivables | 117,070,645 | 32,624,953 |
Decrease / (Increase) in inventories | (4,762,887) | (11,335) |
Decrease / (Increase) in other non-financial assets | (73,858,810) | 2,356,275 |
Increase / (Decrease) in contract liabilities | (3,201,127) | 112,045,329 |
Increase / (Decrease) in trade & other payables | 73,041,385 | (153,941,601) |
Cash generated from/(used in) operations | 189,769,671 | 80,067,379 |
Gratuity Paid | (883,218) | (1,897,073) |
Finance cost paid | (127,264,324) | (156,337,617) |
Net cash generated from/(used in) operating activities | 61,622,129 | (78,167,311) |
Cash flows from investing activities | ||
Acquisition of property, plant & equipment | (22,613,532) | (9,957,781) |
Finance income received | 916,547 | 1,882,574 |
Proceed from sale of Dealing Securities | - | 116,473,810 |
Net cash from/(used in) investing activities | (21,696,985) | 108,398,603 |
Cash flows from financing activities | ||
Proceeds From Interest Bearing Loans & Borrowings | 163,500,000 | (454,682,187) |
Principal payments interest bearing loans & borrowings | (70,324,070) | - |
Net financed from related parties | (26,749,500) | 442,670,605 |
Net cash from financing activities | 66,426,430 | (12,011,582) |
Net increase/(decrease) in cash and cash equivalents | 106,351,574 | 18,219,711 |
Cash & cash equivalents at the beginning of the period | (79,391,791) | (96,451,447) |
Cash and cash equivalents at the end of the period (Note A) | 26,959,784 | (78,231,738) |
Note A | ||
Analysis of cash and cash equivalents | ||
Cash in hand and cash at bank | 52,434,536 | 61,969,714 |
Bank overdraft | (25,474,752) | (140,201,452) |
Total cash and cash equivalents | 26,959,784 | (78,231,738) |
WASKADUWA BEACH RESORT PLC |
NOTES TO THE INTERIM FINANCIAL STATEMENTS |
1 | Corporate Information |
Waskaduwa Beach Resort PLC, is a public limited liability company incorporated and domiciled in Sri Lanka and whose shares are listed on the Colombo Stock Exchange and publicly traded.
2 | Approval of Financial Statements |
The interim condensed financial statements of the company for the six months ended 31st December 2025 were authorised for issue by the Board of Directors on 15 February 2026.
3 | Basis of preparation and Company's accounting policies |
The interim condensed financial statements have been prepared in compliance with Sri Lanka Accounting Standard - LKAS 34
- Interim Financial Reporting and also provide the information required by the Colombo Stock Exchange. These interim condensed financial statements are unaudited and should be read in conjunction with the annual financial statements for the year ended 31 March 2025.
4 | Events Subsequent to the Reporting Date |
There have been no events subsequent to the reporting date, which require disclosure in the interim condensed financial statements.
5 | 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 year ended 31 March 2025.
6 | Comparative Figures |
Where necessary, comparative figures have been re-stated to conform with SLFRS/LKAS.
WASKADUWA BEACH RESORT PLC |
NOTES TO THE INTERIM FINANCIAL STATEMENTS |
7 | Share information |
7.1 | Basic loss per share |
Quarter ended 31 December | |
2025 | 2024 |
Rs. (0.03) | Rs. (0.02) |
Basic loss per share
7.2 | Net assets per share |
31 Dec 2025
Rs.
2.17
31 Dec 2024 |
Rs. |
Net assets per share have been calculated, for all periods, based on the number of shares in issue as at the reporting date. As at
7.3 | Market Price Per Share |
Net assets per share 2.24
2025 | 2024 | ||
Date | Price (Rs.) | Date | Price (Rs.) |
28.11.2025 | 2.30 | 26.12.2024 | 2.50 |
29.12.2025 | 1.90 | 19.12.2024 | 1.90 |
31.12.2025 | 2.00 | 31.12.2024 | 2.10 |
For the quarter ended 30th September
Highest |
Lowest |
Last Traded |
7.4 | Stated Capital |
Stated capital is represented by the number of shares in issue as given below:
31 Dec 2025 | 31 Mar 2025 | |
Number | Rs. | Number Rs. |
936,683,988 | 3,579,991,156 | 559,857,096 2,901,702,750 |
- | - | 376,826,892 678,288,406 |
936,683,988 | 3,579,991,156 | 936,683,988 3,579,991,156 |
As at
As at the beginning of the year |
Issue of shares |
Issued and fully-paid - ordinary shares |
7.5 | The percentage of the shares held by public as at 31 December 2025 was 48.9387% (As at 31 Decembber 2024 was 44.02%) comprising 5,349 shareholders (As at 31 December 2024 was 4,660 shareholders). |
The Float Adjusted Market Capitalisation of the Company as at 31 December 2025 is Rs. 916,801,446 and the Company falls under Option 2 of Rule 7.13.1(i) (b) of the Listing Rules of the Colombo Stock Exchange.
WASKADUWA BEACH RESORT PLC |
NOTES TO THE INTERIM FINANCIAL STATEMENTS |
7.6 | The number of shares held by the Board of Directors and CEO are as follows, |
Director Name
Director / Chief Executive Officer
Mr. P.C.B Talwatte
-
As at 31 Dec 2025
As at 31 Dec 2024
Ms.V.S. F. Amunugama |
Mr. S. A. Ameresekere |
Mr. R. Seneviratne |
Mr. J.M.B Pilimatalawwe |
Mr. S.M.A.D.S. Sugathapala |
Mr. P.N.Mahawatte |
Mr. P.L.P.Withana |
Mr. S.P.S.Ranatunga |
- |
- |
- |
- |
70,192 |
- |
- |
- |
- |
- |
- |
- |
70,192 |
- |
- |
- |
-
7.7 | Twenty Largest Ordinary Shareholders of the Company as follows; |
No. | Shareholder | As at 31 Dec 2025 Rs. % |
1 National Development Bank PLC/ Hikkaduwa Beach Resort PLC | 328,054,300 35.02% | |
2 Hikkaduwa Beach Resort PLC | 150,158,773 16.03% | |
3 Global Stanford Campus (Pvt) Ltd | 10,050,000 1.07% | |
4 People S Leasing And Finance PLC/ U.L.B.Ariyaratna | 10,000,000 1.07% | |
5 Mr. B.Y. Edirisuriya & Mrs. R.D.Edirisuriya, Mr. P.M.Weerasuriya | 8,242,461 0.88% | |
6 People'S Leasing And Finance PLC/ L.P.Hapangama | 8,000,000 0.85% | |
7 Mr. M.T. Rajab Khan | 7,192,131 0.77% | |
8 People'S Leasing & Finance PLC/L.H.L.M.P.Haradasa | 7,000,000 0.75% | |
9 People'S Leasing & Finance PLC/L.H.L.Noris De Silva & Son (Pvt) Ltd | 6,250,000 0.67% | |
10 Mr. K. Mathivanan | 6,000,000 0.64% | |
11 Mr. K.K.D. Senanayake | 5,936,995 0.63% | |
12 Mr. K.R. Pasqual | 5,935,864 0.63% | |
13 Mr. J.A.D.K.R. Jayasuriya | 5,027,600 0.54% | |
14 Mr. K. Suriarachchi | 5,000,000 0.53% | |
15 Mr. S.A. Thalangama | 5,000,000 0.53% | |
16 Mr. R.E. Rambukwelle | 4,899,500 0.52% | |
17 Merchant Bank Of Sri Lanka & Finance PLC 01 | 4,500,000 0.48% | |
18 Mr. L.H.L.M.P. Haradasa | 4,200,000 0.45% | |
19 Emarketingeye (Pvt) Ltd | 4,029,439 0.43% | |
20 Merchant Bank Of Sri Lanka & Finance PLC/K.K.Wickramasinghe | 4,000,000 0.43% | |
Sub Total | 589,477,063 62.93% | |
Others | 347,206,925 37.07% | |
Total | 936,683,988 100.00% | |
NAME OF COMPANY |
Waskaduwa Beach Resort PLC |
NOMINATION COMMITTEE |
Mr. P.N. Mahawatte (Chairman) |
Mr. S.P.S. Ranatunga |
Mr. J.M.B. Pilimatalawwe |
LEGAL FORM |
Public Quoted Company with limited liability Incorporated in Sri Lanka. |
RELATED PARTY TRANSACTIONS REVIEW COMMITTEE |
Mr. P.L.P. Withana (Chairman) |
Mr. S.P.S. Ranatunga |
Mr. S.A. Ameresekere |
STOCK EXCHANGE LISTING |
The issued ordinary shares of the Company are listed on the Diri Savi Board of the Colombo Stock Exchange of Sri Lanka. |
AUDITORS |
Ernst & Young |
Chartered Accountants |
Rotunda Towers, 109, Galle Road, |
Colombo 03. |
BANKERS |
Sampath Bank PLC |
Commercial Bank of Ceylon PLC |
Pan Asia Banking Corporation PLC |
People's Bank PLC, |
Seylan Bank PLC |
CHIEF EXECUTIVE OFFICER |
Mr. P. C. B. Talwatte |
COMPANY REGISTRATION NO. |
PB 4242 PQ |
COMPANY SECRETARIES |
P W Corporate Secretarial (Pvt) Ltd. |
No.3/17, Kynsey Road, |
Colombo 08. |
REGISTERED OFFICE |
No: 56/1, Kynsey Road, Colombo 08. |
Telephone : 0117 755 388 |
E-mail : direct@citrusleisure.com |
Website : https://www.citrusleisure.com |
COMPANY REGISTRARS |
Central Depository Systems (Pvt) Limited |
Ground Floor, M & M Center, |
341/5, Kotte Road, Rajagiriya. |
BOARD OF DIRECTORS |
Mr. S.P.S. Ranathunga (Chairman) |
Mr. P. C. B. Talwatte |
Ms.V.S.F. Amunugama |
Mr. S.A. Ameresekere |
Mr. R.G. Seneviratne |
Mr. J.M.B. Pilimatalawwe |
Mr. P.L.P. Withana |
Mr. S.M.A.D.S. Sugathapala |
Mr. P.N. Mahawatte |
AUDIT COMMITTEE |
Mr. P.L.P. Withana (Chairman) |
Mr. S.P.S. Ranatunga |
Mr. P.N. Mahawatte |
INVESTOR RELATIONS |
Please contact sector Head of Finance Ms. Kaushika Ranasinghe |
+94775700473 |
kaushika@citrusleisure.com |
REMUNERATION COMMITTEE |
Mr. P.N. Mahawatte (Chairman) |
Mr. P.L.P. Withana |
Mr. S.A. Ameresekere |