CAPITAL ALLIANCE PLC CAPITAL ALLIANCE PLC
INTERIM FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST MARCH 2022
Capital Alliance PLC
Financial Results (unaudited) for the Year ended 31st March 2022
The Company closed the year ended 31st March 2022 with a post-tax loss of Rs. 173 Mn, a notable drop compared to 966 Mn in the corresponding year mainly due to upward movement in interest rates during the year.
Statement of Profit or Loss and Other Comprehensive Income
Net interest income for the year decreased by 39% to LKR 224 Mn compared to the corresponding period.
Trading activities (including remeasurement) has recorded a net loss of Rs.219 Mn compared to net gain from trading of Rs. 1,213 for the Year ended 31 March 21 mainly due to the upward movement in interest rates during the period. Gain/(loss) from trading activities consists of Rs.275 Mn net loss on Govt. Securities and 56 Mn gain on Quoted Shares.
Total Operating Expenses decreased 30% from Rs. 300 Mn to Rs.210 Mn
Statement of Financial Position
The Company reported a significant decline in the Total Assets by 29% to 8.2 Bn since company has reduced its exposure to Government Securities in view of increase in interest rates.
Total Liabilities of the Company also declined by 37% to 5.5 Bn mainly due to the reduction in Securities Sold Under Repurchase Agreements.
Key Financial Ratios and Indicators
Capital Alliance Limited has recorded Risk Weighted Capital Adequacy Ratio of 310% (Minimum 10%) as at 31st March 2022.
The Company's Earnings/(loss) per Share (EPS) for the year reduced to Rs. (0.58) from Rs 3.35 in the comparable period. Company recorded a Return (Before Tax) on Average Assets (ROA) of -2.1% and Return on Equity (ROE) of -6.4% for the period. The Company's Net Assets Value per share as at 31st March 2022 was Rs. 8.09 compared to Rs.9.45 as at 31st March 2021.
1
CAPITAL ALLIANCE PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE
QUARTER ENDED 31-Mar-22 31-Mar-21
Note
Rs. Rs.
(Unaudited) (Unudited)
YEAR ENDED 31-Mar-22 31-Mar-21
Rs. Rs.
(Unaudited) (Audited)
Interest Income
2 126,697,230 160,278,770
508,106,928 1,075,181,078
Interest Expenses
3 (63,692,554) (105,598,007)
(284,028,315) (707,137,564)
Net Interest Income
63,004,676 54,680,763
224,078,613 368,043,514
Net Gain/(Loss) from Trading
4.1 9,989,346
48,773,299
(205,012,714) 1,345,009,255
Direct Expenses
(1,639,096)
(3,541,153)
(6,680,015) (16,433,846)
Other Income
258,569
1,242,231
7,673,143 5,345,044
Net Gain/(Loss) from remeasurement of Financial Assets at FVTPL
4.2 (39,241,890)
(52,669,357)
(13,903,330)
(132,025,344)
Net Operating Income
Operating Expenses
Personnel Expenses
32,371,605
48,485,783
6,155,697
1,569,938,623
(27,113,929)
(25,813,028)
(109,427,414) (202,937,869)
Depreciation and Amortisation
(2,014,162)
(2,237,246)
(8,074,503) (9,404,922)
Other Expenses
(22,050,568)
(49,560,288)
(92,750,015) (87,369,677)
Profit/(Loss) Before Tax
(18,807,054)
(29,124,779)
(204,096,235) 1,270,226,155
Income Tax Expenses/(Reversal)
5
(415,185)
(1,699,768) 30,680,087
(303,745,017)
Profit/(Loss) for the period
Other Comprehensive Income/(Loss)
Items that will never be reclassified to profit or loss Actuarial Gain/ (Loss) on Retirement Benefit Obligation Deferred Tax on Actuarial Gain/(loss) on Retirement Benefit Obligation
(19,222,239)
(30,824,547) (173,416,148)
4,839,309
(4,640,276) 4,839,309
966,481,138
(4,640,276)
(677,503)
1,113,666
(677,503)
1,113,666
Items that are or may be reclassified to profit or loss
Other Comprehensive Income/(Loss) for the period
- 4,161,806
-
-
(3,526,610) 4,161,806
-
(3,526,610)
Total Comprehensive Income/(Loss) for the period
(15,060,433)
(34,351,157) (169,254,342)
962,954,528
Basic/Diluted Earnings/(Loss) per Share (Rs.)
6
(0.06)
(0.11)
(0.58)
3.35
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CAPITAL ALLIANCE PLC STATEMENT OF FINANCIAL POSITION
AS AT | 31-Mar-22 | 31-Mar-21 |
Rs. | Rs. | |
(Unaudited) | (Audited) | |
ASSETS | ||
Cash and Cash Equivalents | 14,615,973 | 10,472,382 |
Financial Assets measured at Amortised Cost | 40,167,893 | 47,184,373 |
Financial Assets measured at FVTPL | 8,075,894,286 | 11,464,111,249 |
Amount due from Related Companies | - | 3,437,023 |
Financial Assets measured at FVOCI | 1,000,000 | 1,000,000 |
Other Receivables | 26,167,288 | 10,097,759 |
Deferred Tax Asset | 39,404,110 | 9,401,526 |
Intangible Assets | 932,102 | 2,541,625 |
Right-of-use Asset | 10,778,390 | 13,413,645 |
Equipment | 3,595,285 | 2,992,394 |
Total Assets | 8,212,555,327 | 11,564,651,976 |
LIABILITIES AND EQUITY | ||
Liabilities | ||
Financial Liabilities at Amortised Cost | 5,465,983,373 | 8,461,113,826 |
Amounts due to Related Companies | 8,360,293 | 86,857,147 |
Other Payables | 8,320,770 | 78,590,712 |
Lease Liability | 11,772,683 | 13,550,810 |
Retirement Benefit Obligation | 38,506,345 | 40,783,555 |
Income Tax Payable | 13,897,222 | 160,308,628 |
Total Liabilities | 5,546,840,686 | 8,841,204,678 |
EQUITY | ||
Stated Capital | 723,348,421 | 311,576,061 |
Special Risk Reserve | 627,457,402 | 644,799,017 |
Retained Earnings | 1,314,908,818 | 1,767,072,220 |
Total Equity | 2,665,714,641 | 2,723,447,298 |
Total Liabilities and Equity | 8,212,555,327 | 11,564,651,976 |
NAPS (Rs.) | 8.09 | 9.45 |
These financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007.
(Sgd.)
Mr. Yasantha Kumara Financial ControllerThe Board of Directors is responsible for the preparation and presentation of these financial statements.
(Sgd.) | (Sgd.) |
Mr. W A T Fernando | Mr. C S R S Anthony |
Director | Director |
25th April 2022 | |
Colombo |
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CAPITAL ALLIANCE PLC STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31ST MARCH 2022
Stated Capital | Special Risk | Retained | Total | |
Reserve | Earnings | |||
Rs. | Rs. | Rs. | Rs. | |
Balance as at 01st April 2020 | 311,576,061 | 548,150,903 | 1,150,574,363 | 2,010,301,327 |
Profit for the Year | - | - | 966,481,138 | 966,481,138 |
Other Comprehensive Income for the Year | - | - | (3,526,610) | (3,526,610) |
Total Comprehensive Income | - | - | 962,954,528 | 962,954,528 |
Dividend Paid | - | - | (249,808,557) | (249,808,557) |
Transferred To the Special Risk Reserve | - | 96,648,114 | (96,648,114) | - |
Balance as at 31st March 2021 | 311,576,061 | 644,799,017 | 1,767,072,220 | 2,723,447,298 |
Balance as at 01st April 2021 | 311,576,061 | 644,799,017 | 1,767,072,220 | 2,723,447,298 |
Profit/(Loss) for the Year | - | - | (173,416,148) | (173,416,148) |
Other Comprehensive Income/(Expense) for the Year | - | - | 4,161,806 | 4,161,806 |
Total Comprehensive Income/(Expense) | - | - | (169,254,342) | (169,254,342) |
Dividend Paid | - | - | (300,250,675) | (300,250,675) |
Transferred To the Special Risk Reserve | - | (17,341,615) | 17,341,615 | - |
Ordinary Share Capital Issued-IPO | 411,772,360 | - | 411,772,360 | |
Balance as at 31st March 2022 | 723,348,421 | 627,457,402 | 1,314,908,818 | 2,665,714,641 |
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Capital Alliance Ltd. published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 April 2022 10:48:06 UTC.
