VALLIBEL FINANCE PLC INTERIM FINANCIAL STATEMENTS
For the nine months ended 31st December 2022
VALLIBEL FINANCE PLC
Statement of Financial Position
Amounts in Rupees '000
Company | ||
As at | As at | Change % |
31st December | 31st March | |
2022 | 2022 |
(Audited)
Group | ||
As at | As at | Change % |
31st December | 31st March | |
2022 | 2022 |
(Audited)
Assets
Cash and Cash Equivalents
Placements with Banks and Other Finance Companies Reverse Repurchase Agreements
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
1,428,407 | 877,638 | 62.8 | 1,433,997 | 900,930 | 59.2 |
3,468,706 | 4,167,388 | (16.8) | 3,468,706 | 4,167,388 | (16.8) |
- | 1,770,612 | (100.0) | - | 1,780,761 | (100.0) |
1,212,412 | 314,015 | 286.1 | 1,359,711 | 796,422 | 70.7 |
52,185,975 | 50,691,039 | 2.9 | 52,185,975 | 50,691,039 | 2.9 |
11,678,509 | 14,973,325 | (22.0) | 11,678,509 | 14,973,325 | (22.0) |
204 | 1,737,815 | (99.99) | 204 | 1,737,815 | (99.99) |
3,964,190 | 100,424 | 3,847.5 | 3,964,190 | 100,424 | 3,847.5 |
28,612 | 13,648 | 109.6 | 28,612 | 13,648 | 109.6 |
0 | 0 | - | - | - | - |
1,179,500 | 1,179,500 | - | - | - | - |
793,401 | 756,193 | 4.9 | 3,777,520 | 3,208,303 | 17.7 |
737,358 | 781,225 | (5.6) | 737,358 | 781,225 | (5.6) |
20,586 | 28,672 | (28.2) | 20,586 | 28,672 | (28.2) |
70,448 | 141,915 | (50.4) | 71,737 | 143,203 | (49.9) |
192,760 | 156,803 | 22.9 | 192,767 | 156,828 | 22.9 |
Total Assets | 76,961,068 | 77,690,211 | (0.9) | 78,919,872 | 79,479,983 | (0.7) |
Liabilities | ||||||
Bank Overdrafts | 849,618 | 1,062,547 | (20.0) | 849,618 | 1,062,547 | (20.0) |
Rental Received in Advance | 179,981 | 227,759 | (21.0) | 179,981 | 227,759 | (21.0) |
Financial Liabilities at Amortised Cost - Deposits due to Customers | 44,314,127 | 41,021,170 | 8.0 | 44,314,127 | 41,021,170 | 8.0 |
Financial Liabilities at Amortised Cost - Interest bearing Borrowings | 15,555,659 | 20,034,340 | (22.4) | 17,535,255 | 21,835,484 | (19.7) |
Subordinated Term Debts | 3,408,191 | 2,012,844 | 69.3 | 3,408,191 | 2,012,844 | 69.3 |
Lease Liabilities | 884,764 | 858,556 | 3.1 | 884,764 | 858,556 | 3.1 |
Current Tax Liabilities | 310,403 | 604,894 | (48.7) | 310,403 | 604,894 | (48.7) |
Deferred Tax Liabilities | 142,581 | 142,581 | - | 142,581 | 142,581 | - |
Other Liabilities | 629,446 | 989,545 | (36.4) | 631,899 | 990,488 | (36.2) |
Retirement Benefit Obligations | 139,820 | 80,825 | 73.0 | 139,820 | 80,825 | 73.0 |
Total Liabilities | 66,414,590 | 67,035,061 | (0.9) | 68,396,639 | 68,837,148 | (0.6) |
Equity | ||||||
Stated Capital | 1,325,918 | 1,325,918 | - | 1,325,918 | 1,325,918 | - |
Statutory Reserve Fund | 1,739,849 | 1,699,794 | 2.4 | 1,739,849 | 1,699,794 | 2.4 |
Other Reserves | 178,377 | (47,934) | 472.1 | 238,797 | 12,486 | 1,812.5 |
Retained Earnings | 7,302,334 | 7,677,372 | (4.9) | 7,218,669 | 7,604,637 | (5.1) |
Total Equity attributable to Equity holders of the Company | 10,546,478 | 10,655,150 | (1.0) | 10,523,233 | 10,642,835 | (1.1) |
Non Controlling Interest | - | - | - | - | - | - |
Total Equity | 10,546,478 | 10,655,150 | (1.0) | 10,523,233 | 10,642,835 | (1.1) |
Total Liabilities and Equity | 76,961,068 | 77,690,211 | (0.9) | 78,919,872 | 79,479,983 | (0.7) |
Net Assets Value Per Share (Rs.) | 44.79 | 45.25 | (1.0) | 44.69 | 45.20 | (1.1) |
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 |
15th February 2023
Colombo
Vallibel Finance PLC
Interim Financial Statements for the Period ended
31st December 2022
VALLIBEL FINANCE PLC
Statement of Profit or Loss and Other Comprehensive Income
Company | Group | Company | ||||||
For the nine months ended 31st December | For the nine months ended 31st December | For the quarter ended 31st December | ||||||
2022 | 2021 | Change % | 2022 | 2021 Change % | 2022 | 2021 Change % | ||
Amounts in Rupees '000
Group
For the quarter ended 31st December
20222021 Change %
Gross Income | 11,853,410 | 8,594,368 | 37.9 | 11,844,624 | 8,594,368 | 37.8 | 4,446,477 | 3,173,742 | 40.1 | 4,441,618 | 3,173,741 | 39.9 | |||
Interest Income | 11,077,633 | 7,161,349 | 54.7 | 11,077,633 | 7,161,349 | 54.7 | 4,207,510 | 2,612,657 | 61.0 | 4,207,510 | 2,612,657 | 61.0 | |||
Interest Expense | (7,829,664) | (2,962,009) | 164.3 | (7,829,664) | (2,962,009) | 164.3 | (3,092,914) | (1,109,274) | 178.8 | (3,092,914) | (1,109,273) | 178.8 | |||
Net Interest Income | 3,247,969 | 4,199,340 | (22.7) | 3,247,969 | 4,199,340 | (22.7) | 1,114,596 | 1,503,383 | (25.9) | 1,114,596 | 1,503,384 | (25.9) | |||
Fee and Commission Income | 365,724 | 421,426 | (13.2) | 364,224 | 421,426 | (13.6) | 123,422 | 180,994 | (31.8) | 121,922 | 180,994 | (32.6) | |||
Net Fee and Commission Income | 365,724 | 421,426 | (13.2) | 364,224 | 421,426 | (13.6) | 123,422 | 180,994 | (31.8) | 121,922 | 180,994 | (32.6) | |||
Net Gain / (Loss) from Trading | (290) | 541 | (153.5) | (290) | 541 | (153.5) | (201) | 277 | (172.7) | (201) | 277 | (172.7) | |||
Net (Loss) / Gain from other Financial Instruments at FVTPL | (31,911) | 18,530 | (272.2) | (31,911) | 18,530 | (272.2) | 2,112 | 4,566 | (53.7) | 2,112 | 4,566 | (53.7) | |||
Other Operating Income | 442,254 | 992,522 | (55.4) | 434,968 | 992,522 | (56.2) | 113,634 | 375,248 | (69.7) | 110,276 | 375,247 | (70.6) | |||
Total Operating Income | 4,023,746 | 5,632,359 | (28.6) | 4,014,960 | 5,632,359 | (28.7) | 1,353,563 | 2,064,468 | (34.4) | 1,348,705 | 2,064,468 | (34.7) | |||
Impairment Charges and Other Credit Losses on Financial Assets | (320,021) | (526,151) | (39.2) | (320,021) | (526,151) | (39.2) | (109,006) | (215,341) | (49.4) | (109,006) | (215,341) | (49.4) | |||
Net Operating Income | 3,703,725 | 5,106,208 | (27.5) | 3,694,939 | 5,106,208 | (27.6) | 1,244,557 | 1,849,127 | (32.7) | 1,239,699 | 1,849,127 | (33.0) | |||
Expenses | |||||||||||||||
Personnel Expenses | (1,192,797) | (1,018,379) | 17.1 | (1,192,797) | (1,018,576) | 17.1 | (371,953) | (359,743) | 3.4 | (371,953) | (359,939) | 3.3 | |||
Premises Equipment and Establishment Expenses | (209,570) | (156,141) | 34.2 | (209,570) | (156,141) | 34.2 | (71,442) | (55,720) | 28.2 | (71,442) | (55,720) | 28.2 | |||
Other Operating Expenses | (700,741) | (589,543) | 18.9 | (702,885) | (590,334) | 19.1 | (255,257) | (242,572) | 5.2 | (255,974) | (242,658) | 5.5 | |||
Operating Profit Before Taxes on Financial Services | 1,600,617 | 3,342,145 | (52.1) | 1,589,687 | 3,341,157 | (52.4) | 545,906 | 1,191,092 | (54.2) | 540,330 | 1,190,810 | (54.6) | |||
Taxes on Financial Services | (438,356) | (538,180) | (18.5) | (438,356) | (538,180) | (18.5) | (197,121) | (188,241) | 4.7 | (197,121) | (188,241) | 4.7 | |||
Profit Before Income Tax | 1,162,261 | 2,803,965 | (58.5) | 1,151,331 | 2,802,977 | (58.9) | 348,784 | 1,002,851 | (65.2) | 343,209 | 1,002,569 | (65.8) | |||
Income Tax Expense | (361,153) | (781,967) | (53.8) | (361,153) | (781,967) | (53.8) | (171,042) | (282,328) | (39.4) | (171,042) | (282,328) | (39.4) | |||
Profit for the Period | 801,108 | 2,021,998 | (60.4) | 790,178 | 2,021,010 | (60.9) | 177,743 | 720,523 | (75.3) | 172,167 | 720,241 | (76.1) | |||
Profit Attributable to : | |||||||||||||||
Equity holders of the Company | 801,108 | 2,021,998 | (60.4) | 790,178 | 2,021,010 | (60.9) | 177,742 | 720,523 | (75.3) | 172,167 | 720,241 | (76.1) | |||
Non Controlling Interest | - | - | - | - | - | - | - | - | - | - | - | - | |||
Profit for the Period | 801,108 | 2,021,998 | (60.4) | 790,178 | 2,021,010 | (60.9) | 177,742 | 720,523 | (75.3) | 172,167 | 720,241 | (76.1) | |||
Earnings Per Share (Annualised) - Rs. | 4.54 | 11.45 | (60.4) | 4.47 | 11.44 | (60.9) | 3.02 | 12.24 | (75.3) | 2.92 | 12.24 | (76.1) | |||
Other Comprehensive Income for the Period , Net of Tax | |||||||||||||||
Items that will never be reclassified to Profit or Loss | |||||||||||||||
Actuarial Gains /(Losses) on Remeasurement of Defined Benefit Liability , Net of Tax | - | - | - | - | - | - | - | - | - | - | - | - | |||
Net Actuarial Gains / (Losses) on Remeasurement of Defined Benefit Liability | - | - | - | - | - | - | - | - | - | - | - | - | |||
Revaluation of Land & Buildings , Net of Tax | - | - | - | - | - | - | - | - | - | - | - | - | |||
Net change in Revaluation of Land & Buildings | - | - | - | - | - | - | - | - | - | - | - | - | |||
Items that are or may be reclassified to Profit or Loss | |||||||||||||||
Net (Losses) / Gains on Investment in Financial Assets at Fair Value through Other Comprehensive Income | (539,710) | 3,365 | (16,139.6) | (539,710) | 3,365 | (16,139.6) | - | 3,365 | (100.0) | - | 3,365 | (100.0) | |||
Transfer of fair value losses o/a reclassification of debt instruments from fair value through other comprehensive income | 766,021 | - | 100.0 | 766,021 | - | 100.0 | - | - | - | - | - | - | |||
to amortised cost, net of tax | |||||||||||||||
Net Gains / (Losses) on Investment in Financial Assets at Fair Value through Other Comprehensive Income | 226,311 | 3,365 | 6,626 | 226,311 | 3,365 | 6,625.7 | - | 3,365 | (100) | - | 3,365 | (100.0) | |||
Other Comprehensive Income for the Period, Net of Tax | 226,311 | 3,365 | 6,626 | 226,311 | 3,365 | 100.0 | - | 3,365 | (100) | - | 3,365 | (100.0) | |||
Total Comprehensive Income for the Period | 1,027,419 | 2,025,363 | (49.3) | 1,016,489 | 2,024,375 | (49.8) | 177,743 | 723,888 | (75.4) | 172,167 | 723,606 | (76.2) | |||
Attributable to : | |||||||||||||||
Equity holders of the Company | 1,027,419 | 2,025,363 | (49.3) | 1,016,489 | 2,024,375 | (49.8) | 177,743 | 723,888 | (75.4) | 172,167 | 723,606 | (76.2) | |||
Non Controlling Interest | - | - | - | - | - | - | - | - | - | - | - | - | |||
Total Comprehensive Income for the Period | 1,027,419 | 2,025,363 | (49.3) | 1,016,489 | 2,024,375 | (49.8) | 177,743 | 723,888 | (75.4) | 172,167 | 723,606 | (76.2) | |||
Vallibel Finance PLC
Interim Financial Statements for the Period ended 31st December 2022
VALLIBEL FINANCE PLC
Statement of Changes in Equity - Company
Amounts in Rupees '000 | |||||||
Stated | Statutory Reserve | Revaluation | Fair Value Reserve | General | Retained | Total | |
Capital | Fund | Reserve | Reserve | Earnings | Equity | ||
Balance as at 01st April 2021 | 1,325,918 | 1,554,199 | 131,762 | - | 7,500 | 5,168,528 | 8,187,907 |
Total Comprehensive Income for the Period | |||||||
Profit for the Period | - | - | - | - | - | 2,021,998 | 2,021,998 |
Other Comprehensive Income, net of Tax | |||||||
Net Actuarial Gains / (Losses) on Remeasurement of Defined Benefit Liability | - | - | - | - | - | - | - |
Net Gains / (Losses) on Investment in Financial Assets at Fair Value through Other Comprehensive | |||||||
Income | - | - | - | 3,365 | - | - | 3,365 |
Net change in Revaluation of Land & Buildings | - | - | - | - | - | - | - |
Total Comprehensive Income for the Period | - | - | - | 3,365 | - | 2,021,998 | 2,025,363 |
Transactions with owners of the Company | |||||||
Contributions and distributions | |||||||
Dividends to equity holders | |||||||
Interim dividend paid for 2020/21 | - | - | - | - | - | (353,180) | (353,180) |
Statutory Reserve Transfer | - | 404,400 | - | - | - | (404,400) | - |
Total Transactions with Equity Holders | - | 404,400 | - | - | - | (757,580) | (353,180) |
Balance as at 31st December 2021 | 1,325,918 | 1,958,599 | 131,762 | 3,365 | 7,500 | 6,432,946 | 9,860,090 |
Balance as at 01st April 2022 | 1,325,918 | 1,699,794 | 170,877 | (226,311) | 7,500 | 7,677,372 | 10,655,150 |
Surcharge Tax | - | - | - | - | - | (665,184) | (665,184) |
Balance as at 01st April 2022 after Surcharge Tax | 1,325,918 | 1,699,794 | 170,877 | (226,311) | 7,500 | 7,012,188 | 9,989,966 |
Total Comprehensive Income for the Period | |||||||
Profit for the Period | - | - | - | - | - | 801,108 | 801,108 |
Other Comprehensive Income, net of Tax | |||||||
Net Actuarial Gains / (Losses) on Remeasurement of Defined Benefit Liability | - | - | - | - | - | - | - |
Net change in Revaluation of Land & Buildings | - | - | - | - | - | - | - |
Net Gains / (Losses) on Investment in Financial Assets at Fair Value through Other Comprehensive | |||||||
Income | - | - | - | (539,710) | - | - | (539,710) |
Transfer of fair value losses o/a reclassification of debt instruments from fair value through other | |||||||
comprehensive income to amortised cost, net of tax | - | - | - | 766,021 | - | - | 766,021 |
Total Comprehensive Income for the Period | - | - | - | 226,311 | - | 801,108 | 1,027,419 |
Transactions with owners of the Company | |||||||
Contributions and distributions | |||||||
Dividends to equity holders | |||||||
Final dividend paid for 2021/22 | - | - | - | - | - | (470,907) | (470,907) |
Statutory Reserve Transfer | - | 40,055 | - | - | - | (40,055) | - |
Total Transactions with Equity Holders | - | 40,055 | - | - | - | (510,962) | (470,907) |
Balance as at 31st December 2022 | 1,325,918 | 1,739,849 | 170,877 | - | 7,500 | 7,302,334 | 10,546,478 |
Vallibel Finance PLC
Interim Financial Statements for the Period ended 31st December 2022
VALLIBEL FINANCE PLC
Statement of Changes in Equity - Group
Amounts in Rupees '000 | ||||||||||
Stated | Statutory | Revaluation | Fair Value | General | Retained | Total Equity | Non | Total | ||
Capital | Reserve Fund | Reserve | Reserve | Reserve | Earnings | Attributable to | Controlling | Equity | ||
Equity Holders | Interest | |||||||||
of the | ||||||||||
Company | ||||||||||
Balance as at 01st April 2021 | 1,325,918 | 1,554,199 | 131,762 | - | 7,500 | 5,166,057 | 8,185,436 | - | 8,185,436 | |
Total Comprehensive Income for the Period | ||||||||||
Profit for the Period | - | - | - | - | - | 2,021,010 | 2,021,010 | - | 2,021,010 | |
Other Comprehensive Income, net of Tax | ||||||||||
Net Actuarial Gains / (Losses) on Remeasurement of Defined Benefit Liability | - | - | - | - | - | - | - | - | - | |
Net Gains / (Losses) on Investment in Financial Assets at Fair Value through Other | ||||||||||
Comprehensive Income | - | - | - | 3,365 | - | - | 3,365 | - | 3,365 | |
Net change in Revaluation of Land & Buildings | - | - | - | - | - | - | - | - | ||
Total Comprehensive Income for the Period | - | - | - | 3,365 | - | 2,021,010 | 2,024,375 | - | 2,024,375 | |
Transactions with owners of the Company | ||||||||||
Contributions and distributions | ||||||||||
Dividends to equity holders | ||||||||||
Interim dividend paid / payable for 2020/21 | - | - | - | - | - | (353,180) | (353,180) | - | (353,180) | |
Statutory Reserve Transfer | - | 404,400 | - | - | - | (404,400) | - | - | - | |
Total Transactions with Equity Holders | - | 404,400 | - | - | - | (757,580) | (353,180) | - | (353,180) | |
Balance as at 31st December 2021 | 1,325,918 | 1,958,599 | 131,762 | 3,365 | 7,500 | 6,429,487 | 9,856,631 | - | 9,856,631 | |
Balance as at 01st April 2022 | 1,325,918 | 1,699,794 | 231,297 | (226,311) | 7,500 | 7,604,637 | 10,642,835 | - | 10,642,835 | |
Surcharge Tax | - | - | - | - | - | (665,184) | (665,184) | - | (665,184) | |
Balance as at 01st April 2022 after Surcharge Tax | 1,325,918 | 1,699,794 | 231,297 | (226,311) | 7,500 | 6,939,453 | 9,977,651 | - | 9,977,651 | |
Total Comprehensive Income for the Period | ||||||||||
Profit for the Period | - | - | - | - | - | 790,178 | 790,178 | - | 790,178 | |
Other Comprehensive Income, net of Tax | ||||||||||
Net Actuarial Gains / (Losses) on Remeasurement of Defined Benefit Liability | - | - | - | - | - | - | - | - | - | |
Net change in Revaluation of Land & Buildings | - | - | - | - | - | - | - | - | ||
Net Gains / (Losses) on Investment in Financial Assets at Fair Value through Other | ||||||||||
Comprehensive Income | - | - | - | (539,710) | - | - | (539,710) | - | (539,710) | |
Transfer of fair value losses o/a reclassification of debt instruments from fair value through other | ||||||||||
comprehensive income to amortised cost, net of tax | - | - | - | 766,021 | - | - | 766,021 | - | 766,021 | |
Total Comprehensive Income for the Period | - | - | - | 226,311 | - | 790,178 | 1,016,489 | - | 1,016,489 | |
Transactions with owners of the Company | ||||||||||
Contributions and distributions | ||||||||||
Dividends to equity holders | ||||||||||
Final dividend paid for 2021/22 | - | - | - | - | - | (470,907) | (470,907) | - | (470,907) | |
Statutory Reserve Transfer | - | 40,055 | - | - | - | (40,055) | - | - | - | |
Total Transactions with Equity Holders | - | 40,055 | - | - | - | (510,962) | (470,907) | - | (470,907) | |
Balance as at 31st December 2022 | 1,325,918 | 1,739,849 | 231,297 | - | 7,500 | 7,218,669 | 10,523,233 | - | 10,523,233 |
Vallibel Finance PLC
Interim Financial Statements for the Period ended 31st December 2022
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Vallibel Finance plc published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 09:44:01 UTC.
