First Capital Treasuries : Provisional Financial Statements for the Quarter ended 31st December 2021

A Janashakthi Group Company

PROVISIONAL FINANCIAL STATEMENTS

Quarter ended

31st December 2021

FIRST CAPITAL TREASURIES PLC

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the period		October - December	April - December
		2021	2020	2021	2020
	Notes	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
Income		(38,565)	370,502	278,645	3,898,041
Direct income		(38,567)	346,885	224,095	3,887,798
Direct expenses		(188,379)	(269,297)	(684,638)	(1,050,824)
Net trading income/ (expense)		(226,946)	77,588	(460,543)	2,836,974
Other income	1	2	23,617	54,550	10,243
Gain/(Loss) on fair valuation of financial assets		200,983	89,066	(16,976)	(362,697)
recognised through profit or loss- measured at fair value
		(25,961)	190,271	(422,969)	2,484,520
Operating expenses
Administrative expenses		(64,034)	(53,995)	(135,176)	(301,631)
Sales and distribution expenses		(1,134)	(1,883)	(1,191)	(3,299)
Other operating expenses		(20,701)	(10,120)	(31,089)	(27,060)
		(85,869)	(65,998)	(167,456)	(331,990)
Profit/ (loss) before tax		(111,830)	124,273	(590,425)	2,152,530
Taxation	2	164,485	(37,143)	229,246	(609,511)
Profit/ (loss) for the period		52,655	87,130	(361,179)	1,543,019
Other comprehensive income
Items that will never be reclassified to profit or loss		-	-	-	-
Items that are or may be reclassified to profit or loss		-	-	-	-
Other comprehensive income for the period		-	-	-	-
Total comprehensive income/ (loss) for the period		52,655	87,130	(361,179)	1,543,019
Earnings/ (loss) per share (Rs.)	3	0.34	0.57	(2.35)	10.03

Figures in bracket indicate deductions.

Note: All values are in Rupees '000 unless otherwise stated.

Provisional Financial Statements	FIRST CAPITAL TREASURIES PLC
Quarter ended 31st December 2021	1

STATEMENT OF FINANCIAL POSITION

						As at		31st December	31st March
								2021	2021
							Notes	(Unaudited)	(Audited)
						ASSETS
						Cash at banks and in hand		4,686	146,614
						Derivative financial instruments		49,744	2,315
						Financial assets recognised through profit or loss - measured at fair value		20,881,157	23,085,413
						Financial assets -at amortised cost		2,582,697	2,158,045
						Receivable from related companies		2,418	165
						Deferred tax asset		87,577	4,731
						Other assets		354,450	316,406
						Property, plant and equipment and right of use assets		7,344	9,849
					Intangible assets		706	919
						TOTAL ASSETS		23,970,779	25,724,457
						LIABILITIES
						Derivative financial instruments		52,969	824
						Securities sold under re-purchase agreements		18,789,321	19,330,472
						Creditors and other payables		154,027	336,366
						Payable to related companies		10,155	18,515
					Income tax payable		-	740,959
					Borrowings on listed debentures	5	784,997	759,255
				Retirement benefit obligations		22,266	19,843
				TOTAL LIABILITIES		19,813,735	21,206,234
				EQUITY
				Stated capital	6	256,500	256,500
				Risk reserve		1,386,793	1,386,793
			Retained earnings		2,515,751	2,876,930
		Fair valuation reserve		(2,000)	(2,000)
	TOTAL EQUITY		4,157,044	4,518,223
TOTAL EQUITY & LIABILITIES		23,970,779	25,724,457
Note: All values are in Rupees '000 unless otherwise stated.
The above figures are subject to audit.

These financial statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

Mangala Jayashantha

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these financial statements.

Dilshan Wirasekara	Dinesh Schaffter
Director/Chief Executive Officer	Managing Director

14th February 2022

Colombo

Provisional Financial Statements	FIRST CAPITAL TREASURIES PLC
Quarter ended 31st December 2021	2

STATEMENT OF CHANGES IN EQUITY

For the period ended 31st December 2021	Stated	Risk	Retained	Fair Valuation	Total
	Capital	Reserve	Earnings	Reserve	Equity
Balance as at 1st April 2020 (Audited)	256,500	1,203,065	2,279,838	(2,000)	3,737,403
Total comprehensive income for the period
Profit for the period	-	-	1,543,019	-	1,543,019
Other comprehensive income	-	-	-	-	-
Total comprehensive income	-	-	1,543,019	-	1,543,019
Transactions with equity holders
Distribution to equity holders
Dividend paid (2nd Interim 2019/20)	-	-	(538,650)	-	(538,650)
Total distribution to equity holders	-	-	(538,650)	-	(538,650)
Total transactions with equity holders	-	-	(538,650)	-	(538,650)
Transfer to risk reserve	-	154,302	(154,302)	-	-
Balance as at 31st December 2020 (Unaudited)	256,500	1,357,367	3,129,905	(2,000)	4,741,772
Balance as at 1st April 2021 (Audited)	256,500	1,386,793	2,876,930	(2,000)	4,518,223
Total comprehensive income for the period
Loss for the period	-	-	(361,179)	-	(361,179)
Other comprehensive income	-	-	-	-	-
Total comprehensive loss	-	-	(361,179)	-	(361,179)
Transactions with equity holders
Total transactions with equity holders	-	-	-	-	-
Transfer to risk reserve	-	-	-	-	-
Balance as at 31st December 2021 (Unaudited)	256,500	1,386,793	2,515,751	(2,000)	4,157,044

Figures in bracket indicate deductions.

Note: All values are in Rupees '000 unless otherwise stated.

Provisional Financial Statements	FIRST CAPITAL TREASURIES PLC
Quarter ended 31st December 2021	3

STATEMENT OF CASH FLOWS

For the period	April - December
	2021	2020
	(Unaudited)	(Unaudited)
Cash flows from operating activities
Interest receipts and trading gain realized	222,474	3,887,297
Interest payments and other direct cost	(640,892)	(976,857)
Other receipts	54,550	10,243
Cash payments to employees and suppliers	(161,618)	(253,403)
Operating profit/ (loss) before changes in operating assets and liabilities	(525,486)	2,667,280
(Increase)/ Decrease in financial assets recognised through profit or loss measured at fair value	2,191,997	11,992,882
(Increase)/ Decrease in financial assets at amortised cost	(423,031)	(2,137,631)
(Increase)/ Decrease in receivable from related companies	(2,253)	(346)
(Increase)/ Decrease in other assets	(37,899)	(217,979)
Increase/ (Decrease) in creditors and accrued charges	(182,339)	15,768
Increase/ (Decrease) in payable to related companies	(8,360)	2,741
Increase/ (Decrease) in Securities sold under Repurchase Agreements	(559,155)	(11,765,901)
Cash generated from operations	453,474	556,814
Tax paid / refund	(594,559)	64
Gratuity paid	-	-
Net cash from/ (used in) operating activities	(141,085)	556,878
Cash flow from investing activities
Purchase of property, plant and equipment	(643)	(6,670)
Purchase of intangible assets	(200)	(370)
Net cash used in investing activities	(843)	(7,040)
Cash flow from financing activities
Dividend paid (2nd Interim - 2019/20)	-	(538,650)
Net cash used in financing activities	-	(538,650)
Net cash inflow/ (outflow) for the period	(141,928)	11,188
Cash and cash equivalents at the beginning of the period	146,614	8,361
Cash and cash equivalents at the end of the period (Note A)	4,686	19,549
Note A
Cash at bank and in hand	4,686	19,549
	4,686	19,549

Figures in bracket indicate deductions.

Note: All values are in Rupees '000 unless otherwise stated.

Provisional Financial Statements	FIRST CAPITAL TREASURIES PLC
Quarter ended 31st December 2021	4