Vallibel One : Financial statements as at 31st December 2021

VALLIBEL ONE PLC

INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS PERIOD ENDED 31ST DECEMBER 2021

VALLIBEL ONE PLC

STATEMENT OF FINANCIAL POSITION

	Company			Group
As at	31.12.2021		31.03.2021		31.12.2021		31.03.2021
	Rs.'000		Rs.'000		Rs.'000		Rs.'000
ASSETS
Cash and cash equivalent	258,917		88,931		25,612,506		11,517,402
Financial assets measured at fair value through profit or loss	74,589		87,998		135,498		137,049
Loans and Receivable	-		-		82,497,548		67,466,580
Lease rentals receivables and stock out on hire	-		-		42,285,442		47,359,635
Equity instruments measured at fair value through OCI	8,915,200		9,206,099		8,949,032		9,231,268
Other financial assets	-		75,000		7,107,542		11,187,198
Trade and other debtors and deposits	305,798		663,567		8,812,558		8,257,681
Contract asset	-		-		40,343		52,561
Other non-financial assets	4,096		2,749		1,834,396		1,114,376
Investments in subsidiaries	20,230,723		20,230,723		-		-
Investment in associate	413,068		413,068		570,363		591,144
Deferred tax assets	3,954		3,954		64,630		37,510
Income tax recoverable	-		-		60,502		64,894
Inventories	-		-		14,512,151		12,318,317
Leasehold rights over mining lands	-		-		1,619		1,619
Right of Use Lease Assets	31,291		59,452		3,322,343		2,724,270
Intangible assets	-		-		12,735,548		12,798,873
Consumable biological assets	-		-		592,893		630,578
Investment property	-		-		1,996,010		1,980,307
Property, plant and equipment	28,333		32,484		53,580,383		52,594,706
Assets held for sale	-		-		58,613		65,602
Total Assets	30,265,969		30,864,025		264,769,920		240,131,570
LIABILITIES
Due to banks	2,257		106		23,020,253		17,904,126
Due to customers	-		-		87,672,862		85,940,213
Interest-bearing loans and borrowings	39,734		68,162		24,615,465		19,386,131
Trade and other payables	42,865		20,863		11,612,911		9,150,750
Other non-financial liabilities	-		-		940,408		729,673
Contract liabilities	-		-		4,338,969		1,832,902
Dividend payable	34,086		13,821		172,369		92,161
Employee benefit liabilities	17,280		14,689		2,230,496		2,093,302
Income tax liabilities	157,016		212,739		2,709,306		3,141,752
Deferred tax liabilities	-		-		5,487,660		5,501,377
Liabilities directly associated with the assets classified as held for
sale	-		-		142,235		169,243
Total Liabilities	293,238		330,380		162,942,934		145,941,630
Shareholders' Funds
Equity Attributable to Equity Holders of the Parent
Stated capital	29,337,103		29,337,103		29,337,103		29,337,103
Reserves	3,033,344		3,303,359		24,252,914		21,151,234
Other components of equity	(2,397,716)		(2,106,817)		12,946,912		12,068,011
	29,972,731		30,533,645		66,536,929		62,556,348
Non Controlling Interest	-		-		35,290,057		31,633,592
Total Equity	29,972,731		30,533,645		101,826,986		94,189,940
Total Equity and Liabilities	30,265,969		30,864,025		264,769,920		240,131,570
Net Asset Per Share (Rs.)	26.32		26.81		58.42		54.93

These Financial Statements are in Compliance with the requirements of Companies Act No. 07 of 2007.

Sgd.

Chief Financial Officer

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

Sgd.	Sgd.
Director	Director
11/02/2022

VALLIBEL ONE PLC

STATEMENT OF INCOME

			Company					Group
For the Period ended 31st December	2021	2020	2021	2020	Variance	2021	2020	2021	2020	Variance
	Quarter	Quarter	Cumulative	Cumulative	%	Quarter	Quarter	Cumulative	Cumulative	%
	Rs.'000	Rs.'000	Rs.'000	Rs.'000		Rs.'000	Rs.'000	Rs.'000	Rs.'000
Revenue
Revenue from contract with customers	-	-	-	-	-	18,868,545	15,571,061	47,420,302	34,885,837	36
Interest income	-	-	-	-	-	8,372,767	7,470,136	21,960,938	21,717,094	1
Total revenue	-	-	-	-	-	27,241,312	23,041,197	69,381,240	56,602,931	23
Cost of sales	-	-	-	-	-	(13,724,735)	(12,407,022)	(36,078,725)	(32,056,782)	(13)
Gross profit	-	-	-	-	-	13,516,577	10,634,175	33,302,515	24,546,149	36
Dividend income	930,039	-	2,820,989	856,216	229	2,183	3,279	2,442	673,886	(100)
Other operating income	120,451	90,417	268,578	273,399	(2)	78,949	143,843	315,420	354,742	(11)
Administrative expenses	(104,964)	(54,273)	(245,190)	(174,496)	(41)	(2,451,761)	(2,044,450)	(6,709,346)	(5,623,578)	(19)
Distribution expenses	-	-	-	-	-	(2,061,347)	(1,906,667)	(5,244,110)	(4,400,236)	(19)
Other operating expenses	(25,143)	-	(13,409)	-	(100)	83,646	(491,649)	(655,486)	(1,999,271)	67
Result from operating activities	920,383	36,144	2,830,968	955,119	196	9,168,247	6,338,531	21,011,435	13,551,692	55
Finance cost	(1,446)	(19,879)	(6,854)	(85,141)	92	(249,777)	(349,807)	(833,299)	(1,588,091)	48
Finance income	8,381	-	25,612	-	100	165,042	6,523	376,425	64,530	483
Net finance cost	6,935	(19,879)	18,758	(85,141)	122	(84,735)	(343,284)	(456,874)	(1,523,561)	70
Share of results of equity accounted investees	-	-	-	-	-	553	(9,847)	(20,781)	(31,948)	35
Profit before tax on financial services	927,318	16,265	2,849,726	869,978	228	9,084,065	5,985,400	20,533,780	11,996,183	71
Tax on financial services	-	-	-	-	-	(667,228)	(450,132)	(1,538,864)	(1,090,338)	(41)
Profit before tax	927,318	16,265	2,849,726	869,978	228	8,416,837	5,535,268	18,994,916	10,905,845	74
Income tax expense	(49,435)	1,285	(272,450)	(91,371)	(198)	(2,143,903)	(1,452,993)	(5,027,612)	(2,996,189)	(68)
Profit for the period from continuing operation	877,883	17,550	2,577,276	778,607	231	6,272,934	4,082,275	13,967,304	7,909,656	77
Discontinued Operation
Profit/(Loss)After tax for the year from discontinued operations	-	-	-	-		4,658	(3,419)	12,133	(18,764)	165
Net profit for the period	877,883	17,550	2,577,276	778,607	231	6,277,592	4,078,856	13,979,437	7,890,892	77
Attributable to :
Equity holders of the parent	877,883	17,550	2,577,276	778,607	231	3,160,232	2,033,933	7,205,541	4,477,644	61
Non - controlling interests	-	-	-	-		3,117,360	2,044,923	6,773,896	3,413,248	98
	877,883	17,550	2,577,276	778,607	231	6,277,592	4,078,856	13,979,437	7,890,892	77
Earnings Per Share (Rs.)	0.81	0.02	2.37	0.72		2.90	1.87	6.62	4.12

VALLIBEL ONE PLC

STATEMENT OF COMREHENSIVE INCOME

				Company					Group
	For the period ended 31st December	2021	2020	2021	2020	Variance	2021	2020	2021	2020	Variance
		Quarter	Quarter	Cumulative	Cumulative	%	Quarter	Quarter	Cumulative	Cumulative	%
		Rs.'000	Rs.'000	Rs.'000	Rs.'000		Rs.'000	Rs.'000	Rs.'000	Rs.'000
	Profit for the period	877,883	203,557	2,577,276	778,607	231	6,277,592	4,078,856	13,979,437	7,890,892	77
	Other comprehensive income
	Other comprehensive income to be reclassified to income statement in
	subsequent periods
	Exchange difference on translation of foreign operations	-	-	-	-	-	34,554	(13,537)	(142,761)	13,402	(1165)
	Other comprehensive income not to be reclassified to income statement
	in subsequent periods
	Net gain/(loss) on equity instruments measured at fair value through OCI	17,112	205,340	(290,899)	(1,363,233)	79	39,838	206,928	(282,399)	(1,360,871)	79
	Revaluation of land and building - net of tax	-	-	-	-	-	25	-	890	-	100
	Acturial gain/(loss) on retirement benefit obligation - net of tax	-	-	-	-	-	-	(1,231)	-	(3,692)	100
	Other comprehensive income for the period, net of tax	17,112	205,340	(290,899)	(1,363,233)	79	74,417	192,160	(424,270)	(1,351,161)	69
	Total comprehensive income for the period, net of tax	894,995	408,897	2,286,377	(584,626)	491	6,352,009	4,271,016	13,555,167	6,539,732	107
	Total comprehensive income attributable to:
	Equity holders of the parent	894,995	408,897	2,286,377	(584,626)	491	3,215,481	2,231,052	6,825,456	3,123,613	119
	Non-controlling interests	-	-	-	-	-	3,136,528	2,039,964	6,729,711	3,416,119	97
		894,995	408,897	2,286,377	(584,626)	491	6,352,009	4,271,016	13,555,167	6,539,732	107
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VALLIBEL ONE PLC

STATEMENT OF CHANGES IN EQUITY- COMPANY

For the period ended 31st December	Stated Capital		Fair value		Retained	Total
			Reserve		Earnings
	Rs.'000		Rs.'000		Rs.'000	Rs.'000
Balance as at 01st April 2020	27,163,984	(2,215,191)	3,413,067		28,361,859
Profit for the period	-	-	778,607		778,607
Other comprehensive income	-	(1,363,233)	-		(1,363,233)
Balance as at 31st December 2020	27,163,984		(3,578,424)		4,191,673		27,777,233
Balance as at 01st April 2021	29,337,103	(2,106,817)	3,303,359		30,533,645
Profit for the period	-	-	2,577,276		2,577,276
Other comprehensive income	-	(290,899)	-		(290,899)
Dividend Paid	-	-	(2,847,289)		(2,847,289)
Balance as at 31st December 2021	29,337,103		(2,397,716)		3,033,347		29,972,731