Vallibel One : Interim Financial Statement for the six months ended 30th September 2022

VALLIBEL ONE PLC

INTERIM FINANCIAL STATEMENTS

FOR THE SIX MONTHS PERIOD ENDED 30TH SEPTEMBER 2022

VALLIBEL ONE PLC

STATEMENT OF FINANCIAL POSITION

	Company		Group
As at	30.09.2022	31.03.2022	30.09.2022	31.03.2022
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
ASSETS
Cash and cash equivalent	58,231	904,727	13,641,798	32,068,507
Financial assets measured at fair value through profit or loss	58,665	48,608	122,566	94,039
Loans and Receivable	-	-	108,621,624	93,897,204
Lease rentals receivables and stock out on hire	-	-	37,116,566	41,640,198
Equity instruments measured at fair value through OCI	7,101,359	7,837,162	7,127,412	7,860,693
Other financial assets	-	-	15,051,743	5,691,763
Trade and other debtors and deposits	368,751	1,038,870	9,766,713	10,048,943
Contract asset	-	-	56,112	46,462
Other non-financial assets	5,748	5,562	5,372,108	2,967,995
Investments in subsidiaries	23,234,324	21,299,324	-	-
Investment in associate	413,068	413,068	594,353	598,333
Deferred tax assets	7,003	7,003	70,607	70,607
Income tax recoverable	-	-	191,594	31,847
Inventories	-	-	26,404,245	15,033,590
Leasehold rights over mining lands	-	-	-	-
Right of Use Lease Assets	3,094	21,903	3,518,848	2,626,495
Intangible assets	-	-	12,780,091	12,820,049
Consumable biological assets	-	-	597,522	595,643
Investment property	-	-	2,117,437	2,116,203
Property, plant and equipment	21,337	26,169	58,247,736	56,939,413
Assets held for sale	-	-	50,330	62,502
Total Assets	31,271,580	31,602,396	301,449,405	285,210,486
LIABILITIES
Due to banks	3,075	155	30,906,603	29,518,650
Due to customers	-	-	100,879,049	89,478,506
Interest-bearing loans and borrowings	6,638	29,259	28,451,304	26,528,792
Trade and other payables	37,242	53,528	10,514,741	12,252,647
Other non-financial liabilities	-	-	1,955,328	771,895
Contract liabilities	-	-	5,516,835	6,474,167
Dividend payable	11,231	13,372	168,982	145,153
Employee benefit liabilities	29,036	24,553	2,016,332	1,944,313
Income tax liabilities	99,576	375,094	2,103,979	3,862,564
Deferred tax liabilities	-	-	5,656,588	5,566,274
Liabilities directly associated with the assets classified as held for
sale	-	-	211,065	214,476
Total Liabilities	186,798	495,961	188,380,806	176,757,437
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	5,959,235	5,245,086	29,471,068	28,346,306
Other components of equity	(4,211,557)	(3,475,754)	11,660,354	12,282,036
	31,084,782	31,106,435	70,468,525	69,965,445
Non Controlling Interest	-	-	42,600,074	38,487,604
Total Equity	31,084,782	31,106,435	113,068,599	108,453,049
Total Equity and Liabilities	31,271,580	31,602,396	301,449,405	285,210,486
Net Asset Per Share (Rs.)	27.29	27.31	61.87	61.43

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
14/11/2022

VALLIBEL ONE PLC

STATEMENT OF INCOME

			Company					Group
For the Period ended 30th September	2022	2021	2022	2021	Variance	2022	2021	2022	2021	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	-	-	-	-	-	21,386,596	16,351,770	38,334,471	28,551,757	34
Interest income	-	-	-	-	-	10,383,216	7,090,197	18,951,177	13,588,171	39
Total revenue	-	-	-	-	-	31,769,812	23,441,967	57,285,648	42,139,928	36
Cost of sales	-	-	-	-	-	(18,250,797)	(12,259,049)	(31,562,410)	(22,353,990)	(41)
Gross profit	-	-	-	-	-	13,519,015	11,182,918	25,723,238	19,785,938	30
Dividend income	-	1,146,919	1,038,479	1,890,950	(45)	495	225	1,473	259	469
Other operating income	126,639	97,490	229,804	159,861	44	311,363	123,221	1,062,232	236,471	349
Administrative expenses	(90,798)	(69,075)	(203,536)	(140,226)	(45)	(2,630,913)	(2,164,860)	(5,217,770)	(4,257,585)	(23)
Distribution expenses	-	-	-	-	-	(2,418,429)	(1,722,950)	(4,381,635)	(3,182,763)	(38)
Other operating expenses	-	-	-	-	-	(228,317)	(127,840)	(976,094)	(739,132)	(32)
Result from operating activities	35,841	1,175,334	1,064,747	1,910,585	(44)	8,553,214	7,290,714	16,211,444	11,843,188	37
Finance cost	(911)	(1,943)	(2,455)	(5,408)	55	(1,213,206)	(291,656)	(1,934,657)	(583,522)	(232)
Finance income	64,134	13,748	69,846	17,231	305	483,538	124,964	857,653	211,383	306
Net finance income/ (cost)	63,223	11,805	67,391	11,823	470	(729,668)	(166,692)	(1,077,004)	(372,139)	(189)
Share of results of equity accounted investees	-	-	-	-	-	(13,138)	(12,436)	(3,980)	(21,334)	81
Profit before tax on financial services	99,064	1,187,139	1,132,138	1,922,408	(41)	7,810,408	7,111,586	15,130,460	11,449,715	32
Tax on financial services	-	-	-	-	-	(599,639)	(503,661)	(1,215,038)	(871,636)	(39)
Profit before tax	99,064	1,187,139	1,132,138	1,922,408	(41)	7,210,769	6,607,925	13,915,422	10,578,079	32
Income tax expense	(22,460)	(166,808)	(129,353)	(223,015)	42	(1,662,599)	(1,730,877)	(3,441,031)	(2,883,709)	(19)
Profit for the period from continuing operation	76,604	1,020,331	1,002,785	1,699,393	(41)	5,548,170	4,877,048	10,474,391	7,694,370	36
Discontinued Operation
Profit/(Loss)After tax for the period from discontinued operations	-	-	-	-		(2,968)	7,201	(5,313)	7,475	(171)
Net profit for the period	76,604	1,020,331	1,002,785	1,699,393	(41)	5,545,203	4,884,249	10,469,078	7,701,845	36
Attributable to :
Equity holders of the parent	76,604	1,020,331	1,002,785	1,699,393	(41)	2,671,668	2,654,775	4,973,658	4,045,309	23
Non - controlling interests	-	-	-	-		2,873,535	2,229,474	5,495,420	3,656,536	50
	76,604	1,020,331	1,002,785	1,699,393	(41)	5,545,203	4,884,249	10,469,078	7,701,845	36
Earnings Per Share (Rs.)	0.07	0.90	0.92	1.56		2.35	2.33	4.57	3.72

VALLIBEL ONE PLC

STATEMENT OF COMREHENSIVE INCOME

			Company					Group
For the period ended 30th September	2022	2021	2022	2021	Variance	2022	2021	2022	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	76,604	1,020,331	1,002,785	1,699,393	(41)	5,545,203	4,884,249	10,469,078	7,701,845	36
Other comprehensive income
Other comprehensive income to be reclassified to income statement in
subsequent periods
Exchange difference on translation of foreign operations	-	-	-	-	-	(99,361)	(75,420)	12,765	(177,315)	107
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	1,933,624	(102,670)	(735,803)	(308,011)	(139)	1,942,036	(106,157)	(733,205)	(322,237)	(128)
Other comprehensive income for the period, net of tax	1,933,624	(102,670)	(735,803)	(308,011)	(139)	1,842,675	(180,712)	(720,440)	(498,687)	(44)
Total comprehensive income for the period, net of tax	2,010,228	917,661	266,982	1,391,382	(81)	7,387,878	4,703,538	9,748,638	7,203,158	35
Total comprehensive income attributable to:
Equity holders of the parent	2,010,228	917,661	266,982	1,391,382	(81)	4,543,842	2,499,559	4,248,391	3,609,975	18
Non-controlling interests	-	-	-	-	-	2,844,036	2,203,979	5,500,247	3,593,183	53
	2,010,228	917,661	266,982	1,391,382	(81)	7,387,878	4,703,538	9,748,638	7,203,158	35

VALLIBEL ONE PLC

STATEMENT OF CHANGES IN EQUITY- COMPANY

For the period ended 30th September	Stated Capital	Fair value	Retained	Total
		Reserve	Earnings
	Rs.'000	Rs.'000	Rs.'000	Rs.'000
Balance as at 01st April 2021	29,337,103	(2,106,817)	3,303,360	30,533,645
Profit for the period	-	-	1,699,393	1,699,393
Other comprehensive income	-	(308,011)	-	(308,011)
Dividend Paid	-	-	(1,138,916)	(1,138,916)
Balance as at 30th September 2021
Balance as at 01st April 2022	29,337,103	(3,475,754)	5,245,086	31,106,435
Surchage tax			(288,636)	(288,636)
Balance After Surchage Tax	29,337,103	(3,475,754)	4,956,450	30,817,799
Profit for the period	-	-	1,002,785	1,002,785
Other comprehensive income	-	(735,803)	-	(735,803)
Balance as at 30th September 2022	29,337,103	(4,211,557)	5,959,235	31,084,782