Renuka Hotels : Quarterly Financial Report as of 31-12-2021

RENUKA HOTELS PLC

INTERIM REPORT

NINE MONTHS ENDED 31ST DECEMBER 2021

RENUKA HOTELS PLC - Interim Financial Statements

STATEMENT OF COMPREHENSIVE INCOME - GROUP

Quarter Ended 31st DecemberNine Months Ended 31st DecemberAudited

	2021	2020	Change	2021	2020	Change	31.03.2021
	Rs.000		Rs.000	%	Rs.000		Rs.000	%		Rs.000
Revenue	69,436	11,003	531	98,216	38,969	152		57,670
Cost of Sales	(30,870)		(17,378)	78	(50,737)		(32,419)	57		(50,430)
Gross Profit	38,566	(6,375)	(705)	47,479	6,550	625		7,240
Other Income	47,008	24,380	93	187,645	110,892	69		160,886
Marketing Expenses	(595)	(197)	202	(1,781)	(755)	136		(1,703)
Administration Expenses	(36,740)	(27,779)	32	(99,145)	(87,627)	13		(128,660)
Operating Expenses	(13,472)	(12,789)	5	(36,757)	(38,556)	(5)		(51,249)
Profit from operation	34,767	(22,759)	(253)	97,441	(9,495)	(1,126)		(13,484)
Finance Income	88,352	101,439	(13)	275,924	154,927	78		512,500
Profit Before Taxation	123,119	78,680	56	373,365	145,432	157		499,016
Income Tax Expense	(3,600)	-		(3,600)	-			36,851
Profit for the Period	119,519		78,680	52	369,765		145,432	154		535,867
Other Comprehensive Income
Item that will never be Classified into Profit or Loss
Remeasurement of Defined benefit obligation	-	-		-	-			4,907
Related Tax on Remeasurement of Defined Benefit Obligations	-	-		-	-			(687)
Net gain/(loss) on equity instruments at FVTOCI	201,355	209,764	(4)	483,632	(185,907)	(360)		(260,325)
Total Other Comprehensive Income for the Period	201,355		209,764	(4)	483,632		(185,907)	(360)		(256,105)
Total Comprehensive Income for the Period	320,873		288,444	11	853,396		(40,475)	(2,208)		279,761
Profit Attributable to
Equity Holders of the Company	92,441	58,759	57	296,831	123,801	140		393,068
Non-Controlling Interests	27,078	19,920	36	72,933	21,630	237		142,799
Profit for the Period	119,519		78,679	52	369,765		145,431	154		535,866
Total Comprehensive Income Attributable to
Equity Holders of the Company	222,205	199,747	11	741,576	369	200,869		206,256
Non-Controlling Interests	98,669	88,696	11	111,821	(40,845)	(374)		73,505
Total Comprehensive Income for the Period	320,873		288,443	11	853,396		(40,476)	(2,208)		279,761
Earnings per Share
Basic (Rupees Per Share)	2.29		1.46		7.37		3.07			9.75

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RENUKA HOTELS PLC - Interim Financial Statements

STATEMENT OF COMPREHENSIVE INCOME - COMPANY

Quarter Ended 31st DecemberNine Months Ended 31st DecemberAudited

	2021	2020	Change	2021	2020	Change	31.03.2021
				%					%
	Rs.000		Rs.000			Rs.000		Rs.000			Rs.000
Revenue	38,085	6,826	458		52,380	27,526	90		41,330
Cost of Sales	(21,695)		(13,617)	59		(32,075)		(22,623)	42		(36,920)
Gross Profit	16,390	(6,791)	(341)		20,305	4,903	314		4,410
Other Income	34,622	20,870	66		145,489	77,610	87		103,924
Marketing Expenses	(472)	(192)	146		(902)	(721)	25		(1,099)
Administration Expenses	(20,876)	(16,080)	30		(54,341)	(46,966)	16		(70,261)
Operating Expenses	(7,625)	(7,541)	1		(22,729)	(23,225)	(2)		(30,960)
Profit from operation	22,038	(9,734)	(326)		87,821	11,601	657		6,015
Finance Income	12,422	23,631	(47)		47,762	63,488	(25)		82,105
Profit Before Taxation	34,460	13,897	148		135,583	75,090	81		88,120
Income Tax Expense	(3,000)	-	-		(3,000)	-			405
Profit for the Period	31,460		13,897	126		132,583		75,090	77		88,525
Other Comprehensive Income
Item that will never be Classified to Profit or Loss
Remesurement of Defined benefit obligations	-	-			-	-			3,373
Related Tax on Remesurement of Defined Benift Obligations	-	-			-	-			(472)
Net gain/(loss) on equity instruments at FVTOCI	60,917	217,175	(72)		357,169	17,263	1,969		(41,931)
Total Other Comprehensive Income for the Period	60,917	217,175	(72)		357,169	17,263	1,969		(39,030)
Total Comprehensive Income for the Period	92,377		231,072	(60)		489,752		92,353	430		49,495
Earnings per Share
Basic (Rupees Per Share)	0.78		0.34			3.29		1.86			2.20

02

RENUKA HOTELS PLC - Interim Financial Statements
STATEMENT OF FINANCIAL POSITION			Group						Company
	As at		As at		Audited		As at		As at		Audited
ASSETS	31.12.2021	31.12.2020	31.03.2021	31.12.2021	31.12.2020	31.03.2021
Non-Current Assets	Rs.000		Rs.000		Rs.000		Rs.000		Rs.000		Rs.000
491,820	540,544	528,275	181,985	211,931	204,442
Property, Plant and Equipment
Intangible Assets	-	39	-	-	-	-
Investments in Subsidiary	-	-	-	160,642	160,642	160,642
Financial Assets	4,369,912	3,801,899	4,389,297	320,670	84,527	400,190
Fianacial Assets at Amortised Cost
Investments in equity securities at fair value through	3,643,794	3,067,618	3,024,914	2,524,667	2,106,311	2,060,476
OCI/available for sale
Total Non-Current Assets	8,505,527		7,410,100		7,942,485		3,187,964		2,563,411		2,825,750
Current Assets	6,711	4,173	2,404	6,149	3,471	1,818
Inventories
Amounts Due From Related Parties	7,470	38	-	7,470	21,477	10,412
Trade and Other Receivables	35,627	16,519	21,469	29,570	9,792	14,071
Income Tax Receivable	16,507	25,802	14,128	16,507	25,802	14,128
Short term investments	-	315,335	67,898	-	315,335	2,569
Cash and Cash Equivalents	906,018	565,613	588,684	596,980	447,555	478,536
Total Current Assets	972,333		927,480		694,583		656,677		823,432		521,534
Total Assets	9,477,860		8,337,580		8,637,068		3,844,641		3,386,843		3,347,284
EQUITY AND LIABILITIES
Capital and Reserve	112,509	112,509	112,509	112,509	112,509	112,509
Stated Capital
Revenue Reserve	5,738,354	5,463,481	5,738,354	2,453,491	2,453,491	2,453,491
Retained Earnings	1,317,733	766,165	1,020,901	904,435	755,517	771,853
Fair value Reserve	422,747	29,707	(21,995)	308,126	10,131	(49,043)
Total Equity Attributable to Equity Holders of the Company	7,591,342		6,371,862		6,849,769		3,778,562		3,331,648		3,288,810
Non-Controlling Interests	1,766,337	1,813,090	1,654,516	-	-	-
Total Equity	9,357,679		8,184,952		8,504,285		3,778,562		3,331,648		3,288,810
Non-Current Liabilities	38,399	38,093	39,203	24,544	24,785	25,057
Retirement Benefit Obligations
Interest bearing loans & Borrowings	-	5,156	3,432	-	-	-
Deferred Tax Liability	34,994	77,753	34,994	12,874	19,102	12,874
Total Non-Current Liabilities	73,393		121,002		77,629		37,418		43,887		37,931
Current Liabilities	30,239	18,107	27,956	21,143	10,874	17,734
Trade and Other Payables
Interest bearing loans & Borrowings	6,018	10,344	10,344	-	-	-
Amounts Due to Related Parties	991	-	1,000	2,241	-	1,000
Income Tax Payable	3,638	2,738	3,839	-	-	-
Bank Overdraft	5,902	437	12,015	5,276	434	1,809
Total Current Liabilities	46,789		31,626		55,154		28,661		11,308		20,544
Total Liabilities	120,182		152,628		132,783		66,079		55,195		58,474
Total Equity and Liabilities	9,477,860		8,337,580		8,637,068		3,844,641		3,386,843		3,347,284
Net assets per share	188.38	158.12	169.98	93.77	82.68	81.61

The Head of Finance certifies that the financial statements have been prepared in compliance with the requirements of the Companies Act No.7 of 2007.

For and on behalf of the Board,

……………………………………………..	……………………………………………..
Ms. S.R. Thambiayah	Mrs. M.A.Jayawardena
Chairperson /Jt.Managing Director	Director
14th February 2022

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RENUKA HOTELS PLC - Interim Financial Statements

STATEMENT OF CHANGES IN EQUITY - GROUP

Attributable to Equity Holders of the Parent

					Non
Stated	Revenue	Retained	Fair value		Controlling
Capital	Reserves	Earnings	Reserve	Total	Interests	Total
Rs.000	Rs.000	Rs.000	Rs.000	Rs.000	Rs.000	Rs.000

Balance as at 31st March, 2020

Net Profit for the Period

Net change in fair value of equity investments at FVTOCI

Changes in Non Controlling Interest

Balance as at 31st December, 2020 Balance as at 31st March, 2021 Net Profit for the Period

Net change in fair value of equity investments at FVTOCI

Balance as at 31st December, 2021

112,509	5,463,481	642,364	153,140	6,371,494	1,944,437	8,315,931
-	-	123,801	-	123,801	21,630	145,431
-	-	-	(123,432)	(123,432)	(62,475)	(185,907)
									(90,502)	(90,502)
112,509		5,463,481		766,165		29,708		6,371,863		1,813,090		8,184,953
112,509	5,738,354	1,020,901	(21,995)	6,849,769	1,654,516	8,504,285
-	-	296,831	-	296,831	72,933	369,765
-	-	-	444,742	444,742	38,887	483,629
112,509	5,738,354	1,317,733	422,747	7,591,342	1,766,337	9,357,679

STATEMENT OF CHANGES IN EQUITY - COMPANY
	Stated		Revenue		Retained		Fair Value
	Capital		Reserves		Earnings		Reserve		Total
	Rs.000		Rs.000		Rs.000		Rs.000		Rs.000
Balance as at 31st March, 2020	112,509	2,453,491	680,427	(7,112)	3,239,315
Net Profit for the Period	-	-	75,090	-	75,090
Net change in fair value of equity investments at FVTOCI	-	-	-	17,263	17,263
Realized Fair Value Gain/(Loss) on Financial Assets Available for Sale Investment	-	-	-	(20)	(20)
Balance as at 31st December, 2020
112,509		2,453,491		755,517		10,131		3,331,648
Balance as at 31st March, 2021	112,509	2,453,491	771,853	(49,043)	3,288,810
Net Profit for the Period	-	-	132,583			132,583
Realized Fair Value Gain/(Loss) on Financial Assets Available for Sale Investment	-	-	-	(7,575)	(7,575)
Net change in fair value of equity investments at FVTOCI	-	-	-	364,744	364,744
Balance as at 31st December, 2021
112,509	2,453,491	904,435	308,126	3,778,562

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