Income statement For the three months period ended 31st December 2016* 2015 2016* 2015 Rs. Rs. Rs. Rs. Interest income 1,260,677,648 967,178,485 1,261,093,253 967,387,872 Interest expense (648,980,580) (436,282,238) (648,282,177) (435,114,815) Net interest income 611,697,068 530,896,247 612,811,076 532,273,057 Fee and commission income 39,891,130 29,726,548 71,316,560 54,913,930 Fee and commission expense (8,052,433) (15,801,898) (8,052,433) (15,801,898) Net fee and commission income 31,838,697 13,924,650 63,264,127 39,112,032 Net gain from trading 975,946-975,946 - Net loss from financial instruments designated at fair value through profit or loss (1,499,403) (4,977,735) (1,499,403) (4,977,735) Other operating income 27,602,055 15,116,694 31,154,055 18,943,694 Total operating income 670,614,363 554,959,856 706,705,801 585,351,048 Impairment charge on individual impairment (16,016,272) - (16,016,272) - Impairment (charge) / reversal on collective impairment (7,979,054) 20,011,752 (7,979,054) 20,011,752 Other loan losses reversal / (charge) 22,078,831 (19,283,244) 22,078,831 (19,283,244) Net operating income 668,697,868 555,688,364 704,789,306 586,079,556 Personnel expenses (135,681,910) (106,323,699) (136,505,692) (107,056,095) Depreciation of property, plant and equipment (63,159,378) (55,558,036) (64,443,808) (56,495,936) Amortization of intangible assets (3,770,012) (3,535,457) (3,770,012) (3,535,457) Other expenses (186,591,987) (162,361,452) (188,003,732) (164,049,373) Operating profit before value added tax on financial services 279,494,581 227,909,720 312,066,062 254,942,695 Value added tax on financial services (42,942,500) (23,286,659) (42,942,500) (23,286,659) Profit before income tax 236,552,081 204,623,061 269,123,562 231,656,036 Income tax expense (74,682,812) (86,974,100) (83,929,063) (93,918,356) Profit for the period 161,869,269 117,648,961 185,194,499 137,737,680 Basic earnings per share 2.48 1.80 2.84 2.11
Statement of other comprehensive income For the three months period ended 31st December 2016* 2015 2016* 2015 Rs. Rs. Rs. Rs. Profit for the period 161,869,269 117,648,961 185,194,499 137,737,680 Other comprehensive income Items that are or may be reclassified to profit or loss Net change in fair value of available for sale financial assets (1,559,448) - - (1,559,448) - - Other comprehensive income for the period net of tax (1,559,448) - (1,559,448) - Total comprehensive income for the period net of tax 160,309,821 117,648,961 183,635,051 137,737,680
Income statement For the nine months period ended 31st December 2016* 2015 2016* 2015 Rs. Rs. Rs. Rs. Interest income 3,454,684,857 2,773,600,176 3,455,906,699 2,774,416,691 Interest expense (1,689,867,680) (1,234,585,964) (1,687,781,948) (1,232,099,489) Net interest income 1,764,817,177 1,539,014,212 1,768,124,751 1,542,317,202 Fee and commission income 116,965,439 57,589,094 202,174,487 126,325,232 Fee and commission expense (14,980,574) (27,667,104) (14,980,574) (27,667,104) Net fee and commission income 101,984,865 29,921,990 187,193,913 98,658,128 Net gain from trading 4,186,893 5,254,914 4,186,893 5,254,914 Net loss from financial instruments designated at fair value through profit or loss (2,441,145) (1,452,701) (2,441,145) (1,452,701) Other operating income 90,961,127 55,871,590 66,517,127 61,966,590 Total operating income 1,959,508,917 1,628,610,005 2,023,581,539 1,706,744,133 Impairment reversal / (charge) on individual impairment 515,721 (1,086,205) 515,721 (1,086,205) Impairment (charge) / reversal on collective impairment (13,762,382) 24,638,622 (13,762,382) 24,638,622 Other loan losses reversal / (charge) 56,571,569 (62,057,994) 56,571,569 (62,057,994) Net operating income 2,002,833,825 1,590,104,428 2,066,906,447 1,668,238,556 Personnel expenses (379,872,324) (303,895,169) (382,844,125) (306,165,821) Depreciation of property, plant and equipment (182,972,400) (152,783,985) (186,653,721) (155,428,176) Amortization of intangible assets (10,768,381) (10,818,106) (10,768,381) (10,818,106) Other expenses (522,648,747) (437,555,795) (526,010,889) (443,806,833) Operating profit before value added tax on financial services 906,571,973 685,051,373 960,629,331 752,019,620 Value added tax on financial services (116,193,868) (62,673,279) (116,193,868) (62,673,279) Profit before income tax 790,378,105 622,378,094 844,435,463 689,346,341 Income tax expense (240,587,306) (224,206,912) (269,752,922) (242,976,324) Profit for the period 549,790,799 398,171,182 574,682,541 446,370,017 Basic earnings per share 8.43 6.10 8.81 6.84
Statement of other comprehensive income For the nine months period ended 31st December 2016* 2015 2016* 2015 Rs. Rs. Rs. Rs. Profit for the period 549,790,799 398,171,182 574,682,541 446,370,017 Other comprehensive income Items that are or may be reclassified to profit or loss Net change in fair value of available for sale financial assets 2,367,677-2,367,677 - Other comprehensive income for the period net of tax 2,367,677-2,367,677 - Total comprehensive income for the period net of tax 552,158,476 398,171,182 577,050,218 446,370,017
Statement of financial position As at 31.12.2016* 31.03.2016 31.12.2015 31.12.2016* 31.03.2016 31.12.2015 Rs. Rs. Rs. Rs. Rs. Rs. Assets Cash and cash equivalents 374,172,712 457,725,318 413,030,764 400,044,613 486,127,789 429,283,710 Deposits with licensed commercial banks 2,661,311,790 1,234,016,418 1,107,454,515 2,661,311,790 1,234,016,418 1,107,454,515 Repurchase agreements 505,977,566 972,624,516 415,713,920 505,977,566 972,624,516 415,713,920 Financial assets held at fair value through profit or loss 83,607,783 82,237,016 90,635,485 83,607,783 82,237,016 90,635,485 Finance leases 18,505,998,450 13,975,552,388 12,790,102,247 18,505,998,450 13,975,552,388 12,790,102,247 Hire purchases 886,581,587 2,024,520,342 2,621,475,092 886,581,587 2,024,520,342 2,621,475,092 Other loans and receivables 2,546,920,814 908,067,048 614,698,463 2,546,920,814 908,067,048 614,698,463 Financial assets available for sale 79,743,706 16,400,083 12,439,228 79,743,706 16,400,083 12,439,228 Financial assets held to maturity 873,512,878 832,030,919 816,590,347 873,512,878 832,030,919 816,590,347 Investments in subsidiaries 320,000,000 320,000,000 320,000,000 - - - Investment property 78,797,654 79,024,933 79,100,692 273,933,564 276,414,697 276,918,781 Property, plant and equipment 1,231,369,963 1,047,079,572 1,011,159,867 1,238,775,121 1,049,508,428 1,013,862,417 Intangible assets 73,770,335 68,558,945 71,958,207 138,590,549 133,379,159 136,778,421 Amounts due from related company - 6,990,797 8,271,288 - - - Current tax recoverable 12,046,853 20,044,397 - - - - Other assets 333,359,556 225,072,014 209,555,701 333,477,190 225,304,445 209,692,346 Total assets 28,567,171,647 22,269,944,706 20,582,185,816 28,528,475,611 22,216,183,248 20,535,644,972 Liabilities Due to banks 7,123,703,223 4,806,174,120 4,172,275,995 7,130,977,520 4,819,887,580 4,183,561,516 Deposits from customers 7,215,523,656 6,510,033,106 6,182,324,861 7,189,854,754 6,486,010,917 6,107,692,260 Other borrowings 3,720,798,740 3,885,511,133 3,108,179,324 3,720,798,740 3,885,511,133 3,108,179,324 Debt securities issued 4,380,058,141 1,800,155,870 2,089,034,365 4,380,058,141 1,800,155,870 2,089,034,365 Subordinated debentures 1,309,266,117 1,259,692,805 1,278,359,495 1,309,266,117 1,259,692,805 1,278,359,495 Deferred tax liabilities 567,765,341 434,104,236 373,861,817 570,891,605 436,663,479 373,893,427 Amounts payable to related company 2,912,745 - - - - - Current tax liabilities - - 8,332,170 351,340 282,276 18,177,437 Other liabilities 781,752,059 521,473,770 494,193,659 788,884,020 528,167,030 504,866,909 Employee benefits 66,388,156 59,440,712 67,538,427 66,704,607 59,659,648 67,728,153 Total liabilities 25,168,168,178 19,276,585,752 17,774,100,113 25,157,786,844 19,276,030,738 17,731,492,886 Equity Stated capital 1,008,062,200 1,008,062,200 1,008,062,200 1,008,062,200 1,008,062,200 1,008,062,200 Statutory reserve fund 265,036,033 265,036,033 230,036,033 265,059,033 265,059,033 230,036,033 Available for sale reserve 6,142,263 3,774,586-6,142,263 3,774,586 - Retained earnings 2,119,762,973 1,716,486,135 1,569,987,470 2,091,425,271 1,663,256,691 1,566,053,853 Total equity 3,399,003,469 2,993,358,954 2,808,085,703 3,370,688,767 2,940,152,510 2,804,152,086 Total liabilities and equity 28,567,171,647 22,269,944,706 20,582,185,816 28,528,475,611 22,216,183,248 20,535,644,972 Net assets per share 52.11 45.89 43.05 51.68 45.08 42.99 It is certified that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007 and the Finance Business Act No.42 of 2011 Sgd. S D Bandaranayake Additional Chief Executive Officer The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Approved and signed for and on behalf of the Board. Sgd. Sgd. W M R S Dias L Balasuriya Chairman Chief Executive Officer/Managing Director Colombo, Sri Lanka 25th January 2017
Statement of changes in equity Stated capital Statutory Available-forsale Retained earnings Total reserve fund reserve Rs. Rs. Rs. Rs. Rs. Balance as at 1 st April 2015 1,008,062,200 230,036,033-1,295,748,643 2,533,846,876 Total comprehensive income for the period Profit for the period - - - 398,171,182 398,171,182 Other comprehensive income, net of tax - - - - - Total comprehensive income for the period - - - 398,171,182 398,171,182 Transactions with equity holders recognized directly in equity Dividends paid - - - (123,932,355) (123,932,355) Balance as at 31st December 2015 1,008,062,200 230,036,033-1,569,987,470 2,808,085,703 Balance as at 1 st April 2016 1,008,062,200 265,036,033 3,774,586 1,716,486,135 2,993,358,954 Opening balance adjustment - - - (19,320,229) (19,320,229) Total comprehensive income Profit for the period - - - 549,790,799 549,790,799 Other comprehensive income, net of tax - - 2,367,677-2,367,677 Total comprehensive income for the period - - 6,142,263 549,790,799 552,158,476 Transactions with equity holders recognized directly in equity Dividends paid - - - (127,193,732) (127,193,732) Balance as at 31st December 2016* 1,008,062,200 265,036,033 6,142,263 2,119,762,973 3,399,003,469 Balance as at 1 st April 2015 1,008,062,200 230,036,033-1,243,616,191 2,481,714,424 Total comprehensive income for the period Profit for the period - - - 446,370,017 446,370,017 Other comprehensive income, net of tax - - - - - Total comprehensive income for the period - - - 446,370,017 446,370,017 Transactions with equity holders recognized directly in equity Dividends paid - - - (123,932,355) (123,932,355) Balance as at 31st December 2015 1,008,062,200 230,036,033-1,566,053,853 2,804,152,086 Balance as at 1 st April 2016 1,008,062,200 265,059,033 3,774,586 1,663,256,691 2,940,152,510 Opening balance adjustment - - - (19,320,229) (19,320,229) Total comprehensive income for the period Profit for the period - - - 574,682,541 574,682,541 Other comprehensive income, net of tax - - 2,367,677-2,367,677 Total comprehensive income for the period - - 6,142,263 574,682,541 577,050,218 Transactions with equity holders recognized directly in equity Dividends paid - - - (127,193,732) (127,193,732) Balance as at 31st December 2016* 1,008,062,200 265,059,033 6,142,263 2,091,425,271 3,370,688,767
Statement of cash flows For the nine months period ended 31st December 2016* 2015 2016* 2015 Rs. Rs. Rs. Rs. Cash flows from operating activities Interest and commission receipts 3,485,854,663 2,782,732,042 3,572,285,553 2,852,284,696 Interest payments (1,507,976,902) (1,232,864,337) (1,505,891,170) (1,230,377,862) Recoveries of bad debts 57,279,009 38,781,208 57,279,009 38,781,208 Other operating income 5,042,953 5,642,183 15,698,953 11,737,183 Operating expenditure (644,363,103) (628,711,892) (647,725,245) (634,962,932) Cash payments to employees (370,582,600) (294,605,445) (373,456,886) (296,763,870) Operating cash flow before changes in operating assets 1,025,254,020 670,973,759 1,118,190,214 740,698,423 and liabilities (Note A) Changes in operating assets and liabilities Net funds advanced to customers (4,988,299,917) (2,371,361,980) (4,988,299,917) (2,371,361,980) Deposits from customers 705,490,550 (359,570,898) 703,843,837 (411,829,014) Deposits with licensed commercial banks (1,427,295,372) (359,296,434) (1,427,295,372) (359,296,434) Government and other securities 425,164,991 411,749,580 425,164,991 411,749,580 Other assets (98,384,000) (72,534,806) (108,172,745) (65,574,428) Other liabilities 275,752,814 127,570,026 269,140,039 130,488,656 (5,107,570,934) (2,623,444,512) (5,125,619,167) (2,665,823,620) Operating cash flow after changes in operating assets (4,082,316,914) (1,952,470,753) (4,007,428,953) (1,925,125,197) and liabilities Taxes paid (115,018,183) (41,139,601) (144,493,781) (59,550,475) Gratuity paid (2,342,280) (2,442,791) (2,342,280) (2,442,791) Net cash generated from operating activities (4,199,677,377) (1,996,053,145) (4,154,265,014) (1,987,118,463) Cash flows from investing activities Net investment in trading securities (600,958) 4,695,928 (600,958) 4,695,928 Purchase of financial assets available for sale (60,000,000) (267,341) (60,000,000) (267,341) Dividends received on investments 37,359,369 2,211,883 2,259,369 2,211,883 Purchase of property, plant and equipment (407,850,647) (249,525,486) (414,254,417) (264,166,680) Purchase of intangible assets (15,979,771) (748,632) (15,979,771) (748,632) Proceeds from sale of property, plant and equipment 89,373,994 95,335,218 89,373,994 95,335,218 Net cash used in investing activities (357,698,013) (148,298,430) (399,201,783) (162,939,624) Cash flows from financing activities Securitized loans obtained 4,250,000,000 3,389,710,000 4,250,000,000 3,389,710,000 Repayment of loans (2,134,074,700) (992,516,060) (2,134,074,700) (992,516,060) Debentures issued 3,000,000,000-3,000,000,000 - Redemption of debenture (433,246,500) (210,000,000) (433,246,500) (210,000,000) Dividends paid (126,578,731) (125,952,505) (126,578,731) (125,952,505) Net cash generated from financing activities 4,556,100,069 2,061,241,435 4,556,100,069 2,061,241,435
Statement of cash flows (Continued) For the nine months period ended 31st December 2016* 2015 2016* 2015 Rs. Rs. Rs. Rs. Net increase/ (decrease) in cash and cash equivalents (1,275,321) (83,110,140) 2,633,272 (88,816,652) Cash and cash equivalents at the beginning of the period 298,162,589 312,689,587 312,851,600 323,363,524 Cash and cash equivalents at the end of the period 296,887,268 229,579,447 315,484,872 234,546,872 Reconciliation of cash and cash equivalents Cash and cash equivalents 374,172,712 413,030,764 400,044,613 429,283,710 Bank overdrafts (77,285,444) (183,451,317) (84,559,741) (194,736,838) 296,887,268 229,579,447 315,484,872 234,546,872 Note A Reconciliation of operating profit Profit before income tax 790,378,105 622,378,094 844,435,463 689,346,341 Depreciation 193,740,781 163,602,091 197,422,102 166,246,282 Dividend receipts on investments (37,359,369) (2,211,883) (2,259,369) (2,211,883) Profit on disposal of motor vehicles (48,558,865) (48,017,524) (48,558,865) (48,017,524) Provision for defined benefit plan 9,289,724 9,289,724 9,387,239 9,401,950 Impairment charge/(reversal) of financial assets 13,246,662 (23,552,417) 13,246,662 (23,552,417) Loan losses and write offs 10,167,586 23,488 10,167,586 23,488 Loss on mark to market valuation of shares 2,441,145 1,452,701 2,441,145 1,452,701 (Gain)/ loss on sale of shares (3,210,947) (5,254,914) (3,210,947) (5,254,914) Gains form available for sale financial assets (975,946) - (975,946) - Interest accrued on loans and advances (85,795,633) (48,457,228) (85,795,633) (48,457,228) Accrued interest on borrowings 119,168,695 4,064,414 119,168,695 4,064,414 Accrued interest on debentures 62,722,082 (2,342,787) 62,722,082 (2,342,787) 1,025,254,020 670,973,759 1,118,190,214 740,698,423
Segment report Leasing Hire Purchases Pawning advances Other Advances Investments Insurance Brokering Unallocated Total 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Revenue External customers Interest 2,620,864,347 1,753,387,621 343,793,248 798,913,632 49,583,091 18,951,315 224,949,255 74,742,036 216,716,758 128,422,087 - - - - 3,455,906,699 2,774,416,691 Trading - - - - - - - - 1,745,748 3,802,213 - - 68,557 90,184 1,814,305 3,892,397 Commissions - - - - - - - - - - 85,255,481 69,175,349 - - 85,255,481 69,175,349 Rent - - - - - - - - 13,496,000 7,485,000 - - - - 13,496,000 7,485,000 Dividends - - - - - - - - 2,259,369 2,211,883 - - - - 2,259,369 2,211,883 Other income 60,018,897 10,535,156 - - - - - - 48,558,865 48,017,524 - - 59,034,505 50,776,726 167,612,267 109,329,406 Total revenue 2,680,883,244 1,763,922,777 343,793,248 798,913,632 49,583,091 18,951,315 224,949,255 74,742,036 282,776,740 189,938,707 85,255,481 69,175,349 59,103,062 50,866,910 3,726,344,121 2,966,510,726 Profit before tax 844,435,463 689,346,341 Taxation (269,752,922) (242,976,324) Profit after tax 574,682,541 446,370,017 Segment Assets 18,505,998,450 13,975,552,388 886,581,587 2,024,520,342 450,597,817 180,227,250 2,096,322,997 727,839,798 5,588,091,675 4,331,972,402 33,091,155 30,841,958 967,791,930 945,229,110 28,528,475,611 22,216,183,248 Segment Liabilities 18,510,188,808 11,721,126,815 2,373,724,386 5,308,717,657 342,347,015 125,929,984 1,553,164,686 496,654,897 1,952,435,213 1,262,127,629 10,909,298 36,015,181 415,017,438 325,458,576 25,157,786,844 19,276,030,738 Information on Cash flows Operating activities (1,791,201,718) (1,400,992,556) 223,044,408 453,935,822 (54,292,551) (19,967,843) (281,836,193) (86,664,862) (2,061,353,302) (747,923,696) 32,670,041 353,206 (221,295,699) (185,858,533) (4,154,265,014) (1,987,118,462) Investing activities - - - - - - - - (58,341,589) 6,640,470 (6,304,500) - 89,274,725 95,335,218 24,628,636 101,975,688 Capital expenditure (275,251,772) (157,659,015) (13,186,706) (22,838,731) (6,702,035) (2,033,154) (31,179,978) (8,210,803) (83,115,328) (48,869,231) - (14,394,600) (25,304,378) (423,830,419) (264,915,312) Financing activities - - - - - - - - - - - - 4,556,100,069 2,061,241,435 4,556,100,069 2,061,241,435 Net cash flow (2,066,453,490) (1,558,651,571) 209,857,702 431,097,091 (60,994,586) (22,000,997) (313,016,171) (94,875,665) (2,202,810,219) (790,152,457) 26,365,541 353,206 4,409,684,495 1,945,413,742 2,633,272 (88,816,651) Depreciation and amortisation (156,332,772) (127,829,906) (7,489,558) (18,517,640) (3,806,507) (1,648,481) (17,709,068) (6,657,318) (227,279) (303,038) (1,409,406) (809,460) (10,447,512) (10,480,439) (197,422,102) (166,246,282)
Selected Performance Indicators As at 31st December 2016* 2015 Minimum Requirement Regulatory Capital Adequacy Core Capital (Tier 1 Capital) Rs. '000 2,989,584 2,533,847 Total Capital Base (Tier 2) Rs. '000 3,718,046 3,516,094 Core Capital Adequacy Ratio, as % of Risk Weighted Assets 12.37% 14.19% 5% Total Capital Adequacy Ratio, as % of Risk Weighted Assets 15.38% 19.69% 10% Capital funds to Deposit Liabilities Ratio 47.11% 45.42% **Computed as per the CBSL guidelines Asset Quality (Quality of Loan Portfolio) Gross Non-Performing Accommodations Rs. '000 433,236 440,680 Gross Non-Performing Accommodations Ratio, % 1.94% 2.68% Net Non-Performing Accommodations Ratio, % 0.35% 1.46% Profitability Interest Margin 10.43% 11.59% Return on Assets (before Tax) 4.92% 4.70% Return on Equity (after Tax) 23.62% 20.64% Regulatory Liquidity (Rs. '000) Required minimum amount of Liquid Assets** 1,395,497 918,415 10% Available amount of Liquid Assets 3,677,606 2,052,038 Required minimum amount of Government securities** 746,151 713,793 7.5% Available amount of Government securities 1,201,685 813,777 **Computed as per the CBSL guidelines Debt Debt-to-Equity ratio 4.86:1 3.79:1 Interest cover 1.33 1.32 Interest rate of comparable government securities 6 month Treasury bill 9.63% 6.83% 2 year Treasury bond 11.15% 8.30% 3 year Treasury bond 11.55% 9.50% 4 year Treasury bond 11.90% 9.80% 5 year Treasury bond 12.05% 10.05% Memorandum information Number of employees 633 574 Number of branches 48 39 Number of service centers 41 41 Number of pawning centers 17 12 *The above figures are provisional and subject to audit.
Notes to the Financial Statements 1 General The interim financial statements of the have been prepared on the basis of the accounting policies and methods of computation applied in the year ended March 31, 2016 and are in accordance with Sri Lanka Accounting Standards (LKAS/SLFRS). The interim financial statements are prepared in compliance with Sri Lanka Accounting Standard (LKAS) 34 - Interim Financial Reporting. 2 3 There were no material changes in the composition of assets, liabilities, contingent liabilities and the use of funds raised through debentures during the quarter. All known expenses have been provided for in these financial statements. 4 Dividend Payment The board of Directors has declared following Dividend payments, Dividend per share Rs. 2015 / 2016 Third Interim 0.60 39,136,533 June 15,2016. 2015 / 2016 Final Dividend 0.75 48,920,666 September 05,2016. 2016 / 2017 First Interim 0.60 39,136,533 November 24, 2016. 5 Debenture Information Year Dividend Total Amount paid Further, the Board of Directors has declared with the approval of Central Bank of Sri Lanka a second interim dividend of Rs. 0.90 per share. The total dividend payment amount Rs. 58,704,799/50- will be paid on January 26, 2017. Rs. Paid Date 5.1 During the period, the company redeemed the unlisted debentures to the value of Rs. 19 million and Listed Debentures to the value of Rs. 414.25 million. Further, the company issued Rs. 3 Billion worth of Unsecured, listed, rated, redeemable debentures in November 2016. 5.2 Information on listed debenture Last traded Type of Debenture Annual effective Current yield Yield to maturity Rs. 2 year - 12.50 % payable Semi- Annually 100 12.89% 12.50% 6.25% 3 year - 6 months gross T-bill rate + 1.50 % payable Semi-annually Not traded 12.49% Not traded Not traded 3 year - 13.25 % payable Semi- Annually Not traded 13.69% Not traded Not traded 4 year - 6 months gross T-bill rate + 1.75 % payable Semi-annually Not traded 12.75% Not traded Not traded 4 year - 13.75 % payable Semi- Annually Not traded 14.22% Not traded Not traded 4 year - 17.25% payable quarterly Not traded 18.40% Not traded Not traded 4 year - 6 months gross T-bill rate +2.50% payable Semi-annually Not traded 13.35% Not traded Not traded 5 year - 15.00% payable quarterly Not traded 15.87% Not traded Not traded 6 Share information 6.1 Directors' shareholdings The number of shares held by the Board of Directors and their close family members are as follows As at 31.12.2016 1. Dr. A. Balasuriya 2. Dr. A. Balasuriya & Mr. D. Balasuriya 3. Dr. A. Balasuriya & Mr. S. Balasuriya 4. Dr. M. Balasuriya 5. Mrs. L. Fernando 6. Mr. L. Balasuriya & Ms. A. S. Balasuriya 7. Mr. L. Balasuriya & Mr. S. K. Balasuriya 8. Mr. W. A. T. Fernando 9. Dr. P. Ramanujam 10. Mr. S. S. Kulatunga 11. Mr. S. D. Bandaranayake 12. Mr. D.T.P.Collure 13. Mr. W.M.R.S. Dias 14. Mrs. L. Fernando & Ms. S.A. Fernando 15. Mrs. L. Fernando & Mr. A. R.Fernando 16. Mrs. L. Fernando & Ms. A.L. Fernando 17. Mr. L. Balasuriya / The Trustee of the Capitalization Issue 3,747,127 3,858 3,857 3,754,842 3,141,113 1,877,420 1,877,421 Nil Nil Nil Nil Nil Nil 2,572 2,571 2,571 15
Notes to the Financial Statements (contd.) 6.2 Key Management Shareholdings The number of shares held by the Key Management Personnel. As at 31.12.2016 1. Mr. P.P.K. Ikiriwatta 2. Mr. J.K. Jayathilake 15,280 15,267 6.3 Stated Capital Stated capital is represented by the number of shares in issue as set out below: As at 31.12.2016 31.03.2016 Ordinary shares 65,227,555 65,227,555 6.4 The 20 largest shareholders of the company as at December 31, 2016 were: Shareholder Number of Shares % 1. E. W. Balasuriya & Co. (Pvt) Limited 36,697,014 56.27 2. Hallsville Trading Inc. 5,308,517 8.14 3. Dr. M. Balasuriya 3,754,842 5.76 4. Dr. (Mrs.) G. Madan Mohan 3,754,841 5.76 5. Dr. A. Balasuriya 3,747,127 5.75 6. Mr. R. Balasuriya 3,406,480 5.22 7. Mrs. L. Fernando 3,141,113 4.82 8. Mr. L. Balasuriya & Mr. S. K. Balasuriya 1,877,421 2.88 9. Mr. L. Balasuriya & Ms. A. S. Balasuriya 1,877,420 2.88 10. Mr. D. K. C. R. Fernando 606,014 0.93 11. Mr. R. Balasuriya 348,362 0.53 12. Mrs. C. Fernando 172,888 0.24 13. Estate of the late Mr. D. G. K. Hewamallika 172,888 0.27 14. Mrs. S. Thaha 158,483 0.27 15. Mr. Ifthikar Mubarak Thaha 129,666 0.20 16. Mr. M. M. Ariyaratne 28,488 0.04 17. Mr. P. P. K. Ikiriwatte 15,280 0.02 18. Mr. J. K. Jayatileke 15,267 0.02 19. Dr. A. Balasuriya & Mr. D. Balasuriya 3,858 0.01 20. Dr. A. Balasuriya & Mr. S. Balasuriya 3,857 0.01 65,219,826
Notes to the Financial Statements (contd.) 6.5 The percentage of shares held by the public on December 31, 2016 was 21.60% (2015-21.60%) and is distributed among 10 Shareholders (2015-10 Shareholders). 6.6 Information on Ratios and Share Prices As at 31.12.2016 31.12.2015 Dividend per share (Rs.) 8.43 6.10 Net Assets per share (Rs.) 52.11 43.05 Market Prices - Highest price 90.00 Not traded - Lowest price 90.00 Not traded - Last traded price 90.00 Not traded 7 There have been no other events subsequent to the Balance Sheet date, which require disclosure in the Interim Financial Statement. The company has been affirmed a long - term rating of BBB+ (lka) with a stable outlook by Fitch Ratings Lanka Limited.