AMW CAPITAL LEASING AND FINANCE PLC

INTERIM FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2024
AMW CAPITAL LEASING AND FINANCE PLC
STATEMENT OF FINANCIAL POSITION

As at 31.03.2024 As at 31.12.2023
Rs. Rs.
(Unaudited) (Audited)
ASSETS
Cash and Bank 725,679,669 351,426,579
Other Financial Assets 110,310,007 57,450,811
Other Non Financial Assets 31,434,040 44,285,625
Deferred tax assets 152,683,085 152,683,085
Rentals Receivable on Lease and Hire Purchase Assets 441,430,682 573,045,893
Loans and Advances 4,343,405,025 4,043,318,206
Equity Instruments at fair value through Other Comprehensive Income 2,185,042 2,185,042
Debt instruments at amortised cost 1,394,429,268 2,115,153,299
Plant & Equipment 35,931,148 38,252,067
Right of Use Assets 47,208,886 60,768,227
Total Assets 7,284,696,852 7,438,568,834

EQUITY AND LIABILITIES

Liabilities
Bank Overdraft 556,034,447 10,036,142
Trade & Other Payables 830,668,240 610,924,538
Time Deposits 1,573,109,863 1,370,792,048
Interest Bearing Borrowings 500,000,001 1,623,474,231
Lease Liability 67,197,688 73,304,734
Provision for Income Tax 76,749,354 75,298,712
Retirement Benefit Obligation 42,613,251 31,489,810
Total Liabilities 3,646,372,844 3,795,320,215

Equity
Stated Capital 200,000,000 200,000,000
Retained Profit 3,255,786,747 3,260,711,358
Fair Value through OCI Reserve 1,492,694 1,492,693
Statutory Reserve Fund 181,044,567 181,044,568
Total Equity 3,638,324,008 3,643,248,619
Total Equity and Liabilities 7,284,696,852 7,438,568,834
- -

I certify that the Financial Statements have been prepared in compliance with the requirements of the Companies Act No.7 of 2007.
-

Sgd
……………………………………………
General Manager – Finance

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

Colombo
07 May 2024
AMW CAPITAL LEASING AND FINANCE PLC
STATEMENT OF COMPREHENSIVE INCOME

For the Three Months Ended

31.03.2024 31.03.2023 Variance
Rs. Rs. %
(Unaudited) (Unaudited)

Income 331,428,090 407,766,581 -19%

Interest Income 209,844,944 363,129,659 -42%

Interest Expense (104,733,334) (171,823,675) -39%

Net Interest Income 105,111,609 191,305,985 -45%

Other Operating Income 121,583,146 44,636,922 172%

Profit Before Operating Expenses 226,694,756 235,942,907 -4%

Operating Expenses

General Administration Costs (124,711,503) (89,574,279) 39%

Staff Cost (83,134,655) (56,388,782) 47%

Credit Loss Expense 801,413 (87,561,287) -101%

Profit from Operations 19,650,011 2,418,559 712%

Value Added Tax on Financial Services (15,256,288) (9,786,740) 56%

Profit Before Tax 4,393,723 (7,368,182) -160%

Taxation (9,318,335) - #DIV/0!

Net Profit for the Period (4,924,612) (7,368,182) -33%

Other Comprehensive Income Net of Tax - - 0%

Total Comprehensive Income Net of Tax (4,924,612) (7,368,182) -33%

Earning Per Share (0.25) (0.37)

Figures in brackets indicate deductions.

AMW CAPITAL LEASING AND FINANCE PLC
STATEMENT OF CHANGES IN EQUITY

Statutory
Fair Value through
Stated Retained Reserve
OCI Reserve
Capital Profit Fund Total Equity
Rs. Rs. Rs. Rs. Rs.
Balance as at 31 December 2022 (Audited) 200,000,000 3,189,378,331 177,009,168 1,427,881 3,567,815,379

Profit for the Period - (7,368,182) - - (7,368,182)

Balance as at 31 March 2023 (Unaudited) 200,000,000 3,182,010,149 177,009,168 1,427,881 3,560,447,197

Profit for the Period - 88,076,175 - - 88,076,175

Other Comprehensive Income - (5,339,565) - 64,813 (5,274,752)

Transfers - (4,035,400) 4,035,400 - -

Balance as at 31 December 2023 (Audited) 200,000,000 3,260,711,359 181,044,567 1,492,694 3,643,248,620

Profit for the Period - (4,924,612) - - (4,924,612)

Balance as at 31 March 2024 (Unaudited) 200,000,000 3,255,786,747 181,044,567 1,492,694 3,638,324,008

Figures in brackets indicate deductions.

AMW CAPITAL LEASING AND FINANCE PLC
CASH FLOW STATEMENT

For the Year Ended 31.03.2024 31.03.2023

Rs. Rs.
(Unaudited) (Unaudited)
CASH FLOWS FROM / (USED IN) OPERATING ACTIVITIES
Net Profit before Income Tax 4,393,723 (7,368,182)
Adjustments for :
Interest Income on Debt Instruments at Amortized Cost (66,117,786) (68,343,208)
Accrued Loan Interest 104,733,334 76,510,360
Retiring Gratuity - Charge for the period 4,780,852 2,902,760
Interest on Lease Liability 13,559,341 2,129,770
Depreciation & Amortization 4,168,152 9,064,716
Operating Profit Before Changes in Working Capital 65,517,617 14,896,216

Increase / (Decrease) in Trade & Other Payables 226,281,036 239,763,051

(Increase) / Decrease in Other Financial Assets & Non Financial Assets (52,756,790) 16,318,669
Net Investment in Lease, Hire Purchase and Loans and Advances (273,204,942) 793,181,839
Net Deposits from Customers 202,317,815 (274,229,406)
Net Cash Generated from Operations 168,154,737 789,930,369

Gratuity Paid (1,257,584) (1,359,000)

Income Tax Paid (6,804,855) (9,825,749)
Net Cash from/ (used in) Operating Activities 160,092,297 778,745,620

CASH FLOW FROM / (USED IN) INVESTING ACTIVITIES

Acquisition of Plant, Equipment and Intangible Assets (1,847,232) (1,393,730)

(Investment) / Maturity of HTM investments 720,724,031 (57,002,678)
Interest Received from Debt Instruments at Amortized Cost 78,866,965 68,343,208
Net Cash from/ (used in) Investing Activities 797,743,764 9,946,800

CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES

Lease Payments during the year (6,107,046) (10,384,736)
Loans Obtained - -
Loan Settlements made (1,123,474,230) (635,004,580)

Net Cash from/ (used in) Financing Activities (1,129,581,276) (645,389,317)

Net Increase / (Decrease) in Cash & Cash Equivalents (171,745,215) 143,303,103

Cash & Cash Equivalents at the Beginning of the period 341,390,437 270,030,715
Cash & Cash Equivalents at the End of the period 169,645,222 413,333,818

Figures in brackets indicate deductions.

AMW CAPITAL LEASING AND FINANCE PLC
NOTES TO THE FINANCIAL STATEMENTS
SEGMENTAL ANALYSIS

Finance Lease Hire Purchase Term Loans Operating Lease Unallocated Total
31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.

Interest Income 29,117,757 51,588,028 - - 179,885,489 240,766,819 841,698 70,774,812 209,844,944 363,129,659
Other Operating Income 5,522,657 15,192,855 - - 43,158,451 25,529,102 72,902,038 3,914,965 121,583,146 44,636,922
Total Revenue 34,640,414 66,780,883 - - 223,043,940 266,295,921 - - 73,743,736 74,689,777 331,428,090 407,766,581

Interest Expenses (10,904,785) (17,479,093) - - (93,828,549) (154,344,581) - - - - (104,733,334) (171,823,675)

Other Expenses (10,097,553) (82,814,626) (78,910,347) (139,156,406) (133,293,133) (21,340,056) (222,301,033) (243,311,088)

Profit Before Tax 4,393,723 (7,368,182)

Taxation (9,318,335) -

Profit/(Loss) After Tax (4,924,612) (7,368,182)

Finance Lease Hire Purchase Term Loans Operating Lease Unallocated Total
31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023 31.03.2024 31.03.2023
Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.

Segment Assets 501,734,610 671,904,578 - - 4,317,098,420 5,933,078,389 - - 26,306,605 - 4,845,139,636 6,604,982,967

Unallocated Assets - - - - - - - - 1,453,226,211 2,267,375,399 1,453,226,212 2,267,375,399
Total Assets 501,734,610 671,904,578 - - 4,317,098,420 5,933,078,389 - - 1,479,532,816 2,267,375,399 6,298,365,848 8,872,358,366

Segment Liabilities 300,698,449 477,008,793 - - 2,587,313,639 4,212,101,920 - - - - 2,888,012,088 4,689,110,714

Unallocated Liabilities - - - - - - - - 555,138,178 622,800,454 555,138,178 622,800,454
Total Liabilities 300,698,449 477,008,793 - - 2,587,313,639 4,212,101,920 - - 555,138,178 622,800,454 3,443,150,266 5,311,911,168

Figures in brackets indicate deductions.

The above figures are subject to audit.
AMW CAPITAL LEASING AND FINANCE PLC
Notes to the Financial Statements

1 The Interim Financial Statements of the Company are prepared in compliance with the Sri Lanka Accounting
Standard- LKAS 34, Interim Financial Reporting. These Interim Financial Statements should be read in conjunction
with the Annual Audited Financial Statements for the year ended 31 December 2023.

2 There are no changes in accounting policies and methods of computation since the publication of annual accounts
for the year 2023.

3 Information on Ordinary Shares

For the Year Ended
31.03.2024 31.03.2023
(i) Market Price Per Share
Highest Rs. 22.40 *Not Traded 22.40 *Not Traded
Lowest Rs. 22.40 *Not Traded 22.40 *Not Traded
Last Traded Rs. 22.40 *Not Traded 22.40 *Not Traded

(ii) Float adjusted market capitalization - Rs. 44,800,000/-

(iii) The Public Shareholding as at 31 March 2024 is 10%

(iv) No of Public Shareholders - Two (2) Shareholders

(v) The Company is not in compliance with the minimum public holding reqirement specified in rule 7.13.1 (b) of
the listing rules as at reporting date. Steps to be adopted to comply by the Entity will be notified in due
cause.

(vi) Directors' Share Holdings as at 31 March 2024 - NIL

(vii) Top Share Holders as at 31 March 2024

No. of Shares %
Associated Motorways (Private) Limited 18,000,000 90.00
Trading Enterprises Company LLC 1,999,999 9.99
A A De Silva 1 0.01

31.03.2024 31.03.2023
(viii) Net Assets per Share (Rs.) 181.92 178.02

(ix) Number of shares representing the Entity’s Stated Capital as of 31 March 2024 is 20,000,000.

4 As of 31 March 2024, the Company had no contingent liability.

5 No circumstances have arisen subsequent to the Statement of Financial Position Date that require disclosure.
AMW CAPITAL LEASING AND FINANCE PLC
Selected Performance Indicators

31.03.2024 31.03.2023
Regulatory Capital Adequacy
Core Capital (Tier 1 Capital) Rs.'000 3,480,416 3,496,289
Total Capital Base Rs.'000 3,480,416 3,496,289
Tier 1 Capital Adequacy Ratio, as % of Risk Weighted Assets (Minimum 2023 - 8% , 2022 - 7%) 48.01% 39.32%
Total Capital Adequacy Ratio, as % of Risk Weighted Assets (Minimum 2023 - 12.5% , 2022 - 11%) 48.01% 39.32%
Capital Funds to Deposit Liabilities Ratio (Minimum 10%) 221% 234%

Profitability (%)
Interest Margin 6.51% 9.32%
Return on Assets (before tax) 0.24% -0.33%
Return on Equity -0.54% -0.83%

Regulatory Liquidity (Rs.'000)

Required Minimum Amount of Liquid Assets 169,498 165,565
Available Amount of Liquid Assets 1,645,749 1,459,172
Required Minimum Amount of Government Securities 137,945 143,252
Available Amount of Government Securities 1,394,429 1,235,000