SINGER FINANCE (LANKA) PLC

INTERIM FINANCIAL STATEMENTS FOR THE

SIX MONTHS ENDED 30TH SEPTEMBER 2023
 Interim Financial Statements for the Six Months Ended 30th September 2023
STATEMENT OF FINANCIAL POSITION

As At 30-September-2023 30-September-2022 31-Mar-2023

(Audited)
Rs.'000 Rs.'000 Rs.'000
ASSETS

Cash and Cash Equivalents 1,555,630 468,333 2,535,435

Placement with Banks 375,904 2,020,621 1,413,997
Financial assets at amortised cost-Hire Purchase Receivables - - -
Financial assets at amortised cost-Finance Lease Receivables 8,705,524 10,932,009 8,887,364
Financial assets at amortised cost-Loans and Advances 14,015,463 15,055,912 15,309,935
Financial assets measured at fair value through other comprehensive income 2,120 41 2,120
Financial assets at amortised cost-Debt and other financial instruments 7,057,268 1,794,355 2,013,992
Due from Related Companies 2,054 47,518 -
Other Debtors, and Prepayments 277,939 240,823 293,905
Deferred Tax Assets 128,837 127,661 113,392
Intangible Assets 86,494 80,286 80,387
Property, Plant & Equipment 650,600 570,521 623,902
Right-of-use assets / Lease assets 658,004 694,246 674,409
Total Assets 33,515,837 32,032,326 31,948,838

LIABILITIES

Financial liabilities at amortised cost-Due to Customers 21,535,584 16,131,528 19,195,604

Financial liabilities at amortised cost-Interest Bearing Loans & Borrowings 4,720,443 8,863,560 6,067,366
Lease Liabilities 752,721 765,461 757,645
Trade & Other Payables 438,984 416,218 473,935
VAT Payable 3,175 2,870 1,586
Due to Related Companies 43,332 7,223 115,795
Bank Overdraft 605,206 906,190 4,247
Current Tax Liabilities 95,765 88,273 228,893
Retirement Benefit Obligations 136,111 113,491 128,520
Total Liabilities 28,331,321 27,294,814 26,973,591

SHAREHOLDERS' FUND

Stated Capital 1,996,444 1,996,444 1,996,444

Reserve Fund 254,564 234,112 254,564
Fair Value Reserve of Financial Assets at FVOCI 2,079 - 2,079
Regulatory Loss Allowance Reserve 86,198 - -
Retained Earnings 2,845,231 2,506,956 2,722,160
Total Equity 5,184,516 4,737,512 4,975,247
Total Liabilities & Equity 33,515,837 32,032,326 31,948,838

Net Assets per share (Rs) 25.66 23.44 24.62

I certify that the financial statements of the Company comply with the requirements of the companies Act 07 of 2007

(Sgd.)
Eraj Fernando
Head of Finance

The above figures are provisional and subject to audit unless specified.

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.)
A.Perera Thushan Amarasuriya
Chairman Director/Chief Executive Officer

Colombo
31st October 2023

SINGER FINANCE (LANKA) PLC | 2

 Interim Financial Statements for the Quarter Ended 30th September 2023
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the quarter ended 30th September 2023 2022 Variance

Rs.'000 Rs.'000 Rs.'000 %

Gross Income 1,975,720 1,868,403 107,317 6%

Interest Income 1,863,005 1,764,340 98,665 6%

Less: Interest Expense 1,233,223 1,219,649 (13,574) (1%)
Net Interest Income 629,782 544,691 85,091 16%

Net Fee and Commission Income 95,743 94,816 927 1%

Trading Income 459 94 365 388%
Other Operating Income 16,513 9,153 7,360 80%
Total Operating Income 742,497 648,754 93,743 14%

Less: Impairment charges/(reversal) and Other Credit Losses on

Financial Assets (115,963) (34,232) 81,731 (239%)

Net Operating Income 858,460 682,986 175,474 26%

Less:- Expenses
Personnel Cost 260,394 215,020 (45,374) (21%)
Administration & Selling Expenses 327,963 263,477 (64,486) (24%)

Operating Profit Before Tax on Financial Services 270,103 204,489 65,614 32%

Less: VAT on Financial Services 82,656 66,130 (16,526) (25%)

Social Security Contribution Levy 11,202 - (11,202) 100%

Profit Before Income Tax 176,245 138,359 37,886 27%

Less: Income Tax Expense 58,573 52,555 (6,018) (11%)

Net profit for the Period 117,672 85,804 31,868 37%

Total Comprehensive Income for the Period 117,672 85,804 31,868 37%

Basic Earnings per Share (Rs) 0.58 0.42

SINGER FINANCE (LANKA) PLC | 3

 Interim Financial Statements for the Six Months Ended 30th September 2023
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the Six Months ended 30th September 2023 2022 Variance

Rs.'000 Rs.'000 Rs.'000 %

Gross Income 4,013,474 3,483,213 530,261 15%

Interest Income 3,829,800 3,275,067 554,733 17%

Less: Interest Expense 2,469,211 2,102,930 (366,281) (17%)
Net Interest Income 1,360,589 1,172,137 188,452 16%

Net Fee and Commission Income 154,095 171,875 (17,780) (10%)

Trading Income 629 249 380 153%
Other Operating Income 28,950 36,022 (7,072) (20%)
Total Operating Income 1,544,263 1,380,283 163,980 12%

Less: Impairment charges/(reversal) and Other Credit Losses on

Financial Assets (37,578) 30,813 68,391 222%

Net Operating Income 1,581,841 1,349,470 232,371 17%

Less:- Expenses
Personnel Cost 483,900 427,364 (56,536) (13%)
Administration & Selling Expenses 615,134 519,349 (95,785) (18%)

Operating Profit Before Tax on Financial Services 482,807 402,757 80,050 20%

Less: VAT on Financial Services 132,817 122,112 (10,705) (9%)

Social Security Contribution Levy 19,015 - (19,015) 100%

Profit Before Income Tax 330,975 280,645 50,330 18%

Less: Income Tax Expense 121,706 103,105 (18,601) (18%)

Profit for the Period 209,269 177,540 31,729 18%

Total Comprehensive Income for the Period 209,269 177,540 31,729 18%

Basic Earnings per Share (Rs) 1.04 0.88

SINGER FINANCE (LANKA) PLC | 4

 Interim Financial Statements for the Six Months Ended 30th September 2023
STATEMENT OF CHANGES IN EQUITY

For the Six Months ended 30th September

Attributable to Equity Holders of the Company

Stated Reserve Fair Value Reserve of Regulatory Loss Retained Total
Capital Fund Financial Assets at FVOCI Allowance Reserve Earnings
Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000
Balance as at 31st March 2022 1,996,444 234,112 - - 2,491,075 4,721,631

Total Comprehensive Income

Profit for the Period - - - - 177,540 177,540

Total Other Comprehensive Income for the Period - - - - - -

Total Comprehensive Income for the Period - - - - 177,540 177,540

Dividends - - - - (161,659) (161,659)

Total Transactions with Equity Owners - - - - (161,659) (161,659)

Balance as at 30th September 2022 1,996,444 234,112 - - 2,506,956 4,737,512

Total Comprehensive Income

Profit for the Period - - - - 231,504 231,504

Other Comprehensive Income

Employee Benefit Plan Actuarial Loss - - - 5,932 5,932
Tax on Other Comprehensive Income - - - (1,780) (1,780)
Gain from revaluation of Financial assets measured at FVOCI - - 2,079 - - 2,079
Total Other Comprehensive Income for the Period - - 2,079 - 4,152 6,231
Total Comprehensive Income for the Period - - 2,079 - 235,656 237,735

Transactions with Owners, Recorded Directly in Equity

Transferred to/(from) during the Period - 20,452 - - (20,452) -

Total Transactions with Equity Owners - 20,452 - - (20,452) -

Balance as at 31st March 2023 1,996,444 254,564 2,079 - 2,722,160 4,975,247

Total Comprehensive Income

Profit for the Period - - - - 209,269 209,269

Total Other Comprehensive Income for the Period - - - - - -

Total Comprehensive Income for the Period - - - - 209,269 209,269

Transferred to/(from) During the Period - - - 86,198 (86,198) -

Total Transactions with Equity Owners - - - 86,198 (86,198) -

Balance as at 30th September 2023 1,996,444 254,564 2,079 86,198 2,845,231 5,184,516

SINGER FINANCE (LANKA) PLC | 5

 Interim Financial Statements for the Six Months Ended 30th September 2023
CASH FLOW STATEMENT
For the Six Months ended 30th September 2023 2022

Rs.'000 Rs.'000
Cash Flows From Operating Activities

Profit Before Tax 330,975 280,645

Adjustments for
Non-Cash Items Included In Profit Before Tax
Interest Income from Investing Activities (382,025) (227,778)
Interest Income from Placement with Banks (335,243) (195,083)
Finance Cost 2,456,586 2,044,437
Depreciation/Amortization 133,944 116,019
(Profit)/ Loss on disposal of Property, Plant and Equipment (370) (20)
Profit on disposal on modification of ROU Asset (874) (1,654)
Provision for Define Benefit Plans - Gratuity 13,200 12,000
Provision for Bad Debt (37,578) 30,813
Securitization Issue Cost 6,122 26,458
Debenture Issue Cost 1,181 2,058

Operating Profit Before Changes In Operating Assets And Liabilities 2,185,918 2,087,895
Changes In;
Decrease in Lease Rentals Receivables 269,618 2,031,689
(Increase)/ Decrease in Loans and Advances 1,244,271 (1,700,419)
Decrease in Other Assets 15,966 5,686
(Increase)/Decrease in Due from Related Companies (2,054) (47,519)
Increase In Public Deposits 2,452,708 3,527,996
(Increase)/Decrease in amounts due to Related Companies (72,464) (65,238)
(Increase)/Decrease in Other Liabilities (33,350) (242,251)
Cash from/(used in) Operations 6,060,613 5,597,839

Finance costs paid (3,021,340) (1,702,535)

Retiring Gratuity Paid (5,610) (2,107)
Gratuity Transfer - 2,140
Income Tax Paid (270,279) (324,196)
Net Cash from/(used in) Operating Activities 2,763,384 3,571,141

Cash Flows from/(used in) Investing Activities

Acquisition of Property Plant & Equipment (93,861) (178,777)
Proceeds from Sale of Property, Plant & Equipment 370 186
Incurred on Software Development (12,704) (16,249)
Net Change in Investment Securities (4,952,118) (288,829)
Net Change in in Bank Deposits 1,036,197 (1,723,835)
Interest Income Received 628,005 210,977
Net Cash Flows from/ (used in) Investing Activities (3,394,111) (1,996,527)

Cash Flows from/(used in) Financing Activities

Issue Of Securitization - 2,000,000
Loans Obtained During the Period Other Than Related Party 3,500,000 1,000,000
Repayment of Loans Other Than Related Party (2,310,450) (3,389,935)
Repayment of Debenture (1,003,000) -
Repayment of Securitization (1,039,100) (1,565,562)
Securitization Issue Cost - (30,326)
Lease Rentals Paid (97,474) (104,864)
Dividends Paid (14) (159,437)
Net Cash Flows from/ (used in) Financing Activities (950,038) (2,250,124)

Net increase/(Decrease) in Cash and Cash Equivalents (1,580,765) (675,510)

Cash and Cash Equivalents at the beginning of the Period 2,531,188 237,653
Cash and Cash Equivalents at the end of the Period 950,423 (437,857)

Note-01
Cash and Cash Equivalents 1,555,630 468,333
Bank Overdraft (605,207) (906,190)
Cash and Cash Equivalents at the end of the Period 950,423 (437,857)

SINGER FINANCE (LANKA) PLC | 6

 Interim Financial Statements for the Quarter Ended 30th September 2023
Notes to the Financial Statements
FINANCIAL REPORTING BY SEGMENTS AS PER PROVISION OF THE SRI LANKA ACCOUNTING STANDARD SLFRS 8
The primary business segment reporting format is determined based on the nature of the products and services provided, with each segment representing a strategic business unit
that offers different product and serves different markets

The following table presents financial information regarding business segments:

Business Segments (Rs.'000)

Finance Lease Loan & Advances Other Total

For the quarter ended 30th September 2023 2022 2023 2022 2023 2022 2023 2022

Interest Income 519,097 632,359 982,773 856,831 361,135 275,150 1,863,005 1,764,340

Net Fee and Commission Income 19,727 15,914 75,817 78,892 199 10 95,743 94,816
Net Trading Income - - - - 459 94 459 94
Other Operating Income 3,122 2,478 12,461 6,250 930 425 16,513 9,153

Total Revenue 541,946 650,751 1,071,051 941,973 362,723 275,679 1,975,720 1,868,403

Interest Expense (342,467) (445,892) (652,104) (587,935) (238,652) (185,822) (1,233,223) (1,219,649)
Depreciation & Amortization (23,295) (25,332) (44,557) (34,526) - - (67,852) (59,858)
Period S&A (177,215) (176,271) (343,290) (242,368) - - (520,505) (418,639)
Impairment charges/(reversals) and Other
Credit Losses on Financial Assets 43,896 31,684 72,067 2,548 - - 115,963 34,232
Less: VAT on Financial Services (22,383) (23,736) (44,478) (32,098) (15,795) (10,296) (82,656) (66,130)
Social Security Contribution Levy (3,051) - (6,004) - (2,147) - (11,202) -

Profit Before Tax 17,431 11,204 52,685 47,594 106,129 79,561 176,245 138,359

Income Tax Expense (3,628) (4,256) (20,774) (18,079) (34,171) (30,220) (58,573) (52,555)

Profit After Tax 13,803 6,948 31,911 29,515 71,958 49,341 117,672 85,804

Segment Assets 9,674,703 11,731,066 15,575,794 16,156,399 8,265,340 4,144,861 33,515,837 32,032,326

Segment Liabilities 8,178,138 9,996,067 13,166,397 13,766,902 6,986,787 3,531,845 28,331,321 27,294,814

* Segment assets include the additions to

non current assets 16,535 48,800 26,160 72,645 21,995 15,677 64,690 137,122

** Interest Income given under the business segment "other" includes investment income from government securities and bank deposits amounting to Rs. 361Mn
(2023/24) and Rs. 269Mn (2022/23)

SINGER FINANCE (LANKA) PLC | 7

 Interim Financial Statements for the Six Months Ended 30th September 2023
Notes to the Financial Statements
FINANCIAL REPORTING BY SEGMENTS AS PER PROVISION OF THE SRI LANKA ACCOUNTING STANDARD SLFRS 8
The primary business segment reporting format is determined to be business segment as nature of the products and services provided, with each segment representing a strategic
business unit that offers different product and serves different markets

The following table presents financial information regarding business segments:

Business Segments (Rs.'000)

For the Six Months ended 30th Finance Lease Loans & Advances Other Total
September 2023 2022 2023 2022 2023 2022 2023 2022

Interest Income 996,555 1,326,271 2,115,553 1,514,339 717,692 434,457 3,829,800 3,275,067

Net Fee and Commission Income 30,235 31,296 123,517 140,561 343 18 154,095 171,875
Trading Income - - - - 629 249 629 249
Other Operating Income 5,843 4,427 24,007 10,854 (900) 20,741 28,950 36,022

Total Revenue 1,032,633 1,361,994 2,263,077 1,665,754 717,764 455,465 4,013,474 3,483,213
Interest Expense (642,515) (851,603) (1,363,974) (972,362) (462,722) (278,965) (2,469,211) (2,102,930)
Depreciation & Amortization (42,892) (54,169) (91,053) (61,850) - - (133,945) (116,019)
Period S&A (309,040) (387,848) (656,049) (442,846) - - (965,089) (830,694)
Impairment charges/(reversals) and Other
Credit Losses on Financial Assets 87,779 9,649 (50,201) (40,462) - - 37,578 (30,813)
Less: VAT on Financial Services (34,560) (49,450) (73,367) (56,463) (24,889) (16,199) (132,817) (122,112)
Social Security Contribution Levy (4,948) - (10,504) - (3,563) - (19,015) -

Profit Before Income Tax 86,457 28,573 17,929 91,771 226,589 160,301 330,975 280,645

Income Tax Expense (31,792) (10,497) (6,593) (33,715) (83,321) (58,893) (121,706) (103,105)

Profit After Tax 54,665 18,076 11,336 58,056 143,268 101,408 209,269 177,540

Segment Assets 9,674,703 11,731,066 15,575,794 16,156,399 8,265,340 4,144,861 33,515,837 32,032,326

Segment Liabilities 8,178,138 9,996,067 13,166,397 13,766,902 6,986,787 3,531,845 28,331,321 27,294,814

* Segment assets include the additions to

non current assets 30,760 71,423 49,523 98,366 26,280 25,236 106,563 195,025

** Interest Income given under the business segment "other" includes investment income from government securities and bank deposits amounting to Rs.717Mn
(2023/24) and Rs. 423Mn (2022/23)

SINGER FINANCE (LANKA) PLC | 8

 Interim Financial Statements for the Six Months Ended 30th September 2023
Notes to the Financial Statements

1 The Interim Financial Statements of the Company have been prepared on the basis of the same accounting policies and methods applied for the year ended
31st March 2023.
These Interim Financial Statements are in compliance with Sri Lanka Accounting Standards 34 - 'Interim Financial Reporting' and provide the information as
required in terms of Rule 7.4 of the Colombo Stock Exchange.

2 COMMITMENTS & CONTINGENCIES

There are no significant capital commitments which have been approved or contracted for by the company as at 30th September 2023 except following,

2.1 Operating Lease Commitments as at 30th September 2023

Within One Year - Rs. 10.87 million

2.2 (a) As at 30th September 2023, the Company has provided letters of guarantee totalling to Rs. 2,000,000/- against Fixed Deposits of Rs. 2,000,000/- .

2.3 Assets Pledged as Securities

Company has given a negative pledge amounting to Rs.6,498,050,000/- over the Company's Lease receivable and Loans for the following banks over Loans,
Overdrafts, Securitization & Debentures having a carrying value of Rs.4,698,500,000/- as at 30th September 2023.

Bank Exposure Type of Facility Carrying Value Amount Pledged

Rs. Rs.
130% of the Banks's Loan 500,000,000
Sampath Bank 1,040,000,000
exposure Overdraft Facility 300,000,000
150% of the Banks's Overdraft Facility
Commercial Bank 200,000,000 300,000,000
exposure
130% of the Banks's Loan 550,000,000
Seylan Bank 1,040,000,000
exposure Overdraft Facility 250,000,000
130% of the Banks's Loan 880,000,000
Nations Trust Bank 1,404,000,000
exposure Overdraft Facility 200,000,000
130% of the Banks's Loan
Cargills Bank 200,000,000 260,000,000
exposure
130% of the Banks's Loan
Bank of Ceylon 300,000,000 390,000,000
exposure
Pan Asia Bank 200% of the Company
Loan 500,000,000 1,000,000,000
Corporation explosure

Trustee (Hatton National

130% of the Banks's
Bank & National Savings Securitization 818,500,000 1,064,050,000
exposure
Bank)

4,698,500,000 6,498,050,000

2.4 (a) Case bearing No. 404 has been filled against Singer Finance (Lanka) PLC by a customer in the District Court of Ampara claiming Rs. 2,000,000/- as
damages caused by repossessing and selling of a vehicle leased through the Company. The case will be called on 20th November 2023 for further trial.

(b) Further, the Company has received summons for case number 004674/21DMR clamming Rs.3,800,000/- as damages. The case will be called on 25th
January 2024 for proxy and answer.
The lawyers of the Company are of the view that the ultimate resolution of these litigations would not likely to have a material impact.

3 EVENTS AFTER THE REPORTING PERIOD

There have been no material events occurring after the Reporting date which require adjustments to or disclosure in the financial statements.

SINGER FINANCE (LANKA) PLC | 9

 Interim Financial Statements for the Six Months Ended 30th September 2023
Notes to the Financial Statements
4 FAIR VALUE MEASUREMENT HIERARCHY

The following table shows the carrying amounts and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy. It does not
include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

Amortised Cost Fair value Other Financial Fair Fair Value

As at 30th -September-2023 through OCI Liabilities Total Value Measurement
Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Level
Financial Assets
Cash and Cash Equivalents 1,555,630 - - 1,555,630 - -
Placement with Banks 375,904 - - 375,904 - -
Financial assets at amortised cost-Hire Purchase Receivables - - - - - -
Financial assets at amortised cost-Finance Lease Receivables 8,705,524 - - 8,705,524 - -
Financial assets at amortised cost-Loans and Advances 14,015,463 - - 14,015,463 - -
Financial assets measured at fair value through other
comprehensive income - 2,120 - 2,120 2,120 Level 3
Financial assets at amortised cost-Debt and other financial
instruments 7,057,268 - - 7,057,268 7,043,698 Level 2
Due from Related Companies 2,054 - - 2,054 - -
Total Financial Assets 31,711,843 2,120 - 31,713,963 7,045,818 -

Financial Liabilities
Other Financial Liabilities Due to Customers - - 21,535,584 21,535,584 - -
Interest Bearing Loans & Borrowings-Debenture - - 2,094,790 2,094,790 - -
Interest Bearing Loans & Borrowings-Bank Loans - - 1,734,182 1,734,182 - -
Interest Bearing Loans & Borrowings-Securitization - - 891,471 891,471 - -
Due to Related Companies - - 43,332 43,332 - -
Lease Liabilities - - 752,721 752,721 - -
Bank Overdraft - - 605,206 605,206 - -
Trade Payables - - 438,984 438,984 - -
Total Financial Liabilities - - 28,096,270 28,096,270 - -

Amortised Cost Fair value Other Financial Fair Fair Value

As at 30th-September-2022 through OCI Liabilities Total Value Measurement
Financial Assets Rs.'000 Rs.'000 Rs.'000 Rs.'000 Rs.'000 Level
Cash and Cash Equivalents 468,333 - - 468,333 - -
Placement with Banks 2,020,621 - - 2,020,621 - -
Financial assets at amortised cost-Hire Purchase Receivables - - - - - -
Financial assets at amortised cost-Finance Lease Receivables 10,932,009 - - 10,932,009 - -
Financial assets at amortised cost-Loans and Advances 15,055,912 - - 15,055,912 - -
Financial assets measured at fair value through other
comprehensive income - 41 - 41 41 Level 3
Financial assets at amortised cost-Debt and other financial
instruments 1,794,355 - - 1,794,355 1,790,930,273 Level 2
Due from Related Companies 47,518 - - 47,518 - -
Total Financial Assets 30,318,748 41 - 30,318,789 1,790,930,314 -

Financial Liabilities
Other Financial Liabilities Due to Customers - - 16,131,528 16,131,528 - -
Interest Bearing Loans & Borrowings-Debenture - - 3,217,721 3,217,721 - -
Interest Bearing Loans & Borrowings-Bank Loans - - 1,852,293 1,852,293 - -
Interest Bearing Loans & Borrowings-Securitization - - 3,793,546 3,793,546 - -
Interest Bearing Loans - Related party - - - -
Due to Related Companies - - 7,223 7,223 - -
Lease Liabilities - - 765,461 765,461 - -
Bank Overdraft - - 906,190 906,190 - -
Trade Payables - - 416,218 416,218 - -
Total Financial Liabilities - - 27,090,180 27,090,180 - -

Amortized cost for Hire Purchase receivables , Lease receivables , Loans and Advances and Liabilities is computed using market interest rate. Therefore amortized
cost is a reasonable approximation to its Fair value. The Company has used market yield rates published by Central Bank for the fair value computation of Financial
assets at amortised cost-Debt and other financial instruments.

Net assets of the investment is considered as the fair value of unquoted equity shares (Financial assets measured of fair value through other comprehensive income)
due to the absence of most recent exist prices.

5 REGULATORY LOSS ALLOWANCE RESERVE

As per the Section 7.1 of the Finance Business Act Direction No. 01 of 2020 (Classification and measurement of Credit Facilities), the Company requires to create a
non-distributable regulatory loss allowance reserve through an appropriation of retained earnings, where the loss allowance for expected credit loss (ECL) falls below
the regulatory provision (CBSL). Accordingly, the company has transferred Rs. 86,197,978/=/- from retained earnings to regulatory loss allowance reserve during the
period.
SINGER FINANCE (LANKA) PLC | 10
 Interim Financial Statements for the Six Months Ended 30th September 2023
Investor Information

LISTED DEBENTURES
Details regarding the listed Debentures are as follows.
Face Value Interest Date of Interest rate of Comparable Government
Type Rs. Frequency Interest Rate Allotment Maturity Date Securities

2020-Type - C 5,000,000 Annually 13.25% 19-May.-2020 19-May.-2025 as at 15th April 2020 was 8.7%

2021- Type - A 583,220,000 Annually 9.25% 25-June-2021 25-June-2026 as at 15th June 2021 was 7.31%
1 Year T-Bill Rate
2021- Type - B 1,416,780,000 Annually +3.75% P.A 25-June-2021 25-June-2026 as at 15th June 2021 was 7.31%

Interest rate of Comparable Government Securities as at 30th September 2023 were 13.30% (01 Year Treasury Bill) and 15.64% (03 Years Treasury Bond)

Ratios 30th-September-2023 30th-September-2022

Debt Equity Ratio 5.33 5.63
Interest Cover 1.13 1.13
Quick Assets Ratio 1.16 1.20
Liquid Asset Ratio 35.29% 13.95%
Tier I Ratio 18.37% 17.03%
Total Capital Ratio 22.74% 22.59%

5DIRECTORS' AND CEO'S DEBENTURE HOLDING AS AT 30TH SEPTEMBER 2023

Name of the Director No of Debentures No of Debentures

30th-September-2023 30-September-2022
Mr. Aravinda Perera - -
Mr. Jayanth Perera - -
Ms. Darshini Talpahewa - -
Mr. Thushan Amarasuriya (Chief Executive Officer/Executive Director) - -
Mr. Mahesh Wijewardene - -
Mr. Ranil De Silva - -
Mr. Saman Herath

6INFORMATION ON ORDINARY SHARES

a)
Stated Capital 30th-September-2023 30th-September-2022

Value-Ordinary Shares Rs.1,996,444,457 Rs.1,996,444,457

No of Shares-Ordinary Shares 202,074,075 202,074,075
Voting Rights One Vote per One Vote per Ordinary
Ordinary Share Share
b)
Share Price
Quarter Ended
30th-September-2023 30th-September-2022
Highest 15.50 11.90
Lowest 12.20 9.80
Last Traded 13.20 11.50

Six Months Ended

30th-September-2023 30th-September-2022

Highest 15.50 14.00

Lowest 10.50 9.20
Last Traded 13.20 11.50

SINGER FINANCE (LANKA) PLC | 11

 Interim Financial Statements for the Six Months Ended 30th September 2023
Investor Information
c)
Twenty Largest holders of Shares as at 30th September 2023

Name No of Shares %
1 Singer (Sri Lanka) PLC 161,513,035 79.93
2 Employees Trust Fund Board 3,440,878 1.70
3 Mr. A. M. Weerasinghe 3,181,765 1.57
4 Associated Electrical Corporation Ltd 3,147,500 1.56
5 Mr. A. M. C. S. Atapattu 1,466,266 0.73
6 J.B. Cocoshell (Pvt) Ltd 1,214,282 0.60
7 Mr. M. L. Ajit Benedict 1,069,278 0.53
8 Mr. S. Vasudevan & Mrs. V. Saraswathi 693,650 0.34
9 United Motors Lanka PLC 679,224 0.34
10 Mr. Ram Pritamdas, Mr. D. Pritamdas & Miss. L.P. Hathiramani 605,000 0.30
11 Mrs. V. Saraswathi & Mr. S. Vasudevan 575,000 0.28
12 People's Leasing & Finance PLC/ L.P. Hapangama 570,738 0.28
13 Unimo Enterprises Ltd. 521,885 0.26
14 Mr. D. C. P. De Silva Siriwardane 480,152 0.24
15 A E C Properties ( Pvt ) Ltd. 440,000 0.22
16 Hatton National Bank PLC/ Mr. Arunasalam Sithampalam 420,944 0.21
17 Trading Partners (Pvt) Ltd. 391,910 0.19
18 Mr. L.N.S. Kumara Samarasinghe 355,000 0.18
19 Mercantile Investments and Finance PLC 296,760 0.15
20 Mr. V.G.K. Vidyaratne 250,555 0.12
181,313,822 89.73
Others 20,760,253 10.27
202,074,075 100.00

d)
Directors' and CEO's Shareholding as at 30th September 2023

Name of the Director Shareholding Shareholding

30-September-2023 30-September-2022
No of Shares No of Shares

Mr. Aravinda Perera - -

Mr. Jayanth Perera - -
Ms. Darshini Talpahewa - -
Mr. Thushan Amarasuriya (Chief Executive Officer/Executive Director) 50,155 50,155
Mr. Mahesh Wijewardene - -
Mr. Ranil De Silva - -
Mr. Saman Herath - -
50,155 50,155

e)
Public Holding
30th-September-2023 30th-September-2022
No of Share Holders 6,004 6,161
No of Shares 40,510,885 40,510,885
% of Public Holding 20.05% 20.05%
Float Adjusted Market Capitalization Rs. 526,706,076/- Rs. 465,932,298/-
The Company is Compliant with option 5 of the Listing Rules 7.14.1 (a) - Less than Rs.2.5Bn Float Adjusted Market Capitalization which requires 20%
minimum Public Holding

SINGER FINANCE (LANKA) PLC | 12

 Interim Financial Statements for the Six Months Ended 30th September 2023
Corporate Information

Name of the Company Human Resources and Remuneration Committee

Singer Finance (Lanka) PLC Mr. Jayanth Perera - Chairman/Senior INED
Mr. Aravinda Perera - NED
Legal Form Mr. Ranil De Silva - INED
A public limited Company incorporated in Sri Lanka on 19th April 2004 Mr. Saman Herath - INED
under the Companies Act No. 17 of 1982 and re-registered under the Companies
Act No. 07 of 2007 on 16th December 2008. Shares of the Company are listed Nominations & Governance Committee
on the main board of Colombo Stock Exchange on 17th January 2011. Mr. Jayanth Perera - Chairman/Senior INED
Mr. Aravinda Perera - NED
Auditors Mr. Ranil De Silva - INED
KPMG Mr. Saman Herath - INED
Chartered Accountants
No.32A, Related Party Transactions Review Committee
Sir Mahamed Macan Markar Mawatha, P.O.Box 186, Colombo 03. Mr. Ranil De Silva - Chairman/INED
Mr. Jayanth Perera - Senior INED
Company Secretary Mr. Saman Herath - INED
Mr. Lasitha Dias
TP: 0112-100161 Registered Office
No. 498, R. A De Mel Mawatha
Registars Colombo 03.
Hayleys Group Services (Pvt) Ltd TP: 011-2400400
TP: 0112-627000 Fax : 011-2303715
E-mail- financecompany@singersl.com
Lawyers
Neelakandan & Neelakandan Company registration Number
Attorneys-at-Law & Notaries Public M&N Building (Level 5) Old – N (PBS) 1171 New – PB 813 PQ
No.02, Deal Place, Colombo 03.
Tax Payer Identification Number
Directorate 134011718
Mr. Aravinda Perera - Chairman/NED
Mr. Jayanth Perera - Senior INED Investor Relations
Mr. Thushan Amarasuriya - CEO/ED Please contact the Company Secretary
Ms. Darshini Talpahewa - NED Mr. Lasitha Dias
Mr. Mahesh Wijewardene - NED TP: 0112-100161
Mr. Ranil De Silva - INED E-mail- financecompany@singersl.com
Mr. Saman Herath - INED

* NED- Non- Executive Director

** INED- Independent Non- Executive Director
*** ED- Executive Director
**** Senior INED- Senior Independent Non- Executive Director

Audit Committee
Mr. Ranil De Silva - Chairman/INED
Mr. Jayanth Perera - Senior INED
Mr. Aravinda Perera - NED
Mr. Saman Herath - INED

SINGER FINANCE (LANKA) PLC | 13