ENL INVESTMENT LIMITED
UNAUDITED INTERIM FINANCIAL STATEMENTS‐ SEPTEMBER 30, 2013

A summary of the financial statements o...
Data per share
Earnings/(loss) attributable to equity holders of the company (Rs '000)
Number of shares in issue ('000 )
E...
3. CONDENSED STATEMENTS OF CASH FLOWS
THE GROUP

THE COMPANY

Quarter 
Quarter 
Quarter 
ended Sep  ended Sep 30,  ended S...
At Sep 30, 2013

1,612,984

3,276,886

1,005,293

5,895,163

COMMENTS ON QUARTERLY RESULTS
Rogers was consolidated as a su...
Upcoming SlideShare
Loading in...5
×

ENL Investment Limited 1Q 2014

114

Published on

ENL Investment Limited 1Q 2014

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
114
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

ENL Investment Limited 1Q 2014

  1. 1. ENL INVESTMENT LIMITED UNAUDITED INTERIM FINANCIAL STATEMENTS‐ SEPTEMBER 30, 2013 A summary of the financial statements of the Group and the Company for the quarter ended September 30, 2013  together with the comparative figures for the quarter ended September 30, 2012 is given below.  1. CONDENSED STATEMENTS OF FINANCIAL POSITION THE GROUP THE COMPANY Sep 30, 2013 June 30, 2013 Sep 30, 2013 June 30, 2013 Restated Rs'000 Rs'000 Rs'000 Rs'000 ASSETS Property, plant and equipment Investment properties Investments in subsidiary companies Investments in associated companies Other non current assets Current assets Total assets 7,157,700 7,155,300                 ‐                   ‐ 3,380,200 2,574,700                 ‐                   ‐                  ‐                   ‐ 4,748,590 4,748,590 7,230,934 6,152,698 1,357,876 1,320,930 1,160,248 1,159,402 116,348 120,002 3,136,830 2,840,722 308,630 370,960 22,065,912 19,882,822 6,531,444 6,560,482 EQUITY AND LIABILITIES Equity holders' interests Non‐controlling interests 6,987,610 7,990,221 Total equity and reserves Non‐current liabilities Current liabilities 14,977,831 3,568,119 3,519,962 13,645,511 2,991,140 3,246,171 5,895,163 534,819 101,462 5,877,352 437,140 245,990 Total equity and liabilities 22,065,912 19,882,822 6,531,444 6,560,482 6,994,105 5,895,163 5,877,352 6,651,406                 ‐                   ‐ 2. CONDENSED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME THE GROUP THE COMPANY Quarter  Quarter  Quarter  ended Sep  ended Sep 30,  ended Sep  30, 2012 2013 30, 2013 Rs '000 Rs '000 Rs '000 Revenue       1,365,156                6,946              4,155 Operating profit/(loss) Excess of fair value of the share of net assets over acquisition price Fair value loss on held for trading securities Share of results of associated companies and jointly controlled entities Finance costs             37,860             72,800                 (678)             29,293           (74,633)               (3,850)                    ‐                  (678)                    ‐            (11,033)             (3,105)                  ‐             (4,959)                  ‐             (9,692) Profit/(loss) before taxation  Income tax expense             64,642            (15,561)           (17,756)           (15,200)                    ‐                  ‐ Profit/(loss) after taxation              49,442 Other comprehensive income Fair value adjustment on available for sale securities Share of comprehensive income of associates Exchange difference on translation of foreign entities           (20,654)              33,292               1,012                    ‐              (8,800)                    ‐        (227,028)                  ‐                  ‐ Other comprehensive income for the period           (28,442)              33,292        (227,028) Total comprehensive income for the period             21,000              17,731        (244,784) Profit/(loss) after taxation attributable to:‐ Equity holders of the company Non‐controlling interests             12,752             36,690            (15,561)           (17,756)                    ‐                  ‐             49,442            (15,561)           (17,756) Total comprehensive income attributable to : Equity holders of the company Non‐controlling interests             (15,561)           (17,756)              (6,294)              17,731             27,294                    ‐        (244,784)                  ‐             21,000              17,731        (244,784)
  2. 2. Data per share Earnings/(loss) attributable to equity holders of the company (Rs '000) Number of shares in issue ('000 ) Earnings/(loss) per share (Re) Net asset value per share (Rs)  12,752            (15,561)           (17,756) 86,289 86,289 86,289                 0.15                 (0.18)               (0.21)               80.98                68.32              68.11
  3. 3. 3. CONDENSED STATEMENTS OF CASH FLOWS THE GROUP THE COMPANY Quarter  Quarter  Quarter  ended Sep  ended Sep 30,  ended Sep  30, 2012 2013 30, 2013 Rs '000 Rs '000 Rs '000 Net cash flows from operating activities Net cash flows from investing activities  Net cash flows from financing activities         209,110          102,132             3,044        (577,712)         (152,720)           (56,095)         157,650              21,512           (82,485) Net movement in cash and cash equivalents Opening cash and cash equivalents Effect of exchange rate changes        (210,952)           (29,076)       (135,536)          (80,409)              28,975          132,149             16,700                   ‐                 ‐ Closing cash and cash equivalents        (274,661)                 (101)            (3,387) 4. SEGMENT INFORMATION Quarter  ended Sep  30, 2013 Rs '000 REVENUE Aviation Agro industry Investments and financial services Hospitality Logistics and technology Property 107,560 0 14,339 312,405 724,154 206,698 1,365,156 SEGMENT RESULTS AFTER TAXATION Aviation Agro industry Investments and financial services Hospitality Logistics and technology Property 10,000 24,515 53,449 (97,522) 38,000 21,000 49,442 5. CONDENSED STATEMENTS OF CHANGES IN EQUITY Fair value  and other  reserves Rs'000 Retained  earnings Rs'000 Non‐ controlling  interests Rs'000 THE GROUP Associated  Share capital  companies Rs'000 Rs'000 At July 1, 2013 Prior year adjustment‐ effect of adopting revised IAS 19 1,612,984                  ‐ As restated Effect of change in ownership not resulting in loss of control Issue of shares in subsidiaries to non controlling shareholders Transfers Profit for the period Other comprehensive income for the period Dividends paid by subsidiaries to non controlling shareholders 1,612,984 1,386,851 416,307 3,559,605 6,975,747 6,651,285 13,627,032                  ‐                   ‐ (717) 18,874 18,157 3,542 21,699                  ‐                   ‐                 ‐                   ‐                  ‐ 1,309,600 1,309,600                  ‐ (179) 26,580 (26,401)                  ‐                    ‐              ‐                  ‐ 5,147                 ‐ 7,605 12,752 36,690 49,442                  ‐ (3,994) (16,556) 1,504 (19,046) (9,396) (28,442)                  ‐                   ‐                 ‐                   ‐                  ‐ (1,500) (1,500) At Sep 30, 2013 1,612,984 1,435,980 416,307 (49,129)                 ‐ 1,387,825 Fair value and  other  reserves Share capital  Rs'000 Rs'000 THE COMPANY At July 1, 2012 Profit for the period Other comprehensive income for the period At Sep 30, 2012 At July 1, 2013 Profit for the period Other comprehensive income for the period 425,614 Retained  earnings Rs'000 1,612,984 2,452,036 743,484                  ‐                   ‐ (17,756)                  ‐ (227,028)                 ‐ 1,612,984 2,225,008 3,541,746 17,859 3,561,187 Total Rs'000 4,808,504 (17,756) (227,028) 725,728 4,563,720 1,612,984 3,243,594 1,020,854                  ‐                   ‐ (15,561)                  ‐ 33,292                 ‐ 5,877,432 (15,561) 33,292 Total Rs'000 7,007,017 (31,270) 6,987,610 Total Rs'000 6,651,080 13,658,097 205 (31,065) 7,990,221 14,977,831
  4. 4. At Sep 30, 2013 1,612,984 3,276,886 1,005,293 5,895,163 COMMENTS ON QUARTERLY RESULTS Rogers was consolidated as a subsidiary as from 1 October 2012 and thus no comparatives are available for the first quarter ended 30 September  2013. The acquisition by Ascencia of the shares held by ENL Property in Bagaprop (owner of the Bagatelle mall), Kendra and Les Allées d'Helvétia  Commercial Centre was effective as from 1 July 2013.  The acquisitions were effected at below net asset value yielding a profit of Rs 73m on  consolidation. The quarter under review being the low season for the tourism industry, losses were incurred during this period. Notes: The above condensed quarterly financial statements to 30 September 2013 are unaudited. They have been prepared using the same accounting  policies and methods of computation followed per the audited financial statements for the year ended 30 June 30 2013. The above condensed financial statements are issued pursuant to DEM Rule 17 and section 88 of the Securities Act 2005. Copies of this report are available free of charge to the public at the registered office of the Company at ENL House, Vivéa Business Park, Moka. Copies of the statement of direct and indirect interests of the senior officers of the company pursuant to rule 8(2)(m) of the Securities (Disclosure  Obligations of Reporting Issuers) Rules 2007 are available free of charge to the public upon request to the Company Secretary at the Registered  Office of the Company at ENL House, Vivéa Business Park, Moka. The Board of Directors of ENL Investment Limited accepts full responsibility for the accuracy of the information contained in this communiqué. By order of the Board ENL Limited Company secretary 15 November 2013 The disposal of the group's interests in Bagaprop, Kendra and Les Allées d'Helvétia Commercial Centre to Ascencia, which was subject to  shareholder's approval, was effected during the quarter and gave rise to a profit of Rs 37m. Following this transaction Ascencia is now  shareholder s approval, was effected during the quarter and gave rise to a profit of Rs 37m. Following this transaction Ascencia is now consolidated as an associated company with a 32.67% holding.

×