Interim Financial Statements

For the period ended

31st December 2024
eChannelling PLC
STATEMENT OF PROFIT OR LOSS AND OTHER COMPRIHENSIVE INCOME

For the period ended 31.12.2024

Quarter Ended 31st December Year Ended 31st December

Un-audited Audited Un-audited Audited
2024 2023 2024 2023
LKR LKR LKR LKR

Revenue 66,036,775 72,251,860 255,897,318 271,193,906

Cost of Sales/Direct Cost (14,554,427) (19,134,706) (57,146,667) (64,209,472)

Gross Profit 51,482,347 53,117,154 198,750,652 206,984,435

Net Other Operating Income 1,648,532 264,997 3,085,396 502,875

Administrative Expenses (40,809,830) (40,827,571) (166,271,396) (168,512,037)

Marketing & Distribution Expenses (7,559,639) (6,879,601) (19,524,445) (23,190,373)

Profit From Operations 4,761,410 5,674,979 16,040,207 15,784,901

Finance Income 7,712,537 7,589,247 30,820,657 44,141,063

Finance Expenses (120,047) (30,477) (890,144) (384,233)

Net Finance (Expenses) / Income 7,592,490 7,558,770 29,930,514 43,756,830

Profit Before Taxation 12,353,900 13,233,749 45,970,720 59,541,731

Income Tax Expenses (2,616,433) (1,390,026) (14,023,572) (15,715,121)

Profit for the Period 9,737,467 11,843,723 31,947,148 43,826,610

Other Comprehensive Income
Equity Investment at FVOCI-net change in Fair Value 863,826 (626,572) 1,179,314 (170,551)
Re-measurement of defined benefit liability (2,655,307) (3,123,957) (1,014,914) (2,767,665)
Related tax 796,592 937,187 304,474 830,299

Other Comprehensive Income for the Period, net of tax (994,889) (2,813,342) 468,874 (2,107,916)
Total Comprehensive Income for the Period 8,742,578 9,030,381 32,416,022 41,718,694

Earnings Per Share 0.08 0.10 0.26 0.36

Dividends Per Share - - - -

The notes to the Financial Statements form an integral part of these Financial Statements.
Figures in brackets indicate deductions.
eChannelling PLC
STATEMENT OF FINANCIAL POSITION
As at 31st December 2024
31.12.2024 31.12.2023
LKR LKR
Un-audited Audited

ASSETS
Non Current Assets
Property, plant & equipment 3,381,121 2,492,970
Intangible assets 1,150,672 3,534,524
Leasehold right-of-use asset 5,344,398 -
Deferred tax assets 9,153,823 8,092,565
Equity Investments at FVOCI 3,355,729 2,175,669
Total Non Current Assets 22,385,743 16,295,728

Current Assets
Inventories 288,465 288,465
Trade & other receivables 246,709,085 179,898,773
Amount due from related parties 82,482,357 64,125,164
Short term investments 324,895,734 305,359,349
Cash & cash equivalents 31,672,517 22,533,803
Total Current Assets 686,048,158 572,205,554
Total Assets 708,433,901 588,501,282
EQUITY AND LIABILITIES
Equity
Stated capital 93,758,316 93,758,316
Retained earnings 379,967,419 348,730,710
Fair value through OCI reserve 1,785,443 606,130
Total Equity 475,511,178 443,095,157
Non Current Liabilities
Employee benefits 11,727,310 11,218,981
Total Non Current Liabilities 11,727,310 11,218,981

Current Liabilities
Trade & other payables 129,007,092 89,100,372
Leashold right to use liability 9,594,513 1,488,321
Amount due to related parties 71,265,454 36,041,242
Income tax liability 3,101,399 4,589,934
Bank Overdraft 8,226,955 2,967,274
Total Current Liabilities 221,195,413 134,187,143
Total Liabilities 232,922,723 145,406,124
Total Equity & Liabilities 708,433,901 588,501,282
Net Asset Per Share 3.89 3.63

I certify that these financial statements have been prepared in compliance with the requirements of the
Companies Act No 7 of 2007.

Signed
R.P.S.P. Randeni
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:

Signed Signed
Dr. Mothilal De Silva S.A.Hettiarachchi
Chairman Director

Date: 27.02.2025 `

Figures in the brackets indicate deductions.

The above figures are provisional and subject to audit.

 eChannelling PLC
STATEMENT OF CHANGES IN EQUITY

For the Period Ended 31st December 2024

Stated Capital Available for- Retained Total
sale Reserve Earnings
LKR LKR LKR LKR

Balance as at 31st December 2022 93,758,316 776,681 306,841,467 401,376,464

Total Comprehensive income for the period

Profit for the period - - 43,826,610 43,826,610

Other comprehensive income

Actuarial gain arising from defined benefit obligation, net of tax (1,937,365) (1,937,365)
Fair value gain of investments valued at FVTOCI - (170,551) (170,551)

Balance as at 31 st December 2023 93,758,316 606,130 348,730,711 443,095,158

Balance as at 01st January 2024 93,758,316 606,130 348,730,710 443,095,158

Total Comprehensive income for the perod

Profit for the year 31,947,148 31,947,148
-
Other comprehensive income -
Actuarial gain arising from defined benefit obligation, net of tax (710,440) (710,440)
Fair value gain of investments valued at FVTOCI 1,179,314 1,179,314

Balance as at 31st December 2024 93,758,316 1,785,443 379,967,419 475,511,180

Figures in the brackets indicate deductions.

The above figures are provisional and subject to audit.
eChannelling PLC
CASH FLOW STATEMENT

For the period ended 31.12.2024 31.12.2023

Un-audited Audited
LKR LKR

Cash Flow From Operating Activities

Profit Before Tax 45,970,720 59,541,731

Adjustments for :
Depreciation and amortization 3,415,523 3,751,715
Ammortization of right-of-use asset 5,344,397 5,214,875
Amotization on intangible assets 2,383,854 2,368,927
Provision for employee benefits 2,354,622 2,384,229
Interest income (30,820,657) (44,141,063)
Interest expenses 890,144 384,233
Provision for impairment of bad & doubtful debts 676,789 606,569
Dividend Received (745) -
Operating Profit before Working Capital Changes 30,214,647 30,111,216

Decrease / (increase) in trade & other receivable (70,484,684) (24,139,422)

Decrease / (increase) in amounts due from related parties (18,357,193) 16,691,595
Decrease / (increase) in amounts due to related parties 35,224,212 21,890,439
Increase / (decrease) in trade & other payables 39,906,879 (18,750,873)
Cash Generated from Operations 16,503,862 25,802,955

Employee benefits paid (2,861,207) (1,538,917)

Tax paid (13,368,399) (20,087,454)
Net Cash Generated from Operating Activities 274,256 4,176,584

Cash Flow From Investing Activities

Acquisition of property plant and equipment (4,303,674) (1,111,400)
Acquisition of intangible assets - (1,553,000)
Net proceeds from short term investments (18,725,746) (38,349,977)
Interest Income Received 30,106,945 55,762,872
Investment in shares (4,967)
Net Cash (used in) / Generated from Investing Activities 7,077,525 14,748,495

Cash flow from Financing Activities

Lease Rental (3,472,747) (10,353,530)
Net Cash Generated from Financing Activities (3,472,747) (10,353,530)

Net increase in cash & cash equivalents 3,879,033 8,566,580

Cash & cash equivalents at beginning of the period 19,566,529 10,999,949
Cash & Cash Equivalents at end of the Period 23,445,562 19,566,529

Analysis of Cash and Cash Equivalents

Cash at bank & in hand 31,672,517 22,533,803
Bank overdraft (8,226,955) (2,967,274)
23,445,562 19,566,529

Figures in the brackets indicate deductions.

The above figures are provisional and subject to audit.

 Notes to the Financial Statements

1 Basis of preparation
The Interim Financial Statements of the Company have been prepared in accordance with Sri Lanka Accounting Standard -
LKAS 34 – Interim Financial Reporting. This Interim Financial Statement should be read in conjunction with the Annual Report
for the year ended 31 December 2023. The financial statements provide the information as required in terms of Rule 7.4 of the
Colombo Stock Exchange.

2 Company is following the same accounting policies published in the Annual report for the year ended 31st December 2023.

3 The figures are provisional and subject to audit.

4 All known expenses including management fees and similar expenses have been provided for the financial statements.

5 According to the best of knowledge and belief of the Board of Directors no circumstances have arisen since the reporting date,
which would require adjustments to or disclosure in the Financial Statements.

6 There has not been a significant change in the nature of contingent liabilities, which were disclosed in the Annual Report for the
year ended 31 December 2023.

7 Basic earnings per share is calculated by dividing the net profit for the respective period attributable to ordinary shareholders of
the entity by the weighted average number of ordinary shares outstanding during that period.
20 Largest Shareholders
No of Shares % Holding
Name of Shareholder
31-Dec-24

Mobitel (Pvt) Ltd 106,974,618 87.59

People's Leasing & Finance PLC / Mr. M.M.R.S Ananda 1,577,653 1.29
Mr. G.C. Goonetilleke 1,162,000 0.95
Senkadagala Finance PLC / S.Gobinath 1,010,000 0.83
Mr. P. Rathnayaka 840,000 0.69
Mr. M.A.B Morahela 294,398 0.24
Merchant Bank of Sri Lanka & Finance PLC / Y.R.P.De Silva 253,136 0.21
Mr. M.A. Kumarasingha 232,433 0.19
Mr. Z.G Carimjee 231,933 0.19
Mrs. T.R. Selvanayagam 201,000 0.16
Mr. A.H. Munasinghe 190,000 0.16
Mr. H.M.C De Alwis 178,204 0.15
Seylan Bank PLC / Anuja Chamila Jayasinghe 175,210 0.14
Mr. B.A.S.I Perera 120,400 0.10
Hatton National Bank PLC / Ravindra Erle Rambukwelle 116,000 0.09
Mrs. Z.M. Adamally 115,967 0.09
Mr. M.S.F Haqque 109,594 0.09
National Lanka Capital LTD / Rupasingha Arachchige Donal Rupasingha 107,560 0.09
Merchant Bank of Sri Lanka & Finance PLC 01 104,000 0.09
People's Leasing & Finance PLC / Mr. P.S.K. Jeewantha 102,341 0.08
Sub Total 114,096,447 93.42
Others 8,034,968 6.58
Total Shares 122,131,415 100

Public Shareholding
Number of Shareholders 2,158
Number of Shares 15,156,797
Percentage Holding 12.41%
Float Adjusted Market Capitalization - Rs. 209,163,799

The Company complies with Option 2 of the Listing Rules 7.13.1 (b) - Less than Rs. 1 Bn, Float Adjusted Market Capitalization
which requires 10% minimum Public Holding.

Directors Shareholding As at 31st

Name of Director December 2024
Dr. Mothilal De Silva - Chairman -
Mr. A.K.D.D.D. Arandara (Resigned W.E.F. 19.11.2024) -
Dr. Isuru Dasanayake (Resigned W.E.F. 22.10.2024) -
Mr.Lawrence Paratz -
Mr. Sampath Hettiarachchi -
Mr. Dallas Stephen -
Mr. Dinesh Vidanapathirana (Resigned W.E.F. 19.11.2024) -
Mr. Chandrasiri Kalupahana

Market Price Per Share 2024 2023

For the 3 months ended 31st December 2024 LKR LKR
Highest 15.50 17.90
Lowest 12.50 13.90
Last Traded 13.80 14.00
Corporate Information

Name of the Company eChannelling PLC

Company Registration No PQ 205

Registered Office No.108, W.R.D.Ramanayake Mawatha,

Colombo 02

Telephone (+94 71) 4 225225

Website www.echannelling.com

Contant Person Sandun Randeni ( Manager- Finance)

Legal Form
Quoted Public Company incorporated in Sri
Lanka in 2000, Ordinary share listed on the Diri
Savi Board of the Colombo Stock Exchange

Board of Directors Dr. Mothilal De Silva - Chairman

Mr. A.K.D.D.D. Arandara (Resigned W.E.F. 19.11.2024)
Dr. Isuru Dasanayake (Resigned W.E.F. 22.10.2024)
Mr.Lawrence Paratz
Mr. Sampath Hettiarachchi
Mr. Dallas Stephen
Mr. Dinesh Vidanapathirana (Resigned W.E.F. 19.11.2024)
Mr. Chandrasiri Kalupahana
Mr. Suneth Haputhanthri (Appointed W.E.F. 07.02.2025)

Secretaries of the Company Ms. Geredene Suares

Auditors KPMG
Charted Accountants
32A, Sir Mohamed Macan Marker Mawatha
P.O. Box 186
Colombo 03

Lawyer(s) D. L. & F. De Saram

47 Alexandra Place, Colombo 07

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