SUNSHINE HOLDINGS PLC
Annual Report 2019/20
| Attributable to owners of the company | Total Rs. |
Non-controlling interest Rs. |
Total equity Rs. |
||||||
| For the year ended 31 March 2020 | Stated capital Rs. |
General reserve Rs. |
Reserve on exchange gain/(loss) Rs. |
Fair value reserve Rs. |
Reserve on rearrangement Rs. |
Retained earnings Rs. |
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| Group | |||||||||
| Balance as 1 April 2018 | 798,504,357 | 1,257,725 | 217,517 | 365,453,500 | 23,965,012 | 5,185,526,425 | 6,374,924,536 | 3,427,198,621 | 9,802,123,157 |
| Total comprehensive income for the year | – | – | – | – | – | ||||
| Profit for the year | – | – | – | – | – | 646,984,059 | 646,984,059 | 498,650,100 | 1,145,634,159 |
| Total other comprehensive income for the year | – | – | 1,730,456 | 17,521,967 | – | (113,025,290) | (93,772,867) | (131,053,969) | (224,826,836) |
| Total comprehensive income for the year | – | – | 1,730,456 | 17,521,967 | – | 533,958,769 | 553,211,192 | 367,596,131 | 920,807,323 |
| Transactions with owners of the Company | |||||||||
| Reserve on re-arrangement in Hatton Plantations PLC | – | – | – | – | (23,965,012) | 13,240,669 | (10,724,343) | 10,724,343 | – |
| Issue of shares | 68,210,885 | – | – | – | – | (68,210,885) | – | 37,617,512 | 37,617,512 |
| Issue of shares – private placement | 775,000,005 | – | – | – | – | – | 775,000,005 | – | 775,000,005 |
| Share issuing cost | – | – | – | – | – | (39,700,000) | (39,700,000) | – | (39,700,000) |
| Dividend paid to owners for 2017/18 | – | – | – | – | – | (136,527,501) | (136,527,501) | (366,485,596) | (503,013,097) |
| Balance as at 31 March 2019 | 1,641,715,247 | 1,257,725 | 1,947,973 | 382,975,467 | – | 5,488,287,477 | 7,516,183,889 | 3,476,651,011 | 10,992,834,900 |
| Balance as 1 April 2019 | 1,641,715,247 | 1,257,725 | 1,947,973 | 382,975,467 | – | 5,488,287,477 | 7,516,183,889 | 3,476,651,011 | 10,992,834,900 |
| Fair value adjustment of right to use assets | – | – | – | – | – | 25,835,075 | 25,835,075 | 32,163,925 | 57,999,000 |
| Adjusted Balance as 1st April 2019 | 1,641,715,247 | 1,257,725 | 1,947,973 | 382,975,467 | – | 5,514,122,552 | 7,542,018,964 | 3,508,814,936 | 11,050,833,900 |
| Total comprehensive income | |||||||||
| Profit for the year | – | – | – | 1,147,045,944 | 1,147,045,944 | 685,591,623 | 1,832,637,567 | ||
| Total other comprehensive income for the year | – | – | 473,588 | (29,047,259) | (3,543,172) | (32,116,843) | (3,238,425) | (35,355,268) | |
| Total comprehensive income for the year | – | – | 473,588 | (29,047,259) | – | 1,143,502,772 | 1,114,929,101 | 682,353,198 | 1,797,282,299 |
| Transactions with owners of the Company | |||||||||
| Adjustment on Disposal of Hatton Plantations PLC (Note 24.4) | – | – | – | – | – | – | – | (365,855,341) | (365,855,341) |
| Effective loss of control in Waltrim Hydro Power Plant | – | – | – | – | – | (2,589,742) | (2,589,742) | 10,822,742 | 8,233,000 |
| Investment in NCI – Watawala Dairy Ltd. | – | – | – | – | – | (103,641,337) | (103,641,337) | (76,448,663) | (180,090,000) |
| Issue of shares to NCI – Watawala Plantations PLC | – | – | – | – | – | – | – | 13,356,018 | 13,356,018 |
| Scrip dividend to NCI – Watawala Plantations PLC | – | – | – | – | – | – | (15,530,243) | (15,530,243) | |
| Acquisition of NCI – Waltrim Hydro Power (Pvt) Ltd. | – | – | – | – | – | (2,606,350) | (2,606,350) | (8,275,650) | (10,882,000) |
| Impact on loss of effective shareholding in Sunshine Energy Group | – | – | – | – | – | 52,972,349 | 52,972,349 | 286,329,116 | 339,301,465 |
| Dividend paid to owners for 2018/19 | – | – | – | – | – | (186,942,629) | (186,942,629) | – | (186,942,629) |
| – | – | – | – | – | (242,807,709) | (242,807,709) | (155,602,021) | (398,409,730) | |
| Balance as at 31 March 2020 | 1,641,715,247 | 1,257,725 | 2,421,561 | 353,928,208 | – | 6,414,817,615 | 8,414,140,356 | 4,035,566,113 | 12,449,706,469 |
| For the year ended 31 March 2020 | Stated capital Rs. |
Capital accretion reserve Rs. |
General reserve Rs. |
Fair value reserve Rs. |
Retained profit Rs. |
Total Rs. |
| Company | ||||||
| Balance as at 1 April 2018 | 798,504,357 | – | 1,257,725 | 362,754,358 | 1,767,356,201 | 2,929,872,641 |
| Total comprehensive income for the year | ||||||
| Profit for the year | – | – | – | – | 259,886,232 | 259,886,232 |
| Total other comprehensive income for the year | – | – | – | 16,141,657 | (1,692,756) | 14,448,901 |
| Total comprehensive income for the year | – | – | – | 16,141,657 | 258,193,476 | 274,335,133 |
| Transactions with owners of the Company | ||||||
| Issue of shares | 775,000,005 | – | – | – | – | 775,000,005 |
| Issue of shares – private placement | – | (39,700,000) | (39,700,000) | |||
| Issue of shares – scrip dividend | 68,210,885 | – | (68,210,885) | – | ||
| Dividend paid to owners for 2017/18 | – | – | – | – | (136,527,501) | (136,527,501) |
| Balance as at 31 March 2019 | 1,641,715,247 | – | 1,257,725 | 378,896,015 | 1,781,111,291 | 3,802,980,278 |
| Balance as at 1 April 2019 | 1,641,715,247 | – | 1,257,725 | 378,896,015 | 1,781,111,291 | 3,802,980,278 |
| Total Comprehensive Income for the year | ||||||
| Profit for the year | – | – | – | – | 320,537,738 | 320,537,738 |
| Total other comprehensive income for the year | – | – | – | (29,047,259) | 1,632,066 | (27,415,193) |
| Total comprehensive income for the year | – | – | – | (29,047,259) | 322,169,804 | 293,122,545 |
| Capital accretion reserve transfer to general reserve | – | – | – | – | – | – |
| Issue of shares – private placement | – | – | – | – | – | – |
| Share issuing cost | – | – | – | – | – | – |
| Issue of shares – scrip dividend | – | – | – | – | – | – |
| Dividend Paid to owners – 2018/19 | – | (186,942,629) | (186,942,629) | |||
| Balance as at 31 March 2020 | 1,641,715,247 | – | 1,257,725 | 349,848,756 | 1,916,338,466 | 3,909,160,194 |
Figures in brackets indicate deductions.
The Accounting Policies and Notes from pages 57 to 159 are an integral part of these Financial Statements.