Financial Statements
Statement of Changes in Equity - Group
| Other reserves | ||||||||||||||
| Stated capital |
Statutory reserve fund |
Retained earnings |
Revaluation reserve |
Fair value reserve |
Foreign currency translation reserve |
Hedging reserve |
General reserve |
Employee share option reserve |
Shareholders' funds |
Non-controlling interest |
Total equity |
|||
| Note | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | Rs. '000 | ||
| Balance as at December 31, 2018 | 39,147,882 | 7,444,178 | 4,949,955 | 7,819,131 | (1,386,355) | 3,157,052 | 24,019 | 57,650,003 | 591,984 | 119,397,849 | 1,198,981 | 120,596,830 | ||
| Impact arising from the adoption of SLFRS 16 | - | - | (57,627) | - | - | - | - | - | - | (57,627) | - | (57,627) | ||
| Reversal of deferred tax asset created on liability o/a straight lining of lease rentals | - | - | (57,627) | - | - | - | - | - | - | (57,627) | - | (57,627) | ||
| Balance as at January 1, 2019 | 39,147,882 | 7,444,178 | 4,892,328 | 7,819,131 | (1,386,355) | 3,157,052 | 24,019 | 57,650,003 | 591,984 | 119,340,222 | 1,198,981 | 120,539,203 | ||
| Total comprehensive income for the year 2019 | ||||||||||||||
| Profit for the year | - | - | 17,263,259 | - | - | - | - | - | - | 17,263,259 | 157,137 | 17,420,396 | ||
| Other comprehensive income, net of tax | - | - | (57,400) | 39,575 | 3,169,858 | (391,060) | (62,391) | - | - | 2,698,582 | (5,077) | 2,693,505 | ||
| Net actuarial gains/(losses) on defined benefit plans | - | - | (57,400) | - | - | - | - | - | - | (57,400) | 64 | (57,336) | ||
| Share of other comprehensive income of associate, net of tax | - | - | - | 39,575 | (942) | - | - | - | - | 38,633 | - | 38,633 | ||
| Net fair value gains/(losses) on remeasuring financial assets measured at fair value through other comprehensive income | - | - | - | - | 3,170,800 | - | - | - | - | 3,170,800 | - | 3,170,800 | ||
| Net gains/(losses) arising from translating the Financial Statements of foreign operations | - | - | - | - | - | (391,060) | - | - | - | (391,060) | (5,141) | (396,201) | ||
| Cash flow hedges - effective portion of changes in fair value, net of tax | - | - | - | - | - | - | (62,391) | - | - | (62,391) | - | (62,391) | ||
| Total comprehensive income for the year 2019 | - | - | 17,205,859 | 39,575 | 3,169,858 | (391,060) | (62,391) | - | - | 19,961,841 | 152,060 | 20,113,901 | ||
| Transactions with owners, recognised directly in equity, contributions and distributions to owners |
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| Issue of ordinary voting shares under employee share option plans | 52 | 30,128 | - | - | - | - | - | - | - | - | 30,128 | - | 30,128 | |
| Transfer o/a share-based payment transactions | 52 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Transfer of cost o/a of expired ESOP shares (net of tax) | 55 & 56.5 | - | - | 88,913 | - | - | - | - | - | (123,490) | (34,577) | - | (34,577) | |
| Dividends to equity holders | 1,738,948 | - | (6,596,511) | - | - | - | - | - | - | (4,857,563) | (4,988) | (4,862,551) | ||
| Second interim dividend for 2018 | 25 | - | - | (3,032,869) | - | - | - | - | - | - | (3,032,869) | - | (3,032,869) | |
| Final cash dividend for 2018 | - | - | - | - | - | - | - | - | - | - | (3,188) | (3,188) | ||
| Final dividend for 2018 satisfied in the form of issue and allotment of new shares | 52 | 1,738,948 | - | (2,022,032) | - | - | - | - | - | - | (283,084) | - | (283,084) | |
| Unclaimed dividend absorbed/(dividend paid) in respect of previous years | - | - | (350) | - | - | - | - | - | - | (350) | 22 | (328) | ||
| First interim dividend for 2019 | 25 | - | - | (1,541,260) | - | - | - | - | - | - | (1,541,260) | (1,822) | (1,543,082) | |
| Share-based payment transactions | 56.5 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Profit due to change in ownership | 17 | - | - | 14,498 | - | - | - | - | - | - | 14,498 | - | 14,498 | |
| Movement due to change in ownership | - | - | (9,379) | (20,921) | - | - | - | - | - | (30,300) | 30,300 | - | ||
| Acquisition of a subsidiary with non-controlling interest | - | - | - | - | - | - | - | - | - | - | 212,881 | 212,881 | ||
| Transfers during the year | 54 to 56 | - | 943,523 | (10,413,523) | - | - | - | - | 9,470,000 | - | - | - | - | |
| Total transactions with equity holders | 1,769,076 | 943,523 | (16,916,002) | (20,921) | - | - | - | 9,470,000 | (123,490) | (4,877,814) | 238,193 | (4,639,621) | ||
| Balance as at December 31, 2019 | 40,916,958 | 8,387,701 | 5,182,185 | 7,837,785 | 1,783,503 | 2,765,992 | (38,372) | 67,120,003 | 468,494 | 134,424,249 | 1,589,234 | 136,013,483 | ||
| Total comprehensive income for the year 2020 | ||||||||||||||
| Profit for the year | - | - | 16,939,950 | - | - | - | - | - | - | 16,939,950 | 146,847 | 17,086,797 | ||
| Other comprehensive income, net of tax | - | - | (225,018) | 2,662,469 | (1,319,619) | 559,932 | (64,139) | - | - | 1,613,625 | 46,456 | 1,660,081 | ||
| Net actuarial gains/(losses) on defined benefit plans | - | - | (226,737) | - | - | - | - | - | - | (226,737) | (2,008) | (228,745) | ||
| Gain on disposal of investments in equity instruments | - | 1,719 | - | - | - | - | - | - | 1,719 | - | 1,719 | |||
| Share of other comprehensive income of associate, net of tax | - | - | - | - | 3,436 | - | - | - | - | 3,436 | - | 3,436 | ||
| Net change in revaluation surplus | 56.1 | - | - | - | 2,662,469 | - | - | - | - | - | 2,662,469 | 11,673 | 2,674,142 | |
| Net fair value gains/(losses) on remeasuring financial assets measured at fair value through other comprehensive income | - | - | - | - | (1,323,055) | - | - | - | - | (1,323,055) | - | (1,323,055) | ||
| Net gains/(losses) arising from translating the Financial Statements of foreign operations |
- | - | - | - | - | 559,932 | - | - | - | 559,932 | 36,791 | 596,723 | ||
| Cash flow hedges - effective portion of changes in fair value, net of tax | - | - | - | - | - | - | (64,139) | - | - | (64,139) | - | (64,139) | ||
| Total comprehensive income for the year 2020 | - | - | 16,714,932 | 2,662,469 | (1,319,619) | 559,932 | (64,139) | - | - | 18,553,575 | 193,303 | 18,746,878 | ||
| Transactions with owners, recognised directly in equity, contributions and distributions to owners |
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| Proceeds on issue of ordinary voting shares to IFC parties (Private placement) | 52 | 9,215,775 | - | - | - | - | - | - | - | - | 9,215,775 | - | 9,215,775 | |
| Issue of ordinary voting shares under employee share option plans | 52 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Transfer o/a share-based payment transactions | 52 | - | - | - | - | - | - | - | - | - | - | - | - | |
| Transfer of cost o/a of expired ESOP Shares (net of tax) | 55 & 56.5 | Share-based payment transactions | - | - | 105,980 | - | - | - | - | - | (147,194) | (41,214) | - | (41,214) |
| Dividends to equity holders | 2,055,014 | - | (5,137,434) | - | - | - | - | - | - | (3,082,420) | (15,996) | (3,098,416) | ||
| Second interim dividend for 2019 | 25 | - | - | (3,082,520) | - | - | - | - | - | - | (3,082,520) | - | (3,082,520) | |
| Final cash dividend for 2019 | - | - | - | - | - | - | - | - | - | - | (13,620) | (13,620) | ||
| Final dividend for 2019 satisfied in the form of issue and allotment of new shares | 52 | 2,055,014 | - | (2,055,014) | - | - | - | - | - | - | - | - | - | |
| Unclaimed dividend absorbed/(dividend paid) in respect of previous years | - | - | 100 | - | - | - | - | - | - | 100 | 24 | 124 | ||
| First interim dividend for 2020 | - | - | - | - | - | - | - | - | - | - | (2,400) | (2,400) | ||
| Share-based payment transactions | 56.5 | - | - | - | - | - | - | - | - | 112,203 | 112,203 | - | 112,203 | |
| Movement due to change in ownership | - | - | 6,130 | 4,514 | - | - | - | - | - | 10,644 | (10,644) | - | ||
| Transfers during the year | 54 to 56 | - | 897,532 | (8,747,532) | - | - | - | - | 7,850,000 | - | - | - | - | |
| Total transactions with equity holders | 11,270,789 | 897,532 | (13,772,856) | 4,514 | - | - | - | 7,850,000 | (34,991) | 6,214,988 | (26,640) | 6,188,348 | ||
| Balance as at December 31, 2020 | 52,187,747 | 9,285,233 | 8,124,261 | 10,504,768 | 463,884 | 3,325,924 | (102,511) | 74,970,003 | 433,503 | 159,192,812 | 1,755,897 | 160,948,709 | ||
The Notes 1 to 69 form an integral part of these Financial Statements.