March 03, 2015 5:52 PM ET

Consumer Finance

Company Overview of Swarnamahal Financial Services PLC

Company Overview

Swarnamahal Financial Services PLC operates as a finance company in Sri Lanka. The company offers fixed deposits and savings accounts; and personal, term, and gold loans. In addition, it provides pawn brokering, hire purchase, and finance leasing services. The company was incorporated in 2004 and is based in Colombo, Sri Lanka.

No 654 Galle Road

Colombo,  03

Sri Lanka

Founded in 2004

Phone:

94 11 255 6160

Fax:

94 11 258 9823

Key Executives for Swarnamahal Financial Services PLC

Swarnamahal Financial Services PLC does not have any Key Executives recorded.

Swarnamahal Financial Services PLC Key Developments

Swarnamahal Financial Services Limited Reports Audited Earnings Results for the Year Ended March 31, 2014

Swarnamahal Financial Services Limited reported audited earnings results for the year ended March 31, 2014. For the year, the company reported gross income of LKR 216 million compared to LKR 1,340 million reported a year ago. Operating loss before value added tax and income tax expenses was LKR 1,228 million compared to operating profit before value added tax and income tax expenses of LKR 220 million reported a year ago. Net loss after tax was LKR 1,245 million or LKR 2.49 per basic share compared to profit after tax of LKR 122 million or LKR 0.24 per basic share reported a year ago. Return on average assets was a negative of 23.5% compared to 2.2% reported a year ago. Net asset value per share was a loss of LKR 1.61 compared to net asset value per share of LKR 0.86 as at the end of fiscal 2013. Net interest income was LKR 244.24 million compared to LKR 536.17 million reported a year ago. Net loss before tax was LKR 1,242 million compared to profit before tax of LKR 197.92 million reported a year ago. Total operating loss was LKR 598.16 million compared to total operating income of LKR 545.5 million reported a year ago. Net cash from operating activities was LKR 278.72 million compared to LKR 128.34 million reported a year ago. Additions to property, plant and equipment was LKR 0.94 million compared to LKR 12.45 million reported a year ago.

Swarnamahal Financial Services Limited, Annual General Meeting, Sep 30, 2014

Swarnamahal Financial Services Limited, Annual General Meeting, Sep 30, 2014., at 10:30 Sri Lanka Standard Time. Location: Hotel Sapphire, No. 371. Agenda: To consider and adopt the Annual Report of the Board of Directors on the Affairs of the company and the Statements of Accounts for the year ended 31st March 2014 with the Report of the Auditors thereon; to re-elect Mr. B. G. Wimalarathna Banda who in terms of Article 20(5)of the Articles of Association of the company retires by rotation at the Annual General Meeting as a Director; to re-elect Mr. S. M. Ganegoda who in terms of Article 20(5) of the Articles of Association of the Company retires by rotation at the Annual General Meeting as a Director; to re-appoint Messrs KPMG, Chartered Accountants as the Auditors for the ensuing year and authorize the Directors to determine their remuneration; and to authorize the Directors to determine contributions to charities for the Financial Year ending 31st March 2015.

Swarnamahal Financial Services Limited Announces Unaudited Earnings Results for the First Quarter Ended June 30, 2014

Swarnamahal Financial Services Limited announced unaudited earnings results for the first quarter ended June 30, 2014. For the quarter, the company reported net interest loss of LKR 18,542,274 against net interest income of LKR 72,333,338 a year ago. Total operating loss was LKR 312,204,884 against total operating income of LKR 71,150,016 a year ago. Loss from operation before tax was LKR 351,839,298 against profit from operation before tax of LKR 17,149,071 a year ago. Net loss was LKR 351,839,298 against net profit of LKR 17,149,071 a year ago. Basic loss per share was LKR 0.70 against basic earnings per share of LKR 0.03 a year ago. Net cash from operating activities was LKR 324,174,260 against net cash used in operating activities of LKR 144,742,400 a year ago.

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