FORTHEQUARTERENDED31stDECEMBER2024

ASSOCIATED MOTOR FINANCE COMPANY PLC

STATEMENT OF COMPREHENSIVE INCOME

Quarter ended 31st December Nine months ended 31st December

2024 2023 Changes 2024 2023 Changes
Unaudited Unaudited Unaudited Unaudited
Rs. Rs. % Rs. Rs. %
Interest Income 1,434,075,449 1,348,290,665 6 4,120,073,863 3,609,384,800 14
Less : Interest Expenses (553,493,533) (708,901,130) (22) (1,766,339,895) (2,130,228,883) (17)
Net Interest Income 880,581,917 639,389,535 38 2,353,733,968 1,479,155,918 59
Fee and commission income 11,025,664 18,870,128 (42) 36,095,972 51,572,036 (30)
Net trading income/(expense) (6,605) (656,658) (99) (295,356) 2,413,081 (112)
Other operating income (net) 968,320 (9,560,594) #DIV/0!
(110) 4,679,571 15,942,343 (71)
#DIV/0!
Total operating income 892,569,296 648,042,411 38 2,394,214,155 1,549,083,378 55
Less : Impairment charges on financial assets & other losses (9,284,068) (160,295,520) (94) (316,239,334) (333,152,391) (5)
Net operating income 883,285,228 487,746,891 81 2,077,974,820 1,215,930,987 71
Less : Operating Expenses
Personnel Expenses (254,608,122) (180,716,071) 41 (622,939,960) (512,649,108) 22
Depreciation of property, equipment & amortisation of Right of
Use Assets (18,630,903) (16,811,163) 11 (56,475,395) (52,460,379) 8
Amortisation of intangible assets (851,077) (356,592) 139 (2,585,592) (1,782,720) 45
Other operating expenses (78,859,781) (67,438,689) 17 (240,319,953) (188,279,200) 27.6
Profit before taxes on financial services 530,335,345 222,424,376 138
#DIV/0! 1,155,653,920 460,759,580 151
Less : Tax on financial services (131,999,904) (54,856,977) 141 (374,787,687) (125,658,290) 198
Profit before taxation 398,335,440 167,567,399 138 780,866,233 335,101,290 133
Less : Income tax (expense)/reversals (185,271,898) (113,834,417) 63 (387,728,399) (168,058,055) 131
Profit/(Loss) for the period 213,063,542 53,732,981 297 393,137,834 167,043,235 135

Other comprehensive income / (expense), net of tax

Items that may be subsequently reclassified to profit or loss
Financial assets measured at Fair Value through Other
Comprehensive Income
Net change in fair value during the period (814) (833,123) (100) (1,172,816) (2,167,536) (46)
Total other comprehensive income /(expense) for the period, net
of taxes (814) (833,123) (100) (1,172,816) (2,167,536) (46)

Total comprehensive income for the period 213,062,728 52,899,858 303 391,965,018 164,875,700 138

Earnings per share (Rs.) 1.88 0.47 3.47 1.47

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 ASSOCIATED MOTOR FINANCE COMPANY PLC
STATEMENT OF FINANCIAL POSITION

AS AT 31.12.2024 31.03.2024
(Unaudited) (Audited)
Rs. Rs.
ASSETS
Cash and cash equivalents 97,186,785 192,969,203
Financial assets - amortised cost 6,331,633,120 6,270,936,008
Financial assets - measured at fair value through profit or loss - 26,534,372
Financial assets at amortized cost / loans and lease receivables 12,122,957,946 11,040,578,974
Financial assets - measured at fair value through other comprehensive income 11,545,566 37,096,782
Inventories 2,004,892 2,004,891
Investment properties 150,000,000 150,000,000
Other assets 75,285,813 67,020,931
Property, Equipment and Right of Use Assets 1,198,140,149 1,120,205,526
Intangible assets 12,010,133 14,595,724
Good will 385,244,360 385,244,360
Total Assets 20,386,008,762 19,307,186,772

LIABILITIES
Due to banks and financial institutions 83,273,176 723,726,558
Deposits from customers 15,462,680,551 14,552,850,301
Trade and other payables 717,132,703 515,758,598
Current tax Liability 281,395,466 103,998,753
Retirement Benefit Obligations 110,772,785 93,567,035
Deferred tax liability 96,418,552 74,915,015
Total Liabilities 16,751,673,232 16,064,816,260

EQUITY
Stated capital 611,273,941 611,273,941
Revenue Reserves 2,735,687,192 2,286,168,002
Other Reserves 287,374,397 344,928,569
Total equity 3,634,335,530 3,242,370,512

Total Liabilities and Shareholders' Equity 20,386,008,762 19,307,186,772

Net Asset value per Share (Rs.) 32.07 28.61

The above figures are subject to the audit and appropriations.

The financial statements have been prepared in compliance with the requirements of the Companies Act No 7 of 2007.

Sgd
T. M. A. Sallay
Director/Chief Executive Officer

The Board of Directors is responsible for the preparation and presentation of these financial statements.
Approved and signed for and on behalf of the board.

Sgd Sgd
A.S. Dayawansa J. P. I. S. Dayawansa
Executive Director Executive Director

21st January 2025 03

 ASSOCIATED MOTOR FINANCE COMPANY PLC
STATEMENT OF CHANGES IN EQUITY

Regulatory Loss
Capital Revaluation General
Stated Capital Statutory Fair Value Allowance
reserves Reserve reserves
Reserve Fund Reserve Reserve Retained Earnings Total

Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs. Rs.

Balance as at 01st April 2023 611,273,941 32,864,774 31,982,185 1,029,052 113,610,307 13,588,029 111,788,655 2,018,644,750 2,934,781,693
Net Profit/ (Loss) for the year - - - - - - - 167,043,235 167,043,235
Other comprehensive income net of tax - - - - - (2,167,536) - - (2,167,536)
Transfers to / (from) during the year - - - - - - 109,705,673 (109,705,673) -
Balance as at 31st December 2023 611,273,941 32,864,774 31,982,185 1,029,052 113,610,307 11,420,493 221,494,328 2,075,982,312 3,099,657,393

Balance as at 01st April 2024 611,273,941 32,864,774 31,982,185 1,029,052 129,524,499 15,739,787 133,788,272 2,286,168,002 3,242,370,512
Net Profit /(Loss)
Fractional pay for the year - - - - - - - 393,137,834 393,137,834
-
Other comprehensive income net of tax - - - - - (1,172,816) - (1,172,816)
Transfer during the year (13,401,997) (42,979,359) 56,381,356 -
Balance as at 31st December 2024 611,273,941 32,864,774 31,982,185 1,029,052 129,524,499 1,164,974 90,808,913 2,735,687,192 3,634,335,530

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 ASSOCIATED MOTOR FINANCE COMPANY PLC
STATEMENT OF CASH FLOW

For the Period For the Period

ended 31st ended 31st
December 2024 December 2023
(Unaudited) (Unaudited)
Rs. Rs.
Cash flow from operating activities
Net profit/(loss)before taxation 780,866,233 335,101,290
Adjustments for;
Depreciation of property and equipment and amortisation of right of use assets and
intangible assets 59,060,986 54,243,099
Profit on disposals of property and equipment (2,114,467) (1,738,086)
Provision for bad and doubtful debts 316,239,334 333,152,391
Provision for gratuity 27,300,000 36,000,000
Interest on borrowing 119,595,328 79,054,312
Dividend receipt (2,072,050) (1,162,377)
Loans and advances written off (620,323,938) -
Operating profit before working capital changes 678,551,427 834,650,629
(Increase)/ decrease in financial investments (9,784,339) (1,656,107,335)
(Increase)/decrease in loans and advances (778,294,368) (1,285,465,120)
(Increase) / decrease in ROU Asset (101,230,426) -
(Increase)/ decrease in other assets (8,264,882) (16,468,135)
Increase/(decrease) in public deposits 909,830,249 1,707,211,339
Increase/ (decrease) in trade and other payables 201,374,105 128,654,715
213,630,339 (1,122,174,536)

Cash generated from operations 892,181,765 (287,523,907)

Income Tax paid (188,828,149) (184,357,224)
Retirement benefits liabilities paid (10,094,250) (2,672,000)
Interest paid (242,270,206) -
Net cash flow from operating activities 450,989,160 (474,553,131)

Cash flow from investment activities

Dividends received 2,072,050 1,162,377
Purchase of property and equipment, intangible assets (33,129,591) (31,537,241)
Proceeds from disposal of Property and Equipment 2,064,467 (1,470,000)
Net cash flow from investing activities (28,993,074) (31,844,864)
Cash flow from Financing activities
Proceeds on borrowings - 601,564,379
Repayment of borrowings (517,778,504) -
Net Cash Inflow/(Outflow) from Financing Activities (517,778,504) 601,564,379
Net increase/(decrease) in cash and cash equivalents (95,782,418) 95,166,385
Cash & cash equivalents at the beginning of the period 192,969,203 133,166,692
Cash & Cash Equivalents at the end of the year 97,186,785 228,333,077

Cash and Cash Equivalents Comprises

Cash and bank balances 97,186,785 228,333,077
Bank overdraft - -
Cash & Cash Equivalent at the end of the year 97,186,785 228,333,077

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 ASSOCIATED MOTOR FINANCE COMPANY PLC
NOTES TO THE INTERIM FINANCIAL STATEMENTS

1. The accounting policies followed in preparing these Interim Financial Statements are the same as those disclosed in our
Audited financial statement for the year ended 31 March 2024.
Further, these interim financial statements have been prepared in compliance with the requirements of Sri Lanka
Accounting Standards - LKAS 34 -"Interim Financial Reporting".

2. All known expenses have been provided for in these financial statements.

3. Segment Information
The company does not have any operating segment that engages in business activities from which it may earn revenues,
and on which expenses incurred whose operating results are regularly reviewed by the entity's management to determine
the resources to be allocated to the segment and assess its performance for which discrete financial information is
available.

4. Contingent Liabilities and Commitments

During the period there were no material changes in the composition of assets, liabilities and contingent liabilities and
there is no seasonality and cyclicality affecting the interim operation.

5. Events after the reporting date

There are no other material events subsequent to the reporting date, which require adjustments to or disclosures in the
interim financial statements.

6. The Stated Capital consists of 113,327,268 Ordinery Shares.

7. Employing more than 1/3 of the total number of directors as executive directors.

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8. Classification of financial assets and liabilities
The following table analyses the carrying amounts of the financial instruments by category as defined in Sri Lanka Accounting Standard -SLFRS 9 Financial Instruments.

Analysis of financial assets and liabilities by measurement basis:

As at 31.12.2024 As at 31.03.2024
FV FV
Description Fair value Amortised cost Total measurement Fair value Amortised cost Total measuremen
level t level
Rs. Rs. Rs. Rs. Rs. Rs.

Cash in hand at bank - 97,186,785 97,186,785 - 192,969,203 192,969,203

Financial assets - amortised cost - 6,331,633,120 6,331,633,120 - 6,270,936,008 6,270,936,008
Financial assets - measured at FVTPL
Quoted Shares - - - Level 1 26,534,372 - 26,534,372 Level 1
Loans and Lease receivables - 12,122,957,946 12,122,957,946 - 11,040,578,975 11,040,578,975
Financial assets - measured at FVOCI
Quoted Shares - - - Level 1 27,059,297 - 27,059,297 Level 1
Unquoted Shares 11,545,566 - 11,545,566 Level 3 10,037,485 - 10,037,485 Level 3
Total financial assets 11,545,566 18,551,777,851 18,563,323,416 63,631,154 17,504,484,185 17,568,115,339

Due to banks and financial institutions - 83,273,176 83,273,176 - 723,726,558 723,726,558

Deposits from customers - 15,462,680,551 15,462,680,551 - 14,552,850,301 14,552,850,301
Trade and other payables - 416,408,986 416,408,986 - 297,460,026 297,460,026
Total financial liabilities - 15,962,362,712 15,962,362,712 - 15,574,036,886 15,574,036,886

Level 1 : Inputs include quoted prices for identical instruments and the most observable.
Level 2 : Inputs include quoted prices for similar instruments and observable inputs such as interest rates, currency exchange rates and yield curves.
Level 3 : Inputs include data not observable in the market and reflect management judgment about the assumptions market participants would use in pricing the instruments.

FVTPL : Fair Value Through Profit or Loss

FVOCI: Fair Value Through Other Comprehensive Income

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9.
A) Market Value per Share for the quarter ended 31.12.2024 31.12.2023
Rs. Rs.

Highest 32.00 18.00

Lowest 26.10 11.00
Last traded price 31.10 17.50

B) Twenty Largest holders of Shares as at 31 December 2024

Name No. of Shares %
1 Mr. John Paulu Irugalbandarage Nalatha Dayawansa 45,273,864 39.95
2 Imperial Import & Export Co. (Pvt) Ltd 29,067,696 25.65
3 Hatton National Bank PLC/Weththinge Jinadasa 3,784,349 3.34
4 Mr. John Paulu Irugalbandarage Nelaka Dayawansa 2,478,795 2.19
5 Mr. John Paulu Irugalbandarage Nadishka Dayawansa 2,001,312 1.77
6 Mrs. Ayanthi Shammalka Dayawansa 1,884,144 1.66
7 Mr. Akurana Wattage Prajith Perera 1,783,056 1.57
8 Mr. John Paulu Irugalbandarage Shanil Dayawansa 1,762,212 1.55
9 Miss. Akuranawattage Shiyonika Perera 1,715,292 1.51
10 Mrs. Chamathi Dissanayake 1,600,000 1.41
11 Mrs.Ayoma Shyamali Perera 1,452,408 1.28
12 Mr. Mahamarakkalage Ishara Sumal Sriyananda Perera 940,000 0.83
13 Senkadagala Finance Plc/L.A.J.F.Morais 904,526 0.80
14 Seylan Bank Plc/Eagle Crest (Pvt) Ltd 855,499 0.75
15 Sampath Bank Plc/Mr. Llewellyn Alphonsus Joseph Fiedelis Morais 802,304 0.71
16 Mr. Christopher Jayan Perera 798,754 0.70
17 Miss Nishma Ruhi Fonseka 767,000 0.68
18 Mr. Chumila Dissanayake 640,000 0.56
19 Kottawa Industries & Tours Ltd 618,720 0.55
20 Mr. Wickrama Arachchi Appuhamilage Thamash Madushan Jayawickrama 585,000 0.52
99,714,931 87.98

C) Directors Shareholding as at 31 December 2024

Name No. of Shares
Mr. J. P. I. N. Dayawansa 45,273,864
Mrs. A. S. Dayawansa 1,884,144
Mr. J. P. I. S. Dayawansa 1,762,212
Mr. T.M.A. Sallay 6,204
Mr. P.S. Goonewardene 912
Mr. N.M. Pieris 2,400
Mr. T.G. Kandamby -
Mr. Ranil Wijegunawardena -
48,929,736
D) Public Holding
31.12.2024 31.12.2023
No of Share Holders 1,554 1,902
No of Shares - public holding 35,325,072 35,280,024
% of Public Holding 31.17% 31.13%
Float Adjusted Market Capitalization( Rs.) 1,098,579,803 617,378,624

The Float adjusted Market Capitalization as of 31 December 2024 - LKR 1,098,579,803/- .The Float adjusted market capitalization of the
Company falls under Option 2 of Rule 7.14.1.(i) (b), of the Listing Rules of the Colombo Stock Exchange and the Company has complied
with the minimum public holding requirement applicable under the said option.
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CORPORATE INFORMATION

NAME OF THE COMPANY STOCK EXCHANGE LISTING

Associated Motor Finance Co.PLC Ordinary shares of the Company were listed on
the Colombo Stock Exchange from 23rd May 2011
COMPANY REGISTERED NO.
PB 733 PQ BOARD OF DIRECTORS
Mr. P. S. Goonewardene
DATE OF INCORPORATION Mr. J.P.I.N. Dayawansa
25th July 1962 Mrs. A.S. Dayawansa
Mr. J.P.I.S. Dayawana
LEGAL FORM Mr. T.G. Kandamby
A Public Limited Company, Licensed Mr. R. Wijegunawardane
by the Monetary Board of the Central Mr. T.M.A. Sallay
Bank of Sri Lanka in terms of the Mr. N.M. Pieris
Finance Business Act
No.42 of 2011.
TAX ADVISORS
REGISTERED OFFICE Dasanayaka Associates
No.89,Hyde Park Corner, Colombo 02 No. 16, Shady Grove Avenue, 36th Lane,
Colombo 08, Sri Lanka.
CORPORATE OFFICE
No.146, Havelock Road, BANKERS TO THE COMPANY
Thimbirigasyaya, Commercial Bank of Ceylon PLC,
Colombo 05 Bank of Ceylon
Sampath Bank PLC
SECRETARIES Nations Trust Bank PLC
Mrs. H M C S Herath National Development Bank PLC
Hatton National Bank PLC
REGISTRARS Seylan Bank PLc
S.S.P.Corporate Services (Pvt) Ltd People's Bank
No.101 ,Inner Flower Road, Colombo 03 Union Bank of Colombo PLC
Pan Asia Banking Corporation PLC
AUDITORS
BDO Partners
65/2, Sir Chittamapalam A Gardiner Mawatha,
Colombo 02.

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