MANAGING DIRECTOR’S MESSAGE

WINDFORCE PLC | INTERIM CONDENSED FINANCIAL STATEMENT

SIX MONTHS ENDED 30 SEPTEMBER 2021 1

MANAGING DIRECTOR’S MESSAGE

…………………………………………..

Manjula Perera

Managing Director

Colombo

27th October 2021

Dear Stakeholder,

It is with great pleasure that I present to you the

interim report for WindForce PLC for the period ended

on the 30th of September, 2021 (1H FY 21/22), which

yielded exceptional results.

Firstly, The Group recorded a consolidated revenue of

2.66 billion at the end of the period, which is on par with

the topline recorded in the first half of the previous

financial year (1H FY 20/21). The Bottom line for 1H of

FY 21/22 recorded as 1.66 billion with a YoY decline of

2% in comparison to the 1H of FY 20/21.

Wind Energy Sector

The wind sector faced a decline in revenue of 10% YoY

caused by the tariff rate drop in Daily Life and

PowerGen as the two project companies entered their

second tier in operation. Further to this, three of our

plants, Nirmalapura, Daily Life & PowerGen, were

compelled to operate below capacity due to the failure

of the 75MVA power transformer at the CEB’s

Norochcholai Wind Collector Substation since July,

2020. However, it was successfully restored in

September of 2021. Aside from this, our largest Wind

Power project to date, the 15 MW Wind project in

Mannar, received the Letter of Intent (LOI) from the

CEB in June 2021. The construction of the plant has

begun and is expected to be commissioned mid-2022.

Solar Energy Sector

A 32% YoY growth in revenue was recorded in the

solar sector in comparison to the 1H of the previous

financial year with a notable foreign currency

contribution from the Tororo Solar Plant;

commissioned in Uganda in August of 2020. Whilst

continuing to expand our Solar footprint in Sri Lanka,

we have successfully commenced construction of the

10 MW Ground Solar installation in Vavunathivu, which

is expected to be operational by March 2022.

Hydropower Sector

As for hydro power generation, consistently high

rainfall in the catchment areas led to an overall 40%

increase in volume compared to the 1H of the previous

financial year with a subsequent 37% increase in YoY

revenue growth.

From those who reaped the benefits of the weather,

Terraqua International, Energy Reclamation, HPD Power

and Peak Power plants performed commendably well.

Waste-to-Energy Sector

With the aim of broadening the horizon of alternative

clean energy, our team put forward a “one man’s trash is

another man’s treasure” approach through our Waste-to-

Energy project located in Karadiyana, that is currently

awaiting the Cabinet approval. The plant will be equipped

with a 400 metric ton per day incinerator plant, and a 100

metric ton per day anaerobic digestion plant, with a

collective capacity to generate 10 MW of electricity to the

National Grid.

Expansion

The next step in our journey of growth took place in

September of 2021, when WindForce acquired 100% of Sky

Solar (Pvt) Ltd. From Sunshine Energy (Pvt) Ltd, raising the

number of rooftop solar plant companies under our wing to

3, and paving the way for our total installed capacity to

reach 220.2 MWh.

Awards We are also pleased to announce that WindForce was

as the “Fastest Growing Renewable Energy Company

– Sri Lanka” at the Global Business Outlook Awards 2021.

In conclusion, our dedication to the final goal of a greater,

greener future has led us to believe that we are more than

just a title- perhaps the feeling is mutual. We’d like to

thank our shareholders for confidence placed in us and we

look forward to continuing our green journey with you.

Manjula Perera

Managing Director

Colombo

8th November 2021



CONSOLIDATED INCOME STATEMENT

Six Month Ended 30th September 2021 2020 %

Change

Revenue 2,661,257,483 2,663,132,551 0%

Direct Cost (803,853,669) (701,902,638) 15%

Gross Profit 1,857,403,814 1,961,229,913 -5%

Other Operating Income 58,246,661 27,683,584 110%

Administration Expenses (318,797,086) (220,481,972) 45%

Profit from Operating Activities 1,596,853,389 1,768,431,524 -10%

Finance Income 125,785,337 77,167,430 63%

Finance Costs (169,185,079) (226,686,827) -25%

Profit from Ordinary Activities before Taxation 1,553,453,647 1,618,912,127 -4%

Share of results of equity accounted investee 240,233,552 162,701,355 48%

Profit before Taxation 1,793,687,199 1,781,613,482 1%

Income Tax Expenses (133,095,158) (94,837,620) 40%

Profit after Taxation 1,660,592,041 1,686,775,862 -2%

Other comprehensive income for the period 32,268,029 -

Total comprehensive income for the period 1,692,860,070 1,686,775,862 0%

Attributable to: Non-controlling interests 266,090,476 275,299,105 -3%

Equity holders of the parent 1,426,769,593 1,411,476,757 1%

1,692,860,070 1,686,775,862 0%

Earnings per share 1.08 1.23

Dividend per share 0.75 0

Notes:

The above figures are in LKR, unless otherwise stated.

The figures in brackets indicate deductions.

The above figures are not audited.



CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 30.09.2021

Unaudited As at 31.03.2021

Audited

ASSETS Non-Current Assets Property, Plant and Equipment 14,720,303,246 15,239,783,617

Investments in Equity Accounted Investees 2,420,586,082 2,205,809,099

Non-Current Financial Assets 1,885,333,007 1,503,348,708

Intangible Assets 2,673,727,115 2,674,824,008

Total Non-Current Assets 21,699,949,450 21,623,765,432

Current Assets Inventory 583,974,678 459,721,533

Other Non-Financial Assets 14,605,777 14,605,777

Trade and Other Receivables 2,617,933,328 1,656,829,248

Income Tax Receivable 18,292,142 (17,628,307)

Amounts Due from Related Parties 3,964,667 53,093,964

Short Term Financial Assets 3,362,171,532 1,765,887,466

Cash and Cash Equivalents 2,067,243,372 8,459,543,027

Total Current Assets 8,668,185,496 12,392,052,708

Total Assets 30,368,134,946 34,015,818,140

EQUITY AND LIABILITIES Capital and Reserves Stated Capital 18,226,455,904 14,984,610,448

Retained Earnings 3,112,459,005 2,731,034,146

Share pending for Allotment - 3,241,845,456

Foreign Currency Translation Reserve 17,429,331 1,123,288

Total Equity 21,356,344,239 20,958,613,338

Non-Controlling Interest 2,003,110,269 1,880,602,359

23,359,454,508 22,839,215,697

Non-Current Liabilities

Interest Bearing Loans & Borrowings 3,778,949,128 4,562,383,822

Employee Benefit Liabilities 51,034,972 51,142,973

Deferred Tax Liabilities 1,364,616,975 1,364,607,998

Total Non-Current Liabilities 5,194,601,076 5,978,134,793

Current Liabilities

Interest Bearing Loans & Borrowings 1,297,698,221 1,297,698,221

Trade and Other Payables 487,810,587 3,407,962,842

Amounts Due to Related Parties 28,570,555 39,994,202

Bank Overdraft - 452,812,386

Bank Overdraft - 452,812,386



CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Total Current Liabilities 1,814,079,363 5,198,467,651

Total Equity and Liabilities 30,368,134,946 34,015,818,140

Net assets per share 15.81 18.25

Notes:



The Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

Chief Financial Officer

Rizmin Razik

The Board of Directors are responsible for the preparation and presentation of these Financial Statements.

Signed for and on behalf of the Board by:

Director Director

Asgi Akbarally Manjula Perera

Date of approval by the Board: 8th November 2021



CONSOLIDATED STATEMENT OF CASH FLOW

As at 30.09.2021 As at 30.09.2020

Cash Flow from/(used) in Operating Activities Net Profit before Taxation 1,793,687,199 1,781,613,482

Adjustments for Profit accruing to the Group net of Dividend (240,233,552) (162,701,355)

Depreciation & Amortization 531,473,567 508,859,891

Loss/ (Gain) on Fixed Asset Disposal (10,000,000) (7,545,000)

Insurance Claim Rec’d-General - (97,207)

Interest Cost 157,990,071 216,499,964

Profit on other project (25,723,286) (1,882,342)

Dividend Income (22,523,375) (18,106,538)

Interest Income (125,785,337) (77,167,430)

Operating Profit before Working Capital Charges 2,058,885,287 2,239,473,465

(Increase)/Decrease in Trade & Other Receivables (1,079,099,985) 88,566,354

(Increase)/Decrease in Inventories (124,253,145) (29,785,910)

(Increase)/Decrease in Amounts due from Related Parties 42,291,454 59,966,518

Increase/(Decrease) in Amounts due to Related Parties (11,423,647) (4,310,995)

Increase/(Decrease) in Trade & Other Payables (2,796,034,894) (1,276,890,155)

(3,968,520,216) (1,162,454,187)

Cash Generated from/(used in) Operations (1,909,634,929) 1,077,019,278

Interest Paid (157,990,071) (216,499,964)

Income Tax Paid (156,192,248) (201,130,028)

Gratuity Paid (108,000) (95,426)

(314,290,319) (417,725,417)

Net Cash from/(used in) Operating Activities (2,223,925,248) 659,293,861

Cash Flows from/(used in) Investing Activities

Interest Income 125,785,337 77,167,430

Dividend Income 22,523,375 18,106,538

Dividend Paid (1,156,659,274)

Acquisition of Property, Plant & Equipment (11,790,775) (921,426,547)

Proceeds from Issue of shares 219,971,653

Investment in Local Entities - Local (360,345,830) -

Short Term Investments - Fixed Deposit (1,596,284,066) (420,610,945)

Net Cash Flow from/(Used in) Investing Activities (2,976,771,233) (1,026,791,871)

Cash Flows from/(used in) Financing Activities Cash on other project 25,723,286 1,882,342

Proceeds from Sale of Fixed Assets 10,000,000 7,545,000

Cash from Insurance Claim 97,207

Net Proceeds/Repayments from Interest Bearing Borrowings (774,514,074) 189,971,523

Net Cash Flow from/ (Used in) Financing Activities (738,790,788) 199,496,072

Net Increase/(Decrease) in Cash and Cash Equivalents (5,939,487,269) (168,001,938)

Cash and Cash Equivalents at the Beginning of the Period 8,006,730,641 871,567,978



CONSOLIDATED STATEMENT OF CASH FLOW

Cash and Cash Equivalents at the End of the Period 2,067,243,372 703,566,040

Analysis of Cash and Cash Equivalents Cash at Bank - Favorable 2,067,243,372 826,522,766

Bank Overdrafts (122,956,726)

2,067,243,372 703,566,040

Notes:






CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

Stated Capital Shares Pending

for Allotment Retained Earnings Revaluation

Non-Controlling Interest Total Equity

Balance as at 01st April 2020

14,984,610,449 1,362,004,090 - 1,634,602,355 17,981,216,894

Issue of Share Capital - - - 54,992,913 54,992,913

Net Profit for the Period - 1,411,476,757 - 275,299,105 1,686,775,862

Balance as at 30th September 2020 14,984,610,449 - 2,773,480,847 - 1,964,894,373 19,722,985,669

Balance as at 01st April 2021 14,984,610,448 3,241,845,456 2,731,034,147 1,123,288 1,880,602,359 22,839,215,698

Issue of Share Capital 3,241,845,456 (3,241,845,456) - - - -

Foreign Currency Translation Reserve 16,306,043 - 16,306,043

Net Profit for the Period - 1,394,501,565 - 266,090,476 1,660,592,041

Dividends - Ordinary Shares - (1,013,076,707) - (143,582,567) (1,156,659,274)

Balance as at 30th September 2021 18,226,455,904 - 3,112,459,005 17,429,331 2,003,110,269 23,359,454,508

Notes:






COMPANY INCOME STATEMENT

Six Month Ended 30th September 2021 2020 %

Change

Revenue 294,820,625 137,322,853 115%

Direct Cost (4,835,267) -

Gross Profit 289,985,359 137,322,853 111%

Other Operating Income 1,144,603,099 22,621,387 4960%

Administration Expenses (234,130,704) 77,201,175) 203%

Profit from Operating Activities 1,200,457,754 82,743,064 1351%

Finance Income 108,194,653 64,307,763 68%

Finance Costs (17,877,655) (19,191,765) -7%

Profit before Taxation

1,290,774,752 127,859,062 910%

Income Tax Expenses (73,374,662) (26,218,511)

Profit after Taxation 1,217,400,090 101,640,551 1098%

Other comprehensive income for the period 32,268,029 -

Total comprehensive income for the period 1,249,668,119 101,640,551 1129%

Earnings per share 0.94 0.09

Notes:






COMPANY STATEMENT OF FINANCIAL POSITION

As at 30.09.2021

Unaudited As at 31.03.2021

Audited

ASSETS Non-Current Assets Property, Plant and Equipment 53,894,363 61,057,648

Investments in Subsidiaries - Unquoted 12,641,712,658 12,632,082,209

Investments in Equity Accounted Investees 1,037,830,831 1,037,830,831

Non-Current Financial Assets 1,509,983,959 1,135,921,169

Total Non-Current Assets 15,243,421,811 14,866,891,857

Current Assets

Trade and Other Receivables 392,204,873 286,210,379

Amounts Due from Related Parties 35,414,976 38,845,918

Short Term Financial Assets 3,351,976,532 1,665,831,506

Cash and Cash Equivalents 1,466,257,446 6,915,908,162

Total Current Assets 5,245,853,826 8,906,795,965

Total Assets 20,489,275,637 23,773,687,822

EQUITY AND LIABILITIES

Capital and Reserves

Stated Capital 18,226,455,905 14,984,610,448

Share pending for Allotment - 3,241,845,456

Retained Earnings 767,668,478 563,345,094

Foreign Currency Translation Reserve 32,268,029 -

Total Equity 19,026,392,412 18,789,800,998

Non-Current Liabilities Interest Bearing Loans & Borrowings 894,186,815 1,034,334,634

Employee Benefit Liabilities 51,034,972 51,142,973

Total Non-Current Liabilities 945,221,787 1,085,477,607

Current Liabilities Interest Bearing Loans & Borrowings 248,241,260 248,241,260

Trade and Other Payables 168,524,581 3,238,854,954

Income Tax Payable 31,257,313 68,442,982

Amounts Due to Related Parties 69,638,284 342,870,022

Bank Overdraft - -

Total Current Liabilities 517,661,438 3,898,409,217

Total Equity and Liabilities 20,489,275,637 23,773,687,822

Net assets per share 14.09 16.37

Notes:





COMPANY STATEMENT OF CASH FLOWS

Six Month Ended 30th September 2021 2020

Cash Flow from/( used) in Operating Activities Net Profit before Taxation 1,290,774,752 127,859,062

Adjustments for

Depreciation & Amortization 11,574,125 14,425,470

Loss/ (Gain) on Fixed Asset Disposal (10,000,000) (2,645,000)

Interest Cost 17,877,655 14,865,535

Profit on other project (25,723,286) (1,870,000)

Dividend Income (1,108,879,813)

Interest Income (108,194,653) (18,106,538)

Operating Profit before Working Capital Charges 67,428,779 134,528,529

(Increase)/Decrease in Trade & Other Receivables (105,991,791) 735,104,667

(Increase)/Decrease in Amounts due from Related Parties 3,430,942 23,705,994

Increase/(Decrease) in Amounts due to Related Parties (273,231,738) 155,164,044

Increase/(Decrease) in Trade & Other Payables (3,070,330,372) (640,329,654)

(3,446,122,959) 273,645,052

Cash Generated from/(used in) Operations (3,378,694,180) 408,173,581

Interest Paid (17,877,655) (14,865,535)

Income Tax Paid (110,560,332) (126,905,863)

Gratuity Paid (108,000) 8,032,839

(128,545,987) (133,738,559)

Net Cash from/(used in) Operating Activities (3,507,240,167) 274,435,022

Cash Flows from/(used in) Investing Activities Interest Income 108,194,653 18,106,538

Dividend Income 1,108,879,813 -

Dividend Paid (1,013,076,707) -

Acquisition of Property, Plant & Equipment (4,413,539) (28,273,482)

Investment in Associates- Local (360,345,830) -

Short Term Investments - Fixed Deposit (1,686,145,026) (325,396,678)

Net Cash Flow from/(Used in) Investing Activities (1,846,906,636) (335,563,620)

Cash Flows from/(used in) Financing Activities

Cash on other project 25,723,286 1,870,000

Proceeds from Sale of Fixed Assets 10,000,000 2,645,000

Net Proceeds/Repayments from Interest Bearing Borrowings (131,227,200) (54,638,368)

Net Cash Flow from/ (Used in) Financing Activities (95,503,914) (50,123,368)

Net Increase/(Decrease) in Cash and Cash Equivalents (5,449,650,716) (111,251,966)

Cash and Cash Equivalents at the Beginning of the Period 6,915,908,162 117,441,648

Cash and Cash Equivalents at the End of the Period 1,466,257,446 6,189,682



COMPANY STATEMENT OF CASH FLOWS

Analysis of Cash and Cash Equivalents Cash at Bank - Favorable 1,466,257,446 228,257,490

Bank Overdrafts (222,067,808)

1,466,257,446 6,189,682

Notes:






COMPANY STATEMENT OF CHANGES IN EQUITY

Stated Capital Shares Pending

for Allotment Retained Earnings Total Equity


14,984,610,449

-

51,264,240

15,035,874,689

Net Profit for the Period

-

-

101,640,551

101,640,551

Dividends - Ordinary Shares

-

-

-

-

Balance as at 30th September 2020

14,984,610,449

-

152,904,791

15,137,515,240


14,984,610,448 3,241,845,456

563,345,094

18,789,800,998

Issue of Share Capital 3,241,845,456 (3,241,845,456) - -

Net Profit for the Period

-

1,217,400,090

1,217,400,090

Other Comprehensive Income

32,268,029

32,268,029

Dividend - Ordinary Shares

- (1,013,076,706)

(1,013,076,706)

Balance as at 30th September 2021

18,226,455,905

-

799,936,507

19,026,392,412

Notes:






SEGMENTAL INFORMATION

Information based on the primary segments (Business Segments)

Six Months Ended 30th September 2021 Wind Solar Hydro Holding Other/

Elimination Group

Revenue

1,633,632,587

673,439,702

310,403,069

294,820,625

(251,038,500)

2,661,257,483

Direct Cost

(661,208,053)

(190,678,707)

(93,988,543)

(4,835,267)

146,856,900

(803,853,669)

Gross Profit

972,424,534

482,760,996

216,414,526

289,985,359

(104,181,600)

1,857,403,814

Other Income

-

-

-

1,239,875,171

(1,181,628,509)

58,246,661

Administration Expenses

(103,876,695)

(54,298,183)

(29,398,997)

(235,402,110)

104,178,900

(318,797,086)

Net Finance cost

(21,566,566)

(87,486,693)

(21,740,594)

87,394,110

-

(43,399,743)

Profit from Operating Activities

846,981,273

340,976,120

165,274,935

1,381,852,529

(1,181,631,209)

1,553,453,647

Associate profit

-

-

-

-

-

240,233,552

Profit before Tax of the Group

846,981,273

340,976,120

165,274,935

1,381,852,529

-

1,793,687,199

As at 30th September 2021 Wind

LKR Solar

LKR Hydro

LKR Holding

LKR

Other/ Elimination

LKR Group

LKR

Total Non-Current Assets

7,694,758,164

4,779,787,391 2,467,380,001 19,058,871,178

(12,300,847,284) 21,699,949,450

Total Current Assets

2,253,681,388

798,483,747

217,219,107

5,398,801,254

-

8,668,185,496

Total Assets

9,948,439,552

5,578,271,138

2,684,599,108

24,457,672,432

(12,300,847,284)

30,368,134,946

Total Non-Current Liabilities

1,435,140,291

2,104,519,410

648,760,542

1,006,180,833

-

5,194,601,076

Total Current Liabilities

324,769,561

756,115,619

179,299,305

553,894,878

-

1,814,079,364

Total Liabilities

1,759,909,852

2,860,635,029

828,059,847

1,560,075,711

-

7,008,680,439

Notes:






EXPLANATORY NOTES TO THE INTERIM FINANCIAL STATEMENTS

1. Basis of Preparation

The condensed interim financial statements have been prepared in accordance with Sri Lanka Accounting

Standard LKAS-34, Interim Financial Reporting. The condensed interim financial statements should be read in

conjunction with the annual financial statements for the year ended 31st March 2021, including the changes to

accounting policies as a result of convergence to revised Sri Lanka Accounting Standards (SLFRSs/LKASs). Further,

provisions of the Companies Act No. 7 of 2007 have been considered in preparing the interim financial

statements.

2. Changes in Accounting Policies

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements

are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for

the year ended 31st March 2021.

3. Contingent Liabilities

There have been no material changes to the contingencies disclosed in the annual audited financial statements

for the year ended 31st March 2021.

4. Events after the Reporting Period

There have been no material events occurring after the reporting period that require adjustments to or

disclosure in the financial statements.

5. Earnings Per Share

Basic Earnings Per Share

Basic earnings per share is calculated by dividing the net Profit/(Loss) for the year attributable to ordinary

shareholders by the weighted average number of ordinary shares outstanding during the year as required by

LKAS - 33, Earning per share.

Group Company

2021/2022 2020/2021 2021/2022 2020/2021

Net Profit attributable to Ordinary Shareholders (LKR)

1,426,769,593

1,411,476,757

1,249,668,119

101,640,551

Weighted Average Number of Shares Outstanding during the period

1,324,196,438

1,148,153,601

1,324,196,438

1,148,153,601

Earnings per Share (LKR)

1.08

1.23

0.94

0.09



EXPLANATORY NOTES TO THE INTERIM FINANCIAL STATEMENTS

6. Net Asset Value Per Share

Group Company

As at 30th September 2021

As at 31st March 2021

As at 30th September 2021

As at 31st March 2021

Total Equity (LKR)

21,356,344,239

20,958,613,338

19,026,392,412

18,789,800,998

Number of Shares Outstanding at the end of the period

1,350,768,942

1,148,153,601

1,350,768,942

1,148,153,601

Net asset value per share (LKR)

15.81

18.25

14.09

16.37

7. Utilization of Funds Raised by the Initial Public Offering

Objective Number

Objective as per

Prospectus/Circular

Amount Allocated as

per Prospectus/Cir

cular in LKR

Proposed Date of

Utilization as per

Prospectus/Circular

Amount allocated from

Proceeds in LKR (A)

% of Total

Proceeds

Amounts Utilized in

LKR (B)

% of Utilization

against Allocation

(B/A)

Clarification if not fully utilized

including where the funds are invested

1 Mannar Wind Power Project

927,000,000 2021 Q4 927,000,000 29% - 0%

Funds will be allocated in Q3 and Q4. Currently funds are invested in FDs & Unit Trusts

2 Senegal Solar Power Project

1,383,000,000 2021 Q3 1,383,000,000 43%

- 0%

Projects approvals are not yet finalized. Currently funds are invested in FDs & Unit Trusts

3 Future Projects 931,845,456 Not

Disclosed 931,845,456 29% 290,000,000 31%

3.1 Sky Solar Private Ltd.

200,000,000 Further, LKR 65 Mn. to be invested in Q3

3.2 Solar Universe Private Ltd

90,000,000

Further, LKR 80 Mn. to be invested in Q3 & Q4

3,241,845,456

3,241,845,456

290,000,000



SHARE INFORMATION AS AT 30TH SEPTEMBER 2021

1. Market Price per Share 2021 2020

LKR LKR

Highest 18.80 N/A

Lowest 18.40 N/A

Closing 18.70 N/A

Number of Shares 1,350,768,942 N/A

Market Capitalization on 30th September

25,259,379,215 N/A

2. Shares of the Company were listed on the Colombo Stock Exchange on the 22nd of April

2021

3. Public Holding as at 30th September, 2021 2021 2020

Issued Share Capital (No. of Shares)

1,350,768,942 N/A

Public Holding as % of Issued Share Capital 24.12% N/A

Total Number of Shareholders

3,223 N/A

Number of Shareholders representing the Public Holding

3,202 N/A

Float Adjusted Market Capitalisation - (LKR)

6,091,299,298

The Company complies with Option 3 of the Listing Rules 7.13.1 (a) - LKR 5.0 Bn Float Adjusted Market Capitalisation,

which requires 7.5% minimum Public Holding.



Board of Directors No. of Shares

Chief Executive Officer No. of Shares

Mr. J. B. S. L. Wimalasena 312,500

SHARE INFORMATION AS AT 30TH SEPTEMBER 2021 4. The number of shares held by the Board of Directors & the CEO as at 30th September, 2021 are as follows:

Mr. Ranil Pathirana 1,963,323

Mr. Asgi Akbarally 166,145

Mr. Manjula Perera 42,463,018

Mr. Huzefa Akbarally 166,145

Mr. Hussain Akbarally 166,145

Mr. Moiz Najmudeen NIL

Mr. Vinod Hirdaramani 166,145

Mrs. Saumya Amarasekera NIL

Mr. Dilshan Hettiarachchi 332,888

Mr. Savantha De Saram NIL

Total 45,423,809



SHARE INFORMATION AS AT 30TH SEPTEMBER 2021

5. Top 20 Major Shareholders

No Name of Shareholder 30th September 2021

No. of Shares Holding

1 Akbar Brothers Pvt Ltd 485,088,559 35.91%

2 Hirdaramani Private Limited 279,211,864 20.67%

3 Debug Investments (Private) Limited 164,015,357 12.14%

4 BBH-Tundra Sustainable Frontier Fund 70,000,000 5.18%

5 Amaliya Private Limited 44,676,827 3.31%

6 Mr. K.B.M.I. Perera 42,463,018 3.14%

7 Hirdaramani Power Private Limited

31,827,927 2.36%

8 Tea House (Pvt) Ltd

13,092,218 0.97%

9 Mr. H.M. Udeshi

11,050,000 0.82%

10 Hatton National Bank PLC-NDB Wealth Growth And Income Fund

9,444,453 0.70%

11 Saboor Chatoor (Pvt) Ltd

8,300,000 0.61%

12 BBH-RWC Frontier Markets Equity Master Fund Limited

7,600,000 0.56%

13 Mr. M.K.T. Darwazeh

7,413,761 0.55%

14 Mr. S.K.T. Darwazeh

7,413,761 0.55%

15 Deutsche Bank Ag As Trustee To Assetline Income Plus Growth Fund

7,000,000 0.52%

16 Marina Blue (Private) Limited

6,969,184 0.52%

17 Quick Tea (Pvt) Ltd

6,568,003 0.49%

18 Mouldex Limited

6,501,339 0.48%

19 Mr. N.A. Madanayake

6,499,957 0.48%

20 Rosewood (Pvt) Limited

6,000,000 0.44%

Other Shareholders

129,632,714 9.60%

Total

1,350,768,942 100.00%



CORPORATE INFORMATION

NAME OF THE COMPANY

WindForce PLC

LEGAL FORM

Incorporated in Sri Lanka on 06 July 2010 as a

Private Limited Liability Company under the provisions of

Companies Act No. 7 of 2007. The legal form of the company was

changed to a Public Limited Liability Company and was listed on

the Colombo Stock Exchange 22 April 2021.

DATE OF INCORPORATION

06 July 2010

COMPANY REGISTRATION NUMBER

PQ00234079

NATURE OF THE BUSINESS

Generate and Supply Electric Power to the National Grid

REGISTERED OFFICE AND CURRENT PLACE OF BUSINESS

WindForce PLC

No. 334, T.B. Jayah Mawatha, Colombo 10.

Tel: +94 11 269 7151

Fax: +94 11 465 424

E-mail: [email protected]

Web: www.windforce.lk

BOARD OF DIRECTORS

Mr. R. P. Pathirana – Chairman

Mr. A. A. Akbarally – Deputy Chairman

Mr. K. B. M. I. Perera – Managing Director

Mr. Huzefa Akbarally

Mr. Hussain Akbarally

Mr. M. Najmudeen

Mr. V. K. Hirdaramani

Mrs. Saumya Amarasekera

Mr. Dilshan Hettiaratchi

Mr. Savantha De Saram

COMPANY SECRETARY

Nexia Corporate Consultants (Private) Limited

No. 181, Nawala Road, Colombo 05.

Tel: +94 11 451 5236

Fax: +94 11 258 7490

AUDITORS TO THE COMPANY

B.R. De Silva & Co. (Chartered Accountants)

No. 22/4, Vijaya Kumaranatunga Mawatha, Colombo 5.

Tel: +94 11 251 3421

Fax: +94 11 451 2404

BANKERS TO THE COMPANY

Commercial Bank of Ceylon PLC

DFCC Bank PLC,

Hatton National Bank PLC

Sampath Bank PLC

National Development Bank PLC

Seylan Bank PLC

Standard Chartered Bank (Sri Lanka) Limited

Hongkong and Shanghai Banking Corporation Limited

Pan Asia Banking Corporation PLC

Bank of Ceylon

Diamond Trust Bank

Standard Chartered Bank Uganda Ltd

HSBC Bank (Mauritius) Limited

Standard Chartered Bank (Mauritius)

Documents

MANAGING DIRECTOR’S MESSAGE