माथिल्लो मैलुङ खोला जलविद्युतको चौथो त्रैमासिक वित्तीय विवरणMathillo Mailun Khola Jalvidhyut: Q4 Financial Report

Mathillo Mailun Khola Jalvidhyut Limited

Ka. Ma. Na. Pa -04, Dhumbarahi, Kathmandu, Nepal

Un-Audited Financial Reports (Quarterly)

As on 4th Quarter (As at 2083.03.32) of the Fiscal Year 2082/083

FOURTH QUARTER DISCLOSURE AS OF 2083.03.32

AS PER SECURITIES REGISTRATION AND ISSUANCE REGULATION

ANNEXURE-14 (RELATED TO SUB REGULATION 1 OF REGULATION 26)

Statement of Financial Position

Amount in NPR

Particulars Un-Audited This Quarter Ending As at 2083.03.32 Un-Audited Previous Quarter Ending As at 2082.12.30 Audited Previous Corresponding Quarter As at 2082-03-32
Assets
Non Current Assets
Property, Plant & Equipment	11,122,010	11,667,661	13,638,447
Intangible Assets	2,663,026,738	2,689,850,679	2,770,673,086
Intangible Assets under development	112,625,550	108,767,356	103,119,198
Right of use Assets	7,769,142	8,008,728	8,727,485
Financial Assets	300,000	300,000	300,000
Total Non Current Assets	2,794,843,440	2,818,594,423	2,896,458,216
Current Assets
Financial Current Assets
Sundry Debtor and Receivables	85,419,213	48,942,630	46,980,121
Cash and Cash Equivalents	212,338,196	215,421,356	172,837,085
Other Financial Assets	2,428,000	2,601,000	3,377,000
Non- Financial Current Assets
Other Current Assets	17,756,114	16,733,198	15,430,366
Current Tax Assets	3,107,465	3,059,067	2,914,749
Total Current Assets	321,048,989	286,757,251	241,539,320
Total Assets	3,115,892,429	3,105,351,674	3,137,997,536
Equity and Liabilities
Equity
Share Capital	1,000,000,000	1,000,000,000	1,000,000,000
Retained Earnings	3,046,102	(22,175,264)	(106,788,130)
Other Reserves	2,669,140	1,556,310	1,556,310
Total Equity	1,005,715,242	979,381,046	894,768,181
Liabilities
Non Current Liabilities
Financial Liabilities
Non current Borrowings	1,913,457,145	2,050,925,145	2,028,623,145
Provisions	704,416	525,082	525,082
Lease Liabilities	8,325,326	8,885,648	8,885,647
Total Non- Current Liabilities	1,922,486,887	2,060,335,875	2,038,033,874
Current Liabilities
Other Financial Liabilities
Current Borrowings	137,468,000	15,120,000	126,002,000
Lease Liabilities	560,321	113,660	454,640
Other Financial Liabilities	47,670,358	49,319,723	77,603,525
Other Current Liabilities	1,991,621	1,081,371	1,135,317
Total Current Liabilities	187,690,301	65,634,753	205,195,482
Total Liabilities	2,110,177,187	2,125,970,628	2,243,229,356
Total Liabilities and Equity	3,115,892,429	3,105,351,674	3,137,997,536

Statement of Profit or Loss for the Quarter ending 32 Ashadh 2083

Particulars Current Period (32-03-2083) Previous Period (30-12-2082) Previous Corresponding Quarter (32-03-2082)

Revenue (Construction)	10,040,834	5,648,157	26,598,154
Cost of Sales (Construction)	(10,040,834)	(5,648,157)	(26,598,154)
Revenue from Sales of Electricity	431,136,027	327,496,698	349,560,886
Power Plant Operation Expenses	(49,255,026)	(37,434,687)	(56,578,259)
Gross profit	381,881,001	290,062,012	292,982,627
Other Income	-	-	357,750
Administrative and Other Operating Expenses	(23,067,314)	(17,208,640)	(19,355,507)
Depreciation	(3,892,411)	(2,934,930)	(3,039,351)
Amortization	(108,180,830)	(81,128,949)	(107,680,799)
Profit From Operation	246,740,445	188,789,493	163,264,720
Financial Income	2,257,971	1,679,916	2,224,634
Financial Costs	(135,439,369)	(104,126,057)	(172,321,573)
Profit/ (Loss)	113,559,047	86,343,352	(6,832,220)
Staff Bonus Provision	(2,271,181)	(1,726,867)	-
Income Tax Expenses	(4,875)	(3,620)	(4,888)
Profit/ (Loss) For the Period	111,282,991	84,612,865	(6,837,108)
Major Financial Highlights
Earnings Per Share (EPS)	11.13	8.46	(0.68)
Current Ratio	1.71	4.37	1.18
Net worth Per Share	100.57	97.78	89.48

Return on Assets (ROA) 3.57% 2.72% (0.22%)

Market Value Per Share - NPR 430.00 538.10 592.10

Financial Statements

• The Unaudited financial statements for the fourth quarter have been published as a part of this report.

• Service concession arrangements of MMKJL includes Mathillo Mailung Khola Jalvidhyut Aayojana (14.3 MW). Service concession arrangements are amortized over the contractual period as per the Power Purchase Agreement (PPA) of MMKJL. As per Generation License, life of Mathillo Mailung Khola Jalvidhyut Aayojana is up to 2107/11/26. Pursuant to the life of the project, the company has amortized the intangible assets from the commercial operation dated 28 Magh 2080. In case of Property, Plant & Equipment, depreciation has been calculated based on written down value based on their useful lives.

• An invoice of NPR. 43,11,36,027/- for Mathillo Mailun Khola Jalvidhyut power plant (14.3 MW) has been raised up to Ashadh 2083 for FY 2082/083

• The Total outstanding loan including term loan and working capital loans amount to NPR 2,05,09,25,145/-

• The Construction revenue and Construction cost of Mathillo Mailun Khola Jalvidhyut Aayojna (14.3MW),Madhya Mailung Khola Jalvidhyut Aayojana (13MW) and Mathillo Mailung "B" Jalvidhyut Aayojana ( 17MW) as per IFRIC-12 is NPR 1,00,40,834.

• The company has generated NPR 43,11,36,027/- as revenue from the sales of electricity and earned financial income amounting NPR 22,57,971/- from interest on call deposit.

Management Analysis

• The company has incurred NPR 4,92,55,026/- as Power Plant Operation Expenses, NPR 2,30,67,314/- as administrative and other operating expenses, NPR 38,92,411/- depreciation on PPE and NPR 10,81,80,830/- for amortization expenses for the year 2082 /083.

• The financial cost includes interest paid on long term loan and working capital loan amounting NPR 13,54,39,369/- Intangible assets under development includes expenses incurred for the development of Madhya Mailung Khola Jalvidhyut Aayojana (13 MW) cascade Aayojana and Mathillo Mailung "B" Jalvidhyut Aayojana (17 MW) amounting NPR 11,26,25,550 /-

Legal Proceedings

• During the period, no legal cases were raised or pending against the Company and from the company.

Analysis of Company's Share Transaction

• The major highlights of Share transactions during the quarter are as follows:

Particulars This Quarter Ending (32-03-2083) Previous Quarter Ending (30-12-2082) Corresponding Previous Year Quarter Ending (32-03- 2082)
Maximum price NPR.	546.60	613.00	693.59
Minimum price NPR.	430.00	525.00	535.70
Closing price NPR.	430.00	538.10	592.10
Total Turnover NPR.	11,00,82,917.61	49,62,55,143.70	28,30,13,097.50
Total Transactions	3,346	7,276	5877
No. of transaction Day	64	53	63
Total traded volume	2,17,595	8,50,077	4,66,591

Problems & Challenges

Internal Challenges

• Retention of skilled human resources.

• To maintain operational efficiency.

External Challenges

• Delay of statutory approvals & inconsistent regulatory and policy level commitment from the government regulatory agencies in the development of hydroelectric projects.

• Fluctuating cost of capital and devaluation of local currency.

• Natural disaster such as flood, earthquake, drought, etc.

• Lack of domestic suppliers for hydropower equipment and spare parts.

• Climatic Changes & Hydrological Risk.

• Riot, Strike, and Malicious Risk

Strategies

• Implementation of HR optimization plan.

• Lobbying with government agencies for investment friendly environment.

• Fund management and strategic investment as per the project investment plan.

• Adequate insurance policies against the loss due to natural disaster.

• Ensure effective equipment maintenance and spare parts availability.

Corporate Governance

The Board of Directors, Audit Committee, other Committees, and Management Team are committed to strengthening good corporate governance within the company. Mathillo Mailun Khola Jalvidhyut Limited has written manuals, policies, rules & guidelines for the proper functioning of the operation of the company.

Declaration

I, the General Manager of this Company, take the responsibility for the accuracy of the information and details mentioned in this report for the period up to the fourth quarter of fiscal year 2082/083, hereby declare that the information and details provided in this report are true, based on facts, and complete to the best of my knowledge and that information necessary for taking informed decision by the investors are not concealed.