Research Report of WindForce PLC for year ended 31st March 2024
Overview
WindForce PLC, established in July 2010, is Sri Lanka’s largest renewable energy producer with a significant global presence. The company specializes in the development, construction, and management of state-of-the-art renewable energy plants, focusing on wind, solar, and hydroelectric power. This report provides a detailed analysis of WindForce PLC’s financial performance, strategic initiatives, and future outlook based on the annual report for the year ending 31 March 2024.
Financial Performance Statement of Profit or Loss
- Revenue: WindForce PLC reported a consolidated revenue of LKR 5,851.8 million for the year ending 31 March 2024, an 18% increase from LKR 4,953.5 million in the previous year.
- Operating Profit: The operating profit for the year was LKR 2,855.8 million, reflecting a 26% increase from LKR 2,258.7 million in the previous year.
- Profit Before Tax: The profit before tax grew by 8% to LKR 2,555.1 million from LKR 2,358.9 million in 2023.
- Net Profit: The net profit after tax was LKR 1,750.6 million, a slight decline of 2% compared to LKR 1,782.9 million in the previous year.Balance Sheet
- Total Assets: As of 31 March 2024, total assets stood at LKR 38,041.9 million, down 4% from LKR 39,802.2 million in 2023.
- Total Equity: Total equity attributable to the equity holders of the parent was LKR 22,994.2 million, a marginal increase from LKR 22,820.7 million in the previous year.
- Total Liabilities: Total liabilities decreased by 14% to LKR 12,582.3 million from LKR 14,602.9 million in 2023.
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