First Capital records highest-ever PAT of Rs. 2.09 b in FY21

First Capital Holdings PLC has recorded a Consolidated Profit After Tax (PAT) of Rs. 2.09 billion for the financial year 2020/21. 

The results show a significant growth compared to the Consolidated Profit After Tax of Rs. 1.07 billion recorded in the previous year.  The Total Comprehensive Income recorded for year 2020/21 is Rs. 2.01 billion compared to Rs. 1.04 billion reported in the previous year. 

The Company’s financial position remains strong with total assets of Rs. 36.7 billion and equity in excess of Rs. 4.8 billion. First Capital is a member of the Janashakthi Group.

First Capital Holdings Chairman Nishan Fernando said: “Our progress during the year is a testament to our strength as a trusted institution with a history of over 35 years.”

First Capital’s Primary Dealer division contributed Rs. 1.83 billion in Profit After Tax for the year 2020/21, strengthening its position as market leader.

The Company’s Corporate Finance division contributed Profit After Tax of Rs. 265 million for the financial year. Moreover, the division mobilised over Rs. 10.5 billion in listed and unlisted debentures during the period. 

The Company’s Wealth Management division recorded a Profit After Tax of Rs. 83 million for the year, delivering its best financial results to date. The division showed significant growth in its assets under management from Rs. 26.4 billion (31 March 2020) to end at Rs. 45.2 billion as of 31 March 2021. 

The Company’s benchmark unit trust, the First Capital Money Market Fund, has been the fastest growing fund in its category (Open-Ended Money Market Fund) to surpass Rs. 20 billion in assets.

The Company’s Stock Brokering division recorded a substantial increase in Profit After Tax of Rs. 75 million for the year 2020/21.

Director/ Chief Executive Officer Dilshan Wirasekara said: “This year we have delivered our best financial performance in history. As we embark on a new strategic plan, designed to steer our future growth, we remain optimistic about our ability to deliver value to all our stakeholders.”  

Further reinforcing the Company’s stable financial position, ICRA ratings upgraded First Capital Holdings PLC to [SL]A with a ‘stable’ outlook. 

First Capital Holdings declared an interim dividend of Rs. 5 per share amounting to Rs. 506.25 million for the year 2020/21 in March 2021.

The First Capital Holdings Board of Directors comprises of Chairman Nishan Fernando, Managing Director Dinesh Schaffter, Director/CEO Dilshan Wirasekara, Prakash Schaffter, Ramesh Schaffter, Eardley Perera, Minette Perera, Chandana de Silva and Nishan de Mel.