Sri Lanka Telecom PLC
Annual Report
2020

Financial reports

Statement of financial position

(All amounts in Sri Lanka rupees million)

As at 31 December	Notes	Group		Company
		2020	2019	2020	2019
Assets
Non-current assets
Property, plant and equipment	14	137,208	140,632	100,269	103,800
Right-of-use asset	14 (a)	8,750	10,372	78	513
Intangible assets	15	8,115	7,416	2,656	1,151
Investments in subsidiaries	16.1	–	–	14,821	14,821
Investments in associates	16.2	128	54	128	54
Deferred tax assets	23	185	223	–	–
Contract assets	24 (a)	560	707	155	148
Other receivables	18	2,748	2,897	2,732	2,868
Total non-current assets		157,694	162,301	120,839	123,355
Current assets
Inventories	19	3,367	3,565	2,634	2,768
Trade and other receivables	20	27,070	33,021	17,932	20,865
Current tax receivable		15	852	–	852
Contract assets	24 (a)	778	711	97	87
Other investments	17	3,666	3,112	3,646	3,082
Cash and cash equivalents	21	11,866	5,457	1,041	645
Total current assets		46,762	46,718	25,350	28,299
Total assets		204,456	209,019	146,189	151,654
Equity
Capital and reserves
Stated capital	28	18,049	18,049	18,049	18,049
Insurance reserve	27	1,044	917	1,044	917
Hedging reserve	12	30	(471)	–	(471)
Retained earnings		65,056	59,574	43,350	41,678
Equity attributable to equity holders of the Company		84,179	78,069	62,443	60,173
Non-controlling interest		102	98	–	–
Total equity		84,281	78,167	62,443	60,173
Liabilities
Non-current liabilities
Borrowings	22	45,684	49,178	40,860	42,820
Lease liability	14 (a)	7,377	8,238	27	50
Contract liabilities	24 (b)	660	538	660	533
Deferred income	24	1,832	2,076	1,832	2,057
Deferred tax liabilities	23	7,346	7,499	6,936	7,485
Employee benefits	26	5,204	4,697	4,358	3,806
Trade and other payables	25	5,371	1,677	3,955	346
Total non-current liabilities		73,474	73,903	58,628	57,097
Current liabilities
Borrowings	22	9,690	12,498	7,132	9,650
Lease liability	14 (a)	2,281	2,511	58	494
Contract liabilities	24 (b)	742	592	484	444
Deferred income	24	2,812	2,859	240	290
Current tax liabilities		560	308	73	–
Deferred tax liabilities	23	11	–	–	–
Trade and other payables	25	30,605	38,181	17,131	23,506
Total current liabilities		46,701	56,949	25,118	34,384
Total liabilities		120,175	130,852	83,746	91,481
Total equity and liabilities		204,456	209,019	146,189	151,654

The Notes on pages 150 to 212 form an integral part of these Financial Statements.

I certify that these Financial Statements have been prepared in compliance with the requirements of the Companies Act No. 07 of 2007.

Sanjeewa Samaranayake
Group Chief Financial Officer

The Board of Directors is responsible for these Financial Statements. These Financial Statements were approved by the Board of Directors on 9 March 2021.

Signed for and behalf of the Board,

Rohan Fernando
Chairman

Lalith Seneviratne
Director

9 March 2021