Financial Statements - Hemas Holdings, Ltd

DRIVING PERFORMANCE ● ENRICHING LIVES105 Hemas Holdings PLC Annual Report 2012/1315 INVESTMENT IN JOINT VENTURESCompanyCompany2013 2012 1 April 2011 2013 2012 1 April 2011Holding % Rs.’000 Rs.’000 Rs.’000Hellmann Worldwide Logistics (Pvt) Ltd. 49% 49% 49% 8,475 8,475 8,475Hemas International Freight (Pvt) Ltd. 49% 49% 49% 30,044 30,044 30,044ACX International (Pvt) Ltd. - 10,676 -38,519 49,195 38,519Less- Impairment in Investment - (10,676) -38,519 38,519 38,51915.1 Proportionate Interest in Joint VenturesAggregate amounts of Group’s proportionate share of Heladhanavi Ltd (47%), HIF Logistics (Pvt) Ltd (49%) , Skynet Worldwide Express(Pvt) Ltd. (49%) and Hellmann Worldwide Logistics (Pvt) Ltd, (49%), ACX International (Pvt) Ltd (49%),H & M Shipping (Pvt) Ltd (50%)included in the Group financial statements are as follows:2013 2012Rs.’000 Rs.’000Statement of Financial Positiona) Current Assets 2,382,797 2,096,507b) Non Current Assets 1,256,577 1,399,577c) Current Liabilities 2,087,228 2,142,078d) Non Current Liabilities 388,451 179,778Income Statemente) Revenue 5,490,743 4,477,903f) Net Profit 195,421 185,61016 INVESTMENT IN ASSOCIATESThe Group has a 19.9% interest in Jada Resort (Pvt) Ltd which is involved in hotel operations. Jada resorts is a Private Limited companythat is not listed on any public exchange.Group2013 2012 1st April 2011Rs.’000 Rs.’000 Rs.’000Group’s Share of Associate’s Statement of Financial PositionCurrent Assets 81,807 38,687 21,200Non Current Assets 315,108 157,461 165,238Current Liabilities 70,990 15,195 17,658Non-Current Liabilities 104,600 1,554 778Equity 221,325 179,399 168,002Share of the Associate Revenue 48,009 75,037 -Share of the Associate Profit Before Tax 1,554 11,925 -Share of the Associate Profit After Tax 589 11,397 -Carrying Amount of the Investment 221,325 179,399 168,002