Guardian Capital expands portfolio to Rs.367mn amid new investments

Private equity firm Guardian Capital Partners (WAPO), which was earlier known as Watapota Investments, expanded its investment portfolio to Rs.367 million at the end of the 2017 financial year, from Rs.221 million year-on-year (YoY).
WAPO invested Rs.87 million in two new entrants to its portfolio during the year, Rs.42 million in hospitality and banking sector vocational training institute, Swiss Institute for Service Industry Development (Pvt) Ltd., and Rs.45 million in local booking engine Findmyfare.
The portfolio appreciated by Rs.50.7 million during the year due to fair value gains, with Rs.30 million in fair value gains from Hsenid Business Solutions (Pvt ) Ltd and Rs.20.6 million from LVL Energy Fund Ltd.
Therefore, WAPO’s investment position in its largest investment, LVL Energy Fund, increased to Rs.103.1 million, or 28 percent of WAPO’s total portfolio, after taking into account an additional Rs.7.5 million invested in LVL Energy Fund through a rights issue.
The size of the investment in Hsenid increased to Rs.70 million, or 19 percent of WAPO’s portfolio. WAPO has also invested Rs.10.3 million in Kashmi Singapore Pte Ltd.
Of WAPO’s listed investments, Access Engineering PLC made up Rs.55.1 million, and Expolanka Holdings PLC made up Rs.41.1 million, with only a marginal appreciation in the investment value due to fair gains.

WAPO’s total asset base at the end of the year was Rs.738.87 million, up from Rs.658.65 million at the start of the financial year.
 Revenue for the year increased to Rs.48.34 million from Rs.25.85 million YoY and profits on investment activities increased to Rs.49.18 million from Rs.37.68 million YoY.  Net profits for the year increased to Rs. 36.13 million from Rs. 21.82 million YoY.
 The Carson Cumberbatch group controls 86.22 percent of the shares in WAPO.