Corporate News
View all(84)### Hayleys PLC Hits Rs. 500 Bn Revenue Milestone 📈
Hayleys Group has reported record financial results for the 2025/26 financial year, driven by strong domestic demand and resilient export performance. • Overall Performance: Revenue reached Rs. 585.02 Bn, a 19% YoY increase. Profit Before Tax (PBT) rose 4% to Rs. 38.04 Bn. • Sector Growth: The Consumer & Retail sector was a key driver, posting a 44% revenue surge to Rs. 156.74 Bn. • Export Resilience: Export-oriented sectors recorded a 14% revenue growth, supported by market diversification and value-added strategies. • Operational Highlights: Consolidated EBITDA increased to Rs. 64.82 Bn (+8%). The group now employs over 38,700 people, underscoring its significant role in national employment. • Financial Position: Fitch Ratings reaffirmed the Group’s 'AAA (lka)' rating. A successful Rs. 9 Bn Rights Issue has bolstered the capital base for future strategic investments. • Sustainability: The group achieved a 1% increase in GHG emissions despite significant business expansion, reflecting efforts to decouple growth from environmental impact. The Group remains focused on expanding its portfolio in mobility and supermarket sectors to capture emerging market opportunities. 🚀
Sunshine Holdings FY26: Resilient Revenue Growth Amid Margin Pressures 📈
Sunshine Holdings (SUN) reported a strong top-line performance for the year ended 31 March 2026, driven by core sector expansion. • Overall Performance: • Revenue: LKR 65.9 Bn (+11.2% YoY) • Gross Profit: LKR 19.0 Bn (+6.7% YoY) • PAT: LKR 5.0 Bn (-2.5% YoY) • EBIT: LKR 9.3 Bn (Stable) • Sector Contributions: • Healthcare: 56.8% of revenue (LKR 37.4 Bn, +14.9% YoY). Strong growth in pharma and distribution, though profitability was squeezed by NMRA pricing adjustments. • Consumer: 28.9% of revenue (+2.8% YoY). Driven by resilient performance in branded tea (Zesta, Watawala, Ran Kahata) and growth in the confectionery segment. • Agribusiness: 14.3% of revenue (+18.9% YoY). Primarily supported by strong performance in the palm oil business. • Strategic Highlights: • Acquisition of Joint Agri Products Ceylon (JAPC) to bolster value-added exports of spices, coconut, and tea. • Group strategy focuses on scaling high-performing verticals and expanding presence in domestic and international markets. _Note: Profitability margins moderated primarily due to sector-specific pricing pressures in healthcare and restated tax expense reporting._
### Prime Lands Exits HNB Finance in Rs. 3.52 Bn Deal 📈
Prime Lands (Pvt) Ltd has completed a full divestment of its stake in HNB Finance PLC today, marking a significant shift in the finance sector. • Transaction Details: Prime Lands sold its entire 23.29% holding, totaling 400 million shares. • Deal Value: The shares were transacted at Rs. 8.80 each, resulting in a total deal value of Rs. 3.52 billion. • Corporate Impact: Prime Lands was the second-largest shareholder of the company; notably, the Chairman of Prime Lands, B. Premalal, also served on the Board of Directors of HNB Finance PLC. This transaction represents a major movement within the non-bank financial institutions space, reflecting ongoing portfolio realignments in the local market.
United Motors Lanka Records Highest-Ever Profit of LKR 3.6 Bn in FY26 📈
United Motors Lanka PLC (UML) announced a strong financial performance for the financial year ended 31 March 2026, marking a sharp recovery across both Group and Company levels following the lifting of the vehicle import ban. • Overall Financial Figures: • Group Net Profit reached an all-time high of LKR 3.61 Bn, representing an increase of LKR 3.54 Bn (up 4,847% YoY) from LKR 73 Mn in the previous year. • At the Company level, net profit grew by 551% YoY to LKR 2.20 Bn, up from LKR 338 Mn. • Group Revenue surged by 345% YoY to LKR 52.36 Bn, compared to LKR 11.77 Bn in the prior year. Company revenue rose 307% YoY to LKR 25.77 Bn. • Sector & Operational Breakdowns: • Performance was primarily anchored by the rapid recovery in vehicle sales post-import restrictions, alongside solid momentum in after-sales operations. • Demand was captured across diverse segments including passenger vehicles, mid-range Mitsubishi SUVs, and commercial vehicle segments (FUSO trucks and buses). • Subsidiary performance was significantly bolstered by Unimo Enterprises' entry-level Perodua range, expansion into the Electric Vehicle (EV) and Range Extended Electric Vehicle (REEV) segments, and the export of locally manufactured trailers via Dutch Lanka Trailers. _Note: Financial results are based on disclosed full-year corporate earnings data for FY2025/26._
📈 NSB Group Posts Rs. 15.5 Bn Operating Profit in 1Q 2026
The State-owned National Savings Bank (NSB) Group reported a resilient performance for the first quarter ended 31 March 2026, driven by a stronger core banking income base and disciplined balance sheet management. • Overall Financial Performance • Group Profit Before Tax (PBT) reached Rs. 11.8 Bn, while Profit After Tax (PAT) stood at Rs. 7 Bn. • Total operating income increased by 5.0% to Rs. 22.5 Bn. • Net Interest Income grew by 8.1% year-on-year (YoY) to Rs. 21.8 Bn, driven by optimized funding costs. • Net Fee and Commission Income surged 53.5% YoY to Rs. 760.6 Mn, reflecting expanded transaction-led banking activity. • The bank made a substantial national contribution with Rs. 8.5 Bn paid in total taxes for the quarter. • Balance Sheet & Savings Mobilization • Total customer deposits stood robust at approximately Rs. 1.6 T, reinforcing NSB's national savings mandate. • The measured expansion of the lending portfolio saw loans and advances rise to Rs. 556.1 Bn from Rs. 550.8 Bn at the end of 2025. • Financial assets held in debt and other instruments at amortized cost reached approx. Rs. 1.1 T. • Asset Quality & Capital Strength • Asset quality improved as the Stage 3 Impaired Loans ratio dropped to 2.34% (down from 2.53% in Dec 2025). • Stage 3 provision coverage was strengthened to 59.2%. • Capital reserves remained exceptionally strong with a Total Capital Adequacy Ratio of 24.90% and a Tier 1 ratio of 23.34%. • Liquidity indicators remained well above regulatory minimums, posting an All-Currency Liquidity Coverage Ratio of 335.54%.
📈 Global Energy Shocks & Sri Lanka's Path to HR Resilience
Recent escalations in the Iran–Israel–USA conflict have highly volatile impacts on global energy markets, severely testing developing economies like Sri Lanka. With an annual oil import bill estimated at US$ 4.00 Bn, Sri Lanka remains hyper-sensitive to external fuel price shocks. • Macroeconomic Impact: Surging oil prices have directly driven up domestic logistics, reduced industrial productivity, and intensified inflationary and cost-of-living pressures during the nation's fragile GDP recovery phase. • Crisis Management: To combat a 21% spike in demand caused by panic buying during peak shortages, the government successfully deployed a QR code-based fuel rationing system to ensure equitable distribution, while aggressively promoting remote work to curb national fuel demand. • The Role of HR: Building organisational resilience has fallen heavily on Human Resource Management. Strategic HR leaders are ensuring business continuity and supporting employment stability by implementing digital work platforms, cross-skilling workforces, and managing employee mental stress. • The Future of Work: Traditional operating structures face severe disruption. Survival now dictates a permanent shift toward digital infrastructure, flexible scheduling, and change-oriented frameworks to navigate unpredictable global supply chains. _Summary based on published analysis._
📈 Porsche Divests Entire 45% Stake in Bugatti Rimac Joint Venture
Luxury automaker Porsche has agreed to fully divest its equity stakes in Bugatti Rimac and the Rimac Group to a consortium led by New York-based HOF Capital, with Abu Dhabi’s BlueFive Capital as the largest investor. • Deal Structure: Porsche is selling its entire 45% minority stake in the Bugatti Rimac joint venture (established in 2021) along with its 20.6% stake in the Rimac Group. • New Ownership & Control: Following the transaction, Rimac Group (which currently holds a 55% stake) will take full control of Bugatti Rimac. • Strategic Outlook: The HOF Capital-led consortium, including institutional investors from the US and EU, will form a strategic partnership with Rimac Group to support future growth. Porsche stated the divestment allows it to refocus on its core business, while Bugatti Rimac aims to accelerate its long-term vision under the new structure.
📈 PickMe Posts Record Growth in FY25/26, Distributes Rs. 73 Bn to Earners
Digital Mobility Solutions Lanka PLC (DMSL), owner of the PickMe brand, reported its strongest annual financial performance for the year ended 31 March 2026. Overall Financial Performance • Gross Transaction Value (GTV) surged 49% YoY to Rs. 84.5 Bn. • Annual revenue grew by 49% YoY to Rs. 8.7 Bn. • Net profit increased by 88% YoY to Rs. 2.2 Bn, while operating profit rose 90% to Rs. 3.1 Bn. • Q4 revenue grew 46% YoY to Rs. 2.5 Bn, with Q4 net profit up 86% to Rs. 698 Mn despite domestic fuel price hikes and rationing. • The Board proposed a final dividend of Rs. 2.60 per share, bringing the total FY26 dividend to Rs. 4.30 per share (65% payout ratio). Economic & Sector Impact • Livelihood & SME Support: Distributed over Rs. 73 Bn directly to its network of over 167,000 independent drivers and 5,000+ merchants/SMEs, boosting national employment and local digital commerce infrastructure. Driver net earnings rose by over 14%. • National Taxes: Contributed Rs. 2.7 Bn in national taxes (VAT, SSCL, Corporate Tax) during the financial year. • Sustainability Initiatives: Partnered with Browns EV and LOLC Holdings for a Rent-to-Own electric vehicle scheme to shield micro-entrepreneurs from rising fuel costs and build long-term asset ownership.
ADRA Ceylon Celebrates 10 Years of Leading Global Tea Exports 📈
• Overall Milestones: ADRA Ceylon (part of Pink Eagle Group) marks its 10th anniversary, transitioning from a local bulk tea exporter into a globally recognized premium brand. The company now exports to over 37 countries. • Market & Sector Focus: Originally focused on bulk tea, the company has aggressively diversified into high-margin, value-added segments. This includes customized herbal infusions, bubble tea base solutions, and private label packaging to capture greater global market value. • Geographic Expansion: Following early entry into East Asia with a branch in Taiwan, ADRA Ceylon expanded its footprint into the highly competitive Gulf, UK, and French markets during its 10th year of operations. • Operations & Employment: Driven by stringent quality standards, the firm holds major international certifications (ISO 22000:2018, HACCP, Rainforest Alliance, FDA). Company growth has expanded its workforce to nearly 150 professionals, contributing to a total of 350 employees across the parent group. • Future Outlook: For its second decade, the company plans to open 5-6 new international branches, launch wellness tea lines, and invest in factory upgrades, technological advancements, and eco-friendly packaging.
📈 JKH FY26 Financials: EBITDA Surges 75% to Rs. 80 Bn
John Keells Holdings PLC (JKH) reported a powerful financial performance for FY2025/26, signaling a transition from heavy capital deployment to strong cash generation. Overall Financial Highlights • Group Revenue: Up 61% YoY to Rs. 572 Bn. • Group EBITDA: Rose 75% YoY to Rs. 80.01 Bn (Recurring EBITDA up 71% to Rs. 78.05 Bn). • Recurring Profit Before Tax: Increased 143% YoY to Rs. 35.72 Bn. • Net Profit: Bottom line attributable to shareholders jumped 155% YoY to Rs. 13.24 Bn. • Total Dividends: Doubled to 30 cents per share in FY26 (Rs. 4.42 Bn total outlay) vs. 15 cents in FY25. • Group ROCE: Improved to 9.0% from 5.1% YoY (excludes the newly opened integrated resort, existing portfolio delivered 17% ROCE). Key Sector Performance • Leisure & Entertainment: Significant EBITDA growth across all sectors driven by occupancy. City of Dreams Sri Lanka recorded positive full-year EBITDA, with casino operations picking up in Q4. • Transportation & Logistics: Colombo West International Terminal (WCT-1) saw strong throughput growth, hitting full phase 1 capacity utilization based on its monthly run-rate, and posting better-than-expected net profit. • Retail & Consumer: Supermarket same-store sales grew ~14%, driven by a 14.3% footfall surge. Beverages and Confectionery saw strong volume growth. • Automotive: John Keells CG Auto marked an exceptional year, driven by pent-up demand and the BYD vehicle range. • Financial Services: Nations Trust Bank saw higher profitability and completed the acquisition of HSBC Sri Lanka’s retail banking franchise effective 1 May 2026. Union Assurance recorded double-digit gross written premium growth. • Property: Launched the 749-unit Vauxhall DSTRCT residential project in Colombo 02 in March 2026.
📈 People's Bank Group Delivers Strong 1Q 2026 Growth with Rs. 20 Bn PBT
Overall Financial Performance • Group PBT: Reached Rs. 20.0 Bn, a 13.5% YoY increase. • Standalone PBT: Recorded at Rs. 16.6 Bn for the quarter ended 31 March 2026. • Group Net Interest Income: Surged 22.9% to Rs. 47.4 Bn, while standalone net interest income rose 17.5% to Rs. 40.1 Bn. • Net Interest Margin (NIM): Group NIM expanded to 4.6% (from 4.4%); Standalone NIM increased to 4.3% (from 4.1%). Balance Sheet & Asset Quality • Total Assets: Group assets expanded to Rs. 4.2 T (Standalone: Rs. 3.8 T). • Deposits & Loans: Standalone customer deposits hit Rs. 3.3 T, with net loans at Rs. 1.8 T (Group Net Loans: Rs. 2.1 T). • Asset Quality: Stage 3 (impaired loans) ratio improved to 7.2% (down from 7.7%), while Stage 3 provision coverage strengthened to 50.0% (up from 48.4%). Capital, Liquidity & National Contribution • Capital Boost: Raised Rs. 25.0 Bn via Sri Lanka's largest Basel III compliant Tier 2 debenture issuance, driving the Total Capital Adequacy Ratio (CAR) up to 17.9% (from 16.5% in late 2025). • Liquidity: Maintained a robust Rupee Liquidity Coverage Ratio (LCR) of 260.0%. • National Context: The state bank reinforced its role in banking & financial services and economic recovery by contributing Rs. 11.9 Bn in government taxes and donating Rs. 300 Mn to the "Rebuild Sri Lanka" initiative, while continuing to support MSMEs and financial inclusion.
📈 Tokyo Cement Posts Strong FY25/26 Revenue Amid Cost Pressures
Performance Overview • Q4 Turnover: Rose by 36% YoY to Rs. 17,623 Mn, up from Rs. 12,960 Mn. • Full Year Turnover: Reached Rs. 61,011 Mn, a 22% growth YoY. • Sales Volume: Grew by 28% for the fiscal year, outperforming the overall construction industry growth of 19%. Profitability & Margins • Q4 PAT: Declined to Rs. 577 Mn (vs Rs. 664 Mn last year). • Full Year PAT: Fell to Rs. 2,580 Mn (vs Rs. 3,459 Mn last year) as the company absorbed cost escalations to protect market share, alongside higher depreciation from capacity expansion and vessel acquisition. Industry Drivers & Constraints • Demand Triggers: National cement consumption grew 19% to 5.62 Mn MT, fueled by resumed government infrastructure, private construction projects, and post-Ditwah rebuilding. • Labor Issues: Shortages in both skilled and unskilled labor remained a critical constraint for the sector. Macroeconomic Environment • Currency & Costs: The Rupee depreciated by 6.0% in Q4, paired with a 38% fuel price hike that spiked distribution costs. • Construction PMI: Volatility was evident, hitting a peak of 75 in January before dipping to 57 in March. Outlook • Near-term earnings are expected to remain subdued due to rising input costs and adverse weather. However, the medium-term outlook is cautiously optimistic, backed by upcoming projects like the Central Expressway (Rambukkana-Galagedara section) and 2026 budget infrastructure plans.