📈 Nawaloka Hospitals Returns to Profit, Boosted by AI & Growth
• Nawaloka Hospitals PLC achieved a strong financial turnaround for the FY ended March 31, 2025, reporting a Net Profit of Rs. 56 million. This reverses the Rs. 305 million loss recorded in the previous year. • Revenue for the Group increased by 6% to Rs. 11.0 billion, driven by growth in patient volumes and medical tourism. Gross Profit reached Rs. 5.8 Bn. • The positive results were attributed to tighter cost management, strategic investments in digital health, and increased demand for specialised healthcare services. • Investor Confidence: The share price more than doubled from Rs. 3.90 (Mar 2024) to Rs. 8.00 (Sep 2025), boosting market capitalisation to Rs. 11.3 Bn. • The Group marked its 40th Anniversary by pioneering innovation, notably launching South Asia's first AI-powered Radiology Centre. This earned Nawaloka recognition as the "Leading Hospital in AI & Innovation – Asia Pacific 2025." • Post-financial year end, a successful debt settlement with Hatton National Bank significantly strengthened the Group’s balance sheet and improved liquidity. 🏥
Tokyo Cement Q2 Results: Construction Rebounds, Revenue Up 18% 📈
Tokyo Cement Group reports sustained volume growth driven by a rebound in the construction and real estate sectors for Q2 (ending Sep 30, 2025). • Financials: Turnover rose to Rs. 16,322 Mn from Rs. 13,833 Mn YoY, marking an 18.0% increase. • Profit After Tax (PAT): Contracted by 7.3% to Rs. 1,003 Mn (down from Rs. 1,082 Mn YoY) due to contracted margins following the capitalisation of Trincomalee expansion projects. • Sector Highlights: September 2025 recorded the highest cement sales volumes since the 2022 economic crisis. This recovery is supported by lower interest rates, improved private sector credit, and fewer weather disruptions. • Macro-Outlook: Sri Lanka's economy grew an estimated 4.8% in H1 2025. The sovereign rating was upgraded by all three major agencies. Future growth is anticipated from government infrastructure (e.g., Central Expressway) and new multilateral lending agreements (WB/ADB) channeling investment into national construction activities.
📈 Senthilverl Holdings Becomes Top Shareholder in Serendib Land
• Major Acquisition: Senthilverl Holdings has acquired a significant 25.48% stake in Serendib Land PLC. • Transaction Details: The deal involved purchasing 101,643 shares from Finco Holdings Ltd. at a price of Rs. 1,500 per share. • Total Value: The transaction was valued at Rs. 152.46 million (Rs. 152.5 m) and was completed on 24 October. • Ownership Shift: The acquisition makes Senthilverl Holdings the new top shareholder in the company, taking over the position previously held by Finco Holdings (26.43% stake before the sale). • Valuation Note: The transfer price of Rs. 1,500 per share is below the company's un-audited Net Asset Value (NAV) of Rs. 1,797.83 per share reported as of 30 June. • Market Close: Serendib Land closed yesterday at Rs. 1,649.75 a share, registering a gain of Rs. 2.
📈 Advisor Recommends Rejecting Ambeon's Mandatory Offer for Myland Developments (MDL)
• HNB Investment Bank (HNBIB), acting as the independent adviser, recommended that Myland Developments PLC (MDL) shareholders REJECT the mandatory offer of Rs. 8.50 per share made by Ambeon Capital PLC. • The recommendation is based on the offer price being at a discount to most fair-value estimates: • Discounted Cash Flow (DCF) valuation yielded Rs. 9.57 per share. • Peer Price-to-Book Value (P/BV) suggested Rs. 12.74 per share. • The one-month Volume-Weighted Average Price (VWAP) was Rs. 18.86, more than double the offer. • The offer is, however, a 114% premium to the Net Asset Value (NAV) of Rs. 3.97 per share. • The mandatory offer, extended for the remaining 18.27% of MDL shares, matches the Rs. 8.50 price paid by the consortium for its initial 81.73% acquisition in September. • Under new management, MDL plans to accelerate land development & real estate projects, forecasting revenue to rise from Rs. 48.8 Mn (FY2025) to over Rs. 640 Mn by FY2029, with gross profit margins stabilizing near 32%. • MDL’s shares recently closed at Rs. 17.50.
UK Capital Metals Advances $155-235M Sri Lankan Mineral Sands Project 💎
• UK-listed Capital Metals PLC (CMET) is advancing the Taprobane Minerals Project in Sri Lanka's Eastern Province, which is ranked among the higher-grade mineral sands deposits globally. • Mineral Sands deposits include ilmenite, rutile, zircon, and garnet, vital for manufacturing and engineering industries. • Economic Impact: • Estimated Net Present Value (NPV) for the project is US$ 155-235 Million. • Expected to generate over US$ 150 Million in royalties and taxes for Sri Lanka. • Projected to create around 300 direct jobs upon commencement of production. • Local Investment: Ambeon Capital PLC invested Rs. 600 Million in May 2025 for an initial 14% stake. • Corporate Update: Capital Metals recently issued 638,029 new ordinary shares (valued at ~£ 18,254) to its financial adviser as commission related to its ongoing operations.
Overseas Realty Posts Strong 9M Results with Rs. 6.8 Bn PBT 📈
• Overseas Realty (Ceylon) PLC recorded a Group Profit Before Tax (PBT) of Rs. 6,809 million (Rs. 6.81 Bn) on a Group Revenue of Rs. 8,984 million (Rs. 8.98 Bn) for the nine months ending 30 September 2025. • The performance was supported by a net fair value gain from investment properties of Rs. 2,331 million, a substantial increase compared to Rs. 1,160 million in the previous year. • Key real estate segment performance: • World Trade Center, Colombo revenue increased by 7% YoY to Rs. 2,124 million, driven by higher occupancy and rental rates. • Havelock City's residential sales recorded revenue of Rs. 2,481 million (higher YoY). • Mireka Tower revenue saw a significant jump to Rs. 1,990 million (vs Rs. 812 Mn YoY) due to increased occupancy. • Havelock City Mall revenue rose to Rs. 1,538 million (vs Rs. 1,050 Mn YoY), also attributed to higher occupancy levels. • Financials noted a net exchange loss of Rs. 313 million, contrasting with a gain of Rs. 1,463 million in the corresponding period last year. • The group officially launched Mireka Seascape in Dodanduwa—a new luxury real estate development featuring 168 apartments and villas, targeting the premium beachfront residential and leisure markets. • Earnings Per Share (EPS) for the period stood at Rs. 5.20.
SLICGL Records Strong 9M 2025 Performance 📈
Sri Lanka Insurance General Ltd. (SLICGL) reports solid growth for the nine months ended 30 September 2025, driven by improved market conditions: • Gross Written Premium (GWP) reached Rs. 21,853 million, marking an 18% year-on-year growth. • Profit After Tax (PAT) stood at Rs. 2,614 million, reflecting a 17% YoY increase. • As a state-owned insurer, SLICGL made significant national contributions: • Invested Rs. 11.5 Bn in Government securities. • Paid Rs. 0.7 Bn in taxes. • Group strengthened the Treasury with a Rs. 1.5 Bn dividend payment (17% YoY increase). • Reaffirmed Stability: Achieved the highest rating awarded to any SL insurer: A+ (lka) National Insurer Financial Strength Rating from Fitch Ratings. • Named the No. 1 Most Valuable General Insurance Brand in Sri Lanka by Brand Finance 2025.
E.B. Creasy Announces Rs. 1.52 Bn Rights Issue 📈
E.B. Creasy & Company PLC has announced the schedule for its Rights Issue to raise Rs. 1.52 Bn. • Basis: 1 new share for every 10 shares held, priced at Rs. 60 each. This will result in the issuance of 25,354,580 shares. • Use of Proceeds: Rs. 1 Bn will be utilized to settle short-term interest-bearing borrowings. The remaining Rs. 500 Mn is earmarked for investment in subsidiary Darley Butler & Co. Ltd. • Key Dates: The Extraordinary General Meeting (EGM) is set for November 11, 2025. The Ex-Rights date is November 12, and the Record Date is November 13. The final date for acceptance and payment is December 9, 2025. • Financial Snapshot: The capital raising follows strong consolidated June 2025 quarterly earnings of Rs. 316.5 Mn, marking a 79% YoY increase. • Group-level short-term borrowings stood at Rs. 4.58 Bn at end-June 2025, while Net Asset Value per share rose to Rs. 31.12 (up from Rs. 24.82 in March 2025). • The share closed yesterday at Rs. 69.90.
SriLankan Airlines Earnings Reverses Sharply in FY 2024/25 📉
• The national carrier reported a significant earnings reversal for the year ending 31 March 2025, swinging from a Rs. 7.9 Bn profit (previous year) to a Rs. 2.73 Bn loss, a decline of ~134.6% YoY. • Total Revenue fell by 10.8% to Rs. 303 Bn. The net loss was driven by substantial costs including Rs. 31.6 Bn in net finance charges and Rs. 2.2 Bn for unscheduled engine repairs. • Sector Performance: • Passenger revenue declined 15% YoY to Rs. 234.5 Bn, primarily due to capacity limitations and the impact of Rupee appreciation. • Cargo revenue showed resilience, growing by 2% YoY, supported by dynamic pricing strategies. • Other revenues, mainly from ground handling and ancillary services provided to other carriers, grew strongly by 16% to Rs. 27.1 Bn. • Shareholder funds remain deeply negative at Rs. 379.5 Bn. • The airline has $211.57 million in outstanding International Bonds (including $175m capital). A debt restructuring plan is being negotiated with Bondholders, and the Commercial High Court has issued an enjoining order against a potential winding-up application.
📈 SLIC Life Q3 2025 Results Show Strong Growth: GWP +32%
Sri Lanka Insurance Life (SLIC Life) reported a strong performance for the nine months ending September 30, 2025, underscoring its resilience and market leadership. • Gross Written Premium (GWP) hit Rs. 23.6 Bn, marking a robust 32% Year-on-Year (YoY) increase. • New Business surged significantly by 61% to reach Rs. 5.4 Bn, reinforcing its top-tier position. • Profit Before Tax (PBT) grew 11% to Rs. 23.9 Bn. • Policyholder commitment was evident with claims and maturity settlements totaling Rs. 13.2 Bn, a 49% increase compared to the previous year, averaging Rs. 1.5 Bn monthly. • Financial stability is maintained with the largest Life Fund in the industry at Rs. 239 Bn and a total Asset Base of Rs. 264 Bn. • The company also declared a record Rs. 12.5 Bn in annual bonuses for 2024. • As a state-owned insurer, SLIC Life played a pivotal role in national contribution, paying Rs. 0.9 Bn in taxes and maintaining significant investments of Rs. 115 Bn in government securities. • The company holds the highest assigned rating among local life insurers, with Fitch Ratings affirming an 'A+(lka)' National Insurer Financial Strength (IFS) Rating and a Stable Outlook.
📈 Finco Buys 11% SDB Stake for Rs. 881.5m, Becomes Third Largest Shareholder
• Finco Holdings Ltd. has acquired a nearly 11% stake (over 17.98 million shares) in Sanasa Development Bank PLC (SDB). • The total deal value was Rs. 881.48 million, with the shares purchased from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) at Rs. 49.00 per share. • This transaction elevates Finco to the position of the third largest shareholder of SDB Bank, a key development in the financial sector. • Finco’s new stake is only behind LOLC Investment Holding (15%) and Senthilverl Holdings (12%). • SDB’s net asset value (NAV) per share was Rs. 89.80 as of end-June 2025, compared to the transaction price of Rs. 49.00.
India's RBL Bank Eyes Wealth Business After $3.05 Bn Emirates NBD Deal 📈
• Middle Eastern bank Emirates NBD is acquiring a 60% stake in India's RBL Bank for approximately US$ 3.05 Bn (₹268.53 Bn) through a preferential issue of shares. • This marks the largest cross-border acquisition in the Indian financial sector. • Post-investment, RBL Bank aims to establish a wealth management business and transition into a "large bank," according to CEO R Subramaniakumar. • RBL will become a listed subsidiary of Emirates NBD, with the merger effective from April. • The first funding installment is expected within five to seven months, while RBL's current management team will remain during the transition.
📈 DP Seals Rs. 2.57 Bn Deal for 40% of Harischandra Mills
• Prominent Sri Lankan businessman Dhammika Perera has completed the acquisition of a significant 40% stake in CSE-listed Harischandra Mills PLC, an established consumer goods and milling company. • The deal, confirmed this morning, saw Perera purchase 778,946 shares from Senthilverl Holdings (PVT) Ltd at a price of Rs. 3,300 each, valuing the transaction at approximately Rs. 2.57 billion. • This acquisition is Perera's fourth major deal in 2025, signaling continued aggressive expansion across diverse sectors. • Recent high-profile moves this year include: • September: Flagship Vallibel One PLC announced plans for a majority stake in Associated Motor Finance Company PLC (Finance). • July 8: Acquired a majority stake in East West Properties PLC (Real Estate) for Rs. 3.23 Bn.
Lanka Ashok Leyland (LAL) Sees Strong H1 2025 Growth 🚌
• Lanka Ashok Leyland PLC (JV between GoSL and Ashok Leyland Ltd.) has reported robust financial results for the first half of the financial year ending 30 September 2025. • Key Financial Figures: • Total Revenue reached Rs. 7.75 Bn. • Profit stood at Rs. 1.17 Bn. • This strong performance is credited to the company's robust partnership with the Government of Sri Lanka and local industry growth. • Strategic Focus: The company is committed to increasing local value addition through Vehicle Assembly and manufacturing, which aims to strengthen the domestic supply chain and generate employment opportunities. • Urban Transport Initiative: LAL is moving to relaunch 80 Ultra Low Floor AC buses for city operations. An attractive financial package is being structured to incentivize private operators to utilize these vehicles, supporting the government’s push to improve urban passenger transport.
🚢 Colombo Dockyard (DOCK) Moves Ahead with Rs. 13 Bn Rights Issue
• Colombo Dockyard PLC (DOCK) confirmed it will proceed with the Rights Issue (RI) after shareholder approval, aiming to raise Rs. 13 Billion. • Primary Goal: To strengthen the company's financial position and improve its working capital base, addressing severe financial constraints. • Strategic Tie-up: The RI is part of the deal to bring in India's Mazagon Ship Builders Ltd. as the controlling shareholder, following their US$ 53 Million investment agreement in June 2025. • Key Mechanic: Existing major shareholder, Onomichi Dockyard, will refrain from subscribing, allowing the resulting shares (323.37 million) to be allotted to Mazagon (subject to a Special Resolution). • RI Details: The issue will be on the basis of nine new shares for every two held, priced at Rs. 40 each.
World Elite Acquires Controlling 50.01% Stake in Gestetner 📈
• Hong Kong-based World Elite Ltd. has acquired a controlling 50.01% stake in Gestetner of Ceylon PLC through market trades. • Total Consideration: The acquisition cost Rs. 318.7 million (Rs. 318.7 Mn) for over 1.3 million ordinary shares. • Price: The shares were purchased at Rs. 239.75 per share. • Key Seller: The majority of the shares (1.2 million) were acquired from Gestetner (Eastern) Ltd. • Sector: Gestetner of Ceylon PLC operates in the office automation and document solutions sector. • Market Context: The purchase price (Rs. 239.75) is notably higher than the company's net asset per share of Rs. 212.60 reported at the end of June 2025.
Colombo Port Posts Rs. 32.2 Bn Profit YTD Aug. 2025 📈
• Key Figures: Post-tax profit for the first eight months of 2025 reached Rs. 32.2 billion. • Growth: This marks a sharp 71% rise compared to the Rs. 18.9 billion earned in the same period of 2024, significantly exceeding the projected target of Rs. 21 billion. • Drivers: The improved financial performance was primarily driven by higher operational efficiency and a 6% Year-on-Year growth in container handling. • Infrastructure: The completion of key projects, including the Eastern Terminal and the Jaya Container Terminal (JCT) expansion, along with tighter cost management, contributed to the surge. • Outlook: Earnings will be reinvested in strategic projects aimed at strengthening Colombo's position as a regional transshipment hub.
50 Years of Bairaha: Pioneering Sri Lanka's Poultry Industry 🐔
• Bairaha Farms PLC celebrates 50 years (1975-2025) of leadership, having transformed chicken from a luxury item to the nation's most accessible and affordable protein source. • Key Milestones: Founded in 1975, Bairaha was Sri Lanka’s first large-scale quality broiler chicken producer and has been recognized as one of the Best Companies in Asia Under a Billion by Forbes. It pioneered fully integrated operations, including establishing the first large-scale broiler parent breeder farm (1977) and a modern processing facility (1980). • Farmer Empowerment: A major impact was the introduction of the Contract Growing Scheme in 1985 (initially in Gampaha, Puttalam, and Kurunegala), which empowered rural farmers, created stable livelihoods, and boosted local agriculture through increased demand for feed inputs (e.g., maize). • Current Scale: The company now operates across 13 locations islandwide, supported by over 1,300 employees and hundreds of contract farmers. • Future Outlook: Management confirms the growth potential for Sri Lanka’s poultry industry remains strong in both domestic and export markets, with a commitment to maintaining trust, quality, affordability, innovation, and sustainability.
📈 Janashakthi Life secures A- Credit Rating amidst Strong Financial Growth
Lanka Rating Agency (LRA) has awarded Janashakthi Life an A- credit rating, confirming its robust governance, stability, and strong financial position in the insurance sector. • Q2 YTD 2025 Financial Performance: • Gross Written Premium (GWP): Increased 27% YoY to Rs. 3.77 Billion. • Net Profit: Surged 70% YoY to Rs. 1.32 Billion (up from Rs. 777 Million). • First-Year Premiums: Recorded significant 61% YoY growth. • Regular Long-Term Business: Rose by 32%. • Market Position & Stability: • Total Assets climbed to Rs. 40 Billion by end-June 2025. • Outpaced the industry as the fastest-growing insurer in Q1 2025 with 49% GWP growth. • Risk-based Capital Adequacy Ratio and investment yields consistently exceed industry benchmarks, highlighting strong risk management and organic capital generation. • The company aims to achieve an industry-leading expense ratio within the next 2–3 quarters, reinforcing operational efficiency.