📈 Haycarb signs $ 18.18 Mn expansion deal with BOI

Sri Lanka's premier activated carbon manufacturer, Haycarb PLC, has secured an agreement with the Board of Investment (BOI) to scale up its operations. • Expansion Investment: Haycarb will inject an additional US$ 18.18 Mn to expand its specialised manufacturing operations for Energy Storage Carbon. This pivot addresses growing high-tech global demand, strengthening Sri Lanka’s industrial export value. • Financial Performance: In FY26, the company posted strong financial results, recording a pre-tax profit of Rs. 5.52 Bn and a post-tax profit of Rs. 4.27 Bn. • Global Footprint: Alongside existing strategic manufacturing plants in Sri Lanka, Thailand, and Indonesia, the newly approved Haycarb Philippines Corporation will commission its first phase in H1 2027 to secure the coconut shell-based charcoal supply chain. • Market Reaction: Following the announcement, Haycarb's share price increased by 3% (up Rs. 4.50), closing at Rs. 148.00.