📈 Teejay Group Navigates Textile Demand Slump with Balance Sheet Resilience

The apparel & textiles giant Teejay Group reported its full-year financial performance, reflecting severe global headwinds alongside a resilient financial position based on provisional data as of 31 March 2026. • Overall Figures: • Group Revenue reached LKR 60.04 Bn, a 10% YoY decline. • Gross Profit fell 36% YoY to LKR 5.02 Bn. • Profit After Tax (PAT) dropped 98% YoY to LKR 54.7 Mn, heavily impacted by higher rupee costs, right-sizing restructuring costs, and provisions for doubtful debts. • Market and Sector Pressures: • Topline growth was weighed down by continued softness in global textile demand, reciprocal tariffs imposed by the US, and intense pricing pressures. • Margins were squeezed by underutilization of plant capacity, lower production volumes, and an unfavorable product mix. • Financial Position & Resilience: • Despite a steep drop in earnings, the balance sheet remains strong through disciplined working capital management. • Cash and cash equivalents stood at LKR 8.3 Bn. • Net asset base increased by 3% YoY to LKR 32.4 Bn. • Net Asset Value (NAV) per share improved from LKR 43.70 to LKR 44.91, reinforcing shareholder value protection.