News & market updates

Harischandra Mills PLC reported 1QFY27 PAT of LKR 91.8m, up 147% y/y, on revenue of LKR 1.9bn (up 31%) and expanded gross margin to 18%. Management attributed the result to easing raw material costs, volume growth and operational efficiencies; Food segment revenue rose 22% and segment operating profit was LKR 83.2m.

Harischandra Mills PLC reported 1QFY27 PAT of Rs.91.8 million, up 147% YoY. Revenue rose 31% to Rs.1.9 billion and gross margin expanded to 18%, driven by easing raw material costs, volume growth and operational efficiencies led by the Food segment.

Dividend · Rs 73.00 · XD Sep 23, 2026

Final dividend of LKR 73/share; XD 2026-09-23; record 2026-09-24; payable 2026-10-12; FY Ended 31st March 2026

ASPI fell 0.29% to 21,145.73 while the S&P SL20 rose 0.03% to 5,945.01; turnover exceeded Rs.3.2bn with foreign net inflow of Rs.79.8mn and a Rs.2.3bn crossing in Cargills driving volume. Negative contributors included CINS, COMB, RICH, CARS and HARI; Melstacorp, NTB and HNB were also active.

Colombo Stock Exchange ASPI fell 0.22% (47.45 pts) to 21,160.65 with turnover Rs 3.28bn, led by food & staples retailing and large crossings dominated by Cargills. Dialog, John Keells, Aitken Spence and Lanka Ashok Leyland were top gainers while Ceylinco Insurance, Harischandra Mills and HNB were top losers.

Ambeon Capital PLC reported consolidated PAT of LKR 3,242 million for FY2025/26, up 104% YoY. Group revenue was LKR 19 billion (+12%), with strategic moves including increased stakes in DFCC (9.91%) and Seylan (9.93%), a 13.33% holding in Ceylon Hotels and a planned controlling stake in Harischandra Mills.

Ambeon Capital's subsidiary Ambeon Essentials closed its mandatory offer for Harischandra Mills with acceptances representing a 51.11% controlling stake at Rs.3,400 per share. The controlling stake was valued at ~Rs.3.34 billion (total equity ~Rs.6.5 billion); Hayleys was the top shareholder with 40.58%.

Harischandra Mills PLC appointed four new directors, effective 12 May 2026, following Ambeon Capital PLC’s acquisition of a controlling stake via its subsidiary Ambeon Essentials. Appointments are Sujeewa Mudalige, Dr. Sajeeva Narangoda, Savanth Sebastian and Aravinda de Silva (representing Ambeon Essentials).

Ambeon Essentials (a subsidiary of Ambeon Capital PLC) has appointed Dr. Sajeeva Narangoda, Aravinda de Silva, Savanth Sebastian and Sujeewa Mudalige to the Board of Harischandra Mills PLC with effect from 12 May.

Colombo Stock Exchange was slightly higher midday Thursday — ASPI +0.04% (22,930) and S&P SL20 +0.11% (6,276). Top gainers included John Keells, Alumex, RIL Property and Lion Brewery while Sampath, Vallibel One, Hayleys and Malwatte fell; NDB reported a High Court order in a derivative action and Harischandra appointed four board members.

ASPI rose 0.65% (145.47 pts) to 22,695.00 while the S&P SL20 gained 0.6% to 6,244.64. Market turnover exceeded Rs. 4.8bn with Ceylon Tobacco Company dominating turnover (Rs. 2.4bn) even as foreign investors were net sellers, extending YTD foreign outflows to Rs. 27.6bn.

Ambeon Capital (via subsidiary Ambeon Essentials) launched a voluntary offer to buy all Harischandra Mills shares at Rs.3,400 per share (equity value ~Rs.6.5bn); the SPA covers 51.11% (981,118 shares) at Rs.3.34bn and the offer will convert to a mandatory offer on acceptance.

Ambeon Essentials (a subsidiary of Ambeon Capital) made a voluntary offer to buy 1,919,600 ordinary voting shares of Harischandra Mills at Rs 3,400 per share. Hayleys previously offered Rs 3,300 after acquiring a 40.58% stake, and Harischandra was trading at Rs 4,810.25.

The Colombo market ended lower with the ASPI down 0.37% (88.58 pts) to 23,812.31 amid profit-taking, elevated turnover and net foreign outflows (week net outflow > Rs.2.36bn); daily turnover was about Rs.9.2bn and foreign investors were net sellers (Rs.1.7bn yesterday).

Ambeon Capital's subsidiary Ambeon Essentials signed an agreement to acquire a 51.11% controlling stake in Harischandra Mills (price undisclosed). Harischandra shares jumped Rs.1,396 (25%) to Rs.6,982 after the announcement.

The Colombo market hit an intraday record of 24,052.06 but closed flat, with the ASPI down 0.01% at 23,953.09 and the S&P SL20 up 0.20% at 6,663.12. Turnover was over Rs.5.4bn; York jumped 24.81% while SAMP, RICH, DFCC, CTHR and CARG were top negative contributors.

Ambeon Capital PLC (via subsidiary Ambeon Essentials) signed an SSPA to acquire 981,118 shares (about 51.11%) of Harischandra Mills PLC and will make a voluntary offer for the remaining shares; the deal is subject to regulatory approvals.