News & market updates

Hayleys Fentons, a member of Hayleys PLC, won the 'Best One Stop Destination for Engineering Needs, Sri Lanka 2024' award at the International Business Magazine Awards in Dubai, recognising its engineering, sustainability and innovation capabilities.

Hayleys Solar completed a 6.9 MW rooftop solar PV system for Access Logistics in Negombo, the largest single-roof solar installation in Sri Lanka, featuring 11,609 panels, two smart transformers and expected to offset about 7,088 tons of CO2 annually.

Colombo Stock Exchange fell 0.9% as the ASPI dropped 0.86% to 16,927.13 amid profit-taking—especially in banks—and a net foreign outflow of Rs 380mn. DFCC reported an 80% rise in December-quarter profits and Sampath an 85% increase.

Colombo market closed lower as the ASPI fell 0.7% to 17,074 and the S&P SL20 dropped 0.8% on low turnover of Rs.3.7 billion (35.8% below the monthly average). Banks dominated turnover (30%); BUKI and SEMB were top positive contributors while COMB, HNB, HHL, JKH, CTC, SAMP and NDB were among the top decliners.

Hayleys PLC's renewable arm Hayleys Solar completed a 6.9 MW rooftop solar PV system for Access Logistics in Negombo, the largest single-roof solar installation in Sri Lanka. The system uses 11,609 panels, 20 inverters and two smart transformers and is expected to offset about 7,088 tonnes of CO₂ annually.

Colombo Stock Exchange closed down 0.70% to ASPI 17,074.02 on turnover Rs3.6bn, with a net foreign inflow of Rs307mn. Top turnover and movers included Dialog, Commercial Bank, Hemas, HNB and John Keells; LB Finance announced a Rs2.25 interim dividend.

Hayleys Solar (Hayleys Fentons) has secured exclusive distribution rights for Bluetti portable power stations in Sri Lanka, offering 300W, 1000W and 2400W models. The units will be available islandwide via Hayleys Fentons online store and Hayleys Solar experience centres.

Colombo Stock Exchange rose after the Budget, with the ASPI up 1.3% and net foreign inflows of Rs. 777.4 million. Banking, insurance and diversified financials led the session, with Ceylinco, Melstacorp, NDB and Sampath among the top contributors.

Dipped Products PLC won Innovative Export Product of the Year for its Magneto glove and Best Exporter in the Latex Rubber Product Category at the 26th Presidential Export Awards. The Magneto glove can detect 5mm x 5mm fragments, holds US and Sri Lanka patents, and DPL is a subsidiary of Hayleys PLC.

ASPI closed up 1.30% (219.36 pts) at 17,156.05, nearing its all-time high amid the 2025 budget presentation. Net foreign inflow of LKR 777m (highest in 2025) drove buying in Ceylinco Holdings, Browns Investments and activity in NDB, Sampath, Hayleys, Sierra Cables and Jetwing Symphony.

Hayleys PLC reported a 108% rise in profit to Rs 4.4 bn in the December 2024 quarter, with EPS of Rs 5.87. The group noted nine-month EPS of Rs 10.10, Rs 294 bn in short-term investments, a Dipped Products acquisition in Thailand for Rs 1.58 bn and a 50 MW Mannar wind award.

Vallibel One appointed Jonathan Alles as an Independent Non-Executive Director. Alles is the former MD/CEO of Hatton National Bank with over 37 years' banking experience and was recently also appointed to the boards of United Motors, Ceylon Beverage, Lion Brewery and Hayleys.

Colombo market closed the week higher as ASPI and S&P SL20 rose about 2% (ASPI 16,937, +358 pts) with turnover Rs.5 billion, led by banks, capital goods and food & beverage stocks ahead of the 2025 Budget.

Hatton National Bank (HNB) partnered with Sri Lanka Agripreneurs’ Forum to run a chilli cultivation workshop in Rajanganaya attended by ~65 farmers, with Hayleys Agriculture Holdings presenting on advanced cultivation and pest management. The event also included HNB sessions on farmers' financial security.

Sri Lanka's ASPI closed up 2.18% (362.03 pts) at 16,940.25, led by gains in diversified counters and bank stocks; the S&P SL20 rose 1.88% to 5,037.52, turnover was 4.8 billion rupees and net foreign outflow was 513 million rupees.

Hayleys PLC reported a 53% y-o-y increase in Profit Before Tax to Rs.22.52 bn in the first nine months of FY2025. Consolidated Profit After Tax rose 94% to Rs.13.88 bn on 12% revenue growth to Rs.363.54 bn, aided by lower finance costs, higher export earnings and efficiency gains.

Sri Lanka's ASPI closed up 1.42% at 16,578.22, led by banks and finance stocks, with a net foreign outflow of 892 million rupees. Top contributors included Ceylinco (+9.3%), Central Finance (+6.0%), Sampath (+2.1%) and NDB (+2.4%), while Ambeon saw heavy foreign selling.

Hayleys Fabric PLC secured SBTi validation for its net‑zero targets, pledging 42% cuts in Scope 1–2 and 25% in Scope 3 by 2030 and net‑zero by 2050. The validation covers Hayleys Fabric Group (including its subsidiary) and highlights investments in renewables, efficiency and digitalisation.

Dipped Products' net profit rose 43% to 1.01 billion rupees in the December 2024 quarter, aided by higher other income and a reduction in tax expenses. The Hayleys group unit's pre-tax profit was marginally up, and Dipped Products acquired Hi Care Thai Gloves in Thailand for $11m to expand internationally.

Sri Lanka stocks fell, with the ASPI down 1.01% to 16,566.27 as investors awaited next week's government budget; turnover was low at Rs 2.07 billion and net foreign outflows totalled Rs 35.5 million, with financials and capital goods weighing on the market.

Hayleys Fentons was awarded the contract to develop a 50 MW wind power facility in Mannar at 4.65 US cents/kWh, a rate the Cabinet says saves over Rs.3 billion versus a previously considered 4.88 US cents/kWh bid.

Hayleys Fentons has been awarded a 50 MW wind power contract in Mannar at 4.65 US cents/kWh after Cabinet approval following a Procurement Appeal Board decision. The awarded rate is reported to save over LKR 3 billion versus the previously considered 4.88 US cents/kWh bid.

Hayleys Solar, the renewables arm of Hayleys Fentons Ltd., completed Sri Lanka’s first Solar Roadshow from 16–23 Jan in the Southern region and offered attendees a prize draw for a 5kW system. The team will run roadshows in Eastern and Uva Provinces from 13–18 Feb.

Hayleys Solar (renewable arm of Hayleys Fentons / Hayleys PLC) completed Sri Lanka’s first Solar Roadshow from 16–23 Jan 2025 in the Southern region, showcasing solar products and running a prize draw for a 5kW system. The team will visit Eastern and Uva Provinces 13–18 Feb 2025.

Hayleys Fentons (part of Hayleys PLC) signed an exclusive distribution agreement with Hira Industries to bring Aerosafe Fire and Smoke Curtains to Sri Lanka, expanding the group's fire safety product offerings for residential and commercial spaces.

Sri Lanka stocks fell 0.97% as the ASPI closed down 166.24 points at 16,956 and turnover was Rs3bn, the lowest so far this year. John Keells, Browns Investments and Tea Smallholder Factories announced interim dividends and net foreign outflow was Rs179mn with foreign selling in several large stocks.

Hayleys Fentons has been awarded the 50 MW Mannar wind power plant at 4.65 US cents per unit. Windforce Plc's earlier lowest bid of 4.88 cents was excluded on technical grounds after an appeal board process.

Hayleys Fentons signed an exclusive distribution agreement with Hira Industries to bring Aerosafe fire and smoke curtains to Sri Lanka, introducing passive fire- and smoke-control solutions for residential and commercial buildings.

Colombo market turned bearish as the ASPI slipped 2 points to 17,115 on turnover of Rs.7.34bn and a net foreign outflow of Rs.2.2bn led by JKH; capital goods led turnover while NDB, COOP, AEL and Sierra Cables rose and Browns, Royal Ceramics, Melstacorp, LOLC and Hayleys lagged.

Alumex PLC unveiled the 'Capral Aluminium Urban Range' and secured exclusive rights to manufacture and market Capral’s aluminium products in Sri Lanka. The partnership includes technology transfer and training to boost local fabrication quality, reduce import reliance and target the construction and design market.