News & market updates

Colombo Stock Exchange's ASPI plunged 1,290.68 points (5.44%) to 22,443.38 after trading reopened following the Middle East conflict, with the exchange briefly halting trade after the S&P SL20 fell over 5%. Major contributors included Commercial Bank (-11.5%), Hatton National Bank (-18%), Hayleys (-14.5%) and Sampath Bank (-6.75%).

Hayleys PLC’s proposed unsecured senior redeemable debentures of up to LKR7 billion were assigned a 'AAA(lka)' National Long-Term Rating by Fitch. Fitch noted subsidiary debt to consolidated EBITDA rose to 2.9x in 3QFY26, expects it to moderate to ~2.5x by FY27 and said failure could lower the debentures one notch.

Fitch assigned a 'AAA(lka)' National Long-Term Rating to Hayleys PLC's proposed unsecured senior redeemable debentures of up to LKR7 billion. Fitch noted subsidiary debt-to-consolidated-EBITDA rose to 2.9x in 3QFY26 (limit 2.5x) but expects it to moderate toward 2.5x in FY27, otherwise ratings risk.

Colombo stocks rose with the ASPI up 0.33% to 23,781.23, led by blue-chip gains from JKH, HAYL, MELS, AEL and LMF. Banking counters faced selling pressure after Q4 results while capital goods drove turnover (27%); foreigners were net buyers of Rs.194m.

Rights issue · 3:50 at Rs 200.00 · XD Mar 18, 2026

Hayleys PLC said its board has resolved to raise up to Rs. 7 billion via a listed debenture issue (50 million debentures with an option for 20 million more at Rs.100 par). Details on tenure, interest rates and other terms will be announced and the issue is subject to regulatory approvals.

Hayleys PLC's Advantis unit has formed a joint venture with Sarens to supply and operate heavy-lift cranes and engineered lifting services in Sri Lanka, with the JV's first contract the 50MW Haywind wind farm in Mannar. The partnership will invest in crane and transport assets and provide end-to-end turbine installation and logistics.

Hayleys PLC resolved to raise up to Rs. 7 billion via a listed, rated, unsecured, senior, redeemable debenture issue of up to 70 million debentures at Rs.100 each, subject to regulatory approvals. The Board approved 50 million debentures with an option for a further 20 million; tenure and interest details will be announced later.

Hayleys PLC's logistics arm Hayleys Advantis has signed a strategic joint venture with Belgium-based Sarens to provide heavy-lift crane and engineered transport services for the 50MW Haywind wind power project in Mannar, including transport and installation of turbines.

Altair has attracted flagship showrooms from global automotive brands—TATA, JAECOO and OMODA are operational while BYD, DENZA and KIA will open shortly—enhancing the development's retail profile and involving corporate groups John Keells Holdings, Hayleys and DIMO.

Hayleys Solar (Hayleys PLC) completed a 4,036 kW solar PV installation across six Pussalla Meat Producers farm locations. The multi-site project is expected to supply a substantial portion of the farms' energy needs and reduce annual carbon emissions by about 3,392,247 tonnes.

Hayleys Solar (part of Hayleys PLC) completed a 4,036 kW solar PV installation across six farm locations for Pussalla Meat Producers. The project is expected to cut carbon emissions by approximately 3,392,247 tonnes annually.

Colombo bourse dipped as the ASPI fell 0.21% to 23,870.07 despite net foreign inflows of Rs.37 million after 22 days of outflows. Capital goods led turnover; John Keells and Hayleys rose while Sampath, Colombo Dockyard, Dialog, DFCC and Commercial Bank were among the negative contributors.

Hayleys Fentons won the Gold Award in the Electronic & Electrical Products (Medium Category) at the National Chamber of Exporters 2025 Export Awards, driven by export performance of Hayleys Solar's internationally certified renewable energy systems.

Hayleys PLC held the Chairman’s Awards 2025, with Haycarb PLC winning the Overall Award for innovation in specialty activated carbon for silicon‑carbon anode materials and Hayleys Fabric PLC winning an ESG award for a smart energy‑saving stenter system that cuts fuel use and CO₂ emissions. The awards highlighted innovations across energy transition, agriculture and logistics supporting exports and sustainability.

Hayleys Mobility (Hayleys PLC) opened South Asia’s largest OMODA & JAECOO flagship showroom in Colombo 2, showcasing premium EV, PHEV and ICE models. The exclusive OJ distributor also offers charging infrastructure, guided test drives and a dedicated delivery centre.

Hayleys PLC reported consolidated Profit After Tax of Rs.14.02 billion for the nine months to 31 Mar 2026, with consolidated revenue up 16% y-o-y to Rs.421.40 billion. The board approved a Rs.9 billion rights issue, paid an interim dividend of Rs.6 per share, and Fitch reaffirmed its 'AAA (lka)' rating.

Hayleys PLC reported consolidated Profit After Tax of Rs. 14.02 bn for the nine months to 31 March 2026 while consolidated revenue rose 16% to Rs. 421.40 bn. The Board approved a Rs. 9 bn rights issue and paid an interim dividend of Rs. 6 per share; Fitch reaffirmed its 'AAA (lka)' rating.

Hayleys PLC won the Gold Award for Overall Excellence in Corporate Reporting at CA Sri Lanka’s TAGS Awards Diamond Chapter; chairman Mohan Pandithage received the award from CBSL Governor Dr. Nandalal Weerasinghe.

Hayleys PLC presented Haycarb PLC with the Overall Winner Award at the Hayleys Chairman’s Awards 2025 for its HCE 400 Series silicon‑carbon anode materials for lithium‑ion batteries. Hayleys Fabric PLC won the ESG Category Award for a smart energy‑saving system for stenter machines.

Hayleys Group held its Chairman’s Awards 2025, naming Haycarb PLC the Overall Winner for its specialty activated carbon for silicon‑carbon anodes for lithium‑ion batteries. Hayleys Fabric PLC won an ESG award for a Smart Energy Saving System (avoiding 159,600 kg CO₂e per machine annually) and group projects in coconut processing and logistics were also recognised.

Colombo market recovered as the ASPI rose 0.22% (52.82 pts) to 23,734.50, driven by high-net-worth crossings that made up 49.4% of turnover (COMB contributed Rs.3.2bn); market turnover was Rs.8.24bn and foreign investors were net sellers of Rs.1.3bn.

Sri Lanka opened its first country pavilion at Source Fashion 2026 in London with 20 Sri Lankan apparel booths (including Hayleys Free Zone) to promote UK/EU sourcing. The UK's DCTS zero-duty concessions and relaxed Rules of Origin from 1 Jan 2026 are expected to increase export opportunities for Sri Lankan apparel makers.

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).

Sri Lanka launched its first country pavilion at Source Fashion London 2026 with 20 booths to boost apparel exports and buyer links; UK’s DCTS zero-duty rules from 1 Jan 2026 are expected to improve market access for Sri Lankan apparel exporters.

Hayleys Agriculture (Hayleys PLC group) showcased modern agricultural technology and value-added products at the Jaffna International Trade Fair (23–25 Jan 2026), highlighting digitised, mechanised solutions and partnerships such as Kubota to boost on-field productivity and value addition.

Commercial Bank of Ceylon signed an MoU with Hayleys Fentons/Hayleys Mobility to promote New Energy Vehicles and offer leasing solutions via a joint campaign running until 30 November 2026. The bank will provide competitive rates, concessions and flexible repayment options while Hayleys supplies warranties, after-sales support and EV charging access.

Hayleys Mobility (part of Hayleys PLC) unveiled OJ (OMODA & JAECOO) as its exclusive distributor in Sri Lanka on 27 Jan 2026, launching a portfolio of PHEV, HEV, ICE and EV models with manufacturer-backed warranties and nationwide after-sales support. It also announced SRM commercial EVs and EV charging partnerships with StarCharge to build a nationwide charging network.

ASPI ended marginally up at 23,960.16 (+0.03%) on turnover of over Rs.5.2bn. Capital goods led turnover (31%) driven by Colombo Dockyard and John Keells, while diversified financials and banks contributed 21% and foreign investors were net sellers of Rs.128.2m.