News & market updates

hSenid Business Solutions PLC reported Q1 FY2027 revenue of LKR 602.8 million (up 28% YoY) and a net profit of LKR 51.0 million, with recurring revenues at 75% and exit ARR of USD 5.7 million (up 26%). EBITDA excluding forex gains was LKR 81.4 million and management highlighted continued SaaS and AI-led growth execution.

Sampath Jayasundara has been appointed SLASSCOM Chairman for 2026/27; he currently serves as CEO of hSenid Business Solutions PLC (HBS.N0000). He will prioritise AI-ready workforce development, curriculum reform and entrepreneurship to boost Sri Lanka's knowledge and innovation exports.

Sampath Jayasundara, CEO of hSenid Business Solutions PLC, was elected Chairman of SLASSCOM for 2026/27 and will prioritise AI upskilling, entrepreneurship and product-led growth to help scale Sri Lanka's knowledge and innovation exports toward a $5bn target.

hSenid Business Solutions PLC proposed a new ESOP covering 3,618,580 ordinary shares (about 1.22% of enlarged issued share capital) to utilise unallocated shares from its 2022 plan; the scheme is subject to CSE and shareholder approval.

hSenid Business Solutions (HBS.N0000) delivered an FY2026 turnaround: revenue rose 13% to Rs.2.1bn, exit ARR reached $5.5m (up 32% YoY) and normalized EBITDA turned positive at LKR200m (10% margin), with PBT loss narrowed to Rs.8m and positive free cash flow.

Colombo Stock Exchange closed higher, with the ASPI up 1.98% to 22,364.77, as rupee stabilisation and lower interest rates boosted investor confidence. Ceylon Cold Stores and Hemas posted strong quarterly profits and John Keells declared a final dividend; Dialog, Commercial Bank and Sampath gained while hSenid and Dipped Products fell.

hSenid Business Solutions (HBS.N0000) delivered an FY2026 turnaround with revenue of LKR 2.1bn (up 13% YoY), normalized EBITDA of LKR 200m (10% margin) and exit ARR of USD 5.5m (up 32% YoY). The company generated positive free cash flow, narrowed full-year PBT loss to LKR 8m, posted Q4 PBT of LKR 7m, launched Lexi Insights AI and won a national export award.

Colombo Stock Exchange ASPI rose 1.96% (430.21 pts) to 22,359.85 on Monday, with the S&P SL20 up 1.93%. Top contributors included Dialog Axiata, John Keells, Commercial Bank and Hemas; Ceylon Cold Stores reported Q1 profit up 75% to Rs 3.76bn and LVL Energy Fund's rights issue was oversubscribed.

hSenid Business Solutions (HBS.N0000) achieved profitability in Q3 FY2026 and an exit Annualised Recurring Revenue (ARR) of $5.2m. Quarterly revenue was Rs.547.6m (+27% YoY LKR), net profit Rs.35m, normalised EBITDA margin 17% and recurring revenues were 73% of total.

hSenid Business Solutions (HBS.N0000) reported Q3 FY2026 profitability and an exit ARR of USD 5.2m, with quarterly revenue of LKR 547.6m (YoY +27% in LKR; +23% in USD constant currency). Normalized EBITDA margin was 17% with net profit of LKR 35m, recurring revenue 73% and PeoplesHR Cloud up 48% YoY.

A Sri Lankan delegation of 11 tech companies, including hSenid Business Solutions (HBS.N0000), showcased at the AsiaBerlin Summit 2025 and reported that 80% of delegates initiated new leads or partnerships. The event aimed to deepen EU market connections and promote Sri Lanka's digital export potential.

A Sri Lankan delegation of 11 tech companies, including hSenid Business Solutions, showcased at the AsiaBerlin Summit 2025 and generated commercial traction—80% of delegates initiated new leads or partnerships, with many forming multiple meaningful business connections.

Colombo bourse closed marginally down as the ASPI fell 0.09% (21.80 pts) to 23,029.86 on turnover of over Rs. 3.8bn and net foreign outflow of Rs. 4.7m. Major negative contributors included Commercial Bank, Dialog, Colombo Dockyard, DFCC and NDB, while J.F. Packaging rose on debut.

hSenid Business Solutions reported 2Q revenue up 23% YoY to Rs. 516.9m and normalised EBITDA margin rose to 11%, positioning the company near Normalised EBIT break-even. The firm posted a net loss of Rs. 25.9m (including a Rs. 25.5m one-off restructuring charge) and plans to launch PeoplesHR X with new AI features.

hSenid Business Solutions (HBS.N0000) reported Q2 FY2026 revenue of LKR 516.9 million, up 23% YoY, and a normalized EBITDA margin of 11%, positioning the company near normalized EBIT break-even. PeoplesHR Cloud grew 34% YoY and recurring revenues were 72%; net loss LKR 25.9m included a one-off LKR 25.5m restructuring charge.

hSenid Business Solutions CEO led a Sri Lanka business mission to Indonesia (Oct 14–18), securing promising links in renewable energy, digital services and startup collaboration.

The Sri Lanka–Indonesia Business Council held its 2nd AGM; Sunshine Holdings' Vish Govindasamy stepped down and Ceylon Biscuits' Shea Wickramasingha was appointed president for 2025/26. The council highlighted trade ties and upcoming Trade Expo Indonesia 2025, with committee representation from Dilmah, hSenid, Aitken Spence and Amana Bank.

hSenid Business Solutions (HBS.N0000) reported Q1 FY2026 revenue of Rs.471.7m, with recurring subscription revenue up 36% YoY and a normalised EBITDA margin of 2%. Recurring revenues were 72% of total, new deals totaled $440,998 (up 34%), and the company generated positive free cash flow despite a Rs.35.7m net loss.

hSenid Business Solutions reported Q1 FY26 revenue of LKR 471.7m, with recurring subscription revenues up 36% YoY and recurring revenues constituting 72% of total. Normalized EBITDA margin was 2% (second consecutive positive quarter); net loss was LKR 35.7m with positive free cash flow.

SLASSCOM announced its 2025/2026 Board and General Council, appointing Shehani Seneviratne (COO, 99x) as Chairperson and including executives from hSenid Business Solutions and Dialog Axiata among the leadership. The council will support SLASSCOM’s forums to drive talent, innovation, policy and sector growth.

Colombo market closed a healthy week: ASPI +2.3%, S&P SL20 +3.1%, average daily turnover Rs.9.88bn and net foreign inflow Rs.373.9m. Key contributors included Central Finance, Hayleys, John Keells, Sampath and Singer; John Keells rose to Rs.25.50 while HNB fell to Rs.358.50 and Seylan (non-voting) rose to Rs.66.30.

Shehani Seneviratne, COO of 99x Product Engineering, has been appointed Chairperson of SLASSCOM for 2025/2026 with a focus on AI readiness, high-value digital exports and inclusive growth. The SLASSCOM board includes Sampath Jayasundara of hSenid Business Solutions as Vice Chair.

CFA Society Sri Lanka held the Capital Market Awards 2025 on 24 June; Sunshine Holdings won Gold for Best Investor Relations (Mid-to-Large), hSenid Business Solutions won Best Investor Relations (Small Cap), Talawakelle Tea Estates won Silver for Best Sustainability Reporting, and Dialog Axiata and Commercial Bank shared Bronze. Capital Alliance was a Gold sponsor and Hatton National Bank served as Banking Partner.

CFA Society Sri Lanka held the 12th Capital Market Awards on 24 June, with Sunshine Holdings winning Gold for Best Investor Relations (Mid-to-Large Cap). hSenid won Gold for Best Investor Relations (Small Cap); Hemas won Silver (Mid-to-Large), Talawakelle Tea Estates won Silver for Best Sustainability Reporting, and Dialog and Commercial Bank shared Bronze for Sustainability.

hSenid Business Solutions (HBS.N0000) reported Q4 FY2025 revenue of LKR 499.8m, up 15% YoY (22% in constant currency), normalized EBITDA margin of 7% and net profit of LKR 3.2m. Growth was driven by PeoplesHR subscription and USD new deals, with AI integration planned to boost ARR in FY2026.

SLASSCOM, with Sri Lankan government leaders, showcased Sri Lanka as an IT and BPM hub at NTLF 2025 in Mumbai with a country pitch titled 'Island of Ingenuity'. The delegation included firms such as Dialog Axiata and hSenid Business Solutions to pursue cross-border collaborations with India's IT sector.

SLASSCOM will be the Country Partner at the NASSCOM Technology and Leadership Forum 2025 (Feb 24–25, Mumbai); the Sri Lankan delegation includes Dialog Axiata and hSenid Business Solutions among leading IT/BPM firms promoting Sri Lanka as a tech hub.

hSenid Business Solutions (HBS.N0000) reported Q3 FY2025 results, reaching $4.0m exit Annualised Recurring Revenue (ARR) and recurring revenue of 67% of total sales. Revenue was Rs.431.3m (+4% in USD constant currency, -5% in LKR), normalised EBITDA improved to -8% and net loss was Rs.99.7m.

hSenid Business Solutions (HBS.N0000) reported USD 4.0m exit-ARR in Q3 FY2025, led by PeoplesHR Cloud. Quarterly revenue was LKR 431.3m (up 4% in USD constant terms, down 5% in LKR), recurring revenue 67% of total, normalized EBITDA improved to -8% (from -17%), net loss LKR 99.7m (incl. LKR 13m forex loss).