News & market updates

JAT Holdings PLC held a prize award ceremony on 16 May 2025 to conclude its JATPOT 2024 promotion, distributing a total of Rs.17 million in prizes (over Rs.15 million in cash) to customers and retail partners. The campaign awarded multiple cash prizes including three Rs.1 million grand prizes and rewarded retailers to boost brand visibility and customer loyalty.

JAT Holdings PLC reported FY2024/25 net profit of LKR 1,782 million, a 74% YoY increase, with revenue of LKR 11.6 billion and gross margin up to 34%. Profitability rose from backward integration and cost efficiencies despite a 26% decline in Bangladesh export revenue.

The Colombo market paused its upward run as the ASPI fell 0.37% and the S&P SL20 dropped 0.5%, while foreigners recorded a net inflow of Rs.170 million. Turnover was Rs.1.5 billion with top contributors John Keells, Commercial Bank and Hayleys and the banking sector leading activity.

The CSE opened May on a mixed note as turnover hit a new high of Rs. 6 billion while the ASPI rose 52 points to 15,852; crossings in CT Holdings and Cargills dominated activity, together accounting for the bulk of turnover. Banking and food retail stocks, including Pan Asia Banking and Lankem, were also among top contributors.

JAT Holdings relaunched its JAT Loyalty Program on 3 Dec 2024, adding an industry-first insurance scheme for painters and their families and enabling conversion of loyalty points to cash via a Commercial Bank debit card.

JAT Holdings relaunched its JAT Loyalty Program on 3 Dec 2024, adding tiered Gold/Silver/Bronze rewards, insurance coverage for painters and their families, and conversion of loyalty points to cash via an exclusive Commercial Bank debit card. The program also includes education grants and school resources.

The SEC and Colombo Stock Exchange, in collaboration with the Sri Lanka–USA Business Council, hosted a forum titled “Leveraging Diverse Capital Solutions” in Colombo to promote listings and capital-market financing, drawing about 80 entrepreneurs and industry professionals.

JAT Holdings PLC reported YTD PAT of Rs.1,002 million for the first nine months, a 74% YoY increase, crossing the Rs.1 billion mark. Q3 PAT was Rs.490 million and gross profit margin rose to 34% (up 5% YoY), driven by vertical integration and cost efficiencies from new plants.

JAT Holdings PLC reported YTD Profit After Tax of Rs. 1,002 million for the nine months to Dec 31, 2024, a 74% YoY increase, crossing the Rs. 1 billion mark. Local revenue rose 10% YTD, Q3 sales grew vs Q2 (30%), and margins improved (YTD gross margin 34%, operational margin up to 18%) driven by vertical integration and new plants.

ACCA Sustainability Reporting Awards 2024 named Hayleys PLC overall winner and Commercial Bank of Ceylon PLC overall runner-up. Listed firms recognised in sector categories included Talawakelle Tea Estates, Horana Plantations, Ceylon Cold Stores, Commercial Bank, Sampath Bank, Citizens Development Business Finance, Resus Energy, Hayleys Fabric, Haycarb, Diesel & Motor Engineering, JAT Holdings and Aitken Spence Hotels.

JAT Holdings reported net profit up 81% to 489.5 million rupees in the December 2024 quarter. Group revenues rose 1% to 3,044 million rupees as cost of sales fell 14%; Bangladesh sales fell 28% and a new Horana binder plant opened to pursue exports.

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.

Dividend · Rs 0.60 · XD Feb 3, 2025

First Interim dividend of LKR 0.6/share; XD 2025-02-03; record 2025-02-04; payable 2025-02-24; FY 2024/2025

Fitch recalibrated Sri Lanka’s national rating scale, upgrading seven non-financial corporates (including Sri Lanka Telecom to AA-(lka), Windforce to A+(lka) and Resus Energy to A-(lka)) and revising Bogawantalawa Tea Estates to BBB+(lka).

Colombo bourse ended the week higher (ASPI +2.1% for the week; ASPI +0.26 yesterday, S&P SL20 +0.28) with turnover yesterday at Rs.5.4bn and a net foreign outflow of Rs.221.5m. Banking and capital-goods/construction stocks led turnover, with top contributors including Dialog, DFCC, Dipped Products, Hemas and Commercial Bank.

ASPI closed up 0.26% at 16,257.31 as the Colombo bourse ended higher despite a net foreign outflow of 221 million rupees. Banks and consumer names drew interest; top foreign selling hit John Keells while DFCC, Dipped Products, Hemas and Commercial Bank were among top contributors.

Colombo Stock Exchange closed higher as the ASPI rose 1.07% to 14,810 and turnover hit Rs9.23bn, the highest since Feb 7. Top contributors included Central Finance, Ceylon Cold Stores, Melstacorp, Access Engineering and Chevron Lubricants; net foreign outflow was Rs226m.

JAT Holdings PLC concluded the second phase of its JAT Pintharu Abhiman workshops (29 Aug–6 Nov 2024), expanding the programme to train over 1,500 woodcraftsmen and fast-track NVQ certification for more than 500 graduates. Workshops ran across eight districts, included skills competitions and a women-focused initiative.

JAT Holdings PLC opened the JAT Lifestyle Studio at No. 28, De Vos Avenue, Colombo 04 on 29 November 2024 and announced it has been appointed the authorised dealer for MillerKnoll in Sri Lanka.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

JAT Holdings PLC posted PAT of Rs. 512 million for the six months ended 30 Sep 2024, a 67% rise, while Group revenue fell 7% to Rs. 4,536m driven by a 33% drop in Bangladesh; Sri Lanka revenue rose 8% and new binder/alkyd plants improved margins and cost efficiency.

JAT Holdings PLC posted a 67% rise in PAT to Rs. 512m for the six months ended 30 Sep 2024; group revenue fell 7% to Rs. 4,536m driven by a 33% slump in Bangladesh. Sri Lanka revenue rose 8% to Rs. 3,287m and gross margin improved 2% after commissioning binder and alkyd plants.

Affinity won the Gold Award for Best Digital Campaign at Dragons of Asia 2024 for Sunquick's Virtual Nade Gura AR campaign. The agency also won a Black Dragon for JAT Holdings' '8 Years of Whiteness' CGI campaign and placed Top 3 in Dragons of Sri Lanka.

Colombo Stock Exchange closed lower, with the All Share Index down 0.33% to 10,801 and the S&P SL20 down 0.32% to 3,035 on turnover of 1.4 billion. Top turnover names included Hemas, John Keells and Commercial Bank, there was net foreign inflow of 11.39 million amid continued selling pressure.

Colombo Stock Exchange closed higher: All Share Index +1.54% and S&P SL20 +1.84% with turnover LKR 1.4bn and net foreign outflow of 68.23mn. Market saw accumulation in banking shares and conglomerates, with top turnover in HNB, Commercial Bank and Ceylon Hospitals; mixed foreign flows across CIC, Tess Agro, JAT, Lanka IOC, hSenid and Softlogic.

JAT Holdings PLC posted PAT of Rs. 124 million for Q1 FY25, up 77% YoY, with revenues rising 3% to Rs. 2.2 billion. Growth was driven by wood coatings and paint brushes, efficiencies from in‑house acrylic binder and alkyd resin plants, and initial exports/showrooms overseas.

JAT Holdings PLC reported Q1 PAT up 77% YoY to Rs.124 million on revenues rising 3% to Rs.2.2 billion. Growth was driven by 15% in wood coatings and 47% in paint brushes, aided by new acrylic binder/alkyd resin plants coming online and inaugural wood-coatings exports to Australia.