News & market updates

Diesel & Motor Engineering (DIMO) won the Diamond Award for the most outstanding integrated report at the 11th CMA Sri Lanka Excellence in Integrated Reporting Awards 2025. Talawakelle Tea Estates shared the Gold award, Commercial Bank shared Silver, and Hayleys Fabric and L B Finance shared the Bronze awards.

The Sri Lanka Export Development Board hosted a 17–22 Nov EU inward trade delegation of 12 Fair Trade importers (including Colruyt) to promote spices, tea, coconut and other Fair Trade products, targeting an increase of about $4–6m in EU orders for 2025–26.

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.

The Central Bank of Sri Lanka reported the Manufacturing PMI rose to 61 in October (from 55.4) and the Services PMI to 66 (from 58.7), signalling accelerated expansion. Growth was led by food & beverages, wholesale and retail trade, and stronger financial services, with a positive outlook ahead of the festive season and rising tourist arrivals.

The ASPI fell 0.74% (172.02 pts) to 23,051.66 and the S&P SL20 dropped 0.52% to 6,376.54 as profit-taking pulled the market lower. Turnover exceeded Rs.4.4bn with foreign net outflow of Rs.100.6m; SFCL, HNB, RICH, DFCC and DIAL were the key negative contributors and capital goods, banking and food/beverage/tobacco led activity.

Global Synergy Awards 2026 launched by Global Synergy Tec (Pvt) Ltd; applications are open and the ceremony will be held on 21 February 2026 at Water's Edge Hotel, Battaramulla. The awards include categories covering tourism, construction, food & beverage and a CSR project with the Ministry of Education.

Daraz Sri Lanka’s 11.11 sale served 300,000 customers in the first hour. Early data show strong demand across electronics, FMCG and fashion, with 53% of buyers outside Western Province, 25% new users, 47% using wallets/cards and first delivery completed by 7 AM.

Samsung’s SmartThings AI Home platform brings integrated appliance control and AI Energy Mode (up to 70% washing-machine energy savings) and Samsung products are available in Sri Lanka through authorized dealers including Singer and Softlogic.

Sri Lanka's services PMI rose to 66.0 in October 2025 from 58.7 in September, led by wholesale and retail trade and stronger financial services. Business activity, new orders and employment expanded and expectations were supported by rising tourist arrivals and festive demand.

Astroid, a Sri Lankan athleisure label founded by Oshara Kariyakarawana, has opened its first flagship store; the brand says it will expand into casual and swimwear and grow its online and international presence.

Swadeshi Industrial Works PLC launched the second stage of its 'Swadeshi Khomba Mihithala Sathkaraya' CSR program to plant kohomba (margosa) trees in temples, beginning with a planting at Sri Sudarshanarama Purana Viharaya in Kiribathgoda.

JB Securities analysis of vehicle registry data shows several high-end cars were registered in Sri Lanka in October 2025, including 4 Bentleys, 2 Porsche Caymans, 1 Porsche Carrera, 1 Macan and 1 Lamborghini Urus. The analysis also reports 28 new and 54 used Mercedes-Benz units, 37 Audis, 15 Lexuses and 17 BMWs, and notes high-end petrol cars continue to generate tax revenue.

Asian Paints Causeway relaunched its upgraded Classique GLO interior emulsion across dealer events in Sri Lanka, featuring German polymer-based Anti-Smudge and Anti-Scuff technology and a 5-year warranty to position it as a premium, longer-lasting interior paint.

DIMO PLC director Rajeev Pandithage says DIMO’s partnership with Mercedes‑Benz Fashion Week Sri Lanka continues as the event returns 19–23 November 2025 at Cinnamon Life.

Hayleys PLC reported 1H Profit Before Tax of Rs. 13.33 billion (up 5% YoY). Consolidated revenue rose 14% to Rs. 269.53 billion for the six months (2Q revenue +13%), PAT and EBITDA improved, it acquired a substantial stake in Harischandra Mills PLC and retained a 'AAA (lka)' Fitch rating.

Colombo market recovered from early losses to finish the week essentially flat, with the ASPI down 0.01% at 23,459.75 and the S&P SL20 down 0.34% at 6,435.93. Market turnover was over Rs. 5.6 billion, foreigners were net sellers (~Rs. 5.9m), and heavy activity was led by banking, capital goods and food sectors.

Ceylon Grain Elevators posted revenue up 22% to Rs 7.3bn and net profit of Rs 936mn (EPS 15.60), driven by stronger broiler day-old chick and processed chicken sales from its Three Acre Farms unit.

Hayleys PLC reported Profit Before Tax of Rs.13.33 bn for the six months to 31 Mar 2026 (up 5% y‑o‑y) with H1 revenue rising 14% to Rs.269.53 bn. The group expanded into mobility and supermarkets and acquired a substantial stake in Harischandra Mills PLC.

United Motors Lanka PLC (UML) posted group PAT of Rs. 1.41 billion for the six months to 30 Sep 2025, reversing a Rs. 119 million loss a year earlier (1,287% increase). Group revenue rose 303% to Rs. 19.1 billion and management cited stronger vehicle sales and the Dutch Lanka Trailers acquisition as drivers.

Colombo Stock Exchange closed marginally lower: ASPI fell 0.01% to 23,459.75 and S&P SL20 fell 0.34% to 6,435.93. Top negatives included Melstacorp, Sampath Bank, Diesel & Motor Engineering and Hayleys; Dipped Products posted a Sept-quarter net profit of LKR 920m and rose, while Ceylon Tobacco said volumes fell and its stock dipped.

Bairaha Farms PLC (BFL.N0000) marks its 50th anniversary, cites domestic growth and export progress with exports to the Maldives and conditional clearance for Singapore, and reports 2024 sector figures (chicken +10% to 258,540 mt; day-old chicks +13% to ~188m). The piece also flags challenges from reliance on imported feed (maize/soy) and high import levies that affect competitiveness.

CA Sri Lanka's Budget Seminar analysed the 2026 Budget, highlighting abolition of SVAT, introduction of e-invoicing and lowering the VAT/SSCL registration threshold from Rs.60m to Rs.36m — measures that may cause cash-flow pressure for exporters. The IRD said two special export refund units will expedite refunds within 45 days and low/medium-risk taxpayers will get refunds without pre-verification.

The Indo–Lanka Handicraft and Cultural Festival 2025 was inaugurated at Havelock City Mall in Colombo by India's High Commissioner Santosh Jha and runs 13–16 November 2025, featuring around 20 Indian master artisans alongside Sri Lankan exhibitors with live demonstrations and sales.

Ceylon Tobacco Company (CTC.N0000) said volumes fell in the September 2025 quarter after higher taxes, reporting earnings of 6.98 billion rupees (36.77 rupees/share), down from 7.70 billion a year earlier. Turnover rose to 52.79 billion rupees and profit before tax improved to 13.73 billion rupees, while income tax rose to 6.8 billion rupees after cigarette taxes were raised.

United Motors Lanka PLC posted Group profit of Rs. 1.41 billion for the six months ended 30 Sep 2025, reversing a Rs. 119m loss a year earlier as Group revenue climbed 303% to Rs. 19.1 billion, driven by a rebound in vehicle sales after the lifting of the import ban.

Lanka Milk Foods (LMF) launched 'Suddhi' Fresh Milk, a new fresh milk product intended to strengthen its dairy offering and support local farmers. The launch builds on LMF's 60-year legacy and emphasizes quality, sustainability and local sourcing.

Maliban will be the Title Sponsor of the Inter Club Rugby League and Clifford Cup Knockout Championship 2025/2026, supporting domestic rugby and grassroots development across Sri Lanka.