Reported Earnings • Jun 02
Full year 2026 earnings released: EPS: LK₨3.50 (vs LK₨2.65 in FY 2025) Full year 2026 results: EPS: LK₨3.50 (up from LK₨2.65 in FY 2025). Revenue: LK₨1.70b (up 17% from FY 2025). Net income: LK₨221.1m (up 32% from FY 2025). Profit margin: 13% (up from 12% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. New Risk • Mar 20
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: LK₨1.6b (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨2.60b market cap, or US$8.34m). Minor Risks Profit margins are more than 30% lower than last year (13% net profit margin). Revenue is less than US$5m (LK₨1.6b revenue, or US$5.0m). New Risk • Mar 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: LK₨2.96b (US$9.55m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨2.96b market cap, or US$9.55m). Minor Risk Profit margins are more than 30% lower than last year (13% net profit margin). New Risk • Nov 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 13% Last year net profit margin: 25% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (13% net profit margin). Market cap is less than US$100m (LK₨4.24b market cap, or US$13.8m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: LK₨0.14 (vs LK₨1.33 in 2Q 2025) Second quarter 2026 results: EPS: LK₨0.14 (down from LK₨1.33 in 2Q 2025). Revenue: LK₨370.1m (up 13% from 2Q 2025). Net income: LK₨8.61m (down 90% from 2Q 2025). Profit margin: 2.3% (down from 26% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Announcement • Aug 29
Dolphin Hotels PLC, Annual General Meeting, Sep 24, 2025 Dolphin Hotels PLC, Annual General Meeting, Sep 24, 2025, at 11:30 Sri Lanka Standard Time. Reported Earnings • Aug 22
First quarter 2026 earnings released: EPS: LK₨1.97 (vs LK₨0.28 in 1Q 2025) First quarter 2026 results: EPS: LK₨1.97 (up from LK₨0.28 in 1Q 2025). Revenue: LK₨330.6m (up 26% from 1Q 2025). Net income: LK₨124.6m (up LK₨107.1m from 1Q 2025). Profit margin: 38% (up from 6.7% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Aug 20
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to LK₨61.10, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 24x in the Hospitality industry in Sri Lanka. Total returns to shareholders of 142% over the past three years. Reported Earnings • Jun 02
Full year 2025 earnings released: EPS: LK₨2.65 (vs LK₨5.06 in FY 2024) Full year 2025 results: EPS: LK₨2.65 (down from LK₨5.06 in FY 2024). Revenue: LK₨1.45b (up 10% from FY 2024). Net income: LK₨167.4m (down 48% from FY 2024). Profit margin: 12% (down from 24% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. New Risk • Apr 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨2.88b market cap, or US$9.63m). Minor Risk Share price has been volatile over the past 3 months (6.3% average weekly change). New Risk • Mar 04
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: LK₨2.93b (US$9.92m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 17
Third quarter 2025 earnings released: EPS: LK₨0.74 (vs LK₨1.33 in 3Q 2024) Third quarter 2025 results: EPS: LK₨0.74 (down from LK₨1.33 in 3Q 2024). Revenue: LK₨394.7m (up 2.1% from 3Q 2024). Net income: LK₨46.9m (down 44% from 3Q 2024). Profit margin: 12% (down from 22% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 114% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨48.00, the stock trades at a trailing P/E ratio of 8.3x. Average forward P/E is 19x in the Hospitality industry in Sri Lanka. Total returns to shareholders of 77% over the past three years. Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: LK₨1.33 (vs LK₨0.35 in 2Q 2024) Second quarter 2025 results: EPS: LK₨1.33 (up from LK₨0.35 in 2Q 2024). Revenue: LK₨326.4m (up 52% from 2Q 2024). Net income: LK₨83.8m (up 275% from 2Q 2024). Profit margin: 26% (up from 10% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 34% growth forecast for the Hospitality industry in Sri Lanka. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Sep 28
Dolphin Hotels PLC, Annual General Meeting, Sep 27, 2024 Dolphin Hotels PLC, Annual General Meeting, Sep 27, 2024, at 11:30 Sri Lanka Standard Time. New Risk • Aug 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 4.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨1.92b market cap, or US$6.42m). Minor Risks Share price has been volatile over the past 3 months (4.4% average weekly change). Revenue is less than US$5m (LK₨1.4b revenue, or US$4.6m). Reported Earnings • Aug 16
First quarter 2025 earnings released: EPS: LK₨0.28 (vs LK₨0.50 in 1Q 2024) First quarter 2025 results: EPS: LK₨0.28 (down from LK₨0.50 in 1Q 2024). Revenue: LK₨263.0m (up 40% from 1Q 2024). Net income: LK₨17.6m (down 45% from 1Q 2024). Profit margin: 6.7% (down from 17% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 30% growth forecast for the Hospitality industry in Sri Lanka. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. New Risk • Jun 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 4.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 11% per year over the past 5 years. High level of non-cash earnings (22% accrual ratio). Market cap is less than US$10m (LK₨2.41b market cap, or US$7.93m). Minor Risks Share price has been volatile over the past 3 months (4.9% average weekly change). Revenue is less than US$5m (LK₨1.3b revenue, or US$4.3m). Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: LK₨5.06 (vs LK₨1.63 loss in FY 2023) Full year 2024 results: EPS: LK₨5.06 (up from LK₨1.63 loss in FY 2023). Revenue: LK₨1.31b (up 128% from FY 2023). Net income: LK₨320.0m (up LK₨423.0m from FY 2023). Profit margin: 24% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 26% growth forecast for the Hospitality industry in Sri Lanka. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Non-Independent Non-Executive Director Kalsha Amarasinghe was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: LK₨1.33 (vs LK₨0.31 in 3Q 2023) Third quarter 2024 results: EPS: LK₨1.33 (up from LK₨0.31 in 3Q 2023). Revenue: LK₨386.4m (up 175% from 3Q 2023). Net income: LK₨83.9m (up 329% from 3Q 2023). Profit margin: 22% (up from 14% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 26% growth forecast for the Hospitality industry in Sri Lanka. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 17
Second quarter 2024 earnings released: EPS: LK₨0.98 (vs LK₨2.06 loss in 2Q 2023) Second quarter 2024 results: EPS: LK₨0.98 (up from LK₨2.06 loss in 2Q 2023). Revenue: LK₨215.4m (up 100% from 2Q 2023). Net income: LK₨22.3m (up LK₨102.3m from 2Q 2023). Profit margin: 10% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 32% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Hospitality industry in Sri Lanka. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. New Risk • Nov 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 72% per year over the past 5 years. Market cap is less than US$10m (LK₨2.05b market cap, or US$6.25m). Minor Risks Share price has been volatile over the past 3 months (6.5% average weekly change). Revenue is less than US$5m (LK₨638m revenue, or US$1.9m). Announcement • Sep 02
Dolphin Hotels PLC, Annual General Meeting, Sep 25, 2023 Dolphin Hotels PLC, Annual General Meeting, Sep 25, 2023, at 11:45 Sri Lanka Standard Time. Location: LOLC Board Room, 100/1 Sri Jayawardenapura Mawatha Rajagiriya Sri Lanka Agenda: To receive the Report of the Directors and Statement of Accounts for the year ended 31 March, 2023 with the Report of the Auditors thereon; to re-elect as a Director Mr. D S K Amarasekera who retires by rotation in terms of Article 86 of the Articles of Association of the Company; to re-elect as a Director Mrs. K U Amarasinghe who retires by rotation in terms of Article 86 of the Articles of Association of the Company; to re-elect as a Director Dr. J M Swaminathan who retires in terms of Section 210; to appoint as Auditors M/s PricewaterhouseCoopers, Chartered Accountants for the ensuing year at a remuneration to be agreed by the Directors; to approve in terms of the Companies Act No. 26 of 1951 (Donations), the making of donations by the Directors as determined by them for the current financial year and until the next Annual General meeting of the Company. Reported Earnings • Aug 17
First quarter 2024 earnings released: EPS: LK₨0.73 (vs LK₨0.027 in 1Q 2023) First quarter 2024 results: EPS: LK₨0.73 (up from LK₨0.027 in 1Q 2023). Revenue: LK₨187.6m (up 50% from 1Q 2023). Net income: LK₨31.9m (up LK₨31.0m from 1Q 2023). Profit margin: 17% (up from 0.7% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 36% growth forecast for the Hospitality industry in Sri Lanka. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
Full year 2023 earnings released: LK₨2.02 loss per share (vs LK₨0.79 loss in FY 2022) Full year 2023 results: LK₨2.02 loss per share (further deteriorated from LK₨0.79 loss in FY 2022). Revenue: LK₨575.9m (up 103% from FY 2022). Net loss: LK₨103.0m (loss widened 315% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 17
Third quarter 2023 earnings released Third quarter 2023 results: EPS: LK₨0.31. Revenue: LK₨140.3m (up LK₨138.4m from 3Q 2022). Net income: LK₨19.5m (up LK₨82.8m from 3Q 2022). Profit margin: 14% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 20
Second quarter 2023 earnings released: LK₨2.06 loss per share (vs LK₨0.59 loss in 2Q 2022) Second quarter 2023 results: LK₨2.06 loss per share (further deteriorated from LK₨0.59 loss in 2Q 2022). Net loss: LK₨79.9m (loss widened 329% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Independent Director Bodahandi Sarada De Silva is the most experienced director on the board, commencing their role in 1990. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 01
Dolphin Hotels PLC, Annual General Meeting, Sep 29, 2022 Dolphin Hotels PLC, Annual General Meeting, Sep 29, 2022, at 13:00 Sri Lanka Standard Time. Location: 100/1, Sri Jayawardenapura Mawatha, Rajagiriya Rajagiriya Sri Lanka Agenda: To receive the report of the directors and statement of accounts for the year ended 31 March, 2022 with the report of the auditors thereon; to appoint as auditors PricewaterhouseCoopers, Chartered Accountants for the ensuing year at a remuneration to be agreed by the Directors; to authorize the Board of Directors to determine donations; to elect Directors; and to consider other matters if any. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: LK₨0.03 (vs LK₨0.17 in 1Q 2022) First quarter 2023 results: EPS: LK₨0.03 (down from LK₨0.17 in 1Q 2022). Net income: LK₨862.0k (down 84% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 05
Full year 2022 earnings released: LK₨0.79 loss per share (vs LK₨1.05 loss in FY 2021) Full year 2022 results: LK₨0.79 loss per share (up from LK₨1.05 loss in FY 2021). Net loss: LK₨24.8m (loss narrowed 25% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Non-Executive Director Kalsha Amarasinghe was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: LK₨2.00 loss per share (down from LK₨0.001 profit in 3Q 2021). Revenue: LK₨1.98m (down 98% from 3Q 2021). Net loss: LK₨63.2m (down LK₨63.2m from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 111 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 17
Second quarter 2022 earnings released: LK₨0.59 loss per share (vs LK₨0.38 profit in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2022 results: Revenue: LK₨83.8m (down 20% from 2Q 2021). Net loss: LK₨18.6m (down 253% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 22% share price gain to LK₨34.20, the stock trades at a trailing P/E ratio of 43.1x. Average trailing P/E is 30x in the Hospitality industry in Asia. Total returns to shareholders of 35% over the past three years. Reported Earnings • Aug 19
First quarter 2022 earnings released: EPS LK₨0.17 (vs LK₨1.67 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: LK₨110.7m (up 183% from 1Q 2021). Net income: LK₨5.42m (up LK₨58.3m from 1Q 2021). Profit margin: 4.9% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Executive Departure • Feb 17
Non-Executive Chairman Abbasally Esufally has left the company On the 11th of February, Abbasally Esufally's tenure in the role of Non-Executive Chairman ended. As of December 2020, Abbasally personally held 450.01k shares (LK₨12m worth at the time). A total of 3 executives have left over the last 12 months. Announcement • Feb 13
Dolphin Hotels PLC Announces Board Changes Dolphin Hotels PLC announced changes made to the board of the company with effect from February 11, 2021. Mr. Abbasally Nuruddin Esufally resigned as Non-Independent Non-Executive Director, with effect from February 11, 2021 and appointed Mr. Waduthanthri Darshan Kapila Jayawardena, Ms. Kalsha Upekha Amarasinghe, Mr. Don Soshan Kamantha Amarasekera and Dr. Jayanta Mootatamby Swaminathan as Non-Independent Non-Executive Directors with effect from February 11, 2021. Is New 90 Day High Low • Feb 11
New 90-day low: LK₨23.00 The company is down 10.0% from its price of LK₨25.50 on 12 November 2020. The Sri Lankan market is up 28% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 12% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: LK₨30.00 The company is up 31% from its price of LK₨22.90 on 08 September 2020. The Sri Lankan market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 23% over the same period. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 18% share price gain to LK₨28.50, the stock is trading at a trailing P/E ratio of 34.5x, up from the previous P/E ratio of 29.1x. This compares to an average P/E of 48x in the Hospitality industry in Sri Lanka. Total returns to shareholders over the past three years are 3.1%. Valuation Update With 7 Day Price Move • Nov 10
Market bids up stock over the past week After last week's 21% share price gain to LK₨26.00, the stock is trading at a trailing P/E ratio of 31.4x, up from the previous P/E ratio of 26x. This compares to an average P/E of 29x in the Hospitality industry in Sri Lanka. Total return to shareholders over the past three years is a loss of 2.2%. Valuation Update With 7 Day Price Move • Nov 04
Market bids up stock over the past week After last week's 16% share price gain to LK₨22.30, the stock is trading at a trailing P/E ratio of 27x, up from the previous P/E ratio of 23.2x. This compares to an average P/E of 26x in the Hospitality industry in Sri Lanka. Total return to shareholders over the past three years is a loss of 19%. Is New 90 Day High Low • Sep 23
New 90-day high: LK₨28.50 The company is up 82% from its price of LK₨15.70 on 25 June 2020. The Sri Lankan market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 8.0% over the same period. 
