Announcement • Jun 12
Asia Asset Finance PLC has filed a Follow-on Equity Offering in the amount of LKR 1.503895 billion. Asia Asset Finance PLC has filed a Follow-on Equity Offering in the amount of LKR 1.503895 billion.
Security Name: Ordinary Voting Shares
Security Type: Common Stock
Securities Offered: 45,162,012
Price\Range: LKR 33.3
Transaction Features: Rights Offering New Risk • Jun 04
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 7.8% 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 Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (61% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Market cap is less than US$100m (LK₨7.08b market cap, or US$21.1m). Recent Insider Transactions • Apr 11
Key Executive recently bought LK₨408k worth of stock On the 6th of April, Rajiv James Gunawardena bought around 8k shares on-market at roughly LK₨51.00 per share. This transaction amounted to 20% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth LK₨2.0m. Rajiv James has been a buyer over the last 12 months, purchasing a net total of LK₨2.4m worth in shares. Recent Insider Transactions • Mar 24
Key Executive recently bought LK₨2.0m worth of stock On the 19th of March, Rajiv James Gunawardena bought around 39k shares on-market at roughly LK₨50.27 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Rajiv James' only on-market trade for the last 12 months. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to LK₨45.70, the stock trades at a trailing P/E ratio of 10.5x. Average trailing P/E is 11x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 471% over the past three years. New Risk • Nov 01
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: 26% 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: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (72% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (13% net profit margin). Market cap is less than US$100m (LK₨7.48b market cap, or US$24.6m). Reported Earnings • Nov 01
Second quarter 2026 earnings released: EPS: LK₨1.76 (vs LK₨1.49 in 2Q 2025) Second quarter 2026 results: EPS: LK₨1.76 (up from LK₨1.49 in 2Q 2025). Revenue: LK₨1.20b (up 142% from 2Q 2025). Net income: LK₨218.9m (up 18% from 2Q 2025). Profit margin: 18% (down from 37% 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 29% per year but the company’s share price has increased by 104% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 29
Asia Asset Finance PLC, Annual General Meeting, Sep 22, 2025 Asia Asset Finance PLC, Annual General Meeting, Sep 22, 2025, at 10:00 Sri Lanka Standard Time. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to LK₨51.00, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 11x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 827% over the past three years. Reported Earnings • Jan 31
Third quarter 2025 earnings released: EPS: LK₨1.61 (vs LK₨0.58 in 3Q 2024) Third quarter 2025 results: EPS: LK₨1.61 (up from LK₨0.58 in 3Q 2024). Revenue: LK₨775.8m (up 117% from 3Q 2024). Net income: LK₨199.9m (up 107% from 3Q 2024). Profit margin: 26% (down from 27% 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 49% per year and the company’s share price has also increased by 49% per year. Announcement • Dec 28
Asia Asset Finance plc Appoints Arama Divakara Ginikanda Ilangakoon Yapa Mudiyanse Ralahamilage Ruwani Saumiya Angammana as Company Secretary Asia Asset Finance PLC announced that Ms. Arama Divakara Ginikanda Ilangakoon Yapa Mudiyanse Ralahamilage Ruwani Saumiya Angammana be appointed as the Company Secretary of the company, effective from 27 December 2024. Accordingly, in terms of the Finance Business Act Directions (Assessment of Fitness and Propriety of Key Responsible Persons (KRP) No. 6 of 2021, the Central Bank of Sri Lanka has granted approval for the appointment. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to LK₨27.00, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 6x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 225% over the past three years. Valuation Update With 7 Day Price Move • Dec 09
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to LK₨21.00, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 5x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Nov 11
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to LK₨17.00, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 7x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 113% over the past three years. Announcement • Nov 06
Asia Asset Finance PLC Announces Resignation of Chalani Gonaduwa as Company Secretary Asia Asset Finance PLC announced the resignation of Ms. Chalani Gonaduwa, Company Secretary of Company, with effect from 01st November 2024 as accepted by the Board of Directors of the company on 22nd October 2024. New Risk • Nov 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (8.5% average weekly change). Market cap is less than US$10m (LK₨1.76b market cap, or US$6.02m). Announcement • Jul 22
Asia Asset Finance PLC, Annual General Meeting, Aug 15, 2024 Asia Asset Finance PLC, Annual General Meeting, Aug 15, 2024, at 11:00 Sri Lanka Standard Time. Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: LK₨0.58 (vs LK₨0.64 in 3Q 2023) Third quarter 2024 results: EPS: LK₨0.58. Revenue: LK₨480.9m (up 47% from 3Q 2023). Net income: LK₨96.8m (up 22% from 3Q 2023). Profit margin: 20% (down from 24% in 3Q 2023). The decrease in margin was driven by higher expenses. New Risk • Jan 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Sri Lankan stocks, typically moving 7.0% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.0% average weekly change). Market cap is less than US$10m (LK₨1.49b market cap, or US$4.69m). Minor Risk High level of debt (47% net debt to equity). New Risk • Dec 06
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 6.0% 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₨1.63b market cap, or US$4.98m). Minor Risks High level of debt (47% net debt to equity). Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Nov 04
Second quarter 2024 earnings released: EPS: LK₨0.58 (vs LK₨0.80 in 2Q 2023) Second quarter 2024 results: EPS: LK₨0.58 (down from LK₨0.80 in 2Q 2023). Revenue: LK₨434.6m (up 19% from 2Q 2023). Net income: LK₨72.1m (down 28% from 2Q 2023). Profit margin: 17% (down from 27% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
First quarter 2024 earnings released: EPS: LK₨0.44 (vs LK₨0.41 in 1Q 2023) First quarter 2024 results: EPS: LK₨0.44 (up from LK₨0.41 in 1Q 2023). Revenue: LK₨383.9m (up 39% from 1Q 2023). Net income: LK₨55.2m (up 9.3% from 1Q 2023). Profit margin: 14% (down from 18% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Aug 11
Asia Asset Finance PLC, Annual General Meeting, Sep 01, 2023 Asia Asset Finance PLC, Annual General Meeting, Sep 01, 2023, at 10:00 Sri Lanka Standard Time. Agenda: To consider to receive and consider the Report of the Directors on the State of Affairs of the Company and the Statement of Audited Accounts for the year ended 31st March 2023 and the report of the auditors thereon;to consider to Mr. J. P. D. R. Jayasekara retires by rotation in accordance with Article 87 of the Articles of Association of the Company and being eligible, offers himself for re-election in terms of Article 88 of the Articles of Association;to consider Mr. R. A. B. Basnayake retires by rotation in accordance with Article 87 of the Articles of Association of the Company and being eligible, offers himself for re-election in terms of Article 88 of the Articles of Association; and to consider to re-appoint Messrs. BDO Partners Chartered Accountants as the Auditors to the Company for the ensuing year and to authorize the Directors to determine their remuneration. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨10.60, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 7x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 22% over the past three years. New Risk • Jul 04
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 7.7% 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₨1.16b market cap, or US$3.78m). Minor Risks High level of debt (124% net debt to equity). Share price has been volatile over the past 3 months (7.7% average weekly change). Revenue is less than US$5m (LK₨1.2b revenue, or US$3.9m). Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: LK₨0.64 (vs LK₨0.32 in 3Q 2022) Third quarter 2023 results: EPS: LK₨0.64 (up from LK₨0.32 in 3Q 2022). Revenue: LK₨328.1m (up 82% from 3Q 2022). Net income: LK₨79.2m (up 99% from 3Q 2022). Profit margin: 24% (up from 22% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 13
Investor sentiment improved over the past week After last week's 17% share price gain to LK₨8.10, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 4x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 4.7% over the past three years. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Chairman Vadakke Prasanth was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 22
Second quarter 2023 earnings released: EPS: LK₨0.80 (vs LK₨0.20 in 2Q 2022) Second quarter 2023 results: EPS: LK₨0.80 (up from LK₨0.20 in 2Q 2022). Revenue: LK₨517.3m (up LK₨482.9m from 2Q 2022). Net income: LK₨99.6m (up 300% from 2Q 2022). Profit margin: 19% (down from 73% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 20
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨7.20, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 4x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 8.9% over the past three years. Reported Earnings • Jul 28
First quarter 2023 earnings released: EPS: LK₨0.41 (vs LK₨0.079 in 1Q 2022) First quarter 2023 results: EPS: LK₨0.41 (up from LK₨0.079 in 1Q 2022). Revenue: LK₨446.0m (up 52% from 1Q 2022). Net income: LK₨50.5m (up 420% from 1Q 2022). Profit margin: 11% (up from 3.3% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 19% share price gain to LK₨7.00, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 5x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 5.4% over the past three years. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Chairman Vadakke Prasanth was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorated over the past week After last week's 22% share price decline to LK₨6.20, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 5x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 21% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 23% share price gain to LK₨10.20, the stock trades at a trailing P/E ratio of 16.1x. Average trailing P/E is 11x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 28% over the past three years. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Independent Non-Executive Chairman Vadakke Prasanth was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 20% share price gain to LK₨8.50, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 6x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 5.6% over the past three years. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨7.90, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 6x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 28% over the past three years. Is New 90 Day High Low • Mar 02
New 90-day low: LK₨5.90 The company is down 34% from its price of LK₨9.00 on 02 December 2020. The Sri Lankan market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 75% over the same period. Is New 90 Day High Low • Feb 10
New 90-day low: LK₨7.00 The company is down 17% from its price of LK₨8.40 on 12 November 2020. The Sri Lankan market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 96% over the same period. Is New 90 Day High Low • Jan 26
New 90-day low: LK₨7.80 The company is down 6.0% from its price of LK₨8.30 on 28 October 2020. The Sri Lankan market is up 53% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Consumer Finance industry, which is up 108% over the same period. Announcement • Dec 26
Asia Asset Finance PLC, Annual General Meeting, Jan 20, 2021 Asia Asset Finance PLC, Annual General Meeting, Jan 20, 2021, at 10:30 Sri Lanka Standard Time. Location: the Board Room of Asia Asset Finance PLC at No.76, Park Street, Colombo 02 Sri Lanka Agenda: To receive and consider the Report of the Directors on the State of Affairs of the Company and the Statement of Audited Accounts for the year ended 31st March 2020 and the report of the auditors thereon; to re-elect Mrs. D. PPier is who retires by rotation in accordance with Article BT of the Articles of Association of the Company and being eligible, offers herself for re-election in terms of Article 88 of the Articles of Association; to re-elect Mr. R. A. B. Basnayake who retires by rotation in accordance with Article BT of the Articles of Association of the Company and being eligible, offers himself for re-election in terms of Article BB of the Articles of Association; and to consider other matters. Is New 90 Day High Low • Oct 12
New 90-day high: LK₨9.30 The company is up 12% from its price of LK₨8.30 on 14 July 2020. The Sri Lankan market is up 20% over the last 90 days, indicating the company underperformed over that time. However, its price trend is similar to the Consumer Finance industry, which is also up 12% over the same period. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 16% share price gain to LK₨9.30, the stock is trading at a trailing P/E ratio of 41x, up from the previous P/E ratio of 35.2x. This compares to an average P/E of 7x in the Consumer Finance industry in Sri Lanka. Total return to shareholders over the past three years is a loss of 42%. 
