New Risk • Apr 08
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 9.4% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (84% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (9.4% average weekly change). Market cap is less than US$100m (LK₨6.10b market cap, or US$19.4m). Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨40.80, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 10x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 327% over the past three years. Recent Insider Transactions • Mar 08
Non-Executive Non-Independent Director recently bought LK₨1.6m worth of stock On the 27th of February, Senthi Senthilverl bought around 39k shares on-market at roughly LK₨40.00 per share. This transaction amounted to 6.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth LK₨22m. Insiders have collectively bought LK₨25m more in shares than they have sold in the last 12 months. Reported Earnings • Jan 31
Third quarter 2026 earnings released Third quarter 2026 results: Revenue: LK₨945.2m (up 51% from 3Q 2025). Net income: LK₨212.9m (up 72% from 3Q 2025). Profit margin: 23% (up from 20% in 3Q 2025). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to LK₨50.60, the stock trades at a trailing P/E ratio of 14.9x. Average trailing P/E is 15x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 421% over the past three years. New Risk • Oct 22
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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (65% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (LK₨7.23b market cap, or US$23.8m). Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨37.10, the stock trades at a trailing P/E ratio of 10.9x. Average trailing P/E is 11x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 272% over the past three years. Upcoming Dividend • Jul 01
Upcoming dividend of LK₨1.25 per share Eligible shareholders must have bought the stock before 08 July 2025. Payment date: 25 July 2025. Payout ratio is a comfortable 22% but the company is not cash flow positive. Trailing yield: 2.1%. Lower than top quartile of Sri Lankan dividend payers (5.0%). Lower than average of industry peers (3.8%). Announcement • Jun 29
Sarvodaya Development Finance PLC announces Annual dividend, payable on July 25, 2025 Sarvodaya Development Finance PLC announced Annual dividend of LKR 1.2500 per share payable on July 25, 2025, ex-date on July 08, 2025 and record date on July 09, 2025. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to LK₨29.60, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 8x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 184% over the past three years. Announcement • Jun 02
Sarvodaya Development Finance PLC, Annual General Meeting, Jun 25, 2025 Sarvodaya Development Finance PLC, Annual General Meeting, Jun 25, 2025, at 11:00 Sri Lanka Standard Time. Location: miyamoto hall, sarvodaya development finance plc, no 155/a, dr. danister de silva mawatha, colombo 08, Sri Lanka Reported Earnings • May 31
Full year 2025 earnings released: EPS: LK₨3.17 (vs LK₨1.67 in FY 2024) Full year 2025 results: EPS: LK₨3.17 (up from LK₨1.67 in FY 2024). Revenue: LK₨2.51b (up 55% from FY 2024). Net income: LK₨473.8m (up 90% from FY 2024). Profit margin: 19% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year whereas the company’s share price has increased by 27% per year. Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨27.90, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 7x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 179% over the past three years. Board Change • May 01
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. 6 experienced directors. No highly experienced directors. Non Executive & Independent Director Ramya Wickremeratne was the last director to join the board, commencing their role in 2024. 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 • Apr 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨22.00, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 8x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 120% over the past three years. Upcoming Dividend • Mar 14
Upcoming dividend of LK₨0.65 per share Eligible shareholders must have bought the stock before 21 March 2025. Payment date: 10 April 2025. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of Sri Lankan dividend payers (5.8%). In line with average of industry peers (3.9%). Announcement • Mar 12
Sarvodaya Development Finance PLC announces Annual dividend, payable on April 10, 2025 Sarvodaya Development Finance PLC announced Annual dividend of LKR 0.6500 per share payable on April 10, 2025, ex-date on March 21, 2025 and record date on March 24, 2025. Reported Earnings • Jan 31
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: LK₨640.4m (up 54% from 3Q 2024). Net income: LK₨123.7m (up 80% from 3Q 2024). Profit margin: 19% (up from 17% in 3Q 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨20.00, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 7x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 24% over the past three years. Reported Earnings • Nov 02
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: LK₨645.7m (up 52% from 2Q 2024). Net income: LK₨121.0m (up 76% from 2Q 2024). Profit margin: 19% (up from 16% in 2Q 2024). The increase in margin was driven by higher revenue. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: LK₨2.53 (vs LK₨0.067 in 1Q 2024) First quarter 2025 results: EPS: LK₨2.53 (up from LK₨0.067 in 1Q 2024). Revenue: LK₨546.9m (up 81% from 1Q 2024). Net income: LK₨94.7m (up LK₨84.6m from 1Q 2024). Profit margin: 17% (up from 3.3% in 1Q 2024). The increase in margin was driven by higher revenue. Announcement • Jun 06
Sarvodaya Development Finance PLC, Annual General Meeting, Jun 27, 2024 Sarvodaya Development Finance PLC, Annual General Meeting, Jun 27, 2024, at 11:00 Sri Lanka Standard Time. Location: auditorium of sarvodaya development finance plc, no. 155/a, dr danister de silva mawatha, colombo 08, Sri Lanka Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: LK₨1.67 (vs LK₨1.48 in FY 2023) Full year 2024 results: EPS: LK₨1.67 (up from LK₨1.48 in FY 2023). Revenue: LK₨1.67b (up 30% from FY 2023). Net income: LK₨249.6m (up 13% from FY 2023). Profit margin: 15% (down from 17% in FY 2023). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 16
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: LK₨425.7m (up 27% from 3Q 2023). Net income: LK₨68.8m (up 1.9% from 3Q 2023). Profit margin: 16% (down from 20% in 3Q 2023). The decrease in margin was driven by higher expenses. New Risk • Jan 30
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₨1.99b market cap, or US$6.28m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Revenue is less than US$5m (LK₨1.5b revenue, or US$4.6m). New Risk • Nov 26
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 5.5% 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 Risk Market cap is less than US$10m (LK₨1.88b market cap, or US$5.74m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.5% average weekly change). Revenue is less than US$5m (LK₨1.5b revenue, or US$4.4m). Announcement • Nov 05
Sarvodaya Development Finance plc Appoints Shiromi Patabendige as Company Secretary Sarvodaya Development Finance PLC announced that Ms. Shiromi Patabendige has been appointed to the post of Company Secretary with effect from 1st November 2023. Reported Earnings • Oct 28
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: LK₨434.3m (up 56% from 2Q 2023). Net income: LK₨68.9m (up 76% from 2Q 2023). Profit margin: 16% (up from 14% in 2Q 2023). The increase in margin was driven by higher revenue. Announcement • Aug 30
Sarvodaya Development Finance PLC Announces the Retirement of Masayoshi Yamashita as Non-Independent Non-Executive Director Sarvodaya Development Finance PLC announced that Mr. Masayoshi Yamashita, who was a Non-Independent Non-Executive Director of the company completed his term of 9 years of service as a Director of the Company on August 27, 2023. Accordingly, in terms of Section 3.3 of the Finance Companies (Corporate Govemance) Direction No. 5 of 2021, Mr. Masayoshi Yamashita ceased to be a Director of the Company, effective from August 27, 2023. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: LK₨0.27 (vs LK₨0.23 in 1Q 2023) First quarter 2024 results: EPS: LK₨0.27. Revenue: LK₨313.9m (up 11% from 1Q 2023). Net income: LK₨10.1m (down 70% from 1Q 2023). Profit margin: 3.2% (down from 12% in 1Q 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to LK₨11.70, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 6x in the Consumer Finance industry in Sri Lanka. Total returns to shareholders of 1.6% over the past year. Announcement • Jun 06
Sarvodaya Development Finance PLC, Annual General Meeting, Jun 26, 2023 Sarvodaya Development Finance PLC, Annual General Meeting, Jun 26, 2023, at 10:00 Sri Lanka Standard Time. Location: at the SDF Auditorium, Sarvodaya Development Finance PLC, No 155/A Dr. Danister De Silva Mawatha Colombo 8 Sri Lanka Agenda: To receive and consider the Annual Report of the Board of Directors on the affairs of Company and the Financial Statements for the year ended 31 March 2023 and the Report of the Auditors thereon; to re-appoint Mr. Amrit CanagaRetna who retires by rotation in terms of Article 85 of the Articles of Association, as a Director of the Company; to re-elect Ms. Shehara de Silva who retires by rotation in terms of Article 85 of the Articles of Association, as a Director of the Company; to re-appoint Messrs Ernst & Young, Chartered Accountants as Auditors of the Company for the ensuing year and to authorize the Directors to determine their remuneration; and to authorize the Directors to determine donations for the year ending 31 March 2024 and up to the date of the next Annual General Meeting. Reported Earnings • Jun 03
Full year 2023 earnings released: EPS: LK₨1.48 (vs LK₨1.86 in FY 2022) Full year 2023 results: EPS: LK₨1.48. Revenue: LK₨1.31b (up 16% from FY 2022). Net income: LK₨221.6m (up 2.9% from FY 2022). Profit margin: 17% (down from 19% in FY 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: LK₨0.45 (vs LK₨0.62 in 3Q 2022) Third quarter 2023 results: EPS: LK₨0.45. Revenue: LK₨345.0m (up 20% from 3Q 2022). Net income: LK₨67.5m (flat on 3Q 2022). Profit margin: 20% (down from 23% in 3Q 2022). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to LK₨12.30, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 4x in the Consumer Finance industry in Sri Lanka. Total loss to shareholders of 28% over the past year. Upcoming Dividend • Sep 20
Upcoming dividend of LK₨0.50 per share Eligible shareholders must have bought the stock before 27 September 2022. Payment date: 18 October 2022. Trailing yield: 7.9%. Within top quartile of Sri Lankan dividend payers (7.6%). Higher than average of industry peers (5.5%). Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: LK₨0.90 (vs LK₨1.25 in 1Q 2022) First quarter 2023 results: EPS: LK₨0.90 (down from LK₨1.25 in 1Q 2022). Revenue: LK₨288.8m (up 8.1% from 1Q 2022). Net income: LK₨33.8m (down 67% from 1Q 2022). Profit margin: 12% (down from 39% in 1Q 2022). The decrease in margin was driven by higher expenses. Board Change • Jul 31
High number of new directors Non Executive & Non Independent Director Ramesh Schaffter was the last director to join the board, commencing their role in 2022. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment deteriorated over the past week After last week's 17% share price decline to LK₨9.60, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 4x in the Consumer Finance industry in Sri Lanka. Announcement • Jun 16
Sarvodaya Development Finance PLC Announces Demise of Chamindha Samantha Rajakaruna, Non-Independent Non-Executive Director Sarvodaya Development Finance PLC announced the demise of Mr. Chamindha Samantha Rajakaruna, who served as a Non-Independent Non-Executive Director on 13 June 2022. Announcement • Jun 08
Sarvodaya Development Finance PLC, Annual General Meeting, Jun 29, 2022 Sarvodaya Development Finance PLC, Annual General Meeting, Jun 29, 2022, at 10:00 Sri Lanka Standard Time. Location: Vishwa Samadhi Conference Hall, Sarvodaya Headquarters No. 98, Rawatawatta Road Moratuwa Sri Lanka Agenda: To receive and consider the Annual Report of the Board of Directors on the affairs of Company and the Financial Statements for the year ended 31st March 2022 and the Report of the Auditors thereon; to re-appoint Mr. Masayoshi Yamashita who retires by rotation in terms of Article 85 of the Articles of Association, as a Director of the Company; to re-elect Mr. S. S. N. Senthilverl who retires by rotation in terms of Article 92 of the Articles of Association, as a Director of the Company; to re-appoint Messrs Ernst & Young. Chartered Accountants as Auditors of the Company for the ensuing year and to authorize the Directors to determine their remuneration; to authorize the Directors to determine donations for the year ending 31st March 2023 and up to the date of the next Annual General Meeting; and to consider the other matters. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: LK₨1.86 (vs LK₨2.55 in FY 2021) Full year 2022 results: EPS: LK₨1.86. Revenue: LK₨1.18b (up 26% from FY 2021). Net income: LK₨215.5m (up 18% from FY 2021). Profit margin: 18% (down from 20% in FY 2021). The decrease in margin was driven by higher expenses. Board Change • May 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non Executive & Non Independent Director Ramesh Schaffter was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorated over the past week After last week's 21% share price decline to LK₨12.00, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 5x in the Consumer Finance industry in Sri Lanka. Recent Insider Transactions • Mar 23
Non-Executive Independent Director recently sold LK₨151k worth of stock On the 16th of March, Shehara De Silva sold around 10k shares on-market at roughly LK₨15.09 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to LK₨15.10, the stock trades at a trailing P/E ratio of 10.2x. Average trailing P/E is 6x in the Consumer Finance industry in Sri Lanka. Announcement • Feb 11
Sarvodaya Development Finance PLC Announces Impairment Charges for Loans and Other Losses for the Third Quarter Ended December 31, 2021 Sarvodaya Development Finance PLC announced Impairment Charges for Loans and Other Losses for the third quarter ended December 31, 2021 of LKR 30.63 million compared to LKR 4.1 million reported a year ago. Board Change • Feb 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Independent Non-Executive Chairman Ginige Channa De Silva was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. 
