New Risk • May 23
New major risk - Negative shareholders equity The company has negative equity. Total equity: -LK₨530m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Negative equity (-LK₨530m). Earnings have declined by 0.2% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (LK₨21.6b market cap, or US$65.5m). Reported Earnings • May 23
Full year 2026 earnings released: LK₨8.64 loss per share (vs LK₨6.56 loss in FY 2025) Full year 2026 results: LK₨8.64 loss per share (further deteriorated from LK₨6.56 loss in FY 2025). Revenue: LK₨37.2b (down 16% from FY 2025). Net loss: LK₨3.34b (loss widened 32% from FY 2025). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has increased by 36% per year, which means it is well ahead of earnings. Reported Earnings • Nov 17
Second quarter 2026 earnings released: LK₨2.14 loss per share (vs LK₨1.60 loss in 2Q 2025) Second quarter 2026 results: LK₨2.14 loss per share (further deteriorated from LK₨1.60 loss in 2Q 2025). Revenue: LK₨13.2b (up 14% from 2Q 2025). Net loss: LK₨827.1m (loss widened 34% from 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 74% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Nov 12
Now 21% undervalued Over the last 90 days, the stock has risen 164% to LK₨58.10. The fair value is estimated to be LK₨73.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 29% over the last 3 years. Earnings per share has grown by 12%. New Risk • Sep 08
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 17% 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 Risk Share price has been highly volatile over the past 3 months (17% average weekly change). Minor Risk Market cap is less than US$100m (LK₨24.2b market cap, or US$80.3m). Reported Earnings • Aug 16
First quarter 2026 earnings released: LK₨0.82 loss per share (vs LK₨0.82 loss in 1Q 2025) First quarter 2026 results: LK₨0.82 loss per share (in line with 1Q 2025). Revenue: LK₨12.1b (down 3.4% from 1Q 2025). Net loss: LK₨318.5m (flat on 1Q 2025). Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 20% per year. Board Change • Jul 28
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. 8 experienced directors. No highly experienced directors. Independent Non-Executive Director Pattage Mayurasiri Fernando was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Jun 02
Full year 2025 earnings released: LK₨5.34 loss per share (vs LK₨2.52 loss in FY 2024) Full year 2025 results: LK₨5.34 loss per share (further deteriorated from LK₨2.52 loss in FY 2024). Revenue: LK₨44.2b (up 42% from FY 2024). Net loss: LK₨2.07b (loss widened 112% from FY 2024). Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. New Risk • Apr 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 6.4% 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 Less than 1 year of cash runway based on free cash flow trend (-LK₨6.3b free cash flow). Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Market cap is less than US$100m (LK₨10.9b market cap, or US$36.8m). Reported Earnings • Feb 15
Third quarter 2025 earnings released: LK₨2.37 loss per share (vs LK₨0.74 loss in 3Q 2024) Third quarter 2025 results: LK₨2.37 loss per share (further deteriorated from LK₨0.74 loss in 3Q 2024). Revenue: LK₨6.96b (down 5.0% from 3Q 2024). Net loss: LK₨916.2m (loss widened 221% from 3Q 2024). 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 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 14
Second quarter 2025 earnings released: LK₨1.60 loss per share (vs LK₨2.54 profit in 2Q 2024) Second quarter 2025 results: LK₨1.60 loss per share (down from LK₨2.54 profit in 2Q 2024). Revenue: LK₨11.5b (up 61% from 2Q 2024). Net loss: LK₨619.7m (down 163% from profit in 2Q 2024). 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 10% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
First quarter 2025 earnings released: LK₨0.82 loss per share (vs LK₨1.86 loss in 1Q 2024) First quarter 2025 results: LK₨0.82 loss per share (improved from LK₨1.86 loss in 1Q 2024). Revenue: LK₨12.5b (up 105% from 1Q 2024). Net loss: LK₨318.0m (loss narrowed 56% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jul 06
LAUGFS Gas PLC, Annual General Meeting, Jul 17, 2024 LAUGFS Gas PLC, Annual General Meeting, Jul 17, 2024, at 10:00 Sri Lanka Standard Time. Reported Earnings • Jun 29
Full year 2024 earnings released: LK₨2.52 loss per share (vs LK₨3.15 loss in FY 2023) Full year 2024 results: LK₨2.52 loss per share (improved from LK₨3.15 loss in FY 2023). Revenue: LK₨31.2b (up 39% from FY 2023). Net loss: LK₨975.6m (loss narrowed 20% from FY 2023). Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. New Risk • Jun 13
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 5.0% 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: Minor Risks Share price has been volatile over the past 3 months (5.0% average weekly change). Market cap is less than US$100m (LK₨13.3b market cap, or US$43.8m). Reported Earnings • May 30
Full year 2024 earnings released Full year 2024 results: Revenue: LK₨31.2b (up 39% from FY 2023). Net loss: LK₨975.6m (loss narrowed 20% from FY 2023). Over the last 3 years on average, earnings per share has increased by 53% 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 • Feb 18
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (5.5% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (LK₨13.7b market cap, or US$43.8m). Reported Earnings • Feb 16
Third quarter 2024 earnings released: LK₨0.74 loss per share (vs LK₨11.63 profit in 3Q 2023) Third quarter 2024 results: LK₨0.74 loss per share (down from LK₨11.63 profit in 3Q 2023). Revenue: LK₨7.33b (down 6.2% from 3Q 2023). Net loss: LK₨285.9m (down 106% from profit in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: LK₨2.54 (vs LK₨1.26 loss in 2Q 2023) Second quarter 2024 results: EPS: LK₨2.54 (up from LK₨1.26 loss in 2Q 2023). Revenue: LK₨7.15b (up 73% from 2Q 2023). Net income: LK₨984.2m (up LK₨1.47b from 2Q 2023). Profit margin: 14% (up from net loss in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨24.00, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 9x in the Oil and Gas industry in Asia. Total returns to shareholders of 85% over the past three years. Announcement • Sep 23
Laugfs Gas PLC, Annual General Meeting, Sep 21, 2023 Laugfs Gas PLC, Annual General Meeting, Sep 21, 2023. Announcement • Aug 29
Laugfs Gas plc Announces Executive Changes Laugfs Gas PLC has announced the appointment of Nalinda Kurukulasooriya as Chief Executive Officer of the company, with effect from June 5, 2023, following the elevation of the incumbent CEO Dr. Niroshan Jayanga Pieries as Laugfs Gas Cluseter CEO. Kurukulasooriya was the former General Manager at David Pieris Automobiles (Pvt.) Ltd, having experience as a General Manager with a demonstrated history of working in the automotive industry. He is skilled in sales, negotiation, management, customer service, account management and business development, strong community and social services. He is a professional with an NDT focused on mechanical engineering from the University of Moratuwa. He was formerly employed at David Pieris Automobiles (Pvt.) Ltd. and Diesel & Motor Engineering PLC. Reported Earnings • Aug 15
First quarter 2024 earnings released: LK₨1.86 loss per share (vs LK₨4.53 loss in 1Q 2023) First quarter 2024 results: LK₨1.86 loss per share (improved from LK₨4.53 loss in 1Q 2023). Revenue: LK₨6.08b (down 25% from 1Q 2023). Net loss: LK₨718.3m (loss narrowed 59% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. New Risk • Aug 12
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 8.3% 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 Interest payments are not well covered by earnings (0.9x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (LK₨14.4b market cap, or US$45.1m). Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨26.00, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 9x in the Oil and Gas industry in Asia. Total returns to shareholders of 139% over the past three years. Valuation Update With 7 Day Price Move • Jul 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨20.20, the stock trades at a trailing P/E ratio of 2.7x. Average trailing P/E is 9x in the Oil and Gas industry in Asia. Total returns to shareholders of 92% over the past three years. Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: LK₨5.76 (vs LK₨10.54 loss in FY 2022) Full year 2023 results: EPS: LK₨5.76 (up from LK₨10.54 loss in FY 2022). Revenue: LK₨22.5b (down 35% from FY 2022). Net income: LK₨2.88b (up LK₨6.96b from FY 2022). Profit margin: 13% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to LK₨14.50, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 7x in the Oil and Gas industry in Asia. Total returns to shareholders of 71% over the past three years. Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: LK₨11.84 (vs LK₨2.53 loss in 3Q 2022) Third quarter 2023 results: EPS: LK₨11.84 (up from LK₨2.53 loss in 3Q 2022). Revenue: LK₨7.81b (down 1.3% from 3Q 2022). Net income: LK₨4.50b (up LK₨5.48b from 3Q 2022). Profit margin: 58% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Reported Earnings • Nov 19
Second quarter 2023 earnings released: LK₨1.96 loss per share (vs LK₨2.46 loss in 2Q 2022) Second quarter 2023 results: LK₨1.96 loss per share (improved from LK₨2.46 loss in 2Q 2022). Revenue: LK₨8.11b (down 27% from 2Q 2022). Net loss: LK₨757.5m (loss narrowed 21% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Pattage Mayurasiri Fernando 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. Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Punsisi Lalith Withana was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 19
First quarter 2023 earnings released: LK₨4.53 loss per share (vs LK₨2.34 loss in 1Q 2022) First quarter 2023 results: LK₨4.53 loss per share (down from LK₨2.34 loss in 1Q 2022). Revenue: LK₨8.08b (down 16% from 1Q 2022). Net loss: LK₨1.75b (loss widened 94% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 07
Full year 2022 earnings released: LK₨10.54 loss per share (vs LK₨1.77 loss in FY 2021) Full year 2022 results: LK₨10.54 loss per share (down from LK₨1.77 loss in FY 2021). Revenue: LK₨34.6b (down 2.6% from FY 2021). Net loss: LK₨4.08b (loss widened 495% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues in line with analyst expectations Third quarter 2022 results: Revenue: LK₨7.91b (down 25% from 3Q 2021). Net loss: LK₨980.7m (down LK₨1.13b from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Sampath Perera Amaratunge was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 10
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Non-Executive Director Sampath Perera Amaratunge was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
First quarter 2022 earnings released The company reported a mediocre first quarter result with increased losses and weaker control over costs, although revenues improved. First quarter 2022 results: Revenue: LK₨9.65b (up 68% from 1Q 2021). Net loss: LK₨903.7m (loss widened 396% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 05
Full year 2021 earnings released: LK₨1.77 loss per share (vs LK₨4.44 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: LK₨35.5b (up 31% from FY 2020). Net loss: LK₨685.5m (loss narrowed 60% from FY 2020). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Mar 04
New 90-day low: LK₨16.10 The company is down 15% from its price of LK₨18.90 on 04 December 2020. The Sri Lankan market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Oil and Gas industry, which is flat over the same period. Reported Earnings • Jan 27
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: LK₨10.5b (up 35% from 3Q 2020). Net income: LK₨151.5m (up LK₨740.2m from 3Q 2020). Profit margin: 1.4% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 1% per year. Is New 90 Day High Low • Jan 19
New 90-day high: LK₨22.60 The company is up 93% from its price of LK₨11.70 on 21 October 2020. The Sri Lankan market is up 33% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 28
New 90-day high: LK₨20.30 The company is up 54% from its price of LK₨13.20 on 29 September 2020. The Sri Lankan market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is down 1.0% over the same period. Reported Earnings • Nov 07
Second quarter 2021 earnings released: EPS LK₨1.02 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: LK₨8.85b (up 31% from 2Q 2020). Net income: LK₨395.3m (up LK₨378.0m from 2Q 2020). Profit margin: 4.5% (up from 0.3% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Nov 05
New 90-day high: LK₨14.00 The company is up 28% from its price of LK₨10.90 on 07 August 2020. The Sri Lankan market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Oil and Gas industry, which is flat over the same period.