Reported Earnings • May 23
Full year 2026 earnings released: EPS: LK₨12.18 (vs LK₨12.10 in FY 2025) Full year 2026 results: EPS: LK₨12.18 (up from LK₨12.10 in FY 2025). Revenue: LK₨67.1b (up 55% from FY 2025). Net income: LK₨3.62b (flat on FY 2025). Profit margin: 5.4% (down from 8.3% in FY 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Recent Insider Transactions • Apr 22
MD & Executive Director recently bought LK₨28m worth of stock On the 17th of April, Hegodagamage Senarath Kariyawasan bought around 225k shares on-market at roughly LK₨122 per share. This transaction amounted to 11% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth LK₨61m. Hegodagamage Senarath has been a buyer over the last 12 months, purchasing a net total of LK₨89m worth in shares. Declared Dividend • Apr 02
Third quarter dividend of LK₨1.70 announced Shareholders will receive a dividend of LK₨1.70. Ex-date: 15th April 2026 Payment date: 28th April 2026 Dividend yield will be 3.6%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 4.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Declared Dividend • Jan 01
Second quarter dividend of LK₨1.05 announced Shareholders will receive a dividend of LK₨1.05. Ex-date: 9th January 2026 Payment date: 23rd January 2026 Dividend yield will be 3.7%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 5.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Dec 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: LK₨30.5b (US$99.1m) This is considered a minor 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 High level of non-cash earnings (31% accrual ratio). Minor Risks Paying a dividend despite having no free cash flows. Market cap is less than US$100m (LK₨30.5b market cap, or US$99.1m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: LK₨2.50 (vs LK₨2.26 in 2Q 2025) Second quarter 2026 results: EPS: LK₨2.50 (up from LK₨2.26 in 2Q 2025). Revenue: LK₨14.8b (up 41% from 2Q 2025). Net income: LK₨743.2m (up 11% from 2Q 2025). Profit margin: 5.0% (down from 6.4% in 2Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Price Target Changed • Oct 11
Price target increased by 21% to LK₨129 Up from LK₨106, the current price target is provided by 1 analyst. New target price is 8.0% above last closing price of LK₨119. Stock is up 51% over the past year. The company posted earnings per share of LK₨12.10 last year. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨116, the stock trades at a trailing P/E ratio of 10.2x. Average forward P/E is 19x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 104% over the past three years. Declared Dividend • Oct 02
First quarter dividend of LK₨0.82 announced Shareholders will receive a dividend of LK₨0.82. Ex-date: 10th October 2025 Payment date: 24th October 2025 Dividend yield will be 3.3%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 11% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: LK₨1.74 (vs LK₨2.50 in 1Q 2025) First quarter 2026 results: EPS: LK₨1.74 (down from LK₨2.50 in 1Q 2025). Revenue: LK₨13.7b (up 36% from 1Q 2025). Net income: LK₨517.6m (down 30% from 1Q 2025). Profit margin: 3.8% (down from 7.4% in 1Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Declared Dividend • Jul 03
Fourth quarter dividend reduced to LK₨0.50 Dividend of LK₨0.50 is 17% lower than last year. Ex-date: 11th July 2025 Payment date: 24th July 2025 Dividend yield will be 4.1%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 18% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jul 02
Haycarb PLC Announces First Interim Dividend for the Financial Year 2025/26, Payable on 24 Jul 2025 Haycarb PLC announced first interim dividend of LKR 0.5 per share for the financial year 2025/26. XD date: 11 Jul 2025. Payment date: 24 Jul 2025. Announcement • Jun 05
Haycarb PLC, Annual General Meeting, Jun 26, 2025 Haycarb PLC, Annual General Meeting, Jun 26, 2025, at 09:00 Sri Lanka Standard Time. Location: chas p. hayley lounge of hayleys plc, no. 400, deans road, colombo 10., Sri Lanka Reported Earnings • May 17
Full year 2025 earnings released: EPS: LK₨12.10 (vs LK₨12.60 in FY 2024) Full year 2025 results: EPS: LK₨12.10 (down from LK₨12.60 in FY 2024). Revenue: LK₨43.2b (flat on FY 2024). Net income: LK₨3.60b (down 3.9% from FY 2024). Profit margin: 8.3% (down from 8.7% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Declared Dividend • Mar 30
Third quarter dividend of LK₨1.60 announced Shareholders will receive a dividend of LK₨1.60. Ex-date: 8th April 2025 Payment date: 23rd April 2025 Dividend yield will be 4.6%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 15% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: LK₨2.80 (vs LK₨4.31 in 3Q 2024) Third quarter 2025 results: EPS: LK₨2.80 (down from LK₨4.31 in 3Q 2024). Revenue: LK₨10.9b (up 1.6% from 3Q 2024). Net income: LK₨831.7m (down 35% from 3Q 2024). Profit margin: 7.7% (down from 12% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Declared Dividend • Jan 01
Second quarter dividend of LK₨0.50 announced Shareholders will receive a dividend of LK₨0.50. Ex-date: 9th January 2025 Payment date: 22nd January 2025 Dividend yield will be 3.8%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (22% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 16% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: LK₨2.26 (vs LK₨3.23 in 2Q 2024) Second quarter 2025 results: EPS: LK₨2.26 (down from LK₨3.23 in 2Q 2024). Revenue: LK₨10.5b (down 7.8% from 2Q 2024). Net income: LK₨671.8m (down 30% from 2Q 2024). Profit margin: 6.4% (down from 8.4% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 4% per year. Declared Dividend • Oct 02
First quarter dividend of LK₨1.10 announced Shareholders will receive a dividend of LK₨1.10. Ex-date: 9th October 2024 Payment date: 21st October 2024 Dividend yield will be 5.9%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is well covered by both earnings (28% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 20% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 28% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Aug 25
MD & Executive Director recently bought LK₨8.3m worth of stock On the 20th of August, Hegodagamage Senarath Kariyawasan bought around 107k shares on-market at roughly LK₨78.00 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Hegodagamage Senarath has been a buyer over the last 12 months, purchasing a net total of LK₨57m worth in shares. Reported Earnings • Aug 14
First quarter 2025 earnings released: EPS: LK₨2.50 (vs LK₨2.12 in 1Q 2024) First quarter 2025 results: EPS: LK₨2.50 (up from LK₨2.12 in 1Q 2024). Revenue: LK₨10.1b (down 1.5% from 1Q 2024). Net income: LK₨742.5m (up 18% from 1Q 2024). Profit margin: 7.4% (up from 6.2% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Jul 01
Fourth quarter dividend of LK₨0.60 announced Shareholders will receive a dividend of LK₨0.60. Ex-date: 9th July 2024 Payment date: 18th July 2024 Dividend yield will be 7.0%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is well covered by both earnings (48% earnings payout ratio) and cash flows (33% cash payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 31% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 05
Haycarb PLC, Annual General Meeting, Jun 27, 2024 Haycarb PLC, Annual General Meeting, Jun 27, 2024, at 09:00 Sri Lanka Standard Time. Location: chas p. hayley lounge of hayleys plc, no. 400, deans road, colombo 10., Sri Lanka Reported Earnings • May 18
Full year 2024 earnings released: EPS: LK₨12.60 (vs LK₨19.60 in FY 2023) Full year 2024 results: EPS: LK₨12.60 (down from LK₨19.60 in FY 2023). Revenue: LK₨43.2b (down 29% from FY 2023). Net income: LK₨3.74b (down 36% from FY 2023). Profit margin: 8.7% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Apr 02
Upcoming dividend of LK₨1.00 per share Eligible shareholders must have bought the stock before 09 April 2024. Payment date: 29 April 2024. Payout ratio is a comfortable 8.1% and this is well supported by cash flows. Trailing yield: 8.2%. Within top quartile of Sri Lankan dividend payers (8.2%). In line with average of industry peers (8.4%). Recent Insider Transactions • Feb 24
MD & Executive Director recently bought LK₨9.7m worth of stock On the 21st of February, Hegodagamage Senarath Kariyawasan bought around 142k shares on-market at roughly LK₨68.74 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought LK₨16m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: LK₨4.31 (vs LK₨3.07 in 3Q 2023) Third quarter 2024 results: EPS: LK₨4.31 (up from LK₨3.07 in 3Q 2023). Revenue: LK₨10.7b (down 27% from 3Q 2023). Net income: LK₨1.28b (up 41% from 3Q 2023). Profit margin: 12% (up from 6.2% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Dec 30
MD & Executive Director recently bought LK₨5.8m worth of stock On the 22nd of December, Hegodagamage Senarath Kariyawasan bought around 90k shares on-market at roughly LK₨64.05 per share. This transaction amounted to 3.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: LK₨3.23 (vs LK₨4.04 in 2Q 2023) Second quarter 2024 results: EPS: LK₨3.23 (down from LK₨4.04 in 2Q 2023). Revenue: LK₨11.4b (down 38% from 2Q 2023). Net income: LK₨959.1m (down 20% from 2Q 2023). Profit margin: 8.4% (up from 6.5% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 24% 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 • Aug 11
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: 6.4% Last year net profit margin: 14% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.4% net profit margin). Market cap is less than US$100m (LK₨21.0b market cap, or US$65.5m). Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: LK₨2.12 (vs LK₨9.73 in 1Q 2023) First quarter 2024 results: EPS: LK₨2.12 (down from LK₨9.73 in 1Q 2023). Revenue: LK₨10.2b (down 32% from 1Q 2023). Net income: LK₨631.2m (down 78% from 1Q 2023). Profit margin: 6.2% (down from 19% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 33% per year whereas the company’s share price has increased by 36% per year. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨74.00, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 5x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 330% over the past three years. Upcoming Dividend • Jun 29
Upcoming dividend of LK₨1.00 per share at 10% yield Eligible shareholders must have bought the stock before 04 July 2023. Payment date: 11 July 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of Sri Lankan dividend payers (8.1%). Higher than average of industry peers (8.3%). Upcoming Dividend • Jun 23
Upcoming dividend of LK₨1.00 per share at 10% yield Eligible shareholders must have bought the stock before 30 June 2023. Payment date: 14 July 2023. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 10%. Within top quartile of Sri Lankan dividend payers (8.7%). Higher than average of industry peers (8.4%). Announcement • Jun 09
Haycarb PLC Proposes the Final Dividend Haycarb PLC proposed the final dividend of LKR 1.00 per share as recommended by the Board at the Annual General Meeting to be held on June 29, 2023. Reported Earnings • May 21
Full year 2023 earnings released: EPS: LK₨19.60 (vs LK₨11.07 in FY 2022) Full year 2023 results: EPS: LK₨19.60 (up from LK₨11.07 in FY 2022). Revenue: LK₨60.9b (up 84% from FY 2022). Net income: LK₨5.82b (up 77% from FY 2022). Profit margin: 9.6% (in line with FY 2022). Over the last 3 years on average, earnings per share has increased by 44% per year whereas the company’s share price has increased by 46% per year. Announcement • May 19
Haycarb PLC, Annual General Meeting, Jun 29, 2023 Haycarb PLC, Annual General Meeting, Jun 29, 2023. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: LK₨3.07 (vs LK₨1.98 in 3Q 2022) Third quarter 2023 results: EPS: LK₨3.07 (up from LK₨1.98 in 3Q 2022). Revenue: LK₨14.7b (up 74% from 3Q 2022). Net income: LK₨911.0m (up 55% from 3Q 2022). Profit margin: 6.2% (down from 7.0% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 47% per year whereas the company’s share price has increased by 44% per year. Upcoming Dividend • Jan 04
Upcoming dividend of LK₨1.50 per share Eligible shareholders must have bought the stock before 11 January 2023. Payment date: 23 January 2023. Payout ratio is a comfortable 5.3% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Sri Lankan dividend payers (8.5%). Lower than average of industry peers (5.9%). Recent Insider Transactions • Nov 23
Director recently bought LK₨495k worth of stock On the 18th of November, Sarath Ganegoda bought around 9k shares on-market at roughly LK₨52.60 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought LK₨53m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 16% share price decline to LK₨51.20, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 4x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 247% over the past three years. Reported Earnings • Nov 11
Second quarter 2023 earnings released: EPS: LK₨4.04 (vs LK₨1.79 in 2Q 2022) Second quarter 2023 results: EPS: LK₨4.04 (up from LK₨1.79 in 2Q 2022). Revenue: LK₨18.3b (up 146% from 2Q 2022). Net income: LK₨1.20b (up 125% from 2Q 2022). Profit margin: 6.5% (down from 7.2% 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 45% per year whereas the company’s share price has increased by 49% per year. Announcement • Oct 20
Haycarb PLC Appoints Donna Brindhini Perera as Non-Executive Director Dhammika Perera's eldest daughter Donna Brindhini Perera has been appointed as a Non-Executive Director of several companies of her father's business empire. She has been appointed to the board of Haycarb PLC, with effect from October 9, 2022. Brindhini Perera holds a Masters in Mechanical Engineering from the Imperial College London, covering Manufacturing Technology and Management, Entrepreneurship, Corporate Finance, Statistics and Mathematics. Upcoming Dividend • Oct 05
Upcoming dividend of LK₨2.75 per share Eligible shareholders must have bought the stock before 12 October 2022. Payment date: 21 October 2022. Payout ratio is a comfortable 9.8% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Sri Lankan dividend payers (8.1%). Lower than average of industry peers (5.6%). Reported Earnings • Aug 15
First quarter 2023 earnings released: EPS: LK₨9.73 (vs LK₨1.49 in 1Q 2022) First quarter 2023 results: EPS: LK₨9.73 (up from LK₨1.49 in 1Q 2022). Revenue: LK₨15.0b (up 103% from 1Q 2022). Net income: LK₨2.89b (up LK₨2.45b from 1Q 2022). Profit margin: 19% (up from 6.0% 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 40% per year but the company’s share price has increased by 73% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨58.00, the stock trades at a trailing P/E ratio of 5.2x. Average forward P/E is 13x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 391% over the past three years. Recent Insider Transactions • Jul 10
Director recently bought LK₨267k worth of stock On the 5th of July, Sarath Ganegoda bought around 5k shares on-market at roughly LK₨52.70 per share. In the last 3 months, there was an even bigger purchase from another insider worth LK₨9.2m. Insiders have collectively bought LK₨55m more in shares than they have sold in the last 12 months. Upcoming Dividend • Jun 22
Upcoming dividend of LK₨0.40 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 12 July 2022. Payout ratio is a comfortable 24% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Sri Lankan dividend payers (9.5%). Lower than average of industry peers (7.9%). Recent Insider Transactions • Jun 20
MD & Executive Director recently bought LK₨9.2m worth of stock On the 17th of June, Hegodagamage Senarath Kariyawasan bought around 159k shares on-market at roughly LK₨57.72 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought LK₨29m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Jun 14
MD & Executive Director recently bought LK₨7.1m worth of stock On the 9th of June, Hegodagamage Senarath Kariyawasan bought around 132k shares on-market at roughly LK₨53.92 per share. In the last 3 months, they made an even bigger purchase worth LK₨8.8m. Hegodagamage Senarath has been a buyer over the last 12 months, purchasing a net total of LK₨16m worth in shares. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨57.30, the stock trades at a trailing P/E ratio of 5.2x. Average forward P/E is 14x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 414% over the past three years. Recent Insider Transactions • Jun 06
MD & Executive Director recently bought LK₨8.8m worth of stock On the 31st of May, Hegodagamage Senarath Kariyawasan bought around 175k shares on-market at roughly LK₨50.01 per share. This was the largest purchase by an insider in the last 3 months. This was Hegodagamage Senarath's only on-market trade for the last 12 months. Announcement • May 20
Haycarb PLC, Annual General Meeting, Jun 28, 2022 Haycarb PLC, Annual General Meeting, Jun 28, 2022. Reported Earnings • May 20
Full year 2022 earnings released: EPS: LK₨11.06 (vs LK₨10.25 in FY 2021) Full year 2022 results: EPS: LK₨11.06 (up from LK₨10.25 in FY 2021). Revenue: LK₨33.2b (up 30% from FY 2021). Net income: LK₨3.29b (up 7.9% from FY 2021). Profit margin: 9.9% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 22% share price gain to LK₨55.50, the stock trades at a trailing P/E ratio of 7.5x. Average forward P/E is 13x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 405% over the past three years. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to LK₨50.20, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 7x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 385% over the past three years. Reported Earnings • Feb 11
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: LK₨1.98 (down from LK₨2.35 in 3Q 2021). Revenue: LK₨8.44b (up 21% from 3Q 2021). Net income: LK₨588.9m (down 16% from 3Q 2021). Profit margin: 7.0% (down from 10% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.7%. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 67% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS LK₨1.79 (vs LK₨3.44 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: LK₨7.45b (up 19% from 2Q 2021). Net income: LK₨533.3m (down 48% from 2Q 2021). Profit margin: 7.2% (down from 16% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 77% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions • Aug 29
Director recently bought LK₨2.4m worth of stock On the 23rd of August, Sarath Ganegoda bought around 30k shares on-market at roughly LK₨79.46 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought LK₨11m more in shares than they have sold in the last 12 months. Upcoming Dividend • Jun 21
Upcoming dividend of LK₨0.50 per share Eligible shareholders must have bought the stock before 28 June 2021. Payment date: 12 July 2021. Trailing yield: 4.2%. Lower than top quartile of Sri Lankan dividend payers (5.5%). Lower than average of industry peers (4.8%). Announcement • May 20
Haycarb PLC Recommends Final Dividend, Payable on July 12, 2021 Haycarb PLC at the Board Meeting held on May 18, 2021, the Directors have recommended the Final Dividend of LKR 0.50 (50 Cents) per share subject to the approval by the shareholders at the Annual General Meeting to be held on June 25, 2021 to be paid to the shareholders on July 12, 2021. Reported Earnings • May 20
Full year 2021 earnings released: EPS LK₨10.25 (vs LK₨5.25 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: LK₨25.5b (up 12% from FY 2020). Net income: LK₨3.05b (up 96% from FY 2020). Profit margin: 12% (up from 6.8% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 95% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨110, the stock trades at a trailing P/E ratio of 11.3x. Average trailing P/E is 8x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 1,060% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 16% share price decline to LK₨86.10, the stock is trading at a trailing P/E ratio of 8.9x, down from the previous P/E ratio of 10.6x. This compares to an average P/E of 8x in the Chemicals industry in Sri Lanka. Total returns to shareholders over the past three years are 721%. Is New 90 Day High Low • Feb 08
New 90-day high: LK₨1,590 The company is up 250% from its price of LK₨454 on 10 November 2020. The Sri Lankan market is up 36% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 73% over the same period. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment deteriorated over the past week After last week's 18% share price decline to LK₨1,060, the stock is trading at a trailing P/E ratio of 11.8x, down from the previous P/E ratio of 14.4x. This compares to an average P/E of 13x in the Chemicals industry in Sri Lanka. Total returns to shareholders over the past three years are 889%. Is New 90 Day High Low • Jan 20
New 90-day high: LK₨770 The company is up 119% from its price of LK₨351 on 22 October 2020. The Sri Lankan market is up 39% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 59% over the same period. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨675, the stock is trading at a trailing P/E ratio of 7.5x, up from the previous P/E ratio of 6.5x. This compares to an average P/E of 10x in the Chemicals industry in Sri Lanka. Total returns to shareholders over the past three years are 484%. Is New 90 Day High Low • Dec 28
New 90-day high: LK₨563 The company is up 77% from its price of LK₨318 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 Chemicals industry, which is up 49% over the same period. Is New 90 Day High Low • Dec 04
New 90-day high: LK₨542 The company is up 85% from its price of LK₨293 on 04 September 2020. The Sri Lankan market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 63% over the same period. Upcoming Dividend • Dec 01
Upcoming Dividend of LK₨14.00 Per Share Will be paid on the 23rd of December to those who are registered shareholders by the 8th of December. The trailing yield of 2.8% is below the top quartile of Sri Lankan dividend payers (4.6%), and is lower than industry peers (3.8%). Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 15% share price gain to LK₨541, the stock is trading at a trailing P/E ratio of 6x, up from the previous P/E ratio of 5.3x. This compares to an average P/E of 8x in the Chemicals industry in Sri Lanka. Total returns to shareholders over the past three years are 325%. Reported Earnings • Nov 07
Second quarter 2021 earnings released: EPS LK₨34.42 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: LK₨6.28b (up 5.3% from 2Q 2020). Net income: LK₨1.02b (up 201% from 2Q 2020). Profit margin: 16% (up from 5.7% in 2Q 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 47% per year whereas the company’s share price has increased by 46% per year. Is New 90 Day High Low • Nov 05
New 90-day high: LK₨462 The company is up 80% from its price of LK₨256 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 Chemicals industry, which is up 54% over the same period. Valuation Update With 7 Day Price Move • Nov 05
Market bids up stock over the past week After last week's 28% share price gain to LK₨462, the stock is trading at a trailing P/E ratio of 6.9x, up from the previous P/E ratio of 5.4x. This compares to an average P/E of 7x in the Chemicals industry in Sri Lanka. Total returns to shareholders over the past three years are 265%. Valuation Update With 7 Day Price Move • Oct 13
Market bids up stock over the past week After last week's 16% share price gain to LK₨349, the stock is trading at a trailing P/E ratio of 5.2x, up from the previous P/E ratio of 4.5x. This compares to an average P/E of 7x in the Chemicals industry in Sri Lanka. Total returns to shareholders over the past three years are 174%. Upcoming Dividend • Oct 05
Upcoming Dividend of LK₨5.00 Per Share Will be paid on the 21st of October to those who are registered shareholders by the 12th of October. The trailing yield of 5.0% is below the top quartile of Sri Lankan dividend payers (5.6%), but is in line with industry peers (5.2%). Is New 90 Day High Low • Sep 28
New 90-day high: LK₨320 The company is up 53% from its price of LK₨210 on 30 June 2020. The Sri Lankan market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 50% over the same period. 
