Declared Dividend • May 20
Final dividend of LK₨44.00 announced Shareholders will receive a dividend of LK₨44.00. Ex-date: 15th June 2026 Payment date: 3rd July 2026 Dividend yield will be 3.0%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is covered by earnings (44% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to LK₨2,587, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 12x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 381% over the past three years. Reported Earnings • May 05
First quarter 2026 earnings released: EPS: LK₨57.77 (vs LK₨41.22 in 1Q 2025) First quarter 2026 results: EPS: LK₨57.77 (up from LK₨41.22 in 1Q 2025). Revenue: LK₨496.3m (up 10% from 1Q 2025). Net income: LK₨86.7m (up 40% from 1Q 2025). Profit margin: 18% (up from 14% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. New Risk • Apr 28
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: LK₨1.6b (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨2.63b market cap, or US$8.25m). Minor Risks Dividend is not well covered by cash flows (126% cash payout ratio). Revenue is less than US$5m (LK₨1.6b revenue, or US$5.0m). Reported Earnings • Apr 02
Full year 2025 earnings released: EPS: LK₨173 (vs LK₨160 in FY 2024) Full year 2025 results: EPS: LK₨173 (up from LK₨160 in FY 2024). Revenue: LK₨1.59b (down 3.6% from FY 2024). Net income: LK₨260.0m (up 8.6% from FY 2024). Profit margin: 16% (up from 14% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. New Risk • Jan 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 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 Risk Market cap is less than US$10m (LK₨2.67b market cap, or US$8.62m). 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 (7.8% average weekly change). Valuation Update With 7 Day Price Move • Jan 19
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to LK₨1,779, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 12x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 276% over the past three years. New Risk • Dec 01
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 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨1.89b market cap, or US$6.14m). 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 (7.3% average weekly change). Buy Or Sell Opportunity • Nov 27
Now 21% undervalued Over the last 90 days, the stock has risen 33% to LK₨1,281. The fair value is estimated to be LK₨1,614, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.8% over the last 3 years, while earnings per share has been flat. Recent Insider Transactions • Nov 20
MD & Executive Director recently bought LK₨13m worth of stock On the 12th of November, Henadira Appuhamilage Upananda Gunasekera bought around 9k shares on-market at roughly LK₨1,425 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Henadira Appuhamilage Upananda has been a buyer over the last 12 months, purchasing a net total of LK₨29m worth in shares. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨1,420, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 12x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 148% over the past three years. Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: LK₨44.70 (vs LK₨34.55 in 3Q 2024) Third quarter 2025 results: EPS: LK₨44.70 (up from LK₨34.55 in 3Q 2024). Revenue: LK₨395.5m (up 10% from 3Q 2024). Net income: LK₨67.0m (up 29% from 3Q 2024). Profit margin: 17% (up from 14% in 3Q 2024). 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 increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Oct 12
First half dividend of LK₨38.00 announced Shareholders will receive a dividend of LK₨38.00. Ex-date: 22nd October 2025 Payment date: 7th November 2025 Dividend yield will be 5.8%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 18% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Jul 10
MD & Executive Director recently bought LK₨17m worth of stock On the 3rd of July, Henadira Appuhamilage Upananda Gunasekera bought around 21k shares on-market at roughly LK₨800 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Henadira Appuhamilage Upananda's only on-market trade for the last 12 months. Upcoming Dividend • Jun 09
Upcoming dividend of LK₨36.00 per share Eligible shareholders must have bought the stock before 16 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 8.5%. Within top quartile of Sri Lankan dividend payers (5.2%). Higher than average of industry peers (4.4%). Declared Dividend • May 18
Dividend increased to LK₨36.00 Dividend of LK₨36.00 is 33% higher than last year. Ex-date: 16th June 2025 Payment date: 30th June 2025 Dividend yield will be 7.8%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (46% cash payout ratio). 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 19% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 17
Union Chemicals Lanka PLC, Annual General Meeting, Jun 13, 2025 Union Chemicals Lanka PLC, Annual General Meeting, Jun 13, 2025, at 10:30 Sri Lanka Standard Time. Location: westwing conference hall, ceylon chamber of commerce, no. 50, nawam mawatha, colombo 02, Sri Lanka Reported Earnings • May 07
First quarter 2025 earnings released: EPS: LK₨41.22 (vs LK₨54.26 in 1Q 2024) First quarter 2025 results: EPS: LK₨41.22 (down from LK₨54.26 in 1Q 2024). Revenue: LK₨449.7m (down 19% from 1Q 2024). Net income: LK₨61.8m (down 24% from 1Q 2024). Profit margin: 14% (in line with 1Q 2024). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to LK₨800, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 8x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 21% over the past three years. New Risk • Apr 10
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 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨1.20b market cap, or US$4.04m). 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 (7.9% average weekly change). Reported Earnings • Jan 30
Full year 2024 earnings released: EPS: LK₨152 (vs LK₨165 in FY 2023) Full year 2024 results: EPS: LK₨152 (down from LK₨165 in FY 2023). Revenue: LK₨1.65b (up 2.3% from FY 2023). Net income: LK₨228.3m (down 7.5% from FY 2023). Profit margin: 14% (down from 15% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: LK₨34.55 (vs LK₨31.37 in 3Q 2023) Third quarter 2024 results: EPS: LK₨34.55 (up from LK₨31.37 in 3Q 2023). Revenue: LK₨358.2m (down 14% from 3Q 2023). Net income: LK₨51.8m (up 10% from 3Q 2023). Profit margin: 14% (up from 11% 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 26% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Declared Dividend • Oct 24
First half dividend of LK₨27.00 announced Shareholders will receive a dividend of LK₨27.00. Ex-date: 1st November 2024 Payment date: 14th November 2024 Dividend yield will be 7.7%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (46% cash payout ratio). The dividend has increased by an average of 17% 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. Reported Earnings • Aug 02
Second quarter 2024 earnings released: EPS: LK₨27.19 (vs LK₨27.03 in 2Q 2023) Second quarter 2024 results: EPS: LK₨27.19 (up from LK₨27.03 in 2Q 2023). Revenue: LK₨330.7m (up 6.7% from 2Q 2023). Net income: LK₨40.8m (flat on 2Q 2023). Profit margin: 12% (in line with 2Q 2023). Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jun 04
Upcoming dividend of LK₨27.00 per share Eligible shareholders must have bought the stock before 11 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 30% and this is well supported by cash flows. Trailing yield: 8.2%. Lower than top quartile of Sri Lankan dividend payers (8.5%). In line with average of industry peers (7.7%). Announcement • May 16
Union Chemicals Lanka PLC Proposes Final Dividend for the Year Ended December 25, 2023 Union Chemicals Lanka PLC proposed a final dividend of LKR 27 per share for the Year Ended December 25, 2023, to its AGM to be held on June 10, 2024. Reported Earnings • May 04
First quarter 2024 earnings released: EPS: LK₨54.26 (vs LK₨59.89 in 1Q 2023) First quarter 2024 results: EPS: LK₨54.26 (down from LK₨59.89 in 1Q 2023). Revenue: LK₨553.7m (up 12% from 1Q 2023). Net income: LK₨81.4m (down 9.4% from 1Q 2023). Profit margin: 15% (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 34% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Declared Dividend • May 04
Dividend of LK₨27.00 announced Shareholders will receive a dividend of LK₨27.00. Ex-date: 11th June 2024 Payment date: 28th June 2024 Dividend yield will be 6.7%, which is lower than the industry average of 8.6%. Sustainability & Growth Dividend is well covered by both earnings (21% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 33% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 03
Union Chemicals Lanka PLC, Annual General Meeting, Jun 10, 2024 Union Chemicals Lanka PLC, Annual General Meeting, Jun 10, 2024. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to LK₨552, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 6x in the Chemicals industry in Sri Lanka. Total loss to shareholders of 13% over the past three years. Reported Earnings • Jan 29
Full year 2023 earnings released: EPS: LK₨158 (vs LK₨108 in FY 2022) Full year 2023 results: EPS: LK₨158 (up from LK₨108 in FY 2022). Revenue: LK₨1.61b (down 3.9% from FY 2022). Net income: LK₨236.7m (up 46% from FY 2022). Profit margin: 15% (up from 9.6% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Jan 29
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Kosala Dissanayake was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jan 24
Full year 2023 earnings released: EPS: LK₨158 (vs LK₨108 in FY 2022) Full year 2023 results: EPS: LK₨158 (up from LK₨108 in FY 2022). Revenue: LK₨1.61b (down 3.9% from FY 2022). Net income: LK₨236.7m (up 46% from FY 2022). Profit margin: 15% (up from 9.6% in FY 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Jan 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Kosala Dissanayake was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: LK₨31.37 (vs LK₨92.61 in 3Q 2022) Third quarter 2023 results: EPS: LK₨31.37 (down from LK₨92.61 in 3Q 2022). Revenue: LK₨414.4m (flat on 3Q 2022). Net income: LK₨47.1m (down 66% from 3Q 2022). Profit margin: 11% (down from 34% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 40% 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 • Jul 29
Second quarter 2023 earnings released: EPS: LK₨27.03 (vs LK₨6.95 loss in 2Q 2022) Second quarter 2023 results: EPS: LK₨27.03 (up from LK₨6.95 loss in 2Q 2022). Revenue: LK₨310.1m (down 22% from 2Q 2022). Net income: LK₨40.5m (up LK₨51.0m from 2Q 2022). Profit margin: 13% (up from net loss in 2Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 06
Upcoming dividend of LK₨17.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 13 June 2023. Payment date: 05 July 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 4.8%. Lower than top quartile of Sri Lankan dividend payers (9.1%). Lower than average of industry peers (9.3%). Reported Earnings • May 04
First quarter 2023 earnings released: EPS: LK₨59.89 (vs LK₨22.93 loss in 1Q 2022) First quarter 2023 results: EPS: LK₨59.89 (up from LK₨22.93 loss in 1Q 2022). Revenue: LK₨492.9m (up 16% from 1Q 2022). Net income: LK₨89.8m (up LK₨124.2m from 1Q 2022). Profit margin: 18% (up from net loss in 1Q 2022). The move to profitability was primarily driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨680, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 5x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨685, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 4x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 93% over the past three years. Reported Earnings • Jan 26
Full year 2022 earnings released: EPS: LK₨105 (vs LK₨114 in FY 2021) Full year 2022 results: EPS: LK₨105 (down from LK₨114 in FY 2021). Revenue: LK₨1.68b (up 5.1% from FY 2021). Net income: LK₨158.1m (down 7.9% from FY 2021). Profit margin: 9.4% (down from 11% 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 23% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improved over the past week After last week's 20% share price gain to LK₨649, the stock trades at a trailing P/E ratio of 5.1x. Average trailing P/E is 4x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 83% over the past three years. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment deteriorated over the past week After last week's 17% share price decline to LK₨511, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 5x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to LK₨511, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 4x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 44% over the past three years. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Kosala Dissanayake was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: LK₨92.61 (vs LK₨19.87 in 3Q 2021) Third quarter 2022 results: EPS: LK₨92.61 (up from LK₨19.87 in 3Q 2021). Revenue: LK₨411.1m (flat on 3Q 2021). Net income: LK₨138.9m (up 366% from 3Q 2021). Profit margin: 34% (up from 7.3% in 3Q 2021). Over the last 3 years on average, earnings per share has increased by 23% per year whereas the company’s share price has increased by 24% per year. Reported Earnings • Jul 30
Second quarter 2022 earnings released: LK₨6.95 loss per share (vs LK₨8.17 profit in 2Q 2021) Second quarter 2022 results: LK₨6.95 loss per share (down from LK₨8.17 profit in 2Q 2021). Revenue: LK₨399.0m (up 38% from 2Q 2021). Net loss: LK₨10.4m (down 185% from profit in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Upcoming Dividend • Jun 06
Upcoming dividend of LK₨10.00 per share Eligible shareholders must have bought the stock before 13 June 2022. Payment date: 04 July 2022. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 3.2%. Lower than top quartile of Sri Lankan dividend payers (8.6%). Lower than average of industry peers (7.8%). Board Change • Jun 02
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Kosala Dissanayake was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • May 06
First quarter 2022 earnings released: LK₨22.93 loss per share (vs LK₨20.84 profit in 1Q 2021) First quarter 2022 results: LK₨22.93 loss per share (down from LK₨20.84 profit in 1Q 2021). Revenue: LK₨426.8m (up 16% from 1Q 2021). Net loss: LK₨34.4m (down 210% from profit in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 25% per year and the company’s share price has also increased by 25% per year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Kosala Dissanayake was the last independent director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment improved over the past week After last week's 24% share price gain to LK₨1,153, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 11x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 226% over the past three years. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 17% share price gain to LK₨913, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 10x in the Chemicals industry in Sri Lanka. Total returns to shareholders of 158% over the past three years. Upcoming Dividend • Oct 15
Upcoming dividend of LK₨15.00 per share Eligible shareholders must have bought the stock before 22 October 2021. Payment date: 29 October 2021. Trailing yield: 3.3%. Lower than top quartile of Sri Lankan dividend payers (5.6%). Lower than average of industry peers (5.1%). Executive Departure • Jun 10
Non-Executive Independent Director Gunaratnam Pathmaraj has left the company On the 31st of May, Gunaratnam Pathmaraj's tenure as Non-Executive Independent Director ended after 33.2 years in the role. As of March 2021, Gunaratnam still personally held only 9.69k shares (LK₨6.9m worth at the time). Gunaratnam is the only executive to leave the company over the last 12 months. Upcoming Dividend • Jun 05
Upcoming dividend of LK₨14.00 per share Eligible shareholders must have bought the stock before 11 June 2021. Payment date: 02 July 2021. Trailing yield: 3.6%. Lower than top quartile of Sri Lankan dividend payers (4.9%). Lower than average of industry peers (5.0%). Is New 90 Day High Low • Feb 25
New 90-day low: LK₨716 The company is down 16% from its price of LK₨851 on 27 November 2020. The Sri Lankan market is up 20% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 43% over the same period. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS LK₨66.74 (vs LK₨50.01 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: LK₨1.03b (up 7.4% from FY 2019). Net income: LK₨100.1m (up 34% from FY 2019). Profit margin: 9.8% (up from 7.8% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 32% per year. Is New 90 Day High Low • Jan 22
New 90-day high: LK₨990 The company is up 82% from its price of LK₨544 on 23 October 2020. The Sri Lankan market is up 40% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 84% over the same period. Valuation Update With 7 Day Price Move • Nov 18
Market bids up stock over the past week After last week's 17% share price gain to LK₨620, the stock is trading at a trailing P/E ratio of 9.4x, up from the previous P/E ratio of 8x. 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 64%. Is New 90 Day High Low • Nov 13
New 90-day high: LK₨572 The company is up 31% from its price of LK₨438 on 13 August 2020. The Sri Lankan market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 51% over the same period. Reported Earnings • Nov 04
Third quarter 2020 earnings released: EPS LK₨26.86 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: LK₨305.5m (up 36% from 3Q 2019). Net income: LK₨40.3m (up 138% from 3Q 2019). Profit margin: 13% (up from 7.6% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Sep 28
New 90-day high: LK₨567 The company is up 48% from its price of LK₨383 on 30 June 2020. The Sri Lankan market is up 14% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 50% over the same period. 
