New Risk • Apr 10
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 2,882% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 61% per year over the past 5 years. High level of non-cash earnings (2,882% accrual ratio). Revenue is less than US$1m (LK₨62m revenue, or US$196k). Market cap is less than US$10m (LK₨822.9m market cap, or US$2.61m). Recent Insider Transactions • Sep 10
Executive Non-Independent Director recently sold LK₨61m worth of stock On the 4th of September, D. Iresha Dissanayake sold around 7m shares on-market at roughly LK₨8.50 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨64m more than they bought in the last 12 months. Announcement • Aug 26
Myland Developments PLC, Annual General Meeting, Sep 25, 2025 Myland Developments PLC, Annual General Meeting, Sep 25, 2025, at 15:00 Sri Lanka Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: LK₨0.05 loss per share (vs LK₨0.15 loss in 1Q 2025) First quarter 2026 results: LK₨0.05 loss per share (improved from LK₨0.15 loss in 1Q 2025). Revenue: LK₨14.5m (up 72% from 1Q 2025). Net loss: LK₨1.91m (loss narrowed 66% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
Full year 2025 earnings released: LK₨0.12 loss per share (vs LK₨0.75 loss in FY 2024) Full year 2025 results: LK₨0.12 loss per share (improved from LK₨0.75 loss in FY 2024). Revenue: LK₨48.9m (down 31% from FY 2024). Net loss: LK₨19.9m (loss narrowed 27% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Feb 20
Executive Non-Independent Director recently sold LK₨2.7m worth of stock On the 14th of February, D. Iresha Dissanayake sold around 301k shares on-market at roughly LK₨9.10 per share. This transaction amounted to 4.0% of their direct individual holding at the time of the trade. 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. Reported Earnings • Feb 16
Third quarter 2025 earnings released: LK₨0.11 loss per share (vs LK₨0.22 loss in 3Q 2024) Third quarter 2025 results: LK₨0.11 loss per share (improved from LK₨0.22 loss in 3Q 2024). Revenue: LK₨12.2m (down 25% from 3Q 2024). Net loss: LK₨4.06m (loss narrowed 50% from 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Second quarter 2025 earnings released: LK₨0.15 loss per share (vs LK₨0.22 loss in 2Q 2024) Second quarter 2025 results: LK₨0.15 loss per share (improved from LK₨0.22 loss in 2Q 2024). Revenue: LK₨14.1m (down 14% from 2Q 2024). Net loss: LK₨5.49m (loss narrowed 31% from 2Q 2024). Reported Earnings • Aug 15
First quarter 2025 earnings released: LK₨0.15 loss per share (vs LK₨0.068 loss in 1Q 2024) First quarter 2025 results: LK₨0.15 loss per share (further deteriorated from LK₨0.068 loss in 1Q 2024). Revenue: LK₨8.48m (down 62% from 1Q 2024). Net loss: LK₨5.55m (loss widened 124% from 1Q 2024). Announcement • Aug 08
Myland Developments PLC, Annual General Meeting, Aug 29, 2024 Myland Developments PLC, Annual General Meeting, Aug 29, 2024, at 15:00 Sri Lanka Standard Time. Board Change • Aug 01
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. 5 experienced directors. No highly experienced directors. Non-Executive Independent Chairman Wickramasinghearachchige Premachandra was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 30
Full year 2024 earnings released: LK₨0.75 loss per share (vs LK₨0.31 loss in FY 2023) Full year 2024 results: LK₨0.75 loss per share (further deteriorated from LK₨0.31 loss in FY 2023). Revenue: LK₨70.4m (up 6.0% from FY 2023). Net loss: LK₨27.3m (loss widened 144% from FY 2023). New Risk • Feb 14
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (12% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 65% per year over the past 5 years. Revenue is less than US$1m (LK₨70m revenue, or US$222k). Market cap is less than US$10m (LK₨326.3m market cap, or US$1.04m). Reported Earnings • Feb 14
Third quarter 2024 earnings released: LK₨0.22 loss per share (vs LK₨0.099 loss in 3Q 2023) Third quarter 2024 results: LK₨0.22 loss per share (further deteriorated from LK₨0.099 loss in 3Q 2023). Revenue: LK₨16.1m (down 16% from 3Q 2023). Net loss: LK₨8.07m (loss widened 125% from 3Q 2023). Reported Earnings • Nov 17
Second quarter 2024 earnings released: LK₨0.22 loss per share (vs LK₨0.011 loss in 2Q 2023) Second quarter 2024 results: LK₨0.22 loss per share (further deteriorated from LK₨0.011 loss in 2Q 2023). Revenue: LK₨16.4m (down 2.8% from 2Q 2023). Net loss: LK₨7.90m (loss widened LK₨7.50m from 2Q 2023). Announcement • Sep 02
Myland Developments PLC, Annual General Meeting, Sep 21, 2023 Myland Developments PLC, Annual General Meeting, Sep 21, 2023, at 15:00 Sri Lanka Standard Time. Agenda: To receive and consider the Audited Financial Statements for the year ended 31st March 2023 and the reports of the auditors and of the directors thereon; to consider Re.election of directors; to re-appoint M/s RKLS Associate, Chartered Accountants, who are deemed to be re- appointed as auditors until the conclusion of the next annual general meeting of the company in terms of section 158(1) of the Company Act No. 07 of 2007, to audit the Financial Statements of the Company for the financial year ending 31st March 2024 and to authorize the directors to determine their remuneration therefore; to authorize the Directors to determine contributions to charities and other donations. Reported Earnings • Aug 08
First quarter 2024 earnings released: LK₨0.07 loss per share (vs LK₨0.063 loss in 1Q 2023) First quarter 2024 results: LK₨0.07 loss per share (further deteriorated from LK₨0.063 loss in 1Q 2023). Revenue: LK₨22.3m (up 44% from 1Q 2023). Net loss: LK₨2.48m (loss widened 8.1% from 1Q 2023). New Risk • Aug 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 8.4% 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 (8.4% average weekly change). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Revenue has declined by 73% over the past year. Revenue is less than US$1m (LK₨66m revenue, or US$207k). Market cap is less than US$10m (LK₨362.5m market cap, or US$1.13m). Reported Earnings • Jun 03
Full year 2023 earnings released: LK₨0.31 loss per share (vs LK₨1.49 profit in FY 2022) Full year 2023 results: LK₨0.31 loss per share (down from LK₨1.49 profit in FY 2022). Revenue: LK₨66.4m (down 73% from FY 2022). Net loss: LK₨11.2m (down 125% from profit in FY 2022). Reported Earnings • Feb 16
Third quarter 2023 earnings released: LK₨0.099 loss per share (vs LK₨0.14 profit in 3Q 2022) Third quarter 2023 results: LK₨0.099 loss per share (down from LK₨0.14 profit in 3Q 2022). Revenue: LK₨19.3m (down 59% from 3Q 2022). Net loss: LK₨3.59m (down 171% from profit in 3Q 2022). Reported Earnings • Nov 20
Second quarter 2023 earnings released: LK₨0.01 loss per share (vs LK₨0.40 profit in 2Q 2022) Second quarter 2023 results: LK₨0.01 loss per share (down from LK₨0.40 profit in 2Q 2022). Revenue: LK₨16.9m (down 83% from 2Q 2022). Net loss: LK₨393.9k (down 103% from profit in 2Q 2022). Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorated over the past week After last week's 17% share price decline to LK₨8.30, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 8x in the Real Estate industry in Sri Lanka. Announcement • Sep 03
Myland Developments PLC Proposes Final Dividend for the Financial Year Ended March 31, 2022 Myland Developments PLC at its 1st Annual General Meeting to be held on September 22, 2022 proposed to declare a final dividend of Cents Twenty Five (LKR 0.25) per share for the financial year ended March 31, 2022, as recommended by the directors. Valuation Update With 7 Day Price Move • Aug 23
Investor sentiment improved over the past week After last week's 17% share price gain to LK₨12.70, the stock trades at a trailing P/E ratio of 12.9x. Average trailing P/E is 7x in the Real Estate industry in Sri Lanka. Reported Earnings • Aug 19
First quarter 2023 earnings released: LK₨0.06 loss per share (vs LK₨0.18 profit in 1Q 2022) First quarter 2023 results: LK₨0.06 loss per share (down from LK₨0.18 profit in 1Q 2022). Revenue: LK₨15.5m (down 15% from 1Q 2022). Net loss: LK₨2.29m (down 135% from profit in 1Q 2022). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨11.00, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 7x in the Real Estate industry in Sri Lanka. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 17% share price gain to LK₨11.00, the stock trades at a trailing P/E ratio of 9x. Average trailing P/E is 7x in the Real Estate industry in Sri Lanka. Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment deteriorated over the past week After last week's 22% share price decline to LK₨9.00, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 7x in the Real Estate industry in Sri Lanka. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: LK₨1.48 (vs LK₨1.03 in FY 2021) Full year 2022 results: EPS: LK₨1.48 (up from LK₨1.03 in FY 2021). Revenue: LK₨249.6m (up 49% from FY 2021). Net income: LK₨44.4m (up 72% from FY 2021). Profit margin: 18% (up from 15% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improved over the past week After last week's 19% share price gain to LK₨11.30, the stock trades at a trailing P/E ratio of 7.9x. Average trailing P/E is 9x in the Real Estate industry in Sri Lanka. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment deteriorated over the past week After last week's 16% share price decline to LK₨11.40, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 11x in the Real Estate industry in Sri Lanka. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to LK₨13.20, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 12x in the Real Estate industry in Sri Lanka. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 25% share price decline to LK₨14.10, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 12x in the Real Estate industry in Sri Lanka. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorated over the past week After last week's 15% share price decline to LK₨20.10, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 15x in the Real Estate industry in Sri Lanka. Reported Earnings • Feb 13
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: LK₨0.17 (down from LK₨0.46 in 3Q 2021). Revenue: LK₨46.5m (up 13% from 3Q 2021). Net income: LK₨5.07m (down 46% from 3Q 2021). Profit margin: 11% (down from 23% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨24.60, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 13x in the Real Estate industry in Sri Lanka. Announcement • Dec 29
Myland Developments Limited has completed an IPO in the amount of LKR 75 million. Myland Developments Limited has completed an IPO in the amount of LKR 75 million.
Security Name: Ordinary Voting Shares
Security Type: Common Stock
Securities Offered: 6,250,000
Price\Range: LKR 12
Discount Per Security: LKR 0.06 
