Reported Earnings • Jun 02
Full year 2026 earnings released: LK₨0.19 loss per share (vs LK₨0.36 profit in FY 2025) Full year 2026 results: LK₨0.19 loss per share (down from LK₨0.36 profit in FY 2025). Revenue: LK₨195.1m (down 74% from FY 2025). Net loss: LK₨25.5m (down 153% from profit in FY 2025). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. New Risk • Jun 02
New major risk - Revenue size The company makes less than US$1m in revenue. Total revenue: LK₨195m (US$591k) This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Revenue is less than US$1m (LK₨195m revenue, or US$591k). Market cap is less than US$10m (LK₨1.24b market cap, or US$3.75m). Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to LK₨11.60, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 17x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 287% over the past three years. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to LK₨8.20, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 16x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 156% over the past three years. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to LK₨10.20, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 18x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 200% over the past three years. New Risk • Jan 14
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 6.3% 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 Risks Earnings have declined by 27% per year over the past 5 years. Market cap is less than US$10m (LK₨915.8m market cap, or US$2.96m). Minor Risks Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (LK₨759m revenue, or US$2.5m). Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨7.80, the stock trades at a trailing P/E ratio of 8.7x. Average trailing P/E is 18x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 129% over the past three years. New Risk • Nov 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 26% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 27% per year over the past 5 years. Market cap is less than US$10m (LK₨902.4m market cap, or US$2.94m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (LK₨759m revenue, or US$2.5m). Announcement • Sep 09
Millennium Housing Developers PLC, Annual General Meeting, Sep 30, 2025 Millennium Housing Developers PLC, Annual General Meeting, Sep 30, 2025, at 11:00 Sri Lanka Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released First quarter 2026 results: Revenue: LK₨81.8m (down 22% from 1Q 2025). Net income: LK₨114.0k (up LK₨28.9m from 1Q 2025). Profit margin: 0.1% (up from net loss in 1Q 2025). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improves as stock rises 33% After last week's 33% share price gain to LK₨6.10, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 12x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 154% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to LK₨5.30, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 10x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 112% over the past three years. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to LK₨4.80, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 10x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 71% over the past three years. Announcement • Jan 10
Millennium Housing Developers PLC Announces Change of Capacity of Director Millennium Housing Developers PLC informed that Mr. U.H.Palihakkara and Mr. Gihan De Zoysa who served as Independent Non-Executive Directors are re-designated as Non-Executive Directors of the Company with effect 1 January 2025 in terms of Rule 9.8.3 (v) of the Listing Rules, shall continue as Non-Executive Directors of the Company. Announcement • Sep 11
Millennium Housing Developers PLC, Annual General Meeting, Sep 30, 2024 Millennium Housing Developers PLC, Annual General Meeting, Sep 30, 2024, at 11:00 Sri Lanka Standard Time. Reported Earnings • Jun 04
Full year 2024 earnings released: LK₨1.10 loss per share (vs LK₨1.48 loss in FY 2023) Full year 2024 results: LK₨1.10 loss per share (improved from LK₨1.48 loss in FY 2023). Net loss: LK₨148.0m (loss narrowed 26% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 66 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 05
Third quarter 2024 earnings released: LK₨0.40 loss per share (vs LK₨0.47 loss in 3Q 2023) Third quarter 2024 results: LK₨0.40 loss per share (improved from LK₨0.47 loss in 3Q 2023). Net loss: LK₨54.1m (loss narrowed 15% from 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. New Risk • Feb 17
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 6.9% 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 Interest payments are not well covered by earnings (0.4x net interest cover). Share price has been highly volatile over the past 3 months (6.9% average weekly change). Earnings have declined by 28% per year over the past 5 years. Market cap is less than US$10m (LK₨417.5m market cap, or US$1.34m). Minor Risk Revenue is less than US$5m (LK₨443m revenue, or US$1.4m). Announcement • Jan 11
Millennium Housing Developers PLC Elects Saman Sri Lal as Director Millennium Housing Developers PLC announced at annual general meeting held on January 9, 2024, the shareholders elected Mr. Saman Sri Lal as a Director to the Board. Announcement • Dec 20
Millennium Housing Developers PLC, Annual General Meeting, Jan 09, 2024 Millennium Housing Developers PLC, Annual General Meeting, Jan 09, 2024, at 11:00 Indian Standard Time. Agenda: To consider and adopt the Annual report of the board and the statements of accounts for the year ended March 31, 2023; to re-elect as a Director Harshith Dharmadasa; to re-elect as a Director Saman Sri Lal; to authorize the Directors to detetrmine contributions to charities for the financial year 2023/2024; and to consider any other matters. Reported Earnings • Nov 17
Second quarter 2024 earnings released: EPS: LK₨0.17 (vs LK₨0.71 loss in 2Q 2023) Second quarter 2024 results: EPS: LK₨0.17 (up from LK₨0.71 loss in 2Q 2023). Revenue: LK₨87.7m (up 84% from 2Q 2023). Net income: LK₨23.3m (up LK₨119.3m from 2Q 2023). Profit margin: 27% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. 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. New Risk • Aug 17
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. 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 (9.2% average weekly change). Earnings have declined by 12% per year over the past 5 years. Market cap is less than US$10m (LK₨444.4m market cap, or US$1.38m). Minor Risk Revenue is less than US$5m (LK₨403m revenue, or US$1.3m). Reported Earnings • Aug 17
First quarter 2024 earnings released: LK₨0.58 loss per share (vs LK₨0.02 profit in 1Q 2023) First quarter 2024 results: LK₨0.58 loss per share (down from LK₨0.02 profit in 1Q 2023). Net loss: LK₨78.4m (down LK₨80.6m from profit in 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
Full year 2023 earnings released: LK₨1.26 loss per share (vs LK₨0.63 loss in FY 2022) Full year 2023 results: LK₨1.26 loss per share (further deteriorated from LK₨0.63 loss in FY 2022). Revenue: LK₨674.7m (up 44% from FY 2022). Net loss: LK₨169.5m (loss widened 100% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 88 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 16
Third quarter 2023 earnings released: LK₨0.47 loss per share (vs LK₨0.18 loss in 3Q 2022) Third quarter 2023 results: LK₨0.47 loss per share (further deteriorated from LK₨0.18 loss in 3Q 2022). Revenue: LK₨79.0m (up 20% from 3Q 2022). Net loss: LK₨63.5m (loss widened 165% from 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 17
First quarter 2023 earnings released: EPS: LK₨0.02 (vs LK₨0.38 loss in 1Q 2022) First quarter 2023 results: EPS: LK₨0.02 (up from LK₨0.38 loss in 1Q 2022). Revenue: LK₨271.9m (up LK₨235.2m from 1Q 2022). Net income: LK₨2.13m (up LK₨52.9m from 1Q 2022). Profit margin: 0.8% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Reported Earnings • Jun 02
Full year 2022 earnings released: LK₨0.72 loss per share (vs LK₨1.06 profit in FY 2021) Full year 2022 results: LK₨0.72 loss per share (down from LK₨1.06 profit in FY 2021). Revenue: LK₨467.5m (down 53% from FY 2021). Net loss: LK₨97.2m (down 168% from profit in 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 24% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • May 07
Investor sentiment deteriorated over the past week After last week's 22% share price decline to LK₨2.90, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 9x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 64% over the past three years. Board Change • Apr 27
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. 3 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Jayaprakash Rudra was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 09
Investor sentiment deteriorated over the past week After last week's 25% share price decline to LK₨4.50, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 12x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 31% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorated over the past week After last week's 19% share price decline to LK₨5.50, the stock trades at a trailing P/E ratio of 34.2x. Average trailing P/E is 15x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 26% over the past three years. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: LK₨0.18 loss per share (down from LK₨0.24 profit in 3Q 2021). Revenue: LK₨65.7m (down 79% from 3Q 2021). Net loss: LK₨24.0m (down 173% from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 18% share price decline to LK₨7.10, the stock trades at a trailing P/E ratio of 12.2x. Average trailing P/E is 14x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment improved over the past week After last week's 17% share price gain to LK₨6.30, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 12x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 27% over the past three years. Reported Earnings • Nov 17
Second quarter 2022 earnings released: EPS LK₨0.09 (vs LK₨0.47 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: LK₨179.8m (down 47% from 2Q 2021). Net income: LK₨11.8m (down 81% from 2Q 2021). Profit margin: 6.6% (down from 19% in 2Q 2021). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 18
First quarter 2022 earnings released: LK₨0.38 loss per share (vs LK₨0.28 loss in 1Q 2021) The company reported a solid first quarter result with improved revenues and control over costs, although losses increased. First quarter 2022 results: Revenue: LK₨36.7m (up 36% from 1Q 2021). Net loss: LK₨50.8m (loss widened 33% from 1Q 2021). Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 21% share price gain to LK₨7.00, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 11x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 27% over the past three years. Is New 90 Day High Low • Mar 05
New 90-day low: LK₨5.70 The company is down 17% from its price of LK₨6.90 on 04 December 2020. The Sri Lankan market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is down 5.0% over the same period. Reported Earnings • Feb 13
Third quarter 2021 earnings released: EPS LK₨0.24 (vs LK₨0.009 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: LK₨309.7m (up 107% from 3Q 2020). Net income: LK₨32.8m (up LK₨34.1m from 3Q 2020). Profit margin: 11% (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 increased by 55% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 03
New 90-day low: LK₨6.20 The company is down 6.0% from its price of LK₨6.60 on 05 November 2020. The Sri Lankan market is up 49% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 21% over the same period. Reported Earnings • Nov 17
Second quarter 2021 earnings released: EPS LK₨0.47 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: LK₨336.5m (up 4.9% from 2Q 2020). Net income: LK₨63.4m (up 75% from 2Q 2020). Profit margin: 19% (up from 11% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 12
Market bids up stock over the past week After last week's 19% share price gain to LK₨7.50, the stock is trading at a trailing P/E ratio of 10.3x, up from the previous P/E ratio of 8.6x. This compares to an average P/E of 10x in the Real Estate industry in Sri Lanka. Total return to shareholders over the past three years is a loss of 41%. Is New 90 Day High Low • Oct 12
New 90-day high: LK₨7.50 The company is up 47% from its price of LK₨5.10 on 14 July 2020. The Sri Lankan market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 12% over the same period. Announcement • Sep 17
Millennium Housing Developers PLC Announces Cessation of Hettiaratchige Jayantha Christopher and Rajiv Perera as Directors of the Company Millennium Housing Developers PLC has announced cessation of Hettiaratchige Jayantha Christopher and Rajiv Perera as directors of the company w.e.f. 15th September 2020 due to their health conditions.