Reported Earnings • Jun 02
Full year 2026 earnings released: LK₨50.00 loss per share (vs LK₨0.98 loss in FY 2025) Full year 2026 results: LK₨50.00 loss per share. Revenue: LK₨2.71b (down 3.3% from FY 2025). Net loss: LK₨5.45m (loss narrowed 95% from FY 2025). New Risk • Jan 11
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 7.2% 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 31% per year over the past 5 years. Market cap is less than US$10m (LK₨1.39b market cap, or US$4.50m). Minor Risk Share price has been volatile over the past 3 months (7.2% average weekly change). Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: LK₨0.44 (vs LK₨0.086 in 2Q 2025) Second quarter 2026 results: EPS: LK₨0.44 (up from LK₨0.086 in 2Q 2025). Revenue: LK₨948.1m (up 72% from 2Q 2025). Net income: LK₨51.9m (up 464% from 2Q 2025). Profit margin: 5.5% (up from 1.7% in 2Q 2025). The increase in margin was 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 133 percentage points per year, which is a significant difference in performance. New Risk • Nov 07
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 Risks Earnings have declined by 22% per year over the past 5 years. Market cap is less than US$10m (LK₨1.29b market cap, or US$4.23m). Minor Risk Share price has been volatile over the past 3 months (7.8% average weekly change). Announcement • Sep 09
Eastern Merchants PLC, Annual General Meeting, Sep 30, 2025 Eastern Merchants PLC, Annual General Meeting, Sep 30, 2025, at 14:30 Sri Lanka Standard Time. Location: no. 240, torrington avenue, colombo 07 Sri Lanka Reported Earnings • Aug 16
First quarter 2026 earnings released: LK₨0.16 loss per share (vs LK₨0.57 loss in 1Q 2025) First quarter 2026 results: LK₨0.16 loss per share (improved from LK₨0.57 loss in 1Q 2025). Revenue: LK₨565.4m (down 6.9% from 1Q 2025). Net loss: LK₨18.9m (loss narrowed 74% from 1Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 122 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 02
Full year 2025 earnings released: LK₨1.33 loss per share (vs LK₨0.14 profit in FY 2024) Full year 2025 results: LK₨1.33 loss per share (down from LK₨0.14 profit in FY 2024). Revenue: LK₨2.81b (up 4.7% from FY 2024). Net loss: LK₨155.8m (down LK₨173.6m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. New Risk • Apr 21
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 6.5% 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 0.5% per year over the past 5 years. Market cap is less than US$10m (LK₨813.8m market cap, or US$2.72m). Minor Risk Share price has been volatile over the past 3 months (6.5% average weekly change). Reported Earnings • Feb 15
Third quarter 2025 earnings released: LK₨0.58 loss per share (vs LK₨0.003 profit in 3Q 2024) Third quarter 2025 results: LK₨0.58 loss per share (down from LK₨0.003 profit in 3Q 2024). Revenue: LK₨870.6m (up 35% from 3Q 2024). Net loss: LK₨68.1m (down LK₨68.5m from profit in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 97 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Second quarter 2025 earnings released: LK₨0.04 loss per share (vs LK₨0.30 profit in 2Q 2024) Second quarter 2025 results: LK₨0.04 loss per share (down from LK₨0.30 profit in 2Q 2024). Revenue: LK₨845.2m (up 23% from 2Q 2024). Net loss: LK₨4.20m (down 111% from profit in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Announcement • Oct 15
Eastern Merchants PLC Approves Constitution of Sub Committees Eastern Merchants PLC announced that the constitution of the following sub committees with effect from 14 October, 2024 as approved by the Board on 14 October, 2024. Nomination and Governance Committee: Mrs. N. Nanayakkara independent Non-Executive Director - Chairman; Fazal Mushin independent Non-Executive Director - Member; Rohith Pradeep independent Non-Executive Director - Member; Remuneration Committee: Fazal Mushin Independent Non-Executive Director - Chairman; Rohith Pradeep independent Non-Executive Director - Member; Mrs. N. Nanayakkara Independent Non-Executive Director - Member. Announcement • Aug 22
Eastern Merchants PLC, Annual General Meeting, Sep 27, 2024 Eastern Merchants PLC, Annual General Meeting, Sep 27, 2024, at 14:30 Sri Lanka Standard Time. Location: head office 240, torrington avenue, colombo 07, Sri Lanka Reported Earnings • Aug 15
First quarter 2025 earnings released: LK₨0.62 loss per share (vs LK₨0.24 loss in 1Q 2024) First quarter 2025 results: LK₨0.62 loss per share (further deteriorated from LK₨0.24 loss in 1Q 2024). Revenue: LK₨629.2m (up 17% from 1Q 2024). Net loss: LK₨73.1m (loss widened 136% from 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. New Risk • Jun 14
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 6.8% 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 (6.8% average weekly change). Market cap is less than US$10m (LK₨849.5m market cap, or US$2.80m). Minor Risk Profit margins are more than 30% lower than last year (0.1% net profit margin). Reported Earnings • May 30
Full year 2024 earnings released: EPS: LK₨0.03 (vs LK₨0.63 in FY 2023) Full year 2024 results: EPS: LK₨0.03 (down from LK₨0.63 in FY 2023). Revenue: LK₨2.70b (flat on FY 2023). Net income: LK₨3.97m (down 95% from FY 2023). Profit margin: 0.1% (down from 2.7% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: LK₨0.003 (vs LK₨0.09 in 3Q 2023) Third quarter 2024 results: EPS: LK₨0.003 (down from LK₨0.09 in 3Q 2023). Revenue: LK₨645.9m (down 6.7% from 3Q 2023). Net income: LK₨434.0k (down 96% from 3Q 2023). Profit margin: 0.1% (down from 1.5% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 2% per year. New Risk • Dec 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Sri Lankan stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (LK₨782.4m market cap, or US$2.40m). Minor Risk Share price has been volatile over the past 3 months (5.4% average weekly change). Reported Earnings • Nov 16
Second quarter 2024 earnings released: EPS: LK₨0.33 (vs LK₨0.58 in 2Q 2023) Second quarter 2024 results: EPS: LK₨0.33 (down from LK₨0.58 in 2Q 2023). Revenue: LK₨720.1m (down 18% from 2Q 2023). Net income: LK₨38.4m (down 45% from 2Q 2023). Profit margin: 5.3% (down from 8.0% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Sep 09
Eastern Merchants PLC, Annual General Meeting, Sep 27, 2023 Eastern Merchants PLC, Annual General Meeting, Sep 27, 2023, at 11:30 Sri Lanka Standard Time. Reported Earnings • Aug 17
First quarter 2024 earnings released: LK₨0.26 loss per share (vs LK₨0.91 profit in 1Q 2023) First quarter 2024 results: LK₨0.26 loss per share (down from LK₨0.91 profit in 1Q 2023). Revenue: LK₨549.2m (down 23% from 1Q 2023). Net loss: LK₨30.9m (down 129% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. New Risk • Jun 08
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 6.7% 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₨938.9m market cap, or US$3.18m). Minor Risks Share price has been volatile over the past 3 months (6.7% average weekly change). Profit margins are more than 30% lower than last year (4.5% net profit margin). Reported Earnings • Jun 02
Full year 2023 earnings released: EPS: LK₨1.06 (vs LK₨5.59 in FY 2022) Full year 2023 results: EPS: LK₨1.06 (down from LK₨5.59 in FY 2022). Revenue: LK₨2.80b (down 17% from FY 2022). Net income: LK₨124.7m (down 81% from FY 2022). Profit margin: 4.5% (down from 20% in FY 2022). Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: LK₨0.09 (vs LK₨1.08 in 3Q 2022) Third quarter 2023 results: EPS: LK₨0.09 (down from LK₨1.08 in 3Q 2022). Revenue: LK₨692.4m (down 39% from 3Q 2022). Net income: LK₨10.2m (down 92% from 3Q 2022). Profit margin: 1.5% (down from 11% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Nishoka Nanayakkara was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Sep 26
Upcoming dividend of LK₨0.15 per share Eligible shareholders must have bought the stock before 03 October 2022. Payment date: 25 October 2022. Trailing yield: 1.2%. Lower than top quartile of Sri Lankan dividend payers (7.5%). Lower than average of industry peers (4.6%). Announcement • Sep 07
Eastern Merchants PLC, Annual General Meeting, Sep 30, 2022 Eastern Merchants PLC, Annual General Meeting, Sep 30, 2022. Reported Earnings • Aug 20
First quarter 2023 earnings released: EPS: LK₨0.87 (vs LK₨0.039 in 1Q 2022) First quarter 2023 results: EPS: LK₨0.87 (up from LK₨0.039 in 1Q 2022). Revenue: LK₨722.7m (up 59% from 1Q 2022). Net income: LK₨102.6m (up LK₨98.1m from 1Q 2022). Profit margin: 14% (up from 1.0% 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 117% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 02
Full year 2022 earnings released: EPS: LK₨6.61 (vs LK₨0.074 in FY 2021) Full year 2022 results: EPS: LK₨6.61 (up from LK₨0.074 in FY 2021). Revenue: LK₨3.64b (up 79% from FY 2021). Net income: LK₨776.1m (up LK₨767.4m from FY 2021). Profit margin: 21% (up from 0.4% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 19% share price gain to LK₨6.30, the stock trades at a trailing P/E ratio of 7.3x. Average trailing P/E is 7x in the Retail Distributors industry in Sri Lanka. Total returns to shareholders of 80% over the past three years. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 17% share price decline to LK₨5.00, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 7x in the Retail Distributors industry in Sri Lanka. Total returns to shareholders of 32% over the past three years. 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. 4 experienced directors. 3 highly experienced directors. 3 independent directors (4 non-independent directors). Non-Executive Independent Director Nishoka Nanayakkara was the last independent director to join the board, commencing their role in 2018. 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 • Mar 30
Investor sentiment deteriorated over the past week After last week's 21% share price decline to LK₨5.70, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 8x in the Retail Distributors industry in Sri Lanka. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorated over the past week After last week's 21% share price decline to LK₨7.00, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 9x in the Retail Distributors industry in Sri Lanka. Total returns to shareholders of 89% over the past three years. Reported Earnings • Feb 18
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: LK₨1.08 (up from LK₨0.081 in 3Q 2021). Revenue: LK₨1.13b (up 121% from 3Q 2021). Net income: LK₨127.2m (up LK₨118.3m from 3Q 2021). Profit margin: 11% (up from 1.8% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Reported Earnings • Nov 19
Second quarter 2022 earnings released The company reported a decent second quarter result with improved revenues, although earnings and profit margins were weaker. Second quarter 2022 results: Revenue: LK₨953.1m (up 110% from 2Q 2021). Net income: LK₨6.86m (down 78% from 2Q 2021). Profit margin: 0.7% (down from 7.0% in 2Q 2021). 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. Valuation Update With 7 Day Price Move • Sep 28
Investor sentiment improved over the past week After last week's 15% share price gain to LK₨7.60, the stock trades at a trailing P/E ratio of 18x. Average trailing P/E is 17x in the Retail Distributors industry in Sri Lanka. Total returns to shareholders of 58% over the past three years. Reported Earnings • Aug 22
First quarter 2022 earnings released: EPS LK₨0.04 (vs LK₨0.088 in 1Q 2021) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: LK₨463.4m (up 31% from 1Q 2021). Net income: LK₨4.50m (down 56% from 1Q 2021). Profit margin: 1.0% (down from 2.9% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improved over the past week After last week's 22% share price gain to LK₨7.80, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 14x in the Retail Distributors industry in Sri Lanka. Total returns to shareholders of 95% over the past three years. Is New 90 Day High Low • Feb 17
New 90-day low: LK₨5.70 The company is down 21% from its price of LK₨7.20 on 19 November 2020. The Sri Lankan market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Retail Distributors industry, which is up 4.0% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS LK₨0.081 (vs LK₨0.08 in 3Q 2020) The company reported a mediocre third quarter result with weaker revenues, although earnings were flat and profit margins improved. Third quarter 2021 results: Revenue: LK₨511.6m (down 14% from 3Q 2020). Net income: LK₨8.96m (flat on 3Q 2020). Profit margin: 1.8% (up from 1.5% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 27
New 90-day low: LK₨6.90 The company is down 9.0% from its price of LK₨7.60 on 29 October 2020. The Sri Lankan market is up 55% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Retail Distributors industry, which is up 30% over the same period. Reported Earnings • Nov 12
Second quarter 2021 earnings released: EPS LK₨0.27 The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: LK₨475.3m (down 38% from 2Q 2020). Net income: LK₨31.9m (up LK₨35.1m from 2Q 2020). Profit margin: 6.7% (up from net loss in 2Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 3% per year. Is New 90 Day High Low • Sep 30
New 90-day high: LK₨7.40 The company is up 95% from its price of LK₨3.80 on 02 July 2020. The Sri Lankan market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 25% over the same period. Reported Earnings • Sep 25
First quarter earnings released Over the last 12 months the company has reported total losses of LK₨19.4m, with earnings decreasing by LK₨170.0m from the prior year. Total revenue was LK₨2.25b over the last 12 months, up 28% from the prior year. 
