Reported Earnings • May 22
Full year 2026 earnings released: EPS: LK₨0.41 (vs LK₨0.50 in FY 2025) Full year 2026 results: EPS: LK₨0.41 (down from LK₨0.50 in FY 2025). Revenue: LK₨1.01b (down 19% from FY 2025). Net income: LK₨177.5m (down 17% from FY 2025). Profit margin: 18% (in line with FY 2025). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 56% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨11.00, the stock trades at a trailing P/E ratio of 32.4x. Average trailing P/E is 22x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 432% over the past three years. New Risk • Nov 17
New major risk - Revenue and earnings growth Earnings have declined by 3.9% 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 Interest payments are not well covered by earnings (1.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Paying a dividend despite having no free cash flows. Earnings have declined by 3.9% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (12% net profit margin). Revenue is less than US$5m (LK₨1.3b revenue, or US$4.1m). Market cap is less than US$100m (LK₨4.05b market cap, or US$13.2m). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: LK₨0.37 (vs LK₨0.74 in 2Q 2025) Second quarter 2026 results: EPS: LK₨0.37 (down from LK₨0.74 in 2Q 2025). Revenue: LK₨223.2m (down 10% from 2Q 2025). Net income: LK₨31.9m (down 50% from 2Q 2025). Profit margin: 14% (down from 26% in 2Q 2025). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 60% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨42.60, the stock trades at a trailing P/E ratio of 20.6x. Average trailing P/E is 18x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 228% over the past three years. Upcoming Dividend • Aug 12
Upcoming dividend of LK₨0.75 per share Eligible shareholders must have bought the stock before 19 August 2025. Payment date: 08 September 2025. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of Sri Lankan dividend payers (4.8%). Lower than average of industry peers (3.6%). Announcement • Aug 04
Resus Energy PLC, Annual General Meeting, Aug 25, 2025 Resus Energy PLC, Annual General Meeting, Aug 25, 2025, at 16:00 Sri Lanka Standard Time. Location: development holdings private limited, 40, nawam mawatha, colombo Sri Lanka Reported Earnings • Jun 02
Full year 2025 earnings released: EPS: LK₨2.48 (vs LK₨4.34 in FY 2024) Full year 2025 results: EPS: LK₨2.48 (down from LK₨4.34 in FY 2024). Revenue: LK₨1.24b (up 11% from FY 2024). Net income: LK₨214.1m (down 43% from FY 2024). Profit margin: 17% (down from 33% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: LK₨0.50 (vs LK₨1.77 in 3Q 2024) Third quarter 2025 results: EPS: LK₨0.50 (down from LK₨1.77 in 3Q 2024). Revenue: LK₨315.8m (down 9.2% from 3Q 2024). Net income: LK₨42.8m (down 72% from 3Q 2024). Profit margin: 14% (down from 44% in 3Q 2024). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Declared Dividend • Nov 21
Dividend of LK₨1.00 announced Shareholders will receive a dividend of LK₨1.00. Ex-date: 28th November 2024 Payment date: 17th December 2024 Dividend yield will be 3.7%, which is lower than the industry average of 8.8%. Sustainability & Growth Dividend is covered by both earnings (33% earnings payout ratio) and cash flows (51% 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 64% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 07
Second quarter 2025 earnings released: EPS: LK₨0.74 (vs LK₨0.20 in 2Q 2024) Second quarter 2025 results: EPS: LK₨0.74 (up from LK₨0.20 in 2Q 2024). Revenue: LK₨248.9m (up 19% from 2Q 2024). Net income: LK₨63.8m (up 279% from 2Q 2024). Profit margin: 26% (up from 8.0% in 2Q 2024). The increase in margin was primarily driven by higher 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 3% per year. Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨28.20, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 10x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 30% over the past three years. Reported Earnings • Aug 11
First quarter 2025 earnings released: EPS: LK₨1.67 (vs LK₨0.25 loss in 1Q 2024) First quarter 2025 results: EPS: LK₨1.67 (up from LK₨0.25 loss in 1Q 2024). Revenue: LK₨323.3m (up 70% from 1Q 2024). Net income: LK₨143.7m (up LK₨165.2m from 1Q 2024). Profit margin: 44% (up from net loss in 1Q 2024). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% 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. Announcement • Jun 08
Resus Energy PLC, Annual General Meeting, Jun 28, 2024 Resus Energy PLC, Annual General Meeting, Jun 28, 2024, at 16:45 Sri Lanka Standard Time. Location: development holdings private limited, no. 42, nawam mawatha, colombo 2., Sri Lanka Valuation Update With 7 Day Price Move • May 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨23.10, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 9x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 15% over the past three years. Reported Earnings • May 16
Full year 2024 earnings released: EPS: LK₨4.36 (vs LK₨4.80 in FY 2023) Full year 2024 results: EPS: LK₨4.36 (down from LK₨4.80 in FY 2023). Revenue: LK₨1.12b (up 12% from FY 2023). Net income: LK₨376.0m (down 9.0% from FY 2023). Profit margin: 34% (down from 42% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨21.30, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 7x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 8.1% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨17.40, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 7x in the Renewable Energy industry in Sri Lanka. Total loss to shareholders of 11% over the past three years. Board Change • Mar 07
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. 1 experienced director. 5 highly experienced directors. Independent Non-Executive Director Deshini Abeyewardena was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: LK₨1.77 (vs LK₨1.00 in 3Q 2023) Third quarter 2024 results: EPS: LK₨1.77 (up from LK₨1.00 in 3Q 2023). Revenue: LK₨347.7m (up 20% from 3Q 2023). Net income: LK₨152.4m (up 76% from 3Q 2023). Profit margin: 44% (up from 30% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 14% per year. Upcoming Dividend • Dec 04
Upcoming dividend of LK₨1.25 per share at 3.2% yield Eligible shareholders must have bought the stock before 11 December 2023. Payment date: 03 January 2024. Trailing yield: 3.2%. Lower than top quartile of Sri Lankan dividend payers (8.1%). Lower than average of industry peers (7.3%). Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: LK₨0.20 (vs LK₨0.78 in 2Q 2023) Second quarter 2024 results: EPS: LK₨0.20 (down from LK₨0.78 in 2Q 2023). Revenue: LK₨209.2m (down 21% from 2Q 2023). Net income: LK₨16.8m (down 75% from 2Q 2023). Profit margin: 8.0% (down from 25% in 2Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Announcement • Sep 02
Resus Energy PLC, Annual General Meeting, Sep 22, 2023 Resus Energy PLC, Annual General Meeting, Sep 22, 2023, at 16:30 Sri Lanka Standard Time. Location: auditorium of the Development Holidays Private Limited, 3rd Floor, No 42, Nawam Mawatha, Colombo 02 Sri Lanka Agenda: To receive and consider Reports of the Directors, the Statements of Accounts of the Company and the Group for the year ended 31st March 2023, together with the report of the Auditors thereon; to re-elect Mr. U.P. Egalahewa, Director, retiring by rotation in terms of Article 24(6) of the Articles of Association of the Company; to re-elect Mr. G.A.K. Nanayakkara, Director, retiring by rotation in terms of Article 24(6) of the Articles of Association of the Company; to re-elect Ms. D.C. Abeywardena, Director, retiring by rotation in terms of Article 24(6) of the Articles of Association of the Company; to re-appoint Messrs Ernst & Young, Chartered Accountants, as Auditors of the Company and to authorize the Directors to determine their remuneration; and to consider other matters. Reported Earnings • Aug 17
First quarter 2024 earnings released: LK₨0.25 loss per share (vs LK₨0.82 profit in 1Q 2023) First quarter 2024 results: LK₨0.25 loss per share (down from LK₨0.82 profit in 1Q 2023). Revenue: LK₨190.3m (down 16% from 1Q 2023). Net loss: LK₨21.5m (down 130% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 15% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨14.80, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 9x in the Renewable Energy industry in Sri Lanka. Total loss to shareholders of 26% over the past three years. Reported Earnings • May 19
Full year 2023 earnings released: EPS: LK₨2.69 (vs LK₨5.49 in FY 2022) Full year 2023 results: EPS: LK₨2.69 (down from LK₨5.49 in FY 2022). Revenue: LK₨991.8m (up 18% from FY 2022). Net income: LK₨231.6m (down 51% from FY 2022). Profit margin: 23% (down from 56% in FY 2022). The decrease in margin was driven by higher expenses. 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 11% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: LK₨1.00 (vs LK₨2.15 in 3Q 2022) Third quarter 2023 results: EPS: LK₨1.00 (down from LK₨2.15 in 3Q 2022). Revenue: LK₨289.9m (down 2.5% from 3Q 2022). Net income: LK₨86.4m (down 53% from 3Q 2022). Profit margin: 30% (down from 62% in 3Q 2022). The decrease in margin was primarily 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 fallen by 15% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: LK₨0.78 (vs LK₨1.38 in 2Q 2022) Second quarter 2023 results: EPS: LK₨0.78 (down from LK₨1.38 in 2Q 2022). Revenue: LK₨264.4m (up 17% from 2Q 2022). Net income: LK₨67.0m (down 43% from 2Q 2022). Profit margin: 25% (down from 53% 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 39% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 06
Upcoming dividend of LK₨0.55 per share Eligible shareholders must have bought the stock before 13 September 2022. Payment date: 30 September 2022. Trailing yield: 8.9%. Within top quartile of Sri Lankan dividend payers (8.0%). Higher than average of industry peers (7.7%). Reported Earnings • Aug 20
First quarter 2023 earnings released: EPS: LK₨0.89 (vs LK₨1.44 in 1Q 2022) First quarter 2023 results: EPS: LK₨0.89 (down from LK₨1.44 in 1Q 2022). Revenue: LK₨226.5m (up 9.0% from 1Q 2022). Net income: LK₨70.6m (down 38% from 1Q 2022). Profit margin: 31% (down from 55% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 28
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨14.40, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 7x in the Renewable Energy industry in Sri Lanka. Total loss to shareholders of 33% over the past three years. Valuation Update With 7 Day Price Move • Jun 14
Investor sentiment improved over the past week After last week's 19% share price gain to LK₨13.30, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 7x in the Renewable Energy industry in Sri Lanka. Total loss to shareholders of 31% over the past three years. Reported Earnings • Jun 02
Full year 2022 earnings released: EPS: LK₨5.69 (vs LK₨4.18 in FY 2021) Full year 2022 results: EPS: LK₨5.69 (up from LK₨4.18 in FY 2021). Revenue: LK₨830.6m (up 25% from FY 2021). Net income: LK₨449.6m (up 36% from FY 2021). Profit margin: 54% (up from 50% 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 53% 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 • Apr 29
Investor sentiment deteriorated over the past week After last week's 19% share price decline to LK₨14.00, the stock trades at a trailing P/E ratio of 2.2x. Average trailing P/E is 8x in the Renewable Energy industry in Sri Lanka. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment deteriorated over the past week After last week's 22% share price decline to LK₨19.00, the stock trades at a trailing P/E ratio of 3.1x. Average trailing P/E is 8x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 4.7% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorated over the past week After last week's 18% share price decline to LK₨26.00, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 9x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 43% over the past three years. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: LK₨2.34 (up from LK₨1.78 in 3Q 2021). Revenue: LK₨297.2m (up 28% from 3Q 2021). Net income: LK₨185.2m (up 32% from 3Q 2021). Profit margin: 62% (up from 61% 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 increased by 51% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨39.30, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 10x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 167% 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 23% share price gain to LK₨35.00, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 9x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 142% over the past three years. Recent Insider Transactions • Nov 22
Independent Non-Executive Director recently bought LK₨476k worth of stock On the 15th of November, Deshini Abeyewardena bought around 17k shares on-market at roughly LK₨27.99 per share. 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 07
Second quarter 2022 earnings released: EPS LK₨1.50 (vs LK₨1.33 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: LK₨225.6m (up 19% from 2Q 2021). Net income: LK₨118.4m (up 13% from 2Q 2021). Profit margin: 53% (down from 55% 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 45% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 15
First quarter 2022 earnings released: EPS LK₨1.44 (vs LK₨0.18 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: LK₨207.8m (up 97% from 1Q 2021). Net income: LK₨114.0m (up LK₨102.8m from 1Q 2021). Profit margin: 55% (up from 11% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 25
New 90-day low: LK₨24.10 The company is down 11% from its price of LK₨27.00 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 Renewable Energy industry, which is down 5.0% over the same period. Reported Earnings • Feb 03
Third quarter 2021 earnings released: EPS LK₨1.78 (vs LK₨2.86 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: LK₨231.5m (down 17% from 3Q 2020). Net income: LK₨140.3m (down 21% from 3Q 2020). Profit margin: 61% (down from 64% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 25% per year whereas the company’s share price has increased by 23% per year. Is New 90 Day High Low • Feb 01
New 90-day low: LK₨26.00 The company is down 6.0% from its price of LK₨27.52 on 03 November 2020. The Sri Lankan market is up 53% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 14% over the same period. Reported Earnings • Nov 15
Second quarter 2021 earnings released: EPS LK₨1.38 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: LK₨190.4m (up 37% from 2Q 2020). Net income: LK₨104.5m (up 296% from 2Q 2020). Profit margin: 55% (up from 19% 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 36% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Oct 23
New 90-day high: LK₨29.80 The company is up 19% from its price of LK₨25.10 on 24 July 2020. The Sri Lankan market is up 15% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Renewable Energy industry, which is up 26% over the same period. Recent Insider Transactions • Sep 26
Independent Non-Executive Director recently bought LK₨182k worth of stock On the 21st of September, Deshini Abeyawardena bought around 7k shares on-market at roughly LK₨28.00 per share. In the last 3 months, they made an even bigger purchase worth LK₨287k. Insiders have collectively bought LK₨531k more in shares than they have sold in the last 12 months. 
