Upcoming Dividend • Feb 17
Upcoming dividend of LK₨0.60 per share Eligible shareholders must have bought the stock before 24 February 2026. Payment date: 16 March 2026. Trailing yield: 4.5%. Within top quartile of Sri Lankan dividend payers (4.2%). Higher than average of industry peers (2.3%). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: LK₨0.25 (vs LK₨0.35 in 2Q 2025) Second quarter 2026 results: EPS: LK₨0.25 (down from LK₨0.35 in 2Q 2025). Revenue: LK₨352.3m (down 26% from 2Q 2025). Net income: LK₨186.0m (down 29% from 2Q 2025). Profit margin: 53% (down from 55% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 14
First quarter 2026 earnings released: EPS: LK₨0.32 (vs LK₨0.68 in 1Q 2025) First quarter 2026 results: EPS: LK₨0.32 (down from LK₨0.68 in 1Q 2025). Revenue: LK₨424.1m (up 23% from 1Q 2025). Net income: LK₨240.5m (down 53% from 1Q 2025). Profit margin: 57% (down from 147% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jun 06
Vallibel Power Erathna PLC, Annual General Meeting, Jun 30, 2025 Vallibel Power Erathna PLC, Annual General Meeting, Jun 30, 2025, at 15:00 Sri Lanka Standard Time. Location: the kingsbury hotel, colombo 01, Sri Lanka Reported Earnings • May 23
Full year 2025 earnings released: EPS: LK₨1.31 (vs LK₨0.90 in FY 2024) Full year 2025 results: EPS: LK₨1.31 (up from LK₨0.90 in FY 2024). Revenue: LK₨1.38b (down 6.7% from FY 2024). Net income: LK₨979.0m (up 46% from FY 2024). Profit margin: 71% (up from 46% in FY 2024). The increase in margin 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 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 16
Third quarter 2025 earnings released: EPS: LK₨0.34 (vs LK₨0.52 in 3Q 2024) Third quarter 2025 results: EPS: LK₨0.34 (down from LK₨0.52 in 3Q 2024). Revenue: LK₨430.2m (down 26% from 3Q 2024). Net income: LK₨254.3m (down 35% from 3Q 2024). Profit margin: 59% (down from 67% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 16
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: LK₨1.4b (US$4.8m) 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: Minor Risks Dividend is not well covered by earnings (0% payout ratio). Revenue is less than US$5m (LK₨1.4b revenue, or US$4.8m). Market cap is less than US$100m (LK₨10.7b market cap, or US$36.2m). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to LK₨14.30, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 13x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 141% over the past three years. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: LK₨0.35 (vs LK₨0.32 in 2Q 2024) Second quarter 2025 results: EPS: LK₨0.35 (up from LK₨0.32 in 2Q 2024). Revenue: LK₨474.0m (up 2.4% from 2Q 2024). Net income: LK₨261.3m (up 10% from 2Q 2024). Profit margin: 55% (up from 51% in 2Q 2024). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: LK₨0.68 (vs LK₨0.19 in 1Q 2024) First quarter 2025 results: EPS: LK₨0.68 (up from LK₨0.19 in 1Q 2024). Revenue: LK₨345.4m (up 31% from 1Q 2024). Net income: LK₨506.9m (up 247% from 1Q 2024). 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 2% per year. Announcement • Jun 08
Vallibel Power Erathna PLC, Annual General Meeting, Jun 28, 2024 Vallibel Power Erathna PLC, Annual General Meeting, Jun 28, 2024, at 16:30 Sri Lanka Standard Time. Location: kingsbury hotel, colombo 01, Sri Lanka Reported Earnings • May 19
Full year 2024 earnings released: EPS: LK₨0.90 (vs LK₨0.78 in FY 2023) Full year 2024 results: EPS: LK₨0.90 (up from LK₨0.78 in FY 2023). Revenue: LK₨1.48b (up 31% from FY 2023). Net income: LK₨670.5m (up 15% from FY 2023). Profit margin: 46% (down from 52% 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 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to LK₨9.10, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 8x in the Renewable Energy industry in Sri Lanka. Total returns to shareholders of 51% over the past three years. New Risk • Feb 27
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 5.1% 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 Earnings have declined by 2.7% per year over the past 5 years. 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 (5.1% average weekly change). Revenue is less than US$5m (LK₨1.4b revenue, or US$4.6m). Market cap is less than US$100m (LK₨6.57b market cap, or US$21.2m). Reported Earnings • Feb 13
Third quarter 2024 earnings released: EPS: LK₨0.52 (vs LK₨0.14 in 3Q 2023) Third quarter 2024 results: EPS: LK₨0.52 (up from LK₨0.14 in 3Q 2023). Revenue: LK₨583.4m (up 81% from 3Q 2023). Net income: LK₨392.7m (up 262% from 3Q 2023). Profit margin: 67% (up from 34% in 3Q 2023). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has remained flat and the company’s share price has also remained flat. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: LK₨0.19 (vs LK₨0.31 in 1Q 2023) First quarter 2024 results: EPS: LK₨0.19 (down from LK₨0.31 in 1Q 2023). Revenue: LK₨263.8m (down 29% from 1Q 2023). Net income: LK₨146.0m (down 38% from 1Q 2023). Profit margin: 55% (down from 63% in 1Q 2023). The decrease in margin was driven by lower 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 5% per year. Upcoming Dividend • Jun 21
Upcoming dividend of LK₨0.50 per share Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 19 July 2023. The company last paid an ordinary dividend in January 2013. The average dividend yield among industry peers is 2.9%. Announcement • Jun 09
Vallibel Power Erathna PLC, Annual General Meeting, Jun 30, 2023 Vallibel Power Erathna PLC, Annual General Meeting, Jun 30, 2023, at 16:30 Indian Standard Time. Location: CENTERED AT THE BOARDROOM, OF ROYAL CERAMICS LANKA PLC AT NO. 20, R A DE MEL MAWATHA Colombo 03 Sri Lanka Agenda: To receive and consider the Annual Report of the Board of Directors on the affairs of the Company and its subsidiaries and the Financial Statements for the year ended 31 March 2023 and the Report of the Auditors thereon; to re-elect Mr.Prabodha Sumanasekera, who retires by rotation in terms of Article 25(10) of the Articles of Association, as a Director of the Company; to re-appoint Messrs PriceWaterhouseCoopers, Chartered Accountants, the retiring Auditors and to authorize the Directors to determine their remuneration; to authorize the Directors to determine and make donations for the year ending 31 March 2024 and up to the date of the next Annual General Meeting. Board Change • Jun 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. 1 experienced director. 5 highly experienced directors. Non-Executive Director Yogadinusha Bhaskaran was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 30
Full year 2023 earnings released: EPS: LK₨0.78 (vs LK₨1.02 in FY 2022) Full year 2023 results: EPS: LK₨0.78 (down from LK₨1.02 in FY 2022). Revenue: LK₨1.12b (down 15% from FY 2022). Net income: LK₨583.3m (down 24% from FY 2022). Profit margin: 52% (down from 58% in FY 2022). 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 5% per year. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: LK₨0.14 (vs LK₨0.40 in 3Q 2022) Third quarter 2023 results: EPS: LK₨0.14 (down from LK₨0.40 in 3Q 2022). Revenue: LK₨322.8m (down 24% from 3Q 2022). Net income: LK₨108.4m (down 64% from 3Q 2022). Profit margin: 34% (down from 71% 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 3% per year whereas the company’s share price has increased by 2% per year. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: LK₨0.28 (vs LK₨0.31 in 2Q 2022) Second quarter 2023 results: EPS: LK₨0.28 (down from LK₨0.31 in 2Q 2022). Revenue: LK₨325.5m (down 22% from 2Q 2022). Net income: LK₨208.8m (down 11% from 2Q 2022). Profit margin: 64% (up from 56% in 2Q 2022). The increase in margin 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 1% per year. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: LK₨0.28 (vs LK₨0.31 in 2Q 2022) Second quarter 2023 results: EPS: LK₨0.28 (down from LK₨0.31 in 2Q 2022). Revenue: LK₨325.5m (down 22% from 2Q 2022). Net income: LK₨208.8m (down 11% from 2Q 2022). Profit margin: 64% (up from 56% in 2Q 2022). The increase in margin 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 2% per year. Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: LK₨0.31 (vs LK₨0.33 in 1Q 2022) First quarter 2023 results: EPS: LK₨0.31 (down from LK₨0.33 in 1Q 2022). Revenue: LK₨371.9m (flat on 1Q 2022). Net income: LK₨234.4m (down 5.4% from 1Q 2022). Profit margin: 63% (down from 66% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Announcement • Jun 08
Vallibel Power Erathna PLC, Annual General Meeting, Jun 30, 2022 Vallibel Power Erathna PLC, Annual General Meeting, Jun 30, 2022, at 11:30 Sri Lanka Standard Time. Location: CENTERED AT THE BOARDROOM OF ROYAL CERAMICS LANKA PLC AT NO. 20, R A DE MEL MAWATHA Colombo 03 Sri Lanka Agenda: To receive and consider the Annual Report of the Board of Directors on the affairs of the Company and its subsidiaries and the Statement of Accounts for the year ended 31st March 2022 and the Report of the Auditors thereon; to consider and re-elect Mr. C V Cabraal as a Director of the Company; to consider and re-elect Ms. Y Bhaskaran as a Director of the Company; to consider re-appoint Messrs Price Waterhouse Coopers, Chartered Accountants, the retiring Auditors and to authorize the Directors to determine their remuneration; to consider and authorize the Directors to determine and make donations for the year ending 31st March 2023 and up to the date of the next Annual General Meeting; and to consider other business matters. Reported Earnings • May 26
Full year 2022 earnings released: EPS: LK₨1.02 (vs LK₨0.74 in FY 2021) Full year 2022 results: EPS: LK₨1.02 (up from LK₨0.74 in FY 2021). Revenue: LK₨1.32b (up 23% from FY 2021). Net income: LK₨765.0m (up 39% from FY 2021). Profit margin: 58% (up from 51% in FY 2021). The increase in margin was driven by higher revenue. 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 7% per year, which means it is well ahead of earnings. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Shan Shanmuganathan was the last independent director to join the board, commencing their role in 2012. 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 • Feb 15
Upcoming dividend of LK₨0.35 per share Eligible shareholders must have bought the stock before 22 February 2022. Payment date: 15 March 2022. Payout ratio is a comfortable 62% and the cash payout ratio is 85%. Trailing yield: 15%. Within top quartile of Sri Lankan dividend payers (5.3%). Higher than average of industry peers (6.6%). Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: LK₨0.40 (up from LK₨0.24 in 3Q 2021). Revenue: LK₨421.8m (up 30% from 3Q 2021). Net income: LK₨298.8m (up 66% from 3Q 2021). Profit margin: 71% (up from 55% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Nov 12
Second quarter 2022 earnings released: EPS LK₨0.31 (vs LK₨0.30 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₨418.4m (up 18% from 2Q 2021). Net income: LK₨234.2m (up 5.8% from 2Q 2021). Profit margin: 56% (down from 63% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS LK₨0.33 (vs LK₨0.12 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: LK₨375.4m (up 54% from 1Q 2021). Net income: LK₨247.8m (up 184% from 1Q 2021). Profit margin: 66% (up from 36% in 1Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 22
New 90-day low: LK₨7.50 The company is down 6.0% from its price of LK₨8.00 on 24 November 2020. The Sri Lankan market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is down 3.0% over the same period. Reported Earnings • Feb 04
Third quarter 2021 earnings released: EPS LK₨0.24 (vs LK₨0.40 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: LK₨324.0m (down 25% from 3Q 2020). Net income: LK₨179.6m (down 41% from 3Q 2020). Profit margin: 55% (down from 70% in 3Q 2020). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Upcoming Dividend • Nov 10
Upcoming Dividend of LK₨0.30 Per Share Will be paid on the 26th of November to those who are registered shareholders by the 17th of November. The trailing yield of 8.6% is in the top quartile of Sri Lankan dividend payers (4.8%), and it is higher than industry peers (6.8%). Reported Earnings • Nov 06
Second quarter 2021 earnings released: EPS LK₨0.30 The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2021 results: Revenue: LK₨353.6m (up 5.2% from 2Q 2020). Net income: LK₨221.2m (up 2.1% from 2Q 2020). Profit margin: 63% (down from 65% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Is New 90 Day High Low • Nov 04
New 90-day high: LK₨8.30 The company is up 38% from its price of LK₨6.00 on 06 August 2020. The Sri Lankan market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 26% over the same period.