Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨50.70, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 17x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 109% over the past three years. New Risk • May 06
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% 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 Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Dividend is not well covered by earnings (0% payout ratio). Revenue is less than US$5m (LK₨429m revenue, or US$1.3m). Market cap is less than US$100m (LK₨4.05b market cap, or US$12.7m). Reported Earnings • May 06
Full year 2026 earnings released: EPS: LK₨13.02 (vs LK₨5.50 in FY 2025) Full year 2026 results: EPS: LK₨13.02 (up from LK₨5.50 in FY 2025). Net income: LK₨1.21b (up 136% from FY 2025). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Declared Dividend • Feb 11
Dividend of LK₨1.00 announced Shareholders will receive a dividend of LK₨1.00. Ex-date: 18th February 2026 Payment date: 10th March 2026 Dividend yield will be 2.1%, which is lower than the industry average of 9.0%. Sustainability & Growth Dividend is covered by earnings (31% earnings payout ratio) but not covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 23% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to LK₨55.80, the stock trades at a trailing P/E ratio of 9.8x. Average trailing P/E is 15x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 118% over the past three years. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨54.00, the stock trades at a trailing P/E ratio of 9.5x. Average trailing P/E is 13x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 133% over the past three years. Tillkännagivande • Sep 15
On'ally Holdings PLC, Annual General Meeting, Sep 26, 2025 On'ally Holdings PLC, Annual General Meeting, Sep 26, 2025, at 14:30 Sri Lanka Standard Time. Location: sri lanka foundation, no. 100, padanam mawatha, independence square, colombo 07 Sri Lanka New Risk • Sep 09
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 10% 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 Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Revenue is less than US$5m (LK₨367m revenue, or US$1.2m). Market cap is less than US$100m (LK₨4.98b market cap, or US$16.5m). Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨42.40, the stock trades at a trailing P/E ratio of 7.4x. Average trailing P/E is 18x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 75% over the past three years. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to LK₨41.50, the stock trades at a trailing P/E ratio of 7.1x. Average trailing P/E is 12x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 66% over the past three years. Reported Earnings • Jun 02
Full year 2025 earnings released: EPS: LK₨5.84 (vs LK₨6.13 in FY 2024) Full year 2025 results: EPS: LK₨5.84 (down from LK₨6.13 in FY 2024). Net income: LK₨542.8m (down 4.8% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has remained flat. Tillkännagivande • Apr 18
On'ally Holdings plc Announces Cessation of Johann Amandra Ratwatte as the Alternate Director to Mr. A J B Warman, Effective April 9, 2025 On'ally Holdings PLC announced that Mr. Johann Amandra Ratwatte, who was appointed as the Alternate Director to Mr. A J B Warman on 10th April 2024, ceased his office as Alternate Director with effect from 9th April 2025 upon completion of one year. New Risk • Mar 12
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 6.8% 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 Risk Market cap is less than US$10m (LK₨2.60b market cap, or US$8.82m). 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 (6.8% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (LK₨339m revenue, or US$1.1m). Upcoming Dividend • Feb 04
Upcoming dividend of LK₨1.60 per share Eligible shareholders must have bought the stock before 11 February 2025. Payment date: 04 March 2025. Payout ratio is a comfortable 30% and the cash payout ratio is 84%. Trailing yield: 6.1%. Within top quartile of Sri Lankan dividend payers (5.4%). Higher than average of industry peers (4.6%). Reported Earnings • Jan 30
Third quarter 2025 earnings released: EPS: LK₨0.57 (vs LK₨0.29 in 3Q 2024) Third quarter 2025 results: EPS: LK₨0.57 (up from LK₨0.29 in 3Q 2024). Net income: LK₨52.7m (up 99% from 3Q 2024). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Dec 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Director Loku Kumudu Lal was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 18
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 6.3% 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 (6.3% average weekly change). Market cap is less than US$10m (LK₨2.25b market cap, or US$7.71m). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Revenue is less than US$5m (LK₨326m revenue, or US$1.1m). Reported Earnings • Oct 24
Second quarter 2025 earnings released: EPS: LK₨0.60 (vs LK₨0.45 in 2Q 2024) Second quarter 2025 results: EPS: LK₨0.60 (up from LK₨0.45 in 2Q 2024). Net income: LK₨55.6m (up 34% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Oct 01
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 Market cap is less than US$10m (LK₨2.26b market cap, or US$7.66m). 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). Large one-off items impacting financial results. Revenue is less than US$5m (LK₨313m revenue, or US$1.1m). Tillkännagivande • Sep 03
On'ally Holdings PLC, Annual General Meeting, Sep 27, 2024 On'ally Holdings PLC, Annual General Meeting, Sep 27, 2024, at 14:00 Sri Lanka Standard Time. Location: the sri lanka foundation, no. 100, padanam mawatha, independence square, colombo 07, Sri Lanka Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: LK₨0.54 (vs LK₨0.41 in 1Q 2024) First quarter 2025 results: EPS: LK₨0.54 (up from LK₨0.41 in 1Q 2024). Net income: LK₨50.0m (up 31% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Reported Earnings • May 17
Full year 2024 earnings released: EPS: LK₨5.37 (vs LK₨3.71 in FY 2023) Full year 2024 results: EPS: LK₨5.37 (up from LK₨3.71 in FY 2023). Net income: LK₨499.2m (up 45% from FY 2023). 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 5% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Apr 25
Now 25% undervalued Over the last 90 days, the stock has risen 7.9% to LK₨25.90. The fair value is estimated to be LK₨34.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 19%. Upcoming Dividend • Apr 18
Upcoming dividend of LK₨2.00 per share Eligible shareholders must have bought the stock before 25 April 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 14%. Within top quartile of Sri Lankan dividend payers (7.9%). Higher than average of industry peers (7.7%). New Risk • Mar 29
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 Share price has been highly volatile over the past 3 months (6.9% average weekly change). Revenue is less than US$1m (LK₨288m revenue, or US$958k). Market cap is less than US$10m (LK₨2.33b market cap, or US$7.74m). Minor Risks Dividend is not well covered by cash flows (111% cash payout ratio). Large one-off items impacting financial results. Buy Or Sell Opportunity • Jan 31
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 13% to LK₨24.40. The fair value is estimated to be LK₨31.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 19%. New Risk • Jan 30
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 Risks Revenue is less than US$1m (LK₨288m revenue, or US$908k). Market cap is less than US$10m (LK₨2.40b market cap, or US$7.58m). Minor Risks Dividend is not well covered by cash flows (111% cash payout ratio). Share price has been volatile over the past 3 months (5.1% average weekly change). Large one-off items impacting financial results. Reported Earnings • Jan 25
Third quarter 2024 earnings released: EPS: LK₨0.29 (vs LK₨1.31 loss in 3Q 2023) Third quarter 2024 results: EPS: LK₨0.29 (up from LK₨1.31 loss in 3Q 2023). Net income: LK₨26.5m (up LK₨148.7m from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. New Risk • Dec 04
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 6.5% 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 (6.5% average weekly change). Revenue is less than US$1m (LK₨287m revenue, or US$874k). Market cap is less than US$10m (LK₨2.60b market cap, or US$7.94m). Minor Risks Dividend is not well covered by cash flows (372% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (108% net profit margin). Reported Earnings • Oct 27
Second quarter 2024 earnings released: EPS: LK₨0.45 (vs LK₨0.74 in 2Q 2023) Second quarter 2024 results: EPS: LK₨0.45 (down from LK₨0.74 in 2Q 2023). Net income: LK₨41.5m (down 37% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: LK₨0.41 (vs LK₨0.53 in 1Q 2023) First quarter 2024 results: EPS: LK₨0.41 (down from LK₨0.53 in 1Q 2023). Net income: LK₨38.3m (down 22% from 1Q 2023). 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 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to LK₨29.50, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 8x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 45% over the past three years. Reported Earnings • May 26
Full year 2023 earnings released: EPS: LK₨3.61 (vs LK₨7.09 in FY 2022) Full year 2023 results: EPS: LK₨3.61 (down from LK₨7.09 in FY 2022). Net income: LK₨335.4m (down 49% from FY 2022). 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 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 25
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to LK₨22.60, the stock trades at a trailing P/E ratio of 3.8x. Average trailing P/E is 6x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 10% over the past three years. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to LK₨31.70, the stock trades at a trailing P/E ratio of 5.4x. Average trailing P/E is 7x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 25% over the past year. Upcoming Dividend • May 02
Upcoming dividend of LK₨2.30 per share at 13% yield Eligible shareholders must have bought the stock before 09 May 2023. Payment date: 29 May 2023. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 13%. Within top quartile of Sri Lankan dividend payers (8.5%). Higher than average of industry peers (8.1%). Reported Earnings • Feb 16
Third quarter 2023 earnings released: LK₨1.31 loss per share (vs LK₨0.44 profit in 3Q 2022) Third quarter 2023 results: LK₨1.31 loss per share (down from LK₨0.44 profit in 3Q 2022). Net loss: LK₨122.1m (down 398% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Nov 16
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non Executive Chairman Vidanage Udaya Nanayakkara was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 28
Second quarter 2023 earnings released: EPS: LK₨0.71 (vs LK₨0.36 in 2Q 2022) Second quarter 2023 results: EPS: LK₨0.71 (up from LK₨0.36 in 2Q 2022). Net income: LK₨66.3m (up 98% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 21% share price gain to LK₨34.00, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 8x in the Real Estate industry in Sri Lanka. Total loss to shareholders of 7.9% over the past three years. Recent Insider Transactions • Jul 23
Board Member recently bought LK₨141k worth of stock On the 19th of July, Mohamed Jamaldeen bought around 4k shares on-market at roughly LK₨32.40 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. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improved over the past week After last week's 19% share price gain to LK₨28.60, the stock trades at a trailing P/E ratio of 2.4x. Average trailing P/E is 7x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 31% over the past three years. Board Change • Jun 23
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non Executive Chairman Vidanage Udaya Nanayakkara was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 02
Full year 2022 earnings released: EPS: LK₨11.73 (vs LK₨2.60 in FY 2021) Full year 2022 results: EPS: LK₨11.73 (up from LK₨2.60 in FY 2021). Net income: LK₨1.09b (up 351% from FY 2021). 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 13% per year, which means it is significantly lagging earnings growth. Board Change • Apr 28
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Non Executive Chairman Vidanage Udaya Nanayakkara was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorated over the past week After last week's 24% share price decline to LK₨30.40, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 13x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 61% over the past three years. Upcoming Dividend • Jan 31
Inaugural dividend of LK₨2.10 per share Eligible shareholders must have bought the stock before 07 February 2022. Payment date: 28 February 2022. The company is not currently making a profit but it is cash flow positive. The company last paid an ordinary dividend in August 2020. The average dividend yield among industry peers is 3.2%. Reported Earnings • Jan 27
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: LK₨0.44 (up from LK₨0.39 in 3Q 2021). Net income: LK₨41.0m (up 12% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 26
Investor sentiment improved over the past week After last week's 18% share price gain to LK₨37.70, the stock trades at a trailing P/E ratio of 14.8x. Average trailing P/E is 14x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 92% over the past three years. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improved over the past week After last week's 15% share price gain to LK₨38.90, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 11x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 117% over the past three years. Reported Earnings • Jul 28
First quarter 2022 earnings released: EPS LK₨0.32 (vs LK₨0.32 in 1Q 2021) First quarter 2022 results: Net income: LK₨29.4m (down 1.7% from 1Q 2021). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improved over the past week After last week's 17% share price gain to LK₨36.50, the stock trades at a trailing P/E ratio of 24.2x. Average trailing P/E is 17x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 120% over the past three years. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment improved over the past week After last week's 16% share price gain to LK₨33.70, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 11x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 104% over the past three years. Reported Earnings • May 27
Full year 2021 earnings released: EPS LK₨1.51 (vs LK₨1.87 in FY 2020) Full year 2021 results: Net income: LK₨243.0m (up 39% from FY 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improved over the past week After last week's 20% share price gain to LK₨34.10, the stock trades at a trailing P/E ratio of 18.6x. Average trailing P/E is 11x in the Real Estate industry in Sri Lanka. Total returns to shareholders of 237% over the past three years. Is New 90 Day High Low • Mar 15
New 90-day low: LK₨29.20 The company is down 8.0% from a price of LK₨31.90 on 15 December 2020. Underperformed the Sri Lankan market, which is up 9.0% over the last 90 days. Lagged the Real Estate industry, which is flat over the same period. Reported Earnings • Feb 11
Third quarter 2021 earnings released: EPS LK₨0.39 (vs LK₨0.38 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: LK₨51.6m (down 3.2% from 3Q 2020). Net income: LK₨36.5m (up 4.0% from 3Q 2020). Profit margin: 71% (up from 66% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 54% per year, which means it is well ahead of earnings. Tillkännagivande • Feb 04
On'ally Holdings PLC Announces Board Appointments On'ally Holdings PLC at its the Extraordinary General Meeting held on 1 February 2021, approved that Mr. Mohamed Hisham Jamaldeen, Mr. Archie James Buckland Warman, Mr. Sarravanan Neelakandan, and Mr. Afzal Ahamed Marikar be and is hereby appointed as Directors of the company in terms of Article 95 of the Articles of Association of the company. Messrs Sarravanan Neelakandan and Afzal Ahamed Marikar were appointed as lndependent Non-Executive Directors. Messrs Archie James Buckland Warman and Mohamed Hisham Jamaldeen were appointed as Non-lndependent Non-executive directors. Mr. Kudagamage Jayantha Pradeep was appointed as the alternate director to Mr. Archie James Buckland Warman with effect from February 1, 2021. Mr. Archie James Buckland Warman was appointed as the Deputy Chairman of the Board of Directors with effect from 1st February 2021. The sub committees were re-constituted with effect from February 1, 2021 as follows: the audit committee comprise of Mr. W L D P V Jayawardene as chairman of the committee, Mr. S Neelakandan and Mr. A A Marikar as members. Related party transactions review committee comprise of Mr. G T Fazleabas as chairman of the committee, Mr. S Neelakandan and Mr. A A Marikar as members. Remuneration committee comprise of Mr. M H Jamaldeen as chairman of the committee, Mr. E A C Piyashantha, Mr. G T Fazleabas, Mr. S Neelakandan and Mr. A A Marikar as members. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 21% share price gain to LK₨40.00, the stock is trading at a trailing P/E ratio of 21.7x, up from the previous P/E ratio of 17.9x. This compares to an average P/E of 10x in the Real Estate industry in Sri Lanka. Total returns to shareholders over the past three years are 353%. Is New 90 Day High Low • Jan 19
New 90-day high: LK₨34.80 The company is up 33% from its price of LK₨26.10 on 21 October 2020. The Sri Lankan market is also up 33% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Real Estate industry, which is up 10.0% over the same period. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 16% share price gain to LK₨31.20, the stock is trading at a trailing P/E ratio of 17x, up from the previous P/E ratio of 14.7x. This compares to an average P/E of 15x in the Real Estate industry in Sri Lanka. Total returns to shareholders over the past three years are 277%. Is New 90 Day High Low • Dec 03
New 90-day high: LK₨33.80 The company is up 31% from its price of LK₨25.90 on 04 September 2020. The Sri Lankan market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 5.0% over the same period. Valuation Update With 7 Day Price Move • Dec 03
Market bids up stock over the past week After last week's 25% share price gain to LK₨33.80, the stock is trading at a trailing P/E ratio of 18.4x, up from the previous P/E ratio of 14.7x. This compares to an average P/E of 14x in the Real Estate industry in Sri Lanka. Total returns to shareholders over the past three years are 308%. Reported Earnings • Oct 31
First half earnings released Over the last 12 months the company has reported total profits of LK₨171.2m, with earnings increasing by LK₨227.7m from the prior year. Total revenue was LK₨197.7m over the last 12 months, down 5.3% from the prior year. Valuation Update With 7 Day Price Move • Oct 13
Market bids up stock over the past week After last week's 25% share price gain to LK₨31.80, the stock is trading at a trailing P/E ratio of 11.5x, up from the previous P/E ratio of 9.2x. This compares to an average P/E of 10x in the Real Estate industry in Sri Lanka. Total returns to shareholders over the past three years are 285%. Is New 90 Day High Low • Sep 28
New 90-day high: LK₨31.40 The company is up 21% from its price of LK₨26.00 on 29 June 2020. The Sri Lankan market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 11% over the same period. 