The Teejay Group recorded revenue of LKR 60.04 billion during the period, reflecting a 10% year-on-year decline, primarily due to continued softness in global textile demand. This performance was largely impacted by reciprocal tariffs imposed by the United States, intensified pricing pressures across key markets, and the resulting decline in volumes, all of which collectively weighed on topline growth.

Group Gross Profit declined by 36% year-on-year to LKR 5.02 billion, mainly attributable to lower production volumes, underutilization of plant capacity, sustained pricing pressures, and an unfavorable product mix. Together, these factors adversely affected margin performance amid a challenging operating environment.

The Group reported a Profit After Tax (PAT) of LKR 54.7 million, representing a 98% year-on-year decline. This was primarily driven by higher rupee-denominated costs and non-recurring items, provision for doubtful debts, and restructuring costs associated with right-sizing initiatives.

Ajit Gunewardene, Chairman of the Teejay Group said, “The year was marked by persistent global demand softness and pricing pressures, which impacted results. Despite this, we focused on operational efficiency, cost discipline, and strengthening our financial resilience. These actions position the Group to navigate ongoing uncertainty while remaining committed to long-term value creation for our shareholders.”

Despite these near-term challenges, the Teejay Group continues to maintain a strong financial position, supported by disciplined working capital management and a robust liquidity base. As at 31 March 2026, cash and cash equivalents stood at LKR 8.3 billion, while the Group’s net asset base increased by 3% year-on-year to LKR 32.4 billion, reinforcing the resilience of its balance sheet.

Fairfirst Insurance has once again partnered with the Sri Lanka Police K9 Unit, continuing its support for the seventh consecutive year. This partnership reflects the company’s long-standing commitment to giving back to the community.

Through this initiative, Fairfirst will provide comprehensive insurance coverage for the highly trained canines attached to the Sri Lanka Police K9 Unit. These dogs play a critical role in supporting police operations across the country, assisting with crime detection, narcotics investigations, search and rescue missions, and public safety efforts.

As a company that believes business should create a meaningful impact beyond insurance, Fairfirst remains committed to initiatives that support communities and recognise the vital contributions of those who help keep society safe. This shared commitment to protection and responsibility continues to drive the company’s long-standing partnership with the Sri Lanka Police K9 Unit.

Commenting on the continued partnership, Ravishankar Wickneswaran, CEO of Fairfirst Insurance, said, “It is a privilege for us to continue supporting the Sri Lanka Police K9 Unit for the seventh consecutive year. These dogs serve the country with incredible discipline and loyalty, often in challenging situations. Supporting their wellbeing is one small way for us to give back, and it reflects the FairfirstWay of standing by those who protect and serve our communities every day.”

Fairfirst looks forward to continuing this partnership and contributing to the wellbeing of the Sri Lanka Police K9 Unit in the years ahead.

Dr. Binod Chaudhary, Chairman of CG Corp Global and Nepal’s only Forbes-listed billionaire, joined the Sri Lanka Chapter of the Entrepreneurs’ Organisation for a candid conversation on building businesses across some of the world’s most demanding markets.

Moderated by Haresh de Soysa, Director at Trade Promoters Limited and organized by Umayanga Nanayakkara of Asset Engineering Pvt Ltd, the conversation ranged from the discipline of Japanese business culture to the mechanics of family succession, drawing throughout on Dr. Chaudhary’s five decades of building a multi-billion dollar empire across 32 countries, starting from a landlocked nation of 30 million people.

His connection with Sri Lanka goes back nearly 25 years. He entered in 2001 during the civil war and has remained through every crisis the country has faced since, at one point announcing an additional USD 50 million investment when others were pulling back.

His group’s presence here today spans banking through a majority stake in Union Bank, hospitality through multiple properties including the Taj Samudra, a partnership with John Keells on the BYD agency, and a cement feasibility study currently underway – a footprint that reflects genuine long-term conviction in the country’s potential.

The line that drew the most reaction from the room came when Dr. Chaudhary was asked about the advantage of building in difficult environments. “If you can figure out how to succeed in countries like Nepal and Sri Lanka, it is like you know how to get on a badminton court and be ready for a cricket ball to come at you,” he said. His argument was straightforward: entrepreneurs who have survived currency crises, political instability, and regulatory uncertainty develop a shock-readiness that those who have only operated in stable markets simply do not carry. That reflex, he suggested, transfers well when you eventually move into easier terrain.

Dr. Chaudhary has long cited Japan as the education he never received in a classroom -a country whose business culture shaped his thinking during visits in the 1970s. He described three qualities he observed that have stayed with him: a deep organizational discipline, a resistance to individual grandstanding, and willingness among those who lose an internal argument to give unconditional support to the outcome that was chosen. The logic behind that last quality, he explained, is simple. “If we win, I win.” Individual and collective outcomes are treated as identical. His observation for the room was that this behaviour cannot be mandated – it can only follow from an environment where that belief is made economically real. Incentive structures, shared metrics, and genuine collective accountability must come first. The discipline follows naturally from there.

With partnerships spanning Marriott, Tata, and Mukesh Ambani’s Reliance – among many others – Dr. Chaudhary has built more joint ventures than most entrepreneurs will

encounter in a lifetime. His advice on what makes them last came down to a single distinction. “For both sides to win, each side must bring something valuable and value-adding,” he said.

The session with Dr. Chaudhary, who later this year will break ground on a USD 100 million Ritz-Carlton in Kathmandu, reflected the kind of access the organisation makes possible: candid, specific, and rooted in real experience.