Business
JAT records highest ever PAT amidst export revenue growth of 317%
Group PAT up by 232% to LKR 717 million
TTM PAT LKR 1,102 million
Total revenue up by 72%
Multinational conglomerate and Sri Lanka’s and Bangladesh’s market leader in wood coatings, JAT Holdings PLC, has delivered impressive results during the 3rd Quarter of FY 2021/22, despite subdued market conditions. Group Profit After Tax (PAT) rose 232%, against the same period in the year prior, to LKR 717 million for the quarter, while PAT for the trailing 12-months (TTM) stood at LKR 1,102 million.
The 9 months under review also witnessed revenues rise 72%, while gross profit margins of the Company remained steady at over 30%. Export revenue share also rose to 22% of total revenue, against 9% achieved during the year prior. Investors will also be pleased to note that EPS (of trailing 12 months) stood at LKR 2.16. This resilient financial performance comes as the Company begins Q4, which has demonstrated to be the best quarter for JAT Holdings and the total Coatings Industry and accounts for as much as 45% of PAT historically due to seasonal factors.
Discussing the financial performance of the Company, Nishal Ferdinando – Director / CEO said, “It is with great pleasure that we present investors with the solid results we’ve achieved over the last quarter, just six months since our IPO. These metrics were achieved amidst a subdued market environment and other challenges, volatile exchange rates and a scarcity of materials in the global market. However, we adapted to the market conditions and remained agile, maintaining our gross profit margins. We also leveraged on our strong supplier relations and continuous improvements to our production processes through the implementation of lean and six sigma principles to maintain our gross profit targets.”
Resilient performance was also recorded across all of JAT Holdings business sectors. The WHITE by JAT product range recorded sales 62% above budget for the 1st nine months of FY 2021/22, while sales in the brush and wood coatings segments increased by 57% and 33%, respectively, against the same period in the year prior. JAT Holdings’ Bangladesh operations also witnessed a 379% increase in revenue, which will be further boosted as a result of manufacturing commencing in Q4 of FY22 which is ahead of schedule. The Company has also secured a pipeline of projects worth in excess of LKR 1 billion, through luxury kitchen and wardrobe projects for premier developments such as Prime Grand Residencies and 606 The Address.
Commenting on the Company’s immediate future plans, Aelian Gunawardene – Founder and Managing Director added, “At this rate, we’re on track to meet our 1.2-billion-rupee PAT target for the current financial year. As a result of our strong financial performance, we have also been able to secure stocks of raw materials and other items for at least the next 5 months, which gives us flexibility amidst the current challenges facing imports. Furthermore, we are very enthusiastic about Q4 as we know it to historically be the most profitable quarter for us due to seasonality. Thus, backed by the resilient performance we have delivered over a challenging Q3, investors can look forward to an even more robust and rewarding performance during Q4. The Company expects to end FY 2021/22 having met all targets and exceeding expectations in every way. Furthermore, our R&D plant, which is scheduled to be fully functional by Q2 of FY23, will help to further boost our gross profit margins, enabling us to deliver exceptional value to our investors well into the future.”
Business
World Bank puts USD 110m into climate-resilient road rebuilding
By Ifham Nizam
The World Bank has approved USD 110 million in additional financing to rebuild around 600 kilometres of roads damaged by Cyclone Ditwah, with the investment aimed not merely at restoring connectivity but at making critical transport infrastructure more resilient to future climate shocks.
The financing comes against a much larger recovery requirement for the transport sector, estimated at USD 1.31 billion, highlighting the scale of the infrastructure challenge following one of the most destructive weather disasters to hit the country in recent years.
The World Bank said the additional financing, provided through the International Development Association (IDA) Crisis Response Window, would support road reconstruction incorporating improved drainage, landslide protection and upgraded engineering standards.
‘Cyclone Ditwah has had a devastating impact on connectivity across Sri Lanka, but rebuilding also gives us an opportunity to build back stronger, said Gevorg Sargsyan, World Bank Group Country Manager for Sri Lanka and Maldives.
The World Bank said the programme would go beyond repairing damaged roads, helping reconnect farmers with markets, communities with essential services and households with economic opportunities.
The additional financing will extend the Inclusive Connectivity and Development Project (ICDP) by three years, taking total World Bank transport investment under the operation to USD 610 million.
The World Bank’s December 2025 GRADE assessment estimated Cyclone Ditwah had caused USD 4.1 billion in direct physical damage, equivalent to around four percent of GDP. Infrastructure accounted for approximately USD 1.735 billion, or 42% of the total, with roads, bridges, railways and water systems among the heavily affected assets.
The Bank has stressed that the USD 4.1 billion estimate measures direct physical damage and does not include income or production losses or the full cost of recovery and reconstruction.
The transport sector alone suffered extensive disruption, making the rebuilding of road networks a critical component of the broader economic recovery.
The latest USD 110 million package is expected to directly benefit more than 830,000 people, while nearly two million people across eight districts are expected to benefit from improved connectivity.
The programme is also expected to support employment during reconstruction and improve market access for approximately 22,000 tea, vegetable and paddy farmers.
The World Bank’s intervention therefore combines immediate disaster recovery with a longer-term infrastructure objective: ensuring that money spent on reconstruction does not simply restore roads to their pre-disaster condition but reduces their vulnerability to the next extreme-weather event.
That approach is becoming increasingly important as climate-related disasters place additional pressure on already constrained public finances.
Rebuilding the same infrastructure repeatedly after floods, landslides and other disasters carries a significant economic cost, making resilience an increasingly important part of infrastructure investment decisions.
Business
SLIC Life offers Rs.1million free life cover to parents of children born on World Children’s Day 2026
In celebration of World Children’s Day 2026, Sri Lanka Insurance Life (SLIC Life) has once again extended a Rs. 1 million free life insurance cover to the parents of every child born on 1 October 2026, across Sri Lanka. Now in its fifth consecutive year, the initiative was implemented island-wide, covering hospitals across the country and enabling parents of newborns to benefit from this special offering.
Beyond providing financial protection, the initiative seeks to highlight the importance of planning for a family’s financial security from the very beginning of a child’s life.
“The birth of a child marks the beginning of a new journey filled with hopes, dreams and aspirations. At SLIC Life, we believe that protection should begin from the very start of that journey. Through this initiative, we aim to create greater awareness of the importance of planning ahead and the role life insurance can play in safeguarding families against life’s uncertainties. As we continue this initiative for the fifth consecutive year, we remain committed to extending meaningful protection to Sri Lankan families and contributing towards a more secure future for the next generation,” said Dr. Sameera Dharmasena, Chief Executive Officer of SLIC Life.
Launched in 2022 as part of SLIC Life’s Corporate Social Responsibility (CSR) programme, the World Children’s Day initiative was introduced with the aim of supporting parents and strengthening financial security for families at an important stage in their lives. Over the years, the initiative has become a significant part of SLIC Life’s annual CSR calendar, reflecting the company’s broader commitment to children, families and communities.
SLIC Life’s commitment to children and education extends across several long standing CSR initiatives. The ‘Pasal Piriyatha Surakimu’ programme, launched in 2007, has benefited over 3,365 underprivileged schools through initiatives including classroom refurbishments, water facilities, libraries and learning resources. The 2026 edition of the programme is scheduled to be carried out in November, continuing SLIC Life’s efforts to enhance learning environments for children across the country. Complementing this, the ‘Suba Pathum Scholarship Programme’, which has been conducted since 2014, has now awarded 2,425 scholarships valued at Rs. 265 million to children of policyholders who demonstrate excellence in national examinations. The programme reflects SLIC Life’s continued focus on supporting educational aspirations and creating opportunities for the next generation.
Children remain at the heart of SLIC Life’s commitment to building a more secure future. Through the annual World Children’s Day initiative and its wider CSR programmes, SLIC Life continues to demonstrate that the value of insurance extends beyond financial protection, contributing to stronger and more resilient families and communities.
Business
HelpAge thanks donors for helping in carrying out free cataract surgery program
At a recent seminar HelpAge Sri Lanka (HASL) thanked local and foreign donors for strengthening the on-going free cataract surgeries program conducted by HelpAge Eye Hospital, Wellawatta for less- privileged elders over 55 years.
According to HelpAge Eye Hospital statistics the free cataract surgery programme was commenced in 2002 and over 55,000 surgeries have so far been performed for elderly citizens.
Head of HelpAge Eye Hospital Mahanama Wijesinghe said needy persons over 55 years of age could contact the hospital on telephone numbers 0112555759 and 0112589450 for free cataract surgeries.
‘Steps have been taken to conduct surgeries within a short duration of 30 days after attending the Eye Hospital clinic, he said.
Wijesinghe thanked all donors for their donations towards helping underprivileged citizens of the country.
HelpAge, Executive Director Dr. Harsha Bandara said HelpAge also conducts free medical and eye camps for needy elders and thanked donors for their donations towards this meritorious cause.
He requested philanthropists and donors to make their contributions for the sake of the needy.
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