Profit up 38%. Revenue up 37%.
Group Revenue rose 37.4% from a year ago to LKR 3.96 Bn, with New Zealand added and Bangladesh up 55.9%. Profit Attributable rose 37.5% to LKR 345 Mn, and 125.7% on the first quarter.
Share price
- Close, 26 October 2026
- LKR 28.60
- Results declared
- 26 October 2026
Jul–Sep 2026 results, line by line
| LKR Mn | Jul–Sep 2026 | YoY | QoQ |
|---|---|---|---|
| Revenue | 3,964 | +37.4% | +30.3% |
| Gross Profit | 1,385 | +42.5% | +29.2% |
| GP Margin | 34.9% | +1.3 pts | −0.3 pts |
| Operating Profit | 479 | +41.7% | +175.9% |
| OP Margin | 12.1% | +0.4 pts | +6.4 pts |
| Profit Before Tax | 435 | +41.4% | +160.3% |
| Profit Attributable | 345 | +37.5% | +125.7% |
| Margin | 8.7% | 0.0 pts | +3.7 pts |
YoY against the same quarter a year ago. QoQ against the previous quarter.
What drove it
- 01Wood coatings carry the business
Wood coatings were LKR 2,686 Mn, 67.8% of Revenue, up 28.7%. Decoratives and other rose 82.1% to LKR 702 Mn and EV Chargers 57.4% to LKR 299 Mn.
- 02Bangladesh up 56%, New Zealand added
Bangladesh Revenue rose 55.9% to LKR 808 Mn. New Zealand is Mirotone, acquired in October 2025, at LKR 355 Mn; without it, Revenue rose 25.1%. Sri Lanka, up 17.2% to LKR 2,723 Mn, is 68.7% of Revenue.
- 03How Operating Profit rose LKR 141 Mn
Higher Gross Profit added LKR 413 Mn. Selling and Distribution costs, up 59.9%, took LKR 193 Mn and Administrative costs LKR 80 Mn, taking Operating Profit to LKR 479 Mn from LKR 338 Mn.
- 04Operating Profit nearly tripled on 1Q
Revenue rose 30.3% on the first quarter, to LKR 3.96 Bn from LKR 3.04 Bn, while Selling and Administrative costs rose only 1.6%. Operating Profit rose to LKR 479 Mn from LKR 174 Mn.
Valuation at LKR 28.60
Group figures, profit attributable to equity holders. EPS of LKR 3.07 is LKR 1,606 Mn over 522.4 Mn shares; the last 12 months are FY2025/26 + 1H FY27 − 1H FY26.
Three things to watch next quarter
- Bangladesh. Can it keep growing this fast? Revenue there rose 55.9% YoY in 2Q.
- Mirotone. How it performs as it relaunches in Australia.
- Selling costs. Do they settle? They rose 59.9% YoY, faster than Revenue.
The company
Capital Trust Securities. For information only. Not investment advice. Source: JAT Holdings PLC interim financial statements to 30 September 2026 (unaudited). Group figures.