JAT sees 1Q bottom-line expand 77% YoY

Aelian Gunawardene – MD	Nishal Ferdinando - CEO

JAT Holdings PLC – Sri Lanka’s market leader in wood coatings, paint brushes, and rollers – recently released its financials for 1Q of FY 2025, noting strong growth in both its top and bottom-line. 

Accordingly, revenues rose by 3 percent to Rs. 2.2 billion compared with the same period in the previous year, driven by noticeable growth in the wood coatings and paint brushes categories. Profit After Tax (PAT) also demonstrated significant growth, expanding by 77 percent YoY for the quarter under review to record Rs. 124 million, up from Rs. 70 million in the same quarter of the previous year. 

During the quarter under review JAT was also able to record 41 percent growth in project sales, 15 percent growth in wood coatings including Sayerlack – its flagship wood coating product, and 47 percent growth in the paint brushes category. 

JAT Holdings PLC recorded a 5 percent growth in gross profits, though growth was subdued by unfavourable exchange rate volatility in the Bangladeshi Taka. 

However, operating profits contracted by 27 percent due to rising overheads as the Group expanded its operations in Bangladesh. 

Meanwhile, profit before tax grew by 37 percent against the same quarter in the previous year, on account of increased operational efficiencies and favourable movements in the exchange rate of the Sri Lankan Rupee. 
Founder and Managing Director Aelian Gunawardene added, “Relying on strategic decision-making, and leveraging the business acumen of our management team, we have been able to harness efficiencies across our supply chain, particularly in terms of our own acrylic binder and alkyd resin plants now being operational, to deliver exceptional value to our stakeholders. 

Furthermore, our heavy investments into marketing and customer loyalty programmes have demonstrably delivered, allowing us to keep sales steady, and even achieve growth, amidst adverse-weather-driven market conditions that generally result in a contraction in sales volumes for the industry. Thus, we remain committed to our growth strategy and to our loyal customers and communities, while also reaffirming our dedication to sustainable manufacturing.”