Key changes in top 25 market cap companies in 2020

• Browns Investments and Expolanka emerge as two biggest winners 

Browns Investment PLC and Expolanka Holdings PLC emerged as two of the most improved listed corporates on the Colombo Stock Exchange (CSE), in terms of market capitalisation, at end-2020.

Browns Investment PLC finished 2020 as the ninth largest listed company, in terms of market capitalisation, improving from the 23rd place one year ago.

The market capitalisation of Browns Investment PLC rose to Rs.61.7 billion at end-2020, from Rs.23.9 billion a year ago.

Meanwhile, its parent LOLC Holdings, which was ranked the sixth, in terms of market capitalisation at end-2019, finished 2020 at the eighth spot.

Expolanka Holdings became a new entrant to the top 25 firms, with the largest market capitalisations in 2020, reaching the 13th place. At end-2020, Expolanka had a market capitalisation of Rs.56.6 billion, compared to Rs.9.9 billion one year ago.

Commercial Bank of Ceylon PLC became the sole financial institution among top 15 firms, with the largest market capitalisation at end-2020, with HNB and Sampath Bank 
falling behind. 

However, the market capitalisation of Commercial Bank fell to Rs.88.9 billion at end-2020, from Rs.91.3 billion at end-2019 and it lost the fourth spot to Distilleries Company of Sri Lanka (DCSL), which finished the year with Rs.94.3 billion in market capitalisation. 

Although adding Commercial Bank’s non-voting shares narrows the gap with DCSL sharply, it still remains behind DCSL.

HNB finished 2020 at the 16th place, with Rs.51.9 billion in market capitalisation, compared to the ninth spot it held with Rs.69.1 billion one year ago. However, when HNB’s non-voting shares taken into account, it is ranked at the ninth place.  

Sampath Bank was ranked just behind HNB, with a market capitalisation of Rs.51.7 billion at end-2020, compared to the 10th spot it enjoyed one year ago.

In addition, Central Finance, People’s Leasing and DFCC Bank, fell out of the top 25 firms with market capitalisation at end-2020.

Meanwhile, Asiri Hospital Holdings PLC entered into the top 25 list, with Rs.39.2 billion market capitalisation in 2020, after missing the mark by a notch in 2019. 

Further, Dhammika Perera-controlled Vallibel One also became a new entrant to the top 25 list of 2020.

JKH and Ceylon Tobacco Corporation and Dialog finished the year as the top three companies, with the largest market capitalisations. 

Overall, the diversified sector dominated rankings by accounting for 11 out of the top 25 slots and these 11 firms accounted for 22 percent of the total market cap at end-2020.