Colombo, Sri Lanka – August 14, 2026 – Namunukula Plantations PLC (CSE: NPL) has announced its unaudited interim financial statements for the first quarter ended June 30, 2026, showcasing a strong start to the financial year with a significant increase in net profit. The agricultural giant, a prominent entity within Sri Lanka’s plantation sector, reported a 7% surge in net profit for the period, primarily driven by exceptional performance in its oil palm segment and enhanced finance income.
These interim results, officially released on August 13, 2026, provide valuable insights into NPL’s operational resilience and strategic positioning amidst dynamic market conditions. The company’s continued focus on diversified agricultural production, particularly its lucrative oil palm segment, appears to be yielding positive returns.
Financial Performance Highlights
For the quarter ended June 30, 2026, Namunukula Plantations PLC recorded a net profit of Rs. 504.43 million, marking a commendable 7% increase compared to Rs. 471.27 million reported in the corresponding period of the previous year. This growth was achieved on the back of a 4% rise in total revenue, which reached Rs. 1,306.08 million from Rs. 1,260.18 million a year ago.
While the company experienced a slight 2% dip in gross profit to Rs. 624.52 million due to a 10% increase in the cost of sales, the overall pre-tax profit saw a modest 1% improvement to Rs. 677.55 million. This was significantly cushioned by:
- A 17% increase in finance income, rising to Rs. 153.38 million from Rs. 130.72 million.
- A 24% growth in the share of profit from the Joint Venture, contributing Rs. 73.58 million.
Basic Earnings Per Share (EPS) for the quarter stood at Rs. 2.12, an improvement from Rs. 1.98 in the prior year, reflecting the enhanced profitability. It is important to note that these per-share figures have been adjusted for comparability following a 1:10 share subdivision carried out in the fourth quarter of the financial year 2025/26, which increased the number of issued shares from 23,750,001 to 237,500,001.
Balance Sheet Stability and Asset Growth
NPL’s Statement of Financial Position as at June 30, 2026, revealed continued strength, with total assets expanding to Rs. 15.90 billion, up from Rs. 14.51 billion in the previous year. Total equity also witnessed healthy growth, reaching Rs. 12.39 billion compared to Rs. 11.03 billion on June 30, 2025.
Net Assets Per Share, post-share subdivision adjustment for comparison, improved significantly to Rs. 52.18 as at June 30, 2026, from an adjusted Rs. 46.43 (Rs. 464.27 unadjusted) in the previous corresponding period. The company also maintained a robust cash and cash equivalents position of Rs. 7.49 billion.
Segmental Performance: Oil Palm Leads the Way
A detailed look at the segmental revenue underscores the pivotal role of oil palm in Namunukula Plantations’ growth trajectory:
- Oil Palm: Revenue soared to Rs. 924.34 million from Rs. 809.66 million, demonstrating a strong performance in this key segment.
- Tea: Revenue experienced a decline, falling to Rs. 340.42 million from Rs. 400.48 million.
- Rubber: Remained largely stable at Rs. 25.32 million.
- Coconut & Cinnamon: Both segments recorded declines in revenue compared to the previous year.
Corporate Developments and Share Information
The company’s market capitalization stood at Rs. 16.27 billion as at June 30, 2026. The last traded price per share was Rs. 68.50, reflecting a substantial increase from the adjusted Rs. 40.03 (Rs. 400.25 unadjusted) in the corresponding period last year, demonstrating positive investor sentiment post-subdivision.
Notably, Ms. D Kusalani De Silva was appointed as the Treasury Representative to the Board of Directors with effect from April 09, 2026, replacing Ms. C.S. Perera. The company also noted ongoing legal proceedings related to employees’ statutory dues concerning sub-leased estates, with arguments concluded and judgment reserved in a Supreme Court appeal.
Namunukula Plantations PLC, incorporated in Sri Lanka and listed on the Colombo Stock Exchange (CSE), is primarily engaged in the cultivation, manufacture, and sale of tea, rubber, oil palm, coconut, and cinnamon plantations. Richard Pieris & Company PLC remains the ultimate parent enterprise, holding 67.98% of the voting shares through RPC Plantation Management Services (Pvt) Ltd.
These interim financial statements, while unaudited, have been prepared in compliance with Sri Lanka Accounting Standards (SLFRS/LKAS) and the Companies Act No. 07 of 2007, reflecting the company’s commitment to transparency and robust financial reporting.
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