Sunshine Holdings Plc · CSELK:SUN.N0000
Sunshine — 2QFY26 Earnings Presentation
38 slides from Sunshine's earnings presentation, Nov 10, 2025
Slide 1: 2QFY26 Earnings Webinar
2QFY26 Earnings Webinar Sunshine Holdings PLC 10 November 2025
Slide 2: Housekeeping Announcements
Housekeeping Announcements • The webinar will be recorded and later uploaded to our IR website as well as CSE website for future reference (https://www.sunshineholdings.lk/investor-relations/) • All participants will be muted during the presentation • Participants can use the 'Raise Hand' option to
Slide 3: Team
Team Sunshine Holdings Sunshine Healthcare Shyam Sathasivam Shantha Bandara Dr. Thiru Sayandhan Farman Nizar Group CEO CEO - Sunshine Pharmaceuticals CEO - Sunshine Medical Devices COO - Healthguard Pharmacy and Healthguard Distribution and Lina Manufacturing Sunshine Consumer Aruna Deepthikumara An
Slide 4: Corporate Announcements
Corporate Announcements • Sunshine Holdings PLC has declared a first interim dividend of Rs. 0.60 per share for FY26 (XD date - 17 Nov 2025, Payment date - 05 Dec 2025) • Watawala Plantations PLC declared a first interim dividend of Rs. 1.70 per share for FY26 (XD date: 14 Nov 2025; payment date: 03
Slide 5: Group Performance
Group Performance
Slide 6: Group at a glance – 2QFY26
Group at a glance – 2QFY26 Revenue Composition – 2QFY26 LKR 2.8bn LKR 1.3bn LKR 0.35 11.3% YoY -14.7% YoY -43.7% YoY Agriculture EBIT Earnings EPS 23.0% 16.5% 22.8% 23.5% LKR 10.53 LKR 16.4bn -5.0 pts YoY +0.1 pts YoY 4.7% YoY 53.1% Healthcare 3.7% 1.7% Gearing ROE NBV 30.4% Consumer 1.5% LKR 64.0bn
Slide 7: Key ratios – 1HFY26
Key ratios – 1HFY26 INVESTOR RATIOS PROFITABILITY RATIOS 1HFY26 1HFY25 1HFY26 1HFY25 LKR 1.92 LKR 2.07 31.9% 30.4% EPS TTM EPS TTM 23.49% 23.41% GP Margin GP Margin ROE ROE 17.0% 15.4% 16.95 7.47 EBIT Margin EBIT Margin PER TTM PER TTM 10.53 10.06 NAV NAV 9.2% 9.7% 3.09 1.54 PAT Margin PAT Margin PB
Slide 8: Group – Performance Highlights
Group – Performance Highlights LKR m 2QFY26 2QFY25 YoY % 1QFY26 QoQ % Revenue 16,396 15,812 3.7% 15,893 3.2% EBIT 2,846 2,557 11.3% 2,645 7.6% EBIT margin 17.4% 16.2% 16.6% PAT 1,320 1,548 -14.7% 1,660 -20.5% PAT margin 8.0% 9.8% 10.4% EPS (LKR) 0.35 0.63 -43.7% 0.51 -31.0% • Driven by margin expans
Slide 9: Movement in Revenue & EBIT
Movement in Revenue & EBIT Revenue Movement [LKR Million] EBIT Movement [LKR Million] 69 2,846 505 8 16,396 596 15,812 145 2,557 (74) 150 (527) 2QFY25 Revenue Healthcare Consumer Brands Agriculture Other 2QFY26 Revenue 2QFY25 EBIT Healthcare Consumer Brands Agriculture Other 2QFY26 EBIT Revenue Comp
Slide 10: Healthcare
Healthcare
Slide 11: Sunshine Healthcare Lanka: integrated healthcare company
Sunshine Healthcare Lanka (SHL) is Sri Lanka’s only fully integrated healthcare company encompassing the entire pharma value chain Government and Local market Manufacturing and R&D Revenue Split 2QFY26 Sri Lanka’s first facility for Respiratory Care Manufacturing Capsules Tablets Nasal Spray Devices
Slide 12: Healthcare Sector – Highlights
Healthcare Sector – Highlights Sector Highlights 8,569 8,650 8,619 8,714 Healthcare sector revenue grew 1.7% YoY in 2QFY26, driven by 7,804 sustained momentum across the agency, distribution, and retail businesses However, the sector’s overall profitability was impacted by a slowdown in the manufact
Slide 13: Sunshine Pharmaceuticals – Performance Highlights
Sunshine Pharmaceuticals – Performance Highlights Business Highlights 8,877 The pharmaceutical segment’s revenue grew by 64.8% YoY in 2QFY26, driven by the internal realignment of the business model. 5,385 5,137 4,609 4,033 Adjusting for this one-off impact, the RD segment grew 9.1% YoY during the 1
Slide 14: Healthguard Distribution – Performance Highlights
Healthguard Distribution – Performance Highlights Business Highlights 5,869 5,894 The Distribution segment’s revenue grew by 17.4% YoY in 2QFY26, driven by a significant volume increase of 21.4% YoY during the 5,021 5,130 5,177 quarter This volume growth was mainly due to the business model realignm
Slide 15: Sunshine Medical Devices – Performance Highlights
Sunshine Medical Devices – Performance Highlights Business Highlights 1,437 1,251 1,237 1,157 1,151 The Medical Devices segment recorded a 6.9% YoY revenue growth in 2QFY26, reflecting improved performance during the quarter 2QFY25 3QFY25 4QFY25 1QFY26 2QFY26 Revenue (LKR Mn) Investor Metrics 2QFY25
Slide 16: Lina Manufacturing – Performance Highlights
Lina Manufacturing – Performance Highlights Business Highlights 1,459 During 2QFY26, revenue from the manufacturing business declined 1,095 by 15.0% YoY, primarily due to the reduction in government 906 931 purchase orders for the 2025 calendar year 437 2QFY25 3QFY25 4QFY25 1QFY26 2QFY26 Revenue (LK
Slide 17: Healthguard Pharmacy – Performance Highlights
Healthguard Pharmacy – Performance Highlights Business Highlights 752 735 The retail segment, Healthguard Pharmacy, recorded a 12.9% YoY 713 increase in revenue for 2QFY26, driven by volume and value growth 694 across both pharmaceutical and wellness ranges 666 2QFY25 3QFY25 4QFY25 1QFY26 2QFY26 Rev
Slide 18: Consumer Brands
Consumer Brands
Slide 19: Sunshine Consumer, Market leader in branded tea and confectionery
Sunshine Consumer, Market leader in branded tea and confectionery Brand Portfolio Revenue Split 2QFY26 Tea Inter Co. / Other Largest branded tea company in Sri Lanka – 49.2% market Exports share* -1% *Peppercube Retail Measurement Survey Value Share Tea 36% Catering to three distinct need and value
Slide 20: Consumer Sector – Highlights
Consumer Sector – Highlights Sector Highlights 5,056 4,708 4,781 4,983 The Consumer sector, including both export and domestic 4,373 businesses, recorded a slight revenue decline of 1.5% YoY in 2QFY26, primarily due to weaker performance in the export segment. Segment profitability, however, continu
Slide 21: Tea – Performance Highlights
Tea – Performance Highlights Business Highlights 2,631 Revenue from the Branded Tea business grew by 8.3% YoY to LKR 2.6 Bn in 2QFY26, driven by the continued success of region 2,429 2,454 2,433 specific strategies and brand-building initiatives. 2,276 Our core tea brands, Zesta, Watawala Thei and R
Slide 22: Confectionery – Performance Highlights
Confectionery – Performance Highlights Business Highlights 589 557 Revenue from the Confectionery business declined by 5.5% YoY in 529 494 2QFY26 due to heightened competition. However, the segment maintained steady momentum quarter-over-quarter, recording a 404 5.3% increase. 2QFY25 3QFY25 4QFY25 1
Slide 23: Exports – Performance Highlights
Exports – Performance Highlights Business Highlights 2,038 2,066 Despite an increase in export volumes, the business recorded a 1,851 1,850 revenue contraction of 9.2% YoY in 2QFY26 to reach LKR 1.9 Bn. 1,532 This was mainly due to a reduction in high-value tea product categories following the adver
Slide 24: Agribusiness
Agribusiness
Slide 25: Watawala Plantations: palm oil and dairy farming
Watawala Plantations PLC primarily engages in palm oil and dairy farming Revenue Split 2QFY26 Palm Oil Dairy A land extent of ~3,400 Ha under palm oil cultivation 11% The first in South Asia to receive RSPO certification for sustainable oil palm plantation Positioning – largest oil palm cultivator i
Slide 26: Agribusiness – Highlights
Agribusiness – Highlights 2,698 Sector Highlights 2,492 2,193 The Agribusiness sector reported revenue of LKR 2.7 Bn in 1,919 2QFY26, reflecting a 23.0% YoY improvement, driven by the 1,767 performance of the palm oil business. 1,329 1,216 GP margin for 2QFY26 improved to 57.6% from 42.1% same perio
Slide 27: Palm Oil – Performance Highlights
Palm Oil – Performance Highlights Business Highlights 2,398 2,213 The Palm Oil segment recorded a 26.1% YoY improvement in 1,902 revenue in 2QFY26, driven by both volume growth and favorable 1,652 1,468 Net Sales Averages for CPO and KPO. 1,385 1,231 968 667 624 2QFY25 3QFY25 4QFY25 1QFY26 2QFY26 Re
Slide 28: Dairy – Performance Highlights
Dairy – Performance Highlights Business Highlights 291 299 279 300 267 The dairy business recorded a 2.9% YoY improvement in revenue improvement in 2QFY26, driven by increase in milk sales volumes during the quarter. 38 1 -15 -44 -40 2QFY25 3QFY25 4QFY25 1QFY26 2QFY26 Revenue (LKR Mn) EBIT (LKR Mn)
Slide 29: Q&A
Q&A
Slide 30: Appendix
Appendix
Slide 31: Sunshine Pharmaceuticals – Market Dynamics
Sunshine Pharmaceuticals – Market Dynamics During 2Q IQVIA, the market experienced a growth of 7.3% (2025 MAT%) 13.0% 13.0% 70% 14% 12.8% 64.8%* 14% 13% 13% 60% 12% 10.4% 12% 10.3% 11% 11% 50% 10% 10% 9% 9% 40% 8% 8% 7% 7% 30% 26.7%* 6% 6% 5% 5% 20% 17.5% 17.5% 16.9% 4% 14.3% 4% 10.5% 12.0% 3% 8.1%
Slide 32: Sunshine Medical Devices – Market Dynamics
Sunshine Medical Devices – Market Dynamics 90% 89% 88% 88% 88% 86% 85% 81% 82% 81% 81% 80% 79% 77% 77% 77% 77% 76% 75% 70% 73% 4QFY24 1QFY25 2QFY25 3QFY25 4QFY25 1QFY26 2QFY26 Hospital Occupancy Lab Tests Operation Theaters Source – Management Information
Slide 33: Brand Value Market Share (%) – Tea
Brand Value Market Share (%) – Tea 100.0 90.0 23 24 23 23 26 26 28 28 30 27 27 27 28 28 27 27 29 29 28 29 28 29 28 32 31 80.0 9 9 8 70.0 9 9 9 6 6 6 5 5 5 8 7 6 5 5 5 5 5 5 5 6 7 4 60.0 50.0 46 45 46 46 45 45 47 47 48 49 49 48 48 45 46 45 48 49 48 48 47 50 48 49 40.0 44 30.0 20.0 10.0 21 22 23 23 21
Slide 34: Brand Value Market Share (%) – Confectionary
Brand Value Market Share (%) – Confectionary 100.0 90.0 22 22 22 23 24 23 23 24 24 25 25 25 80.0 70.0 18.5 18.3 16.3 15.4 14.7 14.4 14.5 14.2 19.5 17.7 17.6 15.1 Market Share % 60.0 50.0 36.8 36.1 34.9 34.3 35.1 36.7 35.6 37.2 37.1 35.6 36.4 40.0 36.0 30.0 20.0 22.0 22.7 23.8 24.0 23.9 25.5 24.8 25.
Slide 35: Price Index – Tea and Confectionary
Price Index – Tea and Confectionary Tea Price Index Confectionery Price Index 210 203 203 203 203 203 203 203 203 203 203 203 203 203 203 203 203 203 203 170 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167 167167 193 193 193 190 149 149 150 148
Slide 36: Agribusiness – Price Movement
Agribusiness – Price Movement Settlement Price (RM) WDL's Avg Milk Price (LKR) 5,500 232 230 5,000 229 228 MALAYSIAN RINGGITS – RM 4,500 228 226 4,282 4,171 4,000 224 3,500 222 3,000 220 2,500 218 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 September-24 Novemb
Slide 37: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements that are based on management’s current expectations and assumptions. Forward-looking statements include predictions of future results or activities and may contain the words “expects,” “believes,” “should,” “will,” “ant
Slide 38: Thank you!
Thank you! For more information, Please visit our Investor Relations page https://www.sunshineholdings.lk/investor-relations/