Healing with feeling: rooted in care-towards excellence
ANNUAL REPORT 2024/25
For decades, Nawaloka has been healing with feeling, placing care foremost as we continued to redefine private healthcare. From clinical precision to digital innovation, every advance we make is shaped by the need of our people and values we stand for.
We’re building a future of healthcare that is not only advanced but deeply human – for the world.
Contents
Overview
8 Financial Highlights 9 Awards and Accreditations Leadership 11 Chairman’s Message 13 Deputy Chairman’s Message 15 Director/General Manager’s Review 17 Board of Directors 23 Senior Management Team 28 Executive Clinical Management Team 30 Strategic Value Creation 31 Value Creation Model 32 Stakeholder Engagement Management Discussion and Analysis 34 Operating Environment 37 Clinical Excellence and Patient Care Outcomes 44 Financial Sustainability 49 People and Knowledge 57 Sustainability and Stewardship 62 Medtech Integration | Organisational Stewardship 66 Risk Management 70 Corporate Governance 84 Annual Report of the Board of Directors
Financial Information
104 Statement of Profit or Loss and Other Comprehensive 105 Statement of Financial Position 106 Statement of Changes in Equity 107 Statement of Cash Flows 109 Notes to the Financial Statements Supplementary Information 169 Investor Information 171 Ten Year Financial Summary 173 Notice of Meeting Enclosed Form of Proxy Inner Back Cover Corporate Information | icer Statement of Responsibility Income |
OVERVIEW
LEADERSHIP MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
We are pleased to present our 13th Integrated Annual Report which sets out the performance of Nawaloka Hospitals PLC and its subsidiaries (hereinafter referred to as the “Nawaloka”) for the financial year ended 31 March 2025.
The Report provides a comprehensive and cohesive view of our performance during the financial year in review.
Scope and BoundaryThe Report covers the activities of the Group – Nawaloka Hospitals PLC and its three subsidiaries New Nawaloka Hospitals (Private) Ltd., New Nawaloka Medical Centre (Private) Ltd., and Nawaloka Laboratories (Private) Ltd., and equity accounted investees –Nawaloka College of higher studies (Private) Ltd. for the period
01 April 2024 to 31 March 2025. An annual reporting cycle has been adopted and the most recent report for the financial year ended 31 March 2024 is available on our website https://www.nawaloka.com.
Reporting StandardsThe following frameworks were used to prepare the report moving beyond regulatory compliance to incorporate international best
practices into our reporting processes.
Financial ReportingSri Lanka Financial Reporting Standards
Companies Act No. 07 of 2007
Sri Lanka Accounting and Auditing Standards Act No. 15 of 1995
Narrative ReportingIntegrated Reporting Framework of the IFRS Foundation
Sustainability Accounting Standards Board (SASB) –Healthcare Delivery Sector
Corporate GovernanceContinuing Listing Requirements of the Colombo Stock Exchange and Corporate Governance Rules
Code of Best Practice on Corporate Governance 2023 issued by CA Sri Lanka
governance, performance, and prospects; within the context of the external environment.
Quality AssuranceThe Group has obtained an independent opinion on the Financial Statements from its External Auditors Messrs KPMG (Chartered Accountants) which is set out on pages 100 and 103 of this Report.
Digital FormatFor the first time, Nawaloka Hospitals PLC is presenting its Annual Report in a comprehensive end-to end HTML version and as an interactive PDF, offering enhanced accessibility and seamless navigation for all stakeholders. This innovative approach reflects
our broader commitment to embracing digital transformation and leveraging Artificial Intelligence to optimise our operations.
Scan to view the comprehensive end-to-end online HTML version.
Scan to view the Interactive PDF version.
FeedbackWe welcome feedback from all stakeholders to continuously improve our reporting practices and enhance stakeholder engagement. Kindly share your comments and suggestions with us at:
Chief Financial Officer
Nawaloka Hospitals PLC
No. 23, Deshamanya H K Dharmadasa Mawatha, Colombo 02, Sri Lanka.
Email: cfo@nawaloka.com Tel: +94 11 557 7111
OVERVIEW
LEADERSHIP MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Established 40 years ago, Nawaloka Hospital’s innovative spirit has continued to set the benchmark for excellence in the private healthcare sector. Our consistent commitment to accessible, compassionate and technologically advanced care has earned Nawaloka Hospitals the trust of generations. We continue to deliver on our founding vision of
transforming healthcare in the country by aligning patient needs with medical innovation and global standards.
Vision
“To be the Hospital
of Tomorrow”, to provide quality and safe healthcare to the people whilst maintaining leadership and excellence in the
healthcare facility.
Celebrating 40 Years of Healthcare ExcellenceIn September 2025, we celebrated our 40th anniversary, a milestone that reflects four decades of pioneering private healthcare in Sri Lanka. Since our inception in 1985, we have remained steadfast in our mission to deliver world-class clinical care, blending compassion with innovation. Over the years, we have introduced advanced technologies, nurtured medical expertise, and upheld the highest ethical standards, earning the trust of generations of patients. This anniversary is not only a celebration of our legacy but also a reaffirmation of our commitment to shaping the future of healthcare with resilience, excellence, and patient-centric values.
Mission
“Healing with Feeling”,
to provide the best quality healthcare in accordance with international standards to the needy in a
cost-effective,
timely and professional manner.
Values
Strengthen Safety and Quality
Drive Innovation, Technology and Research
Enable Our People
Plan for a Sustainable Future Achieve Financial Health
Anchored in our core aspirations to become a next generation healthcare provider, Nawaloka Hospitals remained resilient balancing innovation with a sustainable outlook to create lasting value for
all stakeholders.
OVERVIEW
LEADERSHIP MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Organisational Overview
Our Group The Nawaloka Hospital was established in 1985 by our founder Chairman Deshamanya H K Dharmadasa. It has since expanded to a Group consisting of Nawaloka Hospitals PLC and three 100% owned subsidiaries and one equity accounted investee. Nawaloka Hospitals PLC was listed on the Colombo Stock Exchange in 2004. New Nawaloka Hospitals (Private) Ltd. FULLY OWNED SUBSIDIARIES New Nawaloka Medical Centre (Private) Ltd. Nawaloka Laboratories (Private) Ltd. EQUITY ACCOUNTED INVESTEES Nawaloka College of Higher Studies (Private) Ltd. | New Nawaloka Medical Centre (Private) Ltd Healthcare services New Nawaloka Medical Centre (Private) Ltd caters to outpatient and preventive care needs, offering accessible, tech enabled services. It plays a vital role in early diagnosis, wellness programmes and continuous patient engagement. Nawaloka Laboratories (Private) Ltd Laboratory services Incorporated in 2017 under the Companies Act, Nawaloka Laboratories (Private) Ltd provides high quality laboratory and diagnostic services. With a growing network and modern infrastructure, it ensures reliable, timely testing that supports both hospital operations and independent clinical referrals across Sri Lanka. | |||||||
Nawaloka Hospitals PLC (Parent Company) Healthcare services As our flagship entity, Nawaloka Hospitals PLC serves as the foundation of the Group’s healthcare operations and stands tall as one of Sri Lanka’s leading private multi specialist medical service providers. It delivers advanced tertiary and specialised care, setting benchmarks in clinical excellence, patient safety and ethical governance while steering the Group’s long-term growth and strategic direction. | New Nawaloka Hospitals (Private) Ltd Healthcare services A wholly owned subsidiary incorporated in Sri Lanka under the Companies Act, New Nawaloka Hospitals (Private) Ltd extends the Group’s presence in the healthcare sector. It supports the parent company’s mission by expanding access to specialised medical services and boosting capacity in patient care. | |||||||
OVERVIEW
LEADERSHIP MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Organisational Overview
Award for Outstanding Waste Management Practices 2024 – Commitment to Environmental Sustainability
This award highlighted Nawaloka’s leadership in sustainable healthcare operations. Through advanced waste management and eco-conscious practices, the Hospital demonstrated
environmental responsibility, bolstering its CSR profile and resonating with environmentally conscious stakeholders.
The Five Crowns Award for Clinical Excellence –A Benchmark for Quality Care This prestigious recognition highlighted Nawaloka’s superior clinical governance, patient safety standards, and outcomes-driven care. It amplified brand prestige and reassured stakeholders of the Hospital’s ability to uphold world-class clinical practices in a competitive healthcare landscape. |
Awards and Recognition |
Great Place to Work Certification 2024 –Recognising an Inclusive and Engaged Workplace Culture This certification showcased Nawaloka’s strong organisational culture and employee engagement. It translated into improved staff retention, elevated morale, and better patient care outcomes – demonstrating the Hospital’s understanding of the critical link between workforce satisfaction and service excellence. |
National Business Excellence Award 2024 – Acknowledging Strategic Leadership and Innovation Recognition at the National Business Excellence Award affirmed Nawaloka’s holistic value creation across strategic leadership, financial resilience, and innovation. It strengthened the Hospital’s corporate reputation and investor confidence while validating its digital transformation initiatives in a rapidly evolving healthcare environment. |
Official Healthcare Partner of Sri Lanka Cricket – Eight Consecutive Years of Sports Medicine Excellence
Nawaloka’s eight-year partnership with Sri Lanka Cricket underscores our expertise in high-performance sports
medicine and rehabilitation. This enduring alliance enhanced
brand visibility at a national level, reinforced trust in Nawaloka’s specialised care capabilities, and positioned the Hospital as
a pioneer in athlete-focused healthcare. It created shared value by supporting national sports while elevating the
Hospital’s profile as a leader in integrated, performance-oriented medical services.
Key Sponsorships
We consistently craft out a path of progress by adopting cutting-edge medical technology, enhancing patient care and improving our standards and processes. This commitment is institutionalised through the work of our Quality and Accreditation Department, which ensures that excellence is not just an aspiration but a standard across all operations. As the first ISO-certified private hospital in Sri Lanka, Nawaloka has established a reputation for compliance, evidence-based practices, and sustainable healthcare delivery. Over, the years, we have maintained globally recognised benchmarks, obtained compliance certifications and won recognition from prestigious entities, and delivered world-class care.
ISO 9001:2015 Certification Renewal –Ensuring Quality Service Delivery
9001:2015
The successful renewal of ISO 9001:2015 underscored Nawaloka’s sustained commitment to quality, leadership accountability, and customer satisfaction. This continuity in certification positioned the hospital as a reliable
healthcare provider, reinforcing long-term patient loyalty and operational stability.
Adherence to Best Practices
ISO 15189:2012 SLAB Accreditation for
Diagnostic and Laboratory Excellence
SLAB accreditation under ISO 15189:2012 validated the accuracy, precision, and timeliness of Nawaloka’s diagnostic
services. This enhanced the Hospital’s clinical credibility and diagnostic reliability, directly supporting better health outcomes and attracting both local and international patients seeking trustworthy lab services.
OVERVIEW
LEADERSHIP MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Organisational Overview
Clinical excellencePatient careSurgeries performed: | Channel appointments: | Beds: |
12,899 | 437,464 | 330+ |
Channel appointment: In-patient admission:
437,464 22,585
Island-wide lab network
Financial
Revenue Rs. 11,013 Mn.
Net profit Rs. 56 Mn.
EmployeesMain labs
4
Mini labs
5
COCO
(Company-owned; Company Operated)
13
Total assets Rs. 20,024 Mn.
Equity Rs. 4,913 Mn.
Total employees:
Qualified nurses:
Training investments:
1,996 425 Rs. 1.9 Mn.
Training hours: | Gender ratio: (M:F) | Employees with 10+ years’ service: |
7,936 | 3:7 | 60 |
Energy consumed: | Water usage: |
9,522,986 kWh | 235,812 m3 |
Property, plant and equipment: In-house pharmacies:
Rs. 15,937 Mn. 7
Highlights
Launch of South Asia’s first AI-powered Radiology Centre
AI-powered Medical Evaluation Service
Plan for 2025
Investments in AI-powered clinical systems
Continued investment in technology-driven diagnostics and expanded channelling services.
The integration of robotic surgical tools
Rollout of mini-medical centres and diagnostic labs
Nawaloka Hospitals PLC Annual Report 2024/257
OVERVIEW
LEADERSHIP MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Financial HighlightsFor the year ended 31 March | 2025 | 2024 | Change |
Rs. | Rs. | % | |
INCOME STATEMENT DATA Revenue | 11,012,689,270 | 10,379,164,804 | 6.10 |
Operating profit | 1,008,243,743 | 1,024,615,844 | (1.60) |
Profit/(loss) before tax | 336,642,651 | (247,007,212) | 236.29 |
Profit/(loss) after tax | 56,381,099 | (304,747,263) | 118.50 |
Total comprehensive income/(expense) for the year | 327,464,971 | (338,102,459) | 196.85 |
Gross profit | 5,878,494,104 | 5,616,640,676 | 4.66 |
Gross profit margin (%) | 53.38 | 54.11 | (1.35) |
Operating profit margin (%) | 9.16 | 9.87 | (7.24) |
Net profit/(loss) margin (%) | 0.51 | (2.94) | 117.41 |
Return on asset (ROA) (%) | 5.04 | 5.00 | 0.71 |
Return on capital employed (ROCE) (%) | 8.99 | 22.00 | (59.14) |
Return on equity (ROE) (%) | 1.15 | (7.00) | (116.39) |
Interest cover (Times) | 1.12 | 1.00 | 12.24 |
FINANCIAL POSITION Total assets | 20,023,511,885 | 18,695,046,547 | 7.13 |
Total liabilities | 15,110,648,486 | 14,109,648,119 | 7.12 |
Shareholders’ equity | 4,912,863,399 | 4,585,398,428 | 7.14 |
Debt/equity ratio (%) | 1.36 | 0.75 | 81.28 |
Net assets per share | 3.49 | 3.25 | 7.25 |
Current ratio (Times) | 0.32 | 0.25 | 27.67 |
Quick assets ratio (Times) | 0.27 | 0.21 | 28.44 |
SHAREHOLDER INFORMATION Number of shares in issue | 1,409,505,596 | 1,409,505,596 | – |
Earnings per share | 0.04 | (0.22) | 118.18 |
Dividend per share | – | – | – |
OVERVIEW
11 Chairman’s Message 13 Deputy Chairman’s Message 15 Director/General Manager’s Review 17 Board of Directors
23 Senior Management Team 28 Executive Clinical Management Team 30 Strategic Value Creation
31 Value Creation Model 32 Stakeholder Engagement
LeadershipLEADERSHIP
OVERVIEW MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Chairman’s MessageThe year 2024/25 marked the strategic evolution of Nawaloka Hospitals Colombo PLC, steered by the
foundation of resilience of the past few years to embrace innovation, clinical excellence and patient care.
The year 2024/25 marked the strategic evolution of Nawaloka Hospitals Colombo PLC, where the resilience of recent years was transformed into renewed momentum for growth. Our core focus on patient wellbeing, technology adaptation, process improvements, and ethical stewardship shaped our progress and illustrated our undisputed leadership in the private healthcare sector in Sri Lanka. In this backdrop, I am pleased to present the financial and non-financial performance of Nawaloka Hospitals Colombo PLC for the financial year 2024/25. In spite of industry-wide cost pressure, Nawaloka recorded a revenue of Rs. 11,013 Mn., indicating a 6% year-on-year growth. Meanwhile, our net profit after tax reached Rs. 56 Mn., representing a year-on-year growth of 119%. Medical tourism and increased patient volumes supported this turnaround, reflecting the strength of our strategy. Following the close of the financial | year, the Group concluded a landmark debt settlement with Hatton National Bank PLC. This achievement has fortified our financial foundation, strengthened our financial stewardship, and enhanced our ability to channel resources into future growth. The successful resolution of this facility with HNB stands as a clear endorsement of the trust and confidence placed in Nawaloka Hospitals, and provides us with a stronger platform to pursue our long-term strategic ambitions while consistently delivering sustainable value to our stakeholders. Furthermore, the share price of Nawaloka Hospitals, which stood at Rs. 3.90 as of 31 March 2024, has since appreciated to Rs. 8.00. This outstanding performance has elevated our market capitalisation from approximately Rs. 5.5 Bn. to Rs. 11.3 Bn., reflecting growth of more than 105%. When compared with our Group net assets of Rs. 4.9 Bn., this valuation at over 2.3 times | book value is a clear testament to investor confidence and the substantial wealth created for our shareholders. This achievement was made possible by the collective and unwavering commitment of our staff, whose dedication continues to drive our success. At Nawaloka, we remain a step ahead, ensuring our patients experience tomorrow’s healthcare today. This forward-looking approach earned us recognition as the Leading Hospital in AI & Innovation – Asia Pacific 2025 at the Global Health Asia Pacific Summit in Bangkok, and honored for excellence in the Healthcare Sector at the National Business Excellence Awards. |
LEADERSHIP
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MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION
SUPPLEMENTARY INFORMATION
Chairman’s Message
StewardshipOur governance culture, shaped by the “Do No Harm”
approach, anchors our integrity. Ethical stewardship guides us in clinical, financial, and social spheres, ensuring patient safety, fairness, and accountability. Oversight of ESG initiatives, data protection, and clinical integrity is embedded in our governance framework, with the Board ensuring alignment to national and international standards.
Future OutlookWith a stable foundation, Nawaloka Hospitals Colombo PLC is well-positioned to meet evolving healthcare needs through technology, infrastructure, knowledge, and partnerships, while remaining dedicated to creating sustainable value
for all stakeholders.
I extend my heartfelt gratitude to the Board of Directors for their guidance, to our consultants for their expertise, to our employees for their loyalty and professionalism, to our investors and partners for their confidence, and, most importantly, to our patients for entrusting us with their care.
Dr Jayantha Dharmadasa
Chairman/Chief Executive Officer
04 September 2025
LEADERSHIP
OVERVIEW MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION SUPPLEMENTARY INFORMATION
Deputy Chairman’s MessageThe financial year 2024-25 marked a decisive turning point for Nawaloka Hospitals PLC. On the back of a crippling financial crisis now largely resolved, the year under review saw the macro environment further stabilise, even as a change in government spelt possible policy shifts.
The financial year 2024-25 stands out as a defining period for Nawaloka Hospitals PLC, marking a new era of resilience and innovation. With the steadfast guidance of our esteemed Chairman, Dr. Jayantha Dharmadasa, our institution navigated through challenges with renewed focus and determination, ensuring stability and sustainable progress in a constantly evolving healthcare landscape. Nawaloka Hospitals PLC emerged stronger from the financial adversity faced in prior years, demonstrating remarkable operational recovery and strategic foresight. Under Dr. Dharmadasa’s visionary leadership, our Board and management united to institute robust governance measures and reinvigorate our mission of delivering world-class healthcare to the people of Sri Lanka. The collective commitment of our staff, paired with clear direction from the top, enabled us to uphold the highest standards of service even as external conditions shifted, including developments in national policy and the macroeconomic environment. | During the year under review, we prioritised strategic investments in medical infrastructure and advanced technology, further elevating the quality and reach of our services. Our efforts to expand patient care through innovation, digital transformation, and continuous staff development reinforced our reputation as an industry leader. With the integration of state-of-the-art equipment and best-in-class practices, Nawaloka Hospitals PLC was able to meet the growing demands of patients, improve clinical outcomes, and ensure safety across all touchpoints. The organisation’s financial performance also reflected positive momentum. Careful management of resources, focused cost controls, and strategic expansion initiatives contributed to a stronger balance sheet and improved profitability. This financial | health has not only benefited stakeholders, but has allowed us to drive further investments in community outreach, patient education, and staff empowerment programs—all of which are vital to our long-term mission. As the healthcare sector continues to evolve in response to changing regulatory frameworks and technological advancement, our institution remains firmly committed to supporting national health priorities alongside the Ministry of Health and other government agencies. Recognising our role as a corporate citizen, we pursue initiatives that make healthcare more accessible and affordable to every Sri Lankan, and actively seek partnerships that amplify our impact on public health outcomes. |
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Deputy Chairman’s Message
On behalf of the Board, and with gratitude for the enduring support of Chairman Dr. Jayantha Dharmadasa, I extend sincere thanks to our exceptional team of employees, our patients,
partners, and shareholders. Their trust and commitment form the bedrock of our success. Together, we will continue to set new benchmarks in healthcare excellence, drive sustainable development, and empower positive change in the communities
we serve. Looking forward, Nawaloka Hospitals PLC is poised for continued growth, innovative transformation, and a lasting legacy that reflects the very best of Sri Lankan healthcare.
Mr Anisha Dharmadasa
Deputy Chairman – Executive Director
04 September 2025
LEADERSHIP
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Director/General Manager’s ReviewDuring the year under review, overall patient satisfaction averaged 4.3 out of 5, with 80% of surveyed patients recommending Nawaloka to others. This affirmation reflects the strength of our commitment
to delivering high-quality healthcare experiences grounded in precision, compassion, and trust.
Clinical excellence remains the cornerstone of Nawaloka Hospitals’ operations. Our focus has been on enhancing patient outcomes through improved service delivery, advanced medical technology, and smooth and continuous care pathways. Every patient is a valued experience to us, supported by measurable clinical benchmarks that bears testimony to this. The past year saw significant strides in investments in technology. The AI-assisted Radiology Unit, the first of its kind in South Asia, now supports MRI, CT, and X-ray diagnostics and remote reporting, enabling more targeted treatments. Across our clinical units—from Emergency and OPD to Pharmacy, Laboratory, and Patient Discharge—we have streamlined processes, reduced Turnaround-Times with AI-enabled solutions, improving both efficiency and accuracy. | Beyond diagnostics, digital health tools such as patient portals and integrated clinical records have empowered patients to actively participate in their healthcare journey. These innovations ensure continuity of care, transparency, and informed decision-making, aligning with our principle of “Healing with Feeling”. Our progress is anchored in a strong ethical governance framework that emphasizes transparency, accountability, and medical ethics. Oversight from the Strategy, Sustainability, and Innovations Committees ensures that investments whether in technology, infrastructure, and human capital are guided by longterm sustainability and patient benefit. | The Sustainability Committee integrates ESG principles into operations, from reducing environmental impact to supporting community health programs. The Innovations Committee drives adoption of medical technologies only when they demonstrate tangible clinical value and efficiency gains. The Nawaloka Hospitals Research and Education Foundation, remains as the pioneer in advancing medical research and knowledge in the private sector. Our commitment to education extends to supporting Continuing Medical Education (CME), allied healthcare training, and aged care services through the Nawaloka Institute of Healthcare and the Nawaloka College of Professional Studies. These initiatives strengthen the broader healthcare ecosystem while building future capacity. |
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Director/General Manager’s Review
Refining the patient journey continues to be a key priority. From emergency admissions to planned surgeries, care is coordinated across disciplines guided by medical evidence and attuned to patient preferences. This model blends efficiency with empathy, ensuring that every patient experiences compassionate,
personalised care that reflects our enduring value of “Healing with Feeling”.
As Sri Lanka navigates complex macroeconomic conditions, financial sustainability will remain central to our growth. Our strategy balances high-quality clinical services with prudent economic planning, evaluating every investment for both its immediate impact on patient care and its contribution to long-term operational resilience.
Future growth will be driven by investments in technology, workforce development, and facility upgrades, alongside
expansion in international medical tourism. Special emphasis will be placed on non-communicable diseases, transplant services, cancer prevention, and advanced day-care facilities supported by, AI-assisted laparoscopic technologies leading to robotics.
In 2024–25, Nawaloka Hospitals reestablished its leadership and strongly emerged as the leader in clinical, technology, innovation and ethical governance under the able guidance, direction and
foresight of our Chairman. This journey reaffirms our commitment to setting a globally benchmarked and patient-focused standard in Sri Lankan healthcare.
As we bring another successful year to a close, I wish to convey my heartfelt gratitude to our Chairman/CEO, the Deputy
Chairman, and the Board of Directors for their visionary and steadfast leadership. Their guidance has been instrumental in steering Nawaloka Hospitals towards continued excellence.
I also extend my deep appreciation to our dedicated healthcare professionals whose tireless commitment has enabled us to uphold our pioneering role in the healthcare sector. My sincere thanks go to our medical and administrative teams, who have
served our patients with unwavering compassion and care throughout the year.
We remain grateful to our valued business partners and
stakeholders for their consistent support, and to our patients and their families for the trust and confidence they continue to place in us.
Thank you for being an integral part of our journey to advance health and wellbeing for all.
Vidya Jyothi Emeritus Professor Lal Gotabhaya Chandrasena
Director/General Manager
04 September 2025
LEADERSHIP
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Dr Jayantha Dharmadasa Chairman/CEO – Executive Director Dr Jayantha Dharmadasa has been the Chairman of the Company since 2011 and was the Deputy Chairman from 1985. He is a businessman by profession and counts over 46 years of experience in Executive Management of which 40 years are in the healthcare industry. He is also the CEO of the Company, a Fellow member of the Institute of Certified Professional Managers (FCPM), Chairman of Nawaloka Hospitals PLC, Nawaloka Construction Company (Pvt) Ltd., Nawaloka Holdings (Pvt) Ltd., Nawaloka Aviation (Pvt) Ltd., Nawaloka Laboratories (Private) Ltd., Nawaloka College of Higher Studies (Pvt) Ltd., Nawaloka Steel Industries (Pvt) Ltd., Nawaloka Guardian International (Pvt) Ltd., New Nawaloka Hospitals (Pvt) Ltd. and New Nawaloka Medical Centre (Pvt) Ltd. Dr Dharmadasa holds an Honorary Doctorate from Swinburne University of Technology, Australia and is the Honorary Consul General of the Republic of Singapore in Sri Lanka. Also the Chairman of Cinestar Foundation and was the Chairman of Outstanding Song Creators Association (OSCA), Vice President of Sri Lanka Cricket, Director of Sri Lanka Telecom PLC, President of Sri Lanka Cricket, President of Asian Cricket Council, Chairman of National Film Corporation and a Board member of Sri Lanka Rupavahini Corporation He is the Vice President of Sri Lanka Cricket at present. | Mr Anisha Dharmadasa Deputy Chairman – Executive Director Mr Anisha Dharmadasa has been a Director of the Company since 2000. He has 28 years of experience in Executive Management. Mr Dharmadasa is the Deputy Chairman of Nawaloka Hospitals PLC and Nawaloka Construction Company (Pvt) Ltd., and a Director of Nawaloka Medical Centre (Pvt) Ltd., New Nawaloka Hospitals (Pvt) Ltd., New Nawaloka Medical Centre(Pvt) Ltd., Nawaloka Holdings (Pvt) Ltd., New Ashford International (Pvt) Ltd., Nawaloka Engineering (Pvt) Ltd., Nawaloka Petroleum (Pvt) Ltd., Nawaloka Guardian International (Pvt) Ltd., Quincy (Pvt) Ltd., Sasiri Polysacks (Pvt) Ltd., Nawaloka Laboratories (Private) Ltd., Nawaloka Graphic (Pvt) Ltd., Nawaloka ACG Aluminum Company (Pvt) Ltd., NCC Plantations (Pvt) Ltd., Nawata Group (Pvt) Ltd., Nawata Reliable Motors (Pvt) Ltd., Nawata Restaurant (Pvt) Ltd., Supreme Flora (Pvt) Ltd., NCC Edifice (Pvt) Ltd., M Branch (Pvt) Ltd., and Nawaloka Institute of Healthcare (Pvt) Ltd. Mr Dharmadasa is also the Chairman of Sikure Security Service (Pvt) Ltd., and Nixon Distribution Service (Pvt) Ltd. | Vidya Jyothi Emeritus Professor Lal Gotabhaya Chandrasena Director/General Manager – Executive Director | ||||
Professor Lal Chandrasena has been a Director of Nawaloka Hospitals PLC since 2003. He is a Clinical Biochemist by profession and counts 24 years of University Academic Service and 40 years of experience in Hospital and Healthcare Administration and Laboratory Sciences. Professor Lal Chandrasena is a Director of Nawaloka Hospitals Research and Education Foundation, Nawaloka Hospitals International (Pvt) Ltd., Nawaloka College of Higher Studies (Pvt) Ltd., Nawaloka Guardian International (Pvt) Ltd., Nawaloka Laboratories (Private) Ltd., and New Nawaloka Hospitals (Pvt) Ltd. He is the Emeritus Professor of Biochemistry and Clinical Chemistry, Faculty of Medicine, University of Kelaniya. Professor Chandrasena has a Doctorate in Philosophy from University of Liverpool (UK) and a Bachelor of Science (Hons) from the University of Liverpool (UK) Post-Doctoral Fellow, Colorado State University, USA. He is Fellow of American Association for Clinical Chemistry, Fellow of the Institute of Chemistry, Ceylon and |
LEADERSHIP
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MANAGEMENT DISCUSSION AND ANALYSIS ORGANISATIONAL STEWARDSHIP FINANCIAL INFORMATION
SUPPLEMENTARY INFORMATION
Board of Directors
a Chartered Chemist, Fellow of Royal Society of Chemistry, FRS (UK) and a Fellow of the National Academy of Sciences of Sri Lanka (FNASSL). He is a member of the Private Health Services Regulatory Council, Ministry of Health. He is the Past President of the Association of Private Hospitals and Nursing Homes and the Association for Clinical Biochemistry, Sri Lanka. He is a Fellow member of the Institute of Chartered Professional Managers of Sri Lanka and holds a Certificate in Hospital Administration from the Indian Institute of Management, Ahmedabad. He was awarded an Honorary Fellowship of the College of Chemical Pathologists of Sri Lanka. He was conferred the National Honour “Vidhya Jyothi” in 2017 by His Excellency the President of Sri Lanka. Ms Ashani Givanthi Dharmadasa Executive Directress Ms Givanthi Dharmadasa has been a Directress of the Company since 2003 and has 25 years of experience in Executive Management. She is also a Directress of Nawaloka Holdings (Pvt) Ltd., Nawaloka Air Services (Pvt) Ltd., Nawaloka Aviation (Pvt) Ltd., Waves Destinations (Pvt) Ltd., Nawaloka Construction (Pvt) Ltd., Redline Services (Pvt) Ltd., Redline Design & Printing (Pvt) Ltd., Redline International (Pvt) Ltd., Nawaloka Laboratories (Private) | Ltd., Nawaloka Hospital Research and Education Foundation, JDC Printing Technologies (Pvt) Ltd., JDC Graphics Systems (Pvt) Ltd., Unifold (Pvt) Ltd., JDC Inks & Chemicals (Pvt) Ltd., and Nawaloka Institute of Healthcare (Pvt) Ltd., New Tergo Services (Pvt) Ltd., Tergo Services (Pvt) Ltd., and Tergo Pest Control Service (Pvt) Ltd. Ms Dharmadasa is also the Deputy Chairperson of Redline Capital (Pvt) Ltd., and the Managing Partner of Redline Agriculture. Deshabandu Tilak De Zoysa FCMI (UK), FPRI (SL) Independent Non-Executive Director A well-known figure in the Sri Lankan business community, Tilak De Zoysa, FCMI (UK), FPRI (SL), Honorary Consul for Croatia and Global Ambassador for HelpAge International was conferred the title of “Deshabandu” by His Excellency the President of Sri Lanka in recognition of his services to the Country and was the recipient of “The Order of the Rising Sun. Gold Rays with Neck Ribbon” conferred by His Majesty the Emperor of Japan, and was the Recipient of the LMD Lifetime Achievers’ Award 2017. In addition to being the Chairman of Associated CEAT (Pvt) Ltd., Amaya Hotels and Resorts USA (DoubleTree by Hilton), Jetwing Zinc Journey Lanka (Pvt) Ltd., Trinity Steel (Pvt) Ltd., CG Corp Global | Sri Lanka and HelpAge Sri Lanka and the Automobile Association of Ceylon. He is also the Vice Chairman of CEAT Kelani Holdings (Pvt) Ltd., and serves on the Boards of several listed and private companies which include TAL Lanka Hotels PLC (Taj), TAL Hotels and Resorts Ltd. (Taj), Nawaloka Hospitals PLC, Associated Electrical Corporation Ltd., INOAC Polymer Lanka (Pvt) Ltd., Cinnovation INC., Varun Beverages Lanka (Pvt) Ltd. (Pepsi), and is a member of the Kalutara Bodhi Trust. Mr Tilak De Zoysa was the Past Chairman of the Supervisory Board (AMW) and Advisor to the Al-Futtaim Group of Companies in Sri Lanka, Past Chairman of the Ceylon Chamber of Commerce, the National Chamber of Commerce of Sri Lanka, HelpAge International (UK), Colombo YMBA and Board of Governors and the Sasakawa Memorial Sri Lanka Japan Cultural Centre Trust, and served as a member of the Monetary Board of Sri Lanka (2003-2009). Mr Tissa K Bandaranayake FCA, BSc Non-Executive Director | ||||
Mr Tissa K Bandaranayake joined the Company as a Director in 2009. He is a Fellow member of The Institute of Chartered Accountants of Sri Lanka and graduated with a BSc from the |
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