Level 15, Seylan Towers, No: 90, Galle Road, Colombo 03. Interim Financial Statements Quarter Ended 31 st March 2026
Assets Non Current Assets Property, plant & equipment Intangible Assets Investment property Other investments Retirement benefit assets Total Non Current Assets Current Assets Inventories Trade and other receivables Other investments Cash and cash equivalents Total Current Assets Total Assets Equity and Liabilities Equity Stated capital Reserves Retained earnings Non Current Liabilities Deferred tax liability Current Liabilities Trade and other liabilities Income tax payable Bank overdrafts Total Equity and Liabilities Net Asset per Share |
MAR 31, 2026 (Un Audited) |
Rs '000 8,370 13,346 6,046,088 433,142 5,209 |
6,506,155 |
12,305 55,023 94,564 180,817 |
342,709 |
6,848,864 |
1,644,392 497,994 3,407,674 |
5,550,060 |
949,693 |
949,693 |
314,439 34,672 - |
349,111 |
6,848,864 |
39.73 |
DEC 31, 2025 (Audited) |
Rs '000 9,003 1,699 6,040,281 443,353 5,209 |
6,499,545 |
6,700 49,428 205,576 38,576 |
300,280 |
6,799,826 |
1,644,392 501,867 3,525,123 |
5,671,381 |
946,200 |
946,200 |
137,512 26,744 17,989 |
182,245 |
6,799,826 |
40.60 |
Growth % |
(7.02) 685.35 0.10 (2.30) 0.00 |
0.10 |
83.64 11.32 (54.00) 368.73 |
14.13 |
0.72 |
-(0.77) (3.33) |
(2.14) |
0.37 |
0.37 |
128.66 29.64 (100.00) |
91.56 |
0.72 |
SEYLAN DEVELOPMENTS PLC STATEMENT OF FINANCIAL POSITION
[
The Financial Statements have been prepared in compliance with the requirements of the Companies Act no 7 of 2007 .
The above figures are subject to audit and has been prepared in compliance with the Rule 7.4 of the CSE Listing Rules and Sri Lanka Accounting Standard - LKAS 34 - Interim Financial Reporting.
Sgd.
Nirmala Arangalage ( Mrs )
Head of Finance
Sgd. Sgd.
Ramesh Jayasekara Najill Farouk
Chairman Independent Non Executive Director
24th April 2026
SEYLAN DEVELOPMENTS PLC |
STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME |
FOR THE QUARTER ENDED | |||
MAR 31, | MAR 31, | ||
2026 (Un Audited) | 2025 (Un Audited) | Growth | |
Rs '000 | Rs '000 | % | |
Rental Income | 100,337 | 90,736 | 10.58 |
Other Income | 1,194 | 928 | 28.62 |
101,531 | 91,664 | 10.76 | |
Operating Expenses | (47,209) | (29,794) | 58.45 |
Operating Profit | 54,322 | 61,870 | (12.20) |
Net Finance income | 19,114 | 16,626 | 14.97 |
Profit / ( Loss ) Before Taxation | 73,436 | 78,496 | (6.45) |
Taxation | (23,258) | (23,206) | 0.23 |
Profit After Taxation | 50,178 | 55,290 | (9.25) |
Other comprehensive income | |||
Net losses on investment in debt instruments measured at fair value through other comprehensive | (5,532) | (28) | 19,907.54 |
income Deferred tax on components of other comprehensive income | 1,659 | 8 | 19,907.54 |
Other comprehensive income for the period, net of income tax | (3,873) | (20) | 18,929.43 |
Total comprehensive income for the period | 46,305 | 55,270 | (16.22) |
Weighted Average Earnings / (Loss) Per Share | Rs 0.36 | Rs 0.40 | |
SEYLAN DEVELOPMENTS PLC |
STATEMENT OF CHANGES IN EQUITY |
Balance as at 01.01.2025 Total Comprehensive Income for the period |
Profit or Loss |
Other Comprehensive Income |
Net fair value change in investment in debt instruments measured at fair value through other comprehensive income |
Deferred tax on components of other comprehensive income |
Total Comprehensive Income for the period Transactions recorded directly in equity Dividend declared Balance as at 31.03.2025 Balance as at 01.01.2026 Total Comprehensive Income for the period Profit or Loss Other Comprehensive Income Net fair value change in investment in debt instruments measured at fair value through other comprehensive income Deferred tax on components of other comprehensive income Total Comprehensive Income for the period Transactions recorded directly in equity Dividend declared Balance as at 31.03.2026 |
Stated capital Rs '000 |
1,644,392 - - |
- |
- |
- |
1,644,392 |
1,644,392 - - |
- |
- |
- |
- |
1,644,392 |
Capital reserve Rs '000 |
525,494 - - |
- |
- |
- |
525,494 |
525,494 - - |
- |
- |
- |
- |
525,494 |
Revaluation | Fair value reserve Rs '000 | |
reserve | ||
Rs '000 | ||
3,616 - - | (23,399) - (28) 8 | |
- | (20) | |
- | - | |
- | - | |
3,616 | (23,420) | |
3,616 - - - | (27,243) - (5,532) 1,659 | |
- | (3,873) | |
- | - | |
- | - | |
3,616 | (31,116) |
Retained | Total Rs '000 | |
earnings | ||
Rs '000 | ||
3,370,661 55,290 - - | 5,520,763 55,290 (28) 8 | |
55,290 | 55,269 | |
(153,657) | (153,657) | |
(153,657) | (153,657) | |
3,272,294 | 5,422,376 | |
3,525,123 50,178 - - | 5,671,381 50,178 (5,532) 1,659 | |
50,178 | 46,305 | |
(167,626) | (167,626) | |
(167,626) | (167,626) | |
3,407,674 | 5,550,060 |
SEYLAN DEVELOPMENTS PLC |
CASH FLOW STATEMENT |
For the period | 01.01.26 - 31.03.26 | 01.01.25 - 31.03.25 |
(Un Audited) | (Un Audited) | |
Rs. 000 | Rs. 000 | |
Cash Flows from Operating Activities Receipt from other Operating Activities | 101,530 | 91,664 |
Cash payments to Employees, Suppliers | (41,989) | (29,537) |
Interest Payments | (49) | (45) |
Operating profit before changes in operating assets | 59,492 | 62,082 |
(Increase)/Decrease in operating assets : | ||
Stock & Receivables | (11,200) | (655) |
Increase/(Decrease) in operating liabilities : | ||
Deposits & Trade payables | (4,199) | (12,741) |
Cash Generated from Operations | 44,093 | 48,686 |
Income tax paid | (1,177) | (1,771) |
Net cash from Operating Activities | 42,916 | 46,915 |
Cash Flows from Investing Activities Interest Received | 19,163 | 16,671 |
Purchase of non-dealing Securities | - | (44,028) |
Disposal of non-dealing Securities | 115,693 | 19,195 |
Purchase of property, plant and equipment | - | (636) |
Purchase of Intangible Assets | (11,735) | - |
Additions to Investment Properties | (5,807) | (4,718) |
Net cash from Investing Activities | 117,314 | (13,516) |
Net increase in cash and cash equivalents | 160,230 | 33,399 |
Cash and Cash equivalents at beginning of period | 20,587 | 14,222 |
Cash and Cash Equivalents at end of period | 180,817 | 47,621 |
Reconciliation of Cash and Cash Equivalents | ||
Cash and Short Term Funds | 180,817 | 48,275 |
Bank Overdraft | - | (654) |
180,817 | 47,621 |
-
General
Seylan Developments PLC (the "Company") is a "Public Quoted Company" and a Limited Liability Company Incorporated and domiciled in
Sri Lanka and listed on the Colombo Stock Exchange.
The Company's registered office is situated at Level 15, Seylan Towers, No. 90, Galle Road, Colombo 03.
The Company is in the business of development of property, administration & maintenance.
The Company is a subsidiary of Seylan Bank PLC.
The staff strength of the Company as at 31st March 2026 is 18 (2025 - 16).
-
Accounting Policies
There are no changes to the accounting policies & method of computation since the publication of the last Annual Report. The interim Financial Statements are presented in accordance with LKAS 34, Interim Financial Reporting. The Interim Financial Statements should be read in conjunction with the Annual Financial Statements for the year ended December 31, 2025 which have been prepared in accordance with LKAS / SLFRS.
-
Contingent Liabilities or Contingent Assets
There are no Contingent Liabilities or Contigent Assets as at the reporting date that require adjustments or disclosure in Financial Statements.
-
Events After the Reporting Period
There have been no material events after the reporting period that would require adjustments / disclosures in the Financial Statements.
-
Stated Capital
139,688,298 Ordinary Shares Rs: 1,644,391,650/-
-
Share price movement
Quarter Ended
Year Ended
31.12.2025
31.03.2026
31.03.2025
Highest Price Lowest Price Last Traded Price
Market Capitalization
34.20
24.30
27.40
3,827,459,365
25.50
20.00
21.40
2,989,329,577
35.20
20.00
30.10
4,204,617,770
-
Comparative Information
Comparative figures have been re-stated / adjusted where necessary, to conform to the current period presentation.
- Others
The first and final Dividend of Rs: 1.20 per share to Ordinary Shareholders was approved by the Shareholders at the Annual General Meeting held on 31st March 2026.
SEYLAN DEVELOPMENTS PLC |
Notes to the Financial Statements |
9 | Major 20 Shareholders - As at 31 March 2026 |
NAME OF SHAREHOLDER | NO OF SHARES 31.03.2026 | % | |
1 | Seylan Bank PLC | 104,332,112 | 74.69 |
2 | Mr. A. J. Thissera | 4,299,000 | 3.08 |
3 | Commercial Bank of Ceylon PLC / W. Jinadasa | 1,821,291 | 1.30 |
4 | Mrs. M. M. Udeshi (DESC) | 1,287,900 | 0.92 |
5 | Invenco Capital Private Limited | 1,100,000 | 0.79 |
6 | J. B. Cocoshell (Pvt) Ltd | 1,065,000 | 0.76 |
7 | Hatton National Bank PLC / Weththinge Jinadasa | 940,721 | 0.67 |
8 | Sampath Bank PLC / Mr. Abishek Sithampalam | 767,756 | 0.55 |
9 | Asian Guild Financial Services (Pvt) Ltd | 609,121 | 0.44 |
10 | Bank of Ceylon A/C Ceybank Century Growth Fund | 606,325 | 0.43 |
11 | Zagra Investment Consultants (Pvt) Ltd | 594,200 | 0.43 |
12 | Mr. B. C. Tay | 505,948 | 0.36 |
13 | Mrs. P. M. Tissera | 432,800 | 0.31 |
14 | Mr. A. Van Oosterbrugge | 321,400 | 0.23 |
15 | Mrs. M. Y. Amerasinghe | 215,000 | 0.15 |
16 | The Finance Company PLC A/C No 1 | 204,000 | 0.15 |
17 | Mr. K D A G Kulatunga | 200,000 | 0.14 |
18 | Kundanmals Limited No 1 Account | 190,332 | 0.14 |
19 | Mr. J. D. Bandaranayake, Joint Dr. V. Bandaranayake & Miss. I. Bandaranayake | 179,163 | 0.13 |
20 | Mr. J. D. Bandaranayake, Joint Miss N. Bandaranayake & Dr. V. Bandaranayake | 177,278 | 0.13 |
10 | Names of existing Directors in Seylan Developments PLC |
NAME OF DIRECTOR | NO OF SHARES 31.03.2026 | |
1 | Mr. R. Jayasekara - Chairman/Non Executive Director | - |
2 | Mrs. Gillian Edwards - Independent Non Executive Director | - |
3 | Mr. Najill Farouk - Independent Non Executive Director | - |
4 | Mr. Tilan Wijeyesekera - Independent Non Executive Director | - |
5 | Mr. Ranil Dissanayake - Non Executive Director | - |
6 | Mr. Anuja Ratnaayake - Chief Executive Officer | - |
11 | Public Shareholdings % as at 31st March 2026 | 25.31% |
No of public shareholders as at 31st March 2026 | 6,590 | |
Float adjusted market capitalization (Rs:) | 968,729,965 | |
The Company complies with option 5 of the Listing Rules 7.13.1 (a) - less than Rs: 2.5 Bn Float adjusted market capitalization which requires 20% minimum Public Holdings. | ||