The Teejay Group recorded revenue of LKR 60.04 billion during the period, reflecting a 10% year-on-year decline, primarily due to continued softness in global textile demand. This performance was largely impacted by reciprocal tariffs imposed by the United States, intensified pricing pressures across key markets, and the resulting decline in volumes, all of which collectively weighed on topline growth.<\/p>\n\n\n\n
Group Gross Profit declined by 36% year-on-year to LKR 5.02 billion, mainly attributable to lower production volumes, underutilization of plant capacity, sustained pricing pressures, and an unfavorable product mix. Together, these factors adversely affected margin performance amid a challenging operating environment.<\/p>\n\n\n\n
The Group reported a Profit After Tax (PAT) of LKR 54.7 million, representing a 98% year-on-year decline. This was primarily driven by higher rupee-denominated costs and non-recurring items, provision for doubtful debts, and restructuring costs associated with right-sizing initiatives.<\/p>\n\n\n\n
Ajit Gunewardene, Chairman of the Teejay Group said, \u201cThe year was marked by persistent global demand softness and pricing pressures, which impacted results. Despite this, we focused on operational efficiency, cost discipline, and strengthening our financial resilience. These actions position the Group to navigate ongoing uncertainty while remaining committed to long-term value creation for our shareholders.\u201d<\/p>\n\n\n\n
Despite these near-term challenges, the Teejay Group continues to maintain a strong financial position, supported by disciplined working capital management and a robust liquidity base. As at 31 March 2026, cash and cash equivalents stood at LKR 8.3 billion, while the Group\u2019s net asset base increased by 3% year-on-year to LKR 32.4 billion, reinforcing the resilience of its balance sheet.<\/p>\n\n\n\n
Further reflecting the Group\u2019s focus on value preservation, Net Asset Value (NAV) per share improved from LKR 43.70 to LKR 44.91 year-on-year, underscoring its continued commitment to safeguarding shareholder value amid a demanding operating environment.<\/p>\n\n\n\n
Image Caption – Teejay Lanka Chairman Mr Ajit Gunewardene and CEO Mr Pubudu De Silva<\/p>\n\n\n\n
About Teejay Group<\/strong><\/p>\n\n\n\n The Teejay Group owns manufacturing facilities in Sri Lanka and India, along with a state-of-the-art printing facility in Sri Lanka. An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay Lanka was also the first textile manufacturer in Sri Lanka to receive membership of the US Cotton Trust Protocol. Teejay is a publicly quoted company with 40 percent public ownership and the backing of Sri Lanka\u2019s largest apparel exporter Brandix Lanka which has a 32 percent stake in the Company. Pacific Textiles of Hong Kong, whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 27 percent of Teejay Lanka.<\/p>\n\n\n\n Teejay Lanka was ranked the No 1 corporate entity among 100 public listed companies in Sri Lanka for Transparency in Corporate Reporting in the TRAC 2023 assessment carried out by Transparency International Sri Lanka (TISL), the local arm of the international corruption watchdog. The TISL assessment was carried out on three areas crucial to fighting and preventing corruption: reporting on anti-corruption programmes, transparency in company holdings and the disclosure of key financial information in domestic operations.<\/p>\n","protected":false},"excerpt":{"rendered":" The Teejay Group recorded revenue of LKR 60.04 billion during the period, reflecting a 10%…<\/p>\n","protected":false},"author":4,"featured_media":6317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[5],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/posts\/6316"}],"collection":[{"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/comments?post=6316"}],"version-history":[{"count":1,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/posts\/6316\/revisions"}],"predecessor-version":[{"id":6318,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/posts\/6316\/revisions\/6318"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/media\/6317"}],"wp:attachment":[{"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/media?parent=6316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/categories?post=6316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/economictimes.lk\/index.php\/wp-json\/wp\/v2\/tags?post=6316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}