JAT Holdings records 74% increase in bottomline for FY25

• Achieves highest ever annual PAT and PBT
• 14% growth in local revenue
• 5% GP margin increase
• 35% growth of Bangladesh revenue (BDT) in 2H compared to 1H 
• Expansion to Australia and Cambodia through wood coatings

Founder and Managing Director Aelian Gunawardene	CEO and Executive Director Nishal Ferdinando

JAT Holdings PLC, a leading conglomerate in Sri Lanka’s manufacturing and coatings industry, yesterday announced its financial results for the fiscal year ending 31 March 2025, underscoring its long-standing stability and strategic foresight despite challenging external conditions.

The company recorded a revenue of Rs. 11.6 billion, reflecting marginal year-on-year growth. This was primarily impacted by a 26% decline in export revenues from Bangladesh, driven by prevailing political and economic instability in the region and the significant depreciation of the Bangladeshi currency against the Sri Lankan Rupee, JAT said in a statement. 

However, this decline was partially offset by improved performance in other markets. Revenue from Sri Lanka grew by 14%, while combined revenue from other international markets increased by 12%. Notably, the revenue contribution from Bangladesh, which typically accounts for over 30% in an average year, dropped to 23% in FY 2024/25, compounded by three months of business disruption due to economic and political instability in the country. Key product segments showed significant growth, including Wood coatings (5%), Emulsions (37%), Brushes and Rollers (42%), and Projects (171%) - the latter being aided by the lifting of import restrictions.

JAT’s focused efforts on backward integration and operational efficiencies resulted in a notable increase in profitability, with gross profit margins rising from 29% to 34%. This improvement was largely driven by cost savings from the Acrylic Binder manufacturing plant and from the Alkyd Resin manufacturing facility, reinforcing its commitment to long-term value creation.

All margin indicators improved during the quarter under review, signalling disciplined cost control and sound strategic execution across its diverse portfolio. During the financial year, operating profit rose to Rs. 1,862 million which is a 37% increase YoY with margins increasing from 12% to 16%, while net profit stood at Rs. 1,782 million, which is a 74% increase YoY with margins rising from 9% to 15%. These figures showcase the company’s ability to protect its bottom line despite headwinds. JAT achieved its profitability targets, bolstered by disciplined cost controls and proactive cost management initiatives.

JAT Holdings PLC CEO and Executive Director Nishal Ferdinando said: “Despite global and regional headwinds, we have remained steadfast in our strategic approach, investing in innovation, enhancing efficiency, and unlocking new market opportunities. This year’s performance is a reflection of our team’s agility, foresight, and the trust our customers place in us.”

JAT also made several strategic launches this year, including J Chem One Coat, a solvent-based wood coating solution; Kolorz by JAT Emulsion, a high-performance coloured paint for interior and exterior walls in over 3000 colours as an addition to the White by JAT range; Hydro+, a waterproofing solution for exterior surfaces and CoatEx in Bangladesh, a cost-effective solution aimed at the retail segment. The company marked a new milestone in Sri Lanka’s design industry with the grand opening of its innovative JAT Lifestyle Studio which caters to the emerging premium ergonomic office furniture and branded bespoke luxury kitchens segment.

JAT revolutionised the way loyalty programmes serve daily wage-earning painters and carpenters, a key stakeholder group for the company, with a revamped program that extends beyond conventional rewards and now also offers a comprehensive insurance scheme that extends coverage to painters and their families.

In addition, JAT’s Pintharu Abhiman program continued to provide critical skills training to painters across Sri Lanka, further solidifying JAT’s commitment to uplifting the wood coatings industry since 1993. The program has reached a significant milestone by delivering both theoretical and practical training islandwide and has supported over 700 experienced yet previously uncertified painters to gain NVQ-level qualifications which, in turn has improved their recognition within the industry.

International expansion was marked by the opening of JAT’s SEAFORM showroom, in Perth along with the first wood coating shipment to Australia, and the JAT Tech Centre in Cambodia. 

JAT Holdings PLC Founder and Managing Director Aelian Gunawardene said: “As we navigate forward, our emphasis remains on building value through innovation, resilience, and regional expansion. Our performance in FY 2024/25 is a testament to JAT’s ability to adapt and thrive, while creating long-term impact for all stakeholders.”

Reinforcing its position as a leader in corporate governance and brand performance, JAT Holdings secured numerous accolades in the year under review. These include: CMA Excellence in Integrated Reporting Awards 2024 – “Best Integrated Report – Trade and Commerce Sector” and “Ten Best Integrated Reports”, TAGS Awards 2024 – Bronze in “Manufacturing Sector (Group turnover up to LKR 20 Bn”), SLIM Brand Excellence Awards 2024 – “Best B2B Brand of the Year” (Sayerlack PU) and “Best CSR Brand of the Year” (JAT Pintharu Abhiman), ACCA Sustainability Reporting Awards – Runner-up in the “Retail and Trading” Category, and Best Management Practices Company Awards 2025 – Winner in the “Manufacturing Sector – Other” Category.

JAT’s sustained momentum is further validated by its AA (lka) National Long-Term Rating by Fitch Ratings, as well as continued recognition as one of Sri Lanka’s Most Loved Brands, Most awarded Companies, Most Respected Entities, and being recognised among the Top 100 Listed Companies by LMD. The company also holds certifications as a Great Place to Work and remains an employer of choice in the industry.