Thursday Oct 23, 2025
Thursday Oct 23, 2025
Thursday, 23 October 2025 01:34 - - {{hitsCtrl.values.hits}}
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| Chairman and Chief Executive Mohan Pandithage |
Co-Chairman and Non-Executive Director Dhammika Perera |
Sri Lanka’s most diversified conglomerate Hayleys PLC yesterday announced plans to pursue strategic entry into the large-scale supermarket sector.
In a statement Hayleys said the move represents a bold step forward that marks the beginning of a new chapter in its 148-year legacy of diversification and value creation.
“This move underscores the Group’s strategic thrust towards bringing quality, reliability and service excellence closer to everyday Sri Lankan consumers, redefining the modern retail experience. Hayleys is uniquely positioned to build a value-driven retail ecosystem across the country, leveraging its unparalleled reach across value chains, brand strength, dynamic leadership team and commitment to sustainable business,” the statement said.
The Group intends to commence operations with 100 outlets strategically located across key urban and suburban areas.
Hayleys said its entry into this space is expected to further diversify its earnings profile and contribute to long-term financial stability and broad-based stakeholder value creation.
With improving macroeconomic conditions, increasing urbanisation, and the growing sophistication of consumer lifestyles, Hayleys said it sees tremendous potential for growth in the country’s retail sector. “This venture will harness the Group’s deep expertise in logistics, manufacturing, and service excellence to deliver greater accessibility, quality, and choice to customers- reaffirming Hayleys’ enduring commitment to inclusive growth and national development,” the statement added.
Hayleys Group in FY25, delivered a 52% y-o-y growth in Profit After Tax to 22.51 billion supported by a 13% top-line growth to Rs. 492.2 billion.
At present the modern trade sector features several prominent chains including Cargills Food City, Keells Super, Arpico Super Centre, LAUGFS Supermarket, Lanka Sathosa, Softlogic Glomark and Spar.
Modern trade penetration in Sri Lanka is estimated at 17%, one of the lowest in the region.
Harischandra share price rockets past Rs. 11,000 as Hayleys announces mandatory offer of Rs. 3,300
Harischandra Mills PLC saw its share price rocket past the Rs. 11,000 figure momentarily yesterday amidst Hayleys PLC's mandatory offer at Rs. 3,300 per share.
The market yesterday saw 1,854 of highly illiquid shares of Harischandra changing hands via 456 trades for Rs. 19 million. The share price traded between a high of Rs. 11,020.25 and a low of Rs. 9,280.25 before closing at Rs. 9,369.50, up by Rs. 553.25 or 6.28%.
Hayleys PLC on Friday acquired 778,946 shares or 40.59% stake in family-controlled Harischandra at Rs. 3,300 per share in a deal worth Rs. 2.5 billion after which the stock price shot up to a new high of Rs. 7,424.50. The seller of the 40% block was Senthilverl Holdings Ltd.
The sharp spike in Harischandra share price comes as Hayleys PLC announced yesterday the mandatory offer to acquire the remaining stake of 59.42% or 1.14 million shares at Rs. 3,300.
Analysts linked the spike partly to speculators whilst others said some investors saw huge upside potential post-Hayleys acquisition.
Yesterday’s closing of share price is 607% higher than the mandatory offer price. The net asset value per share of Harischandra was Rs. 931.54 as at end-June 2025. The public holding of Harischandra is 54.96% held by 602 shareholders.
Core business of Harischandra is manufacture of food and soap products and marketing of fuel and lubricant. In FY25, the company saw only 0.3% increase in revenue to Rs. 6.3 billion whilst profit rose by 12.6% to Rs. 253 million.
