Colombo, Sri Lanka – 28 August 2026 – Vidullanka PLC (CSE: LANK), a prominent player in Sri Lanka’s renewable energy sector, has unveiled its Annual Report for the financial year ended 31st March 2026. The report showcases a period of strategic expansion, operational resilience, and consistent profitability, as the company continues to advance in synchrony with the global shift towards sustainable energy.
Despite a dynamic and often challenging operating environment, Vidullanka PLC has delivered commendable results, marking its fourth consecutive year of exceeding Rs. 1 billion in Profit After Tax (PAT). The company’s disciplined execution and foresight have positioned it as a leader in diversifying Sri Lanka’s energy matrix.
Strong Financial Performance Amidst Strategic Shifts
For the fiscal year 2025/26, Vidullanka PLC reported a Gross Revenue of Rs. 3,827 million. While this reflects a decrease from Rs. 5,425 million in the previous year, the change is attributed to the conclusion of a significant Engineering, Procurement, and Construction (EPC) contract in Guyana in FY2024/25. This strategic shift towards higher-margin renewable energy operations is evident in the company’s improved Net Profit Margin, which rose sharply to 40.5% from 29.1% in the prior year.
Key financial highlights include:
- Profit After Tax (PAT): Rs. 1,551 million, a marginal dip from Rs. 1,577 million in FY2024/25, yet a testament to consistent strong performance.
- Output: A significant increase to 229.4 GWh from 198.7 GWh, demonstrating enhanced generation capacity.
- Installed Capacity: Expanded to 76 MW, up from 51 MW in the previous year, highlighting aggressive growth.
- Earnings Per Share (EPS): Rs. 1.45, compared to Rs. 1.56 in FY2024/25.
- Net Asset Value (NAV) Per Share: Grew to Rs. 9.11 from Rs. 7.99, reflecting strengthened shareholder value.
The company also distributed a total dividend of Rs. 670 million (Rs. 0.65 per share) to its shareholders for the year.
Bold Expansion into Wind and Battery Storage
A defining feature of Vidullanka’s performance in 2025/26 has been its decisive entry into new frontiers of renewable energy. The company significantly diversified its portfolio:
- Expanded its generation capacity to a total of 76 MW across hydro, solar, and dendro power.
- Commissioned four new ground-mounted solar projects, adding 21 MW to its solar portfolio.
- Successfully acquired the 4.45 MW Gurugoda Oya mini hydro project, its twelfth such asset.
- Initiated construction of its second biomass power plant, a 6.6 MW facility in Medawachchiya.
In a landmark move, Vidullanka PLC made its maiden foray into wind energy, acquiring a 30% equity stake in SAFE Power International (Pvt) Ltd for the 10 MW Alankuda Wind Power Plant project. Furthermore, in partnership with the David Peiris Group, the company secured the development rights for the 50MW Mullikulam Wind Tender (Lot 2), solidifying its position in large-scale wind power development.
Recognising the critical need for grid stability, Vidullanka partnered with WindForce PLC to develop thirteen 10 MW standalone Battery Energy Storage Systems (BESS) projects across Sri Lanka. This ambitious initiative, with 120MW/480MWh capacity currently under construction under Storex (Pvt) Ltd (in which Vidullanka holds a 49% stake), underscores the company’s commitment to cutting-edge energy solutions.
Pioneering Sustainable Finance and Environmental Stewardship
Vidullanka PLC demonstrated its commitment to sustainable development through several key achievements:
- Issued Sri Lanka’s first-ever listed Sukuk, successfully raising Rs. 500 million, which was oversubscribed on its initial day. The Sukuk received an A+ rating from Fitch Ratings and was honoured with the Gold Award for Islamic Product of the Year and Silver for Islamic Finance Deal of the Year at the 10th IFFSA Awards.
- Achieved carbon neutrality, becoming the first power company in Sri Lanka to do so, with its Greenhouse Gas Verification Statement under ISO 14064-1:2018.
- Received two Presidential Environment Awards in 2025 (Bronze and Merit) and five Taiki Akimoto 5S Awards, including Gold for the Lower Kotmale plant and a Merit for its “WeManage” river cleaning project.
Operational Resilience and Community Impact
The year 2025/26 presented unique challenges, including the devastation caused by Cyclone Ditwah in November 2025, which impacted four of Vidullanka’s power plants. However, the company demonstrated remarkable resilience, restoring affected plants and reconnecting them to the national grid within six weeks – a benchmark for swift recovery in the country.
Vidullanka’s commitment to its communities and the environment is further exemplified through its corporate social responsibility arm, “ViduSaviya.” Initiatives span education, environmental restoration, and biodiversity protection, including the management and sustenance of 104,772 trees and the “WeManage” river cleaning project. The company also extended aid to communities affected by Cyclone Ditwah, contributing dry rations and donating Rs. 2.5 million to the Rebuild Sri Lanka fund.
Navigating Challenges and Future Outlook
The company navigated complex local and global challenges, including geopolitical unrest impacting supply chains, local currency depreciation, and transitional issues arising from the unbundling of the Ceylon Electricity Board (CEB) and the establishment of the National Systems Operator (NSO). Vidullanka remains optimistic that these procedural and payment delays will be resolved through constructive collaboration with stakeholders.
Looking ahead, Vidullanka PLC is focused on expanding its renewable energy footprint, with a strong pipeline of projects. The company aims to further leverage opportunities in BESS, expand its dendro power operations both locally and internationally, and pursue EPC assignments in new international markets, particularly in Africa. Its objective is to build a future defined by opportunity, reaching far beyond what is visible today, ensuring sustained growth and impact for generations to come.
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