COLOMBO, Sri Lanka – 29 August 2026 – Industrial Asphalts (Ceylon) PLC (CSE: ASPH), a key player on the Colombo Stock Exchange, today announced the issuance of an errata to its Interim Financial Statements for the quarter ended 31st March 2026. This corrective filing, dated 28th August 2026, underscores the company’s commitment to transparent and accurate financial reporting.
The updated financial statements provide a clearer picture of the company’s performance and financial position for the first quarter of the financial year 2026. While the specific nature of the corrections leading to this errata was not detailed in the filing, the release of revised statements ensures that investors and stakeholders have access to definitive and accurate financial data.
Key Financial Highlights from the Errata (Q1 2026 vs. Q1 2025)
The corrected Interim Financial Statements reveal a robust performance for the quarter:
- Revenue: The company reported a revenue of Rs 12.38 million for the quarter ended 31st March 2026, marking a 1% increase compared to Rs 12.20 million in the corresponding period of the previous year.
- Profit Before Tax: A significant improvement was noted in Profit Before Tax, which surged by 1339% to Rs 91.05 million, up from Rs 6.33 million in Q1 2025.
- Profit for the Period: Industrial Asphalts (Ceylon) PLC recorded a substantial turnaround, moving from a loss of Rs 0.73 million in Q1 2025 to a profit of Rs 43.31 million for the quarter ended 31st March 2026. This represents an astonishing 6037% increase.
- Total Comprehensive Income: Similarly, total comprehensive income saw a remarkable rebound, reaching Rs 44.72 million for the quarter, compared to a loss of Rs 2.25 million in the prior year.
- Earnings Per Share: Basic and Diluted Earnings Per Ordinary Share stood at Rs 0.012 for the quarter, a strong positive shift from the (Rs 0.000) loss per share reported in Q1 2025.
Balance Sheet Stability and Asset Revaluation
As at 31st March 2026, the company’s Statement of Financial Position shows continued growth and stability:
- Total Assets: Total assets increased by 5% to Rs 1,676.92 million from Rs 1,592.00 million in the previous year.
- Total Equity: Total equity grew by 4% to Rs 1,466.35 million.
- Net Asset Value: Net Assets Value per Ordinary Share improved to Rs 0.39 from Rs 0.38.
A notable aspect of the financial statements is the revaluation of Investment Property. The Board of Directors adopted a conservative valuation of Rs 1,447 million for its Investment Property as at 31st March 2026, provided by KPMG Real Estate & Valuation Services (Private) Limited. This reflects the company’s present leasehold interest in the land, a method considered more appropriate than an earlier valuation based on an effectively freehold basis. This strategic decision contributes to a 9% increase in investment property value compared to the previous year.
The issuance of this errata highlights Industrial Asphalts (Ceylon) PLC’s dedication to maintaining high standards of corporate governance and ensuring that all market disclosures are accurate and reliable for the investment community. Investors are encouraged to review the complete errata document for a full understanding of the updated financial position and performance.
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