JAT gets [SL]A+ ICTA rating with Stable Outlook again
JAT Holdings PLC has now retained this prestigious Issuer Rating for the 6th consecutive year, attesting to the company’s solid financial position and the respect it commands amongst the investment community.
JAT recently wooed investors through a successful oversubscribed IPO and listing on the Colombo Stock Exchange. Aelian Gunawardene – Founder & Managing Director JAT Holdings PLC said, “The [SL]A+ rating from ICRA is a very prestigious rating that is coveted by the corporate community and the standards required to obtain it, are exceptional, rigorous and thorough. JAT Holdings PLC having achieved this rating continuously for 6 years is a clear indicator of the Company’s strength, stability and position.” As a result of its market-leading role and commitment to innovation, JAT Holdings FY2021, the Company’s operating profit margin (OPM) improved to 14.1% against 13.8% in the year prior, supported by a higher revenue share from wood coatings, which enjoys higher margins. In Q1 of FY2022, the company’s OPM further improved to 14.9% on account of improved management efficiencies.
The LKR 1.5 billion raised through its IPO in July 2021 will further enable the company to fund capex while maintaining its healthy capital structure over the medium-term.