JAT sees PAT up 77% to Rs 2.2 bn in 1Q

JAT Holdings PLC recently released its financials for Q1 of FY 2025, noting strong growth in both its top- and bottom-line. Accordingly, Revenues rose by 3% to Rs. 2.2 billion compared with the same period in the previous year, driven by noticeable growth in the wood coatings and paint brushes categories.

Profit After Tax (PAT) also demonstrated significant growth, expanding by 77% YoY for the quarter under review to record Rs. 124 million, up from Rs. 70 million in the same quarter of the previous year. These achievements were driven by steady and growing sales, supported by efficiencies arising from JAT’s acrylic binder and alkyd resin plants coming online earlier in 2024.

The quarter under review also witnessed certain significant milestones with regard to JAT’s strategy to expand market share and drive overseas expansion. Accordingly, the Group made its inaugural shipment of wood coatings to Australia, while it also opened showrooms for SEAFORM, the German brand of luxury vanities and kitchens it represents – in both Australia and Bangladesh. During the quarter under review JAT was also able to record 41% growth in project sales, 15% growth in wood coatings including Sayerlack, its flagship wood coating product, and 47% growth in the paint brushes category.

CEO, Nishal Ferdinando said, “In a quarter where we experienced adverse weather conditions across Sri Lanka, we are proud to have been able to continue to achieve and drive growth in sales and revenue, leveraging our strong brand equity and operational efficiency. It’s also important to note that, while nominal export revenues declined marginally by 6%, on account of exchange rate volatility in the Bangladeshi Taka, our export volumes have remained steady.”

JAT Holdings PLC also recorded a 5% growth in gross profits, though growth was subdued by unfavourable exchange rate volatility in the Bangladeshi Taka. However, operating profits contracted by 27%, due to rising overheads as the Group expands its operations in Bangladesh. Founder and Managing Director of JAT Holdings PLC, Aelian Gunawardene added, “Relying on strategic decision-making, and leveraging the business acumen of our management team, we have been able to harness efficiencies across our supply chain, particularly in terms of our own acrylic binder and alkyd resin plants now being operational, to deliver exceptional value to our stakeholders.

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