• Consolidated revenue of LKR 48.9 billion, up 8.1% YoY
• Group EBIT increased by 1.2% YoY to LKR 7.5 billion, with EBIT margin at 15.3%
• Healthcare revenue up 9.3% YoY to LKR 27.1 billion
• Consumer Brands revenue recorded at LKR 14.5 billion, up 0.9% YoY
• Agribusiness revenue increased by 20.6% YoY to LKR 7.3 billion,

Diversified conglomerate Sunshine Holdings PLC (CSE: SUN) recorded a consolidated revenue of LKR 48.9 billion for the nine months ended 31 December 2025 (9MFY26), reflecting an 8.1% year-on-year increase. The period unfolded in a more demanding operating environment shaped by sector-specific challenges and external disruptions, with the Group maintaining focus on disciplined execution of strategic priorities while continuing selective reinvestment to strengthen long-term growth platforms.

Healthcare remained the largest revenue contributor, accounting for 55.4% of Group revenue, followed by Consumer Brands at 29.7% and Agribusiness at 14.9%. Group earnings before interest and tax (EBIT) increased marginally by 1.2% YoY to LKR 7.5 billion, supported by improved operating performance in Agribusiness and Consumer Brands, which partly offset margin pressure in Healthcare. Profit after tax (PAT) contracted 8.8% YoY to LKR 4.3 billion, driven primarily by lower profitability in the Healthcare sector.

Commenting on the performance, Sunshine Holdings Group Chief Executive Officer, Shyam Sathasivam said, “The past nine months were shaped by sector-specific pressures and external disruptions, and we remained focused on disciplined execution of our priorities while investing selectively to strengthen the platforms that support our long-term growth. While Healthcare delivered continued topline expansion, near-term margin pressure reflected a combination of lower manufacturing performance and pricing pressures following the introduction of pharmaceutical pricing mechanism. At the same time, improved operating performance in Agribusiness and Consumer Brands supported Group earnings resilience, and we remain committed to disciplined capital deployment aligned with clear return thresholds.”

In January 2026, the Group announced the proposed acquisition of a controlling stake in Joint Agri Products Ceylon (Private) Limited (JAPC), strengthening the Consumer Brands sector portfolio through expanded exposure to export-oriented, value-added products including spices and coconut-based products, with established access to key international markets.

Healthcare

The Healthcare sector posted revenue of LKR 27.1 billion, growth of 9.3% YoY, supported by expansion across pharmaceutical agency, distribution, and retail pharmacy segments. The pharmaceutical agency business recorded topline growth of 8.0% YoY, while the medical devices segment grew 7.7% YoY, supported by stable demand across core categories. Healthguard Distribution recorded revenue growth of 24.8% YoY, driven by the revised operating model and new strategic partnerships with leading brands in the healthcare space. Healthguard Pharmacy reported a 13.3% YoY increase in revenue, reflecting higher prescription volumes and value growth across pharmaceutical and wellness categories. Overall sector profitability was moderated by a combination of weaker performance in the manufacturing segment impacted by lower government purchase orders during the 2025 calendar year, compared to the previous year, and pricing pressure arising from the introduction of new pricing mechanism.

Consumer Brands

The Consumer Brands sector, comprising domestic brands and export operations, recorded revenue of LKR 14.5 billion in 9MFY26, up 0.9% YoY, supported by improving domestic market conditions, strengthening consumer sentiment, and expanded distribution coverage. Revenue from the Branded Tea and Confectionery businesses increased by 7.4% YoY. Within Branded Tea, volumes and values recorded steady growth supported by execution in modern trade and retail channels with focused promotions. The Confectionery business recorded volume and value growth in 9MFY26 though third quarter performance was partially impacted by temporary sales and distribution disruptions caused by Cyclone Ditwah. The export business recorded a 4.7% YoY decline in revenue despite higher export volumes, primarily due to sales mix.

Agribusiness

The Agribusiness sector, represented by Watawala Plantations PLC (CSE: WATA), recorded revenue of LKR 7.3 billion in 9MFY26, reflecting 20.6% YoY growth, driven by improved performance in the palm oil segment supported by higher selling prices and a 8.8%YoY increase in sales volumes. Palm oil revenue increased by 25.8% YoY, while the dairy business recorded revenue of LKR 842.7 million, down 8.1% YoY, due to both lower production volumes and selling prices during the period. Overall sector profitability improved significantly, with Agribusiness EBIT margin expanding to 45.6% in 9MFY26 from 37.9% in the corresponding period last year, supported by palm oil performance and continued cost efficiencies across estate operations.