Haycarb PLC reported revenue of Rs. 40.6 billion for the six months ended 30 September 2026, up 42% year-on-year, with profit before tax rising 75% to Rs. 4 billion, the Daily FT reported.
Profit attributable to shareholders grew 98% to Rs. 2.5 billion, lifting earnings per share to Rs. 8.41.
The activated carbon maker, part of the Hayleys group, attributed the result to deeper penetration in gold recovery and water treatment applications and to continued expansion of its energy storage carbon portfolio, where it said global demand for specialised activated carbons used in advanced energy storage remains robust.
Raw material volatility
The half year was marked by significant volatility in the availability and pricing of coconut shell charcoal across several sourcing markets. The company said its supplier network, diversified sourcing model and geographically distributed manufacturing allowed it to maintain continuity of supply.
Haycarb deliberately increased raw material and finished goods inventory during the period to guard against supply-side risk from geopolitical tensions and extreme climate impacts. Trade receivables also rose in line with the higher revenue base.
Capital spending
Group capital expenditure reached Rs. 4.8 billion over the six months, of which Rs. 3 billion was invested by the Sri Lankan operations.
Managing Director Rajitha Kariyawasan said the spending mainly supports “ongoing capacity expansion of higher-value activated carbon products for energy storage applications in Sri Lanka and deployment of the strategic initiative of a greenfield manufacturing location in Philippines.”
Chairman Mohan Pandithage, who also chairs parent Hayleys PLC, said the performance “reflects the continued successful execution of its transformation strategy, focused on expanding its portfolio of value-added activated carbon solutions, market growth, strengthening its global manufacturing footprint, and enhancing resilience across its supply chain within the ESG framework.”
Not reported
The filing gives no segmental breakdown between purification, gold recovery and energy storage revenue, and no figure for the Philippines greenfield investment or its commissioning date. It does not quantify the margin impact of charcoal price volatility, state how much inventory was added, or give a comparative for capital employed.
On sourcing: this report rests on a single verified source. The company’s half-year filing had not yet been picked up by EconomyNext, the Daily Mirror business rail or Hiru at the time of writing; Daily FT’s account is drawn from the company’s own release and quotes its chairman and managing director rather than independent analysis.
