Expolanka becomes SL’s first half-a-trillion company

Tuesday, 30 November 2021 03:20 - - {{hitsCtrl.values.hits}}

Market capitalisation crosses Rs. 500 b mark-up, nearly 10 times since end-2020
Remains most consistent performer at CSE; value up by over Rs. 90 b since end-October

Most profitable listed corporate Expolanka Holdings PLC saw its market value surpass the half-a-trillion mark to close yesterday at Rs. 515.1 billion or over 10% of CSE’s total.

This was following a 6.57%, or Rs. 16.23, increase in its share price to Rs. 263.50.

Last year, Expolanka was ranked at number 13 with a market capitalisation of only Rs. 56.7 billion and 2020 closing price of Rs. 29. Yesterday’s standing reflects a near ten-fold increase, or up by Rs. 460 billion, year-to-date.

Expolanka, which has been the most consistent performer this year, saw 7.22 million shares change hands via 4,714 trades for Rs. 1.86 billion.

Analysts said if one had invested Rs. 1 million in Expo shares in November 2020 (at Rs. 26 per share) the value of that would have been worth over Rs. 10 million as of now.

Last week, Expolanka established a new 52-week high of Rs. 250 before closing at Rs. 247.25. It saw 14.7 million of its shares change hands via 11,712 trades for Rs. 3.4 billion.

Expolanka finished October with a market capitalisation of Rs. 422.7 billion with price being Rs. 216.25. The month saw 67.86 million Expo shares changing hands via 52,757 trades for Rs. 14 billion.

Benefitting from the COVID-induced supply chain, logistics bottlenecks, resultant high prices as well as timely acquisitions and other growth strategies, Expolanka has posted Rs. 27 billion in profits within the past four quarters. In the second quarter, profit was Rs. 12 billion, up from Rs. 4.5 billion a year ago.