Overview
Capital Alliance Holdings is a capital-markets group spanning primary dealing, stockbroking, asset management and corporate finance. Its latest reported quarter marked a sharp operational reversal, with the group moving from profit into loss rather than merely experiencing slower growth.
Price performance
The share closed at LKR 13.50 on 2026-08-14. It was flat over one month while the ASPI gained 1.0%, then fell 13.3% over three months against a 5.6% ASPI decline and 19.4% over one year while the index gained 9.3%.
Valuation
The stock trades at 10.73 times earnings and 1.52 times book value, with annual ROE of 20.0% for the year ended 2025-03-31. P/E and P/B rank at the 62nd and 71st sector percentiles respectively, so the shares are not positioned at the cheap end of finance stocks despite the recent earnings reversal.
The 7.4% dividend yield is at the 85th sector percentile. Dividend direction cannot be established because dividend_history is empty; the only supplied record is a confirmed LKR 1.00 per-share dividend that went ex on 2025-10-14.
News and sentiment
Coverage is thin: one material company article appeared in the 90-day window, and it was positive. The June 2026 rating review and the February listing of CAL Group's third closed-end fund are the only supplied company developments, while no announced undated corporate action is pending.
Financials
Revenue fell 142.7% year-on-year to a negative LKR 1.37 billion in the quarter ended 2026-06-30, while operating profit fell into a LKR 2.08 billion loss and net profit fell into a LKR 2.27 billion loss. The comparison is on the same group basis as June 2025, when operating profit was LKR 2.49 billion and net profit was LKR 1.79 billion; percentage growth is withheld because the latest result is a loss.
Gross margin is unavailable. Because the company earns materially outside its revenue line, the database reports total-income operating and net margins of 164.9% and 180.3%; comparable prior-year total-income margins are not supplied, so the reported 77.6% and 55.6% revenue-based margins are not like-for-like comparisons. No own-history rank is supplied for the latest quarter.
Total equity was LKR 20.12 billion and owners' equity was LKR 18.39 billion at June 2026. Shares outstanding rose from 1,914,549,345 at March 2025 to 2,072,049,345 at June 2026, so the latest EPS of negative LKR 0.90 should not be compared mechanically with the earlier per-share figures. The below-line drag narrowed to LKR 194 million from LKR 706 million, meaning the latest loss was primarily operating rather than caused by finance costs, tax, associates or foreign exchange.
Risks
The largest risk is balance-sheet leverage: total debt was LKR 66.98 billion and gearing was 364.3% of owners' equity at 2026-06-30. Interest cover was negative at 1.28 times because operating profit was a loss, leaving little protection if market activity or treasury income remains weak.
Minority interests represented 17.5% of group profit in the latest balance-sheet period, so group net profit and the earnings attributable to CALH shareholders are not the same pool of money. Current ratio and cash conversion are not applicable measures for this finance business. Sector-wide falling Treasury yields and ample liquidity may alter trading and financing conditions, while 7.3% inflation and a 47% fuel-price rise keep the wider funding environment sensitive.
Outlook
As at 2026-08-15, the next material company event is the filing for the quarter ending 2026-09-30. Exchange timing indicates it is expected between 2026-11-07 and 2027-01-07, and that filing will show whether the June loss was isolated or continued; the current data cannot establish that yet.
The latest figures end on 2026-06-30 and no company news supplied results for a later period. Falling market yields and ample liquidity are the relevant sector backdrop, but their effect on Capital Alliance cannot be separated from the group's own next reported operating result.