Overview
Hunas Holdings is a diversified group spanning plantations, hospitality, renewable energy and logistics. The most important change is that the group has moved from a profitable comparative quarter back into a loss, leaving the investment case dependent on restoring consistent earnings across its operating portfolio.
Price performance
The share fell across every reported window, declining 12.7% in one week and 20.9% over three months, compared with ASPI declines of 1.1% and 7.1% respectively. Over one year, HUNA fell 31.4% while the ASPI gained 9.5%. The last close was LKR 14.40 as at 7 August 2026.
The price is at the bottom of its 52-week range, 46.5% below the high. Recent annualised volatility was 40.4%, running 12.1% below the company's own one-year volatility, while 20-day volume was 3.8% above its 60-day average. The three-month decline has no company news explanation in the last 30 days.
Valuation
The valuation is difficult to support on earnings: P/E is unavailable because trailing EPS is negative at LKR 0.147 per share. At 5.38 times book value, HUNA stands well above the diversified-holdings sector median of 1.17 times, while ROE was 9.0% for the latest full year. No sector percentile is supplied, so the precise relative ranking cannot be established.
No dividend is recorded, giving a yield of 0.0% against the sector median of 2.9%. Dividend history is not supplied, so there is no record from which to establish whether the payout is growing, steady or shrinking.
News and sentiment
Coverage was normal rather than unusually loud, with two material articles in the 90-day window. The reported sentiment split was two neutral articles, with no positive or negative articles counted in that measure.
Recent exchange notices included a May 2026 enforcement action concerning a trading suspension and a February 2026 penalty, alongside a June auditor change and a May board sub-committee reconstitution. No confirmed or undated corporate actions are recorded.
Financials
The latest reported quarter, ended 31 March 2026, is historical and recorded revenue of LKR 213 million, down 8.0% year-on-year. Gross margin narrowed from 40.5% to 28.5%, although that remains among the company's best March readings at 2nd of 5. Net margin fell from 238.4% to -10.3%, with the latest result ranked 2nd of 4 March quarters on the comparable group basis.
Net profit fell into a LKR 22 million loss from a LKR 552 million profit in the comparative quarter. Operating profit and the below-line drag are not reported for March 2026, so the relative contribution of operations, finance costs, tax, associates and foreign exchange cannot be separated. The comparison is valid because both quarters are filed on a group basis.
The latest full-year record to March 2025 was stronger: revenue grew 67.0%, net profit turned profitable at LKR 223 million, and operating and net margins were 37.8% and 16.7%. Latest reported group equity was LKR 2.65 billion, compared with LKR 2.85 billion in the comparative March 2025 quarter. Shares outstanding were 849.03 million in the latest quarter; no comparable March 2025 share count is reported.
Risks
Liquidity is the most immediate balance-sheet risk. The current ratio was only 0.22 at March 2025, meaning current liabilities substantially exceeded current assets, while free cash flow was negative at LKR 526 million.
Leverage adds pressure: debt was LKR 1.41 billion, equal to 59.0% of owners' equity, and interest cover was only 2.01 times. Cash conversion was -0.9 times, so the prior full-year profit did not arrive as operating cash. Minority shareholders represented 3.9% of full-year profit, a smaller but relevant difference between group earnings and the earnings attributable to HUNA shareholders.
Plantations account for 65% of reported segment revenue and face sector-wide labour shortages, with 143,087 departures reported, while tea's year-to-date national sales average was lower in US dollar terms. Energy contributes 35%; unchanged electricity tariffs and volatile fuel costs create a separate operating sensitivity.
Outlook
The next key event is the June 2026 financial filing, which supersedes the March figures used here. As at 8 August 2026, it is due now, with the exchange timing range running from 28 July to 26 October. That filing will show whether the return to loss was contained or carried into the next quarter.
Rates have eased as T-bill yields fell for a fourth consecutive week, which provides a potentially friendlier financing backdrop for a group carrying finance costs, but the supplied data does not show a company-specific reduction in its interest burden. The next filing is therefore the clearest available test of earnings quality, liquidity and operating recovery.