CSE filing·Aug 19, 2026
Change In Acccounting FormatProperty & Construction · Engineering & Construction
Alpha Fire Services PLC is a Sri Lanka–based provider of fire protection, detection and suppression systems, offering end-to-end solutions including project design, supply, installation and maintenance for large-scale and industrial clients.
AFS shares are down 9.2% over the past year and last closed at Rs 24.60 on Sep 30, 2026.
Rs 24.60
-3.53%Price history
-9.23%
Monthly seasonality
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +54.1 | -2.4 | -12.0 | +5.1 | -8.6 | -7.4 | -10.5 | -7.1 | -3.8 | +0.0 | +0.0 | +0.0 |
| 2025 | +5.7 | -2.2 | -2.2 | +5.7 | +12.9 | +51.4 | +13.8 | +60.2 | -6.6 | +4.4 | -8.1 | +2.3 |
| 2024 | -17.6 | -6.5 | +31.0 | +3.9 | -5.1 | -5.3 | -1.4 | +0.0 | +0.0 | +1.4 | +1.4 | +20.8 |
| 2023 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | -4.8 | -10.3 | +0.3 | +2.8 | +1.6 |
| Average | +14.1 | -3.7 | +5.6 | +4.9 | -0.3 | +12.9 | +0.6 | +12.1 | -5.2 | +2.0 | -1.3 | +8.3 |
| ASPI average | +3.1 | -2.7 | -4.7 | +2.0 | +0.2 | +0.8 | +3.1 | +2.2 | +3.2 | -0.1 | +1.0 | +3.0 |
| Median | +5.7 | -2.4 | -2.2 | +5.1 | -5.1 | -5.3 | -1.4 | -2.4 | -5.2 | +1.4 | +1.4 | +2.3 |
| % up | 67% | 0% | 33% | 100% | 33% | 33% | 33% | 25% | 0% | 100% | 67% | 100% |
P/E
26.5
P/B
4.21
EPS
Rs 0.93
Div Yield
-
Market Cap
Rs 933.6M
Beta
-0.65
ROE
16.0%
Op Margin
-0.7% (-21.9pp)
Fundamentals
| Line | FY2026 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|---|
| Revenue | Rs 503.2M +20.9% | Rs 416.3M +27.5% | Rs 326.6M +12.7% | Rs 289.7M |
| Operating profit | Rs 82.6M +22.4% | Rs 67.5M +53.7% | Rs 43.9M +73.3% | Rs 25.3M |
| Net profit | Rs 52.0M +31.8% | Rs 39.4M +60.3% | Rs 24.6M +75.9% | Rs 14.0M |
| EPS | 1.37 +31.7% | 1.04 +60.0% | 0.65 -87.2% | 5.07 |
Compared with the same period a year earlier.
Parent company only. Subsidiaries are not included.
Per-share figures are as reported, not adjusted for splits.
Recent dividends
- 2024 · finalRs 0.15
- 2024Rs 0.12
Peer comparison2 peers in Property & Construction
| # | Company | Price | Mkt cap | P/E | P/B | EPS | ROE | Div Yield |
|---|---|---|---|---|---|---|---|---|
| 1 | AEL.N0000 | 80.10 | Rs 80.1B | 10.2 | 1.91 | 7.84 | 18.69% | 2.50% |
| 2 | LUMX.N0000 | 8.90 | Rs 2.4B | - | 1.44 | -0.07 | -0.43% | - |
| 3 | AFS.N0000 · this company | 24.60 | Rs 933.6M | 26.5 | 4.21 | 0.93 | 16.01% | - |
| Sector median · 32 companies | - | - | 10.2 | 1.09 | - | - | 2.39% |
AEL.N0000
Rs 80.10
P/E
10.2
P/B
1.91
ROE
18.69%
Yield
2.50%
LUMX.N0000
Rs 8.90
P/E
-
P/B
1.44
ROE
-0.43%
Yield
-
AFS.N0000 · this company
Rs 24.60
P/E
26.5
P/B
4.21
ROE
16.01%
Yield
-
Sector median · 32 companies
P/E 10.2P/B 1.09Yield 2.39%
About Alpha Fire Services PLC
Alpha Fire Services PLC is a Sri Lanka–based provider of fire protection, detection and suppression systems, offering end-to-end solutions including project design, supply, installation and maintenance for large-scale and industrial clients. The Company holds CIDA EM1 (ICTAD) status and is ISO 9001:2015 certified. Its operations span turnkey project delivery, product supply and ongoing servicing, and it has recently expanded into consumer fire safety products for households and condominiums. Alpha Fire Services maintains an in-house technical team capable of delivering specialist solutions such as addressable alarm systems, operates facilities in Polgasowita, and is pursuing regional opportunities including projects in the Maldives. The Company serves both private and public sector clients and is developing a trading arm to broaden its supply role and diversify revenue streams.
AI analysis
bearishAlpha Fire's June quarter fell into a net loss, with operating margin at -0.7%. The stock still trades at a steep sector valuation premium.
Read the full report (Sep 1, 2026) →News sentiment
Describes news flow, not a forecastLast 30 days
Not enough news to read
No scored news in the last 30 days.
24 months positive negative 3-month net
Recent news
Daily FT·Jul 14, 2026·M&A / stake changePositive
Alpha Fire to acquire Icon Engineering in Rs. 260 m share swap, eyes Rs. 1 b revenue milestoneAlpha Fire Services PLC will acquire 100% of Icon Engineering for Rs. 260 million via a share swap issuing 9,122,807 new Alpha Fire shares; the combined operations are expected to generate over Rs. 1 billion in revenue and raise profitability by 30%. The transaction is a related-party major transaction and is subject to CSE and shareholder approvals.
Construction ActivityExporters
EconomyNext·Jul 13, 2026·M&A / stake changePositive
Sri Lanka's Alpha Fire to buy Icon Engineering in Rs260mn share swapAlpha Fire Services (AFS.N0000) will acquire Icon Engineering for Rs260 million in a share-swap, issuing 9,122,807 new shares valued at Rs28.50 each. The deal gives new investors a 19.38% stake, expands MEP/HVAC operations into the Maldives and is expected to boost group profitability ~30% and bring USD inflows.
Construction ActivityExporters
EconomyNext·Jul 13, 2026·Market commentaryPositive
Sri Lanka stocks return to red, banks drag ASPIColombo Stock Exchange's ASPI fell 0.40% (86.60 pts) to 21,678.96 and the S&P SL20 dropped 0.33% to 6,057.66, with market turnover Rs194.1m as banks weighed on the index. Alpha Fire Services announced a proposed acquisition of Icon Engineering, projecting group revenue above Rs1bn, ~30% higher profitability and foreign currency inflows from Maldives projects.
CSE filing·Jul 13, 2026
The disclosure has been published on the CSE website. Please note the below trading sessions for AFS.N0000. Auction session will be from 10.00 a.m to 10.15 a.m. Regular Trading session will commence at 10.15 a.m.CSE filing·Jul 13, 2026Positive
ALPHA FIRE SERVICES PLC– DISCLOSURE OF PROPOSED EXPANSION OF BUSINESS AND ISSUE OF NEW SHARES BY WAY OF A SHARE SWAP THROUGH A PRIVATE PLACEMENTConstruction Activity
CSE filing·Jul 13, 2026
Please note that the trading of AFS.N0000 has been halted pending Disclosure.Daily FT·Feb 5, 2026·Promotional / marketingPositive
Alpha Fire Services unveils new brand logoAlpha Fire Services PLC unveiled a new logo and outlined growth plans, including regional service centres across Sri Lanka, a trading arm to enter the Maldives, and relocation to a newly acquired facility in Polgasowita. Management cited stronger governance, operational efficiency and rising construction-led demand for fire safety products.
Construction ActivityExporters
CSE filing·Feb 2, 2026
CORPORATE DISCLOSURE - UNUSUAL TRADING ACTIVITY IN THE SECURITIES OF ALPHA FIRE SERVICES PLCDaily FT·Oct 30, 2025·Management or board change
Menaka Athukorala joins Alpha Fire as new ChairmanAlpha Fire Services PLC appointed Menaka Athukorala as Non-Executive Chairman. He has over 30 years of experience in plantation management, renewable energy and corporate leadership.
Renewable EnergyTea & Plantation Crops
Property & Construction sector: what is happening
Last 14 days to Sep 30, 2026Property and construction faced a mixed policy backdrop: the proposed property tax was deferred from the 2027 Budget, while TIN certification becomes mandatory from 1 November for building-plan approvals and land registration, adding a compliance step to transactions. Public construction activity progressed through the Muthurajawela fuel-terminal contract and planned hospital infrastructure projects. Construction services exports fell in August.
The stories behind it
Auto-generated from 12 sector news articles over 14 days. Not investment advice.