Agarapatana Plantations PLC is a Sri Lanka-based tea plantation company engaged in the cultivation, manufacture and sale of black tea. The company operates 20 high-grown tea estates, with 11 estates in the Agras Valley (Western High) in the Nuwara Eliya District and 9 estates in the Uva High category around Haputale in the Badulla District, and operates tea factories that process estate leaf and purchased leaf.
The company’s activities include estate management, tea manufacturing and related plantation businesses; its manufactured assets also include timber plantations, factories and hydropower plants. APL has implemented mechanised harvesting, holds international sustainability certifications (including Rainforest Alliance and Carbon Footprint Certification across most gardens and factories), and is pursuing value-addition, renewable energy installations and an organic tea project at Udaveriya Estate. Lankem Tea and Rubber Plantations (Pvt) Ltd acts as the company’s managing agent and Lankem Developments PLC is the parent; the company acquired Waverly Power (Pvt) Ltd in 2022.
The evidence points bearish as June profit fell 37.3% and the shares rank expensive among plantation peers. The operating margin still widened 0.5 points.
Agarapatana Plantations PLC will seek shareholder approval to redeploy Rs.643.2m of unutilised IPO proceeds toward mechanisation and renewable energy and to extend the utilisation deadline to 30 Sep 2028. Only Rs.29.4m of the Rs.672.6m for factory modernisation was used; the revised plan adds Rs.88m for renewable energy and has a Rs.6.5m shortfall to be met from internal funds.
Colombo market closed higher as ASPI rose 0.25% with turnover of Rs. 7.56bn, boosted by a ~7% stake crossing in National Development Bank. Banking drove activity (67% of turnover) while several banks and financials including NDB, Capital Alliance and others led contributions.
Colombo Stock Exchange ASPI rose 0.11% to 19,826.57 with turnover of 3.2 billion rupees, led by diversified financials. Top movers included Colombo Fort Land & Building, Melstacorp and Agarapatana Plantations (up), while Dipped Products fell and Teejay Lanka rose.
Colombo market extended its positive streak to nine days as the ASPI rose about 34 points (0.17%) on turnover of Rs.5.28 billion. Key contributors included MELS, SEYB, CTC, ACL and SAMP; ACL rose Rs.6.50 while Access Engineering fell 30 cents, and foreigners were net sellers of Rs.36.2m.
Multiple plantation companies (Agarapatana, Elpitiya, Talawakelle, Hatton, Watawala, Kegalle, Kelani Valley, Maskeliya, Namunukula, Kahawatte and Balangoda) are running scholarship programs supporting hundreds of students; Elpitiya alone funds 100 university and 80 A/L students at a cost exceeding LKR 12.4m.
Agarapatana Plantations PLC is scaling mechanized tea harvesting—boosting plucking per worker by 50–60%, cutting plucking costs by ~Rs 50/kg (around a 20–25% reduction in operating costs) and targeting 30% acreage mechanized by end of next year. The company has invested ~Rs 75m in 451 machines and raised tech spend to Rs 200m in 2023/24, improving productivity, worker incomes and profitability.
Tea & Plantation CropsIT & DigitalExporters
Plantations & Agriculture sector: what is happening
Last 14 days to Sep 30, 2026
Heavy August rain and cloud cover cut High Grown tea output to a 34-year monthly low, pulling national production below a year earlier. Tea exports weakened as August merchandise tea exports fell, while eight-month shipments and US dollar earnings declined amid higher freight and insurance costs and a lower average FOB. Sector bodies also pressed for productivity, mechanisation and value addition.