EquityLK

Industrial Asphalts (Ceylon) PLC

ASPH.N0000Fairly valued

Property & Construction · Construction Materials

Industrial Asphalts (Ceylon) PLC is an investment holding company listed on the Colombo Stock Exchange. The company holds interests in various ventures and investments, including activities in the bitumen space as noted in its CSE activity description.

ASPH shares are up 20.0% over the past year and last closed at Rs 0.60 on Sep 30, 2026.

Rs 0.60
+0.00%
Price history
+20.00%

Monthly seasonality

Monthly total returns by year and calendar month
YearJanFebMarAprMayJunJulAugSepOctNovDec
2026+0.0+0.0-20.0+25.0+20.0+0.0+0.0+0.0+0.0+0.0+0.0+0.0
2025+0.0+0.0+0.0+0.0+0.0+0.0+25.0+0.0+0.0+20.0-16.7+0.0
2024+0.0+0.0+0.0+0.0-25.0+33.3+0.0-25.0+33.3-25.0+33.3+0.0
2023-25.0+33.3+0.0-25.0+33.3+0.0+0.0-25.0+0.0+0.0+0.0+33.3
2022-12.5-14.3-50.0+33.3+0.0+0.0-25.0+33.3+25.0-40.0+33.3+0.0
2021+250.0-28.6-20.0+0.0+25.0+0.0+0.0+0.0+0.0-20.0+0.0+100.0
2020-8.0+7.2+0.0+0.0+0.0+0.0+0.0+0.0+50.0+0.0+0.0-33.3
2019+6.3+4.5+2.8+0.0+0.0+0.0+0.0+0.0+1.3-1.3+0.0+0.8
2018+0.0+0.0+0.0+0.0+0.0+0.0+0.0+0.0+0.0-6.3+0.0+0.0
2017+7.1-3.0-4.7+4.9+1.9+0.0+0.0+0.0+0.0+14.9+0.0+0.0
2016-10.4-10.4+17.9+6.1-17.4+17.3+8.8-13.3-6.3+6.7+17.8-18.3
2015+9.6-2.8-3.5+7.0-6.3+3.3+12.2+2.6+5.0+8.0-11.1-3.1
2014+2.7-9.0+0.0+11.8-4.7+10.3+10.6+13.5-6.8+2.0-0.2+3.9
2013-11.2-10.3+4.2+25.2-1.6-6.1-8.0-10.0+6.0+5.1-0.9+1.9
2012+0.0+0.0+0.0-16.5-31.8+43.6-5.5-13.6+13.4-13.6-13.8+7.7
Average+16.0-2.6-6.1+6.0-0.6+8.5+1.5-2.9+9.3-3.5+3.5+7.7
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+0.0-2.8+0.0+5.5-0.8+0.0+0.0+0.0+1.3+0.0+0.0+0.4
% up38%23%33%58%33%42%33%23%54%43%25%50%
P/E
6.4
P/B
1.52
EPS
Rs 0.09
Div Yield
0.00%
Market Cap
Rs 2.2B
Beta
1.24
ROE
-
Op Margin
142.6% (+80.5pp)

Fundamentals

LineFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue
Rs 62.9M
+115.1%
Rs 29.3M
-46.8%
Rs 55.0M
+55.5%
Rs 35.4M
-67.3%
Rs 108.1M
-73.1%
Rs 402.4M
+166.1%
Rs 151.3M
+243.2%
Rs 44.1M
+59.2%
Operating profit
Rs 35.7M
+205.9%
Rs 11.7M
-94.5%
Rs 213.7M
-4.0%
Rs 222.6M
+76.3%
Rs 126.2M
-36.1%
Rs 197.5M
+824.1%
Rs 21.4M
-95.6%
Rs 485.4M
Net profit
Rs 27.9M
+47.7%
Rs 18.9M
-87.2%
Rs 147.8M
-35.5%
Rs 229.0M
+95.4%
Rs 117.2M
-34.0%
Rs 177.5M
+1,025.1%
Rs 15.8M
-96.7%
Rs 473.7M
turned profitable
EPS
0.01
+0.0%
0.01
-75.0%
0.04
-33.3%
0.06
+100.0%
0.03
-100.0%
266.33
+1,025.2%
23.67
-96.7%
710.59

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

  • 2019 · first and finalRs 4.50
  • 2013Rs 3.00
  • 2012Rs 1.50
  • 2012Rs 1.50
Sector comparisonProperty & Construction · 32 companies
Sector overview Open in screener
1Access Engineering PLC
AEL.N0000
Rs 80.10
P/E
10.2
P/B
1.91
ROE
18.69%
Yield
2.50%
2Overseas Realty (Ceylon) Plc
OSEA.N0000
Rs 51.70
P/E
7.6
P/B
0.95
ROE
12.47%
Yield
3.38%
3Royal Ceramics Lanka PLC
RCL.N0000
Rs 45.70
P/E
6.7
P/B
0.90
ROE
13.60%
Yield
4.38%
4Prime Lands Residencies PLC
PLR.N0000
Rs 38.60
P/E
15.6
P/B
3.19
ROE
20.47%
Yield
2.07%
5Tokyo Cement Company (Lanka) PLC
TKYO.N0000
Rs 80.60
P/E
14.0
P/B
1.10
ROE
7.88%
Yield
3.10%
6RIL Property Plc
RIL.N0000
Rs 22.10
P/E
3.4
P/B
0.69
ROE
20.17%
Yield
4.52%
7Lanka Walltile Plc
LWL.N0000
Rs 43.50
P/E
17.8
P/B
0.52
ROE
2.98%
Yield
5.52%
8Swisstek (Ceylon) PLC
PARQ.N0000
Rs 80.10
P/E
10.2
P/B
2.70
ROE
26.53%
Yield
2.62%
24Industrial Asphalts (Ceylon) PLC
ASPH.N0000 · this company
Rs 0.60
P/E
6.4
P/B
1.52
ROE
1.98%
Yield
0.00%
Sector median · 32 companies
P/E 10.2P/B 1.09Yield 2.39%

About Industrial Asphalts (Ceylon) PLC

Industrial Asphalts (Ceylon) PLC is an investment holding company listed on the Colombo Stock Exchange. The company holds interests in various ventures and investments, including activities in the bitumen space as noted in its CSE activity description. Its business is focused on managing and overseeing strategic investments related to construction materials and associated ventures; operational control and execution are carried out by the Executive Director and the management team under the oversight of the Board of Directors. The company operates in Sri Lanka and maintains corporate governance and regulatory compliance in line with the Colombo Stock Exchange listing rules, supported by Board sub-committees and a Senior Independent Director role to strengthen oversight.

Construction Activity

AI analysis

bearish

Evidence points bearish because the SEC blocked the mandatory offer after the company missed its annual report, leaving a Watch List issue unresolved. The counterpoint is that June net profit rose 323% year-on-year.

Read the full report (Sep 28, 2026) →

News sentiment

Describes news flow, not a forecast
Last 30 days
Negative news flow

5 articles in 30 days: 0 positive, 3 negative, 2 neutral.

24 months positive negative 3-month net
Apr 25: 1 articles, net -1.00Jul 25: 4 articles, net +0.31Jul 26: 11 articles, net +0.18Aug 26: 4 articles, net +0.50Sep 26: 5 articles, net -0.60Oct 24Feb 25Jun 25Oct 25Feb 26Jun 26
Recent news
View all news →
EconomyNext·Sep 24, 2026·Market commentaryPositive
Sri Lanka stocks open higher; materials lead turnover

Colombo Stock Exchange opened higher: ASPI +0.12% (21,109.70), S&P SL20 +0.23% (5,960.94); turnover Rs147.41m, materials led Rs35.96m. Movers included Commercial Bank, Hemas and Industrial Asphalts up, ACL Cables and Haycarb down; People's Leasing debenture was oversubscribed and Colombo Dockyard disclosed director trades.

EconomyNext·Sep 21, 2026·Market commentaryPositive
Sri Lanka stocks open marginally up on Monday; ASPI at 21,070

Colombo Stock Exchange opened marginally higher: ASPI rose 14.13 points to 21,070.39 and the S&P SL20 gained 0.11% to 5,935.33, with turnover of LKR 9.97m. Notable movers included Industrial Asphalts (+16.7%), Prime Lands, Dialog, Haycarb and NDB; SMB Finance and Commercial Bank fell; Softlogic Finance announced a LKR 1.002bn rights issue and Aitken Spence Hotel Holdings proposed up to LKR 5bn debenture issue.

Daily FT·Sep 16, 2026·Regulatory or legalNegative
SEC blocks completion of Industrial Asphalts mandatory offer over Director's share transfer

The SEC has blocked completion of the mandatory offer for Industrial Asphalts (ASPH.N0000) by refusing to approve an executive director's share transfer until the company is removed from the CSE Watch List. Offerors had valid acceptances of 1,880,693,010 shares (50.16%), but completion is stalled due to IAC's non-submission of its FY2026 annual report.

EconomyNext·Sep 15, 2026·Market commentaryNegative
Sri Lanka stocks down, ASPI drops 0.24-pct in Rs2.2bn turnover session

Colombo Stock Exchange closed lower, with the ASPI down 0.24% (51.79 pts) at 21,262.13 on Rs2.23 billion turnover. SMB Finance, Watawala, Sampath Bank and Lion Brewery were top positive contributors while Dialog, Melstacorp and Commercial Bank led declines; a mandatory offer for Industrial Asphalts fell through after the SEC refused a share transfer due to the company being on the CSE watchlist.

EconomyNext·Sep 15, 2026·Regulatory or legalNegative
Industrial Asphalts buyout falls through as Sri Lanka regulator blocks share transfer

Industrial Asphalts' planned buyout collapsed after the SEC refused to approve a share transfer because the company was placed on the CSE Watch List for failing to file its annual report; the joint offer had acceptances of 1,880,693,010 shares (50.16%). IAC shares fell 14.29% to Rs 0.60.

EconomyNext·Sep 11, 2026·Market commentaryPositive
Sri Lanka stocks trade down on Friday, Melstacorp and Sampath Bank drag

Colombo Stock Exchange indices fell on Friday, with the ASPI down 0.23% (48.25 points) to 21,309.49 and the S&P SL20 down 0.03% to 6,002.36 on turnover of Rs221.65 million. Top negatives included Melstacorp, Sampath Bank, Royal Ceramics and Ceylon Tobacco; Ramboda Falls announced a Rs0.50 interim dividend (XD Sept 21).

EconomyNext·Sep 2, 2026·Market commentaryPositive
Sri Lanka stocks down Wednesday midday, banks lead turnover

Colombo Stock Exchange traded mixed midday with the ASPI down 0.07% (14.27 points) at 21,304.04 and the S&P SL20 up 0.09% at 5,991.70; market turnover was LKR 466.2m, led by banks at LKR 179.15m. SANASA Life Insurance said its debt securities will remain on the Watch List after a qualified audit opinion and is planning an equity raise to restore its credit rating within 15 months.

Property & Construction sector: what is happening

Last 14 days to Sep 30, 2026

Property 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.