First Capital Treasuries PLC (FCT) is a standalone non-bank Primary Dealer licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange.
FCT shares are down 27.6% over the past year and last closed at Rs 26.80 on Sep 30, 2026.
Rs 26.80
-0.37%
Price history
-27.57%
Monthly seasonality
Monthly total returns by year and calendar month
Year
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2026
-2.1
-7.4
-9.4
+8.1
-4.2
-4.1
-2.6
-7.0
-2.5
+0.0
+0.0
+0.0
2025
-7.8
-3.6
-4.2
+2.2
+0.0
+1.3
+3.8
+17.5
+27.7
-14.1
-2.2
+21.0
2024
-3.6
-3.7
+6.4
+0.0
-0.4
-4.5
-2.5
-0.4
+7.0
-2.0
+4.2
+7.6
2023
+6.4
-4.4
-5.9
-4.0
+1.4
+16.9
+62.5
-9.4
+0.8
-31.8
+4.6
-7.4
2022
+27.9
-18.1
-32.4
+0.0
+0.0
-2.8
-4.8
+42.4
+47.5
-14.4
+29.2
+2.2
2021
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
+0.0
Average
+4.2
-7.4
-9.1
+1.6
-0.8
+1.4
+11.3
+8.6
+16.1
-15.6
+9.0
+5.8
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
-2.1
-4.4
-5.9
+1.1
-0.2
-2.8
-2.5
-0.4
+7.0
-14.3
+4.4
+4.9
% up
40%
0%
20%
50%
25%
40%
40%
40%
80%
0%
75%
75%
P/E
10.3
P/B
2.39
EPS
Rs 2.61
Div Yield
18.66%
Market Cap
Rs 16.5B
Beta
1.60
ROE
21.0%
Op Margin
-72.0% (-160.7pp)
Fundamentals
Line
FY2026
FY2025
FY2024
FY2023
FY2022
FY2021
FY2020
FY2019
Total income
Rs 3.1B
-71.3%
Rs 10.8B
-59.3%
Rs 26.6B
+166.8%
Rs 10.0B
+1,500.8%
Rs 622.8M
-77.7%
Rs 2.8B
-24.7%
Rs 3.7B
+38.8%
Rs 2.7B
+6.4%
Operating profit
Rs 2.4B
-47.0%
Rs 4.5B
-72.1%
Rs 16.0B
+327.4%
Rs 3.8B
Rs -889.7M
Rs 2.4B
+36.9%
Rs 1.8B
+1,174.6%
Rs 137.4M
-83.3%
Net profit
Rs 1.6B
-47.2%
Rs 3.0B
-72.7%
Rs 11.1B
+286.1%
Rs 2.9B
turned profitable
Rs -652.4M
fell into loss
Rs 1.8B
+52.2%
Rs 1.2B
+1,160.4%
Rs 95.8M
-94.3%
EPS
2.61
-47.2%
4.94
-72.7%
18.10
+286.8%
4.68
-1.06
11.94
-84.8%
78.47
+1,159.6%
6.23
-94.3%
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.
First Capital Treasuries PLC (FCT) is a standalone non-bank Primary Dealer licensed by the Central Bank of Sri Lanka and listed on the Colombo Stock Exchange. The Company operates in Sri Lanka’s sovereign debt market, providing intermediation between the State and market participants and contributing to monetary transmission and secondary market liquidity. FCT is a sub-subsidiary of First Capital Holdings PLC and a member of the Janashakthi Group, and holds an A+ (Stable) rating from Lanka Rating Agency Limited as disclosed in its reporting.
FCT’s core activities comprise market-making and trading in government securities, provision of market access, tactical rate strategies and liquidity solutions across the yield curve for institutional clients, corporates and high-net-worth individuals. The Company emphasises capital-efficient intermediation, disciplined balance sheet management and a focus on duration and sovereign credit risk when structuring its trading and investment activities.
The business model is oriented toward capital efficiency and regulatory compliance, supported by governance, risk management and an ongoing digital transformation to enhance market-making capabilities, client engagement and secondary market liquidity. Sustainability and reporting practices are integrated into its governance and risk frameworks in line with applicable disclosure standards.
First Capital Treasuries has reported a LKR 741 million latest-quarter loss after a profitable audited year. Its 17.4% dividend yield is backed by a payout above earnings, leaving recovery and distribution quality in tension.
First Capital Holdings PLC reported a Loss after Tax of Rs. 726Mn for Q1 FY2026/27 versus a Profit of Rs. 2.15Bn a year earlier, with a Net Trading Loss before operating expenses of Rs. 565Mn as interest-rate moves and adverse mark-to-market trading hit fixed-income businesses; the Primary Dealer reported a Rs. 741Mn loss. The group noted a 100bp policy rate rise and continued contributions from advisory, wealth management and brokering divisions, and First Capital Treasuries PLC and the holding
Sri Lanka Insurance denied allegations about its participation in the 9 April 2026 Treasury Bond auction, saying it invested Rs.6 billion (Rs.2bn in the 1 Jul 2030 bond, Rs.3bn in the 15 Jun 2034 bond and Rs.1bn in the 1 Jul 2037 bond) with approvals in place and will pursue legal action over false claims.
Interest Rates
Daily FT·Apr 3, 2026·Award or certificationPositive
First Capital Treasuries PLC joined the Partnership for Carbon Accounting Financials (PCAF) to measure and disclose the carbon footprint of its financed activities using the PCAF methodology. The move, the company said, aligns with its sustainability agenda and its parent, First Capital Holdings.
Renewable Energy
EconomyNext·Apr 2, 2026·Award or certificationPositive
First Capital Treasuries (FCT.N0000) has joined the Partnership for Carbon Accounting Financials to measure and disclose the carbon footprint of its financed activities. The move will help its parent, First Capital Holdings (CFVF.N0000), understand portfolio emissions and strengthen climate-related risk management.
CA Sri Lanka held a forum warning that prolonged Middle East instability could spike oil prices and disrupt remittances, tourism and tea exports, raising inflation, exchange-rate volatility and risks to the banking/financial sector.
Fuel & Energy PricesRupee & ForexTourism
Ada Derana·Feb 25, 2026·Award or certificationPositive
First Capital Holdings PLC won the Gold Award in Investment Banking at the CA Sri Lanka 60th Anniversary TAGS Awards 2025; First Capital Treasuries PLC won Silver and the Group’s money market fund also won Gold, with multiple recognitions for integrated reporting and sustainability disclosures.
Foreign holdings of Rupee-denominated government securities rose by Rs. 4.99 billion in the week ending 18 Sep, taking total foreign holdings to Rs. 120.28 billion (the highest in about 21 months). S&P upgraded Sri Lanka to CCC+ and T-Bill rates held broadly steady while secondary bond yields traded in a narrow range.
Colombo Stock Exchange rose as the ASPI gained 0.57% to 21,085, led by Sierra Cables and diversified conglomerates; market turnover was Rs 6.5bn with Sierra Cables contributing Rs 1.2bn. Top index contributors included John Keells, Hayleys, Sierra Cables, Melstacorp and Aitken Spence; net foreign inflow was Rs 58.21m.
Colombo's ASPI rose 0.91% (189.84 pts) to 20,965.26, extending a three-session rally; FCT.N0000 declared a Rs.5 dividend and its shares jumped 30.2%, while NTB.N0000, DFCC.N0000, JKH.N0000, CINS.N0000 and MELS.N0000 were key contributors. Turnover was Rs.6.86bn and foreigners were net sellers (Rs.481.2m).
Colombo Stock Exchange closed higher: ASPI +0.91% at 20,965 and S&P SL20 +1.16% at 5,971, with turnover Rs6.86bn led by diversified financials, banks and capital goods. Top contributors included Nations Trust Bank, DFCC, John Keells, Singer and Melstacorp; First Capital Treasuries declared a Rs5 dividend and Acme announced a six‑for‑one rights issue.
Banks & Finance sector: what is happening
Last 14 days to Sep 30, 2026
With policy held at 8.75% amid 8.0% inflation, and Treasury and secondary bond yields rising during the window, banks face continued pressure to reprice deposits and loans while government-securities portfolios remain sensitive to yield moves. The rupee weakened and foreign investors sold rupee bonds for a second week. From 1 November, TIN verification will be required for bank accounts and credit cards, adding onboarding compliance.