Ex-Pack Corrugated Cartons PLC has obtained preliminary CBSL approval to establish a corrugated carton manufacturing operation in Zambia as its first overseas expansion. The board approved the proposal on 13 August; investment size is under assessment and final implementation awaits further regulatory approvals.
Manufacturing · Containers/Packaging
Ex-Pack Corrugated Cartons PLC is a Sri Lankan manufacturer and marketer of high-quality corrugated packaging solutions, producing regular slotted cartons, die-cut boxes, tuna and tea cartons, corrugated pallets and other specialised packaging for domestic and export markets.
PACK shares are down 31.1% over the past year and last closed at Rs 10.40 on Sep 30, 2026.
Monthly seasonality
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.7 | -0.7 | -10.6 | +8.7 | -5.8 | -6.9 | -2.5 | -3.4 | -9.6 | +0.0 | +0.0 | +0.0 |
| 2025 | -5.5 | -3.9 | -6.1 | -1.4 | +4.4 | +4.2 | +2.0 | +2.0 | -1.9 | -5.3 | -2.8 | +1.4 |
| 2024 | -1.6 | -0.8 | +18.2 | +2.1 | -1.4 | -3.5 | -5.8 | -0.8 | +11.5 | -4.1 | +1.4 | +15.6 |
| 2023 | +19.8 | +2.5 | -9.3 | -2.7 | -12.7 | +9.7 | +8.8 | -9.5 | +0.0 | -4.5 | -1.6 | -1.6 |
| 2022 | -9.5 | -20.1 | -38.4 | -11.2 | +33.3 | -19.8 | +7.5 | +50.0 | +14.7 | -14.5 | -2.7 | -8.4 |
| 2021 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | +0.0 | -6.0 |
| Average | +0.8 | -4.6 | -9.2 | -0.9 | +3.6 | -3.3 | +2.0 | +7.7 | +2.9 | -7.1 | -1.4 | +0.2 |
| 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 | -1.6 | -0.8 | -9.3 | -1.4 | -1.4 | -3.5 | +2.0 | -0.8 | +0.0 | -4.9 | -2.1 | -1.6 |
| % up | 40% | 20% | 20% | 40% | 40% | 40% | 60% | 40% | 40% | 0% | 25% | 40% |
Fundamentals
| Line | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Revenue | Rs 9.8B -1.0% | Rs 9.9B +0.6% | Rs 9.9B -26.6% | Rs 13.5B +57.7% | Rs 8.5B |
| Operating profit | Rs 327.1M -64.5% | Rs 922.0M -9.3% | Rs 1.0B -57.0% | Rs 2.4B +178.5% | Rs 849.3M |
| Net profit | Rs 281.0M -38.0% | Rs 453.0M -22.0% | Rs 580.5M -58.9% | Rs 1.4B +128.2% | Rs 619.1M |
| EPS | 0.84 -38.2% | 1.36 -21.8% | 1.74 -59.0% | 4.24 +95.4% | 2.17 |
Compared with the same period a year earlier.
Per-share figures are as reported, not adjusted for splits.
Recent dividends
- 2026 · second interimRs 0.37
- 2026 · first interimRs 0.10
- 2025 · second interimRs 0.26
- 2025 · first interimRs 0.36
- 2024 · second interimRs 0.37
- 2024 · first interimRs 0.30
- 2023 · second interimRs 0.72
- 2023 · first interimRs 1.35
| # | Company | Price | Mkt cap | P/E | P/B | EPS | ROE | Div Yield |
|---|---|---|---|---|---|---|---|---|
| 1 | GLAS.N0000 | 55.30 | Rs 52.5B | 12.4 | 3.29 | 4.47 | 26.54% | 5.39% |
| 2 | PACK.N0000 · this company | 10.40 | Rs 3.5B | 12.4 | 0.86 | 0.84 | 6.99% | 3.56% |
| 3 | CARE.N0000 | 35.00 | Rs 3.0B | - | 0.54 | -11.25 | -17.26% | 0.00% |
| 4 | JFP.N0000 | 16.30 | Rs 2.8B | 11.9 | 1.57 | 1.37 | 11.56% | 6.13% |
| 5 | ACME.N0000 | 3.60 | Rs 2.4B | - | 4.68 | -2.04 | -103.81% | 0.00% |
| Peer median · 4 companies | - | - | - | 2.43 | - | - | 2.69% |
About Ex-Pack Corrugated Cartons PLC
Ex-Pack Corrugated Cartons PLC is a Sri Lankan manufacturer and marketer of high-quality corrugated packaging solutions, producing regular slotted cartons, die-cut boxes, tuna and tea cartons, corrugated pallets and other specialised packaging for domestic and export markets. The company supplies packaging across sectors such as FMCG, pharmaceuticals, apparel, tea, seafood and food processing. The business provides end-to-end services including conception, design, prototyping and production of die-cut, laminated, telescopic and value-added cartons, supporting both bespoke and high-volume customer requirements. Recent investments in advanced manufacturing technology and a state-of-the-art corrugator underpin its focus on quality, speed and customised solutions. Headquartered in Kelaniya, Ex-Pack is part of the Aberdeen Holdings group and has a group subsidiary, Neptune Papers (Pvt) Limited. The company maintains quality and environmental certifications such as ISO 9001, ISO 14001, WRAP and FSC-aligned sourcing where applicable.
AI analysis
bearishEx-Pack's latest quarter shows stronger sales but a return to loss as margins weakened sharply. Gearing has reached 118.2%, making profitability recovery the central concern.
Read the full report (Aug 19, 2026) →News sentiment
Describes news flow, not a forecastNo scored news in the last 30 days.
Colombo market extended its rebound as the ASPI rose 0.24% (49.81 pts) to 21,199.37 and the S&P SL20 gained 0.22% to 5,945.87, with turnover about Rs.1.1bn and foreigners net sellers of Rs.188.6m. Top contributors included HNB, CARS, CINS, NDB and TKYO; NDB, SAMP and PKME gained while MELS fell and JKH closed flat.
The National Chamber of Exporters opened applications for the 34th NCE Export Awards, closing Sept 30, 2026, with the awards ceremony on Dec 11 at Shangri‑La Colombo. Ex-Pack Corrugated Cartons PLC is the main sponsor and Dialog Enterprise is the event's digital technology partner.
Ex-Pack Corrugated Cartons PLC appointed Hassan Kassim to its board as a Non-Executive, Non-Independent Director. Kassim is Deputy Chairman and Group Director of Aberdeen Holdings and serves as Managing Director of Amana Takaful PLC, bringing cross-sector leadership experience.
Dividend · Rs 0.37 · XD Mar 27, 2026
Second Interim dividend of LKR 0.37/share; XD 2026-03-27; record 2026-03-29; payable 2026-04-21; FY 2025/2026
Aberdeen Holdings achieved Greenhouse Gas (GHG) Verification Certification under ISO 14064-1:2018. The certification underlines the group's sustainability efforts across its businesses, including subsidiary Ex-Pack Corrugated Cartons PLC.
Aberdeen Holdings has achieved GHG Verification Certification under ISO 14064-1:2018, reinforcing its sustainability measures; subsidiaries such as Ex-Pack Corrugated Cartons PLC (PACK.N0000) are cited as driving renewable energy and circular-economy initiatives.
Aberdeen Holdings achieved GHG Verification Certification under ISO 14064-1:2018, reinforcing its commitment to measuring and reporting greenhouse gas emissions. The group cited subsidiaries including Ex-Pack Corrugated Cartons PLC (PACK.N0000) as driving renewable energy and carbon‑neutral manufacturing initiatives.
Manufacturing sector: what is happening
Last 14 days to Sep 30, 2026Manufacturing export conditions weakened in August as apparel, tea and coconut-based product shipments fell, although merchandise exports remained higher over January-August. Exporters also reported certification delays, cost pressures and cheaper imported rubber undermining local value addition. Oil-price swings added uncertainty to energy and transport inputs, while industry proposals continued to stress higher-value agrifood processing, traceability and mechanisation.
The stories behind it
Auto-generated from 16 sector news articles over 14 days. Not investment advice.