Ex-Pack Corrugated Cartons PLC

PACK.N0000Moderately undervalued

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.

Rs 10.40
+0.97%
Price history
-31.13%

Monthly seasonality

Monthly total returns by year and calendar month
YearJanFebMarAprMayJunJulAugSepOctNovDec
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
% up40%20%20%40%40%40%60%40%40%0%25%40%
P/E
12.4
P/B
0.86
EPS
Rs 0.84
Div Yield
3.56%
Market Cap
Rs 3.5B
Beta
0.57
ROE
7.0%
Op Margin
4.1% (-2.3pp)

Fundamentals

LineFY2026FY2025FY2024FY2023FY2022
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
Peer comparison4 peers in Manufacturing
Rs 55.30
P/E
12.4
P/B
3.29
ROE
26.54%
Yield
5.39%
PACK.N0000 · this company
Rs 10.40
P/E
12.4
P/B
0.86
ROE
6.99%
Yield
3.56%
CARE.N0000
Rs 35.00
P/E
-
P/B
0.54
ROE
-17.26%
Yield
0.00%
Rs 16.30
P/E
11.9
P/B
1.57
ROE
11.56%
Yield
6.13%
P/E
-
P/B
4.68
ROE
-103.81%
Yield
0.00%
Peer median · 4 companies
P/E -P/B 2.43Yield 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

bearish

Ex-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 forecast
Last 30 days
Not enough news to read

No scored news in the last 30 days.

24 months positive negative 3-month net
Oct 24: 1 articles, net -1.00Mar 25: 1 articles, net -1.00Apr 25: 1 articles, net +1.00Sep 25: 1 articles, net +1.00Mar 26: 2 articles, net -1.00May 26: 1 articles, net +1.00Aug 26: 2 articles, net +1.00Sep 24Jan 25May 25Sep 25Jan 26May 26
Recent news
View all news →
Daily FT·Aug 18, 2026·Capacity or capexPositive
Ex-Pack Corrugated Cartons eyes manufacturing operation in Zambia

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.

Exporters
Daily FT·Jul 24, 2026·Market commentary
CSE extends rebound, up 0.24%

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.

Ada Derana·Jul 8, 2026·Award or certification
National Chamber of Exporters Opens Applications for 34th NCE Export Awards

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.

Exporters
Daily FT·May 22, 2026·Management or board changePositive
Hassan Kassim joins Ex-Pack Board

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.

Daily FT·Nov 22, 2025·Award or certificationPositive
Aberdeen Holdings earns GHG Verification deepening commitment to a greener Sri Lanka

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.

Renewable Energy

Manufacturing sector: what is happening

Last 14 days to Sep 30, 2026

Manufacturing 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.

Auto-generated from 16 sector news articles over 14 days. Not investment advice.