First Capital records Rs. 2.10bn PAT and core earnings of Rs. 6.59bn

Rajendra Theagarajah

Dilshan Wirasekara

First Capital Holdings PLC, a subsidiary of JXG (Janashakthi Group) delivered a steady performance during FY2025/26, recording a Profit after Tax of Rs. 2.10 billion for the year ended 31 March 2026. While this compares to Rs. 5.02 billion recorded in the previous year, the Group’s performance reflects its ability to navigate a dynamic operating environment while sustaining long-term value creation.

The year was shaped by the impacts of cyclone Ditwah as well as heightened geopolitical tensions arising from the Middle East conflict, which negatively influencedbroader capital market conditions. Additionally, the settlement of long-standing tax assessments relating to VAT on financial services that impacted reported outcomes during the latter part of the year. Against this backdrop, the Group remained focused on maintaining operational stability, disciplined execution and strategic continuity across its business verticals.

The Primary Dealer and Corporate Debt Securities businesses continued to deliver strong operational performance, contributing to a Net Income before Operating Expenses of Rs. 6.59 billion for FY2025/26. With a disciplined execution focus and a well-structured business model, the Group remains well-positioned to capitalize on improving market conditions and future growth opportunities.

The Group’s Primary Dealer division recorded a Profit after Tax of Rs. 1.60 billion for the year ended 31 March 2026, supported by Rs. 1.75Bn in net interest income and Rs. 1.44 billion in trading gains from government securities, reaffirming its position as a key contributor to the Group’s performance.

The Corporate Finance Advisory and Dealing Securities division delivered a Profit after Tax of Rs. 0.93 billion, supported by Rs. 2.29 billion in equity trading gains, driven by sustained client engagement, strong execution capabilities and continued market activity.

Meanwhile, the Stock Brokering division recorded a Profit after Tax of Rs. 242 million, compared to Rs. 71 million in the previous year, supported by improved market participation, higher execution volumes and enhanced operational efficiencies.

The Wealth Management division reported a Profit after Tax of Rs. 84 million, while Assets Under Management stood at Rs. 96.2 billion as of 31 March 2026, reflecting continued investor confidence, prudent portfolio management and the strength of the Group’s advisory platform.

In January 2026, First Capital was awarded Superbrands status, further reinforcing its position as one of Sri Lanka’s most trusted and recognised financial services brands.

Commenting on the Group’s performance, Rajendra Theagarajah, Chairman of First Capital Holdings PLC, stated that FY2025/26 was characterised by evolving global and domestic market conditions that influenced investor sentiment and capital market activity, particularly during the latter part of the financial year. He said that the Group’s ability to maintain operational strength amidst changing market dynamics reflects the value of its diversified business model, structured governance framework and prudent strategic direction. He further commented that First Capital remains focused on sustaining long-term stakeholder value while continuing to strengthen its position within Sri Lanka’s financial services sector.

Dilshan Wirasekara, Managing Director/CEO of First Capital Holdings PLC, highlighted that the Group’s core operating segments continued to deliver meaningful contributions throughout the year, supported by strong client engagement, execution strategy and the strength of its integrated financial services platform.