Agriculture-rich diversified conglomerate CIC Holdings PLC (CSE: CIC) recorded steady revenue growth during the year ended 31 March 2025 (FY25), navigating macroeconomic headwinds and intense competition. The Group posted consolidated revenue of Rs. 83.3 billion, reflecting a 9.0% year-on-year (YoY) growth, driven by broad-based momentum across its core businesses.
Group gross profit rose to Rs. 22.2 billion, a 7.3% increase YoY, with gross margins holding steady at 26.7%. Group EBITDA remained resilient at Rs. 12.4 billion, reflecting the continued strength of CIC’s operating model. The Group recorded a PAT of Rs. 6.6 billion, which appears lower in comparison to the previous year due to a one-off gain of Rs. 5.3 billion recognised in FY24 from a bargain purchase related to the JKH investment. Adjusting for this exceptional item, CIC’s underlying performance remained stable.
CIC’s Crop Solutions segment remained the Group’s largest contributor, accounting for 41% of revenue, with continued leadership in Sri Lanka’s agriculture supply chain. Health & Personal Care and Livestock Solutions contributed 22% and 21% respectively, underscoring strong consumer engagement and demand across essential sectors. Notably, Agri Produce posted an increase of Rs. 583 Mn in segmental profit, signalling a revival in local cultivation and processing.
Group EBIT stood at Rs. 10.4 billion, marginally lower than the previous year, reflecting disciplined cost management amidst inflationary distribution and impairment expenses. Net Finance costs improved significantly, declining by 38% YoY to Rs. 1.6billion, supported by better debt structuring and favourable interest rate movements.
While Group EBITDA performance remained robust, reported net earnings were affected by a non-cash loss of Rs. 946 million from dilution in an associate investment, and a 23% decline in equity-accounted investee contributions.
During the period in review, key Group businesses under the five industry sectors, which are Crop Solutions, Agri Produce, Livestock Solutions, Industrial Solutions and Health/Personal Care, performed resiliently. Crop Solutions revenue grew from Rs. 31.2 billion to Rs. 33.2 billion, Livestock Solutions revenue grew from Rs. 16.1 billion to Rs. 17.7 billion and Health and Personal care revenue grew from Rs. 16.2 billion to Rs. 18.4 billion. Additionally, Industrial Solutions revenue increased from Rs. 7.5 billion to Rs. 8 billion.
Commenting on the results, CIC Holdings Group CEO P.A. Seresinhe stated, “FY25 was a year of recalibration. We recorded strong topline growth across all five of our core business segments, reaffirming the Group’s fundamental market strength and integrated value chain. While macroeconomic pressures and accounting impacts from associate movements have affected bottom-line growth, our operational core remains strong. We remain committed to delivering long-term value by accelerating our transformation journey, investing in innovation, and deepening our impact across Sri Lanka’s agricultural and healthcare ecosystems.”
