Hemas posts resilient 9M results led by healthcare

Earnings up 7.5% YoY to Rs. 5.9 b on 9.4% revenue growth at Rs. 96 b Share price up 68% YoY, outperforming ASPI and S&P SL20 at 41.9% and 26.6%, respectively Healthcare segment revenue up 14.6% to Rs. 57.6 b and earnings up 17% to Rs. 3.2 b Post-Ditwah demand stabilising, with encouraging recovery trends evident

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HEMAS Holdings PLC has reported cumulative earnings of Rs. 5.9 billion, up 7.5% year-on-year (YoY), for the nine months to end-December 2025 supported by revenue growth of 9.4% to Rs. 95.8 billion and a significant reduction in net finance costs.

Operating profit was broadly stable at Rs. 9.8 billion, with margin pressures in select Consumer Brands categories offset by robust performance in Healthcare and Mobility, both of which delivered double-digit growth in revenue and earnings.

On a quarterly basis, revenue grew by 5.3% YoY to Rs. 35 billion, driven by continued strength in Healthcare and Mobility. However, quarterly earnings declined by 12.8% to Rs. 2.6 billion, reflecting two temporary factors. First, Consumer Brands performance was impacted by a seasonality shift at Atlas, where sales were advanced into earlier quarters compared to the prior year.

Second, Cyclone Ditwah disrupted distribution and consumer demand during November and December 2025, particularly within Consumer Brands, resulting in lower volumes during the peak quarter.

During the period, the Group commenced a structured, enterprise-wide digital transformation program focused on standardising core business processes, implementing integrated enterprise systems, and strengthening real-time data and reporting capabilities across the Group. Further, the Group strengthened its Artificial Intelligence (AI) capability-building agenda through the establishment of Hemas AI Labs, a structured platform to develop internal capabilities and incubate use-case-led AI solutions across businesses.

Reflecting strong investor confidence, the Hemas share price increased 68% YoY, significantly outperforming the broader market. In comparison, the All Share Price Index (ASPI) and S&P SL Top 20 Index gained 41.9% and 26.6%, respectively.