Hayleys has topped the LMD 100 ranking of Sri Lanka’s biggest listed companies for a third year running, while John Keells Holdings (JKH) has moved up from fifth place to second.

Media Services, which publishes the business magazine LMD, released the top 20 names from its forthcoming 33rd annual edition. It said the 100 companies together grew revenue by about 20 percent in the 2025/26 financial year.

Hayleys reported consolidated revenue of more than Rs. 585 billion, up 19 percent on the previous year. JKH recorded revenue of nearly Rs. 529 billion, an increase of 67 percent.

LOLC Holdings took third place with revenue of more than Rs. 429 billion, up 26 percent. Commercial Bank of Ceylon rose from seventh to fourth, and Carson Cumberbatch placed fifth.

Bukit Darah is sixth. Hatton National Bank, Lanka IOC, CT Holdings and Cargills (Ceylon) complete the top 10. The full rankings and company profiles will appear in the annual edition.

Background

LMD ranks companies listed on the Colombo Stock Exchange by revenue, so the list measures the size of a company’s sales rather than its profit. Media Services made the same point, saying profitability differs from one company to another.

The latest figures cover a period of recovery after the economic crisis that began in 2022, when Sri Lanka suspended repayments on its foreign debt. The economy shrank in 2022 and 2023 before returning to growth.

Media Services said the 20 percent rise came as the economy grew by nearly 5 percent in 2025 and inflation stood at around 5 percent in the later part of the 2025/26 financial year. It said higher corporate revenue is only one part of the recovery, and that risks at home and abroad remain.

What it means

Listed companies employ large numbers of people and supply goods and services ranging from banking and fuel to groceries and tourism. Rising revenue is one sign of activity in those sectors.

It does not on its own show what happens to wages, jobs, dividends or prices. Those are reported separately in each company’s financial statements, which investors and employees can read on the Colombo Stock Exchange website.