LOLC Holdings

Last updated
LOLC Holdings PLC
Company type Public
CSE:  LOLC.N0000
ISIN LK0113N00007
Industry Conglomerate
Founded1980;45 years ago (1980)
Headquarters
Rajagiriya
,
Sri Lanka
Key people
Products Financial services, Agriculture and Plantation, Leisure, Renewable energy, Construction, Manufacturing, Trading
BrandsLOLC, Browns
RevenueIncrease2.svg LKR333.122 billion (2023)
Decrease2.svg LKR21.911 billion (2023)
Decrease2.svg LKR21.671 billion (2023)
Total assets Increase2.svg LKR1.566 trillion (2023)
Total equity Increase2.svg LKR433.974 billion (2023)
Owners
  • Ishara Nanayakkara (48.9%)
  • LOLC Capital (Pvt) Ltd (30.99%)
Number of employees
Increase2.svg 29,000. (2023)
Subsidiaries
Website lolc.com
Footnotes /references
[1]

LOLC Holdings PLC is a Sri Lankan conglomerate listed on the Colombo Stock Exchange (CSE). Originally starting as a non-banking financial company LOLC has grown into one of the largest Sri Lankan conglomerates involved in many sectors and subsidiaries in several countries although it is still mainly involved in the financial sector.

Contents

History

LOLC was originally founded as Lanka ORIX Leasing Company (LOLC) which then grew into the LOLC Group. As diversification and growth continued LOLC became a holding company. [2]

By 2019/20 LOLC was among the most profitable companies in Sri Lanka but adopted a strategy of aggressive expansion without paying dividends to fuel overseas expansion in Cambodia, Myanmar, Pakistan, Philippines, Indonesia, Nigeria and Zambia. [3] [4]

In January 2021 the market capitalization of LOLC Holdings exceeded $1Billion. [5]

LOLC using its Browns Investments PLC also became the partner of China Harbour Engineering Company Limited for the development of the Colombo International Financial Center Mixed Development Project. Becoming the first major local investor in the megaproject. [6]

Subsidiaries

LOLC Holdings includes numerous subsidiaries in various sectors and companies with significant ownership by LOLC. These include, [7]

Financial

Agriculture

Leisure

Energy

Construction

Information Technology

Manufacturing

Finances

Financial Summary
YearGross income LKR (mns)Operating income LKR (mns)Profit LKR (mns)Assets LKR (mns)No. of branches
2022224,10057,18377,5961,371,469133
2021160,48211,84053,233874,944107
2020130,442(3,623)8121,335,919103
2019124,3148,4415,9331,043,747103
2018149,51622,82919,190822,239100
201791,7159,95720,921640,92599
201666,7658,7139,331379,59589
201544,5865,5516,299244,91785
201440,2052,4083,069167,17587
201342,3911,9592,552162,98280

Source: Annual Report, 2021/22 (pp. 314–315) [1]

References

  1. 1 2 "Annual Report 2022/23" (PDF). cse.lk. LOLC Holdings PLC. 2023. Retrieved 6 September 2023.
  2. ↑ "LOLC | History". lolc.com. Retrieved 2021-01-30.
  3. ↑ Nadeera, Dilshan. "LOLC paid no dividends for past several years to fund overseas expansion: Ishara" . Retrieved 2021-02-03.
  4. ↑ "LOLC CONCLUDES US$ 603 MN SALE OF PRASAC AMIDST TURBULENT GLOBAL ECONOMIC CONDITIONS". Daily News. Retrieved 2021-02-03.
  5. ↑ Nadeera, Dilshan. "LOLC Holdings, third $1 billion company at CSE" . Retrieved 2021-01-30.
  6. ↑ Sirimane, Shirajiv. "Port City to bring economic benefits for entire country'". Daily News. Retrieved 2021-05-22.
  7. ↑ "Annual Report 2019/20" (PDF). Retrieved 28 January 2021.
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