![]() Logo of Lanka Tiles PLC | |
Formerly | Lanka Floortiles (1999-2013) |
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Company type | Public |
CSE: TILE.N0000 | |
ISIN | LK0114N00005 |
Industry | Capital goods |
Founded | March 30, 1984 |
Headquarters | , Sri Lanka |
Key people |
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Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | ![]() |
Parent | Lanka Walltiles PLC (68.217%) |
Subsidiaries | Swisstek (Ceylon) PLC (47.80%; Associate company) |
Website | www |
Footnotes /references [1] |
Lanka Tiles PLC, doing business as LANKATILES, is a glazed ceramic and porcelain tile manufacturing company in Sri Lanka. The company was incorporated in 1984 and two years later was listed on the Colombo Stock Exchange. Lanka Tiles was a part of the government-owned Ceylon Ceramics Corporation. In 1991, all but one division of Ceylon Ceramics Corporation was incorporated as Lanka Ceramic Limited. Ceylon Theatres acquired Lanka Ceramic from the government of Sri Lanka. In 2013, Royal Ceramics acquired 80% of the stake in Lanka Ceramic, thus bringing Lanka Tiles under the umbrella of the Vallibel One Group. The company capitalised on an anti-dumping duty imposed by the government of the United States on goods originating in China and started exporting mosaic tiles to the United States. Lanka Tiles was one of the 100 most valuable brands in Sri Lanka in 2022. Due to weakening demand as a result of the prevailing economic crisis in the country, the company restarted its operations in India. Lanka Tiles is also an LMD 100 company in Sri Lanka.
Lanka Tiles was incorporated on 30 March 1984. [2] The company was listed on the Colombo Stock Exchange two years later. Lanka Tiles and its present parent Lanka Walltiles were parts of the government-owned Ceylon Ceramics Corporation. In 1987, the company exported 80% of its production. [3] In line with the government policy of privatisation, all but one division of Ceylon Ceramics Corporation incorporated as Lanka Ceramic Limited in 1991. [4] When the government divested its stake in Lanka Ceramic, Ceylon Theatres acquired 65% of the stake. [5] Lanka Tiles was renamed Lanka Floortiles after the acquisition. [6]
Workers of the company launched a strike action in August 2010, demanding a pay increase. The strike action was resolved after 19 days following successful salary negotiations with the trade union. [7] 450 workers out of a 580-cadre strike again in 2011. The workers agreed to abide by the collective agreement. [8] A consortium led by Royal Ceramics acquired 80% of Lanka Tiles's parent Lanka Ceramic in May 2013, bringing Lanka Tiles under the Vallibel One Group. [9] With the acquisition, Royal Ceramics gained a near-monopoly of the Sri Lankan tile market. [10] Lanka Tiles invested LKR200 million to export mosaic tiles to the United States in 2019. The company signed an agreement with the Chinese firm Foshan Shiwan Yulong Ceramic and Benjamin Malloy. The agreement was signed when the United States government imposed an anti-dumping duty on ceramic products of Chinese origin. [11] In the same year, Lanka Tiles expanded its contract manufacturing in India to combat cheap imports from India. A few years earlier, the company signed an agreement with Ambani Vitrified to manufacture glazed vitrified tiles. [12]
Lanka Tiles is included in the 2022 100 most valuable brand index in Sri Lanka. The company ranked 48th, rising by ten ranking positions from the previous year. [13] [14] Even though the government imposed an import ban on tiles, Lanka Tiles is facing rising raw material, machinery costs and weakening demand due to the prevailing economic crisis. [15] Lanka Tiles restarted its tile manufacturing operations in India and also planning on opening a distribution channel. Despite the company ramping up production, the company came to realise its demand was falling in Sri Lanka and inventories were building up. [16]
Lanka Tiles was one of the LMD 100 companies in Sri Lanka. Lanka Tiles is ranked 68th in the 2022 rankings. LMD 100 lists the quoted companies in Sri Lanka by revenue annually. [17]
Vallibel One PLC is one of Sri Lanka's largest conglomerate companies. The company controls a chain of subsidiaries and listed on the Colombo Stock Exchange since 2011. The company has controlling stakes in LB Finance, Royal Ceramics Lanka, and Delmege Group. The company was included in S&P Sri Lanka 20 Index in 2018. Vallibel One is one of the LMD 100 companies in Sri Lanka.
C T Holdings PLC, formerly known as Ceylon Theatres Limited, is an investment holding company and one of the largest conglomerates in Sri Lanka. The company was incorporated in 1928 by Chittampalam A. Gardiner and quoted on the Colombo Stock Exchange ever since. In 2019, Brand Finance ranked C T Holdings eighth amongst the most valuable conglomerates in Sri Lanka with a brand value of LKR18,981 million. C T Holdings also ranked eighth in the LMD 100, a list of leading listed companies in Sri Lanka by the business magazine, LMD. The company holds a 71% stake in Sri Lanka's largest food company, Cargills (Ceylon).
Chevron Lubricants Lanka PLC is a manufacturer, distributor and marketer of Petroleum-based lubricants in Sri Lanka. The company is one of the constituents of the S&P Sri Lanka 20 Index and the Chevron Corporation holds a controlling stake (51.00%) of the company's stocks. The company offers engine oils, gear oils, transmission oils under the brand name Havoline while offering diesel vehicle engine oils, industrial lubricants, coolants, brake fluids under the brand name Delo. For the financial year 2019/20, Chevron Lubricants Lanka was ranked 67th in LMD 100, a list of listed companies by revenue in Sri Lanka.
L B Finance PLC sometimes spelt LB Finance, is a Sri Lankan non-bank financial institution. The company is incorporated in 1971 and initially, the majority of shares were held by Lewis Brown & Company. The company was listed on the Colombo Stock Exchange in 1997. In 2003, Dhammika Perera acquired the company and became a subsidiary of Vallibel One. Currently, the company is one of the components of the S&P Sri Lanka 20 Index. Brand Finance ranked the company 24th in the 100 most valuable brands in Sri Lanka. The company placed 39th in the LMD 100 for the financial year 2019/20.
Royal Ceramics Lanka PLC branded as Rocell, is a Sri Lankan holding company and is also engaged in manufacturing ceramic tiles and bath ware. The company was founded in 1990 and in 1994, it was listed on the Colombo Stock Exchange. The company is one of the constituents of the S&P Sri Lanka 20 Index. LMD, a Sri Lankan business magazine placed the company 38th in the LMD 100, a list of leading listed companies in Sri Lanka. Brand Finance ranked 74th amongst the 100 most valuable brands in Sri Lanka.
Lankem Ceylon PLC is a chemicals, paints and consumer goods manufacturing company in Sri Lanka. The company also engaged in the hospitality industry by owning and operating resorts in Sri Lanka. The company is incorporated in 1964 by Royal Dutch Shell and listed on the Colombo Stock Exchange in 1970. Brand Finance ranked the company 88th most valuable brand in Sri Lanka. The company ranked 61st in LMD 100, an annual list of quoted companies by revenue in the financial year 2019–20.
Dipped Products PLC is a rubber glove manufacturer in Sri Lanka. The company also manages rubber and tea plantations. The company was incorporated in 1976 and listed on the Colombo Stock Exchange in 1983. The company is one of the components of the S&P Sri Lanka 20 Index. Sri Lankan conglomerate, Hayleys is the effective controlling shareholder of Dipped Products. The company was ranked 26th in LMD 100, an annual list of quoted companies in Sri Lanka by revenue.
Brown and Company PLC, sometimes called Browns Group, is a conglomerate holding company in Sri Lanka. The company was founded by James Brown, a 25-year-old engineer and mechanic from London who arrived in Ceylon in 1872. In 1892, the company was incorporated and in 1991 the company became a listed company on the Colombo Stock Exchange. The company was included in S&P Sri Lanka 20 Index in June 2021. Brown and Company is one of the LMD 100 companies, an annual list of Sri Lankan listed companies by revenue, having ranked 42nd in the 2020/21 edition.
Haycarb PLC is a coconut shell-based activated carbon manufacturing company in Sri Lanka. Haycarb was incorporated in 1973. The company controls 16% of the world's market share. Haycarb operates manufacturing plants in Sri Lanka, Thailand and Indonesia, while marketing offices are located in the United States, the United Kingdom and Australia.
Vallibel Power Erathna PLC is a renewable energy company in Sri Lanka. The company operates three small hydropower projects. The company was incorporated in 2001 and in 2006, the company was listed on the Colombo Stock Exchange. Vallibel Power Erathna won the special honoree award in Forbes Asia's Best Under a Billion awards in 2015. Two projects of the company were eligible for the United Nations' Clean Development Mechanism.
The Swadeshi Industrial Works PLC is a personal care products manufacturing company in Sri Lanka. The company became the first local soap manufacturing company when the company was incorporated in 1941. Swadeshi is a listed company on the Colombo Stock Exchange. Brand Finance calculated Swadeshi Industrial Works' brand value to be LKR543 million in 2022 and ranks the company as 85th most valuable brand in Sri Lanka.
Ceylon Grain Elevators PLC is an animal feed manufacturing company in Sri Lanka. The company was incorporated in 1982 as a result of an agreement between the Government of Sri Lanka and Prima Limited of Singapore. The company was listed on the Colombo Stock Exchange in 1984. Singapore-based, Prima Limited holds a controlling stake in the company's stocks. Ceylon Grain Elevators is part of the Prima Group in Sri Lanka. The company is ranked 50th in LMD 100, an annual list of listed companies in Sri Lanka by revenue.
ACL Cables PLC is a cable manufacturing company in Sri Lanka. It manufactures and sells power cables, conductors, armoured cables and telephone cables. The company was established in 1962 as Associated Cables, a subsidiary of Associated Motorways. It was publicly quoted in 1976. In 1980, the company moved out of the Associated Motorways Group and was renamed ACL Cables in 1990. ACL Cables is one of the LMD 100 companies in Sri Lanka.
Renuka Holdings PLC, also called Renuka Group, is a conglomerate company in Sri Lanka. Ceylonese businessman Alfred Thambiyah laid the foundations of the Renuka Group by acquiring the Crago Boat Dispatch Company in 1936 and establishing Renuka Hotel, named after his youngest daughter Indu Renuka in 1969. Indu Renuka Rajiyah founded Renuka Enterprises in 1975, and Renuka Holdings in 1979 marked the formal beginning of the group. Renuka Holdings went public in 2008 and following the listing on the Colombo Stock Exchange, the company pursued a growth strategy. Renuka Holdings is one of the LMD 100 companies in Sri Lanka and also one of the 20 largest conglomerates in Sri Lanka.
Swisstek (Ceylon) PLC is a tile grout and tile mortar manufacturing company in Sri Lanka. The company was established in 1967 as Parquet (Ceylon) Ltd to manufacture parquetry. Parquet (Ceylon) signed an agreement with Switzerland-based Bauwerk AG for technology collaboration and started supplying for the domestic and foreign markets under the brand name "Swissparkett". The company was listed on the Colombo Stock Exchange in 1983. Parquet (Ceylon) switched its core business by switching to manufacturing tile grout and mortar in 2009. In 2011, the company was renamed Swisstek (Ceylon) and in 2013, became a part of the Vallibel One Group. Swisstek is one of the LMD 100 companies in Sri Lanka.
Keells Food Products PLC is a processed meat company in Sri Lanka. The company was incorporated in 1982 and was listed on the Colombo Stock Exchange in the following year. The company's Keells Krest brand has been the market leader in the processed meat market segment for thirty years. Keells Food Products' brand value is among the 100 most valuable brands in Sri Lanka. Hotels and airlines have remained long-term clients of Keells Food Products.
Alumex PLC is an aluminium extrusions manufacturing company in Sri Lanka. The company was incorporated as a South Korean-Sri Lankan joint venture in 1986. The company commenced commercial operations two years later. The Sri Lankan partners acquired the South Korean partner's stake partners in 2006. Sri Lankan conglomerate Hayleys acquired Alumex in 2010 and was listed on the Colombo Stock Exchange after an initial public offering in 2014. Alumex is the leading aluminium manufacturer in Sri Lanka, with a market share of 46%. Alumex is one of the LMD 100 companies in Sri Lanka.
Vallibel Finance PLC is a non-banking financial company in Sri Lanka. Vallibel Finance was incorporated in 1974 as The Rupee Finance Company. Dhammika Perera acquired the company in 2005 and was renamed Vallibel Finance. After an initial public offering, the company was listed on the Colombo Stock Exchange in 2010. Vallibel Finance joined the LankaPay electronic fund transfer network in 2014. In 2020, the company signed an agreement with the Board of Investment of Sri Lanka to build a 16-storey office complex in Kollupitiya. Vallibel Finance is one of the LMD 100 companies in Sri Lanka. Vallibel Finance is also ranked amongst the 100 most valuable brands in Sri Lanka in 2022.
Sierra Cables PLC is a cable manufacturing company in Sri Lanka. Sierra Cables was incorporated in 1999 as a part of Sierra Construction. The company became a public company with an LKR600 million initial public offering in 2005. Sierra Cables moved to build a manufacturing plant in Kenya in 2015. The following year, the company planned to establish its second foreign operations in Fiji. In 2018, the company was transferred to the Watch List by the Colombo Stock Exchange due to going concerns over two of its subsidiaries including, its East African operations.
Dankotuwa Porcelain PLC is a porcelain tableware manufacturing company based in Dankotuwa, Sri Lanka. Dankotuwa Porcelain was incorporated in 1984 as a subsidiary of Ceylon Ceramics Corporation. Dankotuwa Porcelain was one of the four public enterprises that were privatised in December 1990. The company was converted to a public company in 1994 and listed on the Colombo Stock Exchange later in the same year. Environmental Resources Investment acquired the company in 2010 for a consideration of LKR433 million. Dankotuwa Porcelain acquired Royal Fernwood Porcelain from Browns Group in December 2013 for LKR305 million.