List of companies of Sri Lanka

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Location of Sri Lanka Sri Lanka (orthographic projection).svg
Location of Sri Lanka

Sri Lanka is an island country located southeast of the Republic of India and northeast of the Maldives. According to the International Monetary Fund, Sri Lanka's GDP in terms of purchasing power parity is second only to the Maldives in the South Asian region in terms of per capita income.

Contents

As of 2010, the service sector makes up 60% of GDP, the industrial sector 28%, and the agriculture sector 12%. [1] The private sector accounts for 85% of the economy. [2] India is Sri Lanka's largest trading partner. [3] Economic disparities exist between the provinces, with the Western province contributing 45.1% of the GDP and the Southern province and the Central province contributing 10.7% and 10%, respectively. [4]

Largest firms

LMD 100 , dubbed as "Sri Lanka's Fortune 500 ", annually lists the leading 100 quoted companies in Sri Lanka. Only the top 20 companies are listed below. All revenue figures reported before the financial year ending 2023. [5]

2022/23
Rank
2021/22
Rank
CompanyRevenue 2022/23
Rs (mns)
Revenue 2021/22
Rs (mns)
11 Expolanka Holdings 546,401694,157
22 Hayleys 487,431338,010
33 LOLC Holdings 333,122224,100
45 Carson Cumberbatch 330,459170,695
56 Bukit Darah 330,421170,656
616 Lanka IOC 281,48889,951
77 Commercial Bank of Ceylon 280,387163,675
84 John Keells Holdings 276,640218,075
911 Hatton National Bank 270,509135,710
1012 Sampath Bank 206,002113,075
119 C T Holdings 196,266136,873
1210 Cargills (Ceylon) 195,618136,692
138 Dialog Axiata 178,131141,915
1413 Melstacorp 178,082106,071
1517 Ceylon Cold Stores 126,14984,543
1615 Vallibel One 116,85596,859
1718 Hemas Holdings 113,94078,831
1817 National Development Bank 111,55264,083
1914 Sri Lanka Telecom 107,710102,348
2029 Aitken Spence 96,98954,152

Notable firms

This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organisations which have ceased operations are included and noted as defunct.

Notable companies
     Active     State-owned     Defunct
NameIndustrySectorHeadquartersFoundedNotes
Aitken Spence Conglomerates- Colombo 1868Hotels, logistics, energy
Associated Newspapers of Ceylon Limited Consumer servicesPublishing Colombo 1926Publishing
Bank of Ceylon FinancialsBanks Colombo 1939State commercial bank
Barefoot Consumer goodsClothing & accessories Colombo 1958Clothing & accessories, furnishings
Airtel Sri Lanka TelecommunicationsMobile telecommunications Colombo 2009Mobile network, part of Bharti Airtel (India)
CameraLK Electronic itemsElectronics Colombo 2010camera, electronic devices
Cargills Conglomerates- Colombo 1844Consumer goods, retail, financials
Ceylinco Consolidated Conglomerates- Colombo 1938Financials, technology, health care, travel & leisure
Ceylon Biscuits Limited Consumer goodsFood products Colombo 1939Food manufacturer and confectionary
Ceylon Cold Stores Consumer goodsFood products Colombo 1866Food products
Ceylon Electricity Board UtilitiesConventional electricity Colombo 1969State electrical distribution and generation
Ceylon Petroleum Corporation Oil & gasExploration & production Colombo 1962Petrochemical refining and sales
Ceylon Tobacco Company Consumer goodsTobacco Colombo 1932Tobacco products
Cinnamon Air Consumer servicesAirlines Colombo 2012Domestic airline
Colombo Dockyard IndustrialsCommercial vehicles & trucks Colombo 1974Ship building
Commercial Bank of Ceylon FinancialsBanks Colombo 1920Commercial bank
Country Style Foods Consumer goodsFood products Colombo 1981Beverage and dairy
Daintee Consumer goodsFood products Colombo 1984Confectionery, food products
Damro Consumer goodsFurniture, Homeware Manufacturer Colombo 1986Furniture, Plantations, Electronic appliances
DFCC Bank FinancialsBanks Colombo 1955Development bank
Dialog Axiata TelecommunicationsMobile telecommunications Colombo 1993Mobile networks, broadband, part of Axiata Group (Malaysia)
Dialog Broadband Networks TelecommunicationsFixed line telecommunications Colombo 2005Broadband
Dialog TV Consumer servicesBroadcasting & entertainment Colombo 2005Broadcasting, part of Axiata Group (Malaysia)
Dilmah Consumer goodsSoft drinks Colombo 1988Tea, beverages
Distilleries Company of Sri Lanka Consumer goodsDistillers & vintners Colombo 1913Distilleries and other non-alcoholic goods
Durdans Hospital Health careHealth care providers Colombo 1945Hospital
Etisalat TelecommunicationsMobile telecommunications Colombo 1989Mobile network, part of Etisalat (UAE)
Expolanka Holdings Conglomerates- Colombo 1978Logistics, travel & leisure, manufacturing
ExpoRail Consumer servicesTravel & tourism Colombo 2011Commuter railroads, part of Expolanka Holdings
FitsAir Consumer servicesAirlines Colombo 1997Scheduled airline
Gateway Group Consumer servicesSpecialised consumer services Colombo 1986Education
George Steuart Group Conglomerates- Colombo 1835Food & beverages, health care, travel & leisure
Hatton National Bank FinancialsBanks Colombo 1888Private bank
Hayleys Conglomerates- Colombo 1878Industrials, consumer goods, travel & leisure
Hemas Holdings Conglomerates- Colombo 1948Health care, transportation, consumer goods
Hemas Hospitals Health careHealth care providers Colombo 2008Hospital chain
Hutch TelecommunicationsMobile telecommunications Colombo 1991Mobile network, part of Hutchison Asia Telecom Group (Hong Kong)
Independent Television Network Consumer servicesBroadcasting & entertainment Colombo 1979Broadcasting
Island Tea Consumer goodsSoft drinks Philippines 2017Tea, beverages
JAT Holdings Conglomerate- Colombo 1993 [6] Paints and related products, Furnishing, Real estate, Exports
Jetwing Hotels Consumer servicesHotels Colombo 1973 [7] Hotel chain
John Keells IT TechnologySoftware Colombo 1998IT services, part of John Keells Holdings
John Keells Holdings Conglomerates- Colombo 1870Transportation, logistics, retail, financials
Lanka Bell TelecommunicationsMobile telecommunications Colombo 1997Mobile network, part of Melstacorp
Lanka Hospitals Health careHealth care providers Colombo 2002Hospital
LAUGFS Holdings Conglomerates- Colombo [8] 1995Oil & gas, real estate, industrials
Leader Publications Consumer servicesPublishing Colombo 1994Publishing
Maliban Biscuit Manufactories Limited Consumer goodsFood products Colombo 1954Food products
MAS Holdings Conglomerates- Colombo 1986 [9] Fabrics, clothing, financial services
MBC Networks Consumer servicesBroadcasting & entertainment Colombo 1993Broadcasting, part of Capital Maharaja
Melstacorp Conglomerates- Colombo 1998 [10] Food & beverage, logistics, energy, technology
Micro Cars Consumer goodsAutomobiles Colombo 1995Motor vehicle manufacturer
Mihin Lanka Consumer servicesAirlines Colombo 2006Airline, defunct 2016
MillenniumIT ESP TechnologySoftware Colombo 1996IT
Mobitel TelecommunicationsMobile telecommunications Colombo 1993Mobile network, part of Sri Lanka Telecom
MTV Channel Consumer servicesBroadcasting & entertainment Colombo 1992Broadcasting, part of Capital Maharaja
National Savings Bank FinancialsBanks Colombo 1971State savings bank
Nations Trust Bank FinancialsBanks Colombo 1999Bank
Nawaloka Hospital Health careHealth care providers Colombo 1985Hospital
Neville Fernando Teaching Hospital Health careHealth care providers Colombo 2013Hospital
Pan Asia Bank FinancialsBanks Colombo 1995Bank
Pelwatte Sugar Industries Consumer goodsFood products Buttala 1981Sugar
People's Bank FinancialsBanks Colombo 1961Commercial bank
Rainco Consumer goodsPersonal products Dehiwala-Mount Lavinia 1977Personal goods
Richard Pieris & Company Conglomerates- Colombo 1940Manufacturing, Engineering, Retail and Plantation
Sampath Bank FinancialsBanks Colombo 1986Commercial bank
Sarasavi Bookshop Consumer servicesSpecialty retailers Colombo 1973Book store chain
Seylan Bank FinancialsBanks Colombo 1987Commercial bank
Simplifly Consumer servicesAirlines Colombo 2004Charter airline
Softlogic Holdings Conglomerates- Colombo 1991I/T, health care, retail, financials
Sri Lanka Broadcasting Corporation Consumer servicesBroadcasting & entertainment Colombo 1925Broadcasting
Sri Lanka Insurance FinancialsFull line insurance Colombo 1961Insurance
Sri Lanka Ports Authority IndustrialsMarine transportation Colombo 1979Marine shipping
Sri Lanka Railways IndustrialsRailroads Colombo 1858Railroads
Sri Lanka Rupavahini Corporation Consumer servicesBroadcasting & entertainment Colombo 1982Broadcasting
Sri Lanka Telecom TelecommunicationsFixed line telecommunications Colombo 1991Telecom, ISP
Sri Lanka Transport Board IndustrialsDelivery services Colombo 1958Transportation services
SriLankan Airlines Consumer servicesAirlines Colombo 1979Flag airline
SupremeSAT IndustrialsAerospace Colombo 2011Satellite operator
Upali Newspapers Consumer servicesPublishing Colombo 1981Publishing
Vesess TechnologySoftware Colombo 2004IT
MTD Walkers PLC ConglomeratesEngineeringColombo1854General Engineering
Wijeya Newspapers Consumer servicesPublishing Colombo 1979Publishing
WSO2 TechnologySoftware Colombo 2004IT

See also

Related Research Articles

<span class="mw-page-title-main">Economy of Sri Lanka</span>

The mixed economy of Sri Lanka was worth $84 billion by nominal gross domestic product (GDP) in 2019 and $296.959 billion by purchasing power parity (PPP). The country had experienced an annual growth of 6.4 percent from 2003 to 2012, well above its regional peers. This growth was driven by the growth of non-tradable sectors, which the World Bank warned to be both unsustainable and unequitable. Growth has slowed since then. In 2019 with an income per capita of 13,620 PPP Dollars or 3,852 (2019) nominal US dollars, Sri Lanka was re-classified as a lower middle income nation with the population around 22 million (2021) by the World Bank from a previous upper middle income status.

<span class="mw-page-title-main">Agriculture in Sri Lanka</span>

The primary form of agriculture in Sri Lanka is rice production. Rice is cultivated during Maha and Yala seasons. Tea is cultivated in the central highlands and is a major source of foreign exchange. Vegetables, fruits and oilseed crops are also cultivated in the country. There are two Agriculture Parks abbreviated as A. Parks established by the Department of Agriculture. Out of the total population in Sri Lanka, 27.1% engages in agricultural activities. Agriculture accounted for 7.4% of the GDP in 2020.

Aitken Spence PLC is a Sri Lankan blue chip conglomerate with operations in South Asia, Middle East, Africa and Pacific. Listed on the Colombo Stock Exchange since 1983, it has major interests in hotels, travel, maritime services and logistics. The group also has a significant presence in printing, plantation, power generation, financial services, IT, Business Process Outsourcing/Knowledge Process Outsourcing sector, elevator agency services, garments, and property development.

<span class="mw-page-title-main">Hayleys</span> Sri Lankan conglomerate

Hayleys PLC, founded in 1878 by Charles Pickering Hayley, is a multinational and diversified conglomerate company in Sri Lanka, publicly listed on the Colombo Stock Exchange with business spanning over 16 sectors, catering to 80 markets worldwide. Hayleys accounts for approximately 5% of Sri Lanka's export income, and 4.6% of the country's tea and 4.1% of its rubber production. With over 35,000 employees, Hayley was also the first listed entity in the country to surpass annual revenue of US$1 billion in Fiscal Year 2017/18. The company operates over 16 business sectors: eco-solutions, hand protection, purification, agriculture, consumer and retail, leisure, textile manufacturing, construction materials, plantations, industrial solutions, power and energy, transportation and logistics, BPO, tea exports, projects and engineering, and investments and services. Hayleys comprises over 180 business units and subsidiaries, twelve of which are publicly listed on the Colombo Stock Exchange. Hayleys PLC is a public listed company with over 15,147 shareholders as of March 31, 2024. In addition to Sri Lanka, Hayleys today has manufacturing facilities in Indonesia,Thailand and India, with marketing operations in Australia, India, Bangladesh, Italy, Japan, Netherlands, UK, USA, France, Poland and Kenya, and its products are sold in 80 countries.

<span class="mw-page-title-main">JAT Holdings</span> Sri Lankan paints manufacturer

JAT Holdings PLC is a Sri Lanka based multinational paint company headquartered in Thalawathugoda, Sri Lanka. The company is engaged in the business of manufacturing, selling and distribution of paints, wood coatings and products related to the retail and industrial sectors. As of 2016, it has the largest market share with 75% in the Sri Lankan paint industry.

<span class="mw-page-title-main">Ceylinco Insurance</span> Sri Lankan conglomerate holding company

Ceylinco Insurance PLC is the largest private sector insurance company in Sri Lanka. The company is also engaged in the education and renewable energy sectors. The company offers both life insurance and all classes of general insurance. The company was incorporated in 1987 when the government ended its state monopoly over the insurance sector and the company was listed on the Colombo Stock Exchange the following year. Ceylinco Insurance is an LMD 100 company, an annual list of public companies in Sri Lanka by revenue and ranked 23rd in the 2020/21 edition.

<span class="mw-page-title-main">C T Holdings</span> Sri Lankan conglomerate holding company

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).

Cinnamon Hotels & Resorts is a Sri Lankan luxury hotel chain brand.

<span class="mw-page-title-main">Central Finance Company</span> Sri Lankan non-banking financial company

Central Finance Company PLC is one of the oldest non-bank financial institutions (NBFIs) in Sri Lanka having founded in 1957. The company is listed on the Colombo Stock Exchange in 1969. Brand Finance ranked the company the 28th most valuable brand in Sri Lanka for the year 2021. Central Finance Company was ranked 44th in the LMD 100 for the fiscal year 2019/20 by LMD.

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.

<span class="mw-page-title-main">Sunshine Holdings</span> Sri Lankan conglomerate holding company

Sunshine Holdings PLC is a Sri Lankan conglomerate holding company that is engaged in the healthcare, consumer goods and agribusiness sectors. Sunshine Holdings was incorporated on 16 June 1973, and listed on the Colombo Stock Exchange in 1983. Sunshine Holdings ranked 45th in LMD 100, a list of quoted companies in Sri Lanka by revenue in the 2020/21 edition.

<span class="mw-page-title-main">Diesel & Motor Engineering</span> Sri Lankan conglomerate company

Diesel & Motor Engineering PLC, commonly abbreviated as DIMO, is a Sri Lankan conglomerate company. The company engaged in vehicle sales, after-sales services, retail, construction and logistics solutions and agriculture sectors. The company was founded in 1939 and was listed on the Colombo Stock Exchange in 1964. DIMO is one of the LMD 100 companies, a list of quoted companies in Sri Lanka by revenue and ranked 39th in the 2020/21 edition.

<span class="mw-page-title-main">Brown and Company</span> Sri Lankan conglomerate holding company

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.

<span class="mw-page-title-main">Janashakthi Insurance</span> Insurance company in Sri Lanka

Janashakthi Insurance PLC is an insurance company in Sri Lanka. The company was incorporated in 1992 and its operations were commenced in 1994. Janashakthi Insurance became the first company to specialise in life insurance in Sri Lanka. Janashakthi Insurance became a public company when the company was listed on the Colombo Stock Exchange in 2008. The company was a constituent of the S&P Sri Lanka 20 Index in 2016. Janashakthi Insurance is ranked 85th in LMD 100, an annual list of listed companies by revenue in Sri Lanka. Janashakthi Insurance is known for its long-term patronage of sports, especially cricket.

<span class="mw-page-title-main">Asiri Hospital Holdings</span> Healthcare company in Sri Lanka

Asiri Hospital Holdings PLC, doing business as Asiri Health, is the largest private healthcare provider in Sri Lanka. The company commenced operations in 1986 and was listed on the Colombo Stock Exchange in the same year. Asiri Hospitals operate six hospitals and collectively has over an 800-bed capacity. Softlogic Holdings is the parent company of Asiri Hospitals group. Asiri Hospital Holdings ranked 57th in the LMD 100, an annual list of listed companies by revenue, in the 2020/21 edition.

<span class="mw-page-title-main">ACL Cables</span> Cable manufacturing company in Sri Lanka

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.

<span class="mw-page-title-main">Renuka Holdings</span> Conglomerate company 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.

<span class="mw-page-title-main">Bairaha Farms</span> Sri Lankan poultry processing company

Bairaha Farms PLC is a poultry processing company in Sri Lanka. The company was founded in 1975 and went public with an initial public offering in 1994. By 1987, Bairaha Farms became the largest broiler producer in Sri Lanka. During the late 1990s, Bairaha was one of the three dominant animal feed manufacturers. A Bairaha Farms' joint venture won a bronze award at the National Chamber of Exporters Awards in 2011. Bairaha Farms is one of the LMD 100 companies in Sri Lanka and one of the 100 most valuable brands in the country in 2022. The company conducts several corporate social responsibility programmes.

<span class="mw-page-title-main">Ambeon Holdings</span> Sri Lankan conglomerate company

Ambeon Holdings PLC is a conglomerate holding company based in Sri Lanka. John Walker who established Walker Sons and Company is the founder of the company. In 1874, Walker founded Walker and Greig to supply agricultural machinery to plantations in the hill country. The company was incorporated in 1910 and in 1959, it was brought under Brown and Company. In 1970, the company was listed on the Colombo Stock Exchange.

Aitken Spence Hotel Holdings PLC is a hotel chain holding company based in Sri Lanka. The Sri Lankan conglomerate Aitken Spence is the parent company of Aitken Spence Hotel Holdings. The company operates hotels in Sri Lanka, Maldives, Oman and India. Aitken Spence ventured into the hospitality business by building two seaside resorts designed by Geoffrey Bawa. The company was founded in 1978 as Ahungalla Hotels Ltd and is the proprietor of the Hotel Triton. Ahungalla Hotels Ltd was listed on the Colombo Stock Exchange in 1980. In 1994, after acquiring Aitken Spence Hotels Ltd, the company gained control of the properties of the hotel chain. Kandalama Hotel and the Tea Factory Hotel commenced operations in 1994 and 1996 respectively. The company opened its first resort in the Maldives in 1993.

References

  1. "Annual Report 2010" (PDF). Ministry of Finance – Sri Lanka. 2011. Archived from the original (PDF) on 1 December 2011. Retrieved 15 July 2014.
  2. "Country Partnership Strategy" (PDF). Asian Development Bank. 2008. p. 1. Archived from the original (PDF) on 15 November 2013. Retrieved 15 July 2014.
  3. "65th Independence Day of India celebrates in Sri Lanka". InfoLanaka. 2011. Retrieved 15 July 2014.
  4. "Western Province share of national GDP falling: CB". Sunday Times. 17 July 2011.
  5. "LMD 100 (2022/23)". LMD 100 . 2023. Retrieved 24 May 2024.
  6. "JAT Holdings celebrates 25 years of transforming spaces | Sunday times". Sundaytimesr.lk. 2018-12-09. Retrieved 2018-12-09.
  7. "Jetwing enriches cultural triangle with new 5 star hotel | Sunday Observer". Sundayobserver.lk. 2017-07-02. Retrieved 2018-02-24.
  8. "LAUGFS Holdings Limited: Private Company Information". Bloomberg. 2018-01-30. Retrieved 2018-02-24.
  9. "MAS Holdings Limited: Private Company Information". Bloomberg. 2017-12-11. Retrieved 2018-02-24.
  10. "Melstacorp PLC: Private Company Information". Bloomberg. Retrieved 2018-02-24.