Swadeshi Industrial Works

Last updated
The Swadeshi Industrial Works PLC
Type Public
CSE:  SWAD.N0000
ISIN LK0161N00006
Industry Personal care
Founded1941;81 years ago (1941)
Headquarters
Kandana
,
Sri Lanka
Key people
  • Amari Wijewardene (Chairperson)
  • C. S. M. Samarasinghe (Managing Director/Deputy Chairperson)
RevenueIncrease2.svg LKR3,062 million (2021)
Increase2.svg LKR157 million (2021)
Increase2.svg LKR129 million (2021)
Total assets Increase2.svg LKR2,456 million (2021)
Total equity Increase2.svg LKR1,457 million (2021)
Owner
  • C. S. M. Samarasinghe (33.74%)
  • Seylan Bank/Senthilverl Holdings (24.91%)
  • Sedawatte Exports (19.72%)
Subsidiaries The Swadeshi Chemicals
Website swadeshiherbal.com
Footnotes /references
[1]

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. [2]

Contents

History

The Swadeshi Industrial Works PLC was established in 1941 and was the first local soap manufacturing company in the country. [3] Swadeshi is one of the native industrial companies developed during the wartime economic background. [4] By 1958, Swadeshi was one of the four soap manufacturers in Sri Lanka. Others were Lever Brothers, Brtish Ceylon Corporation, and Eastern Chemical Industries. Although inedible tallow was used in manufacturing soap, coconut oil was the main raw material used. [5] In 1960, the company sought to partner up with American soap and toiletries manufacturers to expand its business. At the time, the company was manufacturing safety matches, plastic moulding, photoengraving and printing besides manufacturing soap and toiletries. [6]

Swadeshi obtained a restraining order against Vendol Lanka preventing Vendol Lanka from marketing its Apsara soap. In 1999, Swadeshi launched a new soap product called Apsara after registering the trade mark with the National Intellectual Property Office. Vendol Lanka followed up by launching its own product called Apsara, with identical packaging in the same colour. [7] After a decade-long legal battle, Swadeshi won its case against Vendol in 2012. [8] Swadeshi obtained an enjoining order against Lanka Sathosa and ReeBonn Lanka regarding Sathosa Khomba soap in December 2021. Swadeshi instituted a legal dispute over a trademark violation and unfair competition law. [9]

Operations

Swadeshi Industrial Works ranked 29th in LMD 100's second board for the financial year 2020/21. LMD 100 ranks listed companies in Sri Lanka by revenue annually. [10] Amari Wijewardene is the company's chairperson and a member of the Wijewardene family. Wijewardene's appointment as the Sri Lankan High Commissioner to the United Kingdom in 2016 by her cousin, then prime minister Ranil Wickremesinghe was criticised as nepotism. [11] Over the years, the company has sponsored the Buddhist ritual of Aloka Pooja (illumination offering) in various prominent temples across the country. This is carried out as a part of the company's corporate social responsibility programme. The programme has been conducted in many temples including Ridi Viharaya, [12] Kelaniya Raja Maha Vihara, [13] Kiri Vehera and Kataragama temple. [14]

Swadeshi signed an agreement with UNICEF to partner up with respect to UNICEF's betterparenting.lk website. [15] During the onset of the COVID-19 pandemic in Sri Lanka, Swadeshi donated Swadeshi Khomba soap and hand sanitisers to the armed forces, who were the frontline workers. [16] The company obtained the COVID-19 Safety Management System certification from the Sri Lanka Standards Institution. [17] The 80th anniversary of Rani Sandalwood soap was marked by the company by launching a new packaging. [18]

See also

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References

  1. ↑ "Annual Report 2020/21" (PDF). cse.lk. The Swadeshi Industrial Works PLC. Retrieved 4 August 2022.
  2. ↑ "Sri Lanka 100 2022" (PDF). brandirectory.com. Brand Finance. p. 16. Retrieved 4 August 2022.
  3. ↑ "Swadeshi awarded ISO 9001:2015 Certification". Daily News . Associated Newspapers of Ceylon Limited. 17 February 2018. Retrieved 4 August 2022.
  4. ↑ Samarawickreme, Navaratna Dissanayake (2005). Industrial accumulation in Sri Lanka : impact of policy shifts. New Delhi: Gyan Pub. House. p. 83. ISBN   978-8-12120-855-0 . Retrieved 4 August 2022.
  5. ↑ Danielson, Carrol V.; Schaffer, Jacob M. (1958). World Survey of Inedible Tallow and Grease. United States Department of Commerce. p. 47. Retrieved 4 August 2022.
  6. ↑ "Soapmaker in Ceylon Wants U. S. Licensor". Foreign Commerce Weekly. No. 63. United States Department of Commerce. 1960. Retrieved 4 August 2022.
  7. ↑ Goonewardena, Dinali (1 October 2000). "The Vendol-Swadeshi soap opera". The Sunday Times . Wijeya Newspapers . Retrieved 4 August 2022.
  8. ↑ "Swadeshi wins Apsara Venivel over Vendol after decade long battle". Daily FT . Wijeya Newspapers. 10 July 2012. Retrieved 5 August 2022.
  9. ↑ "Swadeshi Industrial Works obtains enjoining orders against Lanka Sathosa & ReeBonn Lanka". dailymirror.lk . Wijeya Newspapers. 22 December 2021. Retrieved 5 August 2022.
  10. ↑ "Financial Profile". LMD 100 . Media Services Pvt Ltd. Retrieved 4 August 2022.
  11. ↑ "Ranil Does A Mahinda: Appoints Cousin As Sri Lankan High Commissioner To UK". Colombo Telegraph . Retrieved 4 August 2022.
  12. ↑ "Swadeshi illuminates Rideegama Ridee Viharaya". Daily Mirror . Wijeya Newspapers. 20 September 2013. Retrieved 5 August 2022– via PressReader.
  13. ↑ "Swadeshi Khomba lights up Kelaniya Raja Maha Viharaya". Daily FT. Wijeya Newspapers. 2 February 2013. Retrieved 5 August 2022.
  14. ↑ "Swadeshi Khomba illuminates Kiri Vehera, Kataragama Devalaya for the 20th year". Daily News. Associated Newspapers of Ceylon Limited. 19 July 2021. Retrieved 5 August 2022.
  15. ↑ "Swadeshi Khomba Baby Joins Forces with UNICEF's BetterParenting.lk". unicef.org. UNICEF . Retrieved 5 August 2022.
  16. ↑ "Swadeshi Industries donates soap and sanitizers armed forces". defence.lk. Ministry of Defence. 16 April 2016. Retrieved 5 August 2022.
  17. ↑ "Swadeshi receives Covid-19 Safety Management System Certification". Daily News. Associated Newspapers of Ceylon Limited. 6 May 2021. Retrieved 4 August 2022.
  18. ↑ "Rani Sandalwood celebrates 80 years of beauty with a new look". Daily FT. Wijeya Newspapers. 14 December 2021. Retrieved 4 August 2022.
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