Teejay Lanka

Last updated
Teejay Lanka PLC
Type Public
ISIN LK0394N00003
Industry Apparel
Founded2000;22 years ago (2000)
Headquarters
Avissawella
,
Sri Lanka
Key people
  • Ajit Gunewardene (Chairman)
  • Pubudu de Silva (CEO)
RevenueIncrease2.svg LKR49,587 million (2022)
Increase2.svg LKR2,573 million (2022)
Increase2.svg LKR2,531 million (2022)
Total assets Increase2.svg LKR59,893 million (2022)
Total equity Increase2.svg LKR28,225 million (2022)
Owners
Number of employees
Increase2.svg 2,819 (2022)
Subsidiaries
  • Teejay Lanka Prints
  • Ocean Mauritius Limited
  • Teejay India
Website www.teejay.com
Footnotes /references
[1]

Teejay Lanka PLC formerly known as Textured Jersey Lanka is a knitted fabric manufacturer in Sri Lanka [2] and is one of the constituents of the S&P Sri Lanka 20 Index of the Colombo Stock Exchange. The company received the award of the best textile exporter in Sri Lanka at the Presidential Export Awards in 2019 and ranked amongst the 100 most respected companies in the country by the LMD magazine. [3] The company is a supplier to the brands such as Nike, PVH, L Brands, Marks & Spencer, Decathlon, Lidl, and Calzedonia. [4]

Contents

History

In 2000, Textured Jersey Lanka was founded as a joint venture between Linea Clothing and Textured Jersey UK. In 2004, Pacific Textile Holdings acquired Textured Jersey UK's stake in the company. [5] In 2007, shareholding changed with Brandix joining Pacific Textiles, [6] and in 2011 the company was listed publicly. In 2016, the company was rebranded as Teejay Lanka. [7] In 2021, Teejay Lanka won the award for the best textile exporter at the Presidential Export Awards for the third consecutive year. [8] Sri Lankan business executive, Ajit Gunawardene was appointed as the chairman of the company in 2022. [9]

Operations

The company carries out manufacturing operations in Sri Lanka as well as in India. Despite the lockdowns due to the COVID-19 pandemic in Sri Lanka and India, Teejay Lanka was able to post a net profit of LKR 2.4 billion in the fiscal year of 2019/20 which is an improvement of 28 percent over the last year. [3] During the pandemic Tejay Lanka moved to manufacture personal protective equipment or PPE as a strategic decision. [10]

On August 10, 2020, the Colombo Magistrate Court issued a notice on the company to appear before the court in connection to an alleged attempt to dump hazardous waste into the ocean through a contract. [11]

See also

Related Research Articles

Hayleys Sri Lankan conglomerate

Hayleys PLC was founded in 1878 and has since become one of Sri Lanka's largest multinational and diversified conglomerate. Hayleys single-handedly accounts for approximately 4.2% of Sri Lanka's export income, and 3.9% of the country's tea and 4.5% of its rubber production. With over 30,000 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 130 business units and subsidiaries, nine of which are publicly listed in the Colombo Stock Exchange. In addition to Sri Lanka, Hayleys today has manufacturing facilities in Indonesia and Thailand and marketing operations in Australia, India, Bangladesh, Italy, Japan, Netherlands, UK and USA and its products are sold in 80 countries.

Dilith Jayaweera Sri Lankan entrepreneur and lawyer

Dilith Susantha Jayaweera is a Sri Lankan Businessman, Entrepreneur, Media mogul, and Lawyer. In 2011, he was named by the LMD as one of the ten ‘Business People of the Year’. In 2020, Dilith Jayaweera was among 100 corporate leaders named by the LMD on its A-list of businesspeople who continue to drive the engine of growth in Sri Lanka. He is the Chairman of George Steuart & Co., Sri Lanka's oldest mercantile establishment and Derana, one of Sri Lanka's largest media networks.

Ceylinco Insurance 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.

Vallibel One

Vallibel One PLC is one of Sri Lanka's largest conglomerate companies. The company controls a massive subsidiaries chain and listed on the Colombo Stock Exchange since 2011. It has a market capitalisation of approximately Rs. 26.95 billion. The company wholly owns LB Finance, Royal Ceramics Lanka, and Delmege Group. The company was included in S&P SL 20 index in 2018.

C T Holdings PLC, formerly known as Ceylon Theatres Limited, is one of the largest conglomerate companies in Sri Lanka. The company is 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.

Cinnamon Hotels & Resorts

Cinnamon Hotels & Resorts is a major Sri Lankan luxury hotel chain brand. Cinnamon Hotels was recognised as the most valuable hospitality brand in Sri Lanka for 2019 with a brand equity of seven billion Sri Lankan Rupees. Philip Kotler, the renowned marketing author included a 10-page reference of the brand in his 2010 co-authored book, Asian Competitors: Marketing For Competitiveness In The Age Of Digital Consumers on the effective use of social media and various digital initiatives.

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.

Singer (Sri Lanka)

Singer PLC is a Sri Lankan holding company engaged in retailing and wholesale marketing home appliances and furniture. The company is also taking part in financial services and manufacturing businesses. The company is listed on the Colombo Stock Exchange since 1981 and in 2017, the Sri Lankan conglomerate, Hayleys acquired the majority of the shares. Singer is ranked 17th in the LMD 100, an annual list of listed companies in Sri Lanka by revenue, in 2020/21 edition. Brand Finance ranked the company 15th most valuable brand in Sri Lanka in its annual list of top 100 brands.

Tokyo Cement

Tokyo Cement Company (Lanka) PLC is a Sri Lankan cement manufacturing company headquartered in Colombo. The company is engaged in manufacturing Portland cement, Pozzolana cement, tile adhesives and other cement products. Sri Lankan entrepreneur, A. Y. S. Gnanam founded the company in 1982. Tokyo Cement Company is a quoted company on the Colombo Stock Exchange since 1984. The company was one of the components of the S&P Sri Lanka 20 Index until June 2022. The company is ranked 34 amongst Lanka Monthly Digests top 100 companies in Sri Lanka for the 2019/20 period.

Central Finance 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.

Overseas Realty

Overseas Realty (Ceylon) PLC is the largest listed real estate company in Sri Lanka. The company is the developer and the proprietor of World Trade Center Colombo and Havelock City. The company was incorporated in 1980 and was listed on the Colombo Stock Exchange in 1982. The company is ranked amongst the LMD 100, moving 17 positions up to number 76 for the fiscal year 2019/20.

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 was 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

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.

Peoples Leasing & Finance

People's Leasing & Finance PLC, sometimes called People's Leasing Company or commonly abbreviated PLC, is a licensed non-banking financial company in Sri Lanka. The company is ranked 30th in LMD 100, an annual list of leading listed companies in Sri Lanka. Brand Finance placed the company 21st amongst the 100 most valuable brands in Sri Lanka. The company was incorporated in 1995 and in 2010 listed on the Colombo Stock Exchange. 75% of the shares of the company is held by the People's Bank, one of the two government-held banks of Sri Lanka.

Lankem Ceylon

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 Rubber glove manufacturer in Sri Lanka

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 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.

Haycarb Activated carbon manufacturing company in Sri Lanka

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.

Janashakthi Insurance 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.

Swadeshi Industrial Works Personal care products manufacturing company in Sri Lanka

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.

References

  1. ↑ "Annual Report 2021/22" (PDF). cse.lk. Teejay Lanka PLC. Retrieved 13 August 2022.
  2. ↑ "Teejay Lanka PLC". ft.com. Financial Times . Retrieved 13 March 2021.
  3. 1 2 "Teejay ends 2019-20 with net profit up 28-pct". lankabusinessonline.com. Retrieved 13 March 2021.
  4. ↑ "Annual Report 2019/2020" (PDF). Teejay Lanka. Retrieved 13 March 2021.
  5. ↑ Daniel, Devan (21 April 2017). "Teejay Lanka is busting myths about investing in India". echolon.lk. Echelon Media (Pvt) Ltd. Retrieved 13 August 2022.
  6. ↑ "Brandix, MAS announce change in ownership of connected joint ventures". The Sunday Times . Wijeya Newspapers. 16 September 2007. Retrieved 13 August 2022.
  7. ↑ "Knit fabric maker changes name to Teejay Lanka PLC". dailymirror.lk. Wijeya Newspapers. 22 September 2016. Retrieved 13 August 2022.
  8. ↑ "Twin wins for Teejay Lanka at Presidential Export Awards". The Island . Upali Newspapers. 5 December 2021. Retrieved 13 August 2022.
  9. ↑ "Business leader Ajit Gunewardene to be appointed Teejay Lanka Chairman". Daily FT. Wijeya Newspapers. 2 February 2022. Retrieved 13 August 2022.
  10. ↑ "Sri Lanka's Teejay expects supply chain shake-up, lower cotton prices to help". economynext.com. Echelon Media. Retrieved 13 March 2021.
  11. ↑ Fernando, Nishel (12 August 2020). "Notice re-issued on Teejay Lanka over alleged sludge waste dumping". dailymirror.lk. Daily Mirror . Retrieved 13 March 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.