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Haycarb records turnover of USD 39 million and PBT of USD 2.9 million for 1H 2015/16
The Sri Lankan multinational Haycarb PLC reported a revenue growth of 6% to USD 39 billion and profit before tax of USD 2.9 million for six months ending 30th September 2015. The profit after tax stood at USD 2.5 million.
Haycarb PLC Managing Director, Mr. Rajitha Kariyawasan said, “Even though the raw material prices in Sri Lanka stabilized in the first half of the year, the current trend of increasing raw material prices in India, Sri Lanka and Indonesia, difficulty in sourcing adequate quantities of raw material at competitive prices and the intense competition in global markets due to the depressed gold industry and competition from low cost manufacturers from Philippines, India and Indonesia remain key challenges.” Haycarb has launched initiatives to strengthen raw material supply chain networks and build partnerships through providing technology and funding of environment friendly charcoaling technology in Sri Lanka and overseas.
He further noted that the lean initiatives implemented last year targeting increases in throughput and energy saving projects impacted the bottom line favourably in the 1H of 2015/16. The new product development and commercialization resulted in the addition of several new products and accounts to the sales portfolio that further helped to preserve overall margins. Mr. Kariyawasan stated that Haycarb Group will continue to focus on product and process improvements through its Lean Projects and R&D initiatives in 2015/16.
Puritas (Pvt.) Ltd, the environmental engineering arm of the Group is successfully expanding in to other countries in the region and Mr. Kariyawasan said that significant growth is expected from this segment of the business in the medium term.
Mr. Kariyawasan added that the Company remained confident of the medium to long term outlook of the industry and Haycarb’s role and positioning as a leading player in activated carbon solutions and purification systems. The competitiveness & reliability of its supply chain, focused marketing initiatives in key segments and geographies, continued efforts on value added carbons combined with rapid expansion of its environmental engineering arm is key to its longer term growth and sustainability.
Haycarb records turnover of USD 21.6 million and profit before tax of USD 1.6 million for Q1 2015/16
The Sri Lankan multinational Haycarb PLC reported revenue of USD 21.6 million, and profit before tax of USD 1.6 million for the first quarter of 2015/16. The profit after tax was USD 1.4 million.
Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that the downturn in the gold mining industry coupled with significant depreciation of currencies in key markets of Europe, Japan and Australia have posed a significant strain to protect margins. The low cost competition from smaller manufacturers in Philippines, Indonesia and India and continued difficulties in charcoal procurement especially in Sri Lanka has resulted in a very challenging period in the near term.
Against this back drop, Haycarb Group will focus on lean initiatives to achieve cost savings and pursue its strategy of increasing its market share in the value added carbon segment. At the same time significant thrust is made to increase our direct marketing presence in the USA, through our new structure at Haycarb USA. Mr. Kariyawasan further added that growth in its environmental engineering arm Puritas (Pvt.) Ltd. is expected to contribute more to the profitability of the Group.
Mr. Kariyawasan stated that the company remained positive of its outlook in the medium to long term, given its strength and position in the industry as a leading manufacturer of high quality carbon and provider of purification solutions whilst leveraging on the growth potential of the activated carbon industry against the backdrop of increasing emphasis on environmental sustainability world-wide.
Hayleys Group CKD – CSR Water Initiative “Puritas Sath Diyawara” wins prestigious Asia Responsible Entrepreneurship Award 2015
Puritas Private Limited, wholly owned Environmental Engineering arm of Haycarb PLC, brought home the prestigious Asia Responsible Entrepreneurship Awards 2015 under the category of SME Corporate Social Responsibility (CSR) - Drinking water based broad spectrum community development project. The Award honours Small and Medium Enterprises that have successful CSR policies that forms part of their core business and are appropriate to their size and business operations.
Puritas (Pvt) Ltd has been in the forefront of providing environmental engineering solutions with over 280 treatment plants in Sri Lanka and the Republic of Maldives, Thailand and Indonesia treating over 24 million litres of water and wastewater per day. With over 20 years of experience in the purification industry, Puritas (Pvt) Ltd, a fully owned subsidiary of Haycarb PLC, the world’s leading coconut shell based activated carbon manufacturer and is also a member of the Hayleys Group which is one of the largest multinational conglomerates in Sri Lanka.
CKD is the most common illness amongst the farmers of the North Central Province of Sri Lanka. While the underlying cause of CKD is yet to be determined 400,000 individuals are said to be affected with the disease and more than 22,000 lives lost. It is believed to be a water borne disease and has been proven that consumption of quality drinking water not only prevents the disease, but also reverses the early stages of the ailment. Puritas, being the specialist in water and wastewater treatment, designed “Puritas Sath Diyawara” to provide a self-sustaining, integrated solution for the communities in CKD affected areas. The project includes a Reverse Osmosis water purification system, cost effective distribution methodology, effective waste management system, knowledge dissemination centre, organic farming initiatives, good health and sanitation initiatives, and livelihood development activities. The project was implemented with the Sponsorship of different sectors of the Hayleys Group and is successfully operating in four villages of the North Central Province with two nearing completion and four more such projects are in progress and expected to be completed by December 2015.
Mr. Mohan Pandithage, Chairman – Hayleys Group said that “we are pleased and honoured to have been selected for this CSR award. “Puritas Sath Diyawara”, the CKD - CSR water project of the Hayelys Group is a result of prime collective initiative of the various sectors of group coming forward to provide hope in the form of water and related infrastructure for chosen villages, covering close to 15,000 people in ten villages”.
"There was a real need to step in and support the farming community in the North Central Province by providing them with good quality drinking water and a solution to the community’s needs. Starting with our first project at Maithreepura, Padaviya for a village of 1,500 people, we are touched by expanding the reach to cover ten villages by end of 2015. An investment of Rs. 3.5 million per project sponsored by leading sectors of the Hayleys Group, with many valuable and committed hours of our team’s own expertise in water purification, we feel honoured to be recognized and ranked amongst the top organisations in the region for CSR," Rajitha Kariyawasan, Managing Director of Haycarb PLC said.
Mr. Rajitha Kariyawasan, Managing Director of Haycarb PLC and Ms. Sharmila Ragunathan, Director of Puritas (Pvt) Ltd accepted the award at the prestigious International CSR Summit 2015 which was held at Banyan Ballroom, Banyan Tree, Macau SAR on the 19th of June 2015.
Enterprise Asia’s Asia Responsible Entrepreneurship Awards program (AREA) recognizes and honours Asian businesses for championing sustainable and responsible entrepreneurship. The programme highlights the participants’ leadership, sincerity and on-going commitment in incorporating responsible and ethical values, legal compliance, respect for people and individuals, involvement in communities and in protection of the environment into the way they run their businesses.
Haycarb records turnover of USD 90.8 Mn and profit before tax of USD 8.1 Mn for 2014/15
The Sri Lankan multinational Haycarb PLC reported revenue of USD 90.8 Mn, profit before tax of USD 8.1 Mn and profit after tax of USD 6.6 Mn for 2014/15. The earnings per share of equity holders of the company were USD 17 Cents for the year.
Haycarb is the pioneer manufacturer of coconut shell activated carbon in any coconut producing country with manufacturing facilities in Sri Lanka, Thailand and Indonesia supported by marketing offices in the USA, UK and Australia. The company contributes net foreign exchange revenues with its value adding processes whilst remaining a leading and technologically superior manufacturer in its chosen segment.
Haycarb PLC and Hayleys PLC Chairman Mr. Mohan Pandithage said that Haycarb has consolidated its position as a leading manufacturer of coconut shell based activated carbon and a provider of total solutions in related areas and has achieved a profit before tax of over Rs. 1 billion (USD 8 Mn) for the 3rd consecutive year.
Haycarb PLC Managing Director, Mr. Rajitha Kariyawasan said that the company operated in a challenging external environment during the year under review. He said, “The increase in price of the primary raw material, coconut shell based charcoal impacted the profitability of the Sri Lanka and overseas operations, as the prevailing market conditions prevented the company from passing the increase in raw material and other input costs to end customers adequately. The markets continued to be affected by the depressed gold mining industry and low-cost competition from countries such as Philippines, Indonesia and India. The depreciation of currencies in key markets in which we operate, notably in the second half of the year, contributed to the erosion of margins. ”
Mr. Kariyawasan added that in this background, several initiatives contributed to the recovery of profitability, especially in the last quarter of the year.
Haycarb Group crossed the significant milestone of 40,000 MT of installed manufacturing capacity per year with the commissioning of the new plant in Indonesia and a major thrust on lean initiatives targeting productivity improvements. The lean projects launched by technical and manufacturing teams to achieve cost savings, notably through energy saving initiatives helped the company to retain its competitiveness. The increase in market share of value added carbons, and the growth in its non-traditional markets and purification systems were positive factors that helped to achieve the overall results. During the year, the company focused on expanding its supply chain network for coconut charcoal in Sri Lanka and Indonesia, consequently reducing dependency on India. The supply chain relationships and sustainability were strengthened by providing the technology and financing to install environmentally friendly charcoaling pits under the initiative “Haritha Angara” to selected suppliers in countries we operate in.
Mr. Kariyawasan said that performances by the operations in Thailand and in Indonesia contributed significantly to overall Group performance. The allocation of value added sales supported by enhancement of production capabilities, processes and systems together with initiatives to grow the local markets helped to achieve the notable results. Similarly, the Group’s Environmental Engineering Company, Puritas (Pvt) Ltd showed a significant growth in its revenue, PBT and operational footprint.
Puritas Sath Diyawara, the flagship CSR initiative of the Haycarb Group, provides purified drinking water to families in the North Central Province where it is estimated that over 400,000 persons are affected by the Chronic Kidney Disease (CKD). Haycarb Group commissioned the first Sath Diyawara project to provide purified drinking water to over 1500 people, through a Reverse Osmosis (RO) Purification Plant and water distribution system in Maithreepura , Padaviya. Mr. Kariyawasan said that it was encouraging to note that in view of the success of this initial project that our Parent Company, Hayleys pledged to install a total of 10 similar Projects to service over 15,000 people. We are proud to announce that Puritas Sath Diyawara has won the prestigious “Asia Responsible Entrepreneurship Award 2015” under the category SME CSR from Enterprise Asia in recognition of this initiative.
Mr. Kariyawasan re-iterated the growth potential of the activated carbon industry in view of the continuous emphasis and awareness on environmental sustainability worldwide. Haycarb’s strength in the industry as a leading player renowned for quality, reliability and consistent performance in its entire spectrum of activated carbon products and purification solutions, positions the company to capture the growing opportunities in this industry.
The Board of Directors of Haycarb PLC comprises of Messrs Mohan Pandithage – Chairman, Rajitha Kariyawasan – Managing Director, Dhammika Perera, Arjun Senaratna, Sarath Ganegoda, Mrs. Jeevani Abeyratne, Dushantha Ranaraja, Nimal Perera, Dr. Sarath Abayawardana, Sujeewa Rajapakse, M. S. P. Udaya Kumara and Brahman Balaratnarajah
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- Haycarb records turnover of USD 90.8 Mn and profit before tax of USD 8.1 Mn for 2014/15
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Haycarb PLC is the world's leading manufacturer and marketer of coconut shell based activated carbon solutions. We have over 35 years of experience...
View on YoutubeHayleys is one of Sri Lanka's largest multinational business conglomerates with a history spanning 134 years. We drive a globally competitive busin...
View on YoutubeHayleys is one of Sri Lanka's largest multinational business conglomerates with a history spanning 134 years. We drive a globally competitive busin...
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