Haycarb records turnover of USD 71.4 million and profit before tax of USD 3.7 million at Q3 2017/18
Haycarb PLC, the Sri Lankan multinational of Hayleys PLC reported revenue of USD 71.4 million and profit before tax of USD 3.7 million for 9 months ending 31 December 2017. The profit after tax stood at USD 3.1 million.
Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that the raw material shortages and resulting high prices continued to impact the bottom line adversely in Q3 of 2017/18. The deterioration of charcoal availability in Sri Lanka, India and Thailand driven by unfavourable weather conditions, resulted in significant increases of cost of manufacture in Sri Lanka and Thailand. On the other hand, even though the raw material availability continued to recover in Indonesia during the period under review, the price pressure did not ease due to the high level of demand attributable to shortages of charcoal in other locations. In this situation the company has made significant efforts to revise prices of activated carbon in consecutive occasions through discussions with its valued customers. However, the lagging effect and the inability to pass the full impact of the price increase has resulted in lower margins compared to last year.
Mr. Kariyawasan stated that in this challenging environment, noteworthy savings were generated through increased efficiencies and cost reductions obtained via manufacturing processes and supply chain through lean projects.
He further said, “The company’s initiatives to acquire new customer accounts and market segments backed by a robust product development platform have also shown positive results and added to the bottom line. Haycarb will continue to engage in its development initiatives to capture new markets, while using every effort to provide the best value proposition to its existing markets world-wide. Haycarb PLC made significant progress in its accreditations in quality by obtaining GMP, HACCP and ISO 22000 certifications from SGS that will enable the Group to position its high value added products in the food, cosmetic and pharmaceutical application segments.”
He also noted the positive contribution to the bottom line from the Environmental Engineering arm, Puritas (Pvt.) Ltd. in Q3 and commented that this business segment is expected to continue its growth momentum and make a significant impact to the bottom line in the last quarter.
We are also proud to state that Puritas Sathdiyawara, the key CSR initiative of the Hayleys/Haycarb Groups, that is instrumental in providing 160,000 litres of clean drinking water daily to 33,000 people in 19 villages in North Central and Nothern districts affected by the Chronic Kidney Disease (CKD) of Sri Lanka, was named world’s best environmental water project at Energy Globe World Awards 2017.
Commenting on the future prospects and growth of the Group, Mr. Kariyawasan said that the company remains positive to achieve medium to long term growth in the background of increasing emphasis on environmental sustainability worldwide through the execution of its strategic plan for growth and diversification.
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.
HAYLEYS PURITAS SATHDIYAWARA WINS GLOBAL AWARD FOR WATER AT ENERGY GLOBE WORLD AWARDS 2017
HAYLEYS PURITAS SATHDIYAWARA WINS GLOBAL AWARD FOR WATER AT ENERGY GLOBE WORLD AWARDS 2017
Director Haycarb PLC & Puritas, Ms. Sharmila Ragunathan holding the Energy Globe World Award for the best Environmental Water Project with ENERGY GLOBE Founder Wolfgang Neumann at the Energy Globe World Award Ceremony 2017 at the Presidential Palace in Tehran
- The world winners in environmental initiatives were announced on January 16, at the Energy Globe World Award Ceremony 2017 held in the Presidential Palace in Tehran.
- Guests from 60 nations joined the ceremony, among them ministers of the Iranian Government, who announced the winners.
Puritas a subsidiary of Haycarb Group and a member of Hayleys PLC was announced the World Winner in the category of Water - for its acclaimed Hayleys’ Puritas Sathdiyawara project for providing clean drinking water to people with chronic kidney disease through its reverse osmosis water purification systems and comprehensive strategic village upliftment. The 1st place was tied with the Kerman Copper Region of the Islamic Republic of Iran for its integrated water master plan to provide water for the Sarchechmen mine, which includes an upgrade of tailings disposal and water management system.
Over 2,000 projects from 178 countries were submitted for the prestigious environmental award in five categories: Earth, Fire, Water, Air and Youth. The jury, led by Maneka Gandhi, environmentalist and Indian Union Cabinet Minister for Women & Child Development, selected 16 finalists and awarded the 5 most outstanding environmental projects.
The award in the category Air went to the Austrian Post for reducing their ecological footprint by replacing conventional vehicles with electric vehicles in their operations. Sustainable Coastlines Charitable Trust from New Zealand received the award in the category Youth for their flagship education center, where pupils, community groups and business are taught to become guardians of the environment. The award in the category Earth went to the Rural Green Environment Organization from Afghanistan for its efforts to reforest degraded watershed and establish fruit orchards through community involvement in one of the remotest and poorest mountainous valleys. Kalinga Institute of Social Sciences from India received the award in the category Fire. Green initiatives undertaken by this institute have found a great way to reduce the ecological footprint for large scale cooking.
To date Puritas Sathdiyawara provides 160,000 litres of clean drinking water daily to over 33,000 men, women and children across 19 villages in the North and North Central provinces since 2014. Each project is sponsored by a Group Company, and to-date the Hayleys Group has invested more than Rs. 63 million in this initiative. It consists of a formalized water distribution network through a bowser and multiple docking stations throughout the village to ensure all villagers have equal access to purified water.
Chairman and Chief Executive of the Hayleys Group, Mohan Pandithage said: “Sathdiyawara since its humble inception in 2014 has grown to be the heart of our Group CSR. I commend the Puritas Team for the incredible passion and love with which they have been driving this initiative and of course the Hayleys Group Companies who so generously contribute to the growth of this initiative. The Teams work with large numbers of villages in the North and North Central provinces, at ground level to identify the most severely affected villages. We have gone above and beyond what we originally set out to achieve, by additionally supporting the communities with livelihood development opportunities. Each time I see the hopeful faces of the beautiful village children and their families, I feel blessed that we have been able to transform their lives and give them hope for a better, healthier future. To me that is the greatest joy, but winning world acclaim for all the unwavering efforts of my Team is definitely exhilarating. Well done to the Team involved!”
Commenting on this outstanding achievement which puts Sri Lanka on the Global Sustainability map, Managing Director, Haycarb and Puritas, Rajitha Kariyawasan said: “This global recognition is beyond what we had ever envisioned when we started Hayleys’ Puritas Sathdiyawara in 2014. Our single-minded focus then and now, lies in eradicating CKD within the country. Sathdiyawara also consciously supports villages whose grim conditions are exacerbated not only by this debilitating illness but also by drought, dry arid conditions including floods, which deny them of basic access to drinking water. We are extremely humbled beyond words that our genuine efforts have received such global acclaim. We thank our Chairman and all the Hayleys Group Sectors who have stepped up to support this project which now has become the flagship CSR endeavour of the Hayleys Group.”
Elaborating further Director Puritas – Sharmila Ragunathan who accepted the award at the Ceremony in Tehran and who spearheads the passionate team that leads this initiative added: “This gift of life which we sincerely give to 33,000 Sri Lankans signifies a renewed hope for the future of these families. We do it out of genuine altruism. While winning awards is not the reason behind this endeavour, winning this world award is undeniably, deeply encouraging and has motivated the Puritas Team to persevere and continue this life changing project with renewed passion and enthusiasm.”
The international ENERGY GLOBE Awards / World Award are presented annually in the realm of a festive ceremony. The 3 nominees in each category are invited and the winners are announced at the ceremony. Prominent Award presenters include Kofi Annan, Michail Gorbachev, Maneka Gandhi (Former Indian Environment Minister), Ahok Khosla (President Club of Rome) the Presidents of the EU Commission and EU Parliament, UNEP DG Achim Steiner, former World Bank Inspection Panel Chief Prof. Edward S. Ayensu. Actors like Martin Sheen, Aamir Khan, Peter Falk (Columbo), etc. presented awards and famous singers like Robin Gibb, Dionne Warwick, Alanis Morissette, etc. were guests at the ceremonies.
To safeguard the future of the planet and the right of future generations everywhere to live healthy and fulfilling lives should be a human right for everyone. ENERGY GLOBE Founder Wolfgang Neumann has made this goal his lifetime mission. The International ENERGY GLOBE Awards / World Award for Sustainability are means to raise awareness on this issue, to showcase best practice solutions from a variety of countries, to motivate people to contribute their share and to convince governments to provide the necessary framework.
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Haycarb records turnover of USD 46.5 million and profit before tax of USD 1.94 million for 1H 2017/18
The Sri Lankan multinational Haycarb PLC reported a revenue of USD 46.5 million and profit before tax of USD 1.94 million for the six months ending 30th September 2017. The profit after tax stood at USD 1.64 million.
Haycarb PLC Managing Director Mr. Rajitha Kariyawasan said that whilst the company continued to expand its market reach and recorded a healthy growth in turnover, the sharp increase in the price of its key raw material, coconut charcoal impacted its bottom line significantly. While the company made significant efforts to revise prices upwards through comprehensive discussions with its valued customers, the inability to pass the full impact of the raw material price increases and the lagging effect of price revisions has resulted in lower margins than last year. The company has successfully implemented initiatives to strengthen the raw material supply chain networks in Sri Lanka and Thailand during the period under review through its “Haritha Angara” program of assisting to build more environment friendly charcoal pits in Sri Lanka and by strengthening its own charcoaling operations in Thailand. However, the raw material availability in these two locations is expected to decline during the latter half of the year due to seasonal factors, a key challenge to be reckoned with. The raw material supply chain in Indonesia has recovered from the severe setback it suffered and is expected to improve further during the third and fourth quarters.
He further added, that “the current trend of shortages and resultant increases in prices of coconut charcoal is likely to continue in to the second half of the financial year in Sri Lanka and in India in particular. The company is in the process of negotiating further adjustments necessary to its sales pricing to the extent permissible based on the competitive market conditions. The adverse currency movements experienced in Thailand and Indonesia, where the company has a significant presence, can further aggravate the impact on margins.” On a positive note he added that the company has achieved encouraging savings in its lean platforms and growth in some markets and value added product segments that signal potential for the future.
Mr. Kariyawasan said that the environmental engineering arm Puritas (Pvt.) Ltd., will contribute positively to the top and bottom lines in the second half of the year and expressed confidence on this segment’s continued growth and potential for the future.
In the background of increasing emphasis on environmental sustainability worldwide Haycarb remains positive in its medium to long term outlook in its activated carbon and water treatment systems businesses.
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.
The Board of Directors of Haycarb PLC comprises of Messrs Mohan Pandithage – Chairman, Rajitha Kariyawasan – Managing Director, Dhammika Perera, Arjun Senaratna, Sarath Ganegoda, Ms. Jeevani Abeyratne, Dr. Sarath Abayawardana, Sujeewa Rajapakse, M. S. P. Udaya Kumara, Brahman Balaratnarajah, Ali Asgar Caderbhoy, Ms. Sharmila Ragunathan, James Naylor and M. H. Jamaldeen.
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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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