Teejay Lanka PLC
Company typePublic
ISINLK0394N00003
IndustryApparel
Founded2000; 24 years ago (2000)
Headquarters
Avissawella
,
Sri Lanka
Key people
  • Ajit Gunewardene (Chairman)
  • Pubudu de Silva (CEO)
RevenueIncrease LKR49,587 million (2022)
Increase LKR2,573 million (2022)
Increase LKR2,531 million (2022)
Total assetsIncrease LKR59,893 million (2022)
Total equityIncrease LKR28,225 million (2022)
Owners
Number of employees
Increase 2,819 (2022)
Subsidiaries
  • Teejay Lanka Prints
  • Ocean Mauritius Limited
  • Teejay India
Websitewww.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]

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]

Legal issues

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

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. ^ a b "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.

External links

S&P Sri Lanka 20 Index companies of Sri Lanka   → All Share Price Index
S&P Sri Lanka 20 Index ←   All Share Price Index companies of Sri Lanka
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