General Purpose User

Reporting features

Voluntary adoption of SLFRS S1 and S2 under transitional relief for first-time adopters
Narrative structured to articulate the Group's holistic value creation process
Enhanced digital features
Building

World of Hayleys

The Hayleys Group is Sri Lanka's leading diversified conglomerate and one of the country's most socioeconomic impactful organisations. The Group's extensive business interests across 14 industry verticals, global market positions and unparalleled depth and breadth of relationships across Sri Lanka's diverse supply chains have enabled it to drive inclusive progress, integrating itself with the socio-economic fabric of the nation over an illustrious history of nearly 150 years.

Our year in numbers

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Financial Performance
2023/24
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Environmental Performance
2023/24
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Social Performance
2023/24
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Leadership and Governance

Chairman

Chairman's Message

"With today's global reality being one in which ambiguity and constancy of change outweighs any semblance of certainty, the Hayleys Group performed credibly to generate a Consolidated Revenue of Rs. 436.83 bn and a Profit Before Tax of Rs. 25.34 bn. While these numbers represent a normalisation from the record highs of the previous year, I believe this year it is important to look beyond the financial statements to truly appreciate the Group's underlying achievements, which have strengthened the Group's resilience and positioned it for transformational growth"

  • Group's evolution has been inextricably linked to the country's growth trajectory as we have contributed to Sri Lanka's resilience
  • We are proud to be one of Sri Lanka's most socio-economically impactful organisations, with deep rooted relationships across value chains, customer networks and communities
  • The Group continues to inject value across its ecosystem catalyzing positive change

  • Key areas of strategic focus during the year included diversification of the Group's geographical footprints and customer segments while relentlessly pursuing customer-centric innovation and service excellence
  • Consolidated Revenue declined by 10% to Rs. 436.83 bn, with export-oriented sectors affected by the unfavourable exchange rate dynamics
  • Consolidated Profit Before Tax amounted to Rs. 25.34 bn with the Purification, Projects & Engineering and Hand Protection Sectors emerging as key contributors to profitability

  • Formation of Sector-level ESG Committees to identify and manage sector-specific ESG risks while driving the ESG roadmaps
  • Group has invested close to Rs. 5 bn in solar energy in recent years while Hayleys Fentons is driving the country's transition to a low-carbon economy with 200MW of solar power installations

  • Earnings per share of Rs. 9.19
  • Share price increased by 13% during the year to close at Rs. 82.10
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Corporate Governance

Corporate Governance image
"Hayleys has long since embraced governance principles designed to ensure the longevity and continued excellence of the organisation to drive multi-stakeholder value creation. This approach has enabled the Group to move beyond incremental growth and advance transformational change-leveraging the power of an enterprise-wide approach to corporate governance to deliver on our purpose"

Key Highlights in 2023/24

Compliance to New Listing Rules
Board Composition: Appointment of 2 Independent, Non-Executive Directors
Board Approval of Bribery and Anti-Corruption Policy and Shareholders and Investor Communication Policy
Introduction of Sector-Level ESG Risk Assessments
Revised Terms of Reference for Nominations and Governance Committee
Key Highlights in 2023/24 image
Board Contribution to Value Creation

Board Contribution to Value Creation

  • Monitoring strategy execution and performance delivery
  • Navigating the volatile external environment
  • Digital transformation
  • Ethics and culture
  • ESG Integration
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Strategy

The Group's strategy is underpinned by five pillars, formulated by the Strategic Business Development Unit (SBDU) at Hayleys PLC and cascaded to each Sector under the leadership of the Group Management Committee.

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Building resilience through portfolio optimisation
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Customer centricity
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Nurturing inspired teams
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Inclusive business models
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ESG Integration
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Value Creation and Capital Management

The Group relies on its resources and relationships (classified into six capitals) to create and preserve value through its diverse business activities.

Capital Measuring success Download
Financial Capital
Funding to pursue strategic growth aspirations
  • Consolidated Revenue: Rs. 436.83 bn (-10%)
  • Profit Before Tax: Rs. 25.34 bn (-41%)
  • 8% increase in Total Assets
  • 8% increase in Borrowings
  • Debt to equity ratio: 1.40X
Financial Capital
Manufactured Capital
Enables production of innovative, high-quality products
  • Capital expenditure: Rs. 19.83 bn
  • Capacity expansion in value-added product capabilities across key Sectors
  • Investments in sustainable manufacturing methods
Manufactured Capital
Human Capital
Ensure continuity of operations through timely decision making and action
  • Payments to employees: Rs. 53.12 bn (+14%)
  • Employee retention rate: 74%
  • Average training hours: 10.19
  • Female representation rate: 35%
Human Capital
Social & Relationship Capital
Provides the Group's social license to operate
  • 99% customer complaints resolved
  • Value injection to suppliers: Rs. 325 bn
  • Local supplier payments: 54%
  • CSR investment: Rs. 408 mn
Social & Relationship Capital
Intellectual Capital
Sharpen competitive edge and provide access to new markets through innovation
  • Investment in R&D: Rs. 548 mn
  • New products: 624
  • Products in pipeline: 695
  • Array of certifications across verticals
Intellectual Capital
Natural Capital
Provides critical resources for business including water, energy and raw materials
  • Total emissions: 2% reduction (excluding new acquisitions during the year)
  • Reliance on renewable energy: 68%
  • Energy consumption: 10% increase in energy consumption
Natural Capital