Connect with us

Business

Ex-Pack unpacks good 1st half

Published

on

Ex-Pack Corrugated Cartons Limited, one of Sri Lanka’s leading manufacturers of corrugated cartons, has announced an excellent performance during the 1st half of FY2021/22, ending 30th September 2021. The Ex-Pack group has achieved a top line revenue of LKR 3.465 billion, against 2.065 billion during the same period in the previous year, recording a 59% increase, YOY. This was achieved amidst a subdued environment for manufacturing during April and May. Company turnover grew to LKR 2.319 billion, against LKR 1.460 billion the previous year. In terms of manufacturing volumes, Ex-Pack has achieved YoY growth of 17.4% during the 1st half, which is 7.7% above forecasts. The Company’s subsidiary, Neptune Papers (Private) Limited also posted volume growth of 13% for the same period under review.

Based on the 1st half results, Ex-Pack is on track to exceed its forecasted revenue of LKR 5.865 billion for the year. Given that the corrugated carton industry usually witnesses seasonal high demand during the 2nd half of the year, the Company is confident that it will beat all financial forecasts this financial year. During the 1st half of the year, PAT stood at LKR 200 million, against just 45 million during the same period in the previous year, during which performance was heavily impacted by the global pandemic. Earnings Per Share (EPS) for the 1st half stood at LKR 0.80.

Discussing Ex-Pack’s solid financials and sought-after IPO, Zulficar Ghouse, Managing Director said, “The numbers we are seeing are very encouraging. We have successfully managed to navigate one of the most turbulent times in global history, while still posting solid gains and delivering exceptional value to our shareholders. We take this opportunity to renew our resolve to maintain our position as one of Sri Lanka’s leading end-to-end corrugated cartons and packaging solutions providers.”

Ex-Pack Group Chairman, Sattar Kassim further added, “We are optimistic about the future, and look forward to expanding our production capacity through our soon to be commissioned 3-billion-rupee manufacturing plant, which will up our monthly capacity from 2,750 metric tons to 4,000 metric tons by 2025. We also take this opportunity to thank all those who subscribed to our IPO, and announce that trading of Ex-Pack shares will commence on the 10th of November 2021 under the ticker symbol, PACK, on the Colombo Stock Exchange.”

Ex-Pack’s product portfolio includes regular slotted cartons, die-cut cartons, laminated cartons and a host of specialized products developed using recycled material. The Company has designed and engineered many innovative, world class products, including lightweight cartons for fresh fish, and garment on hanger cartons, for high-quality apparel to be shipped upright, hung on clothes hangers. Ex-Pack also worked with the Department of Elections to transform ballot boxes in Sri Lanka, crafting them out of corrugated cartons for the first time ever, enhancing security and mobility, during the 2020 General Election. The Company serves top corporate customers and brands, worldwide, across a range of industries including FMCG, consumer durables, apparel, tea and fisheries.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

A sustained wave of Indian assistance to Sri Lanka showcases defining shift in developmental diplomacy

Published

on

Transport Minister Bimal Rathnayake and Indian High Commissioner Santosh Jha at the plaque unveiling ceremony for the Moragahakanda Bridge project, supported by Indian grant assistance.

By Sanath Nanayakkare

An evolving approach to regional diplomacy was brought into sharp focus with the recent foundation-laying ceremony for the Moragahakanda Bridge in Matale.

Jointly launched by Indian High Commissioner Santosh Jha and Minister of Transport, Highways and Urban Development Bimal Rathnayake, this 175-metre span is far more than a routine civil engineering project. It serves as the physical manifestation of a broader USD 450 million reconstruction package deployed by India in the wake of Cyclone Ditwah, which severely fractured the island’s transport arteries.

Foreign aid is too often discussed in cold, macroeconomic abstractions. Yet, every so often, a consistent pattern of targeted assistance alters the landscape of bilateral relations, offering a clear window into how regional partnerships evolve out of necessity and goodwill.

Across the country today, a remarkable narrative of multi-layered cooperation is unfolding.

From critical post-disaster infrastructure and maritime routes to grassroots agricultural uplift and institutional capacity-building, India’s developmental footprint is shifting unmistakably toward an organic, people-centric model of shared resilience.

What distinguishes this latest wave of assistance is its deliberate pivot from emergency support to permanent, climate-resilient transformation. When Cyclone Ditwah initially paralysed regional connectivity, India’s immediate response was marked by the rapid deployment of temporary Bailey bridges.

Today, that swift humanitarian intervention has matured into a structural blueprint: the Moragahakanda project stands as the vanguard of 13 permanent bridges being built across Sri Lanka’s provinces by IRCON International Limited, complemented by upcoming railway upgrades and modern signaling systems backed by a USD 250 million Line of Credit.

The true signature of this diplomatic shift lies in its breadth, operating simultaneously across multiple tiers of society:

Institutional Governance: Delegations of Sri Lankan parliamentarians and senior administrative officers regularly travel to India to study public policy frameworks, legislative systems, and administrative practices.

Economic Lifelines: Financial mechanisms, such as viability gap funding for the Nagapattinam-to-Kankesanthurai passenger ferry service, continue to shrink geographical distances, reviving coastal commerce and tourism.

Grassroots Empowerment: Specialised capacity-building programmes tailored for local stakeholders – ranging from state officials to rural dairy farmers -ensure that development reaches deep into the island’s hinterlands.

By aligning immediate disaster relief with long-term infrastructure, institutional capacity, and human capital, India and Sri Lanka are demonstrating how neighbours can build safer, more connected futures together, grounded firmly in mutual respect and tangible progress.

Continue Reading

Business

Bring your own bag to book fair, CEA urges

Published

on

By Ifham Nizam

The Central Environmental Authority (CEA) yesterday urged visitors to the Colombo International Book Fair to bring reusable bags to carry their purchases, as part of a drive to reduce single-use plastic waste at the event.

CEA Director General R. S. P. Kapila Rajapaksha said large quantities of plastic, particularly “sili sili” bags, had been used to carry books at previous book fairs.

“We urge visitors to bring an environmentally friendly, reusable bag when they come to buy books. This simple step can help reduce the use of single-use plastic and protect the environment,” Rajapaksha said.

The book fair opens on September 25, with the CEA and the Sri Lanka Book Publishers’ Association launching an awareness programme targeting book sellers, food vendors and visitors.

The programme will be conducted under the theme “Read Smart, Carry Smart”, focusing on reducing polythene and plastic use throughout the exhibition.

The CEA said the use of plastic bags is also subject to regulations issued under the Consumer Affairs Authority Act. Gazette Extraordinary No. 2456/41, dated October 1, 2025, prohibits the free distribution of handled “sili sili” bags to consumers. Where such bags are sold, the charge must be included in the customer’s bill.

The CEA said food outlets at the book fair would also be required to comply with regulations prohibiting a range of single-use plastic products.

These include plastic straws and stirrers, disposable plastic plates, cups, spoons, forks and knives, as well as polythene-based food wrappers commonly known as lunch sheets.

The CEA said it had discussed the requirements with relevant stakeholders and reached agreement to ensure that prohibited products are not used at food outlets within the exhibition premises.

The authority urged both traders and visitors to cooperate with the initiative and help make this year’s book fair a more environmentally responsible event.

Continue Reading

Business

Japanese investor Yoshimichi Watanabe backs Hunas Holdings

Published

on

Yoshimichi Watanabe / Tanaka - Director Hunas Holdings PLC

Partnership signals renewed foreign investor confidence in Sri Lanka as a destination and in the long-term growth of its hospitality sector

Japanese investor Yoshimichi Watanabe has entered into a partnership with Colombo Stock Exchange-listed Hunas Holdings PLC, in a move that comes as the diversified conglomerate prepares a significant expansion of its hospitality and real estate interests in Sri Lanka.

The partnership brings foreign capital and international market experience into one of Sri Lanka’s fastest-diversifying listed groups at a point when the Group is actively building out its pipeline across both sectors. Hunas Holdings is currently evaluating a series of hospitality and real estate developments in Sri Lanka, with further announcements expected in the coming months.

Hunas Holdings PLC operates across hospitality and leisure, real estate, renewable energy and agriculture, with a hotel portfolio that includes Hunas Falls in Elkaduwa

For Sri Lanka, the significance of the partnership extends beyond the two parties. Inbound investment of this nature, from an investor with direct and sustained experience of the market, is a measure of returning confidence in the country as a destination and in the underlying fundamentals of its hospitality sector, at a time when the industry is repositioning towards higher-value, experience-led travel.

Watanabe brings investment experience across e-commerce, hospitality and real estate in Japan and in international markets including Bali, Indonesia. He has also maintained a relationship with Sri Lanka over many years, having made multiple investments in the country, giving him first-hand insight into its business environment, regulatory landscape and long-term potential.

Continue Reading

Trending