11. Vallibel One
Vallibel One moves up in the Business Today TOP 30 to number 11. Focusing on ‘wealth creation for value creation', Vallibel One continues to make strategic decisions to enable growth and innovation.
The Group has made strategic investments in financial services, tile and sanitaryware manufacturing, leisure and through investment in diversified conglomerates. The main subsidiaries include Royal Ceramics Lanka (Rocell), L B Finance, Delmege and Green Water. The Group recorded a PAT of 7.46 billion rupees, which was a 43.35 per cent growth from the last year. Manufacturing and finance sectors performed well during the period.
With the construction industry resuming activity Rocell recorded a PAT of 4.09 billion rupees. With the success of the concept store in Victoria, Australia, Rocell is looking at further expansion in Australia, while also identifying markets in Karachi, Pakistan and the Maldives.
L B Finance saw a 70.37 per cent growth in PAT to record 3.72 billion rupees, which strengthened the company's market share. L B Finance also recorded a net interest income growth of 11.86 per cent and deposits growth of 17.5 per cent. NPL ratio was maintained at 3.28 per cent.
Delmege, which was brought under the umbrella of Vallibel One performed well to record 100 per cent PAT in Delmege interiors, healthcare cluster, construction products, insurance brokers, shipping freight and travels.
In the leisure sector, Greener Water has commenced work on the 18-acre property in Negombo. The Fortress Resorts in Koggala remains the key performer in the Group's hospitality and leisure industries.
It will be interesting to see the manner in which Vallibel One determines its next move and strategic direction, under the astute leadership of Dhammika Perera, Chairman/Managing Director who has always been assertive when identifying opportunities in any situation.