9 Distilleries Company of Sri Lanka
Board of Directors
1 R K Obeyesekere
2 C R Jansz
3 N de S Deva Aditya
4 Capt K J Kahanda (Retd)
5 C F Fernando
6 Dr Neomal Balasuriya
7 V J Senaratne
(Alternate Director to K J Kahanda/ Company Secretary)
8 Amitha Gooneratne
(Alternate Director to N de S Deva Aditya)
As DCSL reaches a landmark celebrating 100 years in existence, it remains the leader in the alcohol industry. Continuing its growth trajectory this year as well, the group recorded a PAT of 5.3 billion rupees while the company’s PAT was at 6.9 billion rupees inclusive of the intra-group capital gain. During the financial year the gross revenue of the group increased to 65.8 billion rupees. Although the subsidiaries Lanka Bell and Texpro experienced losses due to challenges in the economy, the plantation sector saw positive results with the Balangoda plantation recording a satisfactory performance with a turnover of 2.8 billion rupees despite extreme weather conditions experienced.
DCSL’s primary business, the manufacture of hard liquor beverages accounts for the major proportion of the group revenue. The gross revenue of the beverage sector increased to 56.5 billion rupees despite increase in taxes. DCSL and Periceyl continued to maintain profitability during the financial year. The beverages sector contributed 37.5 billion rupees to the state by way of Excise Duty.
In December 2012 Fitch ratings accorded DCSL the highest credit rating AAA(lka) with a stable outlook that serves as an attest to the group’s prudent management of finances and corporate stabilities.
In continuing with the group’s restructuring plans the diversified investments of the group were aligned to Melstacorp providing greater focus on this sector. Although telecommunications sector experienced a steep rise in operational costs Lanka Bell managed to sustain EBITDA margin of over 30 percent, which compares well with the industry average.
Under the astute leadership of Harry Jayawardena, Chairman, the group continues to innovate and create value. As a leader in corporate Sri Lanka, much can be expected from this conglomerate.