BPPL Holdings Listed In Forbes Asia 200 ‘Under A Billion. 
Posted 17,September

By Chaveendra Dunuwille

In Local News

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Out of 20,000 publically listed companies from all across Asia, BPPL Holdings, South Asia’s largest brush manufacturer and plastic recycler, became the only Sri Lankan company listed in the Forbes Asia 200 Best under a Billion list. 

BPPL Holdings is one of the few pure Environment, Social & Corporate Governance companies in Asia. The company was the first plastic recycler awarded the National Green Award and Presidential Environment Awards in 2019. The company was also one of the top 10 recycling heroes in 2021—an accolade awarded by the Global Recycling Foundation for Global Recycling Day. 

Qualitative and Quantitative methods such as debt, sales & earnings per share, and growth measures for fiscal years and three-year periods were used by Forbes to determine the company’s overall position. Revenue under $1 billion, overall track record, and consistent top to bottom growth were also considered. 

The company owns one of two plants globally capable of creating polyester yarn directly from recycled PET plastic flakes. The company recycles over 360 000 PET bottles per day, converting them to polyester yarn and monofilaments, and since its inception in 2011, it has recycled over 380 million PET bottles. 

Through its wholly-owned subsidies Eco Spindles Ltd and Beira Brush Ltd, the company exports recycled polyester yarn, monofilaments, professional & household cleaning tools to the USA, Canada, India, Bangladesh New Zealand, and the United Kingdom. Through ‘Tip Top,’ the company also exports household cleaning brushes. 

In the 2020/21 fiscal year, the company’s revenue rose by 31% Year-on-year to reach LKR 3.4 billion, and the Group Net Profit After Tax increased by 23% to reach LKR 497 million. The company is also one of the best-performing stocks in the Colombo Stock Exchange and is one of the few company’s to generate revenue in USD.