Considered as one of Sri Lanka’s largest cable manufacturers, the respectable local manufacturer and worthwhile contributor to the national economy, Sierra Cables Group has managed to record its highest ever revenue of LKR 5.2 billion.
The recorded profit in FY 21 is a 7% increase in comparison to the previous year. The company has also managed to record the highest ever Profit After Tax (PAT) valued at LKR 314 million, an increase of 37.4%. The company has managed to thrive despite the pandemic due to prudent financial planning and mitigation strategies and according to the financials of the company they managed to record a healthy Gross profit margin of 15.6% and a Net Profit of 5.7%. The exception planning of the company has also helped reduce fiscal cost by 31.2%.
The Earnings per share (EPS) had shown an increase from 0.49 to 0.59 and the Net Assets per share also showed a noticeable increase from 3.74 to 4.99. The Net Margin also showed an increase from 4.11% to 5.71%
Determined to continue its profitable path the company has shown to be expanding its capabilities and service portfolio it hopes to introduce HDPE pipes and solar related products into the market as the nation begins its transition to renewable energy. As part of the expansion the company has dedicated a plant for solar manufacturing with in-house tinning facilities.
The CEO further added that the company has a very positive outlook to the future and looks forward to the exciting opportunities that will be available with the completion of the Colombo Port City as the company is one of the major cable suppliers to most governmental projects.
No.820, Mount Cresent,Malabe,Sri Lanka