Teejay Group, Sri Lanka’s first multinational textile manufacturer delivered a remarkable financial performance by posting a Profit After Tax of LKR 2.8 billion marking a substantial 152% year-on-year growth during the year ended 31st March 2025. The strong bottom-line performance was driven by the rapid execution of strategic initiatives, effective cost optimisation and Teejay’s ability to leverage its multinational presence in Sri Lanka and India.
The Group also reported a revenue of LKR 67 billion, marking a 10% increase from the previous year. This growth was driven by a favourable sales mix and increased demand, achieved despite market challenges and the appreciation of the Rupee against the US Dollar. The Group has recorded a Gross Profit of LKR 7.9 billion, a 56% increase compared to the same period last year. This significant growth has been largely driven by the continued stability in raw materials and a favourable product mix, both of which have positively impacted the Group’s topline and its overall profitability.
Highlighting the company’s resilient performance, the Chairman of Teejay Group, Ajit Gunewardene said, “These results reflect the strength of our business fundamentals and the resilience of our team across borders. Despite a complex external environment, we remained focused on delivering shareholder value through operational discipline and innovation. The significant growth in profitability and revenue this year is a direct outcome of the Group’s consistent efforts to remain agile and respond effectively to changing market dynamics.”
The CEO of Teejay Group, Pubudu De Silva, added, “Our performance this year is a testament to our long-term strategies and our ability to adapt swiftly to market shifts. While remain focused on driving innovations, lean operations and product excellence the teams are working on new product segments to identify new customers to sustain the growth momentum. The Group is now better positioned than ever to explore new markets and growth opportunities with its multi-location footing. Despite the volatilities in the market, Teejay will continue to explore opportunities for growth by discovering new business and evaluate the potential of capturing new international markets.”
Image Caption – Teejay Lanka Chairman Mr Ajit Gunewardene and CEO Mr Pubudu De Silva
About Teejay Group
The Teejay Group owns manufacturing facilities in Sri Lanka and India, along with a state-of-the-art printing facility in Sri Lanka. An ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 compliant company and the first in the industry to develop green fabric, Teejay Lanka was also the first textile manufacturer in Sri Lanka to receive membership of the US Cotton Trust Protocol. Teejay is a publicly quoted company with 40 percent public ownership and the backing of Sri Lanka’s largest apparel exporter Brandix Lanka which has a 32 percent stake in the Company. Pacific Textiles of Hong Kong, whose key shareholder is the Tokyo Stock Exchange listed Toray Industries Inc., owns 27 percent of Teejay Lanka.
Teejay Lanka was ranked the No 1 corporate entity among 100 public listed companies in Sri Lanka for Transparency in Corporate Reporting in the TRAC 2023 assessment carried out by Transparency International Sri Lanka (TISL), the local arm of the international corruption watchdog. The TISL assessment was carried out on three areas crucial to fighting and preventing corruption: reporting on anti-corruption programmes, transparency in company holdings and the disclosure of key financial information in domestic operations.