Hayleys

Hayleys PLC is a Sri Lankan multinational & diversified conglomerate. Hayleys accounts for 2.73% of Sri Lanka's export income.[2] The Company operates through seven broad segments: Global Markets and Manufacturing, Agriculture, Power and Energy, domestic and industrial lighting,[3] Transportation and Logistics, Leisure and Aviation, Consumer, and Investments and Services. Hayleys comprises over 130 business units and subsidiaries, 9 of which are publicly listed in the Colombo Stock Exchange. The company has 36,000 employees.

Hayleys PLC
TypePublic
CSE: HAYL.N0000
IndustryConglomerate
PredecessorChas P. Hayley and Company
Founded10 January 1878 (1878-01-10)
Galle, Sri Lanka.
FounderCharles Pickering Hayley
Headquarters
Colombo
,
Sri Lanka
Key people
Mohan Pandithage (Chairman)
Dhammika Perera (Co-Chairman)
ProductsAgriculture
BPO And Shared Services
Construction Materials
Consumer Products
Fibre
Hand Protection
Leisure And Aviation
Plantations And Tea Exports
Power & Energy
Purification Products
Textiles
Transportation And Logistics
Revenue Rs 210.307 billion (2020)[1]
Rs 16.473 billion (2020)[1]
Rs 2.895 billion (2020)[1]
Total assets Rs 248.309 billion (2020)[1]
Total equity Rs 62.856 billion (2020)[1]
OwnerVallibel One (51.01%)
D.S.Jayasundera Trust (11.6%)
Employees Provident Fund (5.04%)
Number of employees
 31,029 (2020)[1]
Websitewww.hayleys.com

History

The beginnings of the Hayleys Group can be traced back to 1871 when Charles Pickering Hayley (1848-1934), the son of British businessman, Thomas Hayley (1807-1881), disembarked from the Percy Douglas,[4] a 781-tonne clipper ship (owned by Thomas Hayley), at Galle, Ceylon. The ship subsequently was wrecked off the coast of Rangoon.

Hayley joined a firm of shipping agents, Thomson Mitchell & Co, in 1874. When the company closed three years later due to bad investments, he rented a shop on Pedlar Street in Galle Fort and started his own import/export company, Chas. P. Hayley & Co., on 10 January 1878, exporting local products including coir, cinnamon and citronella oil and importing goods such as British claret. Hayley married Gertrude Fanny Lee (1849-1911), the daughter of George Lee, the Postmaster General of Ceylon (1844-1860) and Martha née Austin.[5] The couple had six children and in 1893 his oldest son, Alec (1875-1936), joined the firm, followed by another son, Stuart Pickering (1883-1960), eight years later.

In 1909, he entered into partnership with W. W. Kenny to purchase Thurburn Stores, at Deans Road.

Hayley and Kenny became a Private Limited Company in 1935 and Chas P. Hayley & Co. becomes a private limited liability company and fully owned subsidiary of Hayley and Kenny Ltd. in 1944. In 1954 under one corporate umbrella, the entity went public. Hayleys Ltd continued to diversify into a portfolio that currently includes activated carbon, rubber gloves, textiles, fibre based products, tea and rubber plantations, transportation and logistics services, consumer products, and other investments and services to name just a few.

Hayleys and its associates have forged successful partnerships with global giants such as Mercedes-Benz, TATA International, Dystar, Symrise, Bayer Cropscience, Philips Lighting, Polymer Latex, Volvo, Fujifilm, P&G, Shimadzu, Fedex and Gillette, to name just a few. Its adherence to the tenets of good corporate governance and ethical practices has made it one of the most respected companies in Sri Lanka and a corporate inspiration to many others.

Despite such unfavorable conditions such as an ethnic conflict that had claimed 65,000 lives since 1983, rampant inflation, and devastation and 30,000 deaths caused by the tsunami of 2004, Hayleys has survived and evolved into a US$300 million firm. The company has now transformed from its roots as a trading company into an industrial and services conglomerate.

In addition to Sri Lanka, Hayleys today has manufacturing facilities in Indonesia and Thailand and marketing operations in Australia, India, Bangladesh, Italy, Japan, Netherlands, UK and USA and its products are sold in 80 countries.

Corporate affairs

Hayleys is a Sri Lankan diversified conglomerate headquartered in Colombo, Sri Lanka. Its main offices are located in and around the premises; however other manufacturing, agricultural, marketing and production bases are geographically spread around the country and throughout five different continents.

Hayleys PLC, the Group’s holding company, has an AA-(Ika) by Fitch and a market capitalisation of 1.08%. However the composition of the entire Group includes 8 other publicly listed companies. The blue chip recorded its highest profits in the twelve months ending 31 March 2010, and made its single largest investment in its 130 plus year history – the buying over of the five star Ceylon Continental Hotel in Colombo, Sri Lanka now known as The Kingsbury. In 2010, the Ceylon Chamber of Commerce ranked Hayleys as the country’s best corporate citizen, based on an analysis of several factors of CSR and sustainability, implemented throughout public and private spheres.[6]

Corporate recognition

In 2010, Hayleys Group was named Sri Lanka’s Best Corporate Citizen by the Ceylon Chamber of Commerce.

The firm brought fame and recognition to the country by winning a European Foundation for Management Development Award for the INSEAD produced case study featuring the company, and winning the USAID Global Development Alliance Award for Sri Lanka for fostering commercial agriculture in Sri Lanka’s Eastern Province.[6] [7]

In 2012, the Hayleys Group was ranked amongst the top three most respected business entities in Sri Lanka and placed first for Nation-Mindedness in Lanka Monthly Digest’s ‘Most Respected Entities In Sri Lanka’ survey, the Group’s best standing since 2008.[8]

In 2015, Hayleys PLC was ranked the No.1 company in the LMD's Top 100 listed companies of Sri Lanka

Hayleys Lighting is the sole agent for Philips CFL, LED, incandescent and fluorescent lights in Sri Lanka. Other than domestic lighting, Hayleys Lighting also provide solutions for industrial light installation for grounds, offices and hospitals.[9]

References
  1. "Hayleys PLC Annual Report 2019/20" (PDF). Hayleys. Hayleys PLC. 17 June 2020. Retrieved 14 December 2020.
  2. "Archived copy". Archived from the original on 2012-01-25. Retrieved 2011-08-12.CS1 maint: archived copy as title (link)
  3. "Hayleys Lighting – Hayleys Lighting". Hayleyslighting.com. Retrieved 22 November 2018.
  4. "Archived copy". Archived from the original on 2012-04-05. Retrieved 2013-02-19.CS1 maint: archived copy as title (link)
  5. Senanayake, Manouri P Senanayake (2018). Odyssey of a Runaway Child: Galle to Australia's Goldfields and Beyond. ISBN 9789555333672.
  6. "Research - Articles - Journals - Research better, faster at HighBeam Research". Business.highbeam.com. Archived from the original on 11 October 2012. Retrieved 22 November 2018.
  7. "Centres of Excellence - INSEAD" (PDF). Insead.edu. 15 August 2015. Retrieved 22 November 2018.
  8. "Archived copy". Archived from the original on 2012-11-05. Retrieved 2013-02-19.CS1 maint: archived copy as title (link)
  9. "Energy Club – Hayleys Lighting". Hayleyslighting.com. Retrieved 22 November 2018.
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