BPPL Holdings PLC, one of Southeast Asia’s largest brush manufacturers and Sri Lanka’s largest plastics recycler equipped with one of only two plants in the world capable of creating polyester yarn directly from recycled PET plastic flakes, is the only Sri Lankan company to have entered Forbes Asia’s 200 ‘Best Under a Billion’ list.
Forbes evaluated over 20,000 publicly traded companies in the Asia-Pacific region this year with revenues of under US Dollars 1 billion and consistent top-and bottom-line growth from which only 200 were selected. Companies were selected based on a composite score that incorporated their overall track record.
Aside from quantitative criteria, qualitative screens were used as well. A leader in sustainable business, offering a solution to Sri Lanka’s waste management issue, the Group recycles over 360,000 PET bottles a day into polyester yarn and monofilaments. It has recycled over 380 million bottles since it commenced its recycling operations in 2011.
BPPL is one of the few pure Environmental, Social and Corporate Governance (ESG) impact companies in Asia with a collective focus on sustainability. Through its wholly-owned subsidiaries, Eco Spindles (Pvt.) Ltd and Beira Brush (Pvt.) Ltd, the group exports recycled polyester yarn, monofilaments, and professional and household cleaning tools to international markets, including India, Bangladesh, Australia, New Zealand, the USA, Canada, and the UK.
The Group has also won awards as the first and only plastic recycler to be honoured with the National Green Award at the Presidential Environmental Awards in 2019 and accolades.
After overcoming pandemic-related obstacles, the Group also concluded the fiscal year 2020/21 with remarkable improvements in all key financial metrics. The consolidated revenue of BPPL increased by 31% year on year to Rs 3.4 billion. The Group Net Profit After Tax increased by 23% year-on-year to Rs 497 million.
Managing Director and Chief Executive Officer, Dr Anush Amarasinghe said, “We hope to continue this long-term growth trajectory through investments such as in expanding our yarn and monofilament production facilities by investing in cutting-edge technology. We are also increasing the pipeline of product orders, diversifying our product range, expanding our market share by capturing new geographies and customer segments.”
BPPL Holdings PLC has also been one of the best-performing stocks in the Colombo Stock Exchange (CSE) as there is a growing and serious interest from foreign buyers.
BPPL Holdings is one of the very few companies listed on the CSE that generates nearly all its revenue in USD, an integral solution to the foreign exchange crisis.
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