Market Leadership
Swisstek (Ceylon) PLC has reaffirmed its position as a market leader in tile mortar, grout, and surface preparation solutions a leadership built on trust, consistency, and product excellence. The brand’s deep‑rooted presence across Sri Lanka, supported by an extensive dealer network and a strong value proposition, has made it the preferred partner for both commercial projects and residential developments.
We have not only retained market share in our core product categories but also strategically expanded our footprint into adjacent segments and export markets, particularly the Maldives. With renewed construction activity and the lifting of import restrictions, Swisstek is well positioned to scale up market reach, drive category innovation, and cement its role as a partner of choice in Sri Lanka’s rebuilding journey.
Dividends
The Group has declared and paid an interim dividend of Rs. 1.15 per share for the current year. A final dividend of Rs. 0.35 per share has been proposed to be approved by the shareholders at the next annual general meeting.
Building Beyond Today
As we move forward, our focus is on building beyond. We are actively investing in our capabilities, markets, and people to create value beyond traditional boundaries. The recommencement of large‑scale projects, combined with increased retail activity, has created a renewed demand for high‑quality flooring solutions, an opportunity we are ready to seize. We are strengthening our presence in export markets, particularly in the Maldives, and are evaluating entry into other regional territories. Our product portfolio spanning tile mortar, grout, adhesives, and finishing products remains at the heart of our strategy to drive market expansion and value creation. Working capital discipline, digital integration, and automation are key priorities as we build a leaner, smarter organisation. We are also increasing our focus on ESG integration, making progress in sustainable manufacturing and empowering the communities around our operations.
Our People, Our Strength Our journey of levelling up would not be possible without the commitment and courage of our people. Throughout this year, our team has demonstrated extraordinary perseverance, skill, and adaptability. We remain deeply invested in their growth, welfare, and engagement.
Strengthening Stewardship
At Swisstek (Ceylon) PLC, our governance philosophy is centred on integrity, transparency, and accountability, forming the cornerstone of our long‑term value creation agenda. In a year marked by transformation and recovery, the Board remained actively engaged in providing strategic oversight and ensuring that decisions were aligned with the Company’s purpose and stakeholder expectations.
We adopted a forward‑looking governance approach, focusing on risk anticipation, agility in policy response, and resilience in performance. The Board and its Committees worked cohesively to strengthen internal controls, oversee prudent financial management, and align operational priorities with emerging market realities. As the Company entered a new phase of growth, we ensured governance remained both a safeguard and a strategic enabler in charting a sustainable path forward.
ESG and Sustainability
Swisstek is committed to levelling up our impact beyond profits, by actively integrating Environmental, Social, and Governance (ESG) considerations into our core strategy. During the year under review, we continued to advance our sustainability agenda with focus on resource efficiency, eco‑conscious manufacturing, and community engagement.
We implemented energy‑saving measures and waste reduction initiatives across our manufacturing facilities, supporting a transition towards more environmentally friendly operations. Our supply chain and sourcing decisions are increasingly guided by responsible practices, while we continue to seek opportunities to reduce our carbon footprint. On the social front, we prioritised employee wellbeing, with continued investments in training, engagement, and performance‑based rewards. Our CSR outreach supported local communities around our plants, reinforcing our role as a responsible corporate citizen.
Looking ahead, we are working towards establishing more structured ESG targets, enhancing disclosures, and aligning with national and global sustainability goals. We believe that true progress is not only measured by financial metrics, but by the lasting value we create for people, planet, and society
Future Outlook
The resumption of key infrastructure projects has injected new life into the construction sector. With investor sentiment improving and funding lines gradually reopening, domestic and foreign investment flows are once again beginning to trickle into real estate and infrastructure development.
Private sector‑led projects, particularly in tourism‑related infrastructure, mixeduse developments, and residential construction, have started to regain momentum. Simultaneously, urban regeneration efforts, such as those in Colombo and secondary cities, are expected to stimulate broader economic activity and generate employment across value chains.
The path to full recovery remains challenging and contingent on sustained reforms and external economic conditions, the current trajectory reflects cautious optimism. If the government continues to maintain macroeconomic discipline and accelerates regulatory reforms to improve the ease of doing business, Sri Lanka is well‑positioned to rebuild its growth narrative, with the construction sector poised to play a pivotal role in this transformation.
Governance & Sustainability
Mr. Mahendra Jayasekera, Managing Director, resigned on 1st of April 2025 after more than two decades of dedicated leadership. We take this opportunity to express our sincere appreciation for his invaluable contribution to the growth and success of the Group during his distinguished tenure.
We are pleased to welcome Mr. Daminda Perera as the Chief Executive Officer to the Board. He brings with him a wealth of 21 years of cross‑industry experience spanning pharmaceuticals, FMCG, Automotive, Agriculture, Manufacturing and Construction. We look to strengthen and expand our retail footprint in the years ahead.
During the year, Mr. L N D S Wijeyeratne resigned from the Board and we are deeply appreciative of the contributions made by him in guiding the Group.
We welcomed Mr. R M M J Ratnayake and Mr. B D S Mendis as the Independent Non‑Executive Directors, strengthening industry insights at the Board level and are confident that their skill and expertise will significantly contribute towards the deliberations of the Board.
CSE Rule #9 on Corporate Governance was complied with in keeping with all governance standards, and as part of this process, the Board Committees were reconstituted and director roles were re‑designated to align with the updated governance framework. The necessary policies have been published on the corporate website, and a summary of the Groups compliance with Section No. 9 has been included in the Corporate Governance Report.
Gratitude and the Road Ahead On behalf of the Board, I extend my sincere appreciation to our customers, suppliers, and business partners for their continued trust and collaboration. I also thank my fellow Board members for their wisdom and strategic direction in leading the Company towards its transformative path. To our shareholders, I thank you for your unwavering support. As we look ahead, we are confident in our path levelling up from a position of resilience and building beyond the limitations of the past. Together, we aim to unlock new horizons of opportunity and deliver enduring value in the years to come.
