The USD 26 Mn expansion project of Teejay India is completed and started operating by adding 20 Tons to the Group capacity to serve its customers with on time deliveries. Teejay Group has kicked off a few key strategic initiatives in order to enter the next phase of growth. Apart from Teejay India capacity expansion project, Teejay is moving towards to an integrated ERP solution with the implementation SAP S4 HANA across the Group. Given the above factors, the Group remains confident of maintaining growth and delivering value to shareholders on a continuous basis.
Teejay Group concluded the financial year 2022-22 recording LKR 50 Bn in revenue and a Net profit of LKR 2.5Bn for the year. This is the first occasion the group has reached the quarter billion mark in USD terms despite the challenges faced during the year. The revenue increase was a result of increased demand from the region and increased prices as result of the increase in raw material compared to the previous year. The enhanced volumes were delivered with the increased capacity within the group inclusive of our outsourced partners.