CFA Society SL picks Haycarb as subject company for local competition of CFA Research Challenge

Haycarb Managing Director Rajitha Kariyasawan

CFA Society Sri Lanka announced that the subject company for its 15th annual Research Challenge will be Haycarb PLC. 

The Research Challenge is an annual educational initiative designed to promote best and ethical practices in equity research to students from universities worldwide through hands-on mentoring and intensive training. Leading industry professionals mentor students on how to research and report on a publicly traded company. 

Last year, more than 5,000 students from over 900 universities in 91 countries participated in local challenges, leading to the regional and global competitions hosted by CFA Institute. This year the Global Final will be held in New York City on 17th May 2022.

Commenting on the CFA Institute Research Challenge, Haycarb PLC Managing Director Rajitha Kariyasawan said: “We were very pleased to participate as the subject company of this global competition organised by CFA Institute and CFA Society Sri Lanka, and to support this annual educational initiative designed to promote best and ethical practices in equity research. We wish all the teams all the very best in this competition.”

Haycarb PLC is a leading manufacturer and marketer of coconut shell activated carbon. Accounting for over 16% of the global market share, the company has an annual capacity of 55,000 metric tons of activated carbon. Haycarb manufactures a complete range of standard, washed and impregnated activated carbon in granular, powder and extruded pellet forms for a full spectrum of applications in water treatment, air treatment, gold recovery, food and beverage industry, energy storage and specialty applications. 

Equipped with in-house R&D and engineering capabilities, they offer a total solutions suite to customers from activated carbon testing and product development, regeneration of spent activated carbon to designing and implementation of activated carbon-based environmental engineering systems.

Established in 1973 – the first in any coconut producing nation – Haycarb operates six activated carbon manufacturing locations in Sri Lanka, Thailand and Indonesia, supplying a global sales network with marketing subsidiaries in USA, UK and Australia. The annual turnover for FY21 stood at Rs. 25 billion. The company is listed on the Colombo Stock Exchange with a market capitalisation of over Rs. 24 billion.

Eighteen teams from State and non-State universities in Sri Lanka will submit a research report with their recommendation, derived based on an in-depth analysis on Haycarb PLC. The shortlisted teams will present and defend their equity analysis at the local finals to be held in February 2022, to a panel of judges.