Sunday Oct 11, 2026
Sunday Oct 11, 2026
Friday, 21 August 2026 00:24 - - {{hitsCtrl.values.hits}}
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| Chairman Ishara Nanayakkara |
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| Managing Director Harsha Jayatunga |
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Sierra Cables PLC yesterday said its Board of Directors has approved a $ 3.23 million capital investment in new machinery and infrastructure aimed at approximately doubling the company’s export production capacity amid sustained demand from overseas markets.
The company said the capacity expansion program is expected to be completed by the end of the 2026/27 financial year, with the enhanced capacity targeted to become commercially operational from 1 April 2027, at the commencement of the 2027/28 financial year.
Sierra Cables said the investment would provide greater scope to meet growing international demand and further expand its export business.
Sierra Cables reported a 94% year-on-year (YoY) increase in revenue to Rs.5.6 billion in the first quarter ended June 2026, while earnings rose 69% to Rs.706.3 million. Net assets stood at Rs.17.88 per share.
In the year ended March 2026, the company recorded a 359% increase in export revenue, supported by earnings from its key markets in North America, the Indian Ocean region and Africa.
Group revenue reached Rs.16 billion, including Rs.5 billion from export operations, driven by dollar-denominated sales that the company said substantially exceeded its annual targets. Domestic sales rose 35% to Rs.11 billion, supported by its dealer network and project-based business.
The share ended yesterday unchanged at Rs.32.60.
