Sierra Cables revenue tops Rs. 16 b, PAT climbs 194% in FY26

Executive Director/ CEO Harsha Jayatunga

Sierra Cables PLC, Sri Lanka’s leading cable manufacturer and a member of the LOLC Group, delivered a record financial performance for the financial year ended 31 March 2026, posting significant growth in both revenue and profitability while further strengthening its position in international markets and expanding its domestic distribution footprint.

The company reported revenue of Rs. 16 billion, representing a 73% increase over the previous financial year, while Profit After Tax (PAT) rose to Rs. 2.7 billion, reflecting a remarkable 194% year-on-year increase. Profit from operations also exceeded Rs. 3 billion, recording an increase of more than 119% compared to the previous financial year. Earnings per share (EPS) increased to Rs. 4.95, compared to Rs. 1.68 in the previous year, underscoring the company’s strong operational performance and enhanced shareholder value. 

The exceptional performance was driven by robust demand across key market segments, improved manufacturing efficiencies, higher capacity utilisation, growing export contributions, and continued investments in product innovation, product quality enhancement, and operational excellence.

Sierra Cables’ latest results build upon the momentum achieved during the previous financial year 2024/25, when the company recorded revenue of Rs. 9.26 billion and profit after tax of Rs. 903 million, both of which were record highs at the time. The FY2025/26 results have substantially surpassed those benchmarks, reflecting the success of the company’s long-term growth strategy and strengthening its position as one of Sri Lanka’s most successful manufacturing enterprises.

Sierra Cables’ record performance reflects a clear strategic direction, strong leadership, and a successful business transformation. Under the leadership of Executive Director/CEO Harsha Jayatunga, and with the strategic guidance of Chairman Ishara Nanayakkara, the company has strengthened its operational capabilities, expanded its international presence, and enhanced its competitiveness.

Following its transition to an associate of Browns Investments in 2022 and a subsidiary in 2025, Sierra Cables has benefited from strengthened governance, strategic investments, and a focused growth strategy. These initiatives have driven a remarkable financial resurgence and positioned the company as one of Sri Lanka’s leading manufacturing success stories. 

Since becoming an associate company in 2022, Operating Profit has grown by 186% from Rs. 1.1 billion to Rs. 3 billion as at 31 March 2026, while Profit After Tax has grown by 464% from Rs. 472 million to Rs. 2.7 billion over the same period — a testament to the transformative impact of disciplined execution, enhanced governance, and strategic oversight under the Browns Investments group.

A key contributor to the company’s growth trajectory has been the increasing market demand for high-performance cable solutions with enhanced fire safety characteristics. As safety standards become increasingly stringent across residential, commercial, industrial, and infrastructure developments, Sierra Cables has continued to strengthen its portfolio of fire-resistant and fire-retardant cable solutions designed to deliver superior performance under critical conditions. These products have gained growing acceptance among engineers, consultants, contractors, and developers seeking internationally compliant cable solutions for modern construction projects.

The company also marked a significant milestone in its export journey through its continued expansion into the United States market. In global manufacturing, trust is earned through standards, and Sierra Cables holds a distinction unmatched within Sri Lanka’s cable manufacturing industry. The company remains the only cable manufacturer in Sri Lanka to have obtained both UL 44 and UL 854 certifications, internationally recognised standards that validate the safety, quality, reliability, and performance of its products.

These globally respected certifications confirm that Sierra Cables’ products meet the stringent requirements demanded by highly regulated international markets. They have also enabled the company to become the only Sri Lankan cable manufacturer successfully supplying the United States market, widely regarded as one of the most demanding and quality-conscious cable markets in the world.

The achievement places Sierra Cables in a commanding position among South Asian cable manufacturers, further enhancing the company’s competitiveness in international markets and supporting Sri Lanka’s export earnings. The U.S. expansion forms part of Sierra Cables’ broader strategy to diversify revenue streams, strengthen foreign exchange earnings, and increase its presence in high-value export destinations.

This export revenue grew by 345% year-on-year, rising from Rs. 1.1 billion to Rs. 5.0 billion in FY2025/26, with exports accounting for 31% of total Group revenue. This growth reflects Sierra Cables’ expanded presence across international markets and the global acceptance of its internationally certified product portfolio. Sierra Cables PLC continues to expand its global reach through operations in Zambia and Fiji, while benefiting from the technical expertise of its associate company, T & G Lanka Ltd., a specialist in electrical and fibre-optic cable systems, strengthening the Group’s capabilities and market presence.

On the domestic front, Sierra Cables continued to strengthen its market leadership through the expansion of its dealer and distribution network across Sri Lanka. The company further enhanced its reach through strategic dealer partnerships, improved channel engagement initiatives, and strengthened customer service support, ensuring greater product availability and accessibility across both urban and regional markets.

The expanded dealer network has played a pivotal role in supporting sales growth while enabling Sierra Cables to maintain close engagement with customers and respond more effectively to evolving market requirements. Backed by a reputation for uncompromising quality, reliability, and service excellence, Sierra Cables continues to strengthen its position as the preferred cable brand among contractors, developers, consultants, and end-users across the country.

Executive Director / CEO Harsha Jayatunga said that Sierra Cables remains focused on delivering sustainable growth through innovation, quality excellence, operational efficiency, and market expansion. He noted that the company continues to invest in advanced manufacturing capabilities, internationally certified product offerings, and strategic market development initiatives aimed at reinforcing its leadership position in Sri Lanka while accelerating its presence in global markets.

With strong financial fundamentals, internationally accredited products, a growing export footprint, and an expanding nationwide distribution network, Sierra Cables enters FY2026/27 well-positioned to capitalise on emerging opportunities and further elevate Sri Lankan manufacturing on the global stage.