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Re: SUN Community

Postby PAT » Thu Aug 11, 2016 12:11 pm

Sunshine Holdings achieves highest-ever revenue, profits for 1Q

Achieving its highest-ever Group Revenue and Earnings Per Share (EPS) for a single quarter, diversified conglomerate Sunshine Holdings PLC has concluded the first quarter of its 2017 Financial Year (1Q 2016/17) on a high note.

For the quarter ended June 30, 2016 Sunshine Holdings boosted Profit After Tax (PAT) by a significant 30% year-on-year (YoY) to Rs. 408 million and increased Group revenue by 11% YoY to Rs. 4.6 billion.

The Group also improved Profit to Equity Holders by an impressive 27% YoY to Rs. 207 million, as well as its earnings per Share (EPS) by 27% YoY to Rs. 1.53.

The five sectors in which the diversified conglomerate operate are; Healthcare (Sunshine Healthcare Lanka Ltd. and Healthguard Ltd.), FMCG (Watawala Tea Ceylon Ltd.), Agribusiness (Watawala Plantations PLC), Packaging (Sunshine Packaging Ltd.) and Renewable Energy (Sunshine Energy Ltd.).

“This strong performance amidst economic and business volatility and challenges – especially in Agribusiness – reflects the solid fundamentals of Sunshine Holdings and its business units,” Group Managing Director (GMD) – Vish Govindasamy said. “The high growth trajectory of Sunshine Holdings is evident in the Group achieving its highest-ever Group revenue and EPS for a single quarter during the concluded financial period. With the expansion efforts and strategic initiatives which are underway, the Group is well poised for further growth acceleration in the medium to long term.”

Healthcare, the largest sector of the Group, which accounted for 42.4% of Group turnover for 1Q 2016/17, increased its revenue by 18% YoY. As a result of having to absorb exchange rate fluctuations (due to price controls on pharmaceuticals) Healthcare PAT however was down 6.1% YoY in 1Q 2016/17.

The FMCG sector revenue grew 14.4% YoY, with continued growth in the domestic market in which its brands – Zesta, Watawala Tea and Ran Kahata – collectively have over 35% market share. PAT however was adversely affected by pickup in tea prices and the cost of rollout of ‘Zesta Connoisseur’ to Shangri-La properties worldwide.
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Re: SUN Community

Postby PAT » Fri Aug 19, 2016 2:56 pm

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Re: SUN Community

Postby SHARK » Sat Aug 20, 2016 11:28 am

I think SH could give a fantastic super supreme analysis on SUN.
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Re: SUN Community

Postby SHARK » Sat Aug 20, 2016 11:33 am

Let me work on the chart ..... In the meantime.
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Re: SUN Community

Postby SHARK » Thu Sep 01, 2016 6:25 pm

SHARK wrote:Let me work on the chart ..... In the meantime.


Here is the Follow up chart on SUN... sorry for the delay :-B

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Re: SUN Community

Postby SHARK » Fri Sep 16, 2016 3:02 pm

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Re: SUN Community

Postby SHARK » Fri Sep 16, 2016 3:03 pm

SUN Financial Summary
For the three months ended 30 June 2016, Sunshine Holdings PLC revenues increased 11% to LKR4.62B. Net income increased 27% to LKR206.5M. Revenues reflect Healthcare segment increase of 18% to LKR1.96B, FMCG segment increase of 14% to LKR783.1M, investment segment increase from LKR46.1M to LKR131.2M. Net income benefited from Plantation segment income increase of 75% to LKR291.7M.
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Re: SUN Community

Postby PAT » Thu Sep 22, 2016 7:15 am

Sunshine Holdings taps into MTI’s HRM advisory

Sunshine Holdings has once again retained the HRM advisory services of MTI Consulting. With strong market positions in its three core focus areas of agribusiness, healthcare and FMCG, the Group has in recent time been recognized for its best practices in Strategic Human Resource Management.

“We consider the identification and grooming of our talent to be a key success factor that has propelled us into market leadership and market dominating positions” Group Managing Director Vish Govindasamy who is the architect of the Group's diversification into key economic sectors said.

Commenting on their client, MTI's CEO Hilmy Cader said “Within a short time span Sunshine Holdings has not only built strong ventures and brands, but also a strong employee brand that attracts the best talent in the market”

MTI HRM Solutions is the HR consulting unit of MTI Consulting and offers the full suite of HR Consulting solutions, including HR audits, Competency mapping, Assessment centers, Employee engagement surveys and Executive search.
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Re: SUN Community

Postby SHARK » Tue Oct 04, 2016 8:29 pm

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Re: SUN Community

Postby PAT » Tue Oct 04, 2016 8:44 pm

Thx Shark..,
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Re: SUN Community

Postby SHARK » Tue Oct 04, 2016 11:25 pm

Sunshine Holdings PLC is a holding company. The Company's principle activities are investment in subsidiaries and other investments where its interest in equity capital is less than 20%. Its business segments include Sunshine Holdings PLC, which is engaged in investment; Sunshine Healthcare Lanka Limited, which is engaged in whole sale and retail of pharmaceutical items; Watawala Plantations PLC, which is engaged in plantation; Sunshine Packaging Lanka Limited, which is engaged in packaging; Estate Management Services (Private) Ltd, which offers management services; Sunshine Power (Pvt) Limited, Upper Waltrim Hydropower (Pvt) Limited and Elgin Hydropower (Pvt) Limited, which are engaged in hydro power generation; Sunshine Energy Limited, which is engaged in investments; Healthguard Pharmacy Limited, which is engaged in retail pharmacy; Watawala Tea Ceylon Limited, which is engaged in manufacturing and retail, and Watawala Australia Pty Limited, which imports and sells branded teas.
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Re: SUN Community

Postby Hawk Eye » Tue Oct 25, 2016 10:06 am

WATA has done well again. They are focusing on quality than quantity. GP margins improving tremendously

This will contribute towards the top line and bottom line of SUN as plantation segment (WATA) is one of its main contributor along with Pharmaceuticals and FMCG

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Re: SUN Community

Postby SHARK » Tue Nov 08, 2016 7:18 pm

Good Results ...... My Value for SUN is 75Rs, but trading at massive discount @50Rs
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Re: SUN Community

Postby SHARK » Fri Nov 11, 2016 4:16 pm

SHARK wrote:Good Results ...... My Value for SUN is 75Rs, but trading at massive discount @50Rs


TS has reduced stakes .... and we see some new entrants
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Re: SUN Community

Postby PAT » Mon Nov 14, 2016 3:01 pm

Sunshine Holdings doubles profits in 2Q17

Sunshine Holdings PLC concluded the half year ended September 30, 2016 (1H17) on a strong positive note, supported by impressive growth in its agri business.

Consolidated revenue during the period under review rose by 13.6% YoY up to Rs. 9.6 billion, while Profits After Tax (PAT) increased by 42.2% YoY up to Rs. 935.4 million, leading to a 29% YoY increase Profits to Equity Holders of Rs. 433 million during, and earnings per share of Rs. 3.21 over 1H17.

Healthcare continued to be the largest contributor to top and bottom line performance, accounting for 41.7% of group revenue and 42% of Profit After Tax and Minority Interest (PATMI).

The Healthcare sector’s contribution was followed by strong performances across Sunshine’s Agribusiness and FMCG segments which accounted for 34.2% and 19.6% respectively. Net Asset Value per share during the same period increased to Rs. 44.9, as compared with Rs. 42.8 at the beginning of the year.

The performance of Sunshine Holdings over the quarter ended September 30, 2016 (2Q17) amounted to the Group’s highest ever 2Q performance. During this period, profits more than doubled, recording 53.5% YoY growth to reach Rs. 527 million.

The five sectors in which the diversified conglomerate operate are; Healthcare (Sunshine Healthcare Lanka Ltd. and Healthguard Ltd.), FMCG (Watawala Tea Ceylon Ltd.), Agribusiness (Watawala Plantations PLC), Packaging (Sunshine Packaging Ltd.) and Renewable Energy (Sunshine Energy Ltd.).

“Sunshine Holdings continues to demonstrate resilience and agility in the face of some notable challenges. Particularly in our Agribusiness, we have been able to achieve some of the best results in our industry and these qualities have also been the driving force behind the strong performances of our other business units,” Group Managing Director, Vish Govindasamy said. “Building on a record breaking first quarter earlier this year, Sunshine Holdings was able to achieve its highest ever 2Q profits. These results stand as further evidence of the growing success that our growth-oriented strategy has enabled and the Group remains poised for further expansion and innovation over the medium-long term.”

Healthcare revenue during 1H17 rose by 17.9% YoYdriven by growth in the Group’s retail business, however as a result of price controls of Pharmaceuticals, an increased cost of sales and exchange rate fluctuations were absorbed by the company, leading to a 90 basis point (bps) contraction in Earnings Before Income Tax margins (EBIT).

The FMCG sector reported revenues of Rs. 1.9billion in 1H17, up 20.3% YoY, on the back of both volume and price growth while the group’s domestic branded tea business within FMCG sold 1.89 million kilos of branded tea, up 15% YoY, driven by their largest brand ‘Watawala Tea’, and their converter brand ‘Ran Kahata’

The Agribusiness sector represented by Watawala Plantations PLC (WATA) saw revenue growth of 1.7% YoY to Rs. 3.3billion, despite a contraction of 6% YoY in Tea revenues, which was mitigated by the group’s flourishing Palm Oil sub sector which recorded a 42% YoY during the period in review.

Given the weak market conditions for tea, the company strategically cut down tea output to curtail losses and to improve quality, which has paid dividends as seen in the strong growth in profitability, and through the reduction in tea losses.
http://www.sundayobserver.lk/2016/11/13 ... ofits-2q17
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Re: SUN Community

Postby PAT » Sat Dec 03, 2016 11:47 am

Fitch Affirms Sunshine Holdings at 'A(lka)'; Outlook Stable

Fitch Ratings has affirmed Sri Lanka-based diversified conglomerate Sunshine Holdings PLC's National Long-Term Rating at 'A(lka)'. The Outlook is Stable.


The rating on the company reflects its exposure to defensive end-markets, strong positions in the markets for its key products and strong free cash flow generation despite short-term pressures faced by some its key operating subsidiaries. The rating also reflects Fitch's expectations that the group is likely to maintain a low level of leverage.


KEY RATING DRIVERS


Short-Term Challenges in Healthcare: Sunshine Holdings is the second-largest pharmaceutical distributor in Sri Lanka by sales. The government recently introduced a price control mechanism that Fitch expects will reduce Sunshine Holdings' pharma revenue by 15%-20%. However, Fitch believes the impact of the new regulation will be temporary and the long-term fundamentals for the segment remain intact as the population is rapidly aging, urbanisation is rising and per capita income is increasing, which will drive spending on healthcare.


Growth from Palm Oil: We believe Sunshine Holdings' palm oil segment will be the key growth driver in the medium term and will provide buffer against downturns in most other segments. Sunshine Holdings is the largest palm oil producer in the country and is strongly positioned to benefit from the government's policies protecting the sector to expand local production. Higher taxes on imported palm oil, an increase in global palm oil prices due to the recovery in oil prices and continuous capacity expansions by Sunshine Holdings should support the growth trajectory and profitability of the segment in the medium term.


Margin Pressure in Consumer Goods: Margin in Sunshine Holdings' fast-moving consumer goods segment, which is the largest branded tea company in Sri Lanka, has narrowed due to higher tea prices in the past six months. We expect tea prices to moderate in the next 12 months once supply stabilises, which should benefit Sunshine Holdings' margins in this segment. Sunshine Holdings' strategy to tap the higher growth by selling to the hotel, restaurant and catering industry should also help the segment, both in terms of top line growth and profitability.


Tea Industry in Structural Decline: Sunshine Holdings' tea segment posted operating losses for the third consecutive year in the financial year ended 31 March 2016 (FY16) as low global tea prices and escalating costs made it difficult for tea plantations to break even. Fitch does not expect a meaningful turnaround in the tea segment in the medium term owing to lower demand from Sri Lanka's key markets, such as Russia, Ukraine, and the Middle East, and cost pressures stemming from wage increases for plantation workers that are not based on productivity.


New Investments


Drive Growth: Sunshine Holdings is expanding its capacity in its power and dairy sectors, with the company expecting the majority of the new capacity to come online before end-FY19. Fitch believes the new projects will enable Sunshine Holdings to reduce its dependency on the highly volatile agricultural sector and improve overall margins as the new projects provide higher margins.
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Re: SUN Community

Postby PAT » Mon Jan 02, 2017 10:38 pm

Sri Lanka’s Lamurep seeks control of Sunshine Holdings at Rs47.50 a share

ECONOMYNEXT – Sri Lanka’s Lamurep Investments Ltd. has made a voluntary offer to buy the remaining shares of Sunshine Holdings at Rs47.50 a share after the investment company increased its stake in the diversified group through a share transfer last month.

Lamurep’s stake in Sunshine Holdings increased to 32.12% from 20.27% after G. Sathasivam, a director and big shareholder, transferred an 11.85% stake he held in Sunshine Holdings through Tansinghe (Private) Ltd. to Lamurep in December for Rs760.7 million.

The Rs47.50 a share offer for the remaining 91,287,436 ordinary voting shares ( a 67.55% stake) is the highest price paid for Sunshine shares in the preceding three months, a stock exchange filing said.

T. Senthilverl, a director and single biggest shareholder of Sunshine Holdings with a 22.42% stake, Deepcar Ltd., which owns 18.94%, Ceylon Property Development Ltd. which has a 2.22% stake and Sunshine Group Managing Director V. Govindasamy, brother of G Sathasivam, who has a 0.33% stake, have informed the company they will not accept the offer to buy their shares. 
(COLOMBO, Jan 02, 2016)
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Re: SUN Community

Postby GB » Mon Jan 09, 2017 6:04 pm

what would be the impact to margin as price reduction over selected medicine

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Re: SUN Community

Postby NC+ » Tue Feb 14, 2017 8:11 am

Sri Lanka's Sunshine Holdings hit by pharma price controls

ECONOMYNEXT - Sri Lanka's Sunshine Holdings Plc, which said profits in its healthcare business fell 66 percent to 91 million rupees in the nine months ended December 2016 due to price controls imposed by the state.

Revenues grew 10.5 percent with 41 percent coming from retail sales, the group said. Margins fell 4.3 percent to 3.3 percent mainly due to price controls which led to a write down of 123 million rupees in stock.

The firm said it was the second largest player in the pharma sector in the country with a 12 percent market share.

Revenues in pharmaceuticals had grown 6 percent from a year earlier, while surgical grew 19 percent, retail 34 percent, diagnostics 6 percent and wellness 16 percent.

The firm also has interests in agriculture and fast moving consumer goods.

Group revenues grew 3.2 percent to 4.42 billion rupees in the December quarter, with profit after tax growing 3.2 percent to 402 million rupees, helped by agriculture, especially palm oil. Its branded tea sales were also growing. (Colombo/Feb14/2017)
http://www.economynext.com/Sri_Lanka_s_ ... 320-3.html

Seems Q3 report already out.. :D :D
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Re: SUN Community

Postby Blue Whale » Tue Feb 14, 2017 9:48 am

Yes. Profit attributable to equity holders for 9M decline by 12% YoY while Q3 profits declined by 92% YoY.
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Re: SUN Community

Postby Shadow walker » Tue Feb 14, 2017 9:54 am

NC+ wrote:Sri Lanka's Sunshine Holdings hit by pharma price controls

ECONOMYNEXT - Sri Lanka's Sunshine Holdings Plc, which said profits in its healthcare business fell 66 percent to 91 million rupees in the nine months ended December 2016 due to price controls imposed by the state.

Revenues grew 10.5 percent with 41 percent coming from retail sales, the group said. Margins fell 4.3 percent to 3.3 percent mainly due to price controls which led to a write down of 123 million rupees in stock.

The firm said it was the second largest player in the pharma sector in the country with a 12 percent market share.

Revenues in pharmaceuticals had grown 6 percent from a year earlier, while surgical grew 19 percent, retail 34 percent, diagnostics 6 percent and wellness 16 percent.

The firm also has interests in agriculture and fast moving consumer goods.

Group revenues grew 3.2 percent to 4.42 billion rupees in the December quarter, with profit after tax growing 3.2 percent to 402 million rupees, helped by agriculture, especially palm oil. Its branded tea sales were also growing. (Colombo/Feb14/2017)
http://www.economynext.com/Sri_Lanka_s_ ... 320-3.html

Seems Q3 report already out.. :D :D



https://cdn.cse.lk/cmt/upload_report_file/510_1487040960.pdf
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Re: SUN Community

Postby GB » Sat Mar 18, 2017 12:57 pm

Lamurep Investments Limited consist of 32.45 of Sunshine holdings and voluntary offer at Rs 47.50 per share which going to expired on 20th march 2017.
https://cdn.cse.lk/cmt/uploadAnnounceFi ... 55_510.pdf

As per the offer letter of Lamurep Investments Limited under Terms and offer they have disclosed that Sunshine shareholders Dr. T. Senthilverl holding 22.42 percent, Deepcar Limited holding 18.94 percent, Ceylon Property Development Limited holding 2.22 percent and Vish Govindasamy holding 0.33 percent have already informed Lamurep that they would not accept the offer.

But no mention was made in the disclosure about the other Sunshine shareholder of significant size, Moneymore Securities Limited, which owns 16.88 percent of Sunshine.

In mean time Dr. T. Senthilverl is also collecting shares which higher the offer price at Market.
https://cdn.cse.lk/cmt/uploadAnnounceFi ... 94_510.pdf

It seems that Dr. T. Senthilverl does n't allowing to increase the stake of Lamurep Investments Limited and he tries to buying at the Market which is slightly higher the offer price.

So Are there any big competition going on to acquire the controlling power of Sunshine holdings ???

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Re: SUN Community

Postby PAT » Sat Apr 01, 2017 12:01 am

Japanese PE group buys stake in Sri Lanka’s Sunshine Holdings

ECONOMYNEXT - SBI Ven Holdings Pte Ltd., investment holding company that is part of Japan’s SBI Holdings, Inc. private equity group, has bought 14.85 million shares of Sri Lanka’s Sunshine Holdings at Rs50 a share.

The acquisition gives SBI Ven Holdings an almost 11% stake in the Sunshine Holdings group.

SBI Ven Capital is a leading private equity firm that invests in financial services and technology sectors across Asia

SBI Holdings, Inc. is one of the largest Japanese PE firms with assets under management of over US$3 billion.
(COLOMBO, March 31, 2017)
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Re: SUN Community

Postby GB » Sat Apr 01, 2017 9:35 am

Who is the Seller?

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Re: SUN Community

Postby PAT » Sun May 14, 2017 12:54 am

Sunshine Holdings to expand healthcare arm

Over the past 50 years, the biggest achievement was taking one small shop and transforming it into a diversified conglomerate, Group Managing Director, Sunshine Holdings, Vish Govindasamy said in an interview with the Sunday Observer.

Going down memory lane, he said that Sunshine Holdings PLC, one of the leading conglomerates in Sri Lanka was set up 50 years ago as a single pharmacy store by G. Sathasivam. It was then known as Lanka Medical (Pvt) Ltd and was situated in Gampola.

The business grew rapidly during its first ten years of operation and became the sole agent for the State Pharmaceutical Corporation for the upcountry area.

In 1977, they opened a ‘super center’ type of store in Kandy (Lanka Medicals Kandy) - where people could buy pharmaceutical products, home appliances, food items and cosmetics under one roof. It was the first of its kind in Sri Lanka at that time.

Then the founders moved to Colombo. They tied up with several partners which became agents at present. It also tied up with local and Indian agencies to facilitate a successful island-wide pharmaceutical distribution

Today, Sunshine Healthcare retains a substantial20% share of the private healthcare market, supplying over a thousand pharmaceuticals, nutraceuticals, medical diagnostic equipment and surgical products to over two thousand pharmacies, clinics and hospitals across Sri Lanka.

Plantations

“In the late 90s, we ventured into plantations when the government privatized the management of regional plantation companies. Today, Sunshine Holdings manages more than 12,000 hectares and employs close to 15,000 people through its subsidiary, Watawala Plantations PLC.

“WATA is a diversified company managing 15 tea estates and 4 palm oil estates in the Central and the Southern provinces, with 14 tea factories and the largest oil palm mill. This was achieved under my leadership.”

The turnover at present is Rs 19 billion and is aiming at that magic number of Rs 20 billion - with a workforce of over 15,000. Building all the brands under the Sunshine Holdings umbrella - The group’s Consumer business, Watawala Tea Ceylon Ltd has become one of the largest branded tea companies in Sri Lanka with the highest market share in the tea category of 35% with three brands: ‘Zesta’, ‘Watawala Tea’ and ‘Ran Kahata’ catering to three distinct market segments.

Recently, Watawala Tea was recognized as the most popular hot beverage brand of the year at the SLIM-Nielsen people’s Awards 2017.

The Healthguard brand - The Healthguard pharmacy chain was set up by Sunshine Healthcare to offer a range of pharmaceuticals, wellness and beauty products in a modern retail environment, and has established a benchmark for healthcare retailing in the country. Today, it has 24 pharmacies across the Greater Colombo area.

Promoting the concept of ‘Pharmacy Wellness and Beauty’ in Sri Lanka, Healthguard opened its newest full service store for the public in Thimbirigasyaya recently. The newly-established outlet is the 23rd of the country’s premier pharmaceutical retail chain.

Healthguard is a fully-owned subsidiary of Sunshine Healthcare Lanka (SHL) - the Healthcare arm of the diversified Sunshine Holdings conglomerate with interests in several key sectors of Sri Lankan business including agriculture, FMCG, renewable energy and consumer packaging.

Leading the market as Sri Lanka’s most modern retail pharmacy chain, Healthguard’s business model is focused on creating value, expanding choice and delivering superior service to customers.

Building on the immense brand loyalty and goodwill generated by Healthguard’s breakthrough business model, the Company plans to rapidly expand its footprint across the Western Province, extending its customer touch-points to a total of 35 stores within the next two years.

Sunshine Healthcare Lanka (SHL) established in 1967, is the partner of choice for international healthcare companies seeking to grow their business in Sri Lanka, in the areas of pharmaceuticals, surgical, diagnostic, medical devices and consumer health products.

SHL has a large specialized healthcare team, with over 300 medical marketing and sales personnel, 200 physical distribution personnel and a revenue of US$ 48 million for FY16.

Tata

“Tata Global Beverages is the world’s second largest tea brand in the world which owns the brand name Tetley and Wilmar International, and is also the world’s largest oil palm and edible oil company. They are also linked to the Shangri-La Hotel Chain as well.

“Today, Watawala Plantations supply tea to the second largest tea brand in the world directly. Recently, we became the exclusive tea supplier to Shangri-La chain of hotels, servicing 100 luxury hotels spread across 22 countries.

“When we formed the global alliance with Tata in 1997, most of the other plantation companies did not have a global partner. This partnership gave us lot of strength and we were able to gain knowledge in tea and modern business practices.

“They were the ones who pushed us to create the brands. Partnering with an organization like Wilmar created inroads into our palm oil cultivation and brought good value and systems into Sunshine Holdings.”

When asked about the future of the company, he said, “I can’t talk about the future but like in every good business, we will be looking at different opportunities in the next ten years.

“We will continue to invest in our healthcare and consumer brands. Our future will be in getting close to the customer and consumer. We will invest a lot in the whole consumer brands strategy.”

Innovation

As far as innovations are concerned, Sunshine Holdings has been the first mover in many instances. “As a group, we have never been afraid to fail. Our Board is such that they don’t restrict us from trying things new.

“When you look at a concept like Healthguard pharmacy, it has been a new concept for us to try in Sri Lank. We have recently gone into dairy business and not lot of people has invested that kind of money in going into a dairy business. We are continuing to do new things.

“There are many lessons as the management head I have learned. The first lesson is to be humble. You also learn to respect people and learn to appreciate leadership.

“You also learn to work as a team. Just because you are the head of the group, it means nothing without the help of your fellow employees. For me, it is always people, people and people. We work as a team, respect each other challenge each other every day to do better and win.

That is what I have learnt by being the leader of the group.”

“The management/business ideas applied to develop the company’s concepts so far are based on the founders’ vision. They are to be sharp in our business commitments, be conscious of our costs and respect the customer – look at what the customer wants, not what we want to build for customer. We always want to know from the customer what they want from us.

“Today we are the number one tea brand in Sri Lanka. Why did we get the People’s Award? People have selected us and believed in us. We greatly believe in the customer power.

“I see the plantation sector to be a challenge but at the same time, I feel there are so many opportunities we could tap into. The plantation sector pretty much has the most amount of land and people.

“We have to make sure that we take best use of this land. Unlike other countries, we have talented people in the plantations sector so we have to invest properly and make use of their talents in an effective manner. We need to find big investments to further develop the plantations sector.

“The Global Banking and Finance Review recognized the Sunshine Holdings as the Most Innovative Holding Group in Sri Lanka. I feel very proud about this.

“This is the second consecutive time the organization has been recognized with this coveted accolade. In its award announcement, Global Banking and Finance Review emphasized Sunshine Holding’s success in launching innovative brands, usage of high technology applications in Sri Lanka’s agribusiness sector and ensuring high standards of customer service and strong client relations with personal and client-focused services. The award actually belongs to my team. It is recognition of a company wanting to do new things.

“The Group’s future plan would be to add more value to share holders. It does not matter whether you are into consumer or plantation or healthcare.

At the end of the day, the shareholder of my company wants to make sure that his or her share is worth 10-20 per cent more than what they are worth today. When we meet as a team and look what we want to do, that is what we are aiming to do.

Dairy farm

“We acquired Lonach tea estate which was not doing well and transformed it into a viable dairy farm. This is a consumer product that has a good demand.

“The government spends a lot of foreign exchange to import powdered milk and we support the government’s efforts in popularizing liquid milk consumption. This project will help us to be a prolific nation-building company.

Profits

The Group’s sound fundamentals continue to be reflected in its financial performance for 2016, with Sunshine Holdings posting a 10.1% Year-on-Year (YoY) increase in consolidated revenue up to Rs. 14.1 billion during the nine months to December 31, 2016 and a 27.7% YoY increase in Profits After Tax up to Rs. 1.3 billion, bolstered by strong performances in its agri business which posted revenues in excess of Rs. 4.7 billion, up 2.7% YoY.

Healthcare revenue during the same period rose by 10.5% YoY to Rs. 5.6 billion while the Group’s thriving FMCG portfolio posted a 19.5% YoY increase in topline performance up to Rs. 3 billion.
http://www.sundayobserver.lk/2017/05/14 ... thcare-arm
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