HAYLEYS

Hayleys is a leading diversified conglomerate, one of Sri Lanka’s largest value added exporters. It commands globally leading market positions in key sectors with products being sold in over 70 markets. With a vibrant history of 144 years, the Group has nurtured deep-rooted relationships across agricultural supply chains, distribution networks and customer segments, delivering significant socioeconomic value to stakeholders. With strong capability in manufacturing, research and development, and sustainability, it has been driving industries forward by innovation, capacity building and responsible corporate citizenship.

Q: How has Hayleys combatted the economic crisis?
A: Our management teams have proactively focused on ensuring that the right systems, controls and governance principles were in place to navigate macroeconomic headwinds. We are focused on keeping the economy’s wheels turning by earning foreign exchange, thereby safeguarding jobs and livelihoods.

In the immediate term, we ensured adequate inventories of essential raw materials and increased our reliance on local sourcing. Supporting the business continuity of our ecosystem of channel partners and distributors was paramount.
We continued to curtail nonessential expenditure to preserve liquidity, and increased our efficiency and productivity through digitalisation and automation.

Our export oriented businesses are focusing on new customer acquisition and deepening existing relationships. This is supplemented by a group wide drive to higher levels of value addition in new product development.

Q: What are the pillars of your Group’s success amidst challenging conditions?
A: Over the years, Hayleys has crafted a model of sustainable development that exemplifies responsible, value driven operations – creating value for diverse stakeholders.

Over 50 percent of the value we create is export oriented. In the past financial year, we generated US$ 615.98 million through our export businesses. These operations focus on delivering – in full, on time – as a key performance measure, which helped us maintain business continuity.

Our world is a rich ecosystem where motivated teams, united by common goals and values, work to achieve strategic objectives and emerge stronger than ever. This proved to be our greatest pillar of success.

Q: What role can corporates play in uplifting Sri Lanka’s image internationally?
A: Immediate measures to restore macroeconomic stability and normalcy are essential. Business continuity and strong governance mechanisms are keys to navigating challenges ahead.

Corporate entities dealing with international clients will play significant roles in driving confidence and strengthening our nation’s position.

The private sector must demonstrate it is resilient, organised and has established oversight mechanisms on current conditions through integration with professional associations and trade bodies.

Q: How should corporates balance the ‘triple bottom line’ given volatility in today’s business environment?
A: We must strengthen our Environment, Social and Governance (ESG) commitments – especially towards the wellbeing and livelihoods of employees and value chain partners as critical drivers of resilience, business continuity and responsibility.

Hayleys is guided by its ‘Lifecode,’ which sets out the Group’s 2030 ESG aspirations, road map and action plan. This integrates ESG driven values into strategy, on top of governance structures and policy frameworks in managing related issues.

QUICK-FIRE ROUND

Three recommendations to revive Sri Lanka’s economy
Cut down the trade deficit, which needs to be driven largely by a renewed focus on exports.
Innovative measures must be put in place to ensure that foreign currency, particularly remittances from the expatriate community, come in through the main banking system.
Fast track reforms in the education sector whereby private university education is expanded and more students have the opportunity to receive quality education.

Three most admired global business leaders
Dr. D. S. Jayasundera (former Chairman of Hayleys Group)
Ratan Tata (former Chairman of Tata Group)
Minoru Makihara (former CEO of Mitsubishi)

Q: How does a corporate’s commitment to continuous innovation help garner respect?
A: Amidst challenges, businesses that thrived had to embrace agile ways of working. Capacity for innovation is a competitive strength of Hayleys.

Deep understanding of ESG issues in the industries we operate in ensures our innovations are sustainable and support consumer consciousness of related issues.

Our fabric sector is winning over top apparel customers by innovating circularity in textiles, using natural sources such as waste mahogany bark from the furniture industry as fabric material dye. And our coconut fibre-based erosion control and growth media products have garnered the respect of buyers around the world.

Leveraging intrapreneurship in the business and investing in continuous innovation helped Hayleys to build trust and nurture long-term relationships in global markets, allowing it to take Sri Lanka to the world. The eyes of the world are on Sri Lanka now, and it is more important than ever to inspire confidence.

Telephone 2627000 | Email info@cau.hayleys.com | Website www.hayleys.com