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General Profile of the Company

CEAT Kelani Holdings Pvt Ltd. (CKH) is a joint venture between CEAT Limited, India and Kelani Tyres PLC, Srilanka. CKH through its four wholly owned operating companies, is in the business of manufacturing and selling automotive and industrial tyres, radial tyres. The organization is the largest player in the domestic market, both in terms of its manufacturing size, and also in terms of its market share. The organization has four factories which are located in Kelaniya and Kalutara and the process of tyre manufacturing is optimized for domestic & export needs.

The organization was started as a joint venture between CEAT India and AMW in 1992, and a small plant Associated CEAT (Pvt.) Ltd. (ACPL) was established in Kalutara, with a production capacity of just 4 tons per day to manufacture light truck tyres. With the initial high success of CEAT brand, the organization entered the truck (TR) tyre segment, and the production facility was expanded to 10 MT in 1996, and subsequently entered three wheeler (3W) and expansion increased capacity to 16 MT in 1997. The Government owned Tyre Corporation of Sri Lanka, which was a major competitor to CEAT, was privatized and taken over by Kelani Tyres in 1992. CEAT took over the management of Kelani Tyres in 1998, which was then formalized by a three way joint venture in 1999, consisting of CEAT, AMW and Kelani Tyres. Currently this is a two way joint venture between CEAT and Kelani Tyres with exit of AMW. This was considered the most successful Joint Venture in Sri Lanka. With the new joint venture, the capacity of CKH increased to 30 tons per day in 1999.

Operations

CKH wholly owns four operating companies. (1) Associated Ceat Pvt Ltd (ACPL) manufacturing bias three-wheel, industrial, light truck and truck tyre is located at Kalutara and is a BOI company. Other two companies are – (2) Ceat Kelani International Pvt Ltd (CKITL) manufacturing bias agriculture, light truck, truck and radial truck tyres and (3) Ceat Kelani Radial Pvt Ltd (CKR) manufacturing radial car, van tyres, both having plants located in Kelaniya. CKITL owns the mother plant at Kelaniya having full up-stream facilities. Also CKITL has a fully owned subsidiary (4) Asian Tyres (PVT) LTD (ATPL) which manufacture Radial car, van, SUV, light truck and bias Two wheeler tyres at Kelaniya. The three companies ACPL, CKR & ATPL) of the Joint Venture are largely dependent on CKITL for their upstream component requirement. The four companies have a combined capacity of 75 MT per day. The range of tyres manufactured by CKH includes tyres for heavy duty truck and buses, light commercial vehicles, two-wheeler, three wheeler, tractors, trailers, radial tyres for passenger cars, vans, SUV, light truck and truck.

People

CKH has a strong team of dedicated and experienced employees totaling about 1200. CKH encourages active participation of people and innovative thinking in all its business processes. The effectiveness of the people strategy is gauged by the management constantly through its interactions with people, their activities, and behavior and engagement surveys with constant focus on people perception. CKH was a gold medal winner of the SLITAD People Development Award in 2013.

Quality

Being an ISO 9001:2008 certified organization, CKH was the winner of the National Productivity Award in 2007. CKH was accredited with commendation of National Quality in two consequent years, 2008 & 2009 and were the winners in 2013 from Sri Lanka Standards Institution, Sri Lanka. The organization has also been declared the National Winner of the All Island Competition for Quality Circles in 2010. It has won the prestigious National Business Excellence Gold Award in 2010, 2011 & 2012 organized by National Chamber of Commerce in Sri Lanka.

Market share

CKH enjoys a very high profile in the Sri Lankan market with a market share of 58% in the commercial tyre segment. In the radial segment it has become the 2nd largest selling brand with market share of 34%. CKH is a key supplier to many leading institutions in Sri Lanka. The Central Transport Board, which manages & delivers the public transport service for the entire country, purchases over 90 percent of its requirements from CKH. Other major buyers like the Army, Navy, Air Force and Petroleum Corporation purchase almost all their requirements of tyres from CKH.

Market Reach

CKITL has over 450 strong dealer network across the island, which helps it to retain a strong presence in the domestic market. CKITL has also established good customer acceptance in Africa, Middle East and SE Asian countries, which has helped it to record a rapid growth in exporting its product.

Performance

The company has been on a continuous growth path and its turnover and profit has been consistently growing. Total turnover has almost tripled from Rs. 4.7 bln in 2007-08 to Rs. 12 bln in 2018-19. Profit before tax has dramatically grown from Rs. 137 Mn in 2007-08 to Rs. 1290 Mn. in 2018-19.

Future

CKH is committed to grow in its core markets and continue to provide superlative returns to all its stakeholders with continuous improvements and upgrading its operations. With the improved economic conditions in the country, the company has planned to expand in Radial segment and also increase its range of other products to meet the rapidly changing market conditions.

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