ACL Cables shines in SL’s Top 40 Business rankings as sole cable brand

ACL Cables PLC was ranked amongst Sri Lanka’s Top 40 Corporates according to leading magazine Business Today’s Top 40 for the year 2021/2022.

Ranked in 32nd position, notably ACL Cables was the only cable company to be listed in the Top 40 and honoured by its first-ever listing in the prestigious rankings. Furthermore, ACL was among one of three companies in the building material industry to be recognised amongst the Top 40.

Annually, Business Today TOP 40 identifies the premier corporate performers. For 2021-2022, Business Today has recognized the top corporate performers who reported positive financial growth amidst the turbulent situation of the country.

The Top 40 ranking acknowledged ACL’s outstanding exponential success in recording the highest profits and highest growth for the first time in its six-decade history. 

ACL Cables recorded a top line of Rs. 35 billion with a year-on-year growth of 56 percent and mammoth Rs 5.1 billion net profit with a 200 percent YoY growth as a group for the financial year ended in March 2022. Significantly, the company celebrated this record milestone overcoming a challenging economic and business environment during its 60th diamond anniversary.

Commenting, Managing Director Suren Madanayake said, “We have once again proved ourselves as the number one cable and electrical brand in the industry. We have outmatched our competition and cruised ahead of the rest to remain as the true leader.

“I am delighted in our achievement even during tough and turbulent economic conditions. We successfully managed our cash flows effectively and always looked to optimizing investments across all business areas to benefit our topline and bottom lines. This strategy has enabled us to achieve the best results for the recent financial year.”