Lanka Tiles: Difference between revisions

'''Lanka Tiles PLC''', [[doing business as]] '''LANKATILES''', is a [[glazed ceramic]] and [[porcelain tile]] manufacturing company in [[Sri Lanka]]. The company was incorporated in 1984 and two years later was listed on the [[Colombo Stock Exchange]]. Lanka Tiles was a part of the government-owned Ceylon Ceramics Corporation. In 1991, all but one division of Ceylon Ceramics Corporation was incorporated as Lanka Ceramic Limited. Ceylon Theatres acquired Lanka Ceramic from the government of Sri Lanka. In 2013, Royal Ceramics acquired 80% of the stake in Lanka Ceramic, thus bringing Lanka Tiles under the umbrella of the Vallibel One Group. The company capitalised on an anti-dumping duty imposed by the government of the United States on goods originating in China and started exporting mosaic tiles to the United States. Lanka Tiles iswas one of the 100 most valuable brands in Sri Lanka in 2022. Due to weakening demand as a result of the prevailing economic crisis in the country, the company restarted its operations in India. Lanka Tiles is also an ''LMD'' 100 company in Sri Lanka.

Lanka Tiles is included in the 2022 100 most valuable brand index in Sri Lanka. The company ranked 48th, rising by ten ranking positions from the previous year.<ref>{{cite news |title=Lanka Tiles among Top 100 Most Valuable Consumer Brands |url=https://archives1.sundayobserver.lk/2022/05/22/business/lanka-tiles-among-top-100-most-valuable-consumer-brands |access-date=18 February 2023 |work=[[Sunday Observer (Sri Lanka)|Sunday Observer]] |publisher=[[Associated Newspapers of Ceylon Limited]] |date=22 May 2022}}</ref><ref>{{cite web |title=Sri Lanka 100 2022 |url=https://brandirectory.com/download-report/brand-finance-sri-lanka-100-2022-full-report.pdf |website=brandirectory.com |publisher=Brand Finance |access-date=18 February 2023 |pages=12, 15 |date=2022}}</ref> Even though the government imposed an import ban on tiles, Lanka Tiles is facing rising raw material, machinery costs and weakening demand due to the [[2019-present Sri Lankan economic crisis|prevailing economic crisis]].<ref>{{cite news |title=Tile manufacturers worried over maintaining growth momentum amid declining consumer demand |url=https://www.dailymirror.lk/business-news/Tile-manufacturers-worried-over-maintaining-growth-momentum-amid-declining-consumer-demand/273-238806 |access-date=18 February 2023 |work=Daily Mirror |publisher=Wijeya Newspapers |date=10 June 2022}}</ref> Lanka Tiles restarted its tile manufacturing operations in India and also planning on opening a distribution channel. Despite the company ramping up production, the company came to realise its demand iswas falling in Sri Lanka and inventories arewere building up.<ref>{{cite news |last1=Edirimuni Chandrasekera |first1=Duruthu |title=Sri Lanka's Lanka Tiles restarts Indian operation |url=https://www.sundaytimes.lk/230108/business-times/sri-lankas-lanka-tiles-restarts-indian-operation-507360.html |access-date=18 February 2023 |work=The Sunday Times |publisher=Wijeya Newspapers |date=8 January 2023}}</ref>

==Awards& accoladesRanking ==