 Logo of Singer (Sri Lanka) PLC | |
| Company type | Public |
|---|---|
| CSE: SINS.N0000 | |
| ISIN | LK0156N00006 |
| Industry | |
| Founded | 1974; 52 years ago (1974) |
| Headquarters | , Sri Lanka |
Key people |
|
| Revenue |  LKR54.767 billion (2023) |
| LKR6.688 billion (2023) | |
| LKR96 million (2023) | |
| Total assets | LKR78.798 billion (2023) |
| Total equity | LKR12.089 billion (2023) |
Number of employees | 2,986 (2023) |
| Parent | Hayleys (69.55%) |
| Subsidiaries | See text |
| Website | singersl |
| Footnotes / references [1] | |
Singer (Sri Lanka) PLC is aSri Lankanholding company engaged inretailing andwholesale marketinghome appliances and furniture.[2] The company is also taking part in financial services and manufacturing businesses.[3] The company is listed on theColombo Stock Exchange since 1981 and in 2017, the Sri Lankanconglomerate,Hayleys acquired the majority of the shares. Singer (Sri Lanka) is ranked 17th in theLMD 100, an annual list of listed companies in Sri Lanka by revenue, in 2020/21 edition.[4] Brand Finance ranked the company 15th mostvaluable brand in Sri Lanka in its annual list of top 100 brands.[5]
TheSinger Corporation entered the Sri Lankan market in 1877 with the sale ofsewing machines.[1] The company was incorporated as a limited liability company in 1974 and became aquoted company in the Colombo Stock Exchange in 1981. In 1988, the company started manufacturing refrigerators through its subsidiary, Regnis Lanka. The first Singer Mega shop opened in 1998 and in 2000 the company acquired the local refrigerator manufacturing brand, Sisil. In 2011, the company entered into the sale of smartphone business and the 400th Singer showroom was opened in 2013. In 2017, Hayleys acquired a controlling stake in the company and thus became the parent company of Singer (Sri Lanka).[1] The value of the acquisition stood at LKR10.9 billion, making it one of the largest acquisitions for a listed company in Sri Lanka.[6]
The company controls the subsidiaries of Singer Finance (Lanka), Singer Industries (Ceylon), Regnis Lanka, Realty (Lanka) Ltd, Singer Digital Media (Pvt) Ltd, and Singer Business School (Pvt) Ltd.[1] Singer (Sri Lanka) was credit rated asA+(lka) byFitch Ratings in April 2022.[7] In 2020, Singer (Sri Lanka) emerged as the market-leading seller forDell laptops in Sri Lanka.[8] Due to theCOVID-19 pandemic, increased incidences ofremote work anddistance education arrangements, the demand for consumer electronics rose and the company posted LKR16.7 billion in sales in the second quarter of 2020.[9] The company announced a 3-for-1stock split in 2021.[10] Also in 2021, the company won the People's Brand of the Year for the consecutive 15th time at the SLIM-Nielsen Awards. The company also reclaimed the award for Youth Choice Brand of the Year after three years.[11]
| Subsidiary | Holding | Value LKR (mns) | Activity |
|---|---|---|---|
| Singer Finance (Lanka) PLC | 79.93% | 1,428 | Financial services |
| Singer Industries (Ceylon) PLC | 87.72% | 692 | Manufacturing, assembling sewing machines |
| Regnis (Lanka) PLC | 58.29% | 722 | Manufacturing refrigerators |
| Singer Digital Media (Private) Limited | 100% | 5 | Merged with the parent in January 2023 |
| Singer Business School (Private) Limited | 10 | Educational services | |
| Reality Lanka Limited | 92.24% | 110 | Property investment |
| Domus Lanka (Private) Limited | 100% | Dormant |
Source: Annual Report, 2022/23 (pp. 24, 187)[1]