Who We Are
Balangoda Plantations PLC is a Sri Lanka-based company, which is engaged in the cultivation and manufacture of tea and rubber. The Company operates through the Tea and Rubber segments. The Company manufactures various grades of tea, including Balangoda, Meddakande, Non Pareil, Pettiagalla, Glen Alpin, Spring Valley, Telbedde and Wewesse Estates. The Company has approximately six tea estates, over 10 tea cum rubber estates and approximately four rubber estates in two districts: badulla and ratnapura. The Company’s cultivated land consists of approximately 4,204.15 hectares under tea and over 2,737.89 hectares under rubber. The Company’s parent company is Melstacorp Limited, which is a limited liability company.
Historical Background
The Company was originally incorporated as Balangoda Plantations Ltd on 11th June 1992 by Certificate of Incorporation issued in terms of Section 15 (1) of the Company’s Act No. 17 of 1982 read with Section 2 (2) of the Conversion of Public Corporation or Government owned Business Undertakings into Public Company’s Act. No.23 of 1987 and the order published in the Gazette Extra Ordinary of the Democratic Socialist Republic of Sri Lanka dated 11th June 1992. The Company was thereafter reregistered under the Company’s Act No.07 of 2007 as Company No. PQ 165 and a fresh certificate of incorporation issued under the provision of Section 485 (6) of the Company’s Act No.7 of 2007 with the Corporate name changed by operation of law to Balangoda Plantations PLC.
The first tranche of 51% of the issued share capital of the Company was sold by the Secretary to the Treasury through the Colombo Stock Exchange on an “all or nothing” basis and was purchased by Distilleries Company of Sri Lanka Limited (DCSL). The convertible Debentures held by Milford Exports (Ceylon) Limited were converted into 3,636,363 shares.
As per decision of the Government 10% of the Shares of the Company belonging to the Secretary to the Treasury on behalf of the Government were distributed among the eligible employees of the Company.
20% of the Shares of the Company belonging to the Secretary to the Treasury on behalf of the Government were sold to the public through the Colombo Stock Exchange and the balance 19% of the shares belonging to the Secretary to the Treasury were also sold on an “all or nothing” basis through the Colombo Stock Exchange.
Our Vision
To achieve excellence in the production & marketing of tea and rubber both locally and internationally.
Our Mission
- To increase productivity.
- To encourage team work and motivation amongst the employees and provide for career development.
- To generate adequate return on capital.
- To achieve excellence in every sphere of activity towards becoming a model in the Private Sector corporate entity.