BPPL Holdings (via subsidiary Beira Brush) will acquire Ravi Industries' customer base, 'Ravi' trademark and related IP under a business transfer agreement with minimum consideration of Rs.300 million payable over five years linked to revenue. The company says the deal will create synergies and position Beira Brush among the largest industrial brushware manufacturers in Asia.
Exporters
Ada Derana·Jul 14, 2026·M&A / stake changePositive
BPPL Holdings' Beira Brush will acquire Ravi Industries' customer base and the 'Ravi' trademark under a business transfer agreement with a minimum five-year, performance-linked consideration of Rs. 300,000,000. Payments are annual and tied to revenue, and BPPL plans to integrate production to unlock synergies.
BPPL Holdings' subsidiary Beira Brush will acquire Ravi Industries' customer base and the 'Ravi' trademark for a minimum of Rs300mn, payable over five years and linked to revenue.
Colombo Stock Exchange ASPI fell 0.27% to 21,473.27 at midday, while the S&P SL20 was down 0.04% to 6,019.55. BPPL Holdings said subsidiary Beira Brush will acquire Ravi Industries' customer base and the "Ravi" trademark for a minimum 300 million rupees payable over five years tied to revenue.
BPPL Holdings PLC's subsidiary Eco Spindles launched the Green Wheels plastic collection project to collect and recycle 6,500 tonnes of plastic per year using a fleet of 50 locally manufactured electric bikes. The VERRA-certified initiative aims to boost community livelihoods, strengthen Eco Spindles' raw-material pipeline and bring verified foreign-currency crediting revenue.
The Finance Ministry’s special selection committee has appointed Thulci Aluwihare and Sharmini Ratwatte as Independent Non-Executive Directors to the Bank of Ceylon board. Aluwihare currently serves as a Non-Executive Independent Director at Abans Finance PLC; Ratwatte has held NED roles at Ceylon Cold Stores PLC and BPPL Holdings PLC.
EconomyNext·Sep 17, 2025·Management or board change
Thulci Aluwihare and Sharmini Ratwatte were appointed independent, non-executive directors to the board of Bank of Ceylon effective September 16, 2025. Aluwihare is currently a non-executive director at Abans Finance; Ratwatte has served on the boards of Ceylon Cold Stores, John Keells and BPPL.
Colombo market extended its positive streak to nine days as the ASPI rose about 34 points (0.17%) on turnover of Rs.5.28 billion. Key contributors included MELS, SEYB, CTC, ACL and SAMP; ACL rose Rs.6.50 while Access Engineering fell 30 cents, and foreigners were net sellers of Rs.36.2m.
Construction ActivityTourismTea & Plantation CropsConsumer Staples (FMCG)
Daily FT·Jul 3, 2025·Management or board changePositive
BPPL Holdings PLC has rotated its Independent Directors: Manjula De Silva, Sharmini Ratwatte and Savantha De Saram resigned effective 1 July 2025 after nine years, and Dinesh Dharmadasa, Natasha Boralessa and Mohamed Adamaly were appointed as Independent Non-Executive Directors. The new appointees bring experience in finance, sustainability, governance and law.
BPPL Holdings PLC appointed Dinesh Dharmadasa, Natasha Boralessa and Mohamed Adamaly as independent non-executive directors, replacing three directors who resigned after completing nine years of service effective 1 July 2025.
BPPL Holdings PLC appointed Muhammed Rizan Jiffrey as an Executive Non-Independent Director. He has over 33 years of experience, including senior roles with Goodhope Asia/Carson Cumberbatch and as Financial Controller of Kahawatte Plantations.
Sri Lanka plans to seek talks with the US to reduce a 44% tariff that would hit apparel exporters and could risk losing US orders; industry groups warn the levy could be devastating for price-competitive apparel firms and cost thousands of jobs.
BPPL Holdings PLC reported consolidated Q2 (to 30 Sep 2024) revenue of Rs.1.6bn, EBITDA of Rs.356m (+53% YoY) and net profit of Rs.184m (up 85% YoY; over 100% QoQ from a loss of Rs.19m).
ExportersRupee & ForexInterest Rates
Ada Derana·Nov 13, 2024·Earnings & resultsPositive
BPPL Holdings PLC reported consolidated net earnings of Rs. 184 million for the quarter ended 30 Sep 2024, up 85% year‑on‑year. Consolidated revenue was Rs. 1.6 billion (+5% YoY, +15% QoQ) and EBITDA was Rs. 356 million (+53% YoY; +104% QoQ), driven by higher brush and recycled polyester yarn sales and improved gross margins.
BPPL Holdings’ subsidiaries Eco Spindles and Beira Brush won Gold and Silver respectively at BestWeb.LK 2024 in the Manufacturing & Industrial category for their websites. The awards highlight BPPL’s focus on digital innovation and enhancing online customer engagement.