Elpitiya Plantations PLC (EPP) is one of Sri Lanka’s most profitable and impactful Regional Plantation Companies (RPC) cultivating tea, rubber, oil palm and other crops in over 8,800 hectares across 13 estates. Bold and ambitious management interventions, following its privatisation in 1997 has enabled EPP to transform from a commodity-based business to a diversified, dynamic, and profitable business with strategic interests in non-traditional crops, renewable energy, speciality tea and others. The Group’s triple-bottom line approach to value creation and focus on embedding economic, social, and environmental aspirations to its overall business strategy has enhanced business resilience, enabling the Group to generate shared and sustainable value across its universe of diverse stakeholder. At the point of listing on the Colombo Stock Exchange in 1997, the debt-ridden EPP’s performance and financial position was extremely precarious, with accumulated losses amounting to Rs. 305 Mn and the Company being ranked 22nd amongst the 23 plantation companies. The financial and business profile inevitably made it unattractive to potential bidders and Aitken Spence Plantation Managements Limited (ASPM) emerged as the only bidder, with the Company being the last RPC to be privatized. Following its acquisition, ASPM made significant investments in stabilising EPP and ensuring its business and social sustainability for the future. A strategic and long-term agenda focusing on crop and business diversification, factory development, automation, digitalisation, and sustainability has driven complete transformation of the Group achieving not just its financial aspirations but creating sustainable value to its employees, estate communities and the country’s agriculture sector.
We will strive to be the No. 1 plantation company – A model for Sri Lanka