Summary
LOLC Holdings PLC is a Sri Lankan conglomerate listed on the Colombo Stock Exchange (CSE). Originally starting as a non-banking financial company LOLC has grown into one of the largest Sri Lankan conglomerates involved in many sectors and subsidiaries in several countries although it is still mainly involved in the financial sector.
 Logo of LOLC Holdings PLC | |
| Company type | Public |
|---|---|
| CSE: LOLC.N0000 | |
| ISIN | LK0113N00007 |
| Industry | Conglomerate |
| Founded | 1980 |
| Headquarters | , Sri Lanka |
Key people |
|
| Products | Financial services, Agriculture and Plantation, Leisure, Renewable energy, Construction, Manufacturing, Trading |
| Brands | LOLC, Browns |
| Revenue |  LKR333.122 billion (2023) |
 LKR21.911 billion (2023) | |
| LKR21.671 billion (2023) | |
| Total assets | LKR1.566 trillion (2023) |
| Total equity | LKR433.974 billion (2023) |
| Owners |
|
Number of employees | 583 (2023) |
| Subsidiaries | |
| Website | lolc |
| Footnotes / references [1] | |
History edit
LOLC was originally founded as Lanka ORIX Leasing Company (LOLC) which then grew into the LOLC Group. As diversification and growth continued LOLC became a holding company.[2]
By 2019/20 LOLC was among the most profitable companies in Sri Lanka but adopted a strategy of aggressive expansion without paying dividends to fuel overseas expansion in Cambodia, Myanmar, Pakistan, Philippines, Indonesia, Nigeria and Zambia.[3][4]
In January 2021 the market capitalization of LOLC Holdings exceeded $1Billion.[5]
LOLC using its Browns Investments PLC also became the partner of China Harbour Engineering Company Limited for the development of the Colombo International Financial Center Mixed Development Project. Becoming the first major local investor in the megaproject. [6]
Subsidiaries edit
LOLC Holdings includes numerous subsidiaries in various sectors and companies with significant ownership by LOLC. These include,[7]
Financial edit
- Seylan Bank
- LOLC Finance
- LOLC Development Finance
- LOLC Securities
- LOLC Life Assurance
- LOLC General Insurance
- LOLC Factors
- LOLC Securities
- LOLC Capital One
- LOLC Investments
- LOLC Motors
- Commercial Leasing and Finance
- PRASAC Micro Finance Institution
- LOLC Cambodia
- LOLC Myanmar Micro-finance
- LOLC Al-Falaah
- LOLC Fleet Management
- Sarana Sumut Ventura
- LOLC Finance Zambia
- Fina Trust Microfinance Bank
- Pak Oman Microfinance Bank Ltd
Agriculture edit
- Browns Agriculture
- AgStar
- Maturata Plantations
- Gal Oya Plantations
Leisure edit
- Browns Hotels and Resorts
- Excel Restaurants Pvt Ltd
Energy edit
- Sagasolar Power
- Sunbird Bioenergy Sierra Leone
Construction edit
- Browns Engineering and Construction
- Sierra Construction
Information Technology edit
- LOLC Technologies
Manufacturing edit
- LOLC Advanced Technologies
- Ceylon Graphene Technologies
Finances edit
| Year | Gross income LKR (mns) | Operating income LKR (mns) | Profit LKR (mns) | Assets LKR (mns) | No. of branches |
|---|---|---|---|---|---|
| 2022 | 224,100 | 57,183 | 77,596 | 1,371,469 | 133 |
| 2021 | 160,482 | 11,840 | 53,233 | 874,944 | 107 |
| 2020 | 130,442 | (3,623) | 812 | 1,335,919 | 103 |
| 2019 | 124,314 | 8,441 | 5,933 | 1,043,747 | 103 |
| 2018 | 149,516 | 22,829 | 19,190 | 822,239 | 100 |
| 2017 | 91,715 | 9,957 | 20,921 | 640,925 | 99 |
| 2016 | 66,765 | 8,713 | 9,331 | 379,595 | 89 |
| 2015 | 44,586 | 5,551 | 6,299 | 244,917 | 85 |
| 2014 | 40,205 | 2,408 | 3,069 | 167,175 | 87 |
| 2013 | 42,391 | 1,959 | 2,552 | 162,982 | 80 |
Source: Annual Report, 2021/22 (pp. 314–315)[1]
References edit
- ^ a b "Annual Report 2022/23" (PDF). cse.lk. LOLC Holdings PLC. 2023. Retrieved 6 September 2023.
- ^ "LOLC | History". lolc.com. Retrieved 2021-01-30.
- ^ Nadeera, Dilshan. "LOLC paid no dividends for past several years to fund overseas expansion: Ishara". Retrieved 2021-02-03.
- ^ "LOLC CONCLUDES US$ 603 MN SALE OF PRASAC AMIDST TURBULENT GLOBAL ECONOMIC CONDITIONS". Daily News. Retrieved 2021-02-03.
- ^ Nadeera, Dilshan. "LOLC Holdings, third $1 billion company at CSE". Retrieved 2021-01-30.
- ^ Sirimane, Shirajiv. "Port City to bring economic benefits for entire country'". Daily News. Retrieved 2021-05-22.
- ^ "Annual Report 2019/20" (PDF). Retrieved 28 January 2021.