“In addition they are also looking at opening Health Guard pharmacy outlets in South Asian countries, Sunshine Holdings Group Managing Director, Vish Govindasamy said.
Speaking to ‘Daily News business,’ he said that they are very keen to expand their power sector and will build two more hydro power plants, investing Rs. 600 million. Currently we have a plant that generates 1.8 mega watts and we want to add 5.8 megawatts by the end of year.”
“Our main focus will be on the dairy sector where we hope to invest around Rs. 2 billion. This includes increasing our herd of milch cows from 200 to 1,000 and we will buy cows from Australia.”
“The government is keen to make the dairy industry self sufficient and we want to support this by investing in the dairy sector.”
He said the diversified conglomerate Sunshine Holdings, which started as a pharmacy in Gampola in 1967, is now seriously looking at producing genetic medical equipment locally. “We are ready for this and have an investment in the excess of Rs. 500. However we need proper regulation form the government as we plan to manufacture and export since volumes here are not economically viable.” He said that they are also expanding their Health Guard Pharmacies and want to add 50 more by end of 2015. The investment for this expansion would be Rs. 150 million.
Healthcare, accounted for 37.2 percent of the group’s turnover for the period, posted strong revenue growth at 10.2 percent YoY to Rs. 6.1 billion.
The company which diversified to the tea plantation sector is one of the few companies to make profits. “We also invest around Rs. 200 million annually for the Agribusiness sector.”
The company posted a consolidated revenue of Rs. 16.3 billion in FY15, an improvement of 11.1 percent year-on-year.
Sunshine Holdings will go for a listing soon.
Courtesy: Daily News 27 May 2015