Long regarded as a barometer of the Sri Lankan economy, Hayleys PLC has moved beyond that role. The group is demonstrating the ability to grow and expand internationally despite domestic economic conditions, an outcome achieved by design. In many ways, Hayleys has outgrown the economy, expanding its global footprint and driving growth in the domestic economy in the spheres it represents.
For context, in August 2024, Fitch Ratings affirmed Hayleys’ National Long-Term Rating at ‘AAA(lka)’ with a Stable Outlook, citing its large operating scale, business diversification, and strong export earnings. Direct and indirect exports contribute 54% of Hayleys’ revenue, with only 30% coming from Europe and the US, indicating low exposure to slower-growth developed markets, the rating agency said. The group’s manufacturing footprint is diversified, with significant operations in Bangladesh, India, Thailand and Indonesia.
Over five decades, Mohan Pandithage has witnessed Hayleys’ journey through political upheavals, economic volatility, and global disruptions, expanding its presence across 16 sectors and shifting a majority of its revenue to international markets with a presence in 80 countries. In a country where uncertainty is a constant, as the Chairman and Chief Executive of Hayleys since 2009, Pandithage’s leadership is marked by resilience, discipline, and the ability to adapt without losing operational focus. Under his watch, Hayleys’ annual revenue has grown from Rs9 billion a decade ago to Rs437 billion in the 2023/24 financial year, with more than half of that from global markets. Some of its ventures are significant players in the local industries they represent, such as Hayleys Advantis in logistics and Hayleys Fentons in project engineering and renewable energy.
In this interview, Pandithage reflects on his early career and what it takes to build a conglomerate beyond borders.
How did your corporate journey begin, and what defining moments shaped your path to leadership?
My career at Hayleys began in 1969 as a Management Trainee. It was an exciting time, as Sri Lanka’s economy was evolving, and Hayleys was expanding its reach across multiple industries. From the very start, I was drawn to the dynamism and the responsibility that comes with steering a leading organization towards growth and progress. I knew that one day, I wanted to have the privilege of leading this fantastic organization.
My journey has been shaped by the people I have worked with, including mentors, colleagues, and the thousands of employees who contribute to Hayleys’ success every day. Leadership, to me, is about enabling people. That belief has only strengthened over time.
Several defining moments and lessons shaped my leadership trajectory. From the economic liberalization of Sri Lanka in 1977, which opened the country to global markets, to navigating Hayleys through the economic and political turbulence that Sri Lanka experienced in later decades, various periods in time have required businesses to pivot quickly, embrace competition, and expand beyond domestic shores. I realized the importance of agility and foresight in corporate leadership. Leading through uncertainty taught me the value of resilience, diversification, and strategic risk management, principles that continue to guide Hayleys today.
What was your vision when you took over at Hayleys, and how has that evolved?
When I took over as Chairman and Chief Executive, my vision was to transform Hayleys into the number one performing public listed corporate and a globally competitive, future-ready conglomerate, while strengthening its role as a driver of Sri Lanka’s economic progress. We have achieved this.
Over the years, this vision has evolved to reflect the demands of an increasingly digital, interconnected, and sustainability-conscious world. Today, our focus is not just on growth but on resilient, responsible, and technology-driven growth. We are investing in cutting-edge automation through our digital transformation drive, renewable energy solutions, and AI-driven efficiencies across our businesses, ensuring that Hayleys remains ahead of the curve in a rapidly changing global landscape.
How do you balance long-term strategy with the day-to-day realities of leading a diversified conglomerate?
Leading a conglomerate with 16 business sectors and a market presence in over 80 countries requires a delicate balance between big-picture thinking and operational discipline.
At Hayleys, we manage this by maintaining a dual-focus strategy: a long-term strategic roadmap that aligns with our growth aspirations, technological advancements and sustainability commitments, alongside a robust operational framework that ensures each sector meets its budgets and objectives while contributing to the overall vision.
To achieve this balance, we rely on strong leadership teams that drive execution while aligning with the group’s long-term vision. Data-driven decision-making allows us to assess global and local market trends with precision. Agility in execution ensures that we remain flexible and responsive to emerging opportunities and challenges.
How would you describe your leadership style, and how has it adapted to Hayleys’ transformation over time?
At Hayleys, our employees are our greatest asset: a mantra documented many decades ago that remains at our core today.
I believe in leading by example, fostering innovation and empowering people. Leadership is about enabling teams to excel, creating an environment where people feel motivated to contribute, and ensuring that our workforce remains aligned with our values and vision.
My leadership style has always been grounded in clarity, conviction, and the discipline of execution. I’ve been described as energetic, restless, and someone who doesn’t take no for an answer. These traits were instilled in me early in my career, shaped by the example of my mentor, the former Chairman Mr Lal Jayasundera, who believed deeply in pre-planning, preparation, and being proactive. Those principles have guided me throughout my journey and continue to define the way I lead Hayleys today.
I believe in moving swiftly, in identifying the path forward, coordinating across teams, and executing with purpose. When I joined the main Board of Hayleys in 1998, my approach was direct: underperforming units were redeployed or exited, while scalable, high-potential businesses were expanded. We brought promising subsidiaries closer to the Group, strengthened central functions and introduced a consistent brand identity to unify our diverse portfolio.
At the same time, I’ve always seen leadership as a people-first endeavour. Managing a conglomerate of this scale and complexity demands more than just strategy. It demands the right people in the right roles. That’s something I learned through experience, and it’s a trait I’ve consciously worked to develop. Building strong, agile teams has been central to Hayleys’ success, and I’ve always trusted my instincts when it comes to talent, a quality I owe in part to the influence of industry greats like Mr Bobbiese (George Bobbiese was a former Chairman) and Mr Jayasundera.
Much of my leadership style was shaped during my formative years at Hayleys Advantis. I loved the pace, the variety, and the challenge of winning over clients.
I remember one particular client who told me outright, “I will never give you the cargo.” But I kept going back many, many times and eventually, I won him over. That experience became one of the foundational stories I share with my teams. Sometimes, leadership is about persistence. You show up, consistently, and earn trust over time. And when you reach a goal, you don’t stop. You set your sights higher.
As Hayleys evolved, so too did my leadership. We encouraged innovation in our core export businesses, expanded capacity at Haycarb PLC and Dipped Products PLC, and regained control of our own marketing channels through acquisitions like ICO Guanti and Mabroc Teas. We also made bold bets to reduce our exposure to domestic volatility, such as entering the tourism sector. Each decision was part of a broader strategy to ensure Hayleys could thrive independently of local economic cycles.
Above all, I lead with the belief that strategy without execution is meaningless. At Hayleys, once we achieve a target, we never rest on our laurels. There’s always more to accomplish – new goals, new standards, and new possibilities to unlock.
That drive to push forward, to never settle, and to lead by example — that, I believe, is what defines both my leadership and the culture we’ve built at Hayleys.
Hayleys once described itself as the barometer of the Sri Lankan economy. How relevant is that positioning today?
That positioning is as relevant today as it was decades ago. Hayleys operates in key sectors that mirror and influence Sri Lanka’s economic trajectory – agriculture, manufacturing, logistics, renewable energy, and consumer solutions.
Hayleys is one of the country’s most socio-economically impactful organizations. The Group’s extensive business interests across 16 industry verticals, global market positions and unparalleled depth and breadth of relationships across Sri Lanka’s diverse supply chains have enabled it to drive inclusive progress over an illustrious history of nearly 150 years. As one of the country’s largest diversified conglomerates, our performance is both a reflection of the economic climate and a driver of resilience and growth.
While we are impacted by economic shifts, we are also instrumental in shaping outcomes, whether by supporting exports, investing in renewable energy, or creating jobs.
How has Hayleys insulated itself from local macroeconomic volatility to create value independently of domestic cycles?
The cornerstone of Hayleys’ resilience lies in our unwavering focus on diversification and globalization. Today, more than 54% of our revenue is generated from international markets, significantly reducing our dependence on domestic economic conditions. By maintaining a strong international footprint across multiple countries and regions, we’ve been able to spread our risk and tap into more stable, dollar-based revenue streams, even amidst local volatility.
Our presence across 16 diverse sectors allows us to absorb sector-specific shocks without compromising the Group’s overall performance. Beyond our portfolio spread, we have continuously invested in strengthening operational efficiencies, digitization, and cost optimization.
At the heart of our approach is a commitment to innovation, quality, and sustainability, which has helped us build enduring relationships with our customers, suppliers, and financial partners, relationships that prove invaluable in navigating uncertainty. Our investments in R&D, manufacturing excellence, and geographic expansion have also positioned us to seize new opportunities while mitigating risks.
Ultimately, what sets Hayleys apart is our ability to think globally while staying firmly rooted in local excellence. This dual focus has enabled us to chart our own path, create long-term stakeholder value, and remain resilient regardless of the economic cycles that surround us.
What structural or strategic shifts have enabled Hayleys to expand globally while maintaining its local impact?
Hayleys’ ability to expand globally while preserving a meaningful local footprint has been driven by a deliberate and multifaceted strategy. At the heart of this success are three key pillars: building world-class capabilities, pursuing targeted international investments, and reinforcing our deep-rooted commitment to Sri Lanka’s development.
A core structural shift has been the drive to elevate our operations across manufacturing, logistics, and agriculture to internationally benchmarked standards. We have invested heavily in customer-centric innovation and service excellence, ensuring that our products and solutions meet the evolving demands of both global and local markets. From premium-grade hand protection solutions to high-quality Ceylon tea exports, our focus has remained on pushing the boundaries of quality, performance, and relevance.
Our international expansion has been both strategic and selective.
We’ve pursued high-growth opportunities beyond Sri Lanka’s borders, from establishing a tea export arm in Mombasa, Kenya, to acquiring a stake of a leading FMCG distributor in Poland with access to European retail chains. These investments have not only helped diversify our revenue streams and customer segments, but have also reduced our exposure to country-specific risks, enabling us to stay agile in the face of global uncertainties.
At the same time, we have made bold moves on the local front. Strategic acquisitions such as Horana Plantations PLC have strengthened our operational capabilities, while enhancing our influence and impact within critical sectors of the Sri Lankan economy. Across all initiatives, we’ve adopted leaner, more agile ways of working, optimizing inventory management, streamlining operations, and improving cost efficiencies to ensure long-term sustainability.
ESG and Sustainability have become a structural imperative within the Group. We continue to integrate environmental and social responsibility into every aspect of our business. This ensures that as we grow globally, we also create lasting value for our diverse stakeholders, including society and the nation.
In essence, Hayleys’ global expansion is not a departure from its Sri Lankan roots, but a natural evolution that allows us to amplify our impact both here and abroad. As we scale new heights across the world, we remain steadfast in our commitment to uplifting communities, creating jobs, and contributing meaningfully to Sri Lanka’s economic progress, ensuring that our global success translates into local value creation.
Which sectors or markets within the group will be key growth drivers over the next five years?
Hayleys is strategically positioned to capitalize on emerging global and local opportunities, with several key sectors poised to drive growth over the next five years. These growth engines align closely with our long-term vision, ESG aspirations and global megatrends such as clean energy, sustainable consumption, and resilient supply chains.
A central pillar of our future growth strategy, renewable energy holds immense potential as Sri Lanka accelerates its clean energy transition. Our solar EPC business is scaling rapidly, particularly in the residential solar segment, where demand continues to surge. With over 300MW already delivered through Hayleys Solar, we are expanding capacity and diversifying our solutions portfolio to play a leading role in the nation’s energy transformation.
At Hayleys Fabric, innovation in eco-friendly textiles and circular fashion is opening new doors in international markets. Similarly, Haycarb’s activated carbon solutions, used in air purification, water treatment, and energy storage are seeing strong global demand, particularly in light of rising environmental regulations and decarbonization efforts.
With Sri Lanka’s strategic geographic location, we see strong long-term potential in positioning the country as a regional logistics hub. Advantis is spearheading this transformation, offering end-to-end integrated logistics and warehousing solutions that support regional trade flows. Infrastructure investments and digitalization will further enhance competitiveness in this space.
Our Consumer & Retail segment continues to deliver strong top-line growth and increased market penetration, driven by trusted global brands, a wide distribution network, and enhanced customer engagement. As household consumption rebounds and digital commerce gains traction, we expect this sector to play a significant role in future earnings growth.
We remain deeply committed to advancing Sri Lankan agriculture through technology, innovation, and capacity building. Recent geographical expansion and establishment of new facilities will enable us to better serve farmers and improve food security. Precision agriculture, digital tools, and sustainable input solutions will be key growth levers.
Our Hand Protection business is expanding its global reach, with a focus on penetrating niche markets in the Middle East and Africa, while also strengthening its presence across Europe. Customized, high-specification gloves tailored for industrial, medical, and specialty applications are gaining traction in these markets.
With Sri Lanka’s tourism sector showing signs of revival, our Leisure business is poised for a resurgence. We are actively enhancing our offerings to capture opportunities from high-value tourism, sustainable travel, and wellness experiences, contributing to both foreign exchange earnings and local community development.
What economic indicators do you pay the closest attention to when shaping Hayleys’ future?
At Hayleys, we take a comprehensive, forward-looking view when assessing economic indicators, balancing both global and local variables that have a direct bearing on our operations, investment priorities, and long-term resilience.
Given the export-oriented nature of many of our businesses, we closely monitor global trends, shifts in trade patterns, supply chain dynamics, foreign exchange volatility and geopolitical developments. These indicators influence demand across key sectors and help us navigate both risk and opportunity in our international markets.
While our global footprint has grown, we remain deeply rooted in Sri Lanka. As such, we monitor domestic macro variables including spending trends to guide our local business decisions, particularly in consumer & retail, agriculture, and construction-related sectors. Energy prices affect input costs across manufacturing, logistics, and agriculture.
Government policies on trade, investment, taxation, and sustainability have a material impact on our planning cycles. We remain engaged with policymakers and industry associations to align our business strategy with national development priorities.
Changes to the tax regime, particularly corporate income tax, VAT, and sector-specific levies, influence capital allocation and operational structure. We assess these closely to ensure compliance while seeking avenues to improve efficiency and competitiveness across the Group.
The outflow of skilled labour from Sri Lanka is a concern especially for sectors that rely on specialized knowledge, such as manufacturing, engineering, and IT. We monitor labour availability, wage trends, and productivity indicators to proactively invest in talent development and retention, while also leveraging our international presence to tap into global talent pools.
We place strong emphasis on tracking technological advancements, digital adoption, and R&D investment trends. These guide how we future-proof our businesses and enhance competitiveness across industries.
How are you preparing the next generation of leadership to carry Hayleys forward?
At Hayleys, leadership development is a strategic imperative. We are deeply invested in nurturing the next generation of leaders who can carry forward our legacy while navigating a complex, rapidly evolving global landscape.
Our leadership development framework is closely aligned with the company’s long-term strategic goals, particularly in the areas of technology adoption, sustainability, innovation, and global competitiveness. We are equipping future leaders to think beyond borders and embrace digital-first, future-ready mindsets. Our multi-pronged approach to leadership development combines structured mentorship, cross-sector exposure, and digital learning.
In addition, succession planning is embedded within our talent management processes. We are actively building leadership tiers and strengthening managerial capabilities to ensure continuity and stability across all sectors.
We recognize that strong leadership thrives in environments where people feel supported, empowered, and inspired. Robust employee engagement initiatives and policies create an inclusive and family-friendly workplace.
One of the key programmes driving this development is the Hayleys Management Trainee Programme, which serves as a critical incubator for the future leaders of our organization. This programme offers young, dynamic professionals the opportunity to gain exposure across multiple sectors, ensuring that they develop the diverse skill sets needed to potentially step into the role of CEO in the future. Every year, more and more top-tier graduates are eager to join this programme, making it one of the most sought-after leadership development opportunities in the country. By fostering an environment of hands-on learning, mentorship, and strategic project involvement, the programme prepares these trainees to take on leadership responsibilities with a comprehensive understanding of Hayleys’ business and its values.
Through these initiatives, we are building a resilient leadership pipeline that is aligned with the Hayleys values and ready to lead with purpose in an increasingly dynamic and interconnected world.
A decade from now, what do you envision for Hayleys?
Hayleys embodies Sri Lanka’s potential for resilience, innovation, and global excellence. We have proven that Sri Lankan businesses can compete on the world stage, pioneer sustainability, and drive economic transformation. Our journey is a testament to what the nation can achieve with the right vision, leadership, and commitment.
I envision Hayleys as a globally recognized leader in sustainable business, innovation, and industrial excellence, with an expanded international footprint and a strong legacy of positive impact. Our focus will remain on creating long-term value for shareholders, employees, business partners, customers and the communities we serve.