In an environment where Sri Lankan manufacturers are increasingly strengthening their presence on the global stage, Sierra Cables PLC stands out as a compelling example of strategic transformation and export-led growth. At the centre of this progress is Harsha Jayatunga, whose appointment as Executive Director and Chief Executive Officer marks an important milestone in the company’s journey.

Since joining Sierra Cables in 2019 and assuming the role of Chief Executive Officer in 2020, Mr Jayatunga has guided the organisation through a period of strong financial performance, operational strengthening, and international market expansion. With over two decades of cross-sector leadership experience, he has played a pivotal role in enhancing Sierra Cables’ global credibility and industry standing.

Under Mr. Jayatunga’s strategic leadership, the company grew its annual turnover from LKR four billion to LKR nine billion throughout the past years, achieving profits of over LKR one billion by the 2024/25 financial year, positioning the business for sustained
future growth. Global CEO Magazine recently interviewed Mr Jayatunga to gain deeper insights into the leadership philosophy, strategic priorities, and growth agenda shaping the company’s next phase.

Q: Sierra Cables recorded strong revenue and profit growth in the first half of the financial year. What was the single most important driver behind this performance?

The performance in the first half reflects a convergence of strategic clarity and disciplined execution. Revenue expanded by approximately eighty per cent to reach LKR 7.51 billion. EBIT almost doubled, moving from Rs. 839 million to Rs. 1.7 billion, which is a 97% year-on-year increase. Profit after tax also recorded 130% growth, reaching Rs. 1.4 billion, compared to Rs. 596 million in the same period last year.

This momentum was driven primarily by a deliberate shift towards export-oriented growth, which helped diversify revenue streams and reduce over-reliance on domestic demand.
At the same time, early signs of recovery in Sri Lanka’s construction sector supported local volumes, while rising global demand for wires and cables strengthened export orders. Operational discipline played a critical role, particularly in raw material procurement and production planning. These factors together enabled Sierra Cables to scale rapidly while maintaining control over costs and quality, translating growth into strong bottom line performance.

Q: Margins improved despite volatile raw material prices. How did you protect profitability in such a challenging cost environment?

Protecting profitability in a volatile cost environment required a combination of discipline, foresight, and operational efficiency. The company focused heavily on cost management and working capital optimisation, ensuring that inventory levels and cash cycles were tightly controlled.

Production efficiency was continuously improved by reducing wastage across the value chain and strengthening process discipline on the factory floor. Strategic procurement planning helped mitigate the impact of raw material price fluctuations by securing supply at favourable terms wherever possible.

Equally important was the focus on value added and certified products. By emphasising quality and compliance driven offerings, Sierra Cables retained pricing power in both local and export markets, allowing margins to remain resilient even under cost pressure.

Q: Exports are now a key growth pillar for Sierra. Which international market is showing the strongest momentum and why?

Globally, demand for cables is rising due to power grid expansion, renewable energy projects, data centres, and electric mobility, and we are positioning Sierra Cables to capture these opportunities.

The United States is currently demonstrating the strongest export momentum for Sierra Cables. This is largely due to the company being the only Sri Lankan cable manufacturer certified under the UL44 standard, which is a prerequisite for supplying thermoset insulated building wires and cables to the United States market.

This certification enables compliance with the stringent requirements of the US National Electrical Code, covering insulation performance, heat resistance, flame resistance, and long term reliability. As a result, Sierra has gained access to a premium and high demand market that places strong emphasis on safety and quality: reinforcing its reputation for world-class quality and compliance.

Beyond the United States, the company has significantly expanded its footprint across South Asia, the Pacific region, Africa, Eastern Europe, and parts of Asia. Momentum across these regions is driven by international trust in Sierra’s certified manufacturing processes, adaptability to market specific standards, and the ability to consistently deliver high quality products.

Q: You are Sri Lanka’s only UL44 certified cable supplier to the U.S. How does this differentiate Sierra on the global stage?

There are many players around the world manufacturing cables under the UL 44 standard. Sierra is competing under the UL 44 standard with manufacturers from Turkey, Malaysia, South Korea and India, to establish a presence in the US cable market. Sierra is leading among its competitors in product and service quality, lead time, and pricing, enabling it to secure a share of the US cable market.

Being the sole Sri Lankan manufacturer with UL44 certification, positions Sierra Cables as a clear industry leader. It signals production excellence, technical capability, and a high level of trust among international customers.

UL44 certification allows Sierra to supply thermoset-insulated wires and cables that meet rigorous safety, heat, flame, and insulation standards demanded by the United States market. This distinction elevates the company’s global standing and opens access to premium export opportunities that are otherwise inaccessible.

More broadly, it strengthens Sierra’s credibility across international markets, reinforcing the perception of Sri Lanka as a source for world class manufacturing rather than commodity supply alone.

Q: Fitch reaffirmed your A + national rating with a stable outlook. What does this signal to investors and business partners?

The reaffirmation of the A+ national rating reflects Sierra Cables’ financial strength, operational resilience, and consistency in performance. It signals to investors and business partners that the company is stable, well governed, and capable of navigating challenging economic conditions.

Maintaining this rating over multiple years has enabled access to funding on favourable terms, supporting continued investment in technology, quality enhancement, and capacity expansion. It also strengthens Sierra’s competitive position when bidding for large scale tenders and entering new export markets.

Overall, the rating reinforces stakeholder confidence and underlines the company’s long term sustainability and reliability as a business partner.

Q: From manufacturing excellence to talent development, what capability gives Sierra its strongest competitive edge today?

Sierra’s strongest competitive edge lies in its comprehensive quality and certification portfolio combined with operational excellence. The company operates under ISO certified processes and complies with a wide range of international and local standards including SLS, BS, IEC, UL, SANS, NFC, JIS, and AUS, NZS. Meeting stringent UL requirements for the U.S. market serves as a strong benchmark. If the Sierra Cables factory can meet these standards, the quality delivered to domestic and regional markets is naturally well above expectations. Product quality is further validated through independent testing by TÜV Singapore and the LCIE Testing Laboratory in France.

This global compliance framework supports export readiness and enables seamless entry into diverse international markets. Innovation and product adaptability also play a critical role, with extensive ranges in fire retardant, fire retardant low smoke, low smoke halogen free, and fire resistant cables, supported by advanced in-house laboratory capabilities. On the factory floor, quality is enforced through a combination of advanced manufacturing equipment and strong people practices, with every batch undergoing rigorous in-process and final testing, including electrical, mechanical, and fire-performance tests before leaving the factory. In addition to in-house type testing, results are periodically validated through international third-party laboratories, while engineering and quality teams remain fully aligned with evolving regulatory requirements across all regions.

Equally important is the company’s skilled workforce and disciplined execution culture, which ensures consistency, efficiency, and reliability across operations. This end-to-end quality discipline gives customers confidence that whether a cable is installed in a housing project in Sri Lanka, a data centre in the U.S., or an infrastructure project in the Pacific, it meets the same high standards of safety, reliability, and global compliance. Sustainability initiatives such as rooftop solar generation, rainwater harvesting, Green SL certification, and recognition at the Presidential Environment Awards further strengthen Sierra’s long term competitive positioning.

Q: What is the top priority that will define Sierra Cables’ next growth phase?

The next phase of growth will be defined by global expansion and deeper penetration into key export markets, particularly the United States, South Asia, Africa, and Oceania. These regions offer strong infrastructure demand and long term growth potential. Sierra Cables plans to secure certification under an additional UL standard next financial year, enhancing its product portfolio for the US cable market and expanding its customer base.
Innovation and product development will remain central, with a focus on specialised solutions for fire-rated applications, renewable energy, and energy infrastructure. At the same time, technology adoption and digitalisation will enhance production efficiency, scalability, and decision making across the organisation.

Sustainability will continue to be embedded into operations through renewable energy adoption and environmentally responsible practices. Finally, strategic diversification into related and selected non-related product categories will strengthen resilience and reinforce Sierra Cables’ and, by default, Sri Lanka’s role within global supply chains.