Teejay Lanka PLC’s ‘Interknitted’ Annual Report Clinches Dual Honors at CMA Excellence in Integrated Reporting Awards 2023

Teejay Lanka PLC, established in 2000, and along with Teejay Lanka Prints and Teejay India, stands as a seasoned provider of weft knit fabrics globally, encompassing a vision to be the preferred fabric solutions supplier for branded clothing, aiming for a valuation of USD 300 million by 2024-25. With strategic operations in Sri Lanka and India, their global footprint extends to key markets like Africa, the Dominican Republic, Bangladesh, and Indonesia, catering to premium brands in Europe, Japan, and the USA. 

The company’s growth strategies are marked by a commitment to sustainability, innovation, and customer-centric values such as integrity and collaboration. Their robust ESG framework drives digital transformation and operational excellence, focusing on product segments ranging from cotton blends to advanced synthetics, expanding into intimate wear, sleepwear, athleisure, and sportswear under the innovative INSCOPE brand. Teejay’s unwavering dedication to sustainability is evidenced through the Abhivarah 2030 initiative, aligned with the UN Sustainable Development Goals, emphasizing responsible discharge, resource consumption, and initiatives for a thriving planet, including substantial efforts in climate change management, water and energy efficiency, biodiversity preservation, and notable achievements like being a carbon-neutral company and participant in the UNGC.

A journey entrenched with success, Teejay Lanka PLC recently surpassed yet another milestone in its conquest towards operational excellence. The Group’s 2022-23 Annual Report, titled ‘Interknitted,’ achieved notable recognition by winning two awards at the CMA Excellence in Integrated Reporting Awards 2023, awarded by the Institute of Certified Management Accountants of Sri Lanka (CMA). The accolades included the ‘Best Annual Report in the Apparel Sector’ and one of the ten Certificates of Merit from the national professional management accounting institute.

Teejay Lanka PLC has achieved a remarkable milestone with its latest integrated report. This report, was the first report adapted to the GRI (Global Reporting Initiative) standard which signifies a significant step in Teejay’s ESG reporting journey, showcasing its commitment to transparent and comprehensive sustainability reporting practices.  These honors acknowledged Teejay’s exceptional disclosure of crucial information to stakeholders and adherence to both local and international financial reporting standards for financial and non-financial data. This 12th Integrated Annual Report by Teejay Lanka PLC presents a comprehensive overview of the company’s commitment to environmental stewardship, social responsibility, governance, risk management, and sustainability-driven innovation for the future. It effectively communicates the company’s approach to integrating corporate strategies while harmonizing the diverse interests of stakeholders. Teejay’s dedication to GRI reporting and the establishment of a robust ESG framework demonstrates the company’s devotion to sustainable business practices and long-term value creation.

Following the groundbreaking accomplishment of being ranked No 1 corporate entity among 100 public listed companies in Sri Lanka for Transparency in Corporate Reporting in the TRAC 2022 assessment carried out by Transparency International Sri Lanka (TISL), Teejay Lanka views this dual award as yet another affirmation of the company’s dedication to excellence in various aspects of business, including environmental impact, community involvement, societal responsibility, and global accountability. The award winning integrated annual report embodies the Group’s strategic focus, forward-thinking approach, commitment to value creation, and emphasis on transparent and comprehensive reporting. The report encapsulates the essence of the company’s notable journey over the past fiscal year.

The assessment criteria for the CMA awards regarding integrated reports rely on the principles and concepts described within the International Framework developed by the International Integrated Reporting Council (IIRC). These encompass aspects such as strategic direction and anticipation of the future, interlinking of information, creation of value, and the trustworthiness and comprehensiveness of the content.