What Teejay Lanka does

Teejay Lanka PLC is a Sri Lanka-headquartered, publicly listed textile manufacturer (Colombo Stock Exchange ticker TJL, listed 9 August 2011) specialising in weft knitted fabrics for global apparel brands. Originally incorporated on 12 July 2000 as Textured Jersey Lanka Limited, the company rebranded to Teejay Lanka PLC on 15 September 2016 and now operates dual-country manufacturing in Avissawella, Sri Lanka, and Visakhapatnam, India, through wholly owned subsidiaries Teejay Lanka Prints (Private) Limited, Teejay India (Private) Limited, and the holding entity Teejay Mauritius (Private) Limited. Teejay claims to be the first in the Sri Lankan textile industry to develop green fabric, and operates under ISO 9001:2015, ISO 14001:2015, and OHSAS 18001:2007 certifications, with GRI-Standards sustainability reporting assured by Ernst & Young.

The company's core technology is weft knit fabric manufacturing supported by integrated dyeing, finishing, and scalloping operations; lace processing was added in 2019 through a partnership with Luen Fung Textiles of China-Hong Kong, under which Teejay finishes raw lace at its India facility. Manufacturing in India is co-located inside the Brandix India Apparel City (BIAC), a 1,000-acre integrated apparel hub in Andhra Pradesh, with proximity to Vizag Port enabling 11-21 day lead times for global brands. Teejay's energy transition programme (Abhivarah 2030) commits USD 5.22 million to a 7.2 MW rooftop solar installation and a coal-to-biomass fuel switch, targeting a 49% facility-level GHG reduction, 42% renewable energy increase, and 25-30% fuel cost reduction, aligned with a Science Based Targets initiative (SBTi) 42% Scope 1 and 2 reduction by 2030.

Teejay generates revenue primarily through one-time B2B contract sales of weft knit fabrics directly to global apparel brands, with sales denominated substantially in USD and financials prepared using USD as the functional currency. The go-to-market is enterprise field sales to named customers including Target, Walmart, Hanes, JC Penny, Kmart, Lidl, Maidenform, Fruit of the Loom, Vanity Fair, Pacific Brands, and Bonds — most of whom source through the Luen Fung Textiles channel. Revenue grew 10.4% to LKR 67 billion (~USD 220M) in FY2024/25 from LKR 61 billion in FY2023/24, with gross profit margin expanding from 8.3% to 11.7% and debt-to-equity improving to 19% from 24%. Ownership is anchored by Brandix Lanka (33%) and Pacific Textiles of Hong Kong (28%), with public float at approximately 39.66%.

Name

Teejay Lanka

Legal name

Teejay Lanka PLC

Website

https://teejay.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Teejay Lanka PLC is a publicly listed Sri Lankan textile manufacturer that produces weft knitted fabrics and lace-finishing services from dual-country facilities in Sri Lanka and India, supplying global apparel brands including Walmart, Target, Hanes, and Lidl.

Ownership category

akta.pro rank

Product category

Knit Fabric Manufacturing

NAICS

Knit Fabric Mills (31324)

SIC

Knitting Mills (2250)

akta.pro primary industry

Knitted Fabric Mills (IMAOABAB)

akta.pro secondary industry

Knitted Fabrics (CRAAAMAC)

Keywords

• Weft knit fabrics
• Textile manufacturing
• Knit fabric supplier
• Fabric dyeing finishing
• Apparel fabric production

Headquarters

HQ city

Avissawella

HQ country

Sri Lanka

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Infrastructure, Technology or R&D

Revenue model

1. Weft Knit Fabric Manufacturing and Sales: Core revenue is generated through the manufacture and sale of weft knit fabrics to international apparel brands. Revenue recognition occurs upon delivery of products and customer acceptance. The company operates at optimal capacity to drive economies of scale, with operations in Sri Lanka and India. Financial statements are prepared in USD as the functional currency, reflecting the primarily USD-denominated sales transactions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Teejay Lanka PLC manufactures and sells weft knitted fabrics to global apparel brands from facilities in Sri Lanka and India. The company offers an integrated production portfolio spanning knitting, dyeing, finishing, printing, and scalloping operations, supplemented by lace processing through its partnership with Luen Fung Textiles. Revenue is generated primarily through direct enterprise contracts with international apparel retailers and brands.

Product overview

Teejay Lanka PLC operates as a textile manufacturing company offering a portfolio of weft knit fabric products and services. The core product is weft knit fabrics manufactured in Sri Lanka and India. The company has expanded into lace manufacturing through a partnership with Luen Fung Textiles, offering dyeing, finishing, and scalloping services. Teejay Prints handles printing and finishing operations, while Teejay India operates manufacturing facilities in Andhra Pradesh. The company also developed what it claims as the industry's first green fabric.

Differentiator

Problem solved

Functional benefit

Products and services

• Weft Knit Fabrics Primary product of Teejay Lanka; high-quality weft knit fabrics manufactured in Sri Lanka and India and supplied to international apparel brands for use across intimate wear, activewear, casual wear, and fashion segments.
• Lace Manufacturing and Processing Dyeing, finishing, and scalloping services for raw lace material supplied by Luen Fung Textiles, expanding Teejay's product portfolio beyond core weft knit fabrics.
• Teejay Prints Printing and finishing operations for knit fabrics, conducted through wholly-owned subsidiary Teejay Lanka Prints (Private) Limited at the Seethawaka Export Processing Zone, Avissawella, Sri Lanka.
• Green Fabric Environmentally sustainable knit fabric developed by Teejay Lanka, recognized as the first green fabric in the Sri Lankan textile industry, designed to meet global apparel brand ESG requirements.

Quantifiable outcome

• 49% reduction in facility-level greenhouse gas emissions from energy transition projects (solar + biomass)
• +6 more outcomes

Named customers11 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Luen Fung Textiles (LFT)coreStrategic or Co-development Partner · 29 October 2019Teejay Lanka signed an MoU with Luen Fung Textiles (LFT) of China-Hong Kong to venture into lace manufacturing. LFT, founded in 2006, specializes in R&D, manufacturing, and distribution of lace and related products. Teejay commenced dyeing, finishing, and scalloping of raw lace material supplied by LFT at its Teejay India facilities. The partnership enables Teejay to expand its product portfolio and customer base, with LFT designing and supplying lace as raw material to Teejay for finishing and sale to customers.
• H.E.R FoundationminorStrategic or Co-development PartnerThe H.E.R Foundation, powered by Fems, partnered with Teejay Lanka to coordinate a menstrual health and hygiene education programme at Ruwanwella Royal College in Sri Lanka. Teejay fully funded the development of new washroom facilities while the H.E.R Foundation conducted education sessions for approximately 400 students and parents. The initiative spans several schools across Sri Lanka and aims to address schoolgirl absenteeism and break menstrual health taboos.
• Brandix India Apparel City (BIAC)coreStrategic or Co-development PartnerBIAC is a 1,000-acre vertically integrated apparel manufacturing hub in Achuthapuram, Andhra Pradesh, India. Teejay India operates within this ecosystem alongside other curated suppliers including Vardhman Yarn and Thread (A&E), Pioneer Elastics, Ribest Ribbons, and S&S Industries. The co-located supplier ecosystem enables lead times of 11-21 days for brands and proximity to Vizag Port for efficient global shipping. The park employs over 100,000 people with a target of net-zero emissions at all Brandix factories by 2040.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Texhong Textile Group: Texhong is a Hong Kong-listed vertically integrated textile manufacturer producing knitted and woven fabrics for global apparel brands, with multi-country manufacturing in China, Vietnam, and elsewhere. Comparable to Teejay in product category, B2B channel, and cross-border manufacturing footprint.
• Pacific Textiles Holdings: Pacific Textiles is a Hong Kong-listed knit fabric manufacturer and Teejay's 27.16% shareholder. It operates a similar weft knit fabric manufacturing model serving global apparel brands, making it the closest direct peer for product, customer base, and capital structure comparison.
• Mas Holdings: Mas Holdings is a Sri Lankan apparel and intimate apparel manufacturer supplying global brands including Victoria's Secret and Nike. It is a regional direct competitor for fabric and finished knit apparel volumes into the same Western intimate and activewear customers as Teejay.
• Eclat Textile Co. Eclat Textile is a Taiwan-listed manufacturer of knit fabrics and athletic/apparel fabrics supplying global brands. Its B2B model, focus on performance and lifestyle knits, and brand-direct customer mix closely mirror Teejay's positioning with Western apparel labels.

Others

• Brandix Lanka: Brandix is Teejay's largest shareholder (~32.5%) and Sri Lanka's largest apparel exporter, operating the Brandix India Apparel City (BIAC) ecosystem where Teejay India is co-located. Not a direct competitor on fabric but the strategic partner that anchors Teejay's India footprint and backer of record.

Broad incumbents

• Shenzhou International Group: Shenzhou is a Hong Kong-listed knit garment manufacturer and the largest player in Nike/Uniqlo supplier chains. Although it operates further downstream (cut-and-sew knitwear) than Teejay, it competes for the same global apparel brand wallet and capacity share, making it a relevant broader incumbent benchmark.

Regional players

• Square Textiles: Square Textiles is a Bangladesh-listed knit fabric and yarn manufacturer with spinning, knitting, dyeing, and finishing operations. Comparable to Teejay in product mix (knit fabrics) and B2B apparel brand customer base, though operating primarily in a different geographic manufacturing hub.
• Epyllion Group: Epyllion is a Bangladesh-based vertically integrated knit fabric and garment manufacturer supplying global apparel brands. It is a comparable South Asian knit mill operating at similar scale and customer mix but in a different national jurisdiction.
• Hirdaramani Group: Hirdaramani is a Sri Lanka-based apparel and fabric manufacturer with operations across South Asia and East Africa. Comparable to Teejay as a regional knit fabric/apparel competitor serving global apparel brands from a South Asian manufacturing base.

Emerging players

• K.G. Fabriken: K.G. Fabriken is a Sri Lanka-based knit fabric manufacturer specializing in circular knit fabrics for apparel brands. It is a smaller, emerging regional peer in the same product category and customer segment as Teejay, useful for benchmarking margin and capacity at smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights8 records

Customer concentration

• Facebookfacebook.com/Teejay-Group-1150122035102197
• LinkedInlinkedin.com/company/teejay-lanka-plc

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Teejay Lanka