LMD Readers’
MOST LOVED BRANDS
Q: What are the key factors contributing to the success of Central Industries in the manufacturing and marketing of its products under various brand names?
A: One of the key factors contributing to Central Industries’ success is the earned trust of our customers accumulated over the years, particularly in the corporate market segment. This has served as a solid foundation for our journey spanning decades.
Our success can also be attributed to the differentiation strategies implemented across a range of products. From the inception of our organisation, we maintained a relentless focus on quality.
Notably, Central Industries was the first in Sri Lanka to obtain the Sri Lanka Standards (SLS) certification for uPVC pipes in 1987 and uPVC fittings in 1996. Additionally, our human capital comprising skilled individuals played a crucial role in our journey.
Q: Describe Central Industries’ brand history and its progression over the past year…
A: Central Industries is a respected manufacturing business known for offering high quality and reliable products, thereby creating significant shareholder value. After almost four decades of existence, Central Industries boasts trusted brands in the water management and electrical sectors.
Our commitment to best management practices has contributed significantly to the Sri Lankan economy. This includes job creation, both directly and indirectly, through local manufacturing, which saves foreign exchange.
Furthermore, Central Industries set industry standards, evidenced by being the first PVC manufacturing entity to obtain the SLS certification for uPVC pipes and fittings, which marked a pivotal milestone in our quest to be the preferred choice of discerning customers in the construction industry.
Key milestones in our brand history include the introduction of the Krypton range of switches in 2004, and the launch of HDPE pipes and fittings in 2016, both of which have been success stories in our journey. Our HDPE products are SLS certified and bear the Water Regulations Approval Scheme (UK) certification.
Additionally, Central Industries is a pre-qualified supplier for the National Water Supply and Drainage Board (NWSDB).
In 2017, we expanded our product line with the introduction of the Krypton Pioneer wide dolly series, available in three different colours.
Over the past 12 months, Central Industries navigated the business landscape with caution, adapting to market dynamics. The construction industry experienced a slowdown due to the adverse effects of the economic crisis, compounded by increased taxes, particularly VAT.
High inflation further impacted construction activities. However, positive developments such as reduced interest rates, stabilised exchange rates and the Purchasing Managers’ Index (PMI) exceeding the neutral threshold after two years gradually spurred construction activities, albeit at a slower pace in recent months.
Q: How is Sri Lanka’s economic outlook impacting branding and brands?
A: The economic crisis exerted significant pressure on businesses, resulting in a decline in the value of Sri Lankan brands. According to a 2023 report by Brand Finance Sri Lanka, there was a 16 percent decrease in the aggregate value of the top 100 Sri Lankan brands compared to the previous year.
High inflation and reduced disposable income have compelled Sri Lankans to curtail their spending, leading to decreased financial support for brands, thereby affecting their sales and overall growth.
While some Sri Lankan brands have demonstrated resilience during the crisis, navigating these challenges was paramount.
However, the stability of the economy and political landscape remain crucial factors. With 2024 being an election year, the business environment is likely to experience a mix of situations influenced by socio political dynamics.
Q: How can awards and accolades strengthen a corporate’s reputation as a trustworthy brand?
A: Awards serve as validations of our achievements, particularly when conferred by reputable organisations or institutes.
Our recent accolades include receiving the National Business Excellence Award in the gold category for the construction sector in 2021 from the National Chamber of Commerce of Sri Lanka (NCCSL), as well as winning the Ceylon National Chamber of Industries (CNCI) Top Ten Award in the extra-large category of the manufacturing sector for 2022, along with a National Level Merit Award for the same year.
These accomplishments significantly bolster our corporate reputation as a trustworthy and distinguished brand.
Telephone: 7421421 | Email:info@nationalpvc.com | Websites: www.kryptonelectric.com, www.nationalpvc.com