June 30 2021

D.D. Atukorala – A diversified business group projecting a clear trajectory for growth

[email protected] aims to support mid-sized companies by offering business advisory solutions. As part of this goal, we are proud to have onboarded D.D. Atukorala Group (DDA) to our portfolio companies. DDA was among the 7 chosen candidates out of the 37 applicants that applied to join our platform in September 2020. We intend to contribute value to this esteemed group by conducting strategy audits to identify any gaps in their business processes and leverage our expertise to recommend solutions that would unleash them beyond boundaries. We are confident of the ground-breaking potential we can unlock in DDA through collaborative efforts.

A diversified group – DDA is a Kegalle-based group of companies with a presence in multiple business verticals including retail, foodservice, agriculture and entertainment.

  • Retail: The large, multi-storied retail center strategically located on the main Colombo-Kandy Road boasts a large product range of over 1 million SKUs—product categories include grocery, household essentials, furniture & home décor, educational items, toys, apparel, and hardware. The company also maintains their own warehouse adjacent to the retail center, with a ~15K square foot storage capacity.
  • Food service: The neighboring bakery production and sales center provides significant competitive advantage for the business, as they possess in house facilities to manufacture, package, store and distribute large quantities of bakery products across their eight bakery and restaurant outlets in the Kegalle district.
  • Agriculture: The three rubber estates—which function as model estates under the advice of the Rubber Research Institute of Sri Lanka (RRISL)—have a combined land extent of over 100 acres and produces high quality rubber latex for their buyers.
  • Entertainment: The two fully air-conditioned, stadium style cinema halls equipped with a 7.1 Dolby digital surround system have a combined seating capacity of ~600 and are the first and only cinemas in the Kegalle district with a 2K 3D projection system

 

An evolutionary journey – Established in 1926, as a bakery outlet in Kegalle by the late Mr. D. D. Atukorala, the company subsequently moved into the grocery trade in the Kegalle district, before expanding into rubber and tea verticals. In 1976 the company established their presence in the entertainment industry with the acquisition of Chaaya Cinema. Today DDA is a family-owned second-generation group of companies with a total workforce of ~450 employees. The business has transitioned into a leading retail player in the Kegalle district with a strong and historically acquired customer base.

Enriched leadership – The company is currently headed by Sarath Chandra Atukorala, son of the late founder D.D. Atukorala. In the more recent years, Sarath’s two sons and niece, namely Panduka, Kawshal, and Purni have taken a more active role in day-to-day operations and running of the business. Panduka Atukorala who holds a Master’s in Business Administration from the University of West London with a background in IT, is actively involved in the strategic planning and direction of the company. He takes on a hands-on role in investment projects, business expansion plans and oversees all aspects of investment planning, budgeting, allocation, and implementation, is keen on expanding the business reach into new markets and territories.

Growth Plans – Equipped with their expertise and many years of experience, DDA is now on track to expand the business further by enhancing reach across new markets and channels. With the upcoming development of a multi-storied retail center in Mawanella, revamping of the existing apparel showroom and steps taken to distribute packeted confectionary to other local retail outlets and supermarkets, DDA continues to strengthen their local operations and sees growth potential and untapped opportunities both locally and internationally. Working closely with the Sri [email protected] team, DDA is looking at avenues to strengthen their presence in existing business verticals and broaden their revenue streams through geographical expansion, with the end goal of making DDA a nationally and regionally recognized brand.

 

[email protected] is a visionary and timely initiative to uplift the SME sector in Sri Lanka by providing effective business advisory services. With our experience in retail and baked goods manufacturing, we are excited to partner with [email protected] to strengthen our core business processes ensuring a solid foundation to launch our medium and long-term growth plans. We are extremely happy with the professionalism and competency of the [email protected] team and look forward to partner with the platform to achieve our long-term goals.” – Panduka Atukorala, Director