Walton expands footprint in Sri Lanka

Walton Hi-Tech Industries has expanded its brand presence in Sri Lanka by launching retail outlets through its authorised distributor, Monik Trading Private Limited.

According to a disclosure on the Dhaka Stock Exchange (DSE) on Tuesday (13 May), Walton signed a 10-year Global Distributorship Agreement with Monik Trading in December last year. 

Under the agreement, Monik Trading will act as the exclusive distributor of Walton products – including refrigerators, air conditioners, televisions, and kitchen appliances – across the island nation.

Monik Trading has already opened outlets to retail Walton's home appliances. The outlets were inaugurated by Walton Managing Director SM Mahbubul Alam.

As per a report on the Daily Mirror, a Sri Lankan newspaper, Monik's Chief Financial Officer MNH Nashwaq said they plan to establish a joint venture with Walton in the future to manufacture these products locally in Sri Lanka.

Walton's manufacturing hub in Gazipur, Bangladesh, spans 5.88 million square feet, making it one of the largest in South Asia. The facility uses advanced, vertically integrated technology, and Walton holds key international certifications (CE, CB, UL, ISO), enabling exports to over 50 countries, including in the EU.

Monik Trading, part of Monik International, operates 15 branches in Sri Lanka and has interests in microfinance, furniture manufacturing, and bottled water – bringing diverse strengths to the partnership.

Meanwhile, on the DSE, Walton shares closed 0.19% lower at Tk412.70 on the day.

In the first nine months of FY25,Walton's revenue grew by 7% to Tk4,598 crore, but the net profit dropped by 9% to Tk696 crore. During the period, Walton earned Tk45.56 crore from export, which was 69% higher from the previous year at the same time.