Management Control Systems (MCS) are important tools supporting organization, organizational learning, and innovation, as the premise of management control is to ensure the attainment of organizational objectives. The Sri Lankan manufacturing sector is the largest contributor to the industry sector which in turn is the second largest contributor to the country’s GDP, has continuously shown improved financial results. This study focuses on the impact of MCS on the normalized profits of manufacturing companies in Sri Lanka. A structured questionnaire was developed and sent to a sample population of 152 manufacturing companies in Sri Lanka. 95% or 144 of the companies responded to the questionnaire. Structured interviews were conducted with selected personnel in these 144 organizations to ensure proper completion of questionnaire and to authenticate the information provided. Based on analysis of data it was found that there is a strong relationship between MCS and the normalized profits of manufacturing companies in Sri Lanka.