Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: Reliance Spinning Mills Ltd., Nepal’s leading and largest yarn exporting industry, has reported a significant surge in profits, earning a total net profit of NPR 1.48 billion in the fiscal year 2081/82, according to its newly released annual financial report. This marks an increase of NPR 615 million compared to the previous fiscal year, when the company had earned NPR 865 million in total profit.
The financial statements released on Monday show that Reliance Spinning Mills recorded a total trade volume of NPR 10.23 billion in FY 2081/82, up from NPR 9.20 billion in FY 2080/81, reflecting strong sales performance and improved operational efficiency across key indicators.
Established in 1997 (2054 B.S.), Reliance Spinning Mills is Nepal’s largest spinning industry, producing cotton, polyester, viscose, acrylic, and textured yarn. Its products are not only consumed domestically but are also exported to India, Turkey and other countries, generating around USD 50 million in exports annually.
The mill started with a spindle capacity of 9,000 units and has now grown to a total installed capacity of 102,824 spindles. The company operates two major yarn factories in Khanar and Duhabi of Sunsari district, employing around 4,000 workers, including 1,300 women, contributing to local employment and industrial growth.
Under the leadership of young entrepreneur Akshay Golyan, Reliance Spinning Mills has successfully established a distinct presence both in the domestic and international market. Recognizing the company’s significant contribution to Nepal’s industry and national economy, the Government of Nepal honored Golyan with the title of Commercially Important Person (CIP) in Asar last year.
Reliance Spinning Mills, managed under the Golyan Group, is regarded as a model export-oriented manufacturing enterprise in Nepal and its continued growth is seen as a positive sign for Nepal’s industrial sector amid broader economic challenges.
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