Reliance Spinning Mills Limited (RSML), recognized for its “employee-friendly” industrial atmosphere, has allocated over Rs 60 million in bonuses to its workforce for the fiscal year 2081/82 (2024/25).
The company reports that workers received a bonus amounting to 69 days’ wages, totaling Rs 6,02,47,963 in the previous fiscal year. With a surge in net profits, RSML increased the employee bonus by nearly 500 percent compared to the prior year. The annual financial report indicates that the bonus granted in the fiscal year 2080/81 (2023/24) was Rs 1,01,08,316. During 2081/82, the company allocated Rs 11,60,33,198 on employee salaries, up by Rs 55,80,914 from the year before.
RSML employs around 4,000 individuals, which includes approximately 1,300 women. The industrial complex offers various welfare amenities such as a breastfeeding room for women, a daycare facility for children, and educational provisions up to grade 12 for employees’ children. The premises also feature a well-equipped labor colony, a playground, a modern canteen, an ambulance service, and access to expert medical professionals.
The company has consistently maintained a profitable trajectory.
In the last fiscal year, RSML generated a net profit of Rs 47,58,11,979, a considerable increase of Rs 5,03,83,793 from the previous year, marking an 845 percent rise. The total profit also experienced a 42 percent increase year-on-year. As per the annual financial report, the total profit for FY 2081/82 was Rs 1,48,93,00,000, compared to Rs 86,50,00,000 in the previous year.
In the second quarter of the current fiscal year, the company achieved a total revenue of Rs 4,79,02,91,63 and a net profit of Rs 13,74,35,414. The net worth per share saw an increase to Rs 490.54.
Just a month ago, the company finalized its IPO process and was successfully listed on the stock market.
Founded in 2054 BS (1997/98 AD), RSML belongs to the Golyan Group in Nepal. The industry specializes in producing cotton, polyester, viscose, acrylic, and textured yarn. Its products are utilized domestically and exported to nations like India and Turkey, with annual exports valued around 5 million USD.
Currently, the company is under the leadership of Akshay Golyan, the third-generation representative of the Golyan Group. The industry has effectively carved out a notable reputation in the international marketplace. Starting with a capacity of 9,000 spindles, RSML now operates with an impressive installed capacity of 1,12,824 spindles. The company has two yarn manufacturing plants located in Khanar and Duhabi, Sunsari.
