August 23: The business of multinational company Surya Nepal Pvt Ltd is increasing every year. The annual turnover of company in 2021 was about Rs 24.5 billion. The company, which has a large share in the cigarette trade of Nepal, did business worth Rs 24 billion 493 million during the review year.

The company has a unique identity in the business world of Nepal. It did business worth Rs 24.47 billion in 2020 and Rs 25.13 billion in 2019.

According to the rating agency Care Rating Nepal, Surya Nepal earned a net profit of Rs 9.41 billion in 2021 and Rs 9.55 billion in 2020.

The company produces Surya brand cigarettes, matchsticks, incense sticks and chocolates. Currently, the company produces Surya Legend, Surya 24 Karat, Surya Luxury, Shikhar Filter Kings, Khukuri Filter, Pilot Filter, Electric Filter, and Chautari brand cigarettes.

Sanjeev Puri, is the chairman of the company which is doing the most business among FMCG in Nepal. He is also the chairman of the Indian company ITC India Limited. ITC, which is run through joint investment of foreign and local businessmen of India, has 59 percent share in Surya Nepal, while 39 percent stakes are owned by Nepali companies and investors and 2 percent by British American Tobacco (Investment) Limited UK. Surya Nepal, which was established in 1986, has been among the top taxpayers of Nepal.

Surya Nepal has managed to remain in the top-ten list of taxpayers for a long. Care Rating has rated the company in A-One category.

Due to the lockdown imposed to contain the Covid-19 pandemic in the country and the increase in the price of raw materials, the company's business during that period was affected and the projected income shrunk.

Since Surya Nepal is not a public company, ordinary investors do not have any benefit or loss from its profit. However, the revenue received by the government, the employment created by the company and the contribution made to the Nepalese economy are important.

There are other companies operating in Nepal with domestic and foreign investment as well. However, others have not achieved as much success as Surya Nepal. Foreign direct investment in companies in Nepal has been giving good returns due to the excellence in business by those companies.

Lately, Surya Nepal is planning to invest in five-star hotels as part of its business expansion programme. The company has more than 100 distributors across the country. It has industries in Simra of Bara and Tanahun. The company is also involved in various social works under its corporate social responsibility as well.