August 9: Surya Nepal, a cigarette and incense manufacturing company, made an operating profit of Rs 125 billion in five years. According to the rating company Care Ratings, Surya Nepal made an operational profit of Rs 24.47 billion in 2020, Rs 24.49 billion in 2021 and Rs 27.1 billion in 2022.

Despite the increase in tax on tobacco products, the company sold cigarettes worth Rs 26.98 billion in the fiscal year 2022 as it introduced new brands of cigarettes in the market. The company declared a dividend of Rs 10.40 billion that year. The company has a short-term loan of Rs 5.75 billion. Care Ratings has given 'A One Plus' rating to the loan of the company.

Share structure of the company

Established in 1986, ITC Limited has the largest share of 59 percent in this company. The market capitalization of India-based ITC Limited is USD 58 billion as of March 2023. Founded in 1910, the company manufactures cigarettes, branded packaged foods, education and stationery. The company also has investments in agricultural business and information technology. Nepali individual and institutional investors own 39 percent and British American Tobacco (Investment) Limited holds the remaining 2 percent shares.

Company products

The company produces cigarettes, match sticks, incense sticks and confectionery, while it has also invested in the hotel business. A five-star hotel is under construction on 72 ropanis of land belonging to the company in Budhanilkantha, Kathmandu.

According to consumer taste and preference, the company has been producing and selling cigarettes under the brands like Surya Legend, Surya 24 Karat, Surya Luxury Kings, Shikhar Filter Kings, Shikhar Ice Juice, Naulo, Khukuri Filter, Pilot Filter, Bijuli and Chautari. The company has more than 100 distributors across the country.

Sanjeev Puri is the chairman of the company, who is also the chairman and managing director of ITC Limited. Meanwhile, managing director of Surya Nepal is Ravi K Raivaram.

At the top of the highest tax paying company

According to the Inland Revenue Department, the government collected excise duty worth Rs 92.66 billion from cigarettes and bidi in 5 years. Ever since the department started honoring big tax payers, Surya Nepal has been in the list of companies paying the highest income tax.

The department has been honoring big tax payers every year since the year 2069 BS. Surya Nepal has been among the companies that pay more income tax every year since the fiscal year (FY) 2068/69.