Reliance Spinning Mills Distributes Rs 60 Million in Employee Bonus

Reliance Spinning Mills Limited (RSML), known for its “worker-friendly” industrial environment, has distributed over Rs 60 million as bonuses to its employees for the fiscal year 2081/82 (2024/25).

According to the company, employees received a bonus equivalent to 69 days’ wages amounting to Rs 6,02,47,963 in the last fiscal year. With an increase in net profit, the company raised the employee bonus by nearly 500 percent compared to the previous year. The annual financial report shows that bonus distributed in the fiscal year 2080/81 (2023/24) stood at Rs 1,01,08,316. During 2081/82, the company spent Rs 11,60,33,198 on employee salaries, an increase of Rs 55,80,914 than the previous year.

RSML employs  approximately 4,000 employees, including around 1,300 women. The industrial complex provides several welfare facilities such as a breastfeeding room for women, a daycare center for children, and education up to grade 12 for employees’ children. The premises also include a well-equipped labor colony, playground, modern canteen, ambulance, and expert doctor services.

The company has maintained a consistent profit track record.

In the last fiscal year, RSML earned a net profit of Rs 47,58,11,979, a sharp rise of Rs 5,03,83,793 in the previous year, a 845 percent rise. The company’s total profit also increased 42 percent compared to the previous year. According to the annual financial report, the total profit for the FY 2081/82 was Rs 1,48,93,00,000, up from Rs 86,50,00,000 in the previous year.

In the second quarter of the current fiscal year, it earned 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 also increased to Rs 490.54.

Just a month ago, the company completed its IPO process and got listed on the stock market.

Established in 2054 BS (1997/98 AD), RSML is part of the Golyan Group in Nepal. The industry produces cotton, polyester, viscose, acrylic, and textured yarn. Its products are consumed domestically and exported to countries like India and Turkey, with annual exports valued at around 5 million USD.

The company is currently led by Akshay Golyan, the third-generation representative of the Golyan Group. The industry has successfully established a distinguished identity in the international market. Starting with a capacity of 9,000 spindles, RSML now operates with an installed capacity of 1,12,824 spindles. The company has two yarn factories located in Khanar and Duhabi, Sunsari.