23 Dec., Kathmandu : The 19th Annual General Meeting of Himalayan Distilleries Ltd. (HDL), held in Birgunj on 17th December 2019, chaired by Mr. Akhileshwor Prasad Singh has approved a final dividend of 102.63% (cash dividend of 52.63% plus bonus shares of 50%) for the financial year ended 16th July 2019. With the interim dividend of 68.42% declared earlier, the total dividend for FY 2018-19 of 171.05% is the highest dividend declared by any publicly listed company in Nepal, other than that of a multinational.
HDL is the leading alco-beverages company in Nepal established 19 years ago with state-of-the-art technology and world-class blenders with a family blending legacy of more than 50 years. It’s popular brand, Golden Oak, is the only high quality liquor brand in Nepal to have sold more than 1 million cases per annum. HDL provides direct employment to more than 300 people at its factory. It has also installed power co-generation and best-in-class effluent treatment systems.
HDL clocked Operating Revenue of Rs. 6288 million in FY 2018-19, a growth of 23% over the previous year. Likewise, Net Profit for the year increased by 82.65 % to Rs. 537 million. The company’s CAGR of Operating Revenue and Net Profit over the last 5 year’s are 15.87% and 45.90 %, respectively.
Sashin Joshi, Group Executive Director of Jawalakhel Group of Industries, which manages HDL, has attributed this significant improvement in performance to the use of new technology, productivity improvement, efficient cost management and targeted market expansion. Mr. Joshi also mentioned that HDL is one of the highest contributors to government revenue among manufacturing companies, with total tax paid in FY 2018-19 of Rs. 4388 million (including Excise Duty, VAT, Income Tax, Import Duty and Tax on Salary).