Kathmandu. Kiran Shoes Manufacturers Pvt Ltd’s business has fallen in the last six months of the current fiscal year. The company, which deals in Goldstar shoes, has done business worth Rs 796 million in the six months of the current fiscal year.

The company had a turnover of Rs 2.22 billion in 2024. However, the company’s business has decreased in the current fiscal year. Similarly, the company had a turnover of Rs 2.15 billion in 2023 and Rs 2.42 billion in 2022.

Goldstar is the major export market in India. After India made bis certificate mandatory, the company’s export had to be temporarily banned for about 3-4 months. As a result, the company’s business has shrunk.

During this period, the company’s operating profit (EBITDA margin) has improved. The company’s margin stood at 22.44 percent in the six months of the current fiscal year. The operating profit in 2024 was 22.10 percent. Similarly, it was 12.48 per cent in 2022 and 18.99 per cent in 2023.

The company has been manufacturing and selling various types of shoes in the market since the 1970s. The company produces 16.65 million pairs of shoes annually. The company is manufacturing from three locations. According to the company, the company has been manufacturing slippers from factories, Balaju and Bhairahawa. But in the last four years, on an average, only 29 percent of the shoe production capacity has been used.

Amir Pratap Jung Bahadur Rana owns 28 per cent stake in the company. The company is led by Executive Director Bidushi Rana. The company has a rating of Rs 4 billion for long-term and short-term loans. Rating agency Infomerics Credit Rating Nepal has given ‘IRN BB-÷FO’ rating to the company’s debt. This rating indicates that the company’s ability to repay long-term and short-term debt is weak and risky.