Kathmandu. Hulas Steel Industries has a turnover of around Rs 13.75 billion during the year. The company’s business has increased by Rs 2.20 crore in a year.

In the last fiscal year, the company had a turnover of Rs 12.73 billion. This is an increase of Rs 22 crore compared to the previous fiscal year 2080÷081. The company had posted a turnover of Rs 12.71 billion in the review period.

Founded as a private company in 1981 and converted into a public company in 2006, Hulas is still a leading name in steel production. Currently, about 50 percent ownership of the company is held by Charlie Development Company Limited. The rest of the ownership is with the members of the Golchha family.

Mrs. Jayashree Golchha of the Golchha family owns about 21 percent of the company. Himanshu Golchha owns 6 percent of the shares. Hitesh Golchha owns 6 percent and Hulas Metal Craft owns 6 percent. The company is also associated with other related organizations.

Hulas Steels is a secondary steel producer. The company manufactures galvanized, colored and corrugated steel sheets, pipes, aluminum structures, welded structures and pipe fittings. The company imports hot-rolled (HR) steel sheets from India’s primary steel industries as the main raw material. These are processed at the company’s cold-rolling mill to make cold-rolled (CR) seats.

The annual production capacity of Hulas is about 481,762 metric tons. Out of this, about 50,000 metric tons of pipe (both black and galvanized), 394,700 metric tons of sheet (plain, GP, GCI) and the rest are aluminum and welded structures.

The operating profit ratio of the company was 19.5 percent in 2021. In 2025, it will fall to 9.3 percent. Hulas borrowed 1.4 times its capital in 2020. But in 2025, it has dropped to just 0.4 times. In 2020, the company’s external liabilities were 1.7 times its own capital, but it has now dropped to 0.6 times.

ICRA Nepal upgraded its long-term debt rating to a higher level. The company’s short-term debt rating has been maintained during this period. Currently, the company’s long-term loan limit is set at Rs 1.37 billion and the short-term loan limit is Rs 8.28 billion.

The total loan amount has now reached Rs 9.65 billion. According to the assessment, Hulas’ financial soundness, managed management, stable market presence and consistent business performance have aided in the improvement of its long-term debt rating.