Nepal Breaking NewsBusinessHetauda Cement Industry Limited is in a huge financial loss

Hetauda Cement Industry Limited is in a huge financial loss

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Due to the unfavorable circumstances following , Hetauda Cement Industry Limited, which operates under complete government and is in Hetauda, may have to incur a significant financial loss.

In the fiscal year 2020/21, the industry is expected to lose Rs 250 , to preliminary estimates. The industry has previously experienced a financial loss of roughly Rs 250 million in the fiscal year 2019/20.

Ram Babu , the Industry’s Officiating Manager (Finance), stated that the Industry has been suffering a tremendous financial loss due to a lack of cement production and sale due to the negative condition following COVID-19 for the last two fiscal years.

Even in its peak season, the industry must face financial losses due to production and sales. The main selling season for cement is April through July, which lasts four months. It has suffered significant financial losses in many fiscal years, with the exception of a few, due to a variety of factors.

Prem Shankar , the industry’s general manager, explained that the enormous financial loss is due to antiquated machinery and a failure to compete with private cement businesses.

The industry generates roughly Rs 2 in revenue each year, but its expenses exceed the revenue. It has been discovered that it spends the most money on salaries, raw material management, and repair and maintenance.

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