KATHMANDU: Riddhi Siddhi Cement Industries generated Rs 3.89 billion in operating revenue during the first nine months of the current fiscal year, according to the latest report released by Infomerics Credit Rating Nepal Ltd.

For the full fiscal year 2024/25 (2081/82 BS), the company recorded operating revenue of Rs 5.98 billion, up from Rs 5.81 billion in the previous fiscal year. Its revenue stood at Rs 5.47 billion in FY 2022/23 and Rs 6.48 billion in FY 2021/22.

The company manufactures Ordinary Portland Cement (OPC) and Portland Pozzolana Cement (PPC) under the Riddhi Siddhi and Makwanpur brands from its production facility in Ratomate, Hetauda.

Riddhi Siddhi Cement has an annual grinding capacity of 0.73 million metric tonnes and clinker production capacity of 0.84 million metric tonnes. The company also owns limestone mines, providing a stable supply of key raw materials for cement production.

During the last fiscal year, the company reported an operating profit of Rs 1.25 billion, while net profit reached Rs 82 million. Gross cash accruals stood at Rs 499 million.

In the first nine months of the current fiscal year, the company posted an operating profit of Rs 738 million, net profit of Rs 20 million, and gross cash accruals of Rs 313 million.

Infomerics has reaffirmed the company’s ‘IRN BBB-’ long-term credit rating and ‘IRN A-3’ short-term rating, citing its established market presence, integrated limestone mining operations, and the business network of Shanker Group and Ambe Group as key strengths.

According to the rating agency, Nepal currently has around 60 cement plants and 20 clinker factories, making the cement industry increasingly competitive while continuing to expand production capacity across the country.