Kathmandu: Siddhivinayak Oil Pvt Ltd, the producer of Samriddhi brand edible oils, has reported a turnover of Rs 5.97 billion (approx. US$ 45 million) in the last fiscal year, marking a sharp rebound from previous years.
The company had posted Rs 5 billion in trade during the prior fiscal year.
In calendar year 2024, Siddhivinayak registered Rs 1.42 billion in sales, while in 2023 the figure stood at Rs 1.88 billion. Established in 2021, the company imports crude edible oil from various countries and processes it for domestic consumption and export.
Management credits India’s tariff policy on edible oils as a key driver of growth. With New Delhi raising customs duties on crude and refined oils in 2024, exports from Nepal surged, lifting Siddhivinayak’s turnover to record levels. The company said its trade nearly tripled in the last fiscal year.
The average sales price rose from Rs 157,288 per metric ton in 2024 to Rs 207,423 in 2025. After incurring losses in previous years, the firm achieved a 5 percent profit margin in the last fiscal year.
Siddhivinayak processes 36,064 metric tons of soybean, palm, and sunflower oil annually, all marketed under the Samriddhi brand across Nepal.
This marks the first profitable year for the company after nearly three years of continuous operations. About 94 percent of last year’s turnover came from raw material costs, according to its financial disclosures.
Siddhivinayak Oil is operated under the Goenka Group, chaired by Gopal Goenka, a veteran entrepreneur with over 35 years of experience spanning construction, finance, and trading.
The company has secured credit ratings for loans amounting to Rs 3.09 billion. Of this, Rs 376.3 million is allocated for long-term loans, while Rs 2.72 billion covers short-term borrowing.
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