Kathmandu: Two major companies under the ownership of prominent businessman Shekhar Golchha have reported a significant surge in business volume during the first nine months of the current fiscal year, surpassing their total performance from the previous year. Comparative data reveals that the combined turnover of these two entities under the Golchha Group grew by 4.57 percent during this nine-month period compared to the entirety of the last fiscal year.
The group’s primary ventures, Hansraj Hulaschand & Company and Hulas Auto Craft, collectively generated a turnover of Rs 24.795 billion in the last fiscal year. However, within just the first nine months of the current fiscal year, their combined revenue has already climbed to Rs 25.985 billion. Individually, Hansraj Hulaschand recorded a turnover of Rs 16.46 billion in these nine months, up from Rs 15.667 billion last year, while Hulas Auto Craft saw its business grow to Rs 9.524 billion from the previous year’s Rs 9.128 billion.
Hansraj Hulaschand & Company Private Limited, established in 1959, has shown a revenue increase of approximately one billion rupees during this period. The company, which serves as the authorized distributor for Bajaj and KTM motorcycles, Triumph bikes, and Servo lubricants in Nepal, reported a 40 percent growth in business during these nine months. Despite distributing interim dividends equivalent to 186 percent and 78 percent of net profits over the past two years, the company has managed to maintain a stable debt ratio.
The company’s financial indicators suggest an improved debt-servicing capacity, largely driven by increased sales volume and declining interest rates. Its interest coverage ratio improved to 4x in the first nine months of the current fiscal year, up from 3x during the same period last year. However, despite the growth in volume, the operating profit margin saw a slight contraction, dropping to 4.2 percent from 5.7 percent a year earlier. The company continues to operate through a massive network of 300 sales outlets, service centers, and regional dealers across the country.
Ownership of Hansraj Hulaschand is distributed among 19 members of the Golchha family, with Shekhar Golchha holding a majority stake of 53.8 percent. To support its extensive operations, the company recently underwent credit rating for loan facilities totaling Rs 6.217 billion, which includes Rs 287 million in long-term loans and Rs 5.93 billion in short-term credit lines.
Meanwhile, Hulas Auto Craft Private Limited, established in 2013 as a subsidiary of Hansraj Hulaschand, functions as the dedicated assembly plant for Bajaj two-wheelers and three-wheelers. Operating out of Ramgram in Nawalparasi, the company has seen its turnover rise by 39 percent during the current nine-month period. Notably, the company’s operating profit margin improved slightly to 6.9 percent, and its debt service coverage ratio rose to 3.3x, indicating a healthy financial position compared to the 2.8x recorded last year.
Having started its assembly operations for two-wheelers in 2018 and three-wheelers in 2019, Hulas Auto Craft is now looking toward the future of mobility. The company has finalized plans to establish an assembly plant for the recently launched Chetak brand of electric scooters. While the Pulsar brand remains the primary driver of its current revenue, the shift toward electric vehicles marks a strategic expansion. This company, owned 80 percent by Shekhar Golchha and 20 percent by Akash Golchha, has sought credit ratings for total loan facilities of Rs 3.938 billion to fund its ongoing and future projects.
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