Kathmandu —
RReliance Spinning Mills Limited, a company under the Golyan Group, has distributed Rs 570 million in cash dividends for fiscal year 2025/26, equivalent to 30 percent of its paid-up capital.
The company’s annual general meeting (AGM), held in Kathmandu on Thursday, approved the board of directors’ proposal for dividend distribution. The company has a paid-up capital of Rs 1.9 billion. The dividend amount includes applicable taxes as prescribed by law.
The AGM also approved the board’s annual report and audited financial statements for fiscal year 2025/26.
Reliance Spinning Mills is one of Nepal’s major export-oriented industrial enterprises and a significant source of employment. The company was listed on the Nepal Stock Exchange (NEPSE) during the last fiscal year.
The AGM also approved a major business expansion plan, including amendments to the company’s memorandum of association to facilitate the establishment of technologically advanced industries and the production of various types of fibres.
Under the revised provisions, the company plans to produce yarn from natural fibres such as allo (Himalayan nettle), hemp and banana. Its proposed activities also include manufacturing various types of fabrics and garments, as well as dyeing fibres, yarn and fabrics.
The expansion plan aims to add value to traditional and locally available natural resources through modern technology. The company’s proposed entry into fabric and garment manufacturing is expected to diversify its business and expand its industrial operations.
The AGM also approved changes to the company’s board structure. Under the revised arrangement, the six-member board will comprise four representatives from the promoter shareholders’ group, one representative from the general shareholders’ group and one independent director.
Pawan Kumar Golyan, Shashi Kant Agrawal, Akshay Golyan and Kiran Devi Agrawal were unanimously elected as directors representing the promoter shareholders. Basanta Nahata was elected unopposed as the representative of general shareholders.
The AGM also approved the appointment of Senior Advocate Harish Chandra Subedi as the company’s independent director.
