The company distributed over Rs 6 crore in bonuses to nearly 4,000 workers in FY 2081/82, supported by a sharp rise in profit and improved financial performance.
Reliance Spinning Mills Limited, widely recognized as a worker-friendly industrial company, has distributed more than Rs 6 crore in bonuses to its employees in the fiscal year 2081/82. Over its three-decade operational history, the company has maintained industrial stability without facing labor strikes, protests, or major employee dissatisfaction, strengthening its reputation as a labor-friendly enterprise.
According to the company, employees received bonuses equivalent to 69 days of salary, totaling Rs 6 crore 2 lakh 47 thousand 963. In the previous fiscal year 2080/81, the company had distributed only Rs 1 crore 1 lakh 8 thousand 316 as bonuses. Based on this comparison, employee bonus distribution increased by nearly 500 percent year-on-year, reflecting significant improvement in the company’s financial capacity and operational performance.
During fiscal year 2081/82, the company spent Rs 11 crore 60 lakh 33 thousand 198 on employee remuneration, approximately Rs 55 lakh 80 thousand more than the previous year. Reliance Spinning Mills currently employs around 4,000 workers, including nearly 1,300 female employees. The company has established various employee welfare facilities within its industrial premises, including breastfeeding rooms for female workers, a day-care center for children, education arrangements for employees’ children up to Grade 12, labor colony housing, sports grounds, a cafeteria, ambulance services, and access to medical professionals.
Financially, the company reported strong growth during the last fiscal year, posting a net profit of Rs 47 crore 58 lakh compared to Rs 5 crore 3 lakh in fiscal year 2080/81. This indicates an approximate 845 percent increase in net profit year-on-year. Following the recent completion of its IPO issuance and listing in the securities market, the company reported revenue of Rs 4 arba 79 crore and a net profit of Rs 13 crore 74 lakh until the second quarter of the current fiscal year. The company’s networth per share has reached Rs 490.54.
Established in 2054 B.S., Reliance Spinning Mills operates under the Golyan Group and produces cotton, polyester, viscose, acrylic, and textured yarn. Its products are used domestically and exported to countries including India and Turkey, with annual exports estimated at around USD 5 crore. The company is currently led by Akshay Golyan, representing the third generation of leadership within the Golyan Group. Initially operating with a capacity of 9,000 spindles, the industry has expanded to a capacity of 1,02,824 spindles and currently runs two yarn manufacturing plants located in Khanar and Duhabi.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
