Hetauda Cement Industry Incurs Loss Of Rs 25 Crores
July 8, 2021 | Investopaper
Hetauda Cement Industries Limited, Government-owned enterprise, has suffered a loss of Rs. 25 crores in the last fiscal year 2076/77 BS. The industry incurred huge financial losses due to the decline in cement production and sales in this period of COVID turmoil. In the current fiscal year 2077/78 as well, the company expects to lose Rs. 25 crores.
The industry generated an annual income of around Rs 2 Arba. However, the annual expenditure is more than the income. High staff expenses and raw material management has led to excess expenditure for the company.
The industry has incurred a loss of Rs. 16.65 crores in the fiscal year 2075/76, after it was shut down for a long time due to malfunction in the machine. However, in FY 2073/74 and 2074/75, the industry generated a profit of Rs. 15 crores and Rs 16 crores respectively.
Hetauda Cement Industry was established in Ashwin 13, 2033. It has a annual production capacity of 2.60 lakh metric tonnes of cement. The industry started commercial production from 2048 BS.
Established with the loan assistance of the Asian Development Bank, the industry is owned by the then Ministry of Finance, Ministry of Water Resources, Ministry of Industry, Department of Mines and various government agencies.
Hetauda Cement Industry has an area of about 101 bighas and an area of about 200 bighas with limestone quarries. There are limestone mines in Okhre, Bhaise, Majuwa and Jogmara of Dhading for the raw material of the industry.
The industry currently employs 285 permanent and about 100 salaried employees.
