Kalika Refinery has earned around Rs 3.41 billion in just 10 months by trading sunflower, soybean, and mustard oil. This income was recorded in the first 10 months of the fiscal year 2024/25.
The company is located in Gaindakot, Chitwan. It was established in 2019 and started full operations in June 2021. The refinery is jointly owned by Deepak Prasad Sapkota, Madan Sapkota, and Kusum Kandel Sapkota. All three have nearly 30 years of experience in mustard oil production and processing.
The company has a daily production capacity of 100 tons. In previous years, it earned Rs 2.09 billion in fiscal year 2024, Rs 2.60 billion in 2023, Rs 2.81 billion in 2022, and Rs 440 million in 2021. Kalika sells its products under the brands “Bela,” “Ambe,” and “Agro Gold.”
In the same period, the company’s working capital intensity dropped to 12 percent in the first 10 months of FY 2025, down from 22 percent in the same period last year. This shows that the company has improved its daily operations and reduced costs while maintaining high earnings.
Kalika Refinery has also received credit ratings from ICRA Nepal. For long-term loans, it was rated “LB,” which indicates a high risk in repaying debt. For short-term loans, it got an “F4” rating, which also shows low safety and high risk. However, the “LB” rating is an improvement from its previous “LB Minus” rating.
The rating agency said the company’s improved working capital was the main reason for the better rating. It also noted that Kalika’s export to India has increased. In the first 10 months of FY 2025, 44 percent of the company’s total income came from exporting edible oil to India.
