‘Sales of Mangalam Pipes shoots up by 206 percent’

NL Today

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Kathmandu: The sales of Mangalam Pipes have increased by 206 percent, the company said in a statement.

The company which has been largely affected by the pandemic in 2020, rebounded by 2021. According to the report of ICRA Nepal, a rating agency, Mangalam Industries had a turnover of Rs 1.5 billion in 2021.

The company has a turnover of about Rs 591 million in the first seven months of 2022. Mangalam Industries had a turnover of Rs 370 million in 2018 and Rs 510 million in 2019. Compared to 2019, the company’s turnover fell by 36 percent in 2020 due to the pandemic.

Managing Director Abhinav Churiwal said, “The trade, which had been slowed down by the pandemic for two consecutive years, has started to pick up its pace again with the epidemic coming to an end. In that context, our sales have increased by 206 percent.”

“Our sales have also increased as construction business activities are returning to normal. All these because of the quality of our products and the unwavering trust of consumers in them and the dedication and hard work of our employees towards the company.”