Research & Analysis

Our Research

Fundamental analysis of Nepal's industries and companies. Each sector starts with an industry overview, followed by individual company deep-dives.

43 reports10 sectors32 companies

2 of 43 reports

Sector & Industry Reports

1 report

Sector Report

Nepal Alcohol & Spirits Industry — Sector Analysis

Carlsberg committed Rs 10 billion to Nepal in April 2026, alcohol excise revenue grew +26.64% year-on-year, and Jawalakhel Group quietly took 15% of Gorkha Brewery sixteen months after Carlsberg consolidated control. Yet the listed equity universe gives Nepali investors only two ways to play any of it. Most of the value in this industry is sitting in private hands.

May 9, 2026

Company Research

1 report

HDL16 min

Himalayan Distillery (NEPSE: HDL) — Investment Report

Himalayan Distillery is Nepal's first and only listed distillery, with a 30 KLPD ENA plant and flagship Golden Oak whisky. Its 40UP whisky market share fell from 80% to 66% over four years while five-year net sales grew at 0.1% CAGR — a core-share erosion story masked by a genuine margin step in FY2082/83.

Jul 25, 2026