© MC Group, 2024

© MC Group, 2024

History

Our rich history is a reminder to us of the places we have been, the lessons we have learned and of the immense responsibility we have towards upholding this legacy. Conducting business with integrity and seeing business as a tool for economic progress of the communities we work in, is not just part of our history, but firmly a part of our DNA.

Established in 1904, MC Group has a long and deep history of doing business in Nepal. Starting off at the beginning of the 20th century as a trading house dealing in textiles and spices in Nepal, over the past six decades MC Group has evolved into a conglomerate encompassing various manufacturing, trading and business interests across international markets. The expansion of MC Group’s activities was started by Late Chairman Shri Madan Lal Agrawal and his brothers Late Shri Gopi Krishna Agrawal and our Chairman Shri Chiranjilal Agrawal. Shri Madan Lal Agrawal was one of Nepal’s most prominent and reputed industrialist. For his service to the country he was conferred Nepal’s highest civilian award-“Suprasidha Prabal Gorkha Dakshin Bahu” (Class First) and shortly after his death the Nepalese Government issued a postage stamp in his honor, making him the first industrialist in Nepal to receive this unprecedented distinction. The abbreviation of the company (MC) is derived from the names of our Late Chairman Shri Madan Lal and our current chairman Shri Chiranji Lal.

TIMELINE

MC Group has been a pioneering business house in the country, boasting of many firsts in Nepal, including the first civil aviation company, first beer bottling plant, first marble mining and processing unit, first yarn spinning and knitwear manufacturers and the first bottlers of Pepsi in Nepal.

1904

1904

Start of the MC Group story. Firm founded under the name of “Dedraj-Motilall”

spices

1910s

Trading of spices between India and Nepal

textiles

1920s

Shift towards textile trading

1950s

Delving into construction. Significant projects include construction of Koshi Dam and of Gurkha Camp (BP Institute of Health today) in Dharan

1950s

First civil aviation company in domestic and international routes even before the inception of Royal Nepal Airlines (Indo-Nepal Airways)

1968

Production of stainless steel (Arunodaya Udyog)

1970

First beer bottling plant (Nepal Brewery Company, Star Beer)

1972

Establishment of Jute Press unit (Mechi Jute Press Udyog)

1977

First marble mining and processing unit (Godawari Marble Industries)

1977

First yarn spinning & knitwear manufacturing industry (Rajkamal, Todilon and Interknit Industries)

1986

First Bottlers of PepsiCo, Inc. (Pepsi Cola)

1994

Super Lamicoats production facilities setup to provide flexible packaging solutions

hanuman

1996

Started manufacturing of metal sheets, circles and utensils under Hanuman Metals

1996

Promoters of SICL, established as a joint venture with Ceylinco (Sri Lanka). SICL is Nepal’s second largest insurance company by premium collection

2002

Diversifying into finance with promoter investments in Siddhartha Bank Limited, Nepal’s third largest private bank by net worth per share

2006

Promoters of non-life (general) insurance company Siddhartha Insurance Limited, Nepal’s third largest insurance company by premium collection

2012

Promoters of Siddhartha Capital Limited, one of the first investment banking company of Nepal. Its product included the country’s first mutual funds offering

2017

Promoter shareholders of Reliance Life Insurance, a public company providing life insurance to Nepali citizens