When MaligramAgarwal started his business, his objective was to establish an international standard trading house. Thus, MS Group came into existence in 1970 and Maliram was its pioneer. The group established a textile mill in 1981 and an acrylic spinning mill in 1987. But it was in the post 90s diversification when the group charted new heights.
In the mid 90s, MS Group established Reliance Spinning Mill together with Golyan Group. Both the group’s investment in the spinning mill had surpassed Rs one billion by the end of the nineties. The mill turned into a cash spinning enterprise for both groups. Its output is exported to India, Bangladesh and Turkey and has an estimated annual turnover of NRs five billion. The group has also forged other joint ventures with Golyan group in the area of synthetic industry and hydropower projects. Bhagwati Rolling Mill, a steel manufacturing company, was established in 1995.
The group established Bhagwati Steel Industries Pvt Ltd in 1991, Everest Sugar and Chemical Industries Pvt Ltd in 1994 and Bhagwati Carbide Industries, a battery industry in 1995. In the early 2000s, the group added a soap plant and a confectionary factory. MS Group’s venture into the spinning mill and steel and sugar industries post 1990 made the group a leading business house in Nepal today.
In 2017, the MS Group introduced Fairfield by Marriot in Nepal thus entering the hospitality sector. Fairfield Marriot is a four-star American chain hotel. The group has also started construction work on a five-star deluxe hotel project in Nagpokhari, undertaken by The Everest Hospitality Group, a subsidiary of the MS Group. The project is under the flagship of Marriott International, a leading US-based hotel chain.