Kathmandu- C.G. Foods (Nepal) Limited, the maker of the popular Wai Wai instant noodles, has received a reaffirmation of its [ICRANP] A1 short-term credit rating from ICRA Nepal, reflecting the company’s strong financial position, healthy liquidity and established market leadership.

ICRA Nepal said the rating reflects the company’s more than four decades of operating history, strong brand recognition and sound consolidated financial profile. The company has maintained low leverage, healthy interest coverage and efficient working capital management while continuing to hold a leading position in Nepal’s instant noodles market.

The rating agency also highlighted the company’s comfortable liquidity position, supported by strong cash reserves and available borrowing capacity. On a standalone basis, C.G. Foods held around Rs 213 million in cash as of mid-April 2026, while revenue showed improvement during the first nine months of FY2025/26 after a modest decline in previous years.

According to ICRA Nepal, the company’s diversified product portfolio—including beverages, chips and extruded snacks alongside its flagship Wai Wai noodles—has strengthened its business profile. The agency also stated that planned expansion into new product categories is expected to further support revenue growth, while the company’s extensive distribution network and operations across three subsidiaries provide additional stability.

ICRA Nepal further stated that C.G. Foods continues to benefit from experienced promoters under the Chaudhary Group and a well-established management team. The company has been operating since 1984 and remains one of Nepal’s best-known FMCG manufacturers.

While the report notes challenges such as raw material price volatility and intense competition, it says the company’s financial strength, market leadership and planned product expansion position it well for future growth.