Nishat Mills Limited
 | |
| Company type | Public |
|---|---|
| PSX: NML KSE 100 component KMI 30 component | |
| Industry | Textile |
| Founded | 1951 |
| Founders | Mian Muhammad Yahya Mian Hameed Mian Rafiq Mian Ayub |
| Headquarters | , Pakistan |
Area served | Worldwide |
Key people | Mian Umer Mansha (CEO) Mian Hassan Mansha (chairperson) |
| Revenue |  Rs. 212.511 billion (US$740 million) (2024) |
 Rs. 23.300 billion (US$81 million) (2024) | |
| Rs. 7.868 billion (US$27 million) (2024) | |
| Total assets | Rs. 273.706 billion (US$950 million) (2024) |
| Total equity | Rs. 157.847 billion (US$550 million) (2024) |
Number of employees | 27,776 (2024) |
| Parent | Nishat Group |
| Subsidiaries | Nishat Linen Nishat Power |
| Website | nishatmillsltd |
| Footnotes / references Financials as of 30 June 2024[update] [1] | |
Nishat Mills Limited (Urdu pronunciation: [niːˈʃaːt] nee-SHAHT) is a Pakistani textile company based in Lahore.[2] It produces yarn, linen, and other products made from raw cotton and synthetic fibers.[3] It is one of the largest textile companies of Pakistan.[4][5]
History
[edit]Nishat Mills Limited was founded in 1951 by Mian Muhammad Yahya, Mian Hameed, Mian Rafiq, and Mian Ayub.[6] The name "Nishat" was pre-assigned to the textile license they acquired and was not chosen by the founders.[6]
In 1995, Raza Textiles merged with its sister company, Umer Fabrics, which was later merged into Nishat Mills in 2004.[7] Two years later, in 1997, Nishat Fabrics and Nishat Tek were amalgamated into Nishat Mills.[8]
In May 2009, Nishat Apparel Limited was merged to Nishat Mills.[9]
In January 2023, Nishat acquired Wernerfelt A/S, a company based in Denmark, from Lars Lauridsen Holding ApS.[10]
In September 2024, Nishat sold its shareholding in Nishat Hospitality, established subsidiaries in the United Kingdom and Turkey, and opened a liaison office in Bangladesh.[11][12]
Subsidiaries
[edit]Nishat Power
[edit]Nishat Power Limited was incorporated in February 2007 as an independent power producer.[13] It is a subsidiary of Nishat Mills Limited, which holds a 51 percent ownership stake.[14]
Nishat Power commenced commercial operations on June 9, 2010.[13] The power plant, supplied by Wärtsilä, is located near Kasur District in Punjab and operates using residual furnace oil, with a gross generation capacity of 200 MW.[14][15] For the first five years, the operation and maintenance of the plant were handled by Wärtsilä, which later trained local staff to manage it in-house.[16]
In 2009, Nishat Power Limited was listed on the Karachi Stock Exchange.[17][18]
Under the power purchase agreement (PPA) signed with NTDC in 2007, Nishat Power received a tariff of 12.1253 U.S. cents per kilowatt-hour (kWh).[14][19] The duration of the PPA was twenty-five years.[14] Also, it had signed a ten-year fuel supply agreement with Shell Pakistan.[14] The original PPA was signed by the Government of Pakistan with the sovereign guarantee and it offered 15 percent return on equity with United States dollar indexation.[20] However, in August 2020, PPA was revised by the government and US dollar indexation was removed.[20]
Nishat Linen
[edit]
Nishat Linen was founded in 1989 by Naz Mansha, the wife of Pakistani businessman, Mian Muhammad Mansha.[21][22][23]
In 1989, Nishat Linen established a factory.[24] In 1994, the first retail store of Nishat was opened.[24]
Nishat Linen also operates franchises of Inglot Cosmetics and Swarovski in Pakistan.[24]
Investments
[edit]- Nishat Sutas Dairy (48.86%)
- Sanifa Agri Services (33.12%)
- DG Cement (31.40%)
- Pakgen Power (30.25%)
- Lalpir Power (28.93%)
- Nishat Energy (25%)
- Nishat Paper Products Company (25%)
- Security General Insurance (15.02%)
- Nishat Dairy (12.24%)
- Hyundai Nishat Motors (12%)
- MCB Bank (8.03%)
- Nishat Chunian Power (6.95%)
- Nishat Hotels and Properties (6.08%)
References
[edit]- ^ "Nishat Mills Annual Report 2024". Retrieved 24 October 2024.
- ^ Hussain, Dilawar (July 6, 2003). "Nishat Mills". DAWN.COM.
- ^ "Nishat Mills Limited profile". Brecorder. January 30, 2024.
- ^ "Cutting a new cloth in Pakistan". March 1, 2012.
- ^ Report, Profit (June 21, 2020). "Nishat Mills: the PPE orders help, but do not make up for the loss of exports". Profit by Pakistan Today.
- ^ a b Saqib, Muhammad Amjad (2016). Kamyab Log. Lahore: Sang-e-Meel Publications. pp. 105–112.
- ^ "Business group unfolds merger plans". DAWN.COM. September 7, 2004.
- ^ Hussain, Dilawar (July 29, 2002). "Corporate marriages outside the clan". DAWN.COM.
- ^ "Merger of NAL into Nishat Mills". DAWN.COM. May 28, 2009.
- ^ "Pakistan's Nishat Mills says it will acquire 100% of Denmark's Wernerfelt A/S". Brecorder. January 20, 2023.
- ^ "Nishat Mills plans sale of hospitality division and expansion into Türkiye". Profit by Pakistan Today. September 27, 2024.
- ^ "Nishat Mills Limited to establish company in UK". Brecorder. September 2, 2024.
- ^ a b "IPPs lobbying govt for getting fines waived". DAWN.COM. 18 October 2010.
- ^ a b c d e "Nishat Power Limited". Brecorder. 6 March 2012.
- ^ Kiani, Khaleeq (11 July 2008). "Bidding for six IPPs on 16th". DAWN.COM.
- ^ "Wärtsilä wins two service contracts to operate and maintain 400 MWe power plants in Pakistan".
- ^ "First public offering after 10 months". DAWN.COM. 4 September 2009.
- ^ "IPO of Nishat Power". The Nation. 8 October 2009.
- ^ "2 power plants achieve financial closure". DAWN.COM. 5 January 2008.
- ^ a b "Pakistan reduces profit margins of IPPs". The Express Tribune. 18 August 2020.
- ^ "Trends: Create Your Own Designer Look". 28 October 2018.
- ^ "Ready, set and go: Nishat Linen CEO pleased with 22% growth as fashion sector blossoms". The Express Tribune. 24 September 2017.
- ^ Masooma, Syeda (December 14, 2016). "The Corporate Titaness". Profit by Pakistan Today.
- ^ a b c "INSPIRATIONAL WOMAN: Naz Mansha, the go-getter". Good Times. 17 March 2016.
