Nagina Group

Last updated
Nagina Group
Public corporation
Industry Textile industry
Energy development
International trading
Founded1972;47 years ago (1972)
Headquarters
Lahore
,
Pakistan
Key people
Inam Ellahi Shaikh
Shaukat Ellahi Shaikh [1]
Shafqat Ellahi Shaikh
RevenueIncrease2.svg₨832 million,
$100 million USD (FY 2006)
Website www.nagina.com

Nagina Group is a Pakistani conglomerate company which is based in Lahore, Pakistan. It manufactures a wide variety of textile products.

Conglomerate (company) two or more corporations that fall under one corporate group

A conglomerate is a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Often, a conglomerate is a multi-industry company. Conglomerates are often large and multinational.

Lahore Metropolitan area in Punjab, Pakistan

Lahore is the capital of the Pakistani province of Punjab. Lahore is the country's second-most populous city and is one of Pakistan's wealthiest cities, with an estimated GDP of $58.14 billion (PPP) as of 2015. Lahore is the largest city, and historic cultural centre of the Punjab region, and one of Pakistan's most socially liberal, progressive, and cosmopolitan cities.

Pakistan federal parliamentary constitutional republic in South Asia

Pakistan, officially the Islamic Republic of Pakistan, is a country in South Asia. It is the world’s sixth-most populous country with a population exceeding 212,742,631 people. In area, it is the 33rd-largest country, spanning 881,913 square kilometres. Pakistan has a 1,046-kilometre (650-mile) coastline along the Arabian Sea and Gulf of Oman in the south and is bordered by India to the east, Afghanistan to the west, Iran to the southwest, and China in the northeast. It is separated narrowly from Tajikistan by Afghanistan's Wakhan Corridor in the northwest, and also shares a maritime border with Oman.

Contents

The company was founded in 1972 by Inam Ellahi Shaikh and Ashan Ellahi Shaikh. Nagina Cotton/Yarns (a subsidiary of Nagina Group) was listed by Forbes magazine as among the best-performing-companies with less than US $1 billion in revenue in 2003. [2] [1] [3]

<i>Forbes</i> American business magazine

Forbes is an American business magazine. Published bi-weekly, it features original articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law. Its headquarters is located in Jersey City, New Jersey. Primary competitors in the national business magazine category include Fortune and Bloomberg Businessweek. The magazine is well known for its lists and rankings, including of the richest Americans, of the world's top companies, and The World's Billionaires. The motto of Forbes magazine is "The Capitalist Tool". Its chair and editor-in-chief is Steve Forbes, and its CEO is Mike Federle. In 2014, it was sold to a Hong Kong-based investment group, Integrated Whale Media Investments.

History

The Nagina Group began as a single company, Nagina Mills Limited, established by Shaikh Inam Ellahi and Ashan Ellahi Shaikh in 1967. [4] Focusing on the production of cotton yarn, it grew with the acquisition of tanneries, factories that produced shoes and ice, and Pakistan's largest jute mill. These assets were lost, however, when East Pakistan separated from the Pakistani Federation to become Bangladesh in 1971. In 2006, Managing Director of Nagina Group, Shafqat Ellahi Shaikh was elected Chairman of All Pakistan Textile Mills Association. [5]

Cotton Plant fiber from the genus Gossypium

Cotton is a soft, fluffy staple fiber that grows in a boll, or protective case, around the seeds of the cotton plants of the genus Gossypium in the mallow family Malvaceae. The fiber is almost pure cellulose. Under natural conditions, the cotton bolls will increase the dispersal of the seeds.

Yarn long continuous length of interlocked fibers

Yarn is a long continuous length of interlocked fibres, suitable for use in the production of textiles, sewing, crocheting, knitting, weaving, embroidery, or ropemaking. Thread is a type of yarn intended for sewing by hand or machine. Modern manufactured sewing threads may be finished with wax or other lubricants to withstand the stresses involved in sewing. Embroidery threads are yarns specifically designed for needlework.

Tanning (leather) process of treating animal skin to produce leather

Tanning is the process of treating skins and hides of animals to produce leather. A tannery is the place where the skins are processed.

Nagina Group of companies

The company restructured itself in 1972 as the Nagina Group, consolidating its assets under a single umbrella organization.

An umbrella organization is an association of institutions, who work together formally to coordinate activities or pool resources. In business, political, or other environments, one group, the umbrella organization, provides resources and often an identity to the smaller organizations. Sometimes in this kind of arrangement, the umbrella organization is to some degree responsible for the groups under its care.

The group currently manages these subsidiaries:

Pakistan Stock Exchange

The Pakistan Stock Exchange is a stock exchange in Pakistan with trading floors in Karachi, Islamabad and Lahore. PSX was reclassified as a MSCI Emerging Market in May 2017, while the FTSE classifies PSX as a Secondary Emerging Market.

(Note: All the stock exchanges in Pakistan – Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange were merged into Pakistan Stock Exchange on 11 January 2016. So the old and modified company trading symbols on all financial websites may not be updated yet)

Together, Nagina Group facilities hold 85,416 spindles, 240 Air Jet Weaving Machines and produce forty-eight million pounds of carded and combed yarn annually. [1]

Nagina Group also operates three private power plants to provide electricity for its mills. The installed capacity of its generators is 30.57 Megawatts. Excess energy is sold to other industrial facilities in the area.

Nagina Cotton Mills Limited is the flagship company of the Group, established in 1967. The company operates spinning machinery comprising 47,040 spindles with related textile processing machines. In 2014, the Managing Director and CEO of Nagina Group was optimistic about his companies " future business prospects for exports to the European markets." [11]

Nagina Group is active in the textile and cotton spinning, weaving, energy, real estate, and trading sectors in Pakistan. [3]

Related Research Articles

The Gul Ahmed Group is a Pakistani company that includes Gul Ahmed Textile Mills, Gul Ahmed Energy and Habib Metropolitan Bank. More recently, a chain of retail outlets has been operating under the name "Ideas by Gul Ahmed". The group's other concerns go by the name of Swisstex Chemicals (Private) Limited, which is a large chemical distribution company that has the sole rights for supplying Ciba Specialty Chemicals in Pakistan. The group has invested in outsourcing information technology with Arwen Technologies.

Khadi handspun and hand-woven cloth from the Indian Subcontinent, mainly made out of cotton

Khadi or khaddar is handspun, hand-woven natural fiber cloth originating from India, Bangladesh and broadly used in Pakistan and India.This fabric mainly made from cotton.

National Textile University university in Faisalabad, Punjab, Pakistan

The National Textile University (NTU) is the premier institution of textile education in Pakistan. It was formerly known as National College of Textile Engineering affiliated with University of Engineering and Technology, Lahore since 1976.

Fine Spinners and Doublers was a major cotton spinning business based in Manchester, England. At its peak it was a constituent of the FT 30 index of leading companies on the London Stock Exchange.

Bagley & Wright was a spinning, doubling and weaving company based in Oldham, Lancashire, England. The business, which was active from 1867 until 1924, 'caught the wave' of the cotton-boom that existed following the end of the American Civil War in 1865 and experienced rapid growth in the United Kingdom and abroad.

Lancashire Cotton Corporation

The Lancashire Cotton Corporation was a company set up by the Bank of England in 1929, to rescue the Lancashire spinning industry by means of horizontal rationalisation. In merged 105 companies, ending up in 1950 with 53 operating mills. It was bought up by Courtaulds in August 1964.

Regent Mill, Failsworth

Regent Mill, Failsworth is a Grade II listed former cotton spinning mill in Failsworth, Oldham, Greater Manchester. It was built by the Regent Mill Ltd. in 1905, but purchased by the Lancashire Cotton Corporation in the 1930s. It was later taken over by the Courtaulds Group. On ceasing textile production it was occupied by Pifco Ltd, and then by Salton Europe Ltd who now occupy this site. It was driven by an 1800 hp twin tandem compound engine by Buckley & Taylor. It became a ring mill with 60,000 spindles in 1915, all provided by Platt Brothers.

Trent Mill

Trent Mill was a cotton spinning mill on Duchess Street in Shaw and Crompton, Greater Manchester, England. It was built by F.W. Dixon & Son in 1908. It closed and was taken over by the Lancashire Cotton Corporation in 1929 reopened in 1938 and closed again in 1962, and was demolished in 1967.

Waterside Mill, Ashton-under-Lyne

Waterside Mill, Ashton-under-Lyne was a combined cotton spinning weaving mill in Whitelands, Ashton-under-Lyne, Greater Manchester, United Kingdom. It was built as two independent factories. The weaving sheds date from 1857; the four-storey spinning mill dates from 1863. The spinning was taken over by the Lancashire Cotton Corporation in the 1930s. Production finished in the 1950s. Waterside Mill was converted to electricity around 1911.

Blackridings Mill, Oldham

Blackridings Mill, Oldham was a cotton waste mill lying off Block Lane in the Werneth area of Oldham, Greater Manchester. It was built before 1861 and ceased spinning between 1875 and 1880. It was then used for flock manufacture and processing cotton waste. It was taken over by the Lancashire Cotton Corporation in the 1930s and passed to Courtaulds in 1964. Production finished in 1973, demolished in 1975.

Heron Mill, Hollinwood

Heron Mill is a cotton spinning mill in Hollinwood, Oldham, Greater Manchester. It was designed by architect P. S. Stott and was constructed in 1905 by the Heron Mill Company Ltd next to Durban Mill. It was taken over by the Lancashire Cotton Corporation in the 1930s and passed to Courtaulds in 1964. Production ended in 1960, and it was used by Courtaulds for offices, warehousing, and some experimental fabric manufacture.

Chenab Group is a Pakistani conglomerate based in Faisalabad, Pakistan. It is one of the largest exporters of home textile products from Pakistan. It was set up in 1974 as Chenab Fabrics & Processing Mills Limited and later converted to Chenab Limited. It was founded by Mian Muhammad Latif and his father Haji Muhammad Saleem who was a cotton industrialist in Toba Tek Singh District.

Toyobo

Toyobo Co., Ltd. is one of Japan's top makers of fibers and textiles, including synthetic fibers and natural fibers, such as cotton and wool.

The textile industry in India traditionally, after agriculture, is the only industry that has generated huge employment for both skilled and unskilled labour in textiles. The textile industry continues to be the second-largest employment generating sector in India. It offers direct employment to over 35 million in the country. The share of textiles in total exports was 11.04% during April–July 2010, as per the Ministry of Textiles. During 2009–2010, the Indian textile industry was pegged at US$55 billion, 64% of which services domestic demand. In 2010, there were 2,500 textile weaving factories and 4,135 textile finishing factories in all of India. According to AT Kearney’s ‘Retail Apparel Index’, India was ranked as the fourth most promising market for apparel retailers in 2009.

Ahmed Dawood was a Pakistani industrialist, pioneer merchant and a philanthropist. He was the founder and eponym of the Dawood Group.

The Textile industry in Pakistan is the largest manufacturing industry in Pakistan. Pakistan is the 8th largest exporter of textile commodities in Asia. Textile sector contributes 8.5% to the GDP of Pakistan. In addition, the sector employs about 45% of the total labor force in the country. Pakistan is the 4th largest producer of cotton with the third largest spinning capacity in Asia after China and India and contributes 5% to the global spinning capacity. At present, there are 1,221 ginning units, 442 spinning units, 124 large spinning units and 425 small units which produce textile.

Saif Group

Saif Group is a Pakistani conglomerate company largely focused on textile industry and is owned by Saifullah Khan family.

The textile industry in China is the largest in the world in both overall production and exports. China exported $274 billion in textiles in 2013, a volume that was nearly seven times that of India, the second largest exporter with $40 billion in exports. This accounted for 43.1% of global clothing exports.

Shiva Texyarn Limited

Shiva Texyarn Limited is an Indian textile manufacturing company based in Coimbatore, Tamil Nadu. The company is engaged in manufacturing of yarn, fabrics, garments, dry sheets and home textiles in India.

References

  1. 1 2 3 4 Habib Bank Limited (HBL) and Prosperity Weaving Mills sign Rupees 600 million deal Business Recorder (newspaper), Published 17 May 2004, Retrieved 3 September 2019
  2. ↑ Nagina Cotton/Yarns listed on Forbes 2003 list of best companies under a US $ 1 billion in revenue forbes.com business website, Retrieved 3 September 2019
  3. 1 2 3 Textile Spinning: NAGINA COTTON MILLS LIMITED -- Year Ended 30 September 2003 Business Recorder (newspaper), Published 12 January 2004, Retrieved 4 September 2019
  4. 1 2 Nagina Group's Prosperity Weaving Mills Limited Company on Business Recorder (newspaper), Published 4 September 2014, Retrieved 3 September 2019
  5. ↑ Business news briefs: Nagina Group's Shafqat Ellahi Shaikh elected Chairman of All Pakistan Textile Mills Association (scroll down to read under this article title) The News International (newspaper), Published 3 October 2006, Retrieved 3 September 2019
  6. ↑ Nagina Cotton Mills Limted (NAGC) stock quote and company profile on MarketScreener website Retrieved 16 September 2019
  7. ↑ Nagina Cotton Mills Limited (trading symbol NAGC- stock quote and company profile) on Pakistan Stock Exchange website Retrieved 14 September 2019
  8. ↑ PACRA (Pakistan Credit Rating Agency Limited) Maintains Entity Ratings of Nagina Cotton Mills Limited ASIANET Pakistan website, Published 1 April 2019, Retrieved 4 September 2019
  9. ↑ Nagina Cotton Mills Limited and Prosperity Weaving Mills Limited are both Listed Member Companies of All Pakistan Textile Mills Association All Pakistan Textile Mills Association (aptma.org.pk) website, Retrieved 14 September 2019
  10. ↑ Prosperity Weaving Mills Limited stock quote and company profile on MarketScreener website Retrieved 16 September 2019
  11. 1 2 Dilawar Hussain (9 March 2014). "Listed textile companies excited over prospects". Dawn (newspaper). Retrieved 3 September 2019.
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