Nishat Mills Limited

Last updated
Nishat Mills
Company type Public
PSX:  NML
KSE 100 component
KMI 30 component
Industry Textile
Founded1951;73 years ago (1951)
FoundersMian Muhammad Yahya
Mian Hameed
Mian Rafiq
Mian Ayub
Headquarters
Lahore
,
Pakistan
Area served
Worldwide
Key people
Mian Umer Mansha (CEO)
Mian Hassan Mansha (chairperson)
RevenueIncrease2.svgRs. 212.511 billion (US$740 million) (2024)
Decrease2.svgRs. 23.300 billion (US$81 million) (2024)
Decrease2.svgRs. 7.868 billion (US$27 million) (2024)
Total assets Increase2.svgRs. 273.706 billion (US$950 million) (2024)
Total equity Increase2.svgRs. 157.847 billion (US$550 million) (2024)
Number of employees
27,776 (2024)
Parent Nishat Group
Subsidiaries Nishat Linen
Nishat Power
Website nishatmillsltd.com
Footnotes /references
Financials as of 30 June 2024 [1]

Nishat Mills Limited (NML) 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]

Contents

History

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 Türkiye, and opened a liaison office in Bangladesh. [11] [12]

Subsidiaries

Nishat Linen

Nishat Linen store at Dolmen Mall in Karachi Nishat Linen at Dolmen Mall, Tariq Road, Karachi.jpg
Nishat Linen store at Dolmen Mall in Karachi

Nishat Linen was founded in 1989 by Naz Mansha, the wife of Pakistani businessman, Mian Muhammad Mansha. [13] [14] [15] Naaz Mansha is also known for running Inglot Cosmetics and Swarovski retail chains in Pakistan. [16]

In 1989, a factory owned by Nishat became operational. [16] In 1994, the first retail store of Nishat was opened. [16]

Investments

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References

  1. ↑ "Nishat Mills Annual Report 2024" . Retrieved 24 October 2024.
  2. ↑ Hussain, Dilawar (July 6, 2003). "Nishat Mills". DAWN.COM.
  3. ↑ "Nishat Mills Limited profile". Brecorder. January 30, 2024.
  4. ↑ "Cutting a new cloth in Pakistan". March 1, 2012.
  5. ↑ 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.
  6. 1 2 Saqib, Muhammad Amjad (2016). Kamyab Log. Lahore: Sang-e-Meel Publications. pp. 105–112.
  7. ↑ "Business group unfolds merger plans". DAWN.COM. September 7, 2004.
  8. ↑ Hussain, Dilawar (July 29, 2002). "Corporate marriages outside the clan". DAWN.COM.
  9. ↑ "Merger of NAL into Nishat Mills". DAWN.COM. May 28, 2009.
  10. ↑ "Pakistan's Nishat Mills says it will acquire 100% of Denmark's Wernerfelt A/S". Brecorder. January 20, 2023.
  11. ↑ "Nishat Mills plans sale of hospitality division and expansion into Türkiye". Profit by Pakistan Today. September 27, 2024.
  12. ↑ "Nishat Mills Limited to establish company in UK". Brecorder. September 2, 2024.
  13. ↑ "Trends: Create Your Own Designer Look". 28 October 2018.
  14. ↑ "Ready, set and go: Nishat Linen CEO pleased with 22% growth as fashion sector blossoms". The Express Tribune. 24 September 2017.
  15. ↑ Masooma, Syeda (December 14, 2016). "The Corporate Titaness". Profit by Pakistan Today.
  16. 1 2 3 "INSPIRATIONAL WOMAN: Naz Mansha, the go-getter". Good Times. 17 March 2016.
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