Sapphire (group)

Last updated

Sapphire
Company type Public
PSX:  SAPT
Industry Textile
Founded1940 (1940) in Calcutta, India
FounderHaji Muhammad Din
Headquarters Lahore, Pakistan
ProductsTextiles and textile products
RevenueIncrease2.svgRs. 137.298 billion (US$480 million) (2024)
Increase2.svgRs. 34.898 billion (US$120 million) (2024)
Increase2.svgRs. 13.263 billion (US$46 million) (2024)
Total assets Increase2.svgRs. 185.169 billion (US$640 million) (2024)
Total equity Increase2.svgRs. 83.663 billion (US$290 million) (2024)
Number of employees
14,734 (2024)
Subsidiaries Sapphire Retail
Sapphire Real Estate Limited
Sapphire Green Energy Limited
Sapphire Chemicals Limited
Sapphire International APS
Sapphire Wind Power Company (70%)
Tricon Boston Consulting Corporation Limited (57.125%)
Website sapphire.com.pk
Footnotes /references
Financials as of 30 June 2024 [1]

Sapphire Textile Mills Limited, also known as Sapphire Group, is a Pakistani vertically integrated textile manufacturer, producing cotton yarn, fabric, and finished garments. [2] It is based in Lahore, Pakistan. [3]

Contents

History

Sapphire's origins goes back to a leather business founded by Haji Muhammad Din in Dhaka. [4] Haji Muhammad Din was born in Chiniot to a family of farmers, but due to economic hardship, the family transitioned from farming to the leather trade. [4] He started with limited resources and expanded his business to Calcutta and Chittagong, involving his four sons in the growing business. [4] Under Haji Muhammad Din's leadership, the business flourished and became one of the largest exporter of raw leather in British India, with agents in major cities such as New Delhi, Lucknow, Kanpur, and Amritsar. [4]

After the partition of India in 1947 and the family moved to Dhaka. [4] In 1951, Haji Muhammad Din died after a brief illness and the family struggled to manage the labor-intensive leather business and eventually transitioned to trading yarn between Dhaka and Karachi in 1953. [4]

By the early 1960s, the family had established a stable yarn business and opened their first textile mill in Jessore, East Pakistan, in 1961. [4] As Bengali nationalism grew, the family decided to invest in West Pakistan and established a spinning mill in Bahawalpur in 1966. [4] Political instability in East Pakistan led the family to move to Karachi in 1970, where they acquired the Sapphire Textile Mill in Kotri, Sindh, in 1971, and later used it as the group identity. [4]

In 2003, Sapphire made an equity investment of Rs300 million in the unlisted associated company, Sapphire Finishing Mills Limited. [5]

In 2009, Sapphire invested 980,000 Danish krone in Beirholms Sapphire A/S, a company registered in Denmark. [6]

In 2014, the retail division of the company, Sapphire Retail, was founded by Nabeel Abdullah. [7] Sapphire's retail sector began as a women's apparel brand but quickly grew into a lifestyle brand with products ranging from cosmetics, menswear, children's garments, accessories and linen. [8]

Sapphire has also diversified into the power generation and dairy sectors. Sapphire Dairies operates a mechanized dairy farm based on 100 acres near Manga, Lahore, and Sapphire Electric Company has a combined cycle plant in Muridke. [9]

Production plants

Sapphire operates three spinning production plants, located in Kotri, Nooriabad, and Kasur; one weaving plant in Sheikhupura; and one stitching plant in Sheikhupura. [1]

Subsidiaries

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References

  1. 1 2 "Sapphire Textile Annual Report 2024" . Retrieved 22 October 2024.
  2. ↑ Bhatti, Ayesha; Haroon, Omair. "Sapphire Textile Mills Limited: Refined Costing".
  3. ↑ Report, BR Research | Recorder (23 October 2019). "Sapphire Textile Mills Limited". Brecorder.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: numeric names: authors list (link)
  4. 1 2 3 4 5 6 7 8 9 Saqib, Muhammad Amjad (2016). Kamyab Log. Lahore: Sang-e-Meel Publications. pp. 83–90.
  5. ↑ Hussain, Dilawar (7 May 2003). "Sapphire Textile Mills". DAWN.COM.
  6. ↑ Hussain, Dilawar (13 October 2009). "Sapphire Textile to invest in Danish firm". DAWN.COM.
  7. ↑ Hassan, Taimoor (23 September 2019). "After years of expanding its retail footprint, Sapphire turns online". Profit by Pakistan Today.
  8. ↑ Report, Profit (5 October 2020). "Sapphire goes all-in on serving Pakistani women's clothing needs… and wins big". Profit by Pakistan Today.
  9. ↑ "Bank Alfalah to buy 30pc Sapphire shares to enter power sector". The Nation.
  10. 1 2 "Sapphire Textile Mills Limited". Brecorder. 15 November 2016.
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