Nishat Chunian Limited (Urdu: نشاط چونیاں) is a Pakistani vertically integrated textile company based in Lahore.[2] It is listed on the Pakistan Stock Exchange and is one of the largest textile company of Pakistan.[3]
 | |
| Company type | Public |
|---|---|
| PSX: NCL KSE 100 component | |
| Industry | Textile |
| Founded | 1990 |
| Founder | Shahzad Saleem |
| Headquarters | Lahore, Pakistan |
Key people | Shahzad Saleem (CEO) |
| Revenue |  Rs. 70.949 billion (US$250 million) (2023) |
| Rs. 5.655 billion (US$20 million) (2023) | |
| Rs. -871.909 million (US$−3.0 million) (2023) | |
| Total assets | Rs. 69.743 billion (US$240 million) (2023) |
| Total equity | Rs. 20.572 billion (US$71 million) (2023) |
| Owner | Shahzad Saleem (22.85%) Nishat Mills (13.61%) |
Number of employees | 7,101 (2023) |
| Parent | Nishat Group |
| Subsidiaries |
|
| Website | nishat |
| Footnotes / references Financials as of 30 June 2023[update] [1] | |
Nishat Chunian also operates The Linen Company retail stores located in Lahore, Karachi, and Islamabad.[4]
History
editNishat Chunian was incorporated in 1990 as a spinning mill by Shahzad Saleem, a nephew of Mian Muhammad Mansha, as part of Nishat Group.[5] It began commercial operations in March 1991 with a manufacturing facility of 14,400 spindles supplied by Sulzer.[6][7] The company was also listed on the Karachi Stock Exchange in 1991.[7]
In 1998, Nishat Chunian established a weaving mill.[5] Two years later, another spinning mill was added.[5]
In 2013, Nishat Chunian acquired Taj Textiles for Rs. 350 million.[8]
In 2010, Nishat Chunian established Nishat Chunian Power, a 200MW independent power producer, which is also listed on the Pakistan Stock Exchange.[5]
In July 2018, Nishat Chunian divested its shareholding in Nishat Chunian Entertainment.[9]
Subsidiaries
editFollowing are the two subsidiaries:
Former
editFactories
editNishat Chunian operates factories in the following cities:
References
edit- ^ "Nishat Chunian Limited Annual Report 2023". Retrieved 23 May 2024.
- ^ a b c Hussain, Dilawar (23 October 2017). "Nishat Chunian expands into power and cinema".
- ^ "One of Pakistan's largest textile companies, Nishat Chunian to partially suspend operations". DAWN.COM. December 28, 2022.
- ^ a b c d Research, B. R. (June 9, 2020). "Nishat Chunian Limited". Brecorder.
- ^ a b c d Hassan, Taimoor (July 1, 2019). "The pesky wrinkles in the fabric of Pakistan's textile industry". Profit by Pakistan Today.
- ^ Jamal, Nasir (January 24, 2022). "Need for autonomy". Dawn.
- ^ a b "Corporate finance in Pakistan : case studies from an emerging market". [Karachi] : Oxford University Press ; Lahore : Lahore University of Management Sciences. May 13, 1999 – via Internet Archive.
- ^ "Year of the yarn: Nishat Chunian acquires Taj Textile for Rs350 million". The Express Tribune. July 25, 2013.
- ^ a b Farooq, Mohammad (July 26, 2018). "Nishat Chunian sells 100 percent stake in NCEL". Profit by Pakistan Today.
- ^ Correspondent, Our Equities (January 9, 2013). "Nishat to set up subsidiary in US". DAWN.COM.
{{cite web}}:|last=has generic name (help) - ^ "Nishat Chunian to invest $1m in US". The Express Tribune. January 8, 2013.