Nishat Group
 | |
Native name | نشاط گروپ |
|---|---|
| Company type | Corporate group |
| Industry | |
| Founded | 1951 |
| Founders | Mian Muhammad Yahya Mian Hameed Mian Rafiq Mian Ayub |
| Headquarters | Lahore, Pakistan |
Key people | Mian Muhammad Mansha (chairman) |
| Total assets |  US$6 billion (2021) |
Number of employees | 43,000 (2021) |
| Website | nishatmillsltd |
Nishat Group (Urdu: نشاط گروپ) is a group of companies headquartered in Lahore, Pakistan.[1][2] The company was founded by Pakistani business magnate Mian Muhammad Yahya in 1951. Mian Muhammad Mansha is the current chairman of the group.[3]
At least eleven of the Nishat Group's subsidiaries are listed on the Pakistan Stock Exchange.[4][5]
History
[edit]Nishat Group's origins goes back to a leather business in Calcutta, British India, established by Mian Muhammad Yahya.[6] Following the partition of India in 1947, Mian Muhammad Yahya and his three brothers, Mian Hameed, Mian Rafiq, and Mian Ayub, founded Nishat Mills in Pakistan in 1951.[6] The name "Nishat" was pre-assigned to the textile license they acquired and was not chosen by the founders.[6]
Mian Muhammad Mansha joined the family business in 1968 after the death of his father, Mian Muhammad Yahya.[6] By 1970, the Nishat Group had expanded to include six industrial units in West Pakistan: Nishat Corporation, Nishat Sarhad Textile, Nishat Textile Faisalabad, Nishat Chemical Industries, Nishat Poultry, and Creamy Industries Nowshera.[6] The group also had investments in East Pakistan prior to the independence of Bangladesh, including Nishat Jute Mills, Qadiryah Textile Mills, Telgin Cotton Mills, and Chemical Industries of Pakistan.[6] Nishat Jute Mills was acquired by the group from the Pakistan Industrial Development Corporation in East Pakistan.[7]
In 1969, the assets of the group were divided among the family members.[6] Mian Muhammad Mansha received assets located in West Pakistan, while assets in East Pakistan were transferred to other family members, which were eventually lost after the creation of Bangladesh.[6]
List of companies
[edit]Listed companies
[edit]Following are the companies which are listed on the Pakistan Stock Exchange:
- Adamjee Insurance Limited[8]
- Adamjee Life Assurance[9]
- DG Cement[1]
- MCB Bank[1]
- MCB Funds[10]
- Nishat Mills[11]
- Nishat Chunian[12]
- Lalpir Power[13]
- Nishat Power Limited[14]
- Nishat Chunian Power Limited[15]
- Pakgen Power Limited[16]
DG Cement
[edit]DG Khan is a major Pakistani cement manufacturer which the group acquired in 1992 under the privatization scheme. It has three active plants in the country. It generates around Rs. 2.2 billion per year. It has a production capacity of 24,000 tons per day.[17]
Lalpir Power
[edit]MCB Bank
[edit]MCB Bank is one of the four largest banks in Pakistan. It is considered as one of the 'Big Five' banks of Pakistan.[18] The bank was incorporated by Adamjee Group and it was nationalized by then Prime Minister Zulfikar Ali Bhutto. In the 1990s, it was privatized by then Prime Minister Nawaz Sharif's government and came under the Nishat Group.[5]
Nishat Chunian
[edit]Nishat Chunian Group was incorporated in 1990 to diversify the business of Nishat Group..[5]
Nishat Power
[edit]Nishat Power Limited (NPL) is an independent power producer in Pakistan that generates, distributes, and supplies electricity to the National Transmission and Dispatch Company (NTDC). It is a subsidiary of Nishat Mills Limited, which holds a 51 percent ownership stake.[19]
Founded in February 2007, Nishat Power commenced commercial operations on June 9, 2010.[20] 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.[19][21] 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.[22]
In 2009, Nishat Power Limited was listed on the Karachi Stock Exchange.[23][24]
Under the power purchase agreement signed with NTDC in 2007, Nishat Power supplies electricity to NTDC with a net capacity of 195.26 MW at a rate of 12.1253 U.S. cents per kilowatt-hour (kWh).[19][25] The duration of the power purchase agreement is twenty-five years.[19] Also, it had signed a ten-year fuel supply agreement with Shell Pakistan.[19]
Pakgen Power
[edit]Unlisted companies
[edit]Following are the companies which are not listed on the Pakistani Stock Exchange:[6]
- Nishat Linen
- Nishat Dairy (Private) Limited
- Nishat Hospitality (Private) Limited
- Nishat Papers Products Company Limited
- Pakistan Aviators & Aviation
- Security General Insurance Company Limited
- Nishat Hotels and Properties Limited[2]
- Nishat (Aziz Avenue) Hotel and Properties Limited
- Nishat (Gulberg) Hotel and Properties Limited
- Nishat (Raiwind) Hotel and Properties Limited
- Nishat Agriculture Farming (Private) Limited
- Nishat Automobile (Private) Limited
- Nishat Developers (Private) Limited
- Nishat Commodities (Private) Limited
- Lalpir Solar Power (Private) Limited
- Nishat Real Estates Development Company (Private) Limited
- Nishat Farms Supplies (Private) Limited
- Nishat International FZE
- Nishat Global China Company Limited
- Nishat UK (Private) Limited
- Nishat Linen Trading LLC
- Nishat USA Inc.
Nishat Automobile
[edit]In February 2017, it was announced that both companies are venturing to assemble cars in Pakistan.[4]
In March 2017, it was announced that Nishat Group will setup their first plant in Faisalabad, Pakistan, which will assemble electric cars.[3] Nishat Group will have a 42% stake in the venture.[3]
Nishat Agriculture Farms
[edit]Nishat Agriculture Farms Limited (NAFL), is a subsidiary of Nishat Group focused on agriculture and farming. It has made substantial investments in agriculture since its inception in 2013. The company currently manages five farms spanning 1,500 acres, including a state-of-the-art dairy farm producing packaged milk in collaboration with a Turkish partner.
In 2024, the company announced its plans to invest in corporate farming. [26]
Defunct
[edit]- First Nishat Modaraba[27]
- Genertech[27]
- Nishat Tek, formerly listed on the Karachi Stock Exchange[27]
- Raza Textile Mills[27]
- Umer Fabrics[27]
See also
[edit]References
[edit]- ^ a b c Hussain, Dilawar (22 March 2021). "Who's who of the PSX". DAWN.COM.
- ^ a b "The Nishat Hotel starts operations in Lahore". The Express Tribune. 19 April 2014. Retrieved 1 May 2022.
- ^ a b c Jamal, Nasir (3 March 2017). "Nishat Group to introduce electric, hybrid cars". Dawn. Retrieved 1 May 2022.
- ^ a b "Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills". Dawn. Reuters. 4 February 2017. Retrieved 1 May 2022.
- ^ a b c Sengupta, Hindol (5 May 2011). "The man behind Pakistan's biggest conglomerate". Fortune India. Archived from the original on 1 March 2018. Retrieved 1 May 2022.
- ^ a b c d e f g h i Saqib, Muhammad Amjad (2016). Kamyab Log. Lahore: Sang-e-Meel Publications. pp. 105–112.
- ^ AMJAD, RASHID (1976). "Industrial Concentration and Economic Power in Pakistan". Pakistan Economic and Social Review. 14 (1/4): 211–261. JSTOR 25821361 – via JSTOR.
- ^ "AICL - Stock quote for Adamjee Insurance Company Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 11 November 2022.
- ^ "ALIFE - Stock quote for Adamjee Life Assurance Company Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "MCBIM - Stock quote for MCB Investment Management Limited. - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NML - Stock quote for Nishat Mills Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NCL - Stock quote for Nishat Chunian Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 11 November 2022.
- ^ "LPL - Stock quote for Lalpir Power Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NPL - Stock quote for Nishat Power Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "NCPL - Stock quote for Nishat Chunian Power Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "PKGP - Stock quote for Pakgen Power Limited - Pakistan Stock Exchange (PSX)". dps.psx.com.pk.
- ^ "DG Khan Cement rakes in Rs2.06 billion profit". The Express Tribune. 20 April 2017. Retrieved 1 May 2022.
- ^ Tirmizi, Farooq (11 October 2020). "The dominance of the Big Five banks is about to be broken". Profit by Pakistan Today. Retrieved 11 November 2022.
- ^ a b c d e "Nishat Power Limited". Brecorder. 6 March 2012.
- ^ Newspaper, From the (18 October 2010). "IPPs lobbying govt for getting fines waived". DAWN.COM.
- ^ 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.
- ^ Desk, Monitoring (8 July 2024). "Nishat Group expands into corporate farming, local manufacturing". Profit by Pakistan Today. Retrieved 23 July 2024.
{{cite web}}:|last=has generic name (help) - ^ a b c d e Cragg, Claudia (1996). The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh. p. 74. ISBN 9780712677615.
