Nishat Group
Native name
نشاط گروپ‬
Industry
Founded1951 (1951)
FounderMian Muhammad Yahya
HeadquartersLahore, Pakistan
Key people
Mian Muhammad Mansha (chairman)
Total assetsIncrease US$6 billion[1] (2021)
Number of employees
43,000 (2021)
Websitewww.nishatmillsltd.com

Nishat Group (Urdu: نشاط گروپ‬) is a Pakistani multinational conglomerate company which is based in Lahore, Pakistan.[2][3] The company was founded by Pakistani business magnate Mian Muhammad Yahya in 1951. Mian Muhammad Mansha is the current chairman of the group.[4]

Many of the Nishat Group's subsidiaries are listed on the Pakistan Stock Exchange.[5][6]

History

The company was founded by Mian Muhammad Yahya, later the ownership went to Mian Muhammad Mansha, Chairman of Nishat Group. Nishat Mills Faisalabad was the first textile mill they started. It had a net income of 520 million dollars in 2022.[5]

Companies

Nishat Group is one of largest conglomerate companies in Pakistan. Some companies which group owns are:[5]

Listed on Pakistan Stock exchange

Following are the companies which are listed on the Pakistan Stock Exchange:

DG Khan Cement

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.[8]

MCB Bank

MCB Bank is one of the four largest banks in Pakistan. It is considered as one of the 'Big Five' banks of Pakistan.[10] 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.[6]

Nishat Chunian

Nishat Chunian Group was incorporated in 1990 to diversify the business of Nishat Group. Today, Nishat Chunian Group consists of four companies – Nishat Chunian Limited (a textile company), Nishat Chunian Power Limited (a power generation company), Nishat Chunian USA Inc. (Incorporated in the USA), and Nishat Chunian Electric Corporation Ltd.(a captive power generation company).[6]

Lal Pir Power

Nishat Automobile

In February 2017, it was announced that both companies are venturing to assemble cars in Pakistan.[5]

In March 2017, it was announced that Nishat Group will setup their first plant in Faisalabad, Pakistan, which will assemble electric cars.[4] Nishat Group will have a 42% stake in the venture.[4]

Unlisted

Following are the companies which are not listed on the Pakistani Stock Exchange:

  • 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[3]
  • 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.

See also

References

  1. ↑ "10 Titans of Pakistani Business". Retrieved 2022-11-02.
  2. ↑ Hussain, Dilawar (March 22, 2021). "Who's who of the PSX". DAWN.COM.
  3. 1 2 "The Nishat Hotel starts operations in Lahore". The Express Tribune. 19 April 2014. Retrieved 1 May 2022.
  4. 1 2 3 Jamal, Nasir (3 March 2017). "Nishat Group to introduce electric, hybrid cars". Dawn. Retrieved 1 May 2022.
  5. 1 2 3 4 "Hyundai to assemble cars in Pakistan in venture with textile group Nishat Mills". Dawn. Reuters. 4 February 2017. Retrieved 1 May 2022.
  6. 1 2 3 4 Sengupta, Hindol (5 May 2011). "The man behind Pakistan's biggest conglomerate". Fortune India. Archived from the original on 2018-03-01. Retrieved 1 May 2022.
  7. ↑ "AICL - Stock quote for Adamjee Insurance Company Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 2022-11-11.
  8. 1 2 "DG Khan Cement rakes in Rs2.06 billion profit". The Express Tribune. 20 April 2017. Retrieved 1 May 2022.
  9. ↑ "NCL - Stock quote for Nishat Chunian Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 2022-11-11.
  10. ↑ Tirmizi, Farooq (2020-10-11). "The dominance of the Big Five banks is about to be broken". Profit by Pakistan Today. Retrieved 2022-11-11.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.