Nishat Chunian

Nishat Chunian
Company typePublic
PSX: NCL
KSE 100 component
IndustryTextile
Founded1990
FounderShahzad Saleem
HeadquartersLahore, Pakistan
Key people
Shahzad Saleem (CEO)
RevenueDecrease Rs. 70.949 billion (US$250 million) (2023)
Decrease Rs. 5.655 billion (US$20 million) (2023)
Decrease Rs. -871.909 million (US$−3.0 million) (2023)
Total assetsDecrease Rs. 69.743 billion (US$240 million) (2023)
Total equityDecrease Rs. 20.572 billion (US$71 million) (2023)
OwnerShahzad Saleem (22.85%)
Nishat Mills (13.61%)
Number of employees
7,101 (2023)
ParentNishat Group
Subsidiaries
  • The Linen Company
  • Nishat Chunian USA Inc.
  • Sweave Inc.
  • Nishat Chunian Properties Limited
  • T L C Middle East Trading L.L.C
Websitenishat.net
Footnotes / references
Financials as of 30 June 2023 [1]

Nishat Chunian Limited (Urdu pronunciation: [nɪˈʃaːt tʃuːˈnɪ.jən] nih-SHAHT choo-NIH-yuhn) 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]

Nishat Chunian also operates The Linen Company retail stores located in Lahore, Karachi, and Islamabad.[4]

History

Nishat 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

Following are the two subsidiaries:

  • Nishat Chunian USA Inc.[10][11]
  • Nishat Chunian Electric Corporation Ltd.[2]
  • The Linen Company[4]

Former

  • Nishat Chunian Power[2]
  • Nishat Chunian Entertainment[9]

Factories

Nishat Chunian operates factories in the following cities:

References

  1. ^ "Nishat Chunian Limited Annual Report 2023". Retrieved 23 May 2024.
  2. ^ a b c Hussain, Dilawar (23 October 2017). "Nishat Chunian expands into power and cinema".
  3. ^ "One of Pakistan's largest textile companies, Nishat Chunian to partially suspend operations". DAWN.COM. December 28, 2022.
  4. ^ a b c d Research, B. R. (June 9, 2020). "Nishat Chunian Limited". Brecorder.
  5. ^ a b c d Hassan, Taimoor (July 1, 2019). "The pesky wrinkles in the fabric of Pakistan's textile industry". Profit by Pakistan Today.
  6. ^ Jamal, Nasir (January 24, 2022). "Need for autonomy". Dawn.
  7. ^ 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.
  8. ^ "Year of the yarn: Nishat Chunian acquires Taj Textile for Rs350 million". The Express Tribune. July 25, 2013.
  9. ^ a b Farooq, Mohammad (July 26, 2018). "Nishat Chunian sells 100 percent stake in NCEL". Profit by Pakistan Today.
  10. ^ Correspondent, Our Equities (January 9, 2013). "Nishat to set up subsidiary in US". DAWN.COM. {{cite web}}: |last= has generic name (help)
  11. ^ "Nishat Chunian to invest $1m in US". The Express Tribune. January 8, 2013.

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