Nishat Chunian

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]

Nishat Chunian
Company typePublic
PSX: NCL
IndustryTextile
Founded1990
FounderShahzad Saleem
HeadquartersLahore, 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)
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 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. 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. Research, B. R. (June 9, 2020). "Nishat Chunian Limited". Brecorder.
  5. 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. "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. 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.
  11. "Nishat Chunian to invest $1m in US". The Express Tribune. January 8, 2013.
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