Nishat Group
 | |
Native name | نشاط گروپ |
|---|---|
| Industry | |
| Founded | 1951 |
| Founder | Mian Muhammad Yahya |
| Headquarters | Lahore, Pakistan |
Key people | Mian Muhammad Mansha (chairman) |
| Total assets |  US$6 billion[1] (2021) |
Number of employees | 43,000 (2021) |
| Website | www |
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[edit]
Nishat Group's origins goes back to a leather business in Calcutta, British India, established by Mian Muhammad Yahya.[7] 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.[7] The name "Nishat" was pre-assigned to the textile license they acquired and was not chosen by the founders.[7]
Mian Muhammad Mansha joined the family business in 1968 after the death of his father, Mian Muhammad Yahya.[7] 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.[7] 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.[7] In 1969, the assets of the group were divided among the family members.[7] 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.[7]
Companies[edit]
Nishat Group is one of largest conglomerate companies in Pakistan. Some companies which group owns are:[5]
Listed on Pakistan Stock exchange[edit]
Following are the companies which are listed on the Pakistan Stock Exchange:
DG Khan 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.[9]
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.[11] 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[edit]
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[edit]
Nishat Automobile[edit]
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[edit]
Active[edit]
Following are the companies which are not listed on the Pakistani Stock Exchange[7]:
- 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[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.
Defunct[edit]
- First Nishat Modaraba[12]
- Genertech[12]
- Nishat Tek, formerly listed on the Karachi Stock Exchange[12]
- Raza Textile Mills[12]
- Umer Fabrics[12]
See also[edit]
References[edit]
- ^ "10 Titans of Pakistani Business". Retrieved 2022-11-02.
- ^ Hussain, Dilawar (March 22, 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 c "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 d 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.
- ^ a b c d e f g h i Saqib, Muhammad Amjad (2016). Kamyab Log. Lahore: Sang-e-Meel Publications. pp. 105–112.
- ^ "AICL - Stock quote for Adamjee Insurance Company Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 2022-11-11.
- ^ a b "DG Khan Cement rakes in Rs2.06 billion profit". The Express Tribune. 20 April 2017. Retrieved 1 May 2022.
- ^ "NCL - Stock quote for Nishat Chunian Limited - Pakistan Stock Exchange (PSX)". Pakistan Stock Exchange. Retrieved 2022-11-11.
- ^ 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.
- ^ a b c d e Cragg, Claudia (1996). The New Maharajahs: The Commercial Princes of India, Pakistan and Bangladesh. p. 74. ISBN 9780712677615.
