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Nagina Group

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Nagina Group
File:Nagina Group logo.jpg
Public corporation
IndustryTextile industry
Energy development
International trading
Founded 📆1972; 48 years ago (1972)
Founder 👔
Headquarters 🏙️, ,
Area served 🗺️
Key people
Inam Ellahi Shaikh
Shaukat Ellahi Shaikh[1]
Shafqat Ellahi Shaikh
RevenueIncrease 832 million,
$100 million USD (FY 2006)
Members
Number of employees
Websitewww.nagina.com
address
telephone

Nagina Group is a Pakistani conglomerate company which is based in Lahore, Pakistan. It manufactures a wide variety of textile products.

The company was founded in 1972 by Inam Ellahi Shaikh and Ashan Ellahi Shaikh. Nagina Cotton/Yarns (a subsidiary of Nagina Group) was listed by Forbes magazine as among the best-performing-companies with less than US $1 billion in revenue in 2003.[2][1][3]

History[edit]

The Nagina Group began as a single company, Nagina Mills Limited, established by Shaikh Inam Ellahi and Ashan Ellahi Shaikh in 1967.[4] Focusing on the production of cotton yarn, it grew with the acquisition of tanneries, factories that produced shoes and ice, and Pakistan's largest jute mill. These assets were lost, however, when East Pakistan separated from the Pakistani Federation to become Bangladesh in 1971. In 2006, Managing Director of Nagina Group, Shafqat Ellahi Shaikh was elected Chairman of All Pakistan Textile Mills Association.[5]

Nagina Group of companies[edit]

The company restructured itself in 1972 as the Nagina Group, consolidating its assets under a single umbrella organization.

The group currently manages these subsidiaries:

  • Nagina Cotton Mills Limited (Karachi) traded on Pakistan Stock Exchange with the trading symbol (NAGC)[6][7][1][8]

(Note: All the stock exchanges in Pakistan – Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange were merged into Pakistan Stock Exchange on 11 January 2016. So the old and modified company trading symbols on all financial websites may not be updated yet)

  • Nagina Cotton Mills Limited and Prosperity Weaving Mills Limited are both member companies of All Pakistan Textile Mills Association[9]
  • Ellcot Spinning Mills Limited[3]
  • Prosperity Weaving Mills Limited (incorporated on 20 November 1991) - listed and traded on Pakistan Stock Exchange with ticker symbol PRWM. Mills location is in Sheikhupura District, Punjab, Pakistan. As of 2014, this production facility has 340 textile looms with annual capacity of 55 million linear meters of fabric. This company exports its products to customers in Europe, North America and the Far East countries.[10][4][11]
Together, Nagina Group facilities hold 85,416 spindles, 240 Air Jet Weaving Machines and produce forty-eight million pounds of carded and combed yarn annually.[1]

Nagina Group also operates three private power plants to provide electricity for its mills. The installed capacity of its generators is 30.57 Megawatts. Excess energy is sold to other industrial facilities in the area.

Nagina Cotton Mills Limited is the flagship company of the Group, established in 1967. The company operates spinning machinery comprising 47,040 spindles with related textile processing machines. In 2014, the Managing Director and CEO of Nagina Group was optimistic about his companies " future business prospects for exports to the European markets."[11]

Nagina Group is active in the textile and cotton spinning, weaving, energy, real estate, and trading sectors in Pakistan.[3]

References[edit]

  1. 1.0 1.1 1.2 1.3 Habib Bank Limited (HBL) and Prosperity Weaving Mills sign Rupees 600 million deal Business Recorder (newspaper), Published 17 May 2004, Retrieved 3 September 2019
  2. Nagina Cotton/Yarns listed on Forbes 2003 list of best companies under a US $ 1 billion in revenue forbes.com business website, Retrieved 3 September 2019
  3. 3.0 3.1 3.2 Textile Spinning: NAGINA COTTON MILLS LIMITED -- Year Ended 30 September 2003 Business Recorder (newspaper), Published 12 January 2004, Retrieved 4 September 2019
  4. 4.0 4.1 Nagina Group's Prosperity Weaving Mills Limited Company on Business Recorder (newspaper), Published 4 September 2014, Retrieved 3 September 2019
  5. Business news briefs: Nagina Group's Shafqat Ellahi Shaikh elected Chairman of All Pakistan Textile Mills Association (scroll down to read under this article title) The News International (newspaper), Published 3 October 2006, Retrieved 3 September 2019
  6. Nagina Cotton Mills Limted (NAGC) stock quote and company profile on MarketScreener website Retrieved 16 September 2019
  7. Nagina Cotton Mills Limited (trading symbol NAGC- stock quote and company profile) on Pakistan Stock Exchange website Retrieved 14 September 2019
  8. PACRA (Pakistan Credit Rating Agency Limited) Maintains Entity Ratings of Nagina Cotton Mills Limited ASIANET Pakistan website, Published 1 April 2019, Retrieved 4 September 2019
  9. Nagina Cotton Mills Limited and Prosperity Weaving Mills Limited are both Listed Member Companies of All Pakistan Textile Mills Association All Pakistan Textile Mills Association (aptma.org.pk) website, Retrieved 14 September 2019
  10. Prosperity Weaving Mills Limited stock quote and company profile on MarketScreener website Retrieved 16 September 2019
  11. 11.0 11.1 Dilawar Hussain (9 March 2014). "Listed textile companies excited over prospects". Dawn (newspaper). Retrieved 3 September 2019.

External links[edit]


This article "Nagina Group" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Nagina Group. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.


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