Nishat Mills Limited
By PSX Investors Zone · Updated October 16, 2026
Nishat Mills Limited (NML) is a Pakistan Stock Exchange-listed textile company established in 1951. Its operations include spinning, weaving, textile processing, dyeing, printing, stitching, garments, home textiles and power generation. The company serves local and international markets, with exports forming an important part of its business. Its financial performance is influenced by global textile demand, export orders, energy and raw-material costs, exchange rates, and domestic economic conditions. Investors researching NML should examine its latest financial statements, cash flows, margins, dividend announcements, and current PSX Shariah-screening status.
Company Overview
Nishat Mills Limited (NML) is a Pakistan Stock Exchange-listed textile company established in 1951. It is the flagship company of Nishat Group and operates across several stages of textile production, including spinning, weaving, processing, dyeing, printing, stitching, garments and home textiles. The company also operates power-generation facilities.
NML serves domestic and international markets. Its results are influenced by textile export demand, global economic conditions, energy prices, raw-material costs, exchange-rate movements and competition.
Sources: Official company website | Official PSX profile
Business Model
NML operates an integrated textile business. Its main activities include:
- Spinning: Producing yarn from cotton and other fibres.
- Weaving: Manufacturing fabric for different end uses.
- Processing: Dyeing, printing, finishing and other fabric treatments.
- Home textiles and garments: Producing stitched products for customers and export markets.
- Power generation: Supporting energy requirements through its power-generation facilities.
An integrated model can give the company control over several stages of production, but it also exposes NML to substantial energy, labour, financing and raw-material costs.
Fundamental Analysis
Investors should assess revenue growth, gross and net profit margins, earnings per share (EPS), operating cash flow, borrowings, inventory, receivables and dividend history. Revenue growth alone does not establish that a company is becoming more profitable.
Annual Financial Performance
The following figures are from the financial data displayed on the PSX company profile. Amounts are in Pakistani rupees.
| Financial metric | FY2026 | FY2025 |
|---|---|---|
| Sales | Rs. 181.645 billion | Rs. 178.167 billion |
| Profit after tax | Rs. 5.483 billion | Rs. 6.014 billion |
| Earnings per share (EPS) | Rs. 15.59 | Rs. 17.10 |
| Gross profit margin | 9.76% | 11.24% |
| Net profit margin | 3.02% | 3.38% |
How to read these figures: Sales increased modestly in FY2026, but reported profit after tax and EPS declined. The lower gross and net margins suggest that investors should investigate input costs, energy expenses, financing costs and the profitability of different business segments.
PSX notes that its financial data may be standardized for comparison and may differ from the issuer’s original reports. For formal analysis, use the company’s reported financial statements and confirm whether each figure is standalone or consolidated.
Sources: PSX NML financial profile | Nishat Mills official financial information
Latest Quarterly Results
PSX displays the following figures for the third quarter of FY2026, ended March 31, 2026:
| Financial metric | Q3 FY2026 |
|---|---|
| Sales | Rs. 46.416 billion |
| Profit after tax | Rs. 545.416 million |
| EPS | Rs. 1.55 |
These are quarterly figures, not full-year results. Compare them with the corresponding prior-year quarter and review the interim report before drawing conclusions about the company’s outlook.
Source: Official PSX company profile
Dividend Information
Do not assume a dividend based only on historical payments or earnings. Check the latest board-meeting outcome, official PSX announcement and annual report for the amount per share, announcement date, approval status and entitlement dates.
Official sources: PSX NML announcements | Nishat Mills financial reports
Shariah Compliance Status
The PSX screening notice dated May 29, 2026 listed Nishat Mills Limited (NML) as Shariah-compliant based on financial data as of December 31, 2025. The notice reported the following screening ratios:
| Screening measure | Reported result |
|---|---|
| Debt ratio | 18.21% |
| Non-compliant investments / total assets | 19.60% |
| Non-compliant income ratio | 1.92% |
| Illiquid assets / total assets | 67.98% |
| Final status in that notice | Compliant |
These figures relate to the screening period stated in the notice; they are not a guarantee of future compliance. Verify the latest PSX or official Islamic-index screening notice before publishing or relying on the status.
Sources: Official PSX screening notice | PSX Islamic indices
Important PSX Risk Warning
The PSX NML profile currently displays a Risk Warning Alert referring to continuous violation of specified clauses of the Exchange’s Rule Book and a potential risk of trading suspension or delisting.
This warning does not, by itself, confirm that NML has been suspended or delisted. Before publishing, review the latest PSX profile and notices to establish whether the warning remains active and whether any subsequent action has been announced.
Source: Official PSX NML profile
Key Risks for Investors
- Export demand: Weak international demand may reduce orders and capacity utilization.
- Energy costs: Electricity, gas and fuel costs can put pressure on margins.
- Raw-material prices: Cotton and other input-price movements can affect production costs.
- Currency movements: Exchange-rate changes can influence export receipts and imported inputs.
- Financing costs: Borrowing costs and working-capital needs may affect earnings.
- Profitability: FY2026 reported EPS and profit after tax declined compared with FY2025.
- Regulatory and screening status: Monitor official PSX risk notices and the latest Shariah-screening publication.
What Investors Should Monitor
- Quarterly revenue, EPS and profit margins.
- Export performance and order trends, where disclosed.
- Energy costs and raw-material prices.
- Operating cash flow, borrowings and working-capital movements.
- Board announcements and dividend decisions.
- Current PSX Risk Warning Alert and the latest Shariah-screening status.
Frequently Asked Questions
What does NML do?
Nishat Mills Limited operates in textiles, including spinning, weaving, processing, garments, home textiles and power generation.
Was NML profitable in FY2026?
Yes. The PSX profile reports profit after tax of approximately Rs. 5.483 billion and EPS of Rs. 15.59 for FY2026.
Is NML Shariah-compliant?
The PSX screening notice dated May 29, 2026 listed NML as compliant based on December 31, 2025 data. Check the latest official screening notice before relying on this status.
Where can I find NML's financial reports?
Visit the Nishat Mills financial information page or the PSX company profile.
Disclaimer
This profile is for educational and informational purposes only. It is not a recommendation to buy or sell NML shares and does not promise any profit or investment outcome. Verify the latest company reports, PSX announcements, risk notices and Shariah-screening status before making an investment decision.
This profile is for educational purposes and is not a recommendation to buy or sell any security.