NML Nishat Mills Limited

Nishat Mills Limited (NML) financial ratios

Nishat Mills Limited earned a net margin of 7.3% in FY2026 against a five-year average of 6.0% (Textile Composite median 1.5%). Return on equity was 8.4%, compared with a sector median of 3.8%. The current ratio stood at 1.41× and debt was 48.4% of equity. Cash took about 185 days to cycle through receivables, inventory and payables.

FY2026 vs the Textile Composite median

Gross margin: 13.6%; Sector median 11.7%
Operating margin: 3.8%; Sector median 5.0%
Net margin: 7.3%; Sector median 1.5%
Return on equity (ROE): 8.4%; Sector median 3.8%
Return on assets (ROA): 4.8%; Sector median 1.3%
Current ratio: 1.41×; Sector median 1.21×
Debt to equity: 48.4%; Sector median 72.9%
Asset turnover: 0.66×; Sector median 0.78×
Dividend payout ratio: 54.2%; Sector median 0.0%

Median of the 44 companies in the sector with the figure for their latest fiscal year.

NML financial ratios (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 * Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 * Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	13.6%	15.5%	15.7%	17.0%	17.3%	17.7%	20.0%	17.4%	15.9%	16.1%	17.9%	16.4%	16.2%	18.8%	17.7%	18.3%	19.1%	18.2%	14.0%	16.6%
EBITDA margin	7.8%	9.6%	11.0%	12.9%	12.7%	13.6%	15.5%	13.2%	12.1%	12.2%	14.6%	13.9%	13.3%	16.2%	15.5%	17.1%	15.0%	13.7%	41.7%	13.9%
Operating margin	3.8%	6.4%	8.2%	10.0%	9.6%	9.2%	10.6%	9.4%	7.8%	7.6%	9.7%	9.7%	10.2%	13.1%	12.2%	13.6%	11.5%	9.0%	36.2%	8.2%
Pre-tax margin	7.3%	4.6%	6.0%	7.9%	11.0%	12.5%	10.8%	11.4%	12.1%	11.9%	14.3%	11.1%	10.5%	13.0%	8.5%	15.1%	26.4%	8.3%	31.6%	10.6%
Net margin	7.3%	2.3%	4.9%	6.9%	8.4%	10.7%	9.9%	10.1%	10.4%	9.9%	10.7%	10.4%	9.9%	12.3%	7.7%	14.3%	25.2%	5.8%	28.9%	9.7%
Effective tax rate	(0.4%)	49.8%	17.7%	13.6%	23.8%	14.6%	8.7%	12.1%	14.1%	16.7%	25.0%	5.9%	5.5%	5.3%	10.2%	5.5%	4.6%	29.8%	8.4%	8.0%
Returns
Return on equity (ROE)	8.4%	3.4%	6.0%	9.6%	11.1%	9.7%	6.7%	8.4%	8.1%	7.2%	7.4%	8.2%	9.5%	14.4%	8.7%	21.1%	26.1%	4.9%	18.5%	6.6%
Return on assets (ROA)	4.8%	1.7%	4.2%	6.3%	7.5%	6.7%	5.7%	6.7%	6.4%	5.8%	6.0%	6.4%	7.1%	9.7%	5.9%	12.5%	13.5%	2.8%	13.0%	4.8%
Return on invested capital (ROIC)	7.3%	3.7%	7.5%	9.1%	8.3%	7.3%	6.2%	7.4%	6.7%	6.1%	6.3%	7.8%	6.3%	9.0%	5.1%	12.1%	14.6%	4.0%	11.9%	7.2%
Liquidity
Current ratio	1.41×	1.47×	1.53×	1.58×	1.75×	1.79×	1.67×	1.46×	1.58×	1.51×	1.65×	1.59×	1.50×	1.64×	1.37×	1.31×	1.13×	0.78×	0.73×	1.74×
Quick ratio	0.67×	0.67×	0.82×	0.76×	0.82×	1.04×	0.82×	0.71×	0.87×	0.75×	0.91×	0.82×	0.87×	1.01×	0.83×	0.69×	0.66×	0.33×	0.34×	1.28×
Leverage
Debt to equity	48.4%	55.2%	52.5%	46.7%	39.2%	32.6%	33.8%	33.6%	29.6%	32.3%	28.6%	33.7%	41.2%	42.0%	67.4%	65.8%	72.4%	85.1%	129.4%	27.3%
Debt to capital	32.6%	35.6%	34.4%	31.8%	28.2%	24.6%	25.3%	25.2%	22.9%	24.4%	22.3%	25.2%	29.2%	29.6%	38.6%	38.4%	41.0%	46.0%	56.4%	21.4%
Debt to assets	29.2%	31.3%	30.3%	28.1%	25.1%	22.4%	23.0%	23.0%	21.1%	22.7%	20.5%	23.8%	27.2%	27.5%	36.0%	36.2%	38.5%	43.7%	84.4%	20.7%
Assets to equity	1.70×	1.75×	1.70×	1.61×	1.51×	1.46×	1.46×	1.43×	1.41×	1.41×	1.41×	1.47×	1.52×	1.67×	1.84×	1.85×	1.91×	1.72×	1.43×	1.39×
Efficiency
Asset turnover	0.66×	0.72×	0.85×	0.91×	0.89×	0.63×	0.58×	0.66×	0.62×	0.59×	0.56×	0.62×	0.71×	0.78×	0.76×	0.88×	0.53×	0.49×	0.45×	0.49×
Receivable days days	75	81	83	75	75	108	112	89	81	69	68	68	61	65	69	44	46	30	31	28
Inventory days days	142	138	119	122	104	129	154	114	107	106	107	98	83	79	83	63	83	87	89	89
Payable days days	32	31	27	25	23	31	37	29	27	26	24	21	21	18	13	12	19	11	16	18
Cash conversion cycle days	185	188	176	171	157	207	229	174	161	148	152	145	124	126	139	96	110	107	105	99
Dividends
Dividend payout ratio	54.2%	106.4%	22.3%	0.0%	0.0%	0.0%	0.0%	21.4%	24.1%	28.5%	28.9%	0.0%	19.5%	14.4%	27.4%	9.8%	10.7%	35.2%	6.4%	23.9%
Earnings retention rate	0.46×	(0.06×)	0.78×	1.00×	1.00×	1.00×	1.00×	0.79×	0.76×	0.72×	0.71×	1.00×	0.81×	0.86×	0.73×	0.90×	0.89×	0.65×	0.94×	0.76×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

NML: frequently asked questions

What is NML's EPS?

Nishat Mills Limited reported basic earnings per share of Rs 41.08 for FY2026 (Jul 2025 – Jun 2026).

What is NML's P/E ratio?

At the closing price of Rs 126.26 on 16 Oct 2026, NML trades at a P/E of 3.1× based on EPS of Rs 41.08 (FY2026).

Does NML pay dividends?

Yes. Nishat Mills Limited declared a dividend of Rs 2.00 per share for FY2026. It has paid a dividend in each of the last 20 years. At Rs 126.26 that is a dividend yield of 1.6%.

What was NML's revenue and profit in FY2026?

Nishat Mills Limited reported revenue of Rs 213.6 bn and profit attributable to shareholders of Rs 14.4 bn for FY2026 (Jul 2025 – Jun 2026).

What is NML's book value per share?

Nishat Mills Limited's book value per share was Rs 530.08 at the end of FY2026. The shares trade at 0.24× book value.

Information only, not investment advice.