Business

Pakistan Army owned three companies become part of top 25 companies PSX

Lahore: Pakistan Army is considered the number one army in the world but it is not only proficient in the core operations but in businesses as well. Today, Pakistan Stock Exchange (PSX) has announced the recipients of the Top 25 Companies Awards for the year 2020, in which three companies are owned by Pakistan Army.

The key pre-requisites for this prestigious award include Total Shareholder Return (TSR), shares must trade for atleast 50% of the total trading days during the year, and that the company is not in the Defaulters’ Segment of the Exchange or trading in its shares has not been suspended on account of violation of Listing Companies & Securities Regulations of the Exchange during the said year. This year,  specific weightage was also added for diversity and reporting on SDGs.

Since 1978, the PSX Top 25 Companies Awards have been presented to outstanding companies listed on the Stock Exchange. Broadly speaking, companies which have shown outstanding performance in terms of their corporate governance, financial performance and have added to shareholder value make it to the Top 25 Companies list. Specifically, companies who have outperformed others in terms of their Capital Efficiency, TSR, Free Float of Shares, Growth in Operating Revenue, Turnover of Shares, and specific quantifiers of Corporate Governance & Investors Relation are eligible for the PSX Top 25 Companies Award. Moreover, companies that have outperformed in other metrics such as reporting on Corporate Social Responsibility (CSR), Sustainable Development Goals (SDG), and Diversity & Inclusion are eligible for this prestigious Award.

On the announcement of the Top 25 Companies Awards 2020, the MD & CEO PSX, Mr. Farrukh H. Khan, stated, “I congratulate the recipients of the PSX Top 25 Companies Awards 2020. Through their exceptional performance in all spheres of business and corporate activities, whether operational, financial, governance, corporate social responsibility & SDGs, these listed companies have delivered exceptional value to all stakeholders and to Pakistan. They truly are role models for all companies.”

He further stated, “Since the last 44 years, Pakistan Stock Exchange has set a high bar to encourage and identify exceptional performance and companies. These companies have consistently created shareholder value.  The PSX Top 25 Companies Awards acknowledges and celebrates these corporate stars, which highlights them to local and global investors, whilst projecting a positive image of Pakistan and its economy on the international stage.”

He added, “I am also pleased to share that PSX has announced the Top 25 Companies Selection Criteria for the year 2021. This gives more weightage to the increasingly important Sustainable Development Goals. Moreover, performance of companies in terms of their financial ratios and minimum dividend distribution of 30% have been included in the revised criteria. We hope this will encourage all listed companies to focus on key SDGs and delivering higher shareholder value.”  

The companies that made it to the Top 25 Companies Awards list in 2020, in order of their performance ranking, are:

1           Fauji Fertilizer Company Limited

2           Meezan Bank Limited

3          Systems Limited

4          Security Papers Limited

5          Archroma Pakistan Limited

6          Fauji Fertilizer Bin Qasim Limited

7          Mari Petroleum Company Limited

8          Askari Bank Limited

9 Abbott Laboratories (Pakistan) Limited

10        Century Paper & Board Mills Limited

11        Cherat Packaging Limited

12        Cherat Cement Company Limited

13        ICI Pakistan Limited

14        Ghani Global Glass Limited

15        Engro Polymer & Chemicals Limited

16        International Industries Limited

17        Redco Textiles Limited

18        Hum Network Limited

19        Mehran Sugar Mills Limited

20        Tri-Pack Films Limited

21        Al-Abbas Sugar Mills Limited

22        International Steels Limited

23        Synthetic Products Enterprises Limited

24        Attock Cement Pakistan Limited

25        OLP Modaraba (Formerly: Orix Modaraba)

PSX again congratulates the winners who have performed exceptionally despite the difficult operating environment due to the Covid pandemic. The recognition of these companies by Pakistan Stock Exchange will cast a positive light on Pakistan’s business, economic and financial sectors. This will also highlight these companies to local & foreign investors, analysts and portfolio managers.

Nasir Taimoori

Nasir Taimoori is a freelance journalist working for different digital publications. He writes on various social, national and international issues. He also has an interest in translation.

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