KARACHI: Pakistan Stock Exchange has announced the recipients of the Top 25 Companies Awards for the year 2020.
The key pre-requisites for this prestigious award include Total Shareholder Return (TSR), shares must trade for at least 50 percent 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 Pakistan Stock Exchange. The 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 and Inclusion are eligible for this prestigious Award.
On the announcement of the Top 25 Companies Awards 2020, the MD and CEO PSX, Farrukh H. Khan congratulated 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 and SDGs, these listed companies have delivered exceptional value to all stakeholders and to Pakistan, he said. They truly are role models for all companies, he added.
“Since the last 44 years, Pakistan Stock Exchange has set a high bar to encourage and identify exceptional performance and companies and these companies have consistently created shareholder value, Farrukh said. 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 percent have been included in the revised criteria”, he said. “We hope this will encourage all listed companies to focus on key SDGs and delivering higher shareholder value”, he added.
The companies that made it to the Top 25 Companies Awards list in 2020, in order of their performance ranking, are Fauji Fertilizer Company Limited, Meezan Bank Limited, Systems Limited, Security Papers Limited, Archroma Pakistan Limited, Fauji Fertilizer Bin Qasim Limited, Mari Petroleum Company Limited, Askari Bank Limited, Abbott Laboratories (Pakistan) Limited, Century Paper and Board Mills Limited, Cherat Packaging Limited, Cherat Cement Company Limited, ICI Pakistan Limited, Ghani Global Glass Limited, Engro Polymer and Chemicals Limited, International Industries Limited, Redco Textiles Limited, Hum Network Limited, Mehran Sugar Mills Limited, Tri-Pack Films Limited, Al-Abbas Sugar Mills Limited, International Steels Limited, Synthetic Products Enterprises Limited, Attock Cement Pakistan Limited and OLP Modaraba (Formerly: Orix Modaraba).
“PSX again congratulates the winners who have performed exceptionally despite the difficult operating environment due to the Covid pandemic”, Farrukh said adding that 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 and foreign investors, analysts and portfolio managers, he said.
Copyright Business Recorder, 2022