PSX announces list of award recipients for 2023

KARACHI: Pakistan Stock Exchange (PSX) has announced the list of Top 25 Companies Awards recipients for the year 2023.

The PSX Top 25 Companies Awards, launched in 1978, are a prestigious and widely-respected awards recognising excellence in the corporate sector and industry of Pakistan.

The companies that make it to the list of the coveted awards are selected on the basis of their financial performance, governance and operational achievements as well as Sustainability and ESG related initiatives.

The PSX Top 25 Companies Awards recognises companies achieving certain key pre-requisites for this prestigious award, which include having a minimum dividend distribution of 30 percent and shares of the company having been traded at least 75 percent of the total trading days in a year, among other pre-requisites.

Subject to achieving these pre-requisites, the companies are further weighed based on certain quantitative and qualitative criteria. In terms of quantitative criteria, PSX selects listed companies which have performed exceptionally in the context of profitability ratios, dividend related ratios, and turnover of shares, among other specifics. In terms of qualitative criteria, PSX selects high-performing listed companies based on Corporate Social Responsibility (CSR), reporting on SDGs, ESG related initiatives, and Diversity & Inclusion, among other considerations.

Announcing the PSX Top 25 Companies Awards winners for 2023, Nadeem Naqvi, Acting CEO of PSX, stated, “On behalf of Pakistan Stock Exchange, I extend my heartiest congratulations to the recipients of the PSX Top 25 Companies Awards for the year 2023. These awards showcase excellence in Pakistan’s corporate, business and industrial landscape whereby the top performing companies who have excelled based on financial, governance, ESG, D&I and other quantitative and qualitative criteria, are duly recognised and awarded”.

He further stated, “The winning of this accolade by the respective companies will send a strong message to investors globally and locally that these Pakistani companies and industries are at par with global corporate and industrial performers. Furthermore, winning this prestigious and distinctive award is a clear reflection of the competence and capabilities of such companies in their ability to do business successfully with current, future or potential local and international business partners”.

The companies that made it to the Top 25 Companies Awards list in 2023, in order of their ranking, are Engro Corporation Limited, Engro Fertilizers Limited, Fauji Fertilizer Company Limited, Hub Power Company Limited, Bank Alfalah Limited, Habib Bank Limited, Habib Metropolitan Bank Limited, Mari Petroleum Company Limited, Systems Limited, Cherat Cement Company Limited, Lucky Cement Limited, Meezan Bank Limited, Engro Polymer & Chemicals Limited, Pakistan Oilfields Limited, Image Pakistan Limited, MCB Bank Limited, Faysal Bank Limited, Nestle Pakistan Limited, Adamjee Insurance Company Limited, Indus Motor Company Limited, International Industries Limited, United Bank Limited, Pakistan State Oil Company Limited, Security Papers Limited and Bank AL Habib Limited.