PSX awards top 25 companies for 2022: FFC, Engro, Systems lead

December 08, 2023 (MLN): Fauji Fertilizer Company Limited (PSX: FFC), Engro Corporation Limited (PSX: ENGRO), and Systems Limited (PSX: SYS) stood as the leading three companies among the recipients of the 'Top 25 Companies Awards' on the Pakistan Stock Exchange for the year 2022.

Since 1978, PSX has been presenting ‘Top 25 Companies Awards’ to identify and honor the outstanding performance of listed companies.

The recipients of this prestigious accolade are companies that have met specific qualitative and quantitative criteria.

This recognizes the exceptional performance of companies in corporate governance, financial performance, reporting on SDGs, diversity, and increase in shareholder value, amongst other factors.

Speaking on the occasion, Federal Minister for Finance Dr. Shamhsad Akhtar said, “Recognition of top achievers has been a longtime tradition of PSX. Awards are a significant gesture as they recognize and reward performance, encourage an environment of healthy competition among the corporate sector”

She added that it fosters a great sense of responsibility and drive to achieve new heights of corporate governance going beyond maximization of the shareholder wealth to concern for stakeholders.

Going forward PSX is advocating that companies adopt the ESG (environment, social, and governance) standards to serve better the country's planet and people.

The Chairman of the Securities & Exchange Commission of Pakistan (SECP) remarked, “the top 25 companies awards serve as a testament to the dedication and efforts of the award recipients.”

These companies have been selected based on the stringent selection criteria consisting of several quantitative and qualitative criteria.

Quantitative criteria include profitability ratio, liquidity ratio, dividend-related ratios, solvency ratio, free-float of shares, and turnover of shares.

Meanwhile, qualitative criteria include corporate social responsibilities, reporting on sustainability development goals, environmental, social, and governance factors, reporting on enterprise risk management, diversity and inclusion, and corporate governance & investor relations.

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