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

PSX awards top 25 companies for 2022: FFC
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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.”

Top 25 Companies
1 Fauji Fertilizer Company Limited 14 Cherat Cement Company Limited
2 Engro Corporation Limited 15 United Bank Limited
3 Systems Limited 16 Archroma Pakistan Limited
4 Engro Fertilizers Limited 17 International Industries Limited
5 Engro Powergen Qadirpur Limited 18 MCB Bank Limited
6 Engro Polymer & Chemicals Limited 19 Lotte Chemical Pakistan Limited
7 Security Papers Limited 20 Indus Motor Company Limited
8 Habib Bank Limited 21 Jubilee Life Insurance Company Limited
9 Pakistan Oilfields Limited 22 Pakistan Cables Limited
10 Bank Alfalah Limited 23 The Hub Power Company Limited
11 Habib Metropolitan Bank Limited 24 Cherat Packaging Limited
12 Millat Tractors Limited 25 Pakistan State Oil Company Limited
13 Mari Petroleum Company Limited    

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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Posted on: 2023-12-08T11:57:04+05:00