The Pakistan Stock Exchange (PSX) recently unveiled the recipients of its highly anticipated Top 25 Companies Awards for the year 2023. Instituted in 1978, this annual accolade is considered a premier benchmark for corporate excellence in Pakistan, celebrating listed entities that demonstrate exceptional financial health, robust governance, and a strong commitment to sustainable business practices.
To be eligible for the award, a company must satisfy essential baseline prerequisites, such as distributing a minimum dividend of 30% and ensuring its shares are traded on at least 75% of the market’s annual trading days. Beyond these primary requirements, the PSX employs a comprehensive evaluation mechanism divided into strict quantitative and qualitative metrics. Quantitative assessments measure financial strength through profitability, liquidity, and solvency ratios, alongside dividend payouts, share turnover, and the free-float of shares. On the qualitative side, the exchange evaluates companies based on their dedication to Corporate Social Responsibility (CSR), Diversity and Inclusion (D&I), Corporate Governance, and active reporting on Enterprise Risk Management, Environmental, Social, & Governance (ESG) initiatives, and Sustainable Development Goals (SDGs).
Acting CEO of PSX, Nadeem Naqvi—a seasoned financial executive with extensive leadership experience across the energy and investment banking sectors, including former roles as CEO of Lucky Electric Power Company and Hub Power Holdings—extended his congratulations to the winners. He emphasized that the recognized firms exemplify the pinnacle of Pakistan’s business environment across financial, governance, and ESG parameters. Naqvi noted that earning this accolade sends a clear signal to both domestic and international investors that these organizations operate on par with global standards, proving their competence and reliability as potential business partners.
The 2023 rankings feature a diverse lineup of industry leaders. The top 25 companies, listed in order of their final ranking, are:
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Engro Corporation Limited
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Engro Fertilizers Limited
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Fauji Fertilizer Company Limited
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Hub Power Company Limited
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Bank Alfalah Limited
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Habib Bank Limited
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Habib Metropolitan Bank Limited
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Mari Petroleum Company Limited
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Systems Limited
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Cherat Cement Company Limited
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Lucky Cement Limited
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Meezan Bank Limited
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Engro Polymer & Chemicals Limited
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Pakistan Oilfields Limited
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Image Pakistan Limited
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MCB Bank Limited
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Faysal Bank Limited
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Nestle Pakistan Limited
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Adamjee Insurance Company Limited
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Indus Motor Company Limited
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International Industries Limited
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United Bank Limited
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Pakistan State Oil Company Limited
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Security Papers Limited
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Bank AL Habib Limited