- Three Pakistani companies, including Highnoon Laboratories, Systems Limited, and Tariq Glass Industries, have secured spots on Forbes’ Asia’s Best Under a Billion list, highlighting their notable achievements in the Asia-Pacific region.
- In contrast, the list prominently features 34 Chinese and 32 Indian publicly traded companies, underlining their dominance on the rankings and showcasing Pakistan’s limited representation with just three companies on the list.
- Forbes’ Asia’s Best Under a Billion list is an esteemed annual compilation that recognizes promising publicly listed businesses in the Asia-Pacific region based on their financial performance and growth potential.
In the latest edition of Forbes’ Asia’s Best Under a Billion list, three Pakistani companies have secured their spots on the coveted list. The 3 companies include; Highnoon Laboratories, Systems Limited, and Tariq Glass Industries.
In contrast, the list saw a notable presence of 34 Chinese and 32 Indian publicly traded companies, showcasing their dominance on the rankings while Pakistan had only 3 representing the country on the list.
What is the Forbes’ Asia’s Best Under a Billion List?
Forbes’ Asia’s Best Under a Billion list is a prestigious annual compilation that highlights promising and noteworthy publicly listed companies in the Asia-Pacific region.
The selection process involves a thorough evaluation of financial performance, growth potential, and other key indicators to identify businesses that demonstrate exceptional growth prospects and resilience in their respective industries. While Pakistani firms continue to make their mark, the substantial representation from China and India underscores the dynamic business landscape in the region.
This year’s annual Best Under A Billion list recognises 200 small and midsized publicly traded companies in the region with under $1 billion in sales,. The list has companies which have outperformed despite stiff global headwinds like inflation and rising funding costs.
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3 Pakistani Companies on the List
As per information available on the Forbes website, Highnoon Laboratories boasts a market value of $79 million. Tariq Glass Industries follows closely with a market value of $70 million, while Systems Limited takes the lead with a market value of $441 million.
Systems Limited based in Lahore is one of the eight companies from the Forbes’ list that has benefited from the global spike in demand for semiconductors.
Forbes’ analysis further delves into the financial performance of these companies. Systems Limited’s net income is reported at an impressive $32 million, achieved through sales totalling $155 million.
The Lahore-based business software company saw revenue doubling to $37 million in the first three months of this year. That follows a doubling in sales growth to $155 million in 2022. Systems attributes the surge to ongoing digital transformation in the public and private sectors.
Tariq Glass Industries, on the other hand, recorded higher sales of $166 million and secured a net income of $23 million.
Meanwhile, Highnoon Laboratories showcased sales amounting to $55 million, with a commendable net income of $9 million during the review period.
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These financial insights not only showcase the individual strengths of these companies but also provide a comparative glimpse into their respective performances within the competitive market landscape.
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