Only three Pakistani companies, namely Highnoon Laboratories, Systems Limited, and Tariq Glass Industries have secured a place in this year’s Forbes’ Asia’s Best Under a Billion list. In comparison, a staggering 34 Chinese and 32 Indian publicly traded companies have dominated the rankings.
Highnoon Laboratories, a significant and rapidly growing entity in Pakistan, has consistently featured on the list in 2019, 2021, and 2022. Similarly, Systems Limited was previously recognized in 2020, 2021, and 2022.
As reported by Forbes, Highnoon Laboratories holds a market value of $79 million, Tariq Glass Industries holds $70 million, and Systems Limited stands at $441 million.
The financial assessment by Forbes reveals that Systems Limited reported a net income of $32 million on $155 million in sales. Tariq Glass Industries achieved higher sales of $166 million and a net income of $23 million. Highnoon Laboratories recorded sales of $55 million and a net income of $9 million during the reviewed period.
Forbes’ annual Best Under a Billion list spotlights the top 200 high-performing small and mid-sized companies in the Asia-Pacific region with sales under $1 billion. These companies have demonstrated resilience in the face of formidable global challenges such as inflation and escalating funding costs. Notably, many of these exemplary performers operate within the chipmaking and related industries.
Among the standout firms on the coveted list are those engaged in providing IT solutions for healthcare, logistics, manufacturing, and various other sectors. Additionally, businesses reliant on consumer spending have experienced a boost in sales as COVID-19 restrictions continue to ease. Globally, 58 companies have returned to this year’s list, having featured in the previous year.
This ranking underscores the prowess of certain Asian businesses that have adeptly navigated a complex economic landscape, reinforcing their contributions to regional growth and stability.
