Five Pakistani companies make it to Forbes ‘Best Under A Billion’
Forbes has released Asia’s best under a billion companies list 2017. Among many other Asian companies, five Pakistani companies have also secured a place on the list. According to Forbes, the Pakistani companies featured this year are Agriauto Industries, Cherat Packaging, Ferozsons Laboratories, Ghandhara Industries, and Searle Company. Last year seven Pakistani companies made it to the list.
How Forbes compile its ‘Best Under a Billion’ list
According to Forbes, the induction of a company in the list is based on company’s profitability and growth and if their annual revenue does not surpass $1 billion. The media outlet does not include companies that have worrisome accounting, management, and legal issues. This year almost 18,000 candidates were scrutinized. The winning 200 produced best earnings and growth result during the current fiscal year and three-years periods. It would be worth mentioning here that Forbes also excludes companies which earn less than $5 million.
A look at the Pakistani companies who made it
- Ferozsons Laboratories, the pharmaceutical products making company has been included in the list for the second time. Ferozsons grew almost 93 percent last year and market value of the company is $102 million. The company was founded on January 28, 1954, and is headquartered in Lahore.
- Agriauto Industries manufactures and sell automotive components for motorcycles, and agricultural tractors etc. The current market value of the company is $105 million.
- Cherat Packaging makes and sells paper sacks and polypropylene bags for the cement industry of Pakistan and has a market value of $64 million.
- Ghandhara Industries, founded on February 23, 1966, makes vehicles varying from pickup, trucks, and buses. The current market value of the company is $113 million.
- Searle Company is engaged in making pharmaceutical and consumer products. The company has highest market value when comparing it to other companies included in the list. As of now the market value of the company stands at $696 million.
Chinese companies have dominated the list, securing almost half the numbers in the list. Moreover, Pakistan’s arch rival India is down to three companies on the list.