Pakistan’s Ferozsons Laboratories ranked second position as its gross sales grew 93% final year
Five Pakistani corporations have made it to Forbes annual Asia’s Best 200 Under A Billion list, Pakistani decreased down from seven companies last year to five, however it’s ahead of India having only three companies on the list.
Pakistani corporations have made it to 2017 Forbes list includes Agriauto Industries, Cherat Packaging, Ferozsons Laboratories, Ghandhara Industries and Searle Company.
According to the list, of the five Pakistani companies, Searle Company topped the list in terms of market value with $696 million.
Ferozsons was on top in terms of net income with $21 million. Ferozsons Laboratories Limited made it to the list for the second time, grew 93 per cent last year. Sales of the company’s oldest and largest pharmaceutical manufacturing companies grew 93% last year, a Forbes report said.
As far as India is concerned, which had its 11 companies appearing on the list in 2015, had only three appearances in this year’s list. The decline in its presence began with an economic deceleration in 2013.
Pakistan’s financial ally — China continues to dominate and account for half of the Forbes list. China, with over 70 entries, dominated the list with Japan getting 38 entries this year.
Among China’s companies, health care related ones from Greater China have stepped up their game this year. Shanghai RAAS Blood Products, which supplies albumin, immunoglobulin and other blood products from human plasma, is making a fourth appearance. China’s blood product market is expected to double to US$7 billion by 2021.
Thinly-traded companies, those trading for less than a year, and those “with worrisome accounting, management, ownership or legal troubles” were excluded from the list, Forbes said.
Forbes Best Under A Billion list annually highlights 200 Asia-Pacific public companies with less than $1 billion in revenue and consistent top- and bottom-line growth. This year’s candidates come from 13 countries and averaged 55% growth in sales, a 24% profit margin, and 113% growth in earnings per share.
According to the report, out of 200 companies, only 70 of these small- to medium-sized companies generated revenue solely within the region. Overall consumer products and services companies have been on the rise on the list, an indication of Asia’s success in moving towards a consumer economy.