While just three Pakistani companies — Highnoon Laboratories, Systems Limited and Tariq Glass Industries — have made it to this year’s Forbes’ Asia’s Best Under a Billion list, 34 Chinese and 32 Indian publicly traded companies dominated the scales.

Prior to this, Highnoon Laboratories, one of Pakistan’s largest and fast-growing companies, made it to the list in 2019, 2021, and 2022.

Meanwhile, Systems Limited was previously included in the list in 2020, 2021 and 2022.

According to the Forbes website, Highnoon Laboratories has a market value of $79 million, Tariq Glass $70 million, and Systems $441 million.

Forbes checks Systems’ net income at $32 million on $155 million in sales. Tariq Glass had bigger sales of $166 million and a net income of $23 million. Meanwhile, Highnoon Labs saw $55 million in sales and $9 million in net income during the period in review.

The annual list recognizes 200 top-performing small and mid-sized companies in the Asia-Pacific region with sales under $1 billion.

Overall, this year’s annual Best Under A Billion list recognizes 200 small and midsized publicly traded companies in the region that outperformed despite stiff global headwinds like inflation and rising funding costs. The standouts are concentrated in chipmaking and related industries.

Other top performers on the coveted list include companies delivering IT solutions for healthcare, logistics and manufacturing, and other industries. Meanwhile, businesses that rely on consumer spending saw an uptick in sales as COVID-19 restrictions faded away. Globally, this year’s list includes 58 returnees from the previous year.

Source: Pro Pakistani