Kochi, 3rd December 2012: AVT Natural Products Ltd, Cochin has been recognized by Forbes as one among 200 best companies from Asia-Pacific region with under $1billion revenue. The award function held in Singapore on 29th November, 2012 to honour the Companies of this elite list was attended by dignitaries from around the world. Mr. Ajit Thomas, the Chairman of AVT Natural and Mr. M.S.A. Kumar, the company’s Managing Director represented AVT Natural in this grand function. Mr. Ajit Thomas received the prestigious award from Mr. Christopher Forbes, the Vice-Chairman of Forbes Media LLC.
The list published on August 18, 2012 is based on the financial data of the preceding 12 months. AVT Natural with US$ 47 Million (Rs 260 Crores) Sales, US$ 11 Million (Rs 60 Crores) Net Income and US$ 52 Million (Rs 290 Crores) Market Capitalization, is one among 23 companies from India to find a place in this esteemed list. AVT Natural is part of AV Thomas Group of companies based in South India.
The list recognises the importance of small and medium enterprises in powering the Asia-Pacific economy. It comprises of companies from China & Hong Kong (72), India (23), Taiwan (23), South Korea (16), Malaysia(14), Australia(14), Vietnam(8), Indonesia(7), Thailand(6), Japan(4), Singapore(4), Philippines(3), Pakistan(3), Sri Lanka(2), and New Zealand(1).
The final list of 200 awardees was selected from a universe of 15000 companies from Asia Pacific region. Only publicly traded profitable companies with revenue greater than $5 million but less than $1 billion were considered for the list. It was further trimmed down based on business performance indicators like sales and earnings growth as well as the return on equity delivered in the preceding 12 months and over three years. The list was further scrutinized to remove companies which are thinly traded on the stock exchanges and those facing accounting or major legal troubles.
To quote Forbes: “A weak global economy has not slowed down these companies from Asia-Pacific. Against the backdrop of a fragile global economy, the makeup of our Best Under A Billion demonstrates why small and medium-size enterprises are considered essential to Asia-Pacific.”
(Enclosed Photograph: Mr. Ajit Thomas, Chairman, AVT Natural Products Ltd receives the award from Mr. Christopher Forbes, Vice Chairman, Forbes Media LLC. Seen in the picture is Mr. Lee Yi Shyan, Senior Minister, Commerce & Trade, Government of Singapore and Mr. Steve Leonard, Senior Vice President, EMC2, USA.)