B.F. Modaraba — Annual Report 2025

Nov 21, 2025

B.F.MODARABA CORPORATE BRIEFING FOR THE FINANCIAL YEAR 2024-25

1. INTRODUCTION

PREFACE : B.F Modaraba is a unit of Amin Bawany Group , which is a leading business group having interest in diversified businesses such as insurance, leasing, particle board, sugar, ethanol, food, Digital Marketing and other important business sectors of Pakistan.

B.F.Modaraba managed by E.A.Management (Pvt) Ltd., was established in 1989 as a perpetual multi -purpose and multi- dimensional Modaraba and is listed on Pakistan Stock Exchange. Share capital and certificate holder equity of the Modaraba are Rs. 75,151,587 and Rs. 176,844,526 respectively, whereas breakup value of shares Rs. 22.75

The Modaraba activities are Leasing, which is covering the corporate enterprise to individuals entrepreneurs, long term and short term Murabaha and Musharika, equity market and investment operation, trading and other mode which are not against the injunction of Islam.

2. REVIEW OF OPERATIONS 2024-25

Gross revenues during the year were Rs.33.145 million vis-à-vis Rs. 18.445 million for the corresponding period of 2023-24, shown significant increase of 80% from last year; major components of revenue were Trading Income, Dividend Income, Profit on Bank Deposits & Diminishing Musharakah Income, and of Rs.17.459 million, 5.024 million, 5.340 and 5.299 million respectively. Thus, Pre-tax profit stood at Rs. 14.697 million against a Pre-tax loss of Rs.6.269 million for the corresponding period of 2023-24. Therefore, earning per certificate stood at Rs. 1.96. Equity Market index showed a significant upward trend of 60% closed at 125,627 points as on June 30, 2025 (2024: 78,444 points). Positive impact was reflected in our portfolio investment valuation and unrealized gain of marketable securities stood at Rs. 21.472 million (2024: Unrealized Loss was Rs. 17.605) shown in the equity as on balance sheet date.

3. FUTURE OUTLOOK

During the financial year ended June 30, 2025, Pakistan’s economy demonstrated a strong recovery, supported by political stability. In line with these favorable macroeconomic conditions, BF Modaraba delivered a profitable performance through investments in marketable securities and sugar trading. The management recognizes the importance of timely and efficient deployment of resources to fully leverage these prospects and sustain long-term value creation. The workshop business, established in collaboration with Sustainable Environment Developers (SED), was adversely impacted by the earlier economic slowdown and elevated interest rate environment. However, with improving macroeconomic conditions, the business has begun to show signs of recovery, and management anticipates a higher volume of orders in the coming periods. Looking ahead, management remains confident that the prevailing economic momentum, combined with BF Modaraba’s strategic initiatives, will support continued growth and profitability. The Company will maintain its focus on:

• Prudent risk management

• Diversification of income streams

• Strengthening of market position

• Exploration of new opportunities to enhance stakeholder value

4. KEY OPERATING AND FINANCIAL DATA

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5. KEY BUSSINESS AREA

MARKETALE SECURITES

The PSX 100 Index reaching a record high of around 125,627 is a significant milestone for Pakistan's stock market, signaling investor confidence and a positive market sentiment. This surge is likely linked to broader signs of economic recovery, which could be driven by factors such as improved political stability, easing inflation, favorable fiscal policies, or external factors like better trade balances or foreign investment inflows.

Three years KSE-100 index Trend are as below

KSE 100 INDEX END OF 2022-23 AT 41,452 POINTS (HIGH = 43,676 , LOW = 38,443 POINTS) KSE 100 INDEX END OF 2023-24 AT 78,444 POINTS (HIGH = 78,784 , LOW = 41,606 POINTS) KSE 100 INDEX END OF 2024-25 AT 125,627 POINTS (HIGH = 125,627 , LOW = 78,444 POINTS)

QUESTIONS & ANSWERS