AI assistant
B.F. Modaraba Annual Report 2025
71663_rns_2025-10-02_4a3e4b07-8e07-4374-8885-86d6a5d150b3.pdf
Annual Report
Open in viewerOpens in your device viewer
B. F. Modaraba
Managed By E.A. Management (Pvt.) Ltd.
October 02, 2025
Ref No: BF-755/2025
The General Manager, Pakistan Stock Exchange Limited Stock Exchange Building, Stock Exchange Road, Karachi.
FINANCIAL RESULTS OF B. F. MODARABA (BFM) FOR THE YEAR ENDED JUNE 30, 2025
Dear Sir.
We have to inform you that the Board of Directors of the E.A Management (Pvt.) Ltd., the Management Company of B.F.Modaraba in their Meeting held on October 02, 2025 at 12:45 p.m; approved the accounts of BFM for the year ended June 30, 2025 and approved the following:
1. CASH DIVIDEND
A final Cash Dividend for the year ended June 30, 2025 at Re. $\mathbb{N}^{\dagger}$ per certificate i.e. $\mathbb{N}^{\dagger}$
$AND/OR$
AND/OR
- BONUS ISSUE
NIL
3. RIGHT CERTIFCATES
NIL.
The financial results of B. F. Modaraba are enclosed.
The Annual Review Meeting of the Modaraba will be held on October 27, 2025 at 4:00 p.m. at the Plot No. 43-1-E, P.E.C.H.S, Block-6, Off Razi Road, Shahrah-e-Faisal, Karachi.
Cont'd............... $P/2$ .
B.F.MODARABA Plot No. 43-1-E, P.E.C.H.S, Block-6, Off Razi Road, Shahrah-e-Faisal, Karachi. Pakistan. UAN: (92-21) 111-229-269, Fax: (92-21) 34322864 E-mail: [email protected], [email protected], URL: www.bfmodaraba.com.pk
B. F. Modaraba
Managed By E.A. Management (Pvt.) Ltd.
$(Page 2)$
For the purpose of ascertaining entitlement of aforementioned Cash Dividend, the certificate transfer books of the Modaraba will be closed from October 21, 2025 to October 27, 2025 (both days inclusive). Transfers received at the share registrar office of the Modaraba, M/s. C & K Management Associates (Pvt) Ltd., at M-13, Progressive Plaza, Plot No. 5 - CL - 10, Civil Lines Quarter, Beaumont Road, Karachi, at the close of business on October 20, 2025 will be treated in time for the purpose of above entitlement to the transferees.
The Annual Report of the Company will be transmitted through PUCARS atleast 21 days before holding of Annual Review Meeting.
Thanking you,
Yours faithfully,
MUHAMMAD AYUB CFO & Company Secretary
B.F.MODARABA Plot No. 43-1-E, P.E.C.H.S, Block-6, Off Razi Road, Shahrah-e-Faisal, Karachi. Pakistan. UAN: (92-21) 111-229-269, Fax: (92-21) 34322864 E-mail: [email protected], [email protected], URL: www.bfmodaraba.com.pk
| Statement of Financial Position | |||
|---|---|---|---|
| As at June 30, 2025 | 2025 | 2024 | |
| ASSETS | Note | -------------Rupees------------- | |
| Non-current assets | |||
| Furniture and equipment | 4 | 13,305 | 15,120 |
| Long term deposits | 5 | 40,019 | 40,019 |
| Long term investments | 6 | 52,543,309 | 51.322,228 |
| Diminishing Musharaka | 7 | 3,682,029 | 17,926,053 |
| 56,278,662 | 69.303.420 | ||
| Current assets | |||
| Prepayments and other receivables | 9 | 10,807,273 | 8,418,093 |
| Current portion of Diminishing Musharaka | 7 | 13,798,999 | 11,103.718 |
| Advance tax - net | 57,186 | 3.522,113 | |
| Stock in trade | 10 | 54,025,400 | 41,689,549 |
| Cash and bank balances | II | 41,877,006 | 11,553,945 |
| 120,565,864 | 76,287,418 | ||
| Total assets | 176,844,526 | 145,590.838 | |
| LIABILITIES AND EQUITY | |||
| Current liabilities | |||
| Trade and other payables | 12 | 1,925,149 | 1.673,986 |
| Due to Management Company | 19 | 2,245,308 | 854.221 |
| Unclaimed dividend | 1,690,889 | 1,690,889 | |
| 5,861,346 | 4,219.096 | ||
| Certificate holders' equity | |||
| Certificate capital | 13 | 75,151,587 | 75,151.587 |
| Reserves | $1+$ | 74,359,894 | 48,615,351 |
| 149,511,481 | 123.766,938 | ||
| Unrealized gain / (loss) on re-measurement of investments | |||
| classified as fair value through other comprehensive income | 15 | 21,471,699 | 17.604,802 |
| Total liabilities and equity | 176,844,526 | 145,590,838 | |
| Contingencies and commitments | 16 |
The annexed notes from 1 to 26 form an integral part of these financial statements.
| FOR E.A Management (Private) Limited | |
|---|---|
| (Management Company) |
$\overline{\text{Chairman}}$
Chief Executive
15
Chief Financial Officer Director
$RV$
Statement of Profit or Loss
For the year ended June 30, 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | -------------Rupecs------------- | ||
| Revenue - net | |||
| Trading Income | 17,458,808 | 4,496,483 | |
| Dividend - net of Zakat | 17 | 5,023,879 | 5,985,854 |
| Profit on bank deposits | 5,339,785 | 1,234,895 | |
| Diminishing Musharakah income | 5,298,829 | 6,727,795 | |
| Unrealised gain / (loss) on remeasurement of | |||
| investments in units of mutual funds | 23,821 | ||
| 33, 145, 122 | 18,445.027 | ||
| Administrative expenditure | |||
| Operating expenses | 18 | (10, 692, 038) | (10, 244, 566) |
| Other income | 341.744 | ||
| Profit / (loss) before charging Management Company's remuneration |
22,453,084 | 8,542,205 | |
| Management Company's remuneration | 19 | (2, 245, 308) | (854, 221) |
| Provision for Worker's Welfare Fund | (404, 156) | (153,760) | |
| Profit / (loss) before taxation | 19,803,620 | 7.534,224 | |
| Final Taxes | 20 | (819,774) | (815, 182) |
| Income tax | |||
| Current Tax- For the year | (4, 286, 650) | (449, 653) | |
| -Prior year | |||
| Deferred tax | |||
| Profit / (loss) after taxation | 14,697,196 | 6,269,389 | |
| Earning / (loss) per certificate - basic and diluted | 21 | 1.96 | 0.83 |
| 山 |
The annexed notes from 1 to 26 form an integral part of these financial statements.
FOR E.A Management (Private) Limited (Management Company)
Chairman
Chief Executive
Director
Chief Financial Officer
16
Statement of Changes in Equity
For the year ended June 30, 2025
| Reserves | |||||
|---|---|---|---|---|---|
| Certificate capital | Sintatory reserves |
Unappropriated profits |
Total Reserves | Total | |
| -Rupees---------------------------- | |||||
| Balance as at June 30, 2023 | 75,151,587 | 50,255,171 | (9.020, 290) | 41,234,881 | 116.386.468 |
| - Profit after taxation | 6.269.389 | 6,269,389 | 6.269.389 | ||
| - Other comprehensive income | 6.269.389 | 6.269.389 | 6,269.389 | ||
| - Profit realized on disposal of investments in ordinary shares of listed companies |
1.111.081 | 1.111.081 | 1.111,081 | ||
| Balance as at June 30, 2024 | 75,151,587 | 50,255,171 | (1,639,820) | 48,615,351 | 123.766.938 |
| Total comprehensive income for the year ended June 30, 2025 |
|||||
| - Profit after taxation - Other comprehensive income |
14,697,196 | 14,697,196 | 14,697,196 | ||
| 14.697,196 | 14.697.196 | 14,697,196 | |||
| - Profit realized on disposal of investments in ordinary shares of listed companies |
11,047,347 | 11.047.347 | 11.047,347 | ||
| Balance as at June 30, 2025 | 75.151.587 | 50.255.171 | 24,104,723 | 74.359.894 | 149.511.481 |
* As per Circular No. SC/M/PRDD/PRs/2017-259 dated December 11, 2017 issued by the SECP, the surplus on revaluation of investments has not R been included in the equity.
The annexed notes from 1 to 26 form an integral part of these financial statements.
FOR E.A Management (Private) Limited (Management Company)
Chairman
Chief Executive
Director
Chief Financial Officer
ł
$18$
Statement of Cash Flows
For the year ended June 30, 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | ------------Rupees------------- | ||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Profit / (loss) before taxation | 19,803,620 | 7,534,224 | |
| Adjustments for non-cash charges and other items: | |||
| - Depreciation on furniture and equipment | $\overline{4}$ | 1,812 | 2,156 |
| - Profit on bank deposits | (5,339,785) | (1, 234, 895) | |
| - Provision for Provident Fund | 708,504 | 729,290 | |
| - Provision for Worker's Welfare Fund | 404,156 | 153,760 | |
| - Unrealised gain on remeasurement of investments | (23,821) | ||
| - Dividend income - net of zakat | 17 | (5,023,879) | (5,985,854) |
| (9, 273, 013) | (6, 335, 543) | ||
| Operating loss before working capital changes | 10,530,607 | 1,198,681 | |
| Working capital changes | |||
| Decrease / fincrease) in current assets | |||
| - Stock in trade | (12, 335, 851) | 6,359,341 | |
| - Prepayments and other receivables | (2, 115, 677) | 1,249,471 | |
| Increase in current liabilities | |||
| - Trade and other payables | 250,283 | (951,048) | |
| - Due to Management Company | 1,391,087 | 854,221 | |
| (12, 810, 158) | 7,511,985 | ||
| Income tax refund/paid - net | (1,641,497) | (1,027,090) | |
| Provident fund paid to employees | (707, 624) | ||
| Sale of investments - net | 24,511,558 | 12,242,055 | |
| Purchase of Mutual Fund Units | (10,791,241) | ||
| Dividend received | 5,023,879 | 5,985,854 | |
| 16,395,075 | 17,200,819 | ||
| Net cash inflow / (outflow) from operating activities | 14,115,524 | 25,911,485 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Profit received on bank deposits | 5,066,282 | 1,204.030 | |
| Diminishing Musharaka | 11,141,255 | (17, 134, 600) | |
| Net eash (outflow) / inflow from investing activities | 16,207,537 | (15,930,570) | |
| Net increase / (decrease) in cash and cash equivalents | 30,323,061 | 9,980,915 | |
| 11,553,945 | 1,573,030 | ||
| Cash and eash equivalents as at beginning of the year | 41,877,006 | 11,553,945 |
FOR E.A Management (Private) Limited (Management Company)
Chairman
Chief Executive
Director
$\overline{19}$
Chief Financial Officer