First Capital Securities Corporation — Interim / Quarterly Report 2026

Apr 28, 2026

REGISTERED OFFICE: FIRST CAPITAL HOUSE 96-B/1, Lower Ground Floor, M.M. Alam Road, Gulberg-III, Lahore. Tel: +92-42-35778217-8

28 April 2026

FCSC/CS/04/2026/

The Managing Director Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road Karachi

Dear Sir,

FINANCIAL RESULTS FOR THE NINE MONTHS AND QUARTER ENDED 31 MARCH 2026

We have to inform you that the Board of Directors of First Capital Securities Corporation Limited (the Company") in their meeting held on 28 April 2026 at 12:15 p.m. at Lahore have recommended the followings:

BONUS SHARES	N i
CASH DIVIDEND	Nil
RIGHT ISSUE	Nil

Financial Results for the nine months and quarter (unconsolidated and consolidated) ende 1 31 March 2026 are attached.

• 1. Copy of Profit and Loss Account
• 1. Statement of Financial Position
• 1. Statement of Change in Equity
• 1. Statement of Cash Flows

According to PSX notice No. PSX/N-5036 dated 03 September 2018, We are transmitting he quarterly accounts of the Company within the stipulated time to FSX electronically, through Pakistan Unified Corporate Action Reporting System (PUCARS)

The financial statements of the Company will also be placed on Company's Website i.e www.pacepakistan.com

Yours truly, For First Capital Securities Corporation Limited

$9$ llad Sajjad Ahmad Company Secretary

CC: - The Executive Director Supervision Division Listed Companies Department Securities and Exchange Commission of Pakistan NIC Building, Jinnah Avenue Islamabad.

FIRST CAPITAL SECURITIES CORPORATION LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UNAUDITED) AS AT MARCH 31, 2026

		Un-Audited	Audited
		31 March	30 June
		2026	2025
	Note	Rupees	Rupees
NON-CURRENT ASSETS
Property, plant and equipment	5	10,002,213	171,100,643
Investment properties	6	4,031,198,097	4,352,149,297
Long term investments	7	2,815,001,123	2,245,593,482
Long term deposits		37,500	37,500 6,768,880,922
CURRENT ASSETS		6,856,238,933
Loans, advances, prepayments and other receivables		36,960,005
Short term investments	7	71,542,086	50,937,909
Advance tax		1,344,464	1,253,877
Cash and bank balances		57.539,046	459,929
		167,385,601	52,651,715
CURRENT LIABILITIES			59,008,229
Trade and other payables	8	64,823,427 1,341,696,364	1,341,696,364
Current portion of long term loan		1,987,259,299	1,819,888,659
Accrued markup		3,393,779,090	3,220,593,252
		3,629,845,444	3,600,939,385
NON-CURRENT LIABILITIES
Long Term Loan		339,732,111	436,363,636
Staff retirement benefits payable		3,500,650	3,070,908
		343,232,761	439,434,544
CONTINGENCIES AND COMMITMENTS	9
NET ASSETS		3.286.612.683	3.161.504.841
REPRESENTED BY:
EQUITY
SHARE CAPITAL AND RESERVES
Authorized share capital:
320,000,000 (June 2025: 320,000,000) ordinary shares of Rs. 10
each		3,200,000,000	3,200,000,000
Issued, subscribed and paid-up capital		3,166,101,120	3,166,101,120
Revaluation surplus			159,333,333
Accumulated losses		120,511,563	(163, 929, 612)
		3,286,612,683	3,161,504,841

The annexed notes 1 to 15 form an integral part of these financial statements.

$\overline{OC}$ eel

Chief Executive Officer

$\mathbf{r}$

Chief Financial Officer

Director

FIRST CAPITAL SECURITIES CORPORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT OR LOSS (UNAUDITED)
FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31 MARCH 2026

	Nine Months Ended		Three Months Ended
	31 March 2026	31 March 2025	31 March 2026	31 March 2025
	Rupees			Rupees
Revenue
Dividend income gain on disposal of short term investment	186,242,754	589,288 3.540.650	68,774,390	58,613 3,540,650
Unrealized gain/(loss) on re-measurement of 'investments at fair value through profit or loss' Gain on disposal of investment properties	137,157,489 5,730,800	37,970,223	(15, 361, 375)	(47,827,904)
	329,131,043	42,100,161	53,413,015	(44, 228, 641)
Expenses
Operating and administrative expenses	(13, 347, 917)	(10,714,726)	(3,721,534)	(3,804,647)
Operating profit	315,783,126	31,385,435	49,691,481	(48,033,288)
Other income	4,636,463	242,348	88,351
Finance cost	(167, 375, 334)	(268, 561, 142)	(51, 261, 208)	(82, 814, 203)
Profit/(loss) before income tax and final tax differential	153,044,255	(236,933,359)	(1,481,376)	(130, 847, 491)
Levy expense	(27,936,413)	(79, 603)	(10, 316, 158)
Profit/(loss) before taxation	125,107,842	(237, 012, 962)	(11,797,534)	(130, 847, 491)
Taxation Profit/(loss) after taxation for the period	125,107,842	(237, 012, 962)	(11,797,534)	(130, 847, 491)
Earning/(loss) per share - basic and diluted	0.40	(0.75)	(0.04)	(0.41)

The annexed notes 1 to 15 form an integral part of these financial statements.

ung Paleer een

Chief Executive Officer

Chief Financial Officer

Director

FIRST CAPITAL SECURITIES CORPORATION LIMITED

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)

FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31 MARCH 2026

	Nine Months Ended		Three Months Ended
	31 March 2026	31 March 2025	31 March 2026	31 March 2025
	Rupees			Rupees
Profit/(loss) after taxation for the period	125,107,842	(237, 012, 962)	(11,797,534)	(130, 847, 491)
Other comprehensive income for the period:
Items that will never be reclassified to profit and loss:	$\bullet$
Other comprehensive income for the period
Total comprehensive income/(loss) for the period	125,107,842	(237, 012, 962)	(11,797,534)	(130, 847, 491)

The annexed notes 1 to 15 form an integral part of these financial statements.

amor lace $22/$

Chief Executive Officer

Chief Financial Officer

FIRST CAPTAL SECURITIES CONFORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 3 1 MARCH 2026

	Issued, subscribed and paid up capital	Revaluation reserves	Accumulated losses	Total
			Rupess
Balance as at July 01, 2026 (andited)	3,166,101,120		(1,352,961,133)	1,813,139,987
Loss for the period Other comprehensive income for the period			(237,012,962)	(237,917,962)
Total comprehensive loss for the period			(237.012.962)	(237,012,962)
Balance as at December 31, 2026 (un-andited)	3,166,101,120		(1,509,974,095)	1,576,127,025
Balance as at July 01, 2025 (audited)	3,166,101,120	159,333,333	(163,929,612)	3,161,504,841
Profit for the period			125,107,842	125,107,842
Total comprehensive profit for the period Other comprehensive income for the period
Tranfer of revaluation surplus on account of incremental depreciation		(2,881,096)	2,881,096
Revaluation surplus transfer to retained earning Other comprehensive income for the period - net of tax		(156, 452, 237)	156,452,237
Total comprehensive profit for the period - net of tax		(159, 333, 333)	284,441,175	125,107,842
Balance as at December 31, 2026 (un-audited)	3,166,101,120		120,511,563	3,286,612,683

The annexed notes 1 to 15 form an integral part of these financial statements

agger Euro

Chief Executive Officer

Chief Financial Officer

FIRST CAPITAL SECURITIES CORPORATION LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASH FLOWS (UNAUDITED)
FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31 MARCH 2026

$\cdot$

31 March 31 March 2025 2026 Rupees Cash flows from operating activities (236,933,359) 153,044,255 Profit/(loss) before taxation Adjustments for: 268,561,142 167,375,334 Finance cost Unrealized gain on re-measurement of investments at 'fair (37,970,223) (137, 157, 489) value through profit or loss' 2,217,000 4,646,193 Depreciation (589, 288) (186, 242, 754) Dividend Income (242, 348) (373, 555) Interest income (5,730,800) Gain on disposal of investment property (3,547,763) gain on disposal of PPE 501,558 429,742 Provision for staff retirement benefits 232,477,841 (160, 601, 092) (4,455,518) (7, 556, 837) Loss before working capital changes Effect on cash flow due to working capital changes (Increase)/decrease in current assets: (36,960,005) Loans, advances, prepayments and other receivables (Decrease)/increase in current liabilities: (5,936,340) 5,815,198 Trade and other payables (5,936,340) (31, 144, 807) (10, 391, 858) (38,701,644) Cash used in operations Increase in non-current liabilities: (962) (4, 694) Finance cost paid (989, 973) (28,027,000) Taxes and levies paid / adjusted-net (990, 935) (28,031,694) (11, 382, 793) (66,733,338) Net cash used in operating activities Cash flows from investing activities 326,682,000 Sale of investment property 160,000,000 Proceeds from disposal of property, plant and equipment (452, 854, 329) Investment in subsidiaries 9,969,336 Disposal of short term investment 174,619 186,242,754 Dividend received 373,555 242,348 Interest received 220,443,980 10,386,303 Net cash generated from investing activities Cash flows from financing activities (96, 631, 525) Loan repaid during the period (96, 631, 525) Net cash generated from/(used in) financing activities 57,079,117 Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year 459,929	Nine Months Ended
		(996, 490)
		12,387,540
57,539,046 Cash and cash equivalents at the end of the year		11,391,050

The annexed notes 1 to 15 form an integral part of these financial statements.

alco Q eer

Chief Executive Officer

Chief Financial Officer Direct

FIRST CAPITAL SECURITIES CORPORATION LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT MARCH 31, 2026

$\overline{\mathcal{X}}$

			Un-Audited	Audited
	ö		31 March	30 June
			2026	2025
		Note	Rupees	Rupees
Non-current assets		5	284,767,800	462,923,076
Property, plant and equipment			2,500,000	2,500,000
Intangible assets			5,092,574,097	5,413,525,297
Investment properties		6	632,553,992	625,625,609
Investments accounted for using the equity method Long term investments			265,000	30,513,240
Long term deposits and advances - considered good			88,681,108	88,739,605
Deferred tax				1.863,291
			6,101,341,997	6,625,690,118
Current assets
Stock in trade			286,312,049	102,277,160
Trade debts			916,726,412	1,270,029,684
Loans, advances and other receivables			165,733,103	131,328,300
Prepayments			4,989,233	2,551,925
Short term investments		6	907,172,075	996,663,863
Cash and bank balances			129,178,640	98,630,016
			2.410,111,512	2,601,480,948
Current liabilities
Trade and other payables			892,095,076	1,295,370,003
Current portion of mobilization advance			44,118,112	120,848,250
Current portion of lease liability			23,658,574	21,616,886
Current portion of long term loans			2,029,393,600	1,349,202,364
Accrued markup			1,987,259,299	1,819,888,659
Provision for taxation			159,289,335	165,500,063
			5,135,813,996	4,772,426,225
Net current assets/(liability)			(2,725,702,484) 3,375,639,513	(2,170,945,277) 4,454,744,841
Non-current liabilities
Staff retirement benefit			32,178,221	28,484,299
Long term loans			339,732,111	1,071,020,849
Mobilization advance				8,276,550
Long term lease liability			12,728,573	18,993,436
		$\overline{7}$	384,638,905	1,126,775,134
Contingencies and commitments			2,991,000,608	3,327,969,707
Represented by
Equity
Share Capital and Reserves
Authorized share capital:			3,200,000,000	3,200,000,000
320,000.000 (2023: 320,000,000) ordinary shares of Rs 10
			3,166,101,120	3,166,101,120
Issued, subscribed and paid-up share capital			78,714,484	94,854,474
Exchange translation reserve			(156, 724, 146)	480,054,923
Reserves capitalized				159,333,333
Revaluation surplus			(865, 033, 927)	(1,089,494,476)
Retained earnings			2,223,057,531	2,810,849,374
Equity attributable to owners of the Parent Company			767,943,077	517,120,333
Non-controlling interests (NCI)
			2,991,000,608	3,327,969,707
The annexed notes 1 to 14 form an integral part of this equidensed interim consolidated financial statements.
suverfalser
	Chief Financial Officer			Kor
Chief Executive Officer

FIRST CAPITAL SECURITIES CORPORATION LIMITED
CONSOLIDATED CONDENSED STATEMENT OF PROFIT OR LOSS - (Un-Audited)
FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31 MARCH 2026

	Nine months ended		Quarter ended
Note	31 March		31 March
	2026	2025	2026	2025
	Rupees		Rupees
CONTINUED OPERATIONS				133,699,832
Operating revenue	1,570,997,817	321,491,993	532,141,455 (296, 298, 464)	(19, 405, 979)
Direct costs	(807, 959, 754)	(79, 492, 858)	235,842,991	114,293,853
Gross profit	763,038,063	241,999,135
Unrealized gain on re-measurement of 'investments at fair value through profit or loss'			(190,681,389)	(44,536,453)
Operating and administrative expenses	62,958,315 (330,294,093)	89,339,840 (221,020,986)	(90, 719, 141)	(93, 472, 377)
Operating profit	495,702,285	110,317,989	(45,557,539)	(23, 714, 977)
Other income	87,884,398	65,069,152	23,019,921	21,977,410 (85, 549, 864)
Finance costs	(233,046,238)	(275, 924, 511)	(72,778,336) (95, 315, 954)	(87, 287, 431)
Share of loss from investments accounted for	350,540,445	(100, 537, 370)
using the equity method - net of tax	7,040,883	(12,701,979)		(2,865,054)
Profit/(loss) before income tax and final tax differential	357,581,328	(113, 239, 349)	(95, 315, 954)	(90, 152, 485)
			(30,029,698)	(26, 100, 712)
Final tax differential	(74, 119, 676)	(32, 435, 609)
Profit/(loss) before taxation	283,461,652	(145, 674, 958)	(125, 345, 652)	(116, 253, 197)
Taxation	(116,504,372)		(37,673,003)
Profit/(loss) after taxation for the period	166,957,280	(145, 674, 958)	(163, 018, 655)	(116, 253, 197)
DISCONTINUED OPERATION
Loss after taxation from discontinued operation	(601, 263)	(518,067)	(163, 895)	(61, 252)
Profit/(loss) after taxation for the period	166,356,017	(146, 193, 025)	(163, 182, 550)	(116, 314, 449)
8
Basic and diluted loss per share - from continued operation	0.21	(0.61)	(0.49)	(0.38)
Basic and diluted loss per share - from discontinued
8 operation	(0.001)	(0.001)	(0.0004)	(0.0001)
Profit/(loss) attributable to:
- Owners of the parent company	65,127,216	(194, 387, 373)	(155, 916, 710)	(120,617,703)
- Non-controlling interests	101,228,801	48,194,348	(7,265,840)	4,303,254
Profit/(loss) for the period	166,356,017	(146, 193, 025)	(163, 182, 550)	(116, 314, 449)

The annexed notes 1 to 14 form an integral part of this condensed interim consolidated financial statements.

aged Oλ Ferear Chief Financial Officer

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Chief Executive Officer

FIRST CAPITAL SECURITIES CORPORATION LIMITED

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME - (Un-Audited) FOR THE QUARTER AND NINE MONTHS PERIOD ENDED 31 MARCH 2026

Profit/(loss) after taxation Other comprehensive income/(loss) for the period Items that will not be reclassified to profit or loss:	Half year ended 31 December 2026 Rupees 166,356,017 ٠	2025 (146, 193, 025)	31 December 2026 Rupees (163, 182, 550)	2025 (116, 314, 449)
Remeasurement of defined benefit plan - net of tax Revauation of plant and machinery Items that may be subsequently reclassified to profit or loss:
Share of other comprehensive income/(loss) of investments accounted for using the equity method - net of tax Exchange differences on translation of foreign operations
recognised as: - Exchange translation reserve - Non-controlling interests Other comprehensive income for the period Total comprehensive (loss)/profit for the period	(16, 139, 990) (15, 507, 049) (31, 647, 039) 134,708,978	10,741,781 10,320,534 21,062,315 (125, 130, 710)	(3,894,704) (3,741,970) (7,636,674) (170, 819, 224)	(1,259,999) (1,210,588) (2,470,587) (118,785,036)
Total comprehensive (loss)/income attributable to: - Owners of the Parent Company - Non-controlling interests	48,987,226 85,721,752 134,708,978	(183, 645, 592) 58,514,882 (125, 130, 710)	(159, 811, 414) (11,007,810) (170, 819, 224)	(121, 877, 702) 3,092,666 (118,785,036)

The annexed notes 1 to 14 form an integral part of this condensed interim consolidated financial statements.

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Chief Executive Officer

n)

Chief Financial Officer

Chief Executive Officer Pel ania pree	The annexed notes 1 to 14 form an integral part of this condensed interim consolidated financial statements.	Balance at 31 March 2026	Transaction with owners Dividend paid to non-controlling interest Fair value reserves at initial acquisition Non-controlling interests at initial acquisition	Revaluation surplus transfer to retained earning uncreureuran acpreciation surplus on account of incremental depreciation Transfer of revaluation surplus on account of incremental depreciation Other comprehensive income Total comprehensive income/(loss) for the period Loss for the period incremental depreciation - net of tax	Balance at 30 June 2025 - (Audited) Balance at 31 March 2025	Dividend paid to non-controlling interest	Other comprehensive income/(loss) for the period Total comprehensive income/(loss) for the period Loss for the period	Balance at 30 June 2024 - (Audited)	FOR THE NINE MONTHS PERIOD ENDED 31 MARCH 2026 CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY - (Un-Audited) FIRST CAPITAL SECURITIES CORPORATION LIMITED
		3,166,101,120	$\mathbf{v}$		3,166,101,120 3,166,101,120			3,166,101,120	capital Share
		78,714,484		(16'139'960) (16, 139, 990)	94,854,474 94,205,563		10,741,781 10,741,781	83,463,782	translation reserve Exchange
				$(2,881,096)$ $(156,452,237)$ (159,333,333)	159,333,333				Attributable to owners Revaluaution Reserve
Chief Financial Officer		(156, 724, 146)	(636,779,069) (636,779,069)		480,054,923 480,054,923		$\blacksquare$	480,054,923	capitalised of the Company Reserve ----------- Rupees
ANGELER		(865, 033, 927)	$\blacksquare$	×, 156,452,237 224,460,549 65,127,216 2,881,096	(1,089,494,476) (2,348,969,149)		(194,387,373) (194,387,373)	(2,154,581,776)	Retained earnings
		2,223,057,531	(636,779,069) (636,779,069)	(16, 139, 990) 65,127,216 48,987,226	2,810,849,374 1,391,392,457		(183, 645, 592) (194,387,373) 10,741,781	1,575,038,049	Total
Director		767,943,077	(178,873,579) 343,974,571 165,100,992	101,228,801 (15,507,049) 85,721,752	517,120,333 461,379,243		58514,882 10,320,534 48,194,348	402,864,361	Non-controlling nterests
		2,991,000,608	(471,678,077) (636,779,069) [178,873,579] 343,974,571	134,708,978 166,356,017 (31,647,039)	3,327,969,707 1,852,771,700		(125, 130, 710) (146, 193, 025) 21,062,315	1,977,902,410	cquity Total

FIRST CAPITAL SECURITIES CORPORATION LIMITED CONSOLIDATED CONDENSED INTERIM CASH FLOWS - (Un-Audited) FOR THE NINE MONTHS PERIOD ENDED 31 MARCH 2026

	٨	Half year ended
		31 March
	Note	2026	2025
		Rupees
Cash flows from operating activities
Cash used in operations	9	202,215,004	(19,532,558)
Long term deposits and advances		58,497	(35, 143)
Retirement benefits paid - net		2,971,803	(998, 824)
Finance costs paid		(65, 675, 598)	(7,364,331)
Taxes paid		(66,854,563)	(675, 167) (28, 606, 023)
Net cash generated from/(used in) operating activities		72,715,143
Cash flows from investing activities
Fixed capital expenditure		(32,771,242)	(3,845,881)
Short term investments - net		152,450,103	(36, 616, 985)
Proceeds from sale of property, plant and equipment		170,837,905
Proceeds from disposal of investment property		320,951,200
Investment available for sale - net		30,360,740	(13, 399, 203)
Dividend received		68,212	5,113,984
Purchase of Subsidiary - Pace Super mall		(453, 410, 417)
Interest received		70,778,728	52,665,252
Net cash generated from investing activities		259,265,229	3,917,167
Cash flows from financing activities
Repayment of liabilities against assets subject to finance lease - net		(4,223,175)	4.291,723
Receipt/(payment) of loan		(51,097,502)
Dividend paid to non-controlling interest		(178, 873, 579)
Long term loans		(51,097,502)
Net cash generated from/(used in) financing activities		(285, 291, 758)	4,291,723
Net increase (decrease) in cash and cash equivalents		46,688,614	(20, 397, 133)
Cash and cash equivalents at the beginning of the period		98,630,016	62,709,264
Effect of exchange translation reserve		(16, 139, 990)	21,062,315
Cash and cash equivalents at the end of the period		129,178,640	63,374,446

The annexed notes 1 to 14 form an integral part of this condensed interim consolidated financial statements.

11 a large useer

Chief Executive Officer