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First Equity Modaraba Interim / Quarterly Report 2026
71990_rns_2025-10-30_9beb8329-79bf-4aa9-bd43-158644d0b8ef.pdf
Interim / Quarterly Report
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First Equity Modaraba
Managed by Premier Financial Service (Private) Limited
Ref. No.: QO-168/2025
October 30, 2025
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The General Manager Pakistan Stock Exchange Limited Stock Exchange Building Stock Exchange Road Karachi :
FIRST EQUITY MODARABA FINANCIAL RESULTS FOR THE PERIOD / QUARTER ENDED SEPTEMBER 30, 2025
Dear Sir,
We have to inform you that the Board of Directors of Premier Financial Services (Pvt.) Ltd the management company of FIRST EQUITY MODARABA has approved the financial statements of the Modaraba for the quarter ended September 30, 2025 in their meeting held on October 29 2025 at 3.30 pm at Karachi and recommended the following:
CASH DIVIDEND
| A Cash Dividend for the period ended September 30, 2025 | |||
|---|---|---|---|
BONUS SHARES
RIGHT SHARES
The financial results of the Modaraba are enclosed.
Yours/truly
Adil A Ghaffar Chief Executive Officer
Encl: a/a
Islamic Finance B-1004, 10th Floor Lakson Square Building # 3, Sarwar Shaheed Road, Karachi. Tel: (92-21) 35672815 E-mail: [email protected]
Islamic Brokerage Room #503-504 Pakistan Stock Exchange Building, Stock Exchange Road, Karachi. Tel: (92-21) 32446020-3 E-mail: [email protected]
FIRST EQUITY MODARABA STATEMENT OF FINANCIAL POSITION (UN-AUDITED)
AS AT SEPTEMBER 30, 2025
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| 棕 Audited |
|||
|---|---|---|---|
| September | June 30, | ||
| 2025 | 2025 | ||
| EQUITY AND LIABILITIES | Note | Rupees | Rupees |
| Capital and reserves | |||
| Certificate capital | |||
| Authorised capital | |||
| 60,000,000 (June 30, 2025: 60,000,000) modaraba | |||
| certificates of Rs. 10 each | |||
| 600,000,000 | 600,000,000 | ||
| Certificate capital | 524,400,000 | 524,400,000 | |
| Reserves | 3 | 49,137,690 | 50,895,891 |
| Remeasurement of define benefit liability - Actuarial gain | 4,013,719 | 4,013,719 | |
| Unrealized loss on re-measurement of investments | 66,802,036 | 33,504,577 | |
| Certificate holders' equity | 644,353,445 | 612,814,187 | |
| Non-current liabilities | |||
| Deferred liabilities | 7,552,903 | 7,552,903 | |
| Security Deposit | 575,000 | 575,000 | |
| Total non-current liabilities | 8,127,903 | 8,127,903 | |
| Current liabilities | |||
| Creditors, accrued and other liabilities | 15,396,158 | 13,139,512 | |
| Unclaimed profit distributions | 31,113,338 | 31,116,073 | |
| Total current liabilities | 46,509,496 | 44,255,585 | |
| Total liabilities | 54,637,399 | 52,383,488 | |
| Contingencies & Commitments | |||
| Total equity and liabilities | 698,990,844 | 665,197,675 |
.
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FIRST EQUITY MODARABA $\mathcal{O}(\log^2\mathcal{E}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}{\mathcal{G}^{\mathcal{G}}_{\mathcal{G}^{\$ STATEMENT OF FINANCIAL POSITION (UN-AUDITED) AS AT SEPTEMBER 30, 2025
| Audited | |||
|---|---|---|---|
| September 30 | June 30, | ||
| 2025 | 2025 | ||
| Note | Rupees | Rupees | |
| Non - current assets | |||
| Fixed assets | |||
| - tangible | |||
| - intangible | 1,454,253 | 1,631,066 | |
| Investment property | |||
| Investments | 721,667 | 751,667 | |
| Advances | 4 | 422,119,707 | 422,119,707 |
| 2,510,000 | 2,510,000 | ||
| Deposits | 1,750,000 | 1,750,000 | |
| Total non-current assets | 428,555,627 | 428,762,440 | |
| Current assets | |||
| Short term investments | 146,399,202 | 122,411,132 | |
| Advances- Considered | 13,728,573 | 13,482,335 | |
| Trade deposits and prepayments | 15,946,634 | 15,618,316 | |
| Other receivables. | 73,202,099 | 65,996,924 | |
| Cash and bank balances | 21,158,709 | 18,926,528 | |
| Total current assets | 270,435,217 | 236,435,235 | |
| Total assets | 698,990,844 | 665,197,675 | |
The annexed notes from 1 to 5 form an integral part of the condensed interim financial information.
Qazi Obaid Ullah
Adil A Ghaffar Chief Financial Officer Chief Executive Premier Financial Services (Private) Ltd. Services (Private) Ltd. Services (Private) Ltd.
Director Premier Financial
Director Premier Financial
3
FIRST EQUITY MODARABA
CONDENSED INTERIM PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025
| September 2025 Rupees |
September 2024 Rupees |
|
|---|---|---|
| Income Expenditure |
5,193,017 | 1,691,086 |
| Operating expenses Bank charges |
(7,087,812) (3,566) |
(4,825,719) (58) |
| (7,091,378) | (4,825,777) | |
| (1,898,361) | (3, 134, 691) | |
| Other income | 223,193 | 90,328 |
| Profit Before Taxation | (1,675,168) | (3,044,363) |
| Minumum Tax Final Tax Current Year Tax |
(81, 926) (1, 106) |
(34, 627) (7,899) |
| Profit after Taxation | (1,758,200) | (3,086,889) |
| Earnings per certificate | (0.034) | (0.059) |
Qazi Obaid Ullah Chief Financial Officer
46 O B
Adil A Ghaffar Chief Executive Director Director Premier Financial Premier Financial Premier Financial Services (Private) Ltd. Services (Private) Ltd. Services (Private) Ltd.
FIRST EQUITY MODARABA
CONDENSED INTERIM STATEMENT OF CASH FLOWS STSTEMENTS(UN-AUDITED) FOR THE QUARTER ENDED SEPTEMBER 30, 2025
| September 2025 |
September 2024 |
|
|---|---|---|
| Rupees | Rupees | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Profit Before Taxation Adjustments for non cash/non operating items: |
(1,675,168) | (3,044,363) |
| Depreciation | ||
| Dividend income | 205,668 | 223,289 |
| (7, 376) | (52,657) | |
| Operating profit before working capital changes | 198,292 | 170,632 |
| (Increase) / Decrease in current assets | (1, 476, 876) | (2,873,731) |
| Advances | ||
| Trade deposits and prepayments | (151, 471) | (143, 820) |
| Other receivables | (328, 318) | 20,724 |
| (7, 253, 562) | (566, 347) | |
| (Decrease) / increase in current liabilities | (7,733,351) | (689, 443) |
| Creditors, accrued and other liabilities | 2,256,646 | (540, 326) |
| Dividend paid | (2,734) | |
| Tax paid | (128, 268) | (188, 211) |
| Net cash used in operating activities | (7,084,583) | (4,291,711) |
| CASH FLOW FROM INVESTING ACTIVITIES | ||
| Investments | 9,309,387 | 3,067,115 |
| Dividends received | 7,376 | 52,657 |
| Tangible assets | 0 | (100, 500) |
| Net cash generated (used in)/from investing | ||
| activities | 9,316,763 | 3,019,272 |
| Net increase / (decrease) in cash and bank equivalents |
2,232,180 | (1,272,439) |
| Cash and bank equivalents at the beginning of the period | ||
| Cash and bank equivalents at the end of the period | 18,926,528 | 16,545,519 |
| 21,158,709 | 15,273,081 |
The annexed notes from 1 to 5 form an integral part of the condensed interim financial information.
Qazi Obaid Ullah Chief Financial Officer
Adil A Ghaffar Chief Executive Premier Financial
Director Premier Financial Services (Private) Ltd. Services (Private) Ltd. Services (Private) Ltd.
Director Premier Financial
FIRST EQUITY MODARABA
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CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE QUARTER ENDED SEPTEMBER 30, 2025
| the state of the con- | Certificate Capital |
Special reserve |
Certificate premium account |
General reserve |
$/$ (loss) on re-measurement of available for sale investments |
of define benefit liability |
Unrealized gain Remeasurement Un appropriated profit / accumulated loss |
Total |
|---|---|---|---|---|---|---|---|---|
| Rupees | Rupees | Rupees | Rupees | Rupees | Rupees | Rupees | ||
| Balance as at June 30, 2024 | 524,400,000 | 164,334,210 | 131,100,000 | 17,321,036 | (24, 749, 991) | 2,873,713 | (253, 575, 203) | 561,703,765 |
| Loss for the Year Total comprehensive income for the period |
58,254,568 | 1,140,006 | (8, 284, 152) | (8, 284, 152) 59,394,574 |
||||
| Balance as at June 30, 2025 | 524,400,000 | 164,334,210 | 131,100,000 | 17,321,036 | 33,504,577 | 4,013,719 | (261, 859, 355) | 612,814,187 |
| Loss for the period | (1,758,200) | (1,758,200) | ||||||
| Total comprehensive income for the period | 33,297,459 | 33,297,459 | ||||||
| Balance as at September 30, 2024 | 524,400,000 | 164,334,210 | 131,100,000 | 17,321,036 | 66,802,036 | 4,013,719 | (263, 617, 555) | 644,353,445 |
The annexed notes from 1 to 5 form an integral part of the condensed interim financial information.
Adil A Ghaffar
Chief Executive
Premier Financial
Services (Private) Ltd.
Director Premier Financial
Services (Private) Ltd.
Director Premier Financial
Services (Private) Ltd.
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FIRST EQUITY MODARABA CONDENSED INTERIM PROFIT AND LOSS ACCOUNT - CONSOLIDATED FOR THE QUARTER ENDED SEPTEMBER 30, 2025
| September 2025 Rupees |
September 2024 Rupees |
|
|---|---|---|
| Income | (9,207,304) | (34,040,718) |
| Expenditures | ||
| Operating expenses Distribution and selling expenses |
(21, 149, 783) | (23, 242, 015) |
| (21, 149, 783) | (3,691,071) (26,933,086) |
|
| Operating profit Financial charges |
(30, 357, 087) (3,533,532) |
(60, 973, 804) (11, 106, 834) |
| Other Charges | (33,890,619) | (72,080,638) |
| Other income | 1,894,940 | 4,056,339 |
| (31,995,679) | (68,024,299) | |
| Minimum tax differential Final Tax |
(103, 463) (19,015) |
(3,453,508) (10, 885) |
| Profit before taxation | (32, 118, 157) | (71, 488, 692) |
| Taxation | ||
| $\div$ current - prior |
||
| - deferred | 2,083,136 2,083,136 |
28,876,548 28,876,548 |
| Profit for the period | (30,035,021) | (42, 612, 144) |
| Earnings per certificate | (0.57) | (0.81) |
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Qazi Obaid Ullah
Chief Financial Officer
Adil A Ghaffar Chief Executive Director Director Premier Financial Premier Financial Premier Financial Services (Private) Ltd. Services (Private) Ltd. Services (Private) Ltd. $\overline{7}$