First IBL Modaraba — Interim / Quarterly Report 2026

Apr 23, 2026

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April 23, 2026

The General Manager Pakistan Stock Exchange Limited Karachi.

Dear Sir,

FINANCIAL RESULTS FOR THE PERIOD ENDED MARCH 31, 2026

We have to inform you that the Board of Directors of M/s. IBL Modaraba Management (Private) Limited, Management Company of First IBL Modaraba (FIBLM), in its board meeting held on April 23, 2026 at 11:00 a.m., at the Registered Office at 4-L, Gulberg-III, Main Ferozepur Road, Lahore, approved accounts for the period ended March 31, 2026 and recommended as the following:

Cash Dividend NIL Bonus Certificates NIL Right Certificates NIL Any Other Entitlement/ Corporate Action NIL Any Other Price- Sensitive Information NIL

The financial results of First IBL Modaraba are enclosed herewith.

The Financial Statements of the First IBL Modaraba for the period ended March 31, 2026 will be transmitted through PUCARS separately, within the specified time.

Thanking you.

Yours truly,

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________ Muhammad Ibrahim Qazi Chief Executive

4-L, G, Gulberg-III, Main Ferozepur Road, Lahore: Ph: 042-35969435-36

FIRST IBL MODARABA

CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (Un-audited) AS AT MARCH, 2026

Note ASSETS Current Assets Cash & Bank balances Short term investments 3 Ijarah rentals receivable 4 Advances, prepayments and other receivables 5 Advance tax Current portion of Musharakah receivable Non-Current Assets Long term Musharakah receivables Long term advances and deposits Deferred Tax Assets Fixed assets under Ijarah arrangements 6 Fixed assets under own use 7 Total Assets LIABILITIES Current Liabilities Creditors, accrued and other liabilities Musharaka finances payable Current portion securities deposits Income Tax payable Presented profit warrants Non-Current Liabilities Long term security deposits Deferred tax liability Total Liabilities NET ASSETS REPRESENTED BY: Certificate capital Statutory Reserves Fair value reserve Accumulated loss	March 2025	June 2025 Restated
	Rupees Rupees
	184,307,167 3,217,793 4,727,552 3,997,557 6,715,303 43,670,136	182,027,614 3,217,793 2,215,680 1,671,134 4,193,736 16,706,050
	246,635,507 210,032,007
	14,492,172 3,000 5,324,684 15,680,077 32,933	31,772,278 3,000 5,324,684 20,669,211 32,933
	35,532,866 57,802,106
	282,168,373 267,834,113
	4,413,509 - 8,623,749 7,382,592 10,727,750	5,664,698 - 8,106,249 4,410,169 10,727,750
	31,147,600 28,908,866
	1,100,000 -	733,000 -
	1,100,000 733,000
	32,247,600 29,641,866
	249,920,774 238,192,247
	216,875,000 216,875,000 56,199,464 53,853,759 2,384,236 2,384,236 (25,537,926) (34,920,748)
	249,920,774 238,192,247

Contingencies and commitments

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

For IBL Modaraba Management (Private) Limited (Modaraba Management Company)

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CHIEF EXECUTIVE DIRECTOR DIRECTOR
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CHIEF FINANCIAL OFFICER
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FIRST IBL MODARABA

CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS ACCOUNT (UN-AUDITED) FOR THE NINE MONTHS AND QUARTER PERIOD ENDED MARCH 31, 2026

	Quarte	r ended	Nine mon	ths ended
	March 31, 2026	March 31, 2025	March 31, 2026	March 31, 2025
INCOME FROM OPERATIONS Income from Ijarah Profit on Musharaka investments OTHER INCOME Other income Income from investment property Income from short term investments Gain on re-measurement of investments Profit on deposits TOTAL INCOME EXPENSES Administrative expenses Depreciation on assets under Ijarah Operating Profit Charge of Modaraba management fee Workers' welfare fund Profit before taxation Taxation - Provision for levies - Current Period - Deferred Tax Profit for the period Profit per Modaraba Certificate - Basic and Diluted		"Rupees"
	6,030,340 2,103,128	5,692,760 3,620,275	14,897,390 7,183,797	14,417,855 5,592,145
	8,133,468	9,313,035	22,081,187	20,010,000
	- - 1,875 - 4,149,971	1,488,172 - 4,375 - 2,391,267	- - 1,875 - 12,660,829	1,561,980 3,747,720 4,375 258,424 13,072,402
	4,151,846	3,883,814	12,662,704	18,644,901
	12,285,314	13,196,849	34,743,891	38,654,901
	1,245,340 2,271,639	(303,064) 4,283,539	5,051,272 10,963,534	7,009,895 10,800,866
	3,516,979	3,980,475	16,014,806	17,810,761
	8,768,334 (831,674) (67,430)	9,216,374 (921,637) (169,999)	18,729,084 (1,872,908) (337,124)	20,844,140 (2,084,414) (375,195)
	7,869,231 - (3,133,771) -	8,124,738 - - 2,754,210	16,519,053 - (4,790,525) -	18,384,531 4,089,480 (1,744,103) (2,027,989)
	4,735,459	10,878,948	11,728,527	18,701,919
	0.22	0.50	0.54	0.86

The annexed notes form an integral part of these condensed interim financial information (un-audited).

For IBL Modaraba Management (Private) Limited (Modaraba Management Company)

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CHIEF EXECUTIVE DIRECTOR

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DIRECTOR
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Chief Financial Officer

FIRST IBL MODARABA

CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026

Particulars	Certificate Capital	Statutory reserve	Fair Value Reserve	Accumulated loss	Total Equity
	Rupees
Balance as at June 30, 2024 Comprehensive income for the year Net profit for the year Total comprehensive income for the year Transferred to statutory reserve Balance as at June 30, 2025 Balance as at July 1, 2025 Comprehensive income for the period Net profit for the period Other comprehensive loss for the period Total comprehensive loss for the period Transferred to statutory reserve Balance as at March 31, 2026 The annexed notes form an integral part of these For IBL Modaraba Management (Private) Limited (Modaraba Management Company)	216,875,000 49,686,655 1,748,795 (51,589,164) 216,721,286
	- - 20,835,520 20,835,520
	- - - - - 4,167,104 635,441 (4,167,104) 635,441
	216,875,000 53,853,759 2,384,236 (34,920,748) 238,192,247
	216,875,000 53,853,759 2,384,236 (34,920,748) 238,192,247
	- - - 11,728,527 11,728,527 - - - -
	- - - 11,728,527 11,728,527 2,345,705 (2,345,705) -
	216,875,000 56,199,464 2,384,236 (25,537,926) 249,920,774

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CHIEF EXECUTIVE DIRECTOR
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DIRECTOR
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CHIEF FINANCIAL OFFICER
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FIRST IBL MODARABA

CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED) FOR THE NINE MONTHS PERIOD ENDED MARCH 31, 2026

Net profit for the period Adjustments for: Depreciation of fixed assets under own use Depreciation of investment properties Depreciation of fixed assets under Ijarah arrangements Loss/(gain) on short term investments Credit balances written back Debit balances written off Dividend income Workers' Welfare fund Gain on termination of Ijarah arrangements Gain on disposal of investment properties Profit on bank deposits Operating profit before working capital changes Effect on cash flows due to working capital changes: (Increase) / decrease in operating assets Advances, prepayments and other receivables Ijarah rentals receivables - net Increase / (decrease) in operating liabilities Security deposits against ijarah assets Musharakah finances Trade and other payables Cash used in working capital changes Cash generated from operating activities Income tax / levies paid Profit received on bank deposits Net cash generated from operating activities Cash flows from investing activities Purchase of assets under ijarah arrangements Long term Musharakah receivables Short term Musharakah receivables Long term deposits Proceeds from disposal of investment property Proceeds from disposal of assets on termination / completion of Ijarah Net cash generated from / (used in) investing activities Cash flow from financing activities Unclaimed dividend paid Net cash (used in) financing activities Net increase in cash and cash equivalents during the year Cash and cash equivalents at the beginning of the period Cash and Cash Equivalents at the end of the Period	March 31, 2026	June 30, 2025
	Rupees 11,728,527	Rupees 23,661,310
	- - 10,963,534 - - - 1,875 337,124 - - (12,660,829)	46,229 2,500,014 15,301,964 (404,700) (700,061) 18,166 - - (239,650) (3,916,520) (18,781,561)
	(1,358,296)	(6,176,119)
	10,370,231	17,485,191
	(2,326,423) (2,511,872) 884,500 - 1,251,189	5,098,750 (1,731,183) 5,012,098 (700,000) 1,679,688
	(2,702,606)	9,359,353
	7,667,625 (4,790,525) (12,660,829)	26,844,544 (8,677,466) 18,781,561
	(9,783,729) (5,974,400) 18,066,864 - - - - 12,092,464 -	36,948,639 (30,044,698) (23,172,974) 44,000,000 17,500 43,500,000 4,637,050 38,936,878 (106,848)
	- 2,308,735 182,027,614	(106,848) 75,778,669 106,248,945
	184,336,349	182,027,614

The annexed notes form an integral part of these condensed interim financial information (un-audited).

For IBL Modaraba Management (Private) Limited (Modaraba Management Company)

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CHIEF EXECUTIVE OFFICER

DIRECTOR

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DIRECTOR
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CHIEF FINANCIAL OFFICER