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First IBL Modaraba Interim / Quarterly Report 2026

Jan 20, 2026

71999_rns_2026-01-20_4126c7b4-494f-4a82-9a5d-bf4640b05fe9.pdf

Interim / Quarterly Report

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January 20, 2026

The General Manager Pakistan Stock Exchange Limited Karachi.

Dear Sir,

FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025

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 January 20, 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 September 30, 2025 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 September 30, 2025 will be transmitted through PUCARS separately, within the specified time.

Sep, 2025 Jun, 2025 Note Rupees Rupees Assets Non-current assets Fixed assets under ijarah arrangements 6 24,005,687 20,669,211 Fixed assets under own use 7 32,933 32,933 Long term musharakah receivables 19,441,602 31,772,278 Long term deposits 3,000 3,000 Deferred taxation 11,328,306 11,328,306 54,811,528 63,805,728 Current assets Short term musharakah receivables 30,000,000 - Ijarah rentals receivable 4 2,876,812 2,215,680 Advances, prepayments and other receivables 5 2,988,279 1,671,134 Current portion of long term musharakah receivables 11,800,000 16,706,050 Advance income tax 5,042,234 4,193,736 Short term investments 3 3,217,793 3,217,793 Cash and bank balances 172,487,347 182,027,614 228,412,465 210,032,007 283,223,993 273,837,735 Equity and Liabilities Capital and reserves 216,875,000 216,875,000 Certificate capital 56,543,935 55,054,483 Statutory reserve 2,384,236 2,384,236 Fair value reserve (24,160,040) (30,117,850) Accumulated loss 251,643,131 244,195,869 Non-current liabilities - 733,000 Long term deposits Current liabilities Trade and other payables 6,378,456 5,664,698 Current portion of long term security deposits 9,723,749 8,106,249 Income tax payable 4,750,908 4,410,169 Unclaimed dividend 10,727,750 10,727,750 31,580,862 28,908,866 283,223,993 273,837,735 Contingencies and commitments 8 Nil Nil The annexed notes form an integral part of these financial statements.	Sep, 2025	Jun, 2025
	Rupees Rupees
	24,005,687 32,933 19,441,602 3,000 11,328,306	20,669,211 32,933 31,772,278 3,000 11,328,306
	54,811,528 63,805,728
	30,000,000 2,876,812 2,988,279 11,800,000 5,042,234 3,217,793 172,487,347	- 2,215,680 1,671,134 16,706,050 4,193,736 3,217,793 182,027,614
	228,412,465 210,032,007
	283,223,993 273,837,735
	216,875,000 216,875,000 56,543,935 55,054,483 2,384,236 2,384,236 (24,160,040) (30,117,850)
	251,643,131 244,195,869 - 733,000
	6,378,456 9,723,749 4,750,908 10,727,750	5,664,698 8,106,249 4,410,169 10,727,750
	31,580,862 28,908,866
	283,223,993 273,837,735

	Quarter ended	Quarter ended
	Sep, 2025	Sep, 2024
INCOME FROM OPERATIONS Income from Ijarah Profit on Musharaka investments OTHER INCOME Income from investment property Other Income Profit on deposits TOTAL INCOME EXPENSES Administrative expenses Depreciation on assets under Ijarah PROFIT BEFORE MANAGEMENT COMPANY'S FEE Charge of Modaraba management fee Workers' welfare fund PROFIT BEFORE LEVY AND TAXATION Taxation - Current Period - Deferred Tax NET PROFIT FOR THE PERIOD Profit per Modaraba Certificate - Basic and Diluted
	6,425,840 2,403,180	4,026,400 5,416,483
	8,829,020 - - 4,222,070 4,222,070	9,442,883
		1,873,860 17,718 1,597,856
		3,489,434
	13,051,090	12,932,317
	(1,617,741) (2,637,924) (4,255,665) 8,795,424 (879,542) (158,318)
		(3,834,289) (2,964,420)
		(6,798,709)
		6,133,608 (613,361) (122,672)
	7,757,564 (310,303) - 7,447,262 0.34	5,397,575 (193,985) -
		5,203,590
		0.24

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 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 September 30, 2025	216,875,000 49,686,655 1,748,795 (51,589,164) 216,721,286 - - - -
	- - 635,441 26,839,142 27,474,583
	- - 635,441 26,839,142 27,474,583 - 5,367,828 (5,367,828)
	216,875,000 55,054,483 2,384,236 (30,117,850) 244,195,869
	- - - - -
	- - 7,447,262 7,447,262 - - - -
	- - 7,447,262 7,447,262 1,489,452 (1,489,452) -
	216,875,000 56,543,935 2,384,236 (24,160,040) 251,643,131

CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax Adjustments for: - Depreciation of fixed assets under own use - Depreciation of investment properties - Depreciation of fixed assets under Ijarah arrangements - Gain on remeasurement of short term investment Credit balance written back Debit balance written off Gain on termination of Ijarah arrangements Gain on disposal of investment property - Profit on bank deposits Operating profit before working capital changes Decrease / (increase) in current assets: - Advances, prepayments and other receivables - Ijarah rentals receivable Security deposits against ijarah assets Musharaka finance - Trade and other payables Net cash Generated from / (Used in) changes in working capital Cash Generated from Operations *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 ijarahs 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 year Cash and cash equivalents at the end of the year	Sep, 2025	Jun, 2025
	Rupees 7,757,564	Rupees 23,661,310
	- - 2,637,924 - - - - - (4,222,070)	46,229 2,500,014 15,301,964 (404,700) (700,061) 18,166 (239,650) (3,916,520) (18,781,561)
	(1,584,146)	(6,176,119)
	6,173,419	17,485,191
	(1,317,145) (661,132) 884,500 - (713,758)	5,098,750 (1,731,183) 5,012,098 (700,000) 1,679,688
	(1,807,535)	9,359,353
	4,365,884 (879,542) 4,222,070	26,844,544 (8,677,466) 18,781,561
	7,708,411	36,948,639
	(5,974,400) 8,725,722 (20,000,000) - - -	(30,044,698) (23,172,974) 44,000,000 17,500 43,500,000 4,637,050
	(17,248,678)	38,936,878
	-	(106,848)
	- (9,540,267) 182,027,614 172,487,347	(106,848) 75,778,669 106,248,945 182,027,614

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First IBL Modaraba Interim / Quarterly Report 2026

71999_rns_2026-01-20_4126c7b4-494f-4a82-9a5d-bf4640b05fe9.pdf

FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025