First Paramount Modaraba — Interim / Quarterly Report 2026

May 4, 2026

S&W

Our Ref: No: 119/2026

Date: 30 April 2026

The General Manager

Pakistan Stock Exchange (PSX)

Stock Exchange Building

Stock Exchange Road

Karachi

Subject: FINANCIAL RESULTS FOR THE PERIOD ENDED ON 31 MARCH 2026

Dear Sir,

This is to inform you that the Board of Directors of the Paramount Investments Limited, the Managers of First Paramount Modaraba in its meeting held on Thursday, 30 April 2026 at 03:00 pm in the Board Room of First Paramount Modaraba, 1st Floor, 107 & 108, PECHS, Shahrah-e-Quideen, Karachi and via Zoom, has approved the unconsolidated and consolidated financial statements for the period ended 31 March 2026, as per following:-

1. CASH DIVIDEND: Nil
2. BONUS: Nil
3. RIGHT SHARE: Nil

The unconsolidated and consolidated financial results of the Modaraba are attached.

The Quarterly Report of the Modaraba for the period ended 31 March 2026 will be transmitted through PUCARS separately and will also be available at FPM’s website (www.fpm.com.pk) within the stipulated time.

Thanks & Regards,

for First Paramount Modaraba

Syed Mudassir Ali

Company Secretary

Encl: as above.

Head Office: Suit No. 107-108, P.E.C.H.S Community Office complex, Block No. 2, P.E.C.H.S, Sharah-e-Quaideen, Karachi.

Tel: (021) 34381037-8, 34381052, 34381101 Fax: 34534410 Email: info@fpm.com.pk Web: www.fpm.com.pk

---

FIRST PARAMOUNT MODARABA
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED)
AS AT 31 MARCH 2026

ASSETS	Note	Un-audited March 31, 2026 Rupees	Audited June 30, 2025 Rupees
NON-CURRENT ASSETS
Fixed Assets	3	20,747,180	23,425,850
Long term investments		9,980	9,980
Murabaha financing	4	35,478,901	19,403,574
Loan to employees		186,503	231,503
Long-term deposits		264,600	7,700
		56,687,164	43,078,607
CURRENT ASSETS
Trade debtors		208,895,166	262,671,367
Stock in trade		29,020,327	12,475,079
Advances, prepayments and other receivables		36,782,909	34,340,715
Short-term murabaha financing		-	4,791,668
Current portion of murabaha financing	4	50,825,259	27,796,568
Current portion of musharaka financing	5	13,949,054	13,949,054
Current portion of loans to employees		65,000	138,000
Short-term deposit		1,982,194	256,800
Accrued profit		57,228	70,332
Taxation - net		98,362,497	68,067,855
Short Term Investment		24,680,612	23,434,916
Cash and bank balances		18,450,139	18,210,311
		483,070,385	466,202,665
TOTAL ASSETS		539,757,549	509,281,272
EQUITY AND LIABILITIES
CERTIFICATE CAPITAL AND RESERVES
Authorised certificate capital
40,000,000 certificates of Rupees 10 each		400,000,000	400,000,000
Issued, subscribed and paid-up certificate capital		137,884,193	137,884,193
13,788,420 certificates of Rupees 10 each
Capital reserves		124,228,346	113,616,388
Revenue reserves		22,392,468	22,392,468
		284,505,007	273,893,049
LIABILITIES
NON-CURRENT LIABILITIES
Deferred income		5,721,645	3,362,988
Certificates of musharaka		139,950,000	131,875,000
		145,671,645	135,237,988
CURRENT LIABILITIES
Creditors, Accrued & Other Liabilities		39,412,724	28,531,267
Current portion of deferred income		9,131,798	5,367,360
Current portion of certificates of musharaka		37,125,000	41,500,000
COM matured parties		2,800,000	2,800,000
Accrued profit on certificates of musharaka		2,491,135	3,331,368
Unclaimed profit distributions		18,620,240	18,620,240
		109,580,897	100,150,235
TOTAL LIABILITIES		255,252,542	235,388,223
TOTAL EQUITY AND LIABILITIES		539,757,549	509,281,272

CONTINGENCIES AND COMMITMENTS
The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

CERTIFIED
Certified
True Copy
Company Secretary

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FIRST PARAMOUNT MODARABA

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS (UN-AUDITED)

FOR THE NINE MONTH AND THREE MONTH PERIOD ENDED 31 MARCH 2026

	Nine month period ended		Three month period ended
	July-March 2026	July-March 2025	Jan-March 2026	Jan-March 2025
	(Rupees)		(Rupees)
Income from trading operations	48,303,568	56,172,999	17,233,320	15,297,700
Income from murabaha financing	13,122,864	10,979,335	4,182,962	2,947,860
Income from musharaka financing	-	1,350,000	-	450,000
	61,426,432	68,502,334	21,416,282	18,695,560
Administration and operating expenses	(35,872,936)	(32,168,987)	(12,500,581)	(9,901,093)
(Provision)/Reversal for doubtful recoveries	889,311	(1,712,312)	-	(2,072,415)
Other income	3,523,874	6,241,760	834,605	1,576,334
	29,966,681	40,862,795	9,750,306	8,298,386
Financial charges	(13,020,626)	(16,598,716)	(4,414,876)	(5,035,081)
	16,946,055	24,264,079	5,335,430	3,263,305
Modaraba Company's management fee	(1,694,606)	(2,426,408)	(533,544)	(326,331)
	15,251,449	21,837,671	4,801,887	2,936,974
Provision for Sindh Workers' Welfare Fund	(305,029)	(436,753)	(96,038)	(58,739)
Profit before taxation	14,946,420	21,400,918	4,705,849	2,878,235
Taxation	(4,334,462)	(6,206,266)	(1,282,913)	(834,688)
Profit after taxation	10,611,958	15,194,652	3,422,936	2,043,547
Earnings per certificate - basic and diluted	0.77	1.10	0.25	0.15

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

---

FIRST PARAMOUNT MODARABA

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

| | Note | March 31, 2026
Rupees
14,946,420 | March 31, 2025
Rupees
21,400,918 |
| --- | --- | --- | --- |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | |
| Profit before taxation | | 3,384,045 | 2,982,272 |
| Adjustments for non-cash items: | | - | (1,531,012) |
| Depreciation and amortization | | 305,029 | 436,753 |
| Gain on disposal | | 13,020,626 | 16,598,716 |
| Provision for Sindh Workers' Welfare Fund | | (3,523,874) | 1,712,312 |
| Financial charges | | 13,185,826 | 20,199,041 |
| (Reversal of provision) / Provision for doubtful recoveries | | 28,132,246 | 41,599,959 |
| Net cash flow before working capital changes | | | |
| (Increase) / decrease in current assets | | | |
| Short-term murabaha financing | | (14,713,149) | 5,451,094 |
| Long-term murabaha financing | | (16,075,327) | - |
| Loans to employees | | 118,000 | 172,000 |
| Long-term deposits | | (256,900) | - |
| Stock in trade | | (16,545,248) | 6,981,003 |
| Trade debtors - net | | 53,776,201 | 13,503,884 |
| Advances, prepayments and other receivables | | (4,167,588) | (12,481,231) |
| Short term investment | | (1,245,696) | (1,712,602) |
| Accrued profit | | 13,104 | 3,975 |
| | | 903,397 | 11,918,123 |
| (Decrease) / increase in current liabilities | | | |
| Deferred income | | 6,123,095 | (3,639,456) |
| Creditors, accrued and other liabilities | | 10,576,428 | 3,908,198 |
| Cash (used in)/generated from operations | | 45,735,166 | 53,786,824 |
| Financial charges paid | | (4,925) | (9,133) |
| Tax (paid) / refunded - net | | (34,629,104) | (25,813,902) |
| | | (34,634,029) | (25,823,035) |
| Net cash flow from operating activities | | 11,101,137 | 27,963,789 |
| Cash flows from investing activities | | | |
| Purchase of fixed assets | | (705,375) | (14,659,111) |
| Sale proceed on disposals of fixed assets | | - | 2,155,000 |
| Net cash used in investing activities | | (705,375) | (12,504,111) |
| Cash flows from financing activities | | | |
| Certificate of musharaka - issuance | | 11,850,000 | 29,600,000 |
| Certificate of musharaka - redemptions | | (8,150,000) | (28,275,000) |
| Profit paid to certificates of mushraka (COM) holder | | (13,855,934) | (17,366,077) |
| Profit distributed to certificate holders | | - | (109,126) |
| Net cash used in financing activities | | (10,155,934) | (16,150,203) |
| Net increase in cash and cash equivalents | | 239,828 | (690,525) |
| Cash and cash equivalents at beginning of the year | | 18,210,311 | 47,115,806 |
| Cash and cash equivalents at end of the Period | | 18,450,139 | 46,425,281 |

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

---

FIRST PARAMOUNT MODARABA

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE NINE MONTH AND THREE MONTH PERIOD ENDED 31 MARCH 2026

	Nine month period ended		Three month period ended
	July-March 2026	July-March 2025	Jan-March 2026	Jan-March 2025
Profit after taxation	10,611,958	15,194,652	3,422,936	2,043,547
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit and loss account	-	-	-	-
Items that may be reclassified subsequently to profit and loss account	-	-	-	-
Other comprehensive income for the Period	-	-	-	-
Total comprehensive income for the Period	10,611,958	15,194,652	3,422,936	2,043,547

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

---

FIRST PARAMOUNT MODARABA

UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)

FOR THE NINE MONTH PERIOD ENDED 31 MARCH 2026

	Issued, subscribed and paid up certificate capital	Reserves				Total
		Capital			Revenue
		Merger reserve	Statutory reserve	Total	Unappropriated profit
	Rupees	Rupees	Rupees	Rupees	Rupees	Rupees
Balance as at 01 July 2024	137,884,193	1,935,160	87,783,027	89,718,187	22,392,468	249,994,848
Total comprehensive income:
Profit after taxation	-	-	-	-	23,898,201	23,898,201
Other comprehensive income	-	-	-	-	-	-
	-	-	-	-	23,898,201	23,898,201
Transferred to statutory reserve @ 100%	-	-	23,898,201	23,898,201	(23,898,201)	-
Balance as at 30 June 2025	137,884,193	1,935,160	111,681,228	113,616,388	22,392,468	273,893,049
Total comprehensive income:
Profit after taxation	-	-	-	-	10,611,958	10,611,958
Other comprehensive income	-	-	-	-	-	-
	-	-	-	-	10,611,958	10,611,958
Transferred to statutory reserve @ 100%	-	-	10,611,958	10,611,958	(10,611,958)	-
Balance as at 31 March 2026	137,884,193	1,935,160	122,293,186	124,228,346	22,392,468	284,505,007

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

---

FIRST PARAMOUNT MODARABA
CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED)
AS AT 31 MARCH 2026

ASSETS	Note	Un-audited March 31, 2026 Rupees	Audited June 30, 2025 Rupees
NON-CURRENT ASSETS
Fixed Assets	3	20,747,180	23,425,850
Murabaha financing	4	35,478,901	19,403,574
Loan to employees		186,503	231,503
Long-term deposits		264,600	7,700
		56,677,184	43,068,627
CURRENT ASSETS
Trade debtors		208,895,166	262,671,367
Stock in trade		29,020,327	12,475,079
Advances, prepayments and other receivables		36,410,659	34,956,461
Short-term murabaha financing		-	4,791,668
Current portion of murabaha financing	4	50,825,259	27,796,568
Current portion of musharaka financing	5	13,949,054	13,949,054
Current portion of loans to employees		65,000	138,000
Short-term deposit		1,982,194	256,800
Accrued profit		57,228	70,332
Taxation - net		98,379,854	68,067,855
Short Term Investment		24,680,612	23,434,916
Cash and bank balances		18,514,028	18,994,547
		482,779,381	467,602,647
TOTAL ASSETS		539,456,565	510,671,274
EQUITY AND LIABILITIES
CERTIFICATE CAPITAL AND RESERVES
Authorised certificate capital
40,000,000 certificates of Rupees 10 each		400,000,000	400,000,000
Issued, subscribed and paid-up certificate capital		137,884,193	137,884,193
13,788,420 certificates of Rupees 10 each
Capital reserves		123,661,128	113,095,758
Revenue reserves		22,392,468	22,392,468
Equity attributable to certificate holders of the holding company		283,937,789	273,372,419
Non-controlling interest		(706)	(558)
Total Equity		283,937,082	273,371,861
LIABILITIES
NON-CURRENT LIABILITIES
Deferred income		5,721,645	3,362,988
Certificates of musharaka		139,950,000	131,875,000
		145,671,645	135,237,988
CURRENT LIABILITIES
Creditors, Accrued & Other Liabilities		39,679,665	30,442,457
Current portion of deferred income		9,131,798	5,367,360
Current portion of certificates of musharaka		37,125,000	41,500,000
COM matured parties		2,800,000	2,800,000
Accrued profit on certificates of musharaka		2,491,135	3,331,368
Unclaimed profit distributions		18,620,240	18,620,240
		109,847,838	102,061,425
TOTAL LIABILITIES		255,519,483	237,299,413
TOTAL EQUITY AND LIABILITIES		539,456,565	510,671,274

CONTINGENCIES AND COMMITMENTS
The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

P 1

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FIRST PARAMOUNT MODARABA

CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS (UN-AUDITED)

FOR THE NINE MONTH AND THREE MONTH PERIOD ENDED 31 MARCH 2026

	Nine month period ended		Three month period ended
	July-March 2026	July-March 2025	Jan-March 2026	Jan-March 2025
	(Rupees)		(Rupees)
Income from trading operations	48,303,568	56,172,999	17,233,320	15,297,700
Income from murabaha financing	13,122,864	10,979,335	4,182,962	2,947,860
Income from musharaka financing	-	1,350,000	-	450,000
	61,426,432	68,502,334	21,416,282	18,695,560
Administration and operating expenses	(35,949,757)	(32,206,100)	(12,500,581)	(9,931,211)
(Provision)/Reversal for doubtful recoveries	889,311	(1,712,312)	-	(2,072,415)
Other income	3,526,815	6,242,604	835,637	1,576,828
	29,892,801	40,826,526	9,751,338	8,268,762
Financial charges	(13,020,905)	(16,598,975)	(4,414,905)	(5,035,167)
	16,871,896	24,227,551	5,336,433	3,233,595
Modaraba Company's management fee	(1,687,190)	(2,426,408)	(526,127)	(323,360)
	15,184,706	21,801,143	4,810,306	2,910,235
Provision for Sindh Workers' Welfare Fund	(303,694)	(436,023)	(94,703)	(58,205)
Profit before taxation	14,881,012	21,365,120	4,715,603	2,852,030
Taxation	(4,315,493)	(6,206,266)	(1,285,741)	(834,688)
Profit after taxation	10,565,518	15,158,854	3,429,862	2,017,342
Share of profit attributable to :
Certificate holders of the Modaraba	10,565,370	15,158,782	3,429,863	2,017,284
Non-controlling interest	(148)	(72)	2	(58)
Earnings per certificate - basic and diluted	0.77	1.10	0.25	0.15

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

---

FIRST PARAMOUNT MODARABA

CONSOLIDATED CONDENSED INTERIM STATEMENT OF COMPREHENSIVE INCOME (UN-AUDITED)

FOR THE NINE MONTH AND THREE MONTH PERIOD ENDED 31 MARCH 2026

	Nine month period ended		Three month period ended
	July-March 2026	July-March 2025	Jan-March 2026	Jan-March 2025
Profit after taxation	10,565,518	15,158,854	3,429,862	2,017,342
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit and loss account	-	-	-	-
Items that may be reclassified subsequently to profit and loss account	-	-	-	-
Other comprehensive income for the Period	-	-	-	-
Total comprehensive income for the Period	10,565,518	15,158,854	3,429,862	2,017,342

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

---

FIRST PARAMOUNT MODARABA
CONSOLIDATED CONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED)
FOR THE NINE MONTH PERIOD ENDED 31 MARCH 2026

| | Note | March 31, 2026
Rupees
14,881,012 | March 31, 2025
Rupees
21,365,120 |
| --- | --- | --- | --- |
| CASH FLOWS FROM OPERATING ACTIVITIES | | | |
| Profit before taxation | | | |
| Adjustments for non-cash items: | | | |
| Depreciation and amortization | | 3,384,045 | 2,982,272 |
| Gain on disposal | | - | (1,531,012) |
| Provision for Sindh Workers' Welfare Fund | | 303,694 | 436,753 |
| Financial charges | | 13,020,905 | 16,598,975 |
| (Reversal of provision) / Provision for doubtful recoveries | | (3,526,815) | 1,712,312 |
| | | 13,181,829 | 20,199,300 |
| Net cash flow before working capital changes | | 28,062,841 | 41,564,420 |
| (Increase) / decrease in current assets | | | |
| Short-term murabaha financing | | (14,710,208) | 5,451,094 |
| Long-term murabaha financing | | (16,075,327) | - |
| Loans to employees | | 118,000 | 172,000 |
| Long-term deposits | | (256,900) | - |
| Stock in trade | | (16,545,248) | 6,981,003 |
| Trade debtors - net | | 53,776,201 | 13,503,884 |
| Advances, prepayments and other receivables | | (3,179,592) | (12,985,893) |
| Short term investment | | (1,245,696) | (1,712,602) |
| Accrued profit | | 13,104 | 3,975 |
| | | 1,894,333 | 11,413,461 |
| (Decrease) / increase in current liabilities | | | |
| Deferred income | | 6,123,095 | (3,639,456) |
| Creditors, accrued and other liabilities | | 8,933,217 | 4,448,063 |
| Cash (used in)/generated from operations | | 45,013,486 | 53,786,488 |
| Financial charges paid | | (5,204) | (9,392) |
| Tax (paid) / refunded - net | | (34,627,493) | (25,812,848) |
| | | (34,632,696) | (25,822,240) |
| Net cash flow from operating activities | | 10,380,790 | 27,964,248 |
| Cash flows from investing activities | | | |
| Purchase of fixed assets | | (705,375) | (14,659,111) |
| Sale proceed on disposals of fixed assets | | - | 2,155,000 |
| Net cash used in investing activities | | (705,375) | (12,504,111) |
| Cash flows from financing activities | | | |
| Certificate of musharaka - issuance | | 11,850,000 | 29,600,000 |
| Certificate of musharaka - redemptions | | (8,150,000) | (28,275,000) |
| Profit paid to certificates of mushraka (COM) holder | | (13,855,934) | (17,366,077) |
| Profit distributed to certificate holders | | - | (109,126) |
| Net cash used in financing activities | | (10,155,934) | (16,150,203) |
| Net increase in cash and cash equivalents | | (480,519) | (690,066) |
| Cash and cash equivalents at beginning of the year | | 18,994,547 | 47,123,633 |
| Cash and cash equivalents at end of the Period | | 18,514,028 | 46,433,567 |

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)

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FIRST PARAMOUNT MODARABA
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED)
FOR THE NINE MONTH PERIOD ENDED 31 MARCH 2026

	Issued, subscribed and paid up certificate capital	Reserves				Non-controlling interest	Total
		Capital			Revenue
		Merger reserve	Statutory reserve	Total	Unappropriated profit
	Rupees	Rupees	Rupees	Rupees	Rupees		Rupees
Balance as at 01 July 2024	137,884,193	1,935,160	87,615,345	89,550,505	22,392,468	(316)	249,826,850
Total comprehensive income:
Profit after taxation	-	-	-	-	23,545,253	(242)	23,545,011
Other comprehensive income	-	-	-	-	23,545,253	(242)	23,545,011
Transferred to statutory reserve @ 100%	-	-	23,545,253	23,545,253	(23,545,253)		-
Balance as at 30 June 2025	137,884,193	1,935,160	111,160,598	113,095,758	22,392,468	(558)	273,371,861

Total comprehensive income:
Profit after taxation
Other comprehensive income
Transferred to statutory reserve @ 100%
Balance as at 31 March 2026

-	-	-	-	10,565,370	(148)	10,565,222
-	-	-	-	-	-	-
-	-	-	-	10,565,370	(148)	10,565,222
-	-	10,565,370	10,565,370	(10,565,370)		-
137,884,193	1,935,160	121,725,968	123,661,128	22,392,468	(706)	283,937,082

The annexed notes from 01 to 07 form an integral part of these financial statements.

For Paramount Investments Limited
(Management Company)