AKD SECURITIES LIMITED
PAKISTAN'S LARGEST BROKERAGE HOUSE
COMPANY INTRODUCTION
AKD Securities Limited (AKDSL) stands as Pakistan's largest brokerage firm and a leading non-bank advisory institution, offering a diverse range of financial services and expert advisory solutions.
AKDSL's core strategy is driven by an unwavering focus on exceeding client expectations through unparalleled excellence across the financial services spectrum. At AKDSL, technology drives innovation and has marked key milestones, such as the introduction of Pakistan's first online trading platform. Our market-leading domestic and foreign institutional brokerage is supported by a globally recognized independent research unit. Our ECM/DCM desks represent one of the largest advisory businesses outside of commercial banks in Pakistan, with notable achievements including transactions for the Government of Pakistan under various privatization programs and capital raising for the country's largest private sector corporations. Our Investment Banking and Advisory business has achieved a 30% market share in all fresh capital raised over the past decade, driving growth across Pakistan's capital markets through growth capital.
AKD Securities Limited has consistently maintained a market-leading share of approximately 12.5% of the Daily Traded Volume at the Pakistan Stock Exchange. AKDSL's high-touch trading covers nearly 300 institutions, both domestic and international, alongside high-net-worth clients across various sectors. Our large and diversified institutional and retail client base enables us to execute regular orders, large block trades, and private placements with speed, efficiency, and minimal impact cost.
Our sales teams are trained to be proactive, providing clients with real-time actionable updates by analyzing breaking news, followed by impact assessments through our research team. This ensures our clients stay ahead of the curve in terms of information efficiency.
Our International Institutional Desk partners with various global entities, with whom we work in close coordination. However, our primary objective has always been to maintain a strong service relationship with end-clients, allowing them to route business to us through our multiple execution arrangements with a broad global partner network. We focus on marketing Pakistan's promising economic story by actively organizing reserve roadshows and consistently facilitating corporate access to major global financial centers.
Half Yearly Report December 2025
AKD Securities is the pioneering full-service brokerage house offering specialized services in Equities, Corporate Finance/Advisory, Money Market, Forex, and Commodities. With a highly experienced team and dedicated infrastructure, AKDSL is well-equipped to meet the diversified needs of its clients as the market leader.
TABLE OF CONTENTS
Company Information | 04 05 06 11 12 13 14 15 16 26 27 28 29 30 |
Branch Network | |
Directors' Review to the Members | |
Unconsolidated Condensed Interim Financial Information (Un-Audited) | |
Independent Auditor's Review Report To The Members | |
Unconsolidated Condensed Interim Statement Of Financial Position | |
Unconsolidated Condensed Interim Statement Of Profit And Loss Account And Other Comprehensive Income | |
Unconsolidated Condensed Interim Cash Flow Statement | |
Unconsolidated Condensed Interim Statement Of Changes In Equity | |
Notes To The Unconsolidated Condensed Interim Financial Information | |
Consolidated Condensed Interim Financial Information (Un-Audited) | |
Consolidated Condensed Interim Statement Of Financial Position | |
Consolidated Condensed Interim Statement Of Profit And Loss Account And Other Comprehensive Income | |
Consolidated Condensed Interim Cash Flow Statement | |
Consolidated Condensed Interim Statement Of Changes In Equity | |
Notes To The Consolidated Condensed Interim Financial Information |
BOARD OF DIRECTORS
Hina Junaid Dhedhi - Chairperson Muhammad Farid Alam - FCA - C.E.O Hassan Daud Butt
Ayesha Aqeel Dhedhi Afsheen Aqeel Muhammad Noorul Hasan Tariq Ghumra
AUDIT COMMITTEE
Muhammad Noorul Hasan Ayesha Aqeel Dhedhi Afsheen Aqeel
HR & R COMMITTEE
Hassan Daud Butt Muhammad Farid Alam - FCA Ayesha Aqeel Dhedhi
CHIEF EXECUTIVE OFFICER
Muhammad Farid Alam - FCA
COMPANY SECRETARY
Asghar Ali Anjum
CHIEF FINANCIAL OFFICER
Zafar Ahmed Khan
HEAD OF INTERNAL AUDIT
Muhammad Noman
CREDIT RATING
Half Yearly Report December 2025
JCR-VIS Credit Rating Company Limited
TAX ADVISOR
A.Qadir & Company
Office Nos.206 and 209, Business Arcade, Shahrah-e-Faisal Block 6 P.E.C.H.S.,
Karachi, Karachi City, Sindh
(021) 34315163
STATUTORY AUDITOR
RSM Avais Hyder Liaquat Nauman Chartered Accountants
407, Progressive Plaza, Beaumont Road Karachi, Pakistan
ICAP/SBP Category-A
LEGAL ADVISORS
Siddiqui & Raza
Barristers and Legal Consultants Office No. 301, 3rd Floor, The Plaza, Block No. 9, Clifton, Karachi Pakistan Tel No. 021-35303030
Fax No. 021 35308303
mail@siddiquiraza.com
SHARE REGISTRAR
THK Associates (Private) Limited
Plot no. 32-C, Jami Commercial Street
2, D.H.A Phase VII, Karachi, 75500 Pakistan. Phone: +92 (021) 111 000 322
Direct: +92 (021) 35310191-6
sfc@thk.com.pk
BANKERS
Allied Bank Limited Askari Bank Limited Bank Al-Habib Limited Bank Al-Falah Limited
Bank Islami Pakistan Limited Habib Metropolitan Bank Limited JS Bank Limited
MCB Bank Limited Meezan Bank Limited United Bank Limited Bank of Khyber Limited
Dubai Islamic Bank Limited Habib Bank Limited
MCB Islamic Bank Limied
REGISTERED OFFICE
Address: Suite # 602, 6th Floor, Continental Trade Center, Block-8, Clifton, Karachi.
75600, Pakistan.
UAN: 92-21 111-253-111 Ext: 606-649
info@akdsl.com
BRANCH NETWORK
serving YOU, where YOU are...
STOCK OFFICE KARACHI:
Suite-529 5th Floor Stock Exchange Building, Stock Exchange Road, Karachi, Pakistan.
Tel.:+92-21 32426651-2
KARACHI (NORTH NAZIMABAD):
Suite # 2/a, 2nd Floor JF Plaza, Plot # D-1/1, Block D, North Nazimabad, Karachi, Pakistan Tel.:021-36630646-51
LAHORE:
64-A, 2nd Floor, Fountain Avenue Building, Main Boulevard, Main Gulberg, Lahore.
UAN: 92-42 111-222-000, Fax: (+92-42) 35787545
LAHORE:
Suite # 512-513, 5th Floor PSX Regional Office,
19 Khayaban-e-Aiwan-e-Iqbal, Lahore - 54000.
UAN: 92-42 111-253-111
ISLAMABAD:
Suite # 302-303, 3rd Floor Islamabad Stock Exchange Tower, Block J F 7/1 Blue Area, Islamabad, Pakistan.
UAN: 92-51 111-253-111
ISLAMABAD:
90-91, Raiza Sharif Plaza, Jinnah Avenue, Blue Area, Islamabad, Pakistan
UAN: 92-51-111-222-000, Fax:(+92-51) 2272841
FAISALABAD:
Suite # 3, 1st Floor Mezan Executive Tower, Liaqat Road, Faisalabad, Pakistan.
Tel.:92-41 2620361-68
MULTAN:
Ground Floor, State life Building, Abdali Road, Multan, Pakistan
Tel.: 92 61-47830300-1, Fax:(+92-61) 4500272
GUJRANWALA:
Shop # 81, Ground Floor, GDA Trust Palza, Gujranwala, Pakistan
Tel.: 92-55-3822501-04, Fax: (+92-61) 3822505
RAHIM YAR KHAN:
Plot # 24, City Park Chowk, Model Town, Rahim Yar Khan, Pakistan
Tel.: 92-68-5873251 (2-4)
PESHAWAR:
1st Floor, State Life Building, 34-The Mall, Peshawar Cantt, Peshawar, Pakistan
Tel.: 92 91-5276025-27, Fax: (+92-92) 5273683
SIALKOT:
Ground Floor, City Tower, Shahab Pura Road, Sialkot, Pakistan
Tel.: 92 52-325035-37, Fax: (+92-52) 3256038
ABBOTTABAD:
Suite- 2, 2nd Floor, Zaman Plaza, near Ayub Teaching hospital Main Mansehra Road, Abbottabad, Pakistan. Tel.: 92-992 414120-22
DIRECTORS' REVIEW TO THE MEMBERS
On behalf of the Board of Directors of AKD Securities Limited, we are pleased to present the unaudited
condensed interim financial statements of the Company for the half year ended 31 December 2025.
Economic Review
The first half of FY26 continued to showcase Pakistan's gradual macroeconomic stabilization following structural reforms anchored under the IMF's Extended Fund Facility (EFF). Inflationary pressures remained subdued, averaging at 5.15% during 1HFY26, easing significantly compared to earlier years, supported by softening monetary conditions, a stable exchange rate, and improved supply dynamics. The State Bank of Pakistan (SBP) maintained an accommodative policy rate after reductions to 10.5%, which helped the recovery in LSM activity (up 6.01%YoY in 5M FY26) and support business confidence. Meanwhile, the current account position remained relatively resilient, aided mainly through strong remittance inflows (US$19.7bn in 1HFY26, up 11%YoY). The external position was further bolstered by IMF disbursements totaling over US$3.3bn over the program period, with the SBP's FX reserve position growing to US$16bn as of Dec'25. Early growth indicators also improved, with PBS preliminary estimates showing GDP growth at 3.71%YoY in 1QFY26, compared to 1.56%YoY in the corresponding period last year.
Equity Market Review
During 1HFY26, the Pakistan Stock Exchange sustained its strong upward momentum, with the benchmark KSE-100 Index advancing 39% during the period, extending earlier gains to close the calendar year at 174,054 points (+51.2%YoY). The rally was supported by robust domestic participation, with average daily volumes and traded value rising 44%/61%YoY to 1.28bn shares and PkR59bn, respectively, amid declining interest rates and improving macro fundamentals. Foreign participation remained cautious, with net outflows of US$251mn during 1HFY26, compared to US$187mn in SPLY, as overseas investor's trimmed exposure despite the index maintaining upward trajectory. Domestic institutions, mutual funds, and individual investors played a key role in absorbing selling pressure, as valuations at the bourse continued to remain attractive.
Mutual Funds, Companies, and Individuals absorbed the aggressive foreign selling, rushing to buy equities at lower valuations, largely driven by a rerouting of insurance sector flows through mutual funds. Mutual Funds increased their exposure to equities the most, adding US$183mn, followed by Companies and Individuals with a net buy of US$27mn and US$26mn, respectively. However, Banks, Other Organizations, Brokers, and Insurance remained net sellers, with outflows of US$21/17/6/5mn, respectively.
Debt and Currency Market Review
In the debt and currency markets, easing inflation and progress on IMF targets enabled the SBP to persist with monetary easing during 1HFY26, resulting in policy rate falling to 10.5% as of Dec'25. The reduction in interest rates supported corporate borrowing conditions and improving liquidity in the financial system. In the secondary market, yields on 6M/12M/3-year instruments declined by 149/169/184bps YoY to 10.41%/10.39%/10.50%, respectively, showcasing expectations of further rate moderation.
The Pakistani rupee exhibited relative stability against the US dollar, underpinned by controlled current balance position, IMF disbursements, and continued reserve accumulation by the SBP through interbank purchases. Exchange rate stability helped moderate inflation risks and supported investor confidence in both equity and fixed-income markets. The GoP remained focused on managing rollover requirement, while maintaining fiscal discipline under ongoing IMF engagement.
Commodity Market Review
Global commodity markets softened during 1HFY26, led by subdued demand across major economies and ample supply conditions. Brent crude declined 18.5%YoY to US$60.9/bbl as of Dec'25, amid oversupply concerns, moderating demand, and easing energy prices. Industrial metals showed mix trends as scrap steel and iron ore increased by 7%/4%YoY to US$369/808 per ton, while rebar declined 6%YoY to US$455/ton as of period end. In contrast, copper surged 42%YoY to US$12,423/ton (from US$8,768/ton), supported by forward-looking demand expectations linked to renewables and EV adoption. Gold continued to outperform, rising 64%YoY to US$4,341/t.oz, driven by accumulation by global central banks amid safe-haven flows due to U.S. dollar weakness and geopolitical uncertainty. Among other commodities, coal, PVC, and wheat declined 19%/19%/8%YoY, due to oversupply and elevated inventories. Weakness in PVC was further compounded by a 21%YoY drop in ethylene prices and slower global industrial activity. Conversely, fertilizer benchmarks gained during the period, with urea up 45%YoY to US$395/ton and DAP up 13%YoY to US$680/ton, led by higher feedstock gas prices and export restrictions by key producers.
Future Outlook
Looking ahead to the remainder of FY26, key macro indicators are expected to remain on an improving trajectory. Continued monetary accommodation, a stable exchange rate, and a more balanced external position are likely to support broader economic activity. The upcoming IMF review is expected to proceed smoothly given adherence to quantitative targets and reform benchmarks. Equity markets are poised to benefit from ongoing liquidity shifts from fixed income to equities, strengthened by strong corporate earnings and structural improvements.
Additionally, brokerage house revenues, including those of your company are anticipated to grow at a much wider scale, led by growing retail investor participation, deeper clientele penetration through digital onboarding and structurally higher average traded values and volume at the PSX relative to prior periods. Additionally, shift in investor interest towards equities as a preferred asset class amid declining fixed income yields is to further support trading activity. Overall, growing market participation and increasing capital market transactions alongside improving operational efficiency are anticipated to strengthen your company's gross brokerage income moving forward.
However, risks remain in the form of global economic headwinds, commodity price volatility, and geopolitical uncertainties that could introduce short-term market fluctuations. Overall, the macroeconomic and market outlook for the second half of FY26 remains cautiously positive, underpinned by solid policy progress and renewed investor interest.
Financial Performance
During the half yearly ended 31 December 2025, the Company reported the following results:
Six Months Ended December 31, 2025 | Six Months Ended December 31, 2024 |
Rs. | Rs. | |
Profit before income and final tax | 4,246,974,472 | 3,157,672,895 |
Taxation | 708,826,621 | 791,246,373 |
Profit after taxation | 3,538,147,851 | 2,366,426,522 |
Earnings per share | 6.34 | 4.24 |
During the six months ending 31 December 2025, the brokerage division delivered a strong performance, recording total brokerage revenue of PKR 1,555 million (1HFY23: PKR 959 million), reflecting a significant increase of 62%. This growth was primarily driven by higher trading volumes, improved market sentiment, and increased participation from both retail and institutional clients.
In addition, the Financial Advisory, commodities, foreign exchange, and fixed income divisions demonstrated substantial growth compared to the same period last year. This performance was supported by diversification of the client base, expansion of product offerings, improved execution capabilities, and a focused effort to capitalize on emerging market opportunities.
Total operating and administrative expenses increased by 30% compared to the corresponding period, primarily due to higher business volumes, investment in human capital, technology enhancements, and general inflationary pressures. Despite the increase in absolute expenses, the operating cost-to-total revenue ratio remained efficient at 14%, reflecting effective cost management and operational scalability.
The Company's strategic focus on broadening its revenue streams, strengthening cross-selling opportunities, and enhancing service quality has further supported performance across all segments, contributing to improved revenue stability, operational resilience, and sustainable growth.
Acknowledgment
The Directors wish to record their gratitude to the Company's valued clients, shareholders, business partners and other stakeholders for their continued trust that they have reposed in the Company. The Board would also like to record their appreciation to the employees of the Company for their commitment and dedication.
On behalf of the Board of Directors
Karachi
February 16, 2026
Director Chief Executive Officer
THIS PAGE IS LEFT BLANK INTENTIONALLYUNCONSOLIDATED CONDENSED
INTERIM FINANCIAL
INFORMATION (UN-AUDITED)
Half Yearly Report December 2025
FOR THE HALF YEAR ENDED DECEMBER 2025
ash Avasnraer uas«at Nauman
INDEPENDEhIT AUDITOR'S REViEW REPORT
TO THE MEMBERS OF AKD SECURITIES LIMITEO
REPORT ON REVIEW OF INTERIM FINANCIAL STATEMENTS
Introduction
We have reviewed the accompanying condensed Interim statement of flnanclal position of AKD Securities Llmlted ( the Company ) as at December 31, 2025 and the related condensed tnterlm statement of profit or loss and other comprehensive income, condensed interim statement of changes In equlty, and condensed Interim statement of cash flows, and notes to the condensed interim financial statements for the slx-month perlod then ended (here-in-after referred to as the "interim financial statements"). Management Is responsible for the preparation and presentation of these Interim financlal statements In accordance with accounting and reporting standards as appllcable in Pakistan for Interim financiaJ reporting. Our responsibility is to express a conclusion on these financial statements based on our review.
Scope of Review
We conducted our review in accordance wlth International Standard on Review Engagements 2410, "Review of nterim Finandal Information Performed by the Independent Auditor of tne Entlty". A revlew of lnrerm finandal statements consists of makinginquiries,primarily of personsresponslbleforflnanclsJ and accounting matters,and applying analytical and other review procedures. A revlew is substantially less In scope than an audit conducted in accordance with International Standards on Audltlng and consequently does not enableus to obLaln assurance that we would become aware of all slgnificant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our revlew, nothing has come to our attention that causes us to believe that che accompanying Interim financial statements are not prepared. in all material respects, In accordance wfth the accounting and reporting standards as applicable In Pakistanfor Interimfinandalreporting.
Other Matter
The figures for thequarters ended December 31, 2025 and December 31,:2024 in the condensed interimprofit and loss account and other comprehensive Jncome nave not been reviewed and we do not express a conclusion on them.
7he engagement partner onthe engagementresultfng in tnislndependent auditor's review report Is Syed Naveed
Abbas.
a«
Chartered Accoun nts
Karachi
Dated' 18-February-2026 UDIN: RR203510239ZIDW8bj7J
'HE POWER OF BEING UNDERSTOOD
t5SURANCE I TAX ! CONSULTING
AKD SECURITIES LIMITED UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025 | ||
(Un-Audited) | (Audited) | |
December 31, 2025 | June 30, 2025 | |
Note
------------- Rupees -------------
Non-current assets | |||
Property and equipment | 5 | 1,575,630,371 | 1,516,972,729 |
Investment property | 6 | 379,456,695 | 390,298,315 |
Intangible assets | 7 | 3,153,009,965 | 3,153,208,125 |
Long-term investments | 8 | 1,344,582,225 | 1,012,121,168 |
Long-term loans and advances | 9 | 128,122,000 | 78,122,000 |
Long-term deposits and prepayments | 10 | 40,794,561 | 39,628,041 |
6,621,595,817 | 6,190,350,378 | ||
Current assets | |||
Short-term investments | 11 | 8,735,736,916 | 5,432,003,716 |
Trade debts | 12 | 562,485,228 | 470,825,760 |
Deposits, prepayments and other receivables | 13 | 6,221,460,067 | 5,493,122,542 |
Loans and advances | 14 | 857,933,222 | 891,063,122 |
Cash and bank balances | 15 | 2,604,045,411 | 1,567,400,554 |
18,981,660,844 | 13,854,415,694 | ||
TOTAL ASSETS | 25,603,256,661 | 20,044,766,072 | |
EQUITY AND LIABILITIES | |||
Share capital and reserves | |||
Authorised Capital 700,000,000 Ordinary shares of Rs. 10 each | 7,000,000,000 | 7,000,000,000 | |
Issued, subscribed and paid-up capital | 16 | 5,578,341,710 | 5,578,341,710 |
Share premium | 2,302,905,878 | 2,302,905,878 | |
Fair value reserve | 474,313,198 | 451,852,141 | |
General reserve | 18,752,260 | 18,752,260 | |
Accumulated profit | 6,622,459,056 | 3,642,145,376 | |
14,996,772,102 | 11,993,997,365 | ||
Non-current liabilities | |||
Deferred taxation - net | 300,404,933 | 230,955,137 | |
Lease liabilities | 17 | 61,656,220 | 16,617,388 |
362,061,153 | 247,572,525 | ||
Current liabilities | |||
Trade and other payables | 18 | 9,131,989,269 | 6,937,681,224 |
Short term financing-secured | 19 | 449,883,091 | 445,997,918 |
Current portion of lease liabilities | 17 | 16,308,458 | 10,316,779 |
Unclaimed dividend | 6,246,134 | 7,242,666 | |
Taxation - net | 625,680,531 | 380,063,680 | |
Accrued mark-up | 14,315,923 | 21,893,915 | |
10,244,423,406 | 7,803,196,182 | ||
TOTAL EQUITY AND LIABILITIES | 25,603,256,661 | 20,044,766,072 | |
CONTINGENCIES AND COMMITMENTS | 20 | ||
______________
__ ____ __________________ ____________________
Chief Executive Officer Director Chief Financial Officer
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
Chief Executive Officer
Director
Chief Financial Officer
AKD SECURITIES LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
Half year ended December 31, Quarter ended December 31, Note 2025 2024 2025 2024
------------- Rupees ------------- ------------- Rupees -------------
Operating revenue 21 1,653,794,702 980,186,236 871,257,003 647,667,812
Net gain on investments
608,821,635 | 233,757,322 | 157,040,666 | 198,702,708 |
2,485,270,698 | 1,893,895,386 | 651,663,241 | 1,473,994,444 |
Gain on sale of short term investments 'at fair value 'through profit and loss' - net
Unrealised gain on re-measurement of short-term 'investments at fair value through profit or loss' -net
3,094,092,333 | 2,127,652,708 | 808,703,907 | 1,672,697,152 | |
Dividend income | 46,547,652 | 188,824,095 | 22,696,563 | 187,223,454 |
Mark-up / profit on bank deposits and other income | 181,768,504 | 432,242,322 | 39,068,830 | 194,426,173 |
4,976,203,191 | 3,728,905,361 | 1,741,726,303 | 2,702,014,591 | |
Operating and administrative expenses | (727,453,372) | (558,271,895) | (404,780,182) | (340,859,530) |
Reversal against expected credited loss | 10,851,809 | 22,365,536 | 31,323,022 | 1,726,128 |
(716,601,563) (535,906,359) (373,457,160) (339,133,402)
Operating profit 4,259,601,628 3,192,999,002 1,368,269,143 2,362,881,189
Finance cost (22,690,154) (49,515,185) (10,412,867) (19,177,328)
4,236,911,474 | 3,143,483,817 | 1,357,856,276 | 2,343,703,861 | |
Other income | 10,062,998 | 14,189,078 | 5,480,677 | 5,819,127 |
Profit before income and final taxes | 4,246,974,472 | 3,157,672,895 | 1,363,336,953 | 2,349,522,988 |
Final taxes | (6,982,148) | (2,645,614) | (5,572,635) | (2,405,518) |
Profit before Income Tax | 4,239,992,324 | 3,155,027,281 | 1,357,764,318 | 2,347,117,470 |
Income tax | ||||
Current Tax - for the period | (632,394,678) | (356,258,093) | (276,232,735) | (246,044,979) |
Deferred tax | (69,449,795) | (432,342,666) | (94,681,430) | (351,172,325) |
(701,844,473) (788,600,759) (370,914,165) (597,217,304) | ||||
Profit for the period | 3,538,147,851 | 2,366,426,522 | 986,850,153 | 1,749,900,166 |
Other comprehensive income for the period: | ||||
Items that will not be reclassified subsequently to profit or loss: | ||||
Unrealized gain arising on re-measurement of long term investment at fair value | ||||
through other comprehensive income-net | 22,461,057 | 24,407,477 | 13,530,527 | 23,913,842 |
Total comprehensive income for the period 3,560,608,908 2,390,833,999 1,000,380,680 1,773,814,008 | ||||
------------- Rupees ------------- ------------- Rupees -------------
Earnings per share - basic and diluted 6.34 4.24 1.77 3.14
_______________________ _______________________ _______________________
Chief Executive Officer Director Chief Financial Officer
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
Chief Executive Officer
Director
Chief Financial Officer
AKD SECURITIES LIMITED
________________
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CASHFLOW (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
Half year ended December 31, 2025 2024
------------- Rupees ------------- | |||
CASH FLOW FROM OPERATING ACTIVITIES | |||
Profit before income and final taxes | 4,246,974,472 | 3,157,672,895 | |
Non-cash adjustments to reconcile profit before tax to net cash flows: | |||
Depreciation | 55,254,984 | 56,887,318 | |
Amortization | 698,160 | 1,143,230 | |
Gain on sale of short term investments 'at fair value through | (608,821,635) | (233,757,322) | |
profit and loss' - net Gain on sale of property and equipment | (48,367) | (24,079) | |
Unrealised gain on re-measurement of short term investments at fair value through profit or loss' - net | (2,485,270,698) | (1,893,895,386) | |
Reversal of doubtful debts-net | (10,851,809) | (22,365,536) | |
Finance cost | 22,690,154 | 49,515,185 | |
Dividend income | (46,547,652) | (188,824,095) | |
(3,072,896,863) (2,231,320,685) | |||
Working capital adjustments: | 1,174,077,609 | 926,352,210 | |
(Increase) in current assets | |||
Trade debts | (80,807,659) | (224,205,443) | |
Deposits, prepayments and other receivables | (728,337,525) | (2,663,640,046) | |
Loan and advances | 33,129,900 | (117,021,252) | |
Increase in current liabilities | (776,015,284) | (3,004,866,741) | |
Trade and other payables | 2,194,308,045 | 3,421,348,635 | |
2,592,370,370 | 1,342,834,104 | ||
Finance cost paid | (28,190,207) | (45,811,353) | |
Income tax paid | (393,759,975) | (127,022,100) | |
Net cash flows generated from operating activities | 2,170,420,188 | 1,170,000,651 | |
CASH FLOW FROM INVESTING ACTIVITIES | |||
Investments 'at fair value through profit or loss' - net | (519,640,866) | (240,895,189) | |
Purchase of property and equipment | (103,087,139) | 56,961,368 | |
Purchase of intangible assets | (500,000) | - | |
Proceeds from disposal of property and equipment | 64,500 | 161,732 | |
Additions to investment property | - | (72,461,774) | |
Dividend received | 46,547,652 | 188,824,095 | |
Net cash flows (used in) from investing activities | (576,615,853) | (67,409,768) | |
CASH FLOW FROM FINANCING ACTIVITIES | |||
Long-term loans and advances | (50,000,000) | 256,780,000 | |
Short term Financing | 449,883,091 | - | |
Repayment of Loan | (445,997,918) | (237,500,928) | |
Lease payments | 48,952,573 | (10,485,657) | |
Long-term deposits and prepayments | (1,166,520) | - | |
Dividend paid | (558,830,705) | (46,056,243) | |
Net cash flows (used in) from financing activities | (557,159,479) | (37,262,828) | |
Net increase in cash and cash equivalents | 1,036,644,856 | 1,065,328,055 | |
Cash and cash equivalents at the beginning of the period | 1,567,400,555 | 803,108,217 | |
Cash and cash equivalents at the end of the period | 2,604,045,411 | 1,868,436,272 | |
Cash and cash equivalents comprises of: | |||
Cash and bank balances | 2,604,045,411 | 1,868,436,272 | |
2,604,045,411 | 1,868,436,272 | ||
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information. | |||
Chief Executive Officer
Director
Chief Financial Officer
__ _____ ________________ ____________________
Chief Executive Officer Director Chief Financial Officer
AKD SECURITIES LIMITED
UNCONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
Share capital | Share premium | Revenue reserves | Fair value reserve | Total | |
General reserve | Accumulated profit/(loss) | ||||
Note ----------------------------------------------(Rupees)--------------------------------------------
Balance as at July 01, 2024 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 1,089,699,870 | 415,620,114 | 9,405,319,832 |
Profit for half year ended December 31, 2024 | - | - | - | 2,366,426,522 | - | 2,366,426,522 |
Other comprehensive income for the period | - | - | - | - | 24,407,477 | 24,407,477 |
Transaction with Owners: | ||||||
Final Dividend 2024: Rs.2.00 per share | - | - | - | (46,055,950) | - | (46,055,950) |
- | - | - | (46,055,950) | - | (46,055,950) | |
Balance as at December 31, 2024 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 3,410,070,442 | 440,027,591 | 11,750,097,881 |
Profit for half year ended June 30, 2025 | - | - | - | 789,909,101 | - | 789,909,101 |
Other comprehensive income for the period | - | - | - | - | 11,824,550 | 11,824,550 |
Transaction with Owners: | - | - | - | 789,909,101 | 11,824,550 | 801,733,651 |
Interim Dividend 2025: Rs. 1.00 per share | (557,834,167) | (557,834,167) | ||||
- | - | - | (557,834,167) | - | (557,834,167) | |
Balance as at June 30, 2025 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 3,642,145,376 | 451,852,141 | 11,993,997,365 |
Profit for half year ended December 31, 2025 | - | - | - | 3,538,147,851 | - | 3,538,147,851 |
Other comprehensive income for the period | - | - | - | - | 22,461,057 | 22,461,057 |
Transaction with Owners: | ||||||
Final Dividend 2025: Rs.1.00 per share | - | - | - | (557,834,171) | - | (557,834,171) |
- | - | - | (557,834,171) | - | (557,834,171) | |
Balance as at December 31, 2025 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 6,622,459,056 | 474,313,198 | 14,996,772,102 |
_______________________ _______________________ _______________________
Chief Executive Officer Director Chief Financial Officer
Half Yearly Report December 2025
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
Chief Executive Officer
Director
Chief Financial Officer
AKD SECURITIES LIMITED
NOTES TO THE UNCONSOLIDATED CONDENSED INTERIM FINANCIAL INFORMATION (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
STATUS AND NATURE OF BUSINESS
AKD Securities Limited (the company) was incorporated in Pakistan on 24 October 2000 under the Companies Ordinance, 1984 [(repealed with the enactment of Companies Act, 2017 (the Act)] and commenced its operations effective from 01 January 2003. On 03 June 2022 the transfer of assets and liabilities of AKD Securities Limited under a Scheme of Arrangement approved by the High Court of Sindh. The shares of the company are listed on the Pakistan Stock Exchange Limited (PSX). The company is licensed to operate as securities broker, consultant to the issue, and underwriter from the Securities Exchange Commission of Pakistan and holds a Trading Right Entitlement Certificate (TREC) of Pakistan Stock Exchange Limited and Membership card of Pakistan Mercantile Exchange Limited. The principal activities of the company are brokerage of shares and/or commodities/ money market / forex trading, financial research, book building, underwriting, investments in securities/commodities, corporate advisory and consultancy services. The registered office of the company is situated at 602 Continental Trade Center, Block-8, Clifton, Karachi.
The detail of immovable fixed assets / owned property are given below :
Room No 501 to 508, 5th floor, Trade Centre, I.I. Chundrigar Road, Karachi. Covered Area 6,000 Sq. Ft.
Room No 601 to 608, 6th floor, Trade Centre, I.I. Chundrigar Road, Karachi. Covered Area 6,500 Sq. Ft.
Room No 1005 to 1008, 10th floor, Trade Centre, I.I. Chundrigar Road, Karachi. Covered Area 3,081 Sq. Ft.
Room No 206 to 208, 2nd floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 8,177 Sq. Ft.
Room No 314, 3rd floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 1,250 Sq. Ft.
Room No 416 to 418, 4th floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 3,607 Sq. Ft.
Room No 506 to 507, 511 to 518, 5th floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 11,738 Sq. Ft.
Room No 601, 603 to 609, 617 to 618, 6th floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 12,650 Sq. Ft.
Room No 93 to 95, 2nd floor, PSX Building, Stock Exchange Road, Covered Area 690 Sq. Ft.
Booth No. 25, 30 & 54, located in the Trading Hall of the Pakistan Stock Exchange. The branch offices are situated at;
S.NO
City
Address
1
Abbottabad
Office No.2, 2nd Floor, Zaman Plaza, Main Mansehra Road,
2
Faisalabad
Suit No. 3, 1st Floor, Mezaan Executive Tower, Liaquat Road
3
Gujranwala
Shop # 81, Ground Floor, Gujranwala Development Authority, Trust Plaza
4
Islamabad
Room No.302, 303, 3rd Floor, ISE Tower, Jinnah Avenue,
5
Islamabad
Office at 90-91, Razia Sharif Plaza, Jinnah Avenue, Blue Area,
6
Karachi
Room No. 529, 5th Floor, Room Nos. 93-95, 2nd Floor, Stock Exchange Building, Stock Exchange Road,
7
Karachi
Plot # D-1, 2nd Floor, J.F. Plaza, North Nazimabad,
8
Lahore
512, 513, 5th Floor, LSE Plaza, 19 Khayaban-e-Aiwan-e-Iqbal Road,
9
Lahore
64-A, 2nd Floor, Fountain Avenue Building, Main Boulevard Road, Gulberg,
10
Multan
Ground Floor, State Life Building, Abdali Road,
11
Peshawar
1st Floor, SLIC Building # 34, The Mall, Peshawar Cantt
12
Rahim Yar Khan
Plot No.24, City Park Chowk, Model Town,
13
Sialkot
Ground Floor, City Tower, Shahab Pura Road
The company is a subsidiary of AKD Group Holdings (Pvt) Limited (the Parent), who holds 95.87% (2024: 95.87%) shares of the company.
These are separate Financial Statements of the Company in which investment in subsidiary is reported on the basis of cost.
BASIS OF PREPARATION
These unconsolidated condensed interim financial information of the Company for the half year ended December 31, 2025 have been prepared in accordance with the requirements of the International Accounting Standard 34 - "Interim Financial Reporting" and provisions of the Companies Act, 2017 and directives issued by the Securities and Exchange Commission of Pakistan (SECP). Wherever the requirements differ, the provisions of the Companies Act, 2017 and the said directives have been followed.
These unconsolidated condensed interim financial information do not include all the information and disclosures required in the Annual Financial Statements, and should be read in conjunction with the Company's Annual Financial Statements for the year ended June 30, 2025.
These unconsolidated condensed interim financial information are un-audited.
ACCOUNTING POLICIES, ESTIMATES AND JUDGEMENTS
ACCOUNTING POLICIES
The accounting policies adopted in the preparation of these unconsolidated condensed interim financial information are consistent with those of the previous financial year ended June 30, 2025.
ACCOUNTING ESTIMATES AND JUDGEMENTS
The preparation of these unconsolidated condensed interim financial information requires management to make estimates, assumptions and use judgements that affect the application of policies and reported amounts of assets and liabilities and income and expenses. Estimates, assumptions and judgements are continually evaluated and are based on historical experience and other factors, including reasonable expectation of future events. Revisions to accounting estimates are recognized prospectively commencing from the period of revision.
Judgements and estimates made by the management in the preparation of these unconsolidated condensed interim financial information are the same as those that were applied to the financial statements as at and for the year ended June 30, 2025.
The Company's financial risk management objectives and policies are consistent with those disclosed in the financial statements as at and for the year ended June 30, 2025.
FUNCTIONAL AND PRESENTATION CURRENCY
These financial statements are presented in Pakistani Rupees, which is Company's functional and presentation currency.
(Un-Audited) (Audited)
Note | December 31, 2025 June 30, | |||
2025 ------------- Rupees ------------- | ||||
5 PROPERTY AND EQUIPMENT | ||||
Operating fixed assets | 5.1 | 556,244,909 | 574,799,712 | |
Right of use asset | 5.2 | 99,385,462 | 22,173,017 | |
Advance against capital expenditure | 5.3 | 920,000,000 | 920,000,000 | |
1,575,630,371 | 1,516,972,729 | |||
5.1 Operating fixed assets Opening | 574,799,712 | 704,012,904 | ||
Additions during the period / year | 5.1.1 | 16,781,139 | 19,972,761 | |
Deletions during the period / year | (16,133) | (1,506,916) | ||
Transferred during the period / year (net) | - | (71,188,707) | ||
Depreciation charge for the period / year | (35,319,809) | (76,490,330) | ||
Book value at end of the period / year | 556,244,909 | 574,799,712 | ||
5.1.1 This includes addition of Rs.16,327,108, Rs. 344,531 and Rs. 109,550 in computer and office equipment, furniture and fixtures and Vehicles respectively.
Right-of-use- assets
(Un-Audited) (Audited)
Note December 31, 2025 June 30,
2025
------------- Rupees -------------
Opening 22,173,017 33,803,590
Additions during the period / year 86,306,000 11,112,670
Deletions/Transfers during the period / year - (5,125,912) Depreciation charge for the period / year (9,093,555) (17,617,331)
99,385,462 22,173,017
Advance against capital expenditure
Opening 5.3.1 920,000,000 920,000,000
Additions during the period / year - -
Transfer to Property and Equipment - -
Transfer to Investment Property - -
920,000,000 920,000,000
(Un-Audited)
(Audited)
Note
December 31, 2025
- Rup
June 30,
2025
es -------------
6
INVESTMENT PROPERTY
Net book value at the beginning of the period/year
Cost
433,664,795
357,389,243
Accumulated depreciation
(43,366,480)
(17,869,462)
Net book value at the beginning of the period/ year
390,298,315
339,519,781
Addition/Transfer during the period/year
Additions (at Cost)
-
-
Transfers (Cost)
5.1
-
76,275,552
Transfers (Accumulated Depreciation)
5.1
-
(3,813,777)
Depreciation charge for the period/ year
(10,841,620)
(21,683,240)
Net book value at the end of period/year
379,456,695
390,298,315
Analysis of net book value
Cost
433,664,795
433,664,795
Accumulated depreciation
(54,208,100)
(43,366,480)
Net book value at the end of period/year
379,456,695
390,298,315
Depreciation Rate (% per annum)
5
5
This represent the advance paid to Mr. Aqeel Karim Dhedhi against purchase of office premises measuring 4,888 square feet for a total agreed price of Rs 920 million.
e
The Investment property comprises 17 offices of 17,133.26 square feet on the 2nd, 4th & 5th Floor, Continental Trade Centre Block 8, Clifton, Karachi, Pakistan, the fair value of which has been determined based on the valuation carried out by an independent professional valuer as of June 30, 2024 which amounting to Rs.433.664 million (2025: Rs.433.64 million ) and has a forced sale value amounting to Rs 349.59 million
(2025: Rs 349.59 million )
The said property is rented out by Mr. Aqeel Karim Dhedhi related party. The company has made an agreement with Mr. Aqeel Karim Dhedhi to receive the rent of the said property from Mr. Aqeel Karim Dhedhi till the said property is transferred to the company's name.
(Un-Audited) (Audited)
Note December 31, 2025 June 30,
2025
------------- Rupees -------------
7 INTANGIBLE ASSETS | |||
Computer software | 7.1 | 2,783,228 | 2,981,388 |
Membership and booth of PMEX | 8,250,000 | 8,250,000 | |
Booths at PSX | 950,200 | 950,200 | |
License and trademark | 699,770 | 699,770 | |
TREC -PSX | 2,500,000 | 2,500,000 | |
Good will recognized under merger scheme | 7.2 | 3,137,826,767 | 3,137,826,767 |
3,153,009,965 | 3,153,208,125 | ||
7.1 Computer software | |||
Opening | 2,981,388 | 4,904,130 | |
Additions during the period / year | 500,000 | 686,500 | |
Amortization for the period / year | (698,160) | (2,609,242) | |
Book value at end of the period / year | 2,783,228 | 2,981,388 | |
7.2 Company engaged an independent valuer for impairment testing of the recoverable amount of goodwill amounting to Rs. 3.138 billion
including intangible assets acquired through a business combination has been tested for impairment as at 30 June 2025. This represents excess over fair value of net assets of AKD Securities Limited (AKDSL) on its acquisition. The recoverable amount of goodwill was tested for
impairment by allocating the amount of goodwill to respective assets on which it arose, based on value in use in accordance with IAS-36
"Impairment of Assets". The value in use calculations are based on cash flow projections. These are then extrapolated for a period of 5 years using a steady long term expected demand growth of 5% and terminal value determined based on long term earning multiples. The cash flows are discounted using a discount rate of 15.56%. Based on this calculation no impairment is required to be accounted for against the carrying amount of goodwill.
LONG-TERM INVESTMENTS
(Un-Audited) (Audited)
Note December 31, 2025 June 30,
2025
------------- Rupees -------------
Structured Venture (Private) Limited (Subsidiary) 8.1
Cost
488,581,200
488,581,200
Less: Provision for impairment
(488,581,200)
(488,581,200)
At fair value through Other Comprehensive Income
-
-
Pakistan Stock Exchange Limited (Quoted)
8.2
Cost
1,438,000
1,438,000
Unrealized gain period / year
73,868,732
43,396,595
Al Jomaih Power Limited (Unquoted)
8.3
75,306,732
44,834,595
Cost
184,196,957
184,196,957
Unrealized gain period / year
432,073,863
440,084,943
616,270,820
624,281,900
New Horizon Exploration and Production Limited - (Related Party)
8.4
Cost - Class 'A' ordinary shares
31,628,571
31,628,571
Less: impairment
(31,628,571)
(31,628,571)
At fair value through profit or loss
-
-
Unquoted entities
Garden View Apartment REIT (formerly Park View Apartment REIT) (PVAR)
8.5
343,004,673
343,004,673
Debt Securities
343,004,673
343,004,673
Thatta Cement Company Ltd Sukuk Certificate
8.6
310,000,000
-
310,000,000
-
1,344,582,225 1,012,121,168
Structured Venture (Private) Limited (SVPL) is a subsidiary of the company. The total amount of investment approved by the shareholders of the Company in the extra-ordinary general meeting held on June 22, 2010 was Rs. 625 million. As of the balance sheet date, the Company has invested a total sum of Rs. 488.581 million. However, the company has fully impaired its investment in SVPL due to operating losses.
Fair value of the investment as the year end was Rs. 36.90 per share (2025: 27.97 per share) as per quoted market price.
The Company's investment in unquoted shares of Al Jomaih Power Limited (AJPL) incorporated in Cayman Island are valued at its fair value based on the latest available net assets value of the investee Company as at June 30, 2023. The above figures are based on unaudited financial statements. The company holds 1.55% of total issued certificates of AJPL. To date company has received a return of Rs 72mn in forms of dividends and the total cost of investment is Rs 184.19mn (2025: 184.19mn).
In year 2015, the management recorded impairment of its investment in New Horizon Exploration and Production Limited (NHEPL) in accordance with IAS-36 which was again tested for impairment as required by IFRS 9 adopted by the company on January 01, 2019. The recoverable amount of investment was estimated using "Value in use" approach. In considering the impairment, various business assumptions for estimating cash flows were used, which includes but are not limited to, historical performance of the investment, development and production activity in NHEPL's working interests, recoverability of future cash flows from the investment etc. Based on such analysis, the Company fully impaired it's investment in NHEPL and an impairment loss of Rs. 31.63 million was recognized up to year 2016. As of reporting date there is no change in management assumption of recoverability of this investment, accordingly no impairment loss has been reversed.
This represents 25,678,000 units of Garden View Apartment Reit (formerly Park View Apartment REIT) (PVAR) scheme at a price of Rs. 10 per unit held in private placed closed-end limited life shariah compliant development REIT scheme which constitutes 11.91% of the total 215,686,647 units issued. The REIT is being managed by Arif Habib REIT Management Company Limited.
These represent the investments in Privately Placed Long-Term secured Islamic Sukuk with tenor of four years and offerring profit rate of six-month KIBOR plus 2.5% calculated on the face value of the respective Sukuks that is payable with principal and profit payments on a semi-annual basis.
(Un-Audited) (Audited)
Note December 31, 2025 June 30,
2025
------------- Rupees -------------
9 LONG-TERM LOANS AND ADVANCES | |||
Loans and advances to: | |||
Employees | 372,858 | 698,594 | |
Current maturity shown in current assets | (372,858) | (698,594) | |
- | - | ||
Advance Against Investment/Equity | |||
Neem Exponential Technology Pte. Limited | 28,122,000 | 28,122,000 | |
Air Karachi (Pvt) Ltd. | 100,000,000 | 50,000,000 | |
128,122,000 | 78,122,000 | ||
10 LONG-TERM DEPOSITS AND PREPAYMENTS | |||
Deposits with: | |||
- Pakistan Stock Exchange Limited (PSX) | 21,611,500 | 21,611,500 | |
- Pakistan Mercantile Exchange Limited (PMEX) | 4,000,000 | 4,000,000 | |
- Central Depository Company of Pakistan Limited (CDC) | 200,000 | 200,000 | |
- Rent deposits against rented premises | 7,359,277 | 7,359,277 | |
- Others | 7,783,735 | 6,617,215 | |
40,954,512 | 39,787,992 | ||
Prepayments | 18,000 | 18,000 | |
Less: Expected credit loss - rent deposits | (177,951) | (177,951) | |
40,794,561 39,628,041
(Un-Audited) (Audited)
Note December 31,
2025
June 30,
2025
SHORT-TERM INVESTMENTS
At fair value through profit or loss'
- Quoted Equity Securities
------------- Rupees -------------
Carrying Value 6,150,466,218 3,572,043,186
Unrealised gain on re-measurement of short term investments 'at fair value
through profit or loss' -net
2,485,270,698 1,859,960,530
8,635,736,916 5,432,003,716
-Term finance certificates - Pace Pakistan Ltd.
11.1 -
-
-
-
- Un Quoted Equity Securities
Musharka Investment (Bakhtiyar Mall)
11.2 100,000,000
-
8,735,736,916
5,432,003,716
Pace Pakistan Limited Term Finance Certificates (Face value Rs. 5,000/- each) amounting to Rs.18.147 Million has been fully impaired.
The Company has entered into a Musharaka (profit-and-loss sharing) arrangement with other Musharaka participants, under which Musharaka participants have contributed capital. Profits and loss are shared under Musharka agreement in proportion to the respective capital contributions.
(Un-Audited) (Audited)
Note December 31,
June 30,
2025 2025
------------- Rupees -------------
12 TRADE DEBTS | ||||
Receivable against purchase of marketable securities | 509,063,270 | 430,470,581 | ||
Receivable from National Clearing Company of Pakistan Limited | 97,702,985 | 107,520,945 | ||
Inter-bank brokerage | 64,098,199 | 51,792,139 | ||
Receivable against consultancy, advisory and underwriting | 7,449,577 | 7,722,706 | ||
678,314,031 | 597,506,371 | |||
Less: Allowance against expected credit loss | (115,828,803) | (126,680,611) | ||
562,485,228 | 470,825,760 | |||
13 DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES | ||||
Deposits: | ||||
Exposure deposit with -NCCPL | 6,142,043,716 | 5,312,089,332 | ||
Exposure deposit with -PMEX | 22,840,744 | 22,064,887 | ||
Others | 2,100,000 | 2,100,000 | ||
6,166,984,460 | 5,336,254,219 | |||
Less: Impact of expected credited loss | (2,100,000) | (2,100,000) | ||
6,164,884,460 | 5,334,154,219 | |||
Prepayments | 22,163,641 | 9,898,609 | ||
Other receivables: | ||||
Profit on bank deposits | 12,199,719 | 129,534,385 | ||
Rent receivable | 7,195,969 | - | ||
Others | 20,265,190 | 24,784,241 | ||
39,660,878 | 154,318,626 | |||
Less: Impact of expected credited loss | (5,248,912) | (5,248,912) | ||
34,411,966 | 149,069,714 | |||
6,221,460,067 | 5,493,122,542 | |||
14 LOANS AND ADVANCES | ||||
Advances to employees and executives | 14.1 | 22,161,437 | 33,558,218 | |
Short term loan to: | ||||
Holding company | 14.2 | 788,681,765 | 802,516,047 | |
Creek Developers (Private) Limited | 14.3 | 43,230,521 | 41,324,048 | |
831,912,286 | 843,840,095 | |||
Markup on short term loan to: | ||||
Holding company | 14.2 | 1,608,282 | 12,934,358 | |
Creek Developers (Private) Limited | 14.3 | 2,251,217 | 730,451 | |
3,859,499 | 13,664,809 | |||
857,933,222 | 891,063,122 | |||
These represent interest free loans to executives and staff for the purchase of vehicles and for other purposes in accordance with the terms of employment repayable over a year through deduction from salaries. These loans are secured against commission payable and balance of respective employees in Staff Provident Fund of respective employees.
The company has reclassified its balance receivable from holding company to short term loan receivable on demand under the authority of a special resolution passed in extra ordinary general meeting of the company held on 17 Octtober 2019 whereby it was resolved that the company may lend its surplus funds to Aqeel Karim Dhedhi Securities (Private) Limited (Holding company). Mark-up on outstanding balance of such loan is 3MK+2% per annum receivable in arrears.
This represents loan provided to Creek Developers Private Limited (a related party) on request and is receivable on demand. This carries Mark-up on outstanding balance of 3MK+2% per annum receivable in arrears.
(Un-Audited) (Audited)
December 31, June 30,
15 CASH AND BANK BALANCES
Company accounts
2025 2025
------------- Rupees -------------
Current accounts | 93,497,210 | 86,113,742 | ||
Saving accounts | 15.1 | 3,543,778 | 5,575,540 | |
97,040,988 | 91,689,282 | |||
Client accounts | ||||
Current accounts | 2,251,633,504 | 1,450,673,539 | ||
Saving accounts | 15.1 | 255,123,444 | 24,753,659 | |
2,506,756,948 | 1,475,427,198 | |||
Cash in hand | 247,475 | 280,777 | ||
Stamps in hand | - | 3,297 | ||
2,604,045,411 | 1,567,400,554 | |||
15.1 These carry profit at rates ranging from 2.72% to 9.5% (2025: 2.78% to 19.00%) per annum. | ||||
16 ISSUED, SUBSCRIBED AND PAID-UP CAPITAL |
89,867,900 | 89,867,900 | Ordinary shares of Rs. 10 each fully paid-up in cash | 898,679,000 | 898,679,000 | ||
10,132,100 | 10,132,100 | Ordinary shares of Rs. 10 each fully paid-up as part of the scheme of arrangement | 101,321,000 | 101,321,000 | ||
457,834,171 | 457,834,171 | Ordinary shares of Rs. 10 each fully paid-up as part of the scheme of merger | 4,578,341,710 | 4,578,341,710 | ||
557,834,171 | 557,834,171 | 5,578,341,710 | 5,578,341,710 |
The Company has single class of ordinary shares which carry no right to fixed income. The Holders are entitled to receive dividends as declared from time to time and are entitled to single vote at the Company. All shares rank equal with regards to the Company's residual assets.
(Un-Audited) | (Audited) | ||
Note | December 31, 2025 | June 30, 2025 | |
17 LEASE LIABILITIES | Rupee | s ------------- | |
Opening | 26,934,167 | 35,512,598 | |
Additions during the period / year | 86,306,000 | 11,112,670 | |
Deletions/ Transfers during the period / year | - | (5,125,911) | |
Payments made during the period / year | (35,275,489) | (14,565,190) | |
77,964,678 | 26,934,167 | ||
Transferred to current maturity | (16,308,458) | (10,316,779) | |
61,656,220 | 16,617,388 | ||
18 TRADE AND OTHER PAYABLES Trade creditors | 8,333,397,061 | 6,187,605,828 | |
Payable to National Clearing Company of Pakistan Limited | 16,000 | 63,980,830 | |
Accrued liabilities | 328,776,792 | 398,421,672 | |
Withholding tax | 10,071,059 | 36,646,462 | |
Provision for Workers' Welfare Fund - Sindh | 219,797,814 | 133,346,331 | |
Payable to staff provident fund | 3,680,474 | 12,068,000 | |
Unclaimed deposits by clients | 41,237,213 | 31,529,720 | |
Others | 195,012,856 | 74,082,381 | |
9,131,989,269 | 6,937,681,224 |
SHORT TERM FINANCING- SECURED
445,997,918
449,883,091
Loan from financial institution 19.1
449,883,091 445,997,918
This represents a short-term Shares Murabaha Facility obtained from Dubai Islamic Bank Pakistan Limited, amounting to Rs. 450 million. The facility is structured on a run-down basis under a markup arrangement at the rate of 6-month KIBOR plus 1% for a tenor of 180 days . The loan is secured through the pledge of shares and personal guarantees provided by the sponsor.
CONTINGENCIES AND COMMITMENTS
Contingencies:
There is no change in the status of contingencies as disclosed in the published annual financial statements for the year ended June 30, 2025.
Commitments:
Air Karachi (Pvt) Ltd.
150,000,000 200,000,000
(Un-Audited) (Un-Audited)
Half year ended December 31, Quarter ended December 31, 2025 2024 2025 2024
OPERATING REVENUE
------------- Rupees -------------
------------- Rupees -------------
Brokerage 1,555,868,437 958,788,250 800,242,926 628,469,826
Subscription research income 326,265 2,018,355 164,077 2,018,355
Financial advisory fee 97,600,000 18,379,631 70,850,000 17,179,631 Underwriting commission - 1,000,000 - -
1,653,794,702 980,186,236 871,257,003 647,667,812
RELATED PARTY TRANSACTIONS
Related parties comprise of Parent company, major shareholders, associated companies with or without common directors, other companies with common directors, retirement benefit fund, directors, key management personnel and their close family members. Contribution to defined contribution plan (provident fund) are made as per the terms of employment. Remuneration of key management personnel are in accordance with their terms of engagements. Transactions with other related parties are entered into at rates negotiated with them (agreed terms).
The balances with related parties as at December 31, 2025 and June 30, 2025 and transaction with related parties during the period ended December 31, 2025 December 31, 2024 are as follows:
(Un-Audited) (Audited) December 31, 2025 June 30,2025
------------- Rupees -------------
Nature of related party | Balances at the reporting date | ||
Holding Company | Balance receivable period / year end | 790,290,047 | 815,450,405 |
Other Related Parties | Net Balance (payable) / receivable period / year end | 51,376,124 | 46,871,780 |
Key Personnels | Balance (payable) / receivable period / year end | 5,363,677 | (3,059,697) |
(Un-Audited)
December 31, 2025 December 31,2024
Nature of related party Holding Company | Nature of transactions during the period Mark up accrued on loan during the period | 45,257,301 | 96,024,720 | ||||
Other Related Parties | Mark up accrued on loan during the period | 2,816,951 | 3,486,606 | ||||
Brokerage earned | 6,328,279 | 4,333,019 | |||||
Key Personnels | Brokerage earned | 3,807,366 | 2,149,376 | ||||
Managerial and commission | 27,880,000 | 10,737,000 | |||||
Meeting fee | 360,000 | 492,000 | |||||
Company contribution to provident fund | 1,083,606 | 650,664 | |||||
OPERATING SEGMENTS December 31,2025 (Un-Audited) | |||||||
Brokerage | Advisory & Research | Underwriting | Other Operation | Total | |||
Segment revenues | 1,555,868,437 | 97,926,265 | - | 3,332,423,120 | 4,986,217,822 | ||
Administrative and operating expenses (other than depreciation | (229,540,510) | (14,447,266) | - | (427,512,453) | (671,500,229) | ||
and amortization) (Provision) / reversal against doubtful debts-net | 10,851,809 | - | - | - | 10,851,809 | ||
Depreciation | (18,887,942) | (1,188,806) | - | (35,178,236) | (55,254,984) | ||
Amortisation of intangible assets | (238,654) | (15,020) | - | (444,486) | (698,160) | ||
Finance cost | (7,756,229) | (488,177) | - | (14,445,748) | (22,690,154) | ||
1,310,296,911 | 81,786,997 | - | 2,854,842,196 | 4,246,926,104 | |||
Gain on sale of operating assets | 48,367 | ||||||
Taxation | (708,826,620) | ||||||
Profit after tax | 3,538,147,851 | ||||||
Segment assets | 8,381,072,378 | 498,879,016 | - | 16,723,305,267 | 25,603,256,661 | ||
------------- Rupees -------------
23
Segment liabilities 9,071,057,981 43,831,859 - 1,491,594,719 10,606,484,559
December 31, 2024 (Un-Audited)
Segment revenues | Brokerage 958,788,250 | Financial Advisory 20,397,986 | Underwriting 1,000,000 | Other Operation 2,762,884,123 | Total 3,743,070,359 | ||
Administrative and operating expenses (other than depreciation | (141,788,025) | (3,016,506) | (147,883) | (355,288,934) | (500,241,347) | ||
and amortization) (Provision) / reversal against doubtful debts-net | 22,365,536 | - | - | - | 22,365,536 | ||
Depreciation | (16,124,098) | (343,036) | (16,817) | (40,403,367) | (56,887,318) | ||
Amortisation of intangible assets | (324,036) | (6,894) | (338) | (811,962) | (1,143,230) | ||
Finance cost | (14,034,546) | (298,582) | (14,638) | (35,167,419) | (49,515,185) | ||
- | |||||||
808,883,081 16,732,969 820,325 | 2,331,212,442 | 3,157,648,816 | |||||
Gain on sale of operating assets | 24,079 | ||||||
Taxation | (791,246,374) | ||||||
Profit after tax | 2,366,426,522 | ||||||
Segment assets | 5,629,079,735 129,996,893 | 5,267,130 | 14,552,470,839 | 20,316,814,597 | |||
Segment liabilities | 7,589,574,533 7,158,661 | 350,949 | 969,632,573 | 8,566,716,716 | |||
OTHER DISCLOSURES UNDER REGULATION 34(2) OF THE SECURITIES BROKER (LICENSING AND OPERATIONS) REGULATION 2016:
The disclosures under the regulation 34(2), other than disclosed elsewhere in these annual financial statements are as follows:
24.1
Person holding more than 5% of shares
December 31, 2025 June 30,2025 December 31, 2025 June 30,2025
% of holding Number of shares
M/s AKD Group Holdings (Private) Limited (the Parent) 95.87% 95.87% 534,806,196 534,806,196
As at December 31, 2025, the value of shares pledged with financial institutions amounted to Rs.2,229.60 million (June 2025: 1,484.54million) out of which the value of Company's shares pledged with banks amounted to Rs. 1,030.952 million (June 2025: 1,235.36 million) and the value of customer shares maintained with the company pledged with financial institution is Rs. 1,717.541 million (June 30, 2025:Rs. 249.18 million).
As at December 31, 2025, the value of customer shares maintained with the company sub-Accounts held in the Central Depository Company of Pakistan Limited is Rs.172,719.30 million (June 30, 2025: Rs. 128,494.58 million).
DATE OF AUTHORISATION
These condensed Interim Financial Information have been authorised for issue by the Board of Directors of the Company on
16 Feb 2026 .
GENERAL
______________________ ______________________ ______________________
Chief Executive Officer Director Chief Financial Officer
Chief Executive Officer
Director
Chief Financial Officer
Figures have been rounded off to the nearest rupees.
CONSOLIDATED CONDENSED
INTERIM FINANCIAL
INFORMATION (UN-AUDITED)
Half Yearly Report December 2025
FOR THE HALF YEAR ENDED DECEMBER 2025
THIS PAGE IS LEFT BLANK INTENTIONALLY
AKD SECURITIES LIMITED CONSOLIDATED CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2025 | ||
(Un-Audited) | (Audited) | |
December 31, 2025 | June 30, 2025 | |
Note
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
17
20
------------- Rupees -------------
Non-current assets | ||
Property and equipment | 1,575,630,371 | 1,516,972,729 |
Investment property | 379,456,695 | 390,298,315 |
Intangible assets | 3,153,009,965 | 3,153,208,125 |
Long-term investments | 1,344,582,225 | 1,012,121,168 |
Long-term loans and advances | 128,122,000 | 78,122,000 |
Long-term deposits and prepayments | 40,794,561 | 39,628,041 |
6,621,595,817 | 6,190,350,378 | |
Current assets | ||
Short-term investments | 8,735,736,916 | 5,432,003,716 |
Trade debts | 562,485,228 | 470,825,760 |
Deposits, prepayments and other receivables | 6,221,461,033 | 5,493,123,772 |
Loans and advances | 857,933,222 | 891,063,122 |
Cash and bank balances | 2,604,216,059 | 1,567,571,441 |
18,981,832,458 | 13,854,587,811 | |
TOTAL ASSETS | 25,603,428,275 | 20,044,938,189 |
EQUITY AND LIABILITIES | ||
Share capital and reserves | ||
Authorised Capital 700,000,000 Ordinary shares of Rs. 10 each | 7,000,000,000 | 7,000,000,000 |
Issued, subscribed and paid-up capital | 5,578,341,710 | 5,578,341,710 |
Share premium | 2,302,905,878 | 2,302,905,878 |
Fair value reserve | 430,942,317 | 408,481,260 |
General reserve | 18,752,260 | 18,752,260 |
Accumulated profit | 6,665,449,059 | 3,685,215,951 |
14,996,391,224 | 11,993,697,059 | |
Non-current liabilities | ||
Deferred taxation - net | 300,404,933 | 230,955,137 |
Lease liabilities | 61,656,220 | 16,617,388 |
362,061,153 | 247,572,525 | |
Current liabilities | ||
Trade and other payables | 9,132,780,233 | 6,938,390,869 |
Short term financing-secured | 449,883,091 | 445,997,918 |
Current portion of lease liabilities | 16,308,458 | 10,316,779 |
Unclaimed dividend | 6,246,134 | 7,242,666 |
Taxation - net | 625,442,058 | 379,826,458 |
Accrued mark-up | 14,315,923 | 21,893,915 |
10,244,975,898 | 7,803,668,604 | |
TOTAL EQUITY AND LIABILITIES | 25,603,428,275 | 20,044,938,189 |
CONTINGENCIES AND COMMITMENTS | ||
____________________ __________________ ____________________
Chief Executive Officer Director Chief Financial Officer
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
Chief Executive Officer
Director
Chief Financial Officer
The annexed notes 1 to 10 form an integral part of these Condensed Interim Financial Information.
AKD SECURITIES LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
Note
21
Half year ended December 31, Quarter ended December 31, 2025 2024 2025 2024
------------- Rupees ------------- ------------- Rupees -------------
Operating revenue 1,653,794,702 980,186,236 871,257,003 647,667,812
Net gain on investments
608,821,635 | 233,757,322 | 157,040,666 | 198,702,708 |
2,485,270,698 | 1,893,895,386 | 651,663,241 | 1,473,994,444 |
Gain on sale of short term investments 'at fair value 'through profit and loss' - net
Unrealised gain on re-measurement of short-term 'investments at fair value through profit or loss' -net
3,094,092,333 | 2,127,652,708 | 808,703,907 | 1,672,697,152 | |
Dividend income | 46,547,652 | 188,824,095 | 22,696,563 | 187,223,454 |
Mark-up / profit on bank deposits and other income | 181,774,492 | 432,250,900 | 39,071,838 | 194,429,198 |
4,976,209,179 | 3,728,913,939 | 1,741,729,311 | 2,702,017,616 | |
Operating and administrative expenses | (727,539,932) | (558,358,575) | (404,826,082) | (340,910,890) |
Reversal against expected credited loss | 10,851,809 | 22,365,536 | 31,323,022 | 1,726,128 |
(716,688,123) (535,993,039) (373,503,060) (339,184,762)
Operating profit 4,259,521,056 3,192,920,900 1,368,226,251 2,362,832,854
Finance cost (22,690,154) (49,515,185) (10,412,867) (19,177,328)
4,236,830,902 | 3,143,405,715 | 1,357,813,384 | 2,343,655,526 | |
Other income | 10,062,998 | 14,189,078 | 5,480,677 | 5,819,127 |
Profit before income and final taxes | 4,246,893,900 | 3,157,594,793 | 1,363,294,061 | 2,349,474,653 |
Final taxes | (6,982,148) | (2,645,614) | (5,572,635) | (2,405,518) |
Profit before Income Tax | 4,239,911,752 | 3,154,949,179 | 1,357,721,426 | 2,347,069,135 |
Income tax | ||||
Current Tax - for the period | (632,394,678) | (356,258,093) | (276,232,735) | (246,044,979) |
Deferred tax | (69,449,795) | (432,342,666) | (94,681,430) | (351,172,325) |
(701,844,473) (788,600,759) (370,914,165) (597,217,304) | ||||
Profit for the period | 3,538,067,279 | 2,366,348,420 | 986,807,261 | 1,749,851,831 |
Other comprehensive income for the period: | ||||
Items that will not be reclassified subsequently to profit or loss: | ||||
Unrealized gain arising on re-measurement of long term investment at fair value | ||||
through other comprehensive income-net | 22,461,057 | 24,407,477 | 13,530,527 | 23,913,842 |
Total comprehensive income for the period 3,560,528,336 2,390,755,897 1,000,337,788 1,773,765,673 | ||||
------------- Rupees ------------- ------------- Rupees -------------
Earnings per share - basic and diluted 6.34 4.24 1.77 3.14
_______________________ _______________________ _______________________
Chief Executive Officer Director Chief Financial Officer
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
Chief Executive Officer
Director
Chief Financial Officer
The annexed notes 1 to 10 form an integral part of these Condensed Interim Financial Information.
AKD SECURITIES LIMITED
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CASHFLOW (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
Half year ended December 31, 2025 2024
------------- Rupees ------------- | |||
CASH FLOW FROM OPERATING ACTIVITIES | |||
Profit before income and final taxes | 4,246,893,900 | 3,157,594,793 | |
Non-cash adjustments to reconcile profit before tax to net cash flows: | |||
Depreciation | 55,254,984 | 56,887,318 | |
Amortization | 698,160 | 1,143,230 | |
Gain on sale of short term investments 'at fair value through | (608,821,635) | (233,757,322) | |
profit and loss' - net | - | ||
Gain on sale of property and equipment | (48,367) | (24,079) | |
Unrealised gain on re-measurement of short term investments | - | ||
at fair value through profit or loss' - net | (2,485,270,698) | (1,893,895,386) | |
Reversal of doubtful debts-net | (10,851,809) | (22,365,536) | |
Finance cost | 22,690,154 | 49,515,185 | |
Dividend income | (46,547,652) | (188,824,095) | |
(3,072,896,863) (2,231,320,686) | |||
Working capital adjustments: | 1,173,997,037 | 926,274,107 | |
(Increase) in current assets | |||
Trade debts | (80,807,659) | (224,205,443) | |
Deposits, prepayments and other receivables | (728,337,261) | (2,663,638,152) | |
Loan and advances | 33,129,900 | (117,021,252) | |
Increase in current liabilities | (776,015,020) | (3,004,864,847) | |
Trade and other payables | 2,194,389,364 | 3,421,424,613 | |
2,592,371,381 | 1,342,833,873 | ||
Finance cost paid | (28,190,207) | (45,811,353) | |
Income tax paid | (393,761,224) | (127,023,667) | |
Net cash flows generated from operating activities | 2,170,419,951 | 1,169,998,853 | |
CASH FLOW FROM INVESTING ACTIVITIES | |||
Investments 'at fair value through profit or loss' - net | (519,640,866) | (240,895,189) | |
Purchase of property and equipment | (103,087,139) | 56,961,368 | |
Purchase of intangible assets | (500,000) | - | |
Proceeds from disposal of property and equipment | 64,500 | 161,732 | |
Additions to investment property | - | (72,461,774) | |
Dividend received | 46,547,652 | 188,824,095 | |
Net cash flows (used in) from investing activities | (576,615,853) | (67,409,768) | |
CASH FLOW FROM FINANCING ACTIVITIES | |||
Long-term loans and advances | (50,000,000) | 256,780,000 | |
Short term Financing | 449,883,091 | - | |
Repayment of Loan | (445,997,918) | (237,500,928) | |
Lease payments | 48,952,573 | (10,485,657) | |
Long-term deposits and prepayments | (1,166,520) | - | |
Dividend paid | (558,830,705) | (46,056,243) | |
Net cash flows (used in) from financing activities | (557,159,479) | (37,262,828) | |
Net increase in cash and cash equivalents | 1,036,644,618 | 1,065,326,257 | |
Cash and cash equivalents at the beginning of the period | 1,567,571,441 | 803,415,126 | |
Cash and cash equivalents at the end of the period | 2,604,216,059 | 1,868,741,383 | |
Cash and cash equivalents comprises of: | |||
Cash and bank balances | 2,604,216,059 | 1,868,741,383 | |
2,604,216,059 | 1,868,741,383 | ||
The annexed notes 1 to 10 form an integral part of these Condensed Interim Financial Information. | |||
_______________________ ________________ ____________________
Chief Executive Officer Director Chief Financial Officer
Chief Executive Officer
Director
Chief Financial Officer
AKD SECURITIES LIMITED
CONSOLIDATED CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
Share capital | Share premium | Revenue reserves | Fair value reserve | Total | |
General reserve | Accumulated profit/(loss) | ||||
_______________________ _______________________ _______________________
Chief Executive Officer Director Chief Financial Officer
The annexed notes 1 to 26 form an integral part of these Condensed Interim Financial Information.
The annexed notes 1 to 10 form an integral part of these Condensed Interim Financial Information.
Chief Executive Officer
Director
Chief Financial Officer
Half Yearly Report December 2025
Note ----------------------------------------------(Rupees)--------------------------------------------
Balance as at July 01, 2024 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 1,132,909,087 | 372,249,233 | 9,405,158,168 |
Profit for half year ended December 31, 2024 | - | - | - | 2,366,348,420 | - | 2,366,348,420 |
Other comprehensive income for the period | - | - | - | - | 24,407,477 | 24,407,477 |
Transaction with Owners: | ||||||
Final Dividend 2024: Rs.2.00 per share | - | - | - | (46,055,950) | - | (46,055,950) |
- | - | - | (46,055,950) | - | (46,055,950) | |
Balance as at December 31, 2024 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 3,453,201,557 | 396,656,710 | 11,749,858,115 |
Profit for half year ended June 30, 2025 | - | - | - | 789,848,561 | - | 789,848,561 |
Other comprehensive income for the period | - | - | - | - | 11,824,550 | 11,824,550 |
Transaction with Owners: | - | - | - | 789,848,561 | 11,824,550 | 801,673,111 |
Interim Dividend 2025: Rs. 1.00 per share | (557,834,167) | (557,834,167) | ||||
- | - | - | (557,834,167) | - | (557,834,167) | |
Balance as at June 30, 2025 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 3,685,215,951 | 408,481,260 | 11,993,697,059 |
Profit for half year ended December 31, 2025 | - | - | - | 3,538,067,279 | - | 3,538,067,279 |
Other comprehensive income for the period | - | - | - | - | 22,461,057 | 22,461,057 |
Transaction with Owners: | ||||||
Final Dividend 2025: Rs.1.00 per share | - | - | - | (557,834,171) | - | (557,834,171) |
- | - | - | (557,834,171) | - | (557,834,171) | |
Balance as at December 31, 2025 | 5,578,341,710 | 2,302,905,878 | 18,752,260 | 6,665,449,059 | 430,942,317 | 14,996,391,224 |
AKD SECURITIES LIMITED
NOTES TO THE CONSOLIDATED CONDENSED INTERIM FINANCIAL INFORMATION (UN-AUDITED) FOR THE HALF YEAR ENDED DECEMBER 31, 2025
STATUS AND NATURE OF BUSINESS
The Group comprises of:
-Holding Company - AKD Securities Limited - AKDSL
-Subsidiary Company - Structured Venture (Private) Limited (SVPL)
AKD Securities Limited (the company) was incorporated in Pakistan on 24 October 2000 under the Companies Ordinance, 1984 [(repealed with the enactment of Companies Act, 2017 (the Act)] and commenced its operations effective from 01 January 2003. On 03 June 2022 the transfer of assets and liabilities of AKD Securities Limited under a Scheme of Arrangement approved by the High Court of Sindh. The shares of the company are listed on the Pakistan Stock Exchange Limited (PSX). The company is licensed to operate as securities broker, consultant to the issue, and underwriter from the Securities Exchange Commission of Pakistan and holds a Trading Right Entitlement Certificate (TREC) of Pakistan Stock Exchange Limited and Membership card of Pakistan Mercantile Exchange Limited. The principal activities of the company are brokerage of shares and/or commodities/ money market / forex trading, financial research, book building, underwriting, investments in securities/commodities, corporate advisory and consultancy services. The registered office of the company is situated at 602 Continental Trade Center, Block-8, Clifton, Karachi.
The detail of immovable fixed assets / owned property are given below :
Room No 501 to 508, 5th floor, Trade Centre, I.I. Chundrigar Road, Karachi. Covered Area 6,000 Sq. Ft.
Room No 601 to 608, 6th floor, Trade Centre, I.I. Chundrigar Road, Karachi. Covered Area 6,500 Sq. Ft.
Room No 1005 to 1008, 10th floor, Trade Centre, I.I. Chundrigar Road, Karachi. Covered Area 3,081 Sq. Ft.
Room No 206 to 208, 2nd floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 8,177 Sq. Ft.
Room No 314, 3rd floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 1,250 Sq. Ft.
Room No 416 to 418, 4th floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 3,607 Sq. Ft.
Room No 506 to 507, 511 to 518, 5th floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 11,738 Sq. Ft.
Room No 601, 603 to 609, 617 to 618, 6th floor, Continental Trade Centre, Block-8, Clifton, Karachi. Covered Area 12,650 Sq. Ft.
Room No 93 to 95, 2nd floor, PSX Building, Stock Exchange Road, Covered Area 690 Sq. Ft.
Booth No. 25, 30 & 54, located in the Trading Hall of the Pakistan Stock Exchange. The branch offices are situated at;
S.NO
City
Address
1
Abbottabad
Office No.2, 2nd Floor, Zaman Plaza, Main Mansehra Road,
2
Faisalabad
Suit No. 3, 1st Floor, Mezaan Executive Tower, Liaquat Road
3
Gujranwala
Shop # 81, Ground Floor, Gujranwala Development Authority, Trust Plaza
4
Islamabad
Room No.302, 303, 3rd Floor, ISE Tower, Jinnah Avenue,
5
Islamabad
Office at 90-91, Razia Sharif Plaza, Jinnah Avenue, Blue Area,
6
Karachi
Room No. 529, 5th Floor, Room Nos. 93-95, 2nd Floor, Stock Exchange Building, Stock Exchange Road,
7
Karachi
Plot # D-1, 2nd Floor, J.F. Plaza, North Nazimabad,
8
Lahore
512, 513, 5th Floor, LSE Plaza, 19 Khayaban-e-Aiwan-e-Iqbal Road,
9
Lahore
64-A, 2nd Floor, Fountain Avenue Building, Main Boulevard Road, Gulberg,
10
Multan
Ground Floor, State Life Building, Abdali Road,
11
Peshawar
1st Floor, SLIC Building # 34, The Mall, Peshawar Cantt
12
Rahim Yar Khan
Plot No.24, City Park Chowk, Model Town,
13
Sialkot
Ground Floor, City Tower, Shahab Pura Road
The company is a subsidiary of AKD Group Holdings (Pvt) Limited (the Parent), who holds 95.87% (2024: 95.87%) shares of the company.
These are separate Financial Statements of the Company in which investment in subsidiary is reported on the basis of cost.
BASIS OF PREPARATION
These consolidated condensed interim financial information of the Company for the half year ended December 31, 2025 have been prepared in accordance with the requirements of the International Accounting Standard 34 - "Interim Financial Reporting" and provisions of the Companies Act, 2017 and directives issued by the Securities and Exchange Commission of Pakistan (SECP). Wherever the requirements differ, the provisions of the Companies Act, 2017 and the said directives have been followed.
These consolidated condensed interim financial information do not include all the information and disclosures required in the Annual Financial Statements, and should be read in conjunction with the Company's Annual Financial Statements for the year ended June 30, 2025.
These consolidated condensed interim financial information are un-audited.
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