Ref. No: BF-763-PSX/2025-26
The General Manager,
Pakistan Stock Exchange Limited Stock Exchange Building,
Stock Exchange Road, Karachi.
Managed By
E.A. Management (Pvt.) Ltd.
October 30, 2025
FINANCIAL RESULTS OF B. F MODARABA FOR THE 1STQUARTER ENDED
SEPTEMBER 30, 2025
Dear Sir,
We have to inform you that the Board of Directors of E. A. Management (Pvt) Limited, the Management Company of B. F. Modaraba, in their meeting held on October 30, 2025 at 12:30
p.m has NOT declared any Cash Dividend or Bonus in respect of B. F. Modaraba for the 1stQuarter ended September 30, 2025.
Cash Dividend NIL
Bonus Shares NIL
Right Shares NIL
In compliance of Notice No. PSX/N-062 dated January 10, 2025; we enclosed herewith the following:
Financial Result (Statement of Profit or Loss)
Statement of Financial Position
Statement of Cash Flows
Statement of Changes in Equity
The Quarterly report of the Modaraba for the 1 t Quarter ended September 30, 2025 will be transmitted through PUCARS separately, within the specified time.
Yours truly,
uhammad Ayub
Thanking you,
Company Secretary
B.F.MODARABA
Plot No. 43-1-E, P.E.C.H.S, Block-6, Off Razi Road, Shahrah-e-Faisal, Karachi. Pakistan.
UAN:(92-21) 111 - 9-269. Fax: (92-21) 3 4322864
E-mail: in to bfinodaraba.com.pk. feedback@bfiuodaraba.cont.pk, URL: www,bfmodaraba.cont.pk
B.F.MODARABA BALANCE SHEET AS AT SEPTEMBER 30, 2025 (UNAUDITED)
Note
(Un-audited) Sep-2025
(Audited)
June-2025Rupees
ASSETS | |||||
NON-CURRENT ASSETS Furniture and equipment | 12,920 | 13,305 | |||
Long term deposits | 40,019 | 40,019 | |||
Long term investments | 83,285,609 | 52,543,309 | |||
Diminishing Musharaka | 2,951,090 | 3,682,029 | |||
Long term Musharaka | |||||
86,289,638 | 56,278,662 | ||||
CURRENT ASSETS | |||||
Prepayments and other receivables | 597,611 | 10,807,273 | |||
Current portion of Diminishing Musharal 3 | 11,166,375 | 13,798,999 | |||
Advance tax - net | 61,578 | 57,186 | |||
Stock in trade | 54,025,400 | ||||
Trade Debts | 69,382,000 | ||||
Cash and bank balances | 23,056,605 | 41,877,006 | |||
104,264,169 | 120,565,864 | ||||
Total Assets | 190,553.807 | 176,844,526 | |||
LIABILITIES & EQUITY | |||||
NON-CURRENT LIABILITIES | |||||
CURRENT LIABILITIES | |||||
Trade and other payables | 1,514,507 | 1,925,149 | |||
Due to Management Company | 2,717,375 | 2,245,308 | |||
Unclaimed Dividend | 1,690,889 | 1,690,889 | |||
Total Lialiilities | 5,922,771 | 5,861,346 | |||
CAPITAL AND RESERVES | |||||
Authorized Capital | |||||
10,000,000 Modaraba | |||||
Certificates of Rs. 10/- each | 100,000,000 | 100,000,000 | |||
Issued, subscribed and paid-up capital | 75,151,587 | 75,151,587 | |||
Reserve | 78,252,927 | 74,359,894 | |||
153,404,514 | 149,51 I ,481 | ||||
Unrealized (loss) /gain on re-measurement of investments | |||||
classified as fair value through other comprehensive iucon | 31,226,522 | 21,471,699 | |||
Total Liabilities and Equity | i 9o,5 3,807 | 176,844,526 | |||
The annexed notes form an integral part of these financial statements.
FOR E.A Management (Private) Limited (Management Company)
ChaimJan
Chief Executive Director
Chief Financial Officer
Quarterly Accounts
B.F. MODARABA
B.F.MODARABA
STATEMENT OF PROFIT AND LOSS ACCOUNT FOR THE QUARTER ENDED SEPTEMBER 30, 2025
September September 2025Rupees
Operating Incomes | ||
Dividend - net of zakat | 615,156 | 2,742,123 |
Profit on bank deposits | 891,636 | 360,325 |
Diminishing Musharakah Income | 645,296 | 1,954,378 |
Trading Income Unrealised Gain / (Loss) on remeasurement of investments in units of mutual funds | 4,772,905 987,477 | 128,298 |
7,912,470 | 5,185,124 | |
Operating expenses | (3,191,797) | (3,l69,826) |
Profit/(Loss) before charging management fee | 4,720,673 | 2,015,298 |
Provision for management fee | (472,067) | (201,530) |
Profit/(Loss) before wokers' welfare fund | 4,248,606 | 1,813,768 |
Provision for workers' welfare fund | (84,972) | (36,275) |
Profit/(Loss) before taxation | 4,163,634 | 1,777,493 |
Taxation - current | (270,602) | (371,301) |
Profit/(Loss) after taxation | 3,893,032 | 1,406,191 |
Earning per certificate - Basic and Diluted | 0.52 | 0.19 |
The annexed notes form an integral part of these financial statements. | ||
(Management Company)
Chairman
Chief Executive
Director
Chiéf Financial Officer
For E.A.Management (Pvt) Ltd.,
B.F. MODARABA Quarterly Accounts
B.F.MODARABA STATEMENT OF CHANGES IN EQUITY
FOR THE QUARTER ENDED SEPTEMBER 30, 2025
Description | Issued, scbstribtfi and prim up capital | Resents | Toa1 | ||
Statrton' Reserrs | IJnaypropriated Profit | Tolal Reserves | |||
Rupees
Balance as at 4ul' 1, 2024 | 75,131,387 | 30,255,171 | (1,639,820) | 48,615,331 | 123,766,938 | ||
1,406,191 | |||||||
BaI3nte as at September 30, 2014 | 75,151,387 | 3â,i55,l7l | (2U,6i9) | 30,011,541 | Ii7,7l6,148 | ||
Balance as at October 0l, 2024 | 75,151,J87 | 50,255,171 | (233,629) | 50,02l,J42 | 115,173,129 | ||
OI fthtflSiVtiñC0fMO#0II1ihtT0M(#£ | lJ,291,OOJ | lJ,29I,OOJ | lJ,19l,OOJ | ||||
- bf0fl fPlliZtd Otl dlS§0Sdl 0b ifi'tSlmtfltS in ordinary shares of listtd tornpanits | |||||||
Bslanit as at Junt 30, 2025 | 75,1;1,587 | 3â,i55,171 | 24,104,723 | 74,339,894 | 149,511,481 | ||
Balance as at luly 1, 2025 | |||||||
Comprehensi'e income for ILc quarter | 3,893,031 | ||||||
Balance zs zt September JO,2025 | 75,131,587 | 50,253,I71 | 27,997,756 | 78,252,917 | 153,404,›14 |
The annexed notes forn an integral part of these financial stcte+ents.
FOR E.A glanagtmenl (Privale) Limited
(h4ana°emtnI Company)
Charman
Chief Executive
D1ftCl0
ref Financial Officer
B.F. MODARABA Quarterly Accounts
B. F. MODARABA STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED SEPTEMBER 30, 2025September-2025 September-2024
Rupees
A. CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation
Adjustments for :
Depreciation- own assets
Unrealised Profit / (loss) on remeasurement of Mutual Fund
Provision for Provident fund Trading
Bank Profit
Provision for Mangement fee Provision for WWF
Diminishing Musharakah Income Dividend Income
Changes in working capital
Decrease / (increase) in current assets : Stock in Trade
Trade Debts
Prepayrnents and other receivable
Increase / (decrease) in current liabilities: Accrued expenses
Net increase in working capital
Income tax refund received / (pnid) - net
P.F Paid
Net cash Inflow(outflow) from operating activities
B CASH FROM INVESTING ACTIVITIES
Diminishing Musharakah
Sale / (Purchase) of investments - net
Dividend received Bank Profit received
Net cash inflow(outflow) from investing activities
C. CASH FROM FINANCING ACTIVITIES
Net cash used in financing activities
Net increase/ (decrease) in cash and bank balances
Cash and bank balances at the beginning of lhe period
4,163,634
385
(987,477)
161.542
(4,772,905)
(891,636)
472,067
84.972
(645,296)
(615,156)
(7.193,504)
(3.029,870)
54,025,400
(69,382.000)
(12,842,286)
(882,709)
(29,081,595)
(10,854,302) t*.132,998)
(44,100,64'7)
24,025,400
363,211
891,636
25,280,247
(18,820.400)
41,877,006
t,777,493
453
(t28,298)
167.028
(360,325) 2o i,530
36.275 l,9J4,378) (2,742,t23)
(4,779,838)
(3,002,345)
4,375,387
563,022
4,938,409
(425,351)
(104,624)
1,406,088
(io,ooo,ooo)
616,259
360,325
(9,023,416)
(7.617,328)
I 1,553,945
Cash and bank balances at the
period ended September 30, 2025
23,05fi,606
3,93C,6t7
The annexed notes form an integral part of these financial statements.
Chief Executive Director
Chief Financial Officer