Transmission of Quarterly Report for the Period Ended Sep-2025

B.F. MODARABA Quarterly Accounts

CORPORATE INFORMATION

MODARABA MANAGEMENT COMPANY

E. A. Management (Pvt.) Ltd.

BOARD OF DIRECTORS

DIRECTORS OF MODARABA MANAGEMENT COMPANY

Mr. Ahmed Ali Mohammad Amin Bawany Chairman

Mr. Bilal Omar Bawany Chief Executive

Mr. Muhammad Omar Amin Bawany Director

Mr. Muhammad Altamash Bawany Director

Mr. Muhammad Sheryar Bawany Director

Mr. Muhammad Samiullah Independent Director

Ms. Tasneem Yusuf Independent Director

AUDIT COMMITTEE

Mr. Muhammad Samiullah Chairman

Mr. Ahmed Ali Mohammad Amin Bawany Member

Mr. Muhammad Omar Amin Bawany Member

Ms. Tasneem Yusuf Member

HUMAN RESOURCE & REMUNERATION COMMITTEE

Mr. Muhammad Samiullah Chairman

Mr. Ahmed Ali Mohammad Amin Bawany Member

Mr. Muhammad Omar Amin Bawany Member

Mr.Bilal Omar Bawany Member

CFO & COMPANY SECRETARY

Mr. Muhammad Ayub

SHARIAH ADVISOR

Mr. Mufti Zubair Usmani

LEGAL ADVISOR

Mr. Ghullam Rasool Korai

MODARABA AUDITORS

M/s. RSM Avais Hyder Liaquat Nauman Chartered Accountants

BANKERS

Al-Baraka Islamic Bank

Bank Al-Habib Islamic Limited Habib Bank Limited

Habib Metropolitan Islamic Bank Limited UBL Ameen Islamic Bank

REGISTERED OFFICE

Plot No. 43-1-E (B), Block No. 06 Off Razi Road, P.E.C.H.S.,

Shahrah-e-Faisal, Karachi, Pakistan. UAN : 111-229-269

Fax : (92-21) 34322864

EMAIL & WEBSITE

E-mail: info@bfmodaraba.com.pk feedback@bfmodaraba.com.pk

URL: https://www.bfmodaraba.com.pk

SHARES REGISTRAR

M/s. C & K Management Associates (Pvt.) Limited M-13, Progressive Plaza, Plot No. 5 - CL - 10,

Civil Lines Quarter, Beaumont Road, Karachi -75530 Phone: 35687839-35685930

2

B.F. MODARABA Quarterly Accounts

DIRECTOR'S REPORTS

FOR THE PERIOD ENDED SEPTEMBER 30, 2025

Dear Certificate Holders, Assalamo Alaikum,

By grace of Almighty Allah I take pleasure in presenting a brief review of the performance of your Modaraba for the first quarter ended September 30, 2025.

Our gross revenue during the period stood at Rs. 7.912 millionvis-à-vis Rs. 5.185 millionfor the corresponding period of 2024-25, showing a significant increase. The major components of income comprised Trading Incomeof Rs. 4.773 million, Dividend Incomeof Rs. 0.615 million, Profit on Bank Depositsof Rs. 0.892 million, and Diminishing Musharakah Incomeof Rs. 0.645 million. The Pre-tax Profitstood at Rs. 4.249 millionagainst Rs. 1.814 millionfor the corresponding period of the previous year, reflecting improved operational performance.

The equity marketexhibited a positive trajectory during the period, with the KSE-100 Indexshowing an increase of 32%, closing at 165,493 pointsas of September 30, 2025. This upward trend favorably impacted the Modaraba's investment portfolio, resulting in an increase in unrealized gainfrom Rs.

21.472 millionto Rs. 31.226 millionin the valuation of marketable securities as at the reporting date.

The Management remains committed to prudent investment strategies and continuous improvement in all segments. Moreover, we will continue to focus on marketable securitiesand anticipate further enhancement in trading incomeand overall profitability, Insha'Allah.

We bow to Allah and pray for His blessing and guidance

AMEEN

Karachi:

October30, 2025 Chief Executive

3

B.F. MODARABA Quarterly Accounts

2025

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2025

4

Note

(Un-audited)

(Audited)

Sep-2025

June-2025

Rupees

ASSETS

NON-CURRENT ASSETS

Furniture and equipment

12,920

13,305

Long term deposits

40,019

40,019

Long term investments

1

83,285,609

52,543,309

Diminishing Musharaka

3

2,951,090

3,682,029

Long term Musharaka

2

-

-

86,289,638

56,278,662

CURRENT ASSETS

Prepayments and other receivables

597,611

10,807,273

Current portion of Diminishing Mushara

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 Liabilities

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

149,511,481

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

4,772,905

-

Unrealised Gain / (Loss) on remeasurement of

investments in units of mutual funds

987,477

128,298

7,912,470

5,185,124

Operating expenses

(3,191,797)

(3,169,826)

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.

Profit/ (loss) for the period

3,893,032

1,406,191

Other comprehensive income

Items that will not be subsequently reclassified to profit or loss

Surplus / (deficit) on re-measurement of investments classified as at fair value

9,754,824

2,419,387

through other comprehensive income

13,647,856

3,825,578

Description

Issued, subscribed and paid up capital

Reserves

Total

Statutory Reserves

Unappropriated Profit

Total Reserves

Balance as at July 1, 2024

75,151,587

50,255,171

(1,639,820)

48,615,351

123,766,938

Comprehensive income for the quarter

-

-

1,406,191

1,406,191

3,949,209

Balance as at September 30, 2024

75,151,587

50,255,171

(233,629)

50,021,542

127,716,148

Balance as at October 01, 2024

75,151,587

50,255,171

(233,629)

50,021,542

125,173,129

Comprehensive income for nine months

-

-

13,291,005

13,291,005

13,291,005

- Profit realized on disposal of investments

-

in ordinary shares of listed companies

-

-

11047347

11,047,347

11,047,347

Balance as at June 30, 2025

75,151,587

50,255,171

24,104,723

74,359,894

149,511,481

Balance as at July 1, 2025

75,151,587

50,255,171

24,104,723

74,359,894

149,511,481

Comprehensive income for the quarter

-

-

3,893,032

3,893,032

3,893,032

Balance as at September 30, 2025

75,151,587

50,255,171

27,997,756

78,252,927

153,404,514

A. CASH FLOWS FROM OPERATING ACTIVITIES

Profit before taxation

4,163,634

1,777,493

Adjustments for :

Depreciation- own assets

385

453

Unrealised Profit / (loss) on remeasurement of Mutual Fund

(987,477)

(128,298)

Provision for Provident fund

161,542

167,028

Trading

(4,772,905)

-

Bank Profit

(891,636)

(360,325)

Provision for Mangement fee

472,067

201,530

Provision for WWF

84,972

36,275

Diminishing Musharakah Income

(645,296)

(1,954,378)

Dividend Income

(615,156)

(2,742,123)

(7,193,504)

(4,779,838)

Changes in working capital

(3,029,870)

(3,002,345)

Decrease / (increase) in current assets :

Stock in Trade

54,025,400

-

Trade Debts

(69,382,000)

-

Prepayments and other receivable

(12,842,286)

4,375,387

Increase / (decrease) in current liabilities:

Accrued expenses

(882,709)

563,022

Net increase in working capital

(29,081,595)

4,938,409

Income tax refund received / (paid) - net

(10,854,302)

(425,351)

P.F Paid

(1,132,998)

(104,624)

Net cash Inflow(outflow) from operating activities

(44,100,647)

1,406,088

B CASH FROM INVESTING ACTIVITIES

Diminishing Musharakah

-

-

Sale / (Purchase) of investments - net

24,025,400

(10,000,000)

Dividend received

363,211

616,259

Bank Profit received

891,636

360,325

Net cash inflow(outflow) from investing activities

25,280,247

(9,023,416)

C. CASH FROM FINANCING ACTIVITIES

Net cash used in financing activities

-

-

Net increase/ (decrease) in cash and bank balances

(18,820,400)

(7,617,328)