January 20, 2026
The General Manager |
Pakistan Stock Exchange Limited |
Karachi. |
Dear Sir,
FINANCIAL RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025We have to inform you that the Board of Directors of M/s. IBL Modaraba Management (Private) Limited, Management Company of First IBL Modaraba (FIBLM), in its board meeting held on January 20, 2026 at 11:00 a.m., at the Registered Office at 4-L, Gulberg-III, Main Ferozepur Road, Lahore, approved accounts for the period ended September 30, 2025 and recommended as the following:
Cash Dividend |
Bonus Certificates |
Right Certificates |
Any Other Entitlement/ Corporate Action |
Any Other Price- Sensitive Information |
NIL |
NIL |
NIL |
NIL |
NIL |
The financial results of First IBL Modaraba are enclosed herewith.
The Financial Statements of the First IBL Modaraba for the period ended September 30, 2025 will be transmitted through PUCARS separately, within the specified time.
Thanking you.
Yours truly,
Muhammad Ibrahim Qazi |
Chief Executive |
CONDENSED INTERIM STATEMENT OF FINANCIAL POSITION (UN-AUDITED) |
AS AT SEPTEMBER 30, 2025 |
Sep, 2025 | Jun, 2025 |
Rupees | Rupees |
Note
Assets |
Non-current assets |
Fixed assets under ijarah arrangements |
Fixed assets under own use |
Long term musharakah receivables |
Long term deposits |
Deferred taxation |
6 | 24,005,687 | 20,669,211 |
7 | 32,933 | 32,933 |
19,441,602 | 31,772,278 | |
3,000 | 3,000 | |
11,328,306 | 11,328,306 | |
54,811,528 | 63,805,728 |
Current assets |
Short term musharakah receivables |
Ijarah rentals receivable |
Advances, prepayments and other receivables |
Current portion of long term musharakah receivables |
Advance income tax |
Short term investments |
Cash and bank balances |
30,000,000 | - |
2,876,812 | 2,215,680 |
2,988,279 | 1,671,134 |
11,800,000 | 16,706,050 |
5,042,234 | 4,193,736 |
3,217,793 | 3,217,793 |
172,487,347 | 182,027,614 |
228,412,465 | 210,032,007 |
283,223,993 | 273,837,735 |
4
5
3
Equity and Liabilities
Capital and reserves |
Certificate capital |
Statutory reserve |
Fair value reserve |
Accumulated loss |
216,875,000 | 216,875,000 |
56,543,935 | 55,054,483 |
2,384,236 | 2,384,236 |
(24,160,040) | (30,117,850) |
251,643,131 | 244,195,869 |
Non-current liabilities |
Long term deposits |
- | 733,000 |
Current liabilities |
Trade and other payables |
Current portion of long term security deposits |
Income tax payable |
Unclaimed dividend |
6,378,456 | 5,664,698 |
9,723,749 | 8,106,249 |
4,750,908 | 4,410,169 |
10,727,750 | 10,727,750 |
31,580,862 | 28,908,866 |
283,223,993 | 273,837,735 |
8 | Nil | Nil |
Contingencies and commitments
The annexed notes form an integral part of these financial statements.
CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER
FIRST IBL MODARABA |
CONDENSED INTERIM STATEMENT OF PROFIT AND LOSS ACCOUNT (UN-AUDITED) |
FOR THE QUARTER ENDED SEPTEMBER 30, 2025 |
Quarter ended | |||
Sep, 2025 | Sep, 2024 | ||
TOTAL INCOME | 13,051,090 12,932,317 |
EXPENSES | |
Administrative expenses | (1,617,741) |
Depreciation on assets under Ijarah | (2,637,924) |
(4,255,665) |
(3,834,289) |
(2,964,420) |
(6,798,709) |
INCOME FROM OPERATIONS | |
Income from Ijarah | 6,425,840 |
Profit on Musharaka investments | 2,403,180 |
8,829,020 | |
OTHER INCOME | |
Income from investment property | - |
Other Income | - |
Profit on deposits | 4,222,070 |
4,222,070 |
4,026,400 |
5,416,483 |
9,442,883 |
1,873,860 |
17,718 |
1,597,856 |
3,489,434 |
PROFIT BEFORE MANAGEMENT COMPANY'S FEE | 8,795,424 |
6,133,608
Charge of Modaraba management fee | (879,542) | (613,361) | |
Workers' welfare fund | (158,318) | (122,672) | |
PROFIT BEFORE LEVY AND TAXATION | 7,757,564 | 5,397,575 | |
Taxation | |||
- Current Period | (310,303) | (193,985) | |
- Deferred Tax | - | - | |
NET PROFIT FOR THE PERIOD | 7,447,262 | 5,203,590 |
Profit per Modaraba Certificate - Basic and Diluted | 0.34 |
The annexed notes form an integral part of these condensed interim financial information (un-audited).
CHIEF EXECUTIVE DIRECTOR DIRECTOR | CHIEF FINANCIAL OFFICER |
CONDENSED INTERIM STATEMENT OF CHANGES IN EQUITY |
FOR THE QUARTER ENDED SEPTEMBER 30, 2025 |
Particulars | Certificate Capital | Statutory reserve | Fair value reserve | Accumulated loss | Total Equity |
Rupees | |||||
Balance as at June 30, 2024
Comprehensive income for the year |
Net profit for the year |
Total comprehensive income for the year |
Transferred to statutory reserve |
Balance as at June 30, 2025 Comprehensive income for the period Net profit for the period
Other comprehensive loss for the period |
Total comprehensive loss for the period |
Transferred to statutory reserve |
216,875,000 | 49,686,655 | 1,748,795 | (51,589,164) | 216,721,286 |
- | - | - | - | |
- | - | 635,441 | 26,839,142 | 27,474,583 |
- - 635,441 26,839,142 27,474,583
- 5,367,828 (5,367,828)
216,875,000 | 55,054,483 | 2,384,236 | (30,117,850) | 244,195,869 |
- | - | - | - | - |
- - | - 7,447,262 7,447,262 - - - |
- - 7,447,262 7,447,262
1,489,452 (1,489,452) -
216,875,000 | 56,543,935 | 2,384,236 | (24,160,040) | 251,643,131 |
Balance as at September 30, 2025
The annexed notes form an integral part of these financial statements.
CHIEF EXECUTIVE DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER
FIRST IBL MODARABACONDENSED INTERIM CASH FLOW STATEMENT (UN-AUDITED) |
FOR THE QUARTER ENDED SEPTEMBER 30, 2025 |
Sep, 2025 |
Rupees |
Jun, 2025 |
Rupees |
CASH FLOWS FROM OPERATING ACTIVITIES |
Profit before tax |
Adjustments for: | |
- | Depreciation of fixed assets under own use |
- | Depreciation of investment properties |
- | Depreciation of fixed assets under Ijarah arrangements |
- | Gain on remeasurement of short term investment |
Credit balance written back | |
Debit balance written off | |
Gain on termination of Ijarah arrangements | |
Gain on disposal of investment property | |
- | Profit on bank deposits |
- 46,229 |
- 2,500,014 |
2,637,924 15,301,964 |
- (404,700) |
- (700,061) |
- 18,166 |
- (239,650) |
- (3,916,520) |
(4,222,070) (18,781,561) |
(1,584,146) (6,176,119) |
6,173,419 17,485,191 |
Operating profit before working capital changes | |
Decrease / (increase) in current assets: | |
- | Advances, prepayments and other receivables |
- | Ijarah rentals receivable |
Security deposits against ijarah assets | |
Musharaka finance | |
- | Trade and other payables |
Net cash Generated from / (Used in) changes in working capital | |
Cash Generated from Operations | |
(1,317,145) 5,098,750 |
(661,132) (1,731,183) |
884,500 5,012,098 |
- (700,000) |
(713,758) 1,679,688 |
(1,807,535) 9,359,353 |
4,365,884 26,844,544 |
7,757,564 23,661,310
Cash generated from operating activities |
Income tax / levies paid |
Profit received on bank deposits |
Net cash generated from operating activities |
(879,542) | (8,677,466) | |
4,222,070 | 18,781,561 | |
7,708,411 | 36,948,639 |
Cash flows from investing activities |
Purchase of assets under ijarah arrangements |
Long term musharakah receivables |
Short term musharakah receivables |
Long term deposits |
Proceeds from disposal of investment property |
Proceeds from disposal of assets on termination / completion of ijarahs |
Net cash generated from / (used in) investing activities |
(5,974,400) |
8,725,722 |
(20,000,000) |
- |
- |
- |
(17,248,678) |
(30,044,698) |
(23,172,974) |
44,000,000 |
17,500 |
43,500,000 |
4,637,050 |
38,936,878 |
Cash flow from financing activities |
Unclaimed dividend paid |
Net cash (used in) financing activities |
- |
- |
(106,848) |
(106,848) |
Net increase in cash and cash equivalents during the year |
Cash and cash equivalents at the beginning of the year |
Cash and cash equivalents at the end of the year |
(9,540,267) |
182,027,614 |
172,487,347 |
75,778,669 |
106,248,945 |
182,027,614 |
The annexed notes form an integral part of these condensed interim financial information (un-audited).
CHIEF EXECUTIVE OFFICER DIRECTOR DIRECTOR CHIEF FINANCIAL OFFICER