PHONE : (021) 34370475-7
FAX : (021) 34370470
E-mail : modaraba@tristar.com.pk
February 26, 2026
The General Manager, Pakistan Stock Exchange Ltd., Stock Exchange Building, Karachi.
First Tri-Star Modaraba
Managed by:
A.R.T. Modaraba Management (Pvt) Ltd.
A/33, CENTRAL COMMERCIAL AREA,
BLOCK 7/8, MAIN SHAHRAH-E-FAISAL, KCHSU, KARACHI - 75350, PAKISTAN
Dear Sir,
Subject: Financial Results for the Half Year ended 31.12.2025
We have to inform you that the Board ofDirectors of our Modaraba in their meeting held on 26th February, 2026 at Karachi, recommended the following:
Cash dividend/Bonus/Rights/Any other entitlement: Nil
The required Statement of Financial Position, Statement of Profit & Loss, Statement of Changes in Equity & Statement of Cash Flows are attached.
The Half Yearly report of the Modaraba for the period ended 31.12.2025 will be transmitted through PUCARS separately, within specified time.
You rñay inform the TREC holders accordingly.
Thanking you.
Yours truly,
FIRST TRI-STAR MODARABA
Por A.R.T. Modaraba Management (Pvt) Ltd.
FIRST TRI-STAR f•ODARABA
CONDENSED INTERIOR STATEMENT OF FINANCIAL POSITION
AS AT DECEMBER 31, 2025
ASSETS
Non-current assets
(Un-audited) (Audited)December 3une
2025 2025
-----------Rupees-----------
Fixed assets
Long term deposlt Long term investments
11,133,23458,500
396,660,87622,946,557
58,500
555,9B0,342
Deferred tax asset - net 2,440,825
Current assets
Short term investments Advance and deposit Other recelvables
Cash and bank balances
410,293,435627,202 | 490,113 |
4,118,421 | |
8,578 | 8,578 |
16,145,209 | 2,993,562 |
578,985,399
7,610,674
TOTAL ASSETS
EQUITIES AND LIABILITIES
CAPITAL AND RESERVES
Authorized certificate capital
40,000,000 (2025: 40,000,000) Nodaraba Certificates of
Rs. 10 each
432,545,635 586,596,073
A00,00O,OOO 400,000,000
Issued, subscrlbed and paid-up certificate capital
211,631,040211,631,040
Reserves 151,190,636 141,746,639
Certificate holders' equity | 362,821,676 | 353,377,679 |
Deficit / Surplus on revaluation of investments | (30,276,371) | 89,038,057 |
NON CURRENT LIABILITIES | ||
Security deposits | 3,100,000 | 2,730,000 |
Deferred tax liabillty 37,274,076 | ||
3,100,000 | 40,004,076 | |
CURRENT LIABILITIES | ||
Accrued and other liabilities | 42,5A7,647 | 43,011,150 |
Current maturity of liability against right of use assets | 11,247,436 | 20,033,677 |
Provision for taxation | 3,564,171 | 1,590,356 |
Unclaime& dividend | 39,541,077 | 39,541,077 |
96,900,331 | 104,176,261 | |
TOTAL LIABILITIES | 100,000,331 | 144,180,337 |
TOTAL LIABILITIES AND EQUITY
Contingencies and Commitments
432,545,635 586,596,073
FIRST TRI-STAR MODARABA
CONDENSED STATEMENT OF PROFIT OR LOSS ACCOUNT AND OTHER COMPREHENSIVE INCOME (UN-AUDITED)
FOR THE SIX MONTHS AND QUARTER ENDED DECEMBER 31, 2025
Six months ended Quarter ended December 31, December 31, December 31, December 31,
2025 2024 2025 2024
-----------Rupees-----------
Income from academic activities Administrative expenses
Other income Financial charges
Operating profit / (Loss)
Modaraba Company's Management fee
Sindh sales tax on Modaraba Company's Management fee
Profit / (Loss) before levy and taxation
Levy
Profit / (Loss) before taxation Taxation
Profit / (Loss) after taxation
Earnings per certificate- basic and diluted
16,338,500 22,561,750 1,068,500 336,250
(22,124,503) (23,924,636) (13,691,328) (13,924,045)
(5,786,003) (1,362,886) (12,622,828) (13,587,795)
20,385,114 7,859,476 6,326,910 7,811,244
(836,139) (737,404) (99,394) (344,430)
13,762,972 5,759,186 (6,395,312) (6,120,981)
(523,267} (261,634)
(78,490) (39,245)
13,161,215 5,759,186 (6,696,190) (6,120,981)
(2,940,347) (1,402,605) (640,741) 10,220,868 4,356,581 (7,336,932) (6,120,981)
(776,871) 298,176 (776,871) 575,995
0.22
(0.26)
9,443,997 4,654,757 {8,113,803) (5,544,987)
FIRST TRI-STAR PIODARABA
CONDENSED 7MYERIM STATEf•fENT OF CHANGES IN EQUITY (UN-AUDITED) FOR THE SEX ftONTHS AND QUARTER ENDED DECE gBER 31, 2015
subscribed and paid-up certificate | Revenue reserve | holders' equity | ||
Statutory | General reserve | Unappropriated t(p ) | ||
4,654,757 | 4,654,757 |
Balance as at December 31, 2024
Balance as at 3uly 01, 2025 ProFrt for the period
Other comprehensive income
Total comprehensive income for the period
Final dividend for the year ended 'June 30, 20M
Transfer of reserve
Balance as at December 31, 2025 •
211,631,040 92,992,280 10,000,000 s , zg,oo7 373,062,327 211,631,040 92,99Z,28O 10,000,000 38,754,359
- | - | - |
Balance as at3uly 01, 2024 | 211,631,040 | 92,992,280 | 10,000,000 | 96,110,458 | 410,733,778 |
Profit for the period | |||||
Other comprehensive income | |||||
Total comprehensive income for the period Fina§dividehd for the year ended June 30, 2023 | 4,654,757 | 4,654,757 | |||
Interim dividend for the year ended 'June 30, 202 | (42,326,208) | (42,326,208) | |||
Transfer of reserve |
211,631,040 92,992,Z8O 10,000,000 48,198,356 362,821,676
FIRST TRI-STAR MODARABA
CONDENSED STATEI'•1ENT OF CASH FLOW (UN-AUDITED)
FOR THE SIX MONTBS AND QUARTER ENDED DECEPIBER 31, 2025
Six months ended
December 31, December-31,
2025 2024
-----------Rupees-----------
CASH FLOW FROF1 OPERATING ACTIVITIES
Profit before levy and taxation
Adjustments for non-cash and other items: Depreciatlon on fixed assets
Depreciation on right of use assets
Security deposit received Dividend Income Financial charges
13,161,215 5,759,186
113,608 | 466,185 |
8,98l,322 | 2,070,501 |
370,000 | |
(19,602,315) | (7,456,294) |
836,139 | 729,072 |
(9,301,246) (4,190,536)
Operating profit before working capital changes (Increase) / Decrease in current assets | 3,859,969 | 1,568,650 | |
Advance and deposits | - | (4,154,000) | |
Other receivables | - | 391,839 | |
(3,762,161) | |||
Increase / (Decrease) in current liabilities | |||
Accrued and other liabilities | (463,504) | 2,090,318 | |
Cash generated from operating activities | 3,396,465 | (103,193) | |
Financial charges paid | (19,260) | ||
Income tax paid | (2,943,147) | (1,120,177) | |
Net cash generated from operating activities | 434,058 | (1,223,369) | |
CASN FLOW FROP1 INVESTING ACTIVITIES | |||
Dividend received | 19,602,315 | 7,456,294 | |
Disposal of property and equipment | 2,718,394 | (156,000) | |
Net cash generated from investing activities | 22,320,709 | 7,300,294 | |
CASWFLOWFROMFINAWCINGAO1]VITIES | |||
Long term deposits | 580,000 | ||
Payment of lease rentals against right of use assets | (9,603,120) | (2,666,399) | |
Dividend paid | (2,488,951) | ||
Net cash used in financing activities | (9,603,120) | (4,575,350) | |
Net increase / (decrease) in cash and cash equivalents during | |||
the period | 13,151,647 | 1,501,575 | |
Cash and cash equivalent at the beginning of the period | 2,993,562 | 1,609,357 | |
Cash and cash equivalent at the end of the period | 16,1#5,209 | 3,110,932 | |