First Capital Equities Limited (FCEL) balance sheet

At the end of FY2026 (Jul 2025 – Jun 2026) First Capital Equities Limited had total assets of Rs 1.3 bn, up 1.4% on FY2025. Shareholders' equity was Rs 477.1 mn (Rs 3.38 per share), 38.0% of total assets.

FCEL balance sheet (annual) (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 * Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016
Assets
Cash & short-term investments	236.6	85.1	44.4	33.1	44.8	96.9	31.7	26.0	153.0	165.8	136.6
Investments	1,063.7	954.7	892.4	875.4	892.4	969.4	874.8	866.4	1,349.5	1,749.1	131.2
Loans, leases & receivables	84.0	174.2	174.2	174.2	175.0	175.6	175.6	252.8	275.7	1,513.7	1,990.6
Total assets	1,254.7	1,237.2	1,361.9	1,351.0	1,369.0	1,447.1	1,354.0	1,473.8	1,757.6	3,456.7	3,882.5
Liabilities
Borrowings	706.1	642.2	825.8	825.8	825.8	825.8	825.8	976.7	1,065.0	2,336.7	2,795.6
Total liabilities	777.6	713.8	1,009.3	1,016.2	1,016.2	1,014.6	1,011.7	1,128.0	1,345.5	3,078.3	3,807.0
Equity
Equity attributable to shareholders	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Total equity	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Total liabilities & equity	1,254.7	1,237.2	1,361.9	1,351.0	1,369.0	1,447.1	1,354.0	1,473.8	1,757.6	3,456.7	3,882.5
Key figures
Shares outstanding mn	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3
Common equity	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Book value per share (Rs) Rs	3.38	3.70	2.49	2.37	2.50	3.06	2.42	2.45	2.92	2.68	0.53

FCEL balance sheet — year-on-year change (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 * Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016
Assets
Cash & short-term investments	+178.2%	+91.7%	+34.0%	-26.0%	-53.8%	+205.7%	+21.9%	-83.0%	-7.7%	+21.4%	—
Investments	+11.4%	+7.0%	+1.9%	-1.9%	-7.9%	+10.8%	+1.0%	-35.8%	-22.8%	+1,232.9%	—
Loans, leases & receivables	-51.8%	0.0%	0.0%	-0.5%	-0.3%	-0.0%	-30.5%	-8.3%	-81.8%	-24.0%	—
Total assets	+1.4%	-9.2%	+0.8%	-1.3%	-5.4%	+6.9%	-8.1%	-16.1%	-49.2%	-11.0%	—
Liabilities
Borrowings	+10.0%	-22.2%	0.0%	0.0%	0.0%	0.0%	-15.5%	-8.3%	-54.4%	-16.4%	—
Total liabilities	+8.9%	-29.3%	-0.7%	+0.0%	+0.2%	+0.3%	-10.3%	-16.2%	-56.3%	-19.1%	—
Equity
Equity attributable to shareholders	-8.9%	+48.5%	+5.3%	-5.1%	-18.4%	+26.3%	-1.0%	-16.1%	+8.9%	+400.8%	—
Total equity	-8.9%	+48.5%	+5.3%	-5.1%	-18.4%	+26.3%	-1.0%	-16.1%	+8.9%	+400.8%	—
Total liabilities & equity	+1.4%	-9.2%	+0.8%	-1.3%	-5.4%	+6.9%	-8.1%	-16.1%	-49.2%	-11.0%	—
Key figures
Shares outstanding	—	—	—	—	—	—	—	—	—	—	—
Common equity	-8.9%	+48.5%	+5.3%	-5.1%	-18.4%	+26.3%	-1.0%	-16.1%	+8.9%	+400.8%	—
Book value per share (Rs)	-8.9%	+48.5%	+5.3%	-5.1%	-18.4%	+26.3%	-1.0%	-16.1%	+8.9%	+400.8%	—

Change against the previous fiscal year; shown when the earlier figure is positive.

FCEL balance sheet — common size (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 * Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016
Assets
Cash & short-term investments	18.9%	6.9%	3.3%	2.5%	3.3%	6.7%	2.3%	1.8%	8.7%	4.8%	3.5%
Investments	84.8%	77.2%	65.5%	64.8%	65.2%	67.0%	64.6%	58.8%	76.8%	50.6%	3.4%
Loans, leases & receivables	6.7%	14.1%	12.8%	12.9%	12.8%	12.1%	13.0%	17.2%	15.7%	43.8%	51.3%
Total assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Borrowings	56.3%	51.9%	60.6%	61.1%	60.3%	57.1%	61.0%	66.3%	60.6%	67.6%	72.0%
Total liabilities	62.0%	57.7%	74.1%	75.2%	74.2%	70.1%	74.7%	76.5%	76.6%	89.1%	98.1%
Equity
Equity attributable to shareholders	38.0%	42.3%	25.9%	24.8%	25.8%	29.9%	25.3%	23.5%	23.4%	10.9%	1.9%
Total equity	38.0%	42.3%	25.9%	24.8%	25.8%	29.9%	25.3%	23.5%	23.4%	10.9%	1.9%
Total liabilities & equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Key figures
Common equity	38.0%	42.3%	25.9%	24.8%	25.8%	29.9%	25.3%	23.5%	23.4%	10.9%	1.9%

Each line as a percentage of total assets.

Figures in Pakistani rupees as reported by the company; costs and cash outflows in brackets; "—" = not reported. * Figures in this period do not fully reconcile in the source data (hover the * for details). Updated 16 Oct 2026.

All reported line items 90

FCEL balance sheet — all reported line items (Rs mn)
Rs mn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016
Cash & Cash Equivalents	0.3	1.5	0.4	0.2	0.3	0.3	0.3	3.4	106.6	79.0	52.1
Loans & Receivables - Total	84.0	174.2	174.2	174.2	175.0	175.6	175.6	252.8	275.7	1,513.7	1,990.6
Receivables - Other	—	—	—	—	—	—	—	0.0	0.1	0.1	0.3
Investment Securities - Available for Sale, Held to Maturity & Held for Trading - Total	236.3	130.0	67.6	50.6	67.7	144.7	50.1	41.7	80.0	146.7	118.7
Trade Accounts & Trade Notes Receivable - Total	84.0	174.2	174.2	174.2	175.0	175.6	175.6	252.7	275.6	1,513.6	1,990.3
Inventories - Total	102.3	102.3	290.1	290.1	290.1	290.1	—	—	—	—	—
Investment Property	827.4	824.8	824.8	824.8	824.7	824.7	824.7	824.7	1,269.4	1,602.4	12.5
Investments - Total	1,063.7	954.7	892.4	875.4	892.4	969.4	874.8	866.4	1,349.5	1,749.1	131.2
Investment Securities - Held for Trading	236.3	83.6	43.9	32.9	44.5	96.6	31.4	22.6	46.4	86.8	84.4
Investment Securities Available for Sale & Held to Maturity	—	46.4	23.7	17.7	23.1	48.0	18.7	19.2	33.7	59.9	34.3
Property, Plant & Equipment - Net - Total	0.1	0.2	0.2	0.3	0.5	0.9	1.3	2.0	3.1	44.0	49.1
Other Assets - Total	4.4	4.4	4.6	10.9	10.9	10.9	301.9	349.1	20.2	58.5	51.0
Prepaid Expenses - Total	4.4	4.4	4.6	10.9	10.9	10.9	301.9	349.1	18.7	49.0	45.5
Other Assets	—	—	—	—	—	—	—	—	1.5	9.5	5.5
Intangible Assets - Total - Net	—	—	0.0	—	—	—	—	—	2.5	12.5	—
Total Current Assets	427.3	365.9	513.2	508.2	520.7	573.4	509.2	627.9	447.4	1,728.5	3,781.1
Intangible Assets - excluding Goodwill - Net - Total	—	—	0.0	—	—	—	—	—	2.5	12.5	—
Total Assets	1,254.7	1,237.2	1,361.9	1,351.0	1,369.0	1,447.1	1,354.0	1,473.8	1,757.6	3,456.7	3,882.5
Debt - Total	706.1	642.2	825.8	825.8	825.8	825.8	825.8	976.7	1,065.0	2,336.7	2,795.6
Short-Term Debt & Current Portion of Long-Term Debt	706.1	7.5	825.8	825.8	825.8	825.8	825.8	823.7	5.5	2.2	880.7
Current Portion of Long-Term Debt including Capitalized Leases	706.1	7.5	825.8	825.8	—	825.8	825.8	823.7	5.5	2.2	246.5
Short-Term Debt & Notes Payable	—	—	—	—	825.8	—	—	—	—	—	634.2
Debt - Long-Term - Total	0.0	634.7	0.0	—	—	0.0	0.0	153.0	1,059.5	2,334.5	1,914.9
Short-Term Banking Borrowings excluding Collateralized Financing	—	—	—	—	825.8	—	—	—	—	—	634.2
Current Portion of Long-Term Debt excluding Capitalized Leases	706.1	7.5	825.8	825.8	—	825.8	825.8	823.7	5.5	2.2	246.5
Long-Term Debt excluding Capitalized Leases	0.0	634.7	0.0	—	—	0.0	0.0	153.0	1,059.5	2,334.5	1,914.9
Debt - Non-Convertible - Long-Term	0.0	634.7	0.0	—	—	0.0	0.0	153.0	1,059.5	2,334.5	1,914.9
Payables & Accrued Expenses	71.5	71.6	183.6	190.4	190.4	188.8	182.2	147.5	242.0	674.7	972.7
Trade Account Payables - Total	71.5	71.6	183.6	190.4	190.4	188.8	182.2	65.2	97.2	106.6	166.0
Other Liabilities - Total	—	—	—	—	—	0.0	3.7	3.8	38.5	67.0	38.7
Interest Payable	—	—	—	—	—	—	0.0	82.3	144.8	568.1	806.7
Provisions	—	—	—	—	—	—	0.0	0.3	—	30.8	6.5
Deferred Revenue/Income	—	—	—	—	—	0.0	3.7	3.5	38.5	36.2	32.3
Provisions - Other than Pension & Post Retirement	—	—	—	—	—	—	0.0	0.3	—	30.8	6.5
Total Liabilities	777.6	713.8	1,009.3	1,016.2	1,016.2	1,014.6	1,011.7	1,128.0	1,345.5	3,078.3	3,807.0
Shareholders' Equity - Attributable to Parent Shareholders - Total	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Common Equity Attributable to Parent Shareholders	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Common Equity - Contributed	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,429.5	1,405.1	1,365.1
Common Stock - Issued & Paid	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4	1,413.4
Equity - Non-Contributed - Reserves & Retained Earnings	(936.2)	(889.9)	(1,060.8)	(1,078.6)	(1,060.5)	(980.9)	(1,071.0)	(1,067.6)	(1,017.4)	(1,026.8)	(1,289.5)
Retained Earnings - Total	(936.2)	(889.9)	(1,060.8)	(1,078.6)	(1,060.5)	(980.9)	(1,071.0)	(1,067.6)	(1,017.4)	(1,026.8)	(1,289.5)
Common Equity - Total	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Common Stock - Additional Paid in Capital including Option Reserve	—	—	—	—	—	—	—	0.0	16.1	(8.2)	(48.3)
Total Shareholders' Equity - including Minority Interest & Hybrid Debt	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Total Liabilities & Equity	1,254.7	1,237.2	1,361.9	1,351.0	1,369.0	1,447.1	1,354.0	1,473.8	1,757.6	3,456.7	3,882.5
Total Current Liabilities	777.6	79.1	1,009.3	1,016.2	1,016.2	1,014.6	1,008.0	889.2	102.6	139.6	1,488.1
Common Shares - Issued - Total mn	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3
Common Shares - Outstanding - Total mn	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3
Common Shares - Treasury - Total mn	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Common Shares - Authorized - Issue Specific mn	152.0	152.0	—	—	—	—	—	—	—	—	—
Common Shares - Issued - Issue Specific mn	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3
Common Shares - Outstanding - Issue Specific mn	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3	141.3
Common Shares - Treasury - Issue Specific mn	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Asset Allocation Factor - Issue Specific	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×	1.00×
Debt including Finance and Operating Lease Liabilities - Supplemental	706.1	642.2	825.8	825.8	825.8	825.8	825.8	976.7	1,065.0	2,336.7	2,795.6
Net Debt	469.5	557.1	781.4	792.7	781.0	728.8	794.1	950.7	912.0	2,170.9	2,659.0
Asset Accruals	426.9	364.4	512.8	507.9	520.5	573.1	508.9	624.5	340.7	1,649.5	3,729.0
Cash & Cash Equivalents - Total	0.3	1.5	0.4	0.2	0.3	0.3	0.3	3.4	106.6	79.0	52.1
Cash & Securities	1,063.7	954.7	892.4	875.4	892.4	969.4	874.8	866.4	1,349.5	1,749.1	131.2
Cash & Short Term Investments - Total	236.6	85.1	44.4	33.1	44.8	96.9	31.7	26.0	153.0	165.8	136.6
Debt - including Preferred Equity & Minority Interest - Total	706.1	642.2	825.8	825.8	825.8	825.8	825.8	976.7	1,065.0	2,336.7	2,795.6
Earning Assets	1,063.7	954.7	892.4	875.4	892.4	969.4	874.8	866.4	1,349.5	1,749.1	131.2
Equity Securities & Real Estate	827.4	824.8	824.8	824.8	824.7	824.7	824.7	824.7	1,269.4	1,602.4	12.5
Invested Assets - Total	1,063.7	954.7	892.4	875.4	892.4	969.4	874.8	866.4	1,349.5	1,749.1	131.2
Investment Securities	236.3	130.0	67.6	50.6	67.7	144.7	50.1	41.7	80.0	146.7	118.7
Investments - Permanent	827.4	871.2	848.5	842.5	847.8	872.7	843.4	843.9	1,303.1	1,662.3	46.8
Net Book Capital	946.6	1,080.6	1,134.0	1,127.4	1,133.9	1,161.3	1,136.4	1,296.5	1,324.1	2,549.3	2,734.6
Net Operating Assets	946.6	1,080.6	1,134.0	1,127.4	1,133.9	1,161.3	1,136.4	1,296.5	1,324.1	2,549.3	2,734.6
Provisions - Total	—	—	—	—	—	—	0.0	0.3	—	30.8	6.5
Shareholders Equity - Common	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Tangible Total Equity	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	409.6	365.9	75.5
Tangible Book Value	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	409.6	365.9	75.5
Total Book Capital	1,183.3	1,165.6	1,178.3	1,160.5	1,178.6	1,258.2	1,168.1	1,322.5	1,477.1	2,715.1	2,871.1
Total Capital	1,183.3	1,165.6	1,178.3	1,160.5	1,178.6	1,258.2	1,168.1	1,322.5	1,477.1	2,715.1	2,871.1
Total Long Term Capital	477.1	1,158.1	352.6	334.8	352.8	432.4	346.0	584.6	1,654.9	3,317.1	2,394.4
Trading Account	236.3	83.6	43.9	32.9	44.5	96.6	31.4	22.6	46.4	86.8	84.4
Unearned Revenue - Total	—	—	—	—	—	0.0	3.7	3.5	38.5	36.2	32.3
Book Value excluding Other Equity	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	412.1	378.4	75.5
Assets Held for Sale/Discontinued Operations - Long-Term & Short-Term	—	—	—	0.0	0.0	—	—	—	—	—	1,608.5
Cash & Short Term Investments - Net of Debt	(469.5)	(557.1)	(781.4)	(792.7)	(781.0)	(728.8)	(794.1)	(950.7)	(912.0)	(2,170.9)	(2,659.0)
Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments	706.1	7.5	825.8	825.8	—	825.8	825.8	823.7	5.5	2.2	246.5
Interest Bearing Liabilities - Total	706.1	642.2	825.8	825.8	825.8	825.8	825.8	976.7	1,065.0	2,336.7	2,795.6
Net Debt Including Preferred Equity & Minority Interest	469.5	557.1	781.4	792.7	781.0	728.8	794.1	950.7	912.0	2,170.9	2,659.0
Tangible Book Value excluding Other Equity	477.1	523.5	352.6	334.8	352.8	432.4	342.3	345.8	409.6	365.9	75.5
Total Debt Excluding Islamic	706.1	642.2	825.8	825.8	825.8	825.8	825.8	976.7	1,065.0	2,336.7	2,795.6
Trade Accounts & Trade Notes Receivable - Net - Total	84.0	174.2	174.2	174.2	175.0	175.6	175.6	252.7	275.6	1,513.6	1,990.3
Total Available Funds	477.1	1,158.1	352.6	334.8	352.8	432.4	346.0	584.6	1,654.9	3,317.1	2,394.4
Current Liabilities excluding Current Debt - Total	71.5	71.6	183.6	190.4	190.4	188.8	182.2	65.5	97.2	137.3	607.4
Cash in Hand & with Banks - Total	0.3	1.5	0.4	0.2	0.3	0.3	0.3	3.4	106.6	79.0	52.1
Current Assets excluding Cash & Short Term Investments - Total	190.6	280.8	468.8	475.1	475.9	476.5	477.5	601.9	294.3	1,562.7	3,644.6

Every line the company reported, in the original order and wording, without regrouping or signs changed.