Valuation · at the close on 16 Oct 2026

First Elite Capital Modaraba (FECM) valuation

FECM has no positive earnings to compare its share price with, so P/E is not meaningful. The shares are priced at 1.54× book value (sector median 1.08×).

P/E · today

—

FY2026

5-yr average— Sector median17.1×

P/B · today

1.54×

FY2026

5-yr average1.27× Sector median1.08×

Dividend yield · today

0.0%

FY2026

5-yr average0.0% Payers' median4.3%

Market value Rs 210.8 mn at Rs 18.59. Sector medians use the latest close of 20 Modarabas companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

Valuation history

At each fiscal year-end price.

5 10

FECM valuation history (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
Market capitalisation	194.4	414.0	73.1	35.0	30.6	38.6	19.4	18.1	36.9	47.6
Share price (period end) Rs	17.14	36.51	6.45	3.09	2.70	3.40	1.71	1.60	3.25	4.20
P/E (diluted)	—	88.18×	3.09×	—	—	9.05×	—	—	7.81×	—
Price to book	1.42×	3.03×	0.60×	0.38×	0.31×	0.34×	0.18×	0.16×	0.29×	0.38×
Dividend yield (gross)	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
PEG ratio	—	(1.10×)	0.01×	—	—	0.05×	—	—	0.03×	—
P/E (diluted, normalised)	—	—	—	—	—	9.05×	—	—	7.81×	—
Price to book — 5-year average	1.27×	1.05×	0.37×	0.27×	0.26×	0.27×	—	—	—	—
Dividend yield — 5-year average	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—

FECM valuation: frequently asked questions

What is FECM's book value per share? +

First Elite Capital Modaraba's book value per share was Rs 12.07 at the end of FY2026. The shares trade at 1.54× book value.

Information only, not investment advice.