Last close · 16 Oct 2026
Rs 11.98 +0.34%
Quarterly · Q4 FY2021 – Q3 FY2026
First Equity Modaraba (FEM) quarterly balance sheet
At the end of Q3 FY2026 (Jan – Mar 2026) First Equity Modaraba had total assets of Rs 692.5 mn, up 5.7% on Q3 FY2025. Shareholders' equity was Rs 614.9 mn (Rs 11.73 per share), 88.8% of total assets.
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||||||||||
| Cash & short-term investments | 168.0 | 206.5 | 167.6 | 141.3 | 133.1 | 154.5 | 93.4 | 139.6 | ||||||||||||
| Investments | 545.2 | 589.0 | 569.2 | 545.3 | 530.5 | 543.2 | 497.2 | 198.4 | ||||||||||||
| Loans, leases & receivables | 78.7 | 82.2 | 89.4 | 82.0 | 80.1 | 92.4 | 87.8 | 339.9 | ||||||||||||
| Total assets | 692.5 | 734.9 | 699.0 | 665.2 | 655.3 | 688.0 | 619.6 | 2,227.3 | ||||||||||||
| Liabilities | ||||||||||||||||||||
| Borrowings | — | — | — | — | — | — | — | 527.3 | ||||||||||||
| Total liabilities | 77.6 | 70.1 | 54.6 | 52.4 | 52.5 | 71.1 | 57.4 | 1,226.9 | ||||||||||||
| Equity | ||||||||||||||||||||
| Equity attributable to shareholders | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 | ||||||||||||
| Total equity | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 | ||||||||||||
| Total liabilities & equity | 692.5 | 734.9 | 699.0 | 665.2 | 655.3 | 688.0 | 619.6 | 2,227.3 | ||||||||||||
| Key figures | ||||||||||||||||||||
| Shares outstanding mn | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | ||||||||||||
| Common equity | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 | ||||||||||||
| Book value per share (Rs) Rs | 11.73 | 12.68 | 12.29 | 11.69 | 11.49 | 11.77 | 10.72 | 19.08 | ||||||||||||
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||||||||||
| Cash & short-term investments | +26.2% | +33.6% | +79.3% | +1.2% | +53.3% | +68.3% | +33.3% | +81.7% | ||||||||||||
| Investments | +2.8% | +8.4% | +14.5% | +174.8% | +9.1% | +8.3% | +5.8% | -58.2% | ||||||||||||
| Loans, leases & receivables | -1.8% | -11.0% | +1.8% | -75.9% | -8.3% | +4.2% | +4.8% | +368.9% | ||||||||||||
| Total assets | +5.7% | +6.8% | +12.8% | -70.1% | +6.9% | +11.1% | +6.2% | +284.8% | ||||||||||||
| Liabilities | ||||||||||||||||||||
| Borrowings | — | — | — | — | — | — | — | — | ||||||||||||
| Total liabilities | +47.7% | -1.4% | -4.8% | -95.7% | +10.8% | +51.0% | +13.6% | +2,437.7% | ||||||||||||
| Equity | ||||||||||||||||||||
| Equity attributable to shareholders | +2.0% | +7.8% | +14.6% | -38.7% | +6.6% | +7.8% | +5.5% | +88.6% | ||||||||||||
| Total equity | +2.0% | +7.8% | +14.6% | -38.7% | +6.6% | +7.8% | +5.5% | +88.6% | ||||||||||||
| Total liabilities & equity | +5.7% | +6.8% | +12.8% | -70.1% | +6.9% | +11.1% | +6.2% | +284.8% | ||||||||||||
| Key figures | ||||||||||||||||||||
| Shares outstanding | — | — | — | — | — | — | — | — | ||||||||||||
| Common equity | +2.0% | +7.8% | +14.6% | -38.7% | +6.6% | +7.8% | +5.5% | +88.6% | ||||||||||||
| Book value per share (Rs) | +2.0% | +7.8% | +14.6% | -38.7% | +6.6% | +7.8% | +5.5% | +88.6% | ||||||||||||
Change against the same quarter a year earlier; shown when the earlier figure is positive.
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||||||||||
| Cash & short-term investments | 24.3% | 28.1% | 24.0% | 21.2% | 20.3% | 22.5% | 15.1% | 6.3% | ||||||||||||
| Investments | 78.7% | 80.1% | 81.4% | 82.0% | 81.0% | 79.0% | 80.3% | 8.9% | ||||||||||||
| Loans, leases & receivables | 11.4% | 11.2% | 12.8% | 12.3% | 12.2% | 13.4% | 14.2% | 15.3% | ||||||||||||
| Total assets | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||||||||
| Liabilities | ||||||||||||||||||||
| Borrowings | — | — | — | — | — | — | — | 23.7% | ||||||||||||
| Total liabilities | 11.2% | 9.5% | 7.8% | 7.9% | 8.0% | 10.3% | 9.3% | 55.1% | ||||||||||||
| Equity | ||||||||||||||||||||
| Equity attributable to shareholders | 88.8% | 90.5% | 92.2% | 92.1% | 92.0% | 89.7% | 90.7% | 44.9% | ||||||||||||
| Total equity | 88.8% | 90.5% | 92.2% | 92.1% | 92.0% | 89.7% | 90.7% | 44.9% | ||||||||||||
| Total liabilities & equity | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||||||||
| Key figures | ||||||||||||||||||||
| Common equity | 88.8% | 90.5% | 92.2% | 92.1% | 92.0% | 89.7% | 90.7% | 44.9% | ||||||||||||
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. Updated 16 Oct 2026.
All reported line items 116
| Rs mn | Q3 FY2026 Jan – Mar 2026 | Q2 FY2026 Oct – Dec 2025 | Q1 FY2026 Jul – Sep 2025 | Q4 FY2025 Apr – Jun 2025 | Q3 FY2025 Jan – Mar 2025 | Q2 FY2025 Oct – Dec 2024 | Q1 FY2025 Jul – Sep 2024 | Q4 FY2024 Apr – Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | 49.8 | 44.5 | 21.2 | 18.9 | 23.9 | 32.6 | 15.3 | 19.6 |
| Cash & Short Term Investments | 168.0 | 206.5 | 167.6 | 141.3 | 133.1 | 154.5 | 93.4 | 139.6 |
| Short-Term Investments - Total | 118.3 | 162.0 | 146.4 | 122.4 | 109.2 | 121.9 | 78.2 | 120.0 |
| Loans & Receivables - Net - Short-Term | 76.2 | 79.7 | 86.9 | 79.5 | 77.6 | 89.9 | 85.3 | 337.4 |
| Loans & Receivables - Total | 78.7 | 82.2 | 89.4 | 82.0 | 80.1 | 92.4 | 87.8 | 339.9 |
| Trade Accounts & Trade Notes Receivable - Net | — | — | — | — | — | — | — | 79.3 |
| Loans - Short-Term | 13.9 | 13.4 | 13.7 | 13.5 | 14.0 | 13.3 | 12.7 | 4.8 |
| Income Tax - Receivables - Short-Term | — | — | — | — | — | — | — | 48.3 |
| Receivables - Other - Total | 62.2 | 66.3 | 73.2 | 66.0 | 63.5 | 76.6 | 72.6 | 205.0 |
| Inventories - Total | — | — | — | — | — | — | — | 407.2 |
| Inventories - Other - Total | — | — | — | — | — | — | — | 407.2 |
| Prepaid Expenses - Short-Term | 15.5 | 15.8 | 15.9 | 15.6 | 17.2 | 16.1 | 15.3 | 118.0 |
| Investments - Total | 545.2 | 589.0 | 569.2 | 545.3 | 530.5 | 543.2 | 497.2 | 198.4 |
| Other Current Assets - Total | (0.0) | — | — | — | (0.0) | — | — | — |
| Property, Plant & Equipment - Net - Total | 1.6 | 1.7 | 1.5 | 1.6 | 1.8 | 2.0 | 2.2 | 1,117.6 |
| Other Assets - Total | 1.7 | 1.8 | 1.8 | 1.8 | 1.7 | 1.8 | 1.8 | 8.4 |
| Intangible Assets - Total - Net | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.2 |
| Total Current Assets | 259.7 | 302.0 | 270.4 | 236.4 | 227.9 | 260.5 | 194.1 | 1,002.2 |
| Intangible Assets - excluding Goodwill - Net - Total | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 18.2 |
| Investments - Long-Term | 427.0 | 427.0 | 422.8 | 422.9 | 421.3 | 421.3 | 419.1 | 78.4 |
| Investment Property - Net | 0.7 | 0.7 | 0.7 | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 |
| Investments - Available for Sale/Held to Maturity - Long-Term | 426.3 | 426.3 | 422.1 | 422.1 | 420.5 | 420.5 | 418.2 | 77.6 |
| Receivables & Loans - Long-Term | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| Loans - Long-Term | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 | 2.5 |
| Total Assets | 692.5 | 734.9 | 699.0 | 665.2 | 655.3 | 688.0 | 619.6 | 2,227.3 |
| Debt - Total | — | — | — | — | — | — | — | 527.3 |
| Short-Term Debt & Current Portion of Long-Term Debt | — | — | — | — | — | — | — | 520.0 |
| Current Portion of Long-Term Debt including Capitalized Leases | — | — | — | — | — | — | — | 309.5 |
| Short-Term Debt & Notes Payable | — | — | — | — | — | — | — | 210.5 |
| Debt - Long-Term - Total | — | — | — | — | — | — | — | 7.3 |
| Current Portion of Long-Term Debt excluding Capitalized Leases | — | — | — | — | — | — | — | 309.5 |
| Capitalized Lease Obligations - Long-Term | — | — | — | — | — | — | — | 7.3 |
| Long-Term Debt excluding Capitalized Leases | — | — | — | — | — | — | — | — |
| Other Non-Current Assets - Total | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 8.4 |
| Debt - Non-Convertible - Long-Term | — | — | — | — | — | — | — | — |
| Dividends Payable | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 |
| Deferred Tax & Investment Tax Credits - Long-Term | 7.0 | 7.0 | 7.6 | 7.6 | 7.2 | 7.2 | 7.2 | 19.9 |
| Deferred Tax - Liability - Long-Term | 7.0 | 7.0 | 7.6 | 7.6 | 7.2 | 7.2 | 7.2 | 19.9 |
| Payables & Accrued Expenses | 38.9 | 31.3 | 15.4 | 13.1 | 13.7 | 32.2 | 18.6 | 631.3 |
| Trade Account Payables - Total | 38.9 | 31.3 | 15.4 | 13.1 | 13.7 | 32.2 | 18.6 | 631.3 |
| Other Non-Current Assets | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 1.8 | 8.4 |
| Total Liabilities | 77.6 | 70.1 | 54.6 | 52.4 | 52.5 | 71.1 | 57.4 | 1,226.9 |
| Shareholders' Equity - Attributable to Parent Shareholders - Total | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 |
| Total Non-Current Assets | 432.8 | 432.9 | 428.6 | 428.8 | 427.3 | 427.6 | 425.5 | 1,225.1 |
| Common Equity Attributable to Parent Shareholders | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 |
| Common Equity - Contributed | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 |
| Common Stock - Issued & Paid | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 | 524.4 |
| Equity - Non-Contributed - Reserves & Retained Earnings | 90.5 | 140.5 | 120.0 | 88.4 | 78.3 | 92.6 | 37.8 | 475.9 |
| Retained Earnings - Total | 65.7 | 66.3 | 49.1 | 50.9 | 56.5 | 61.7 | 56.1 | 124.3 |
| Trade Accounts Payable & Accruals - Short-Term | 38.9 | 31.3 | 15.4 | 13.1 | 13.7 | 32.2 | 18.6 | 631.3 |
| Comprehensive Income - Accumulated - Total | 24.9 | 74.2 | 70.8 | 37.5 | 21.8 | 30.8 | (18.3) | 351.6 |
| Trade Accounts & Trade Notes Payable - Short-Term | 38.9 | 31.3 | 15.4 | 13.1 | 13.7 | 32.2 | 18.6 | 631.3 |
| Investments - Unrealized Gain/Loss | 20.8 | 70.1 | 66.8 | 33.5 | 18.9 | 28.0 | (21.2) | (68.1) |
| Other Reserves/Equity - Total | — | — | — | — | — | — | — | — |
| Income Taxes - Payable - Short-Term | — | — | — | — | — | — | — | — |
| Dividends/Distributions Payable | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 | 31.1 |
| Other Current Liabilities - Total | — | — | — | — | — | — | — | 17.1 |
| Common Equity - Total | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 |
| Deferred Income - Short-Term | — | — | — | — | — | — | — | — |
| Total Shareholders' Equity - including Minority Interest & Hybrid Debt | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 |
| Total Liabilities & Equity | 692.5 | 734.9 | 699.0 | 665.2 | 655.3 | 688.0 | 619.6 | 2,227.3 |
| Other Current Liabilities | — | — | — | — | — | — | — | 17.1 |
| Revaluation Reserves | — | — | — | — | — | — | — | 416.8 |
| Total Current Liabilities | 70.0 | 62.4 | 46.5 | 44.3 | 44.8 | 63.3 | 49.7 | 1,199.5 |
| Other Non-Current Liabilities - Total | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.2 |
| Deferred Revenue - Long-Term | — | — | — | — | — | — | — | — |
| Other Non-Current Liabilities | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.2 |
| Total Non-Current Liabilities | 7.6 | 7.6 | 8.1 | 8.1 | 7.7 | 7.7 | 7.7 | 27.4 |
| Comprehensive Income - Pension Liabilities | 4.0 | 4.0 | 4.0 | 4.0 | 2.9 | 2.9 | 2.9 | 2.9 |
| Common Shares - Issued - Total mn | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 |
| Common Shares - Outstanding - Total mn | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 |
| Common Shares - Treasury - Total mn | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Common Shares - Authorized - Issue Specific mn | 60.0 | 60.0 | 60.0 | 60.0 | 60.0 | 60.0 | 600.0 | 60.0 |
| Common Shares - Issued - Issue Specific mn | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 |
| Common Shares - Outstanding - Issue Specific mn | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 | 52.4 |
| Common Shares - Treasury - Issue Specific mn | 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× |
| Finance and Operating Lease Liabilities - Total - Supplemental | — | — | — | — | — | — | — | 7.3 |
| Debt including Finance and Operating Lease Liabilities - Supplemental | — | — | — | — | — | — | — | 527.3 |
| Net Debt | (168.0) | (206.5) | (167.6) | (141.3) | (133.1) | (154.5) | (93.4) | 387.7 |
| Asset Accruals | 640.2 | 688.0 | 675.3 | 643.8 | 628.9 | 652.9 | 601.8 | 2,205.2 |
| Cash & Cash Equivalents - Total | 49.8 | 44.5 | 21.2 | 18.9 | 23.9 | 32.6 | 15.3 | 19.6 |
| Cash & Short Term Investments - Total | 168.0 | 206.5 | 167.6 | 141.3 | 133.1 | 154.5 | 93.4 | 139.6 |
| Debt - including Preferred Equity & Minority Interest - Total | — | — | — | — | — | — | — | 527.3 |
| Investments - Permanent | 427.0 | 427.0 | 422.8 | 422.9 | 421.3 | 421.3 | 419.1 | 78.4 |
| Net Book Capital | 446.9 | 458.4 | 476.8 | 471.5 | 469.6 | 462.4 | 468.7 | 1,388.0 |
| Net Operating Assets | 446.9 | 458.4 | 476.8 | 471.5 | 469.6 | 462.4 | 468.7 | 1,388.0 |
| Provisions - Total | 7.0 | 7.0 | 7.6 | 7.6 | 7.2 | 7.2 | 7.2 | 19.9 |
| Shareholders Equity - Common | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 |
| Tangible Total Equity | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 982.2 |
| Tangible Book Value | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 982.2 |
| Total Book Capital | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,527.6 |
| Total Capital | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,527.6 |
| Total Long Term Capital | 622.5 | 672.5 | 652.5 | 620.9 | 610.5 | 624.7 | 569.9 | 1,027.8 |
| Unearned Revenue - Total | — | — | — | — | — | — | — | — |
| Book Value excluding Other Equity | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 1,000.3 |
| Income Taxes - Payable - Long-Term & Short-Term | — | — | — | — | — | — | — | — |
| Accruals - Short-Term | 140.0 | 195.1 | 202.8 | 173.3 | 159.2 | 164.6 | 129.1 | (216.9) |
| Cash & Short Term Investments - Net of Debt | 168.0 | 206.5 | 167.6 | 141.3 | 133.1 | 154.5 | 93.4 | (387.7) |
| Current Portion of Long-Term Debt including Capitalized Leases & Hybrid Financial Instruments | — | — | — | — | — | — | — | 309.5 |
| Total Fixed Assets - Net | 430.3 | 430.4 | 426.0 | 426.3 | 424.8 | 425.0 | 423.0 | 1,222.6 |
| Working Capital | 189.7 | 239.6 | 223.9 | 192.2 | 183.1 | 197.2 | 144.4 | (197.3) |
| Interest Bearing Liabilities - Total | — | — | — | — | — | — | — | 527.3 |
| Working Capital - Non-Cash | 21.7 | 33.1 | 56.4 | 50.8 | 50.0 | 42.6 | 51.0 | (336.9) |
| Working Capital excluding Other Current Assets & Liabilities | 189.7 | — | — | — | 183.1 | — | — | (180.2) |
| Net Debt Including Preferred Equity & Minority Interest | (168.0) | (206.5) | (167.6) | (141.3) | (133.1) | (154.5) | (93.4) | 387.7 |
| Other Short-Term & Long-Term Assets - Total | 1.7 | 1.8 | 1.8 | 1.8 | 1.7 | 1.8 | 1.8 | 8.4 |
| Other Short-Term & Long-Term Liabilities - Total | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 17.3 |
| Total Current Assets excluding Total Inventories | — | — | — | — | — | — | — | 595.0 |
| Tangible Book Value excluding Other Equity | 614.9 | 664.9 | 644.4 | 612.8 | 602.7 | 617.0 | 562.2 | 982.2 |
| Total Debt Excluding Islamic | — | — | — | — | — | — | — | 527.3 |
| Trade Accounts & Trade Notes Receivable - Net - Total | — | — | — | — | — | — | — | 79.3 |
| Current Liabilities excluding Current Debt - Total | — | — | — | — | — | — | — | 679.5 |
| Cash in Hand & with Banks - Total | 49.8 | 44.5 | 21.2 | 18.9 | 23.9 | 32.6 | 15.3 | 19.6 |
| Current Assets excluding Cash & Short Term Investments - Total | 91.7 | 95.5 | 102.9 | 95.1 | 94.8 | 106.0 | 100.6 | 862.6 |
| Cash, Short Term Investments & Accounts Receivable - Total | — | — | — | — | — | — | — | 218.9 |
Every line the company reported, in the original order and wording, without regrouping or signs changed.