Skip to content
Smart Money
Create free account Log in

Modarabas

FPJM First Punjab Modaraba

Latest results: FY2025 · Dec 2025 Q2 FY2026 · Apr – Jun 2026

Watch FPJM · free results alerts

Last close · 16 Oct 2026

Rs 20.05 -2.58%

Quarterly · Q3 FY2021 – Q2 FY2026

First Punjab Modaraba (FPJM) quarterly balance sheet

At the end of Q2 FY2026 (Apr – Jun 2026) First Punjab Modaraba had total assets of Rs 1.7 bn, down 25.4% on Q2 FY2025. Shareholders' equity was Rs 1.5 bn (Rs 44.65 per share), 88.6% of total assets.

FPJM balance sheet (quarterly) (Rs mn)
Rs mn Q2 FY2026 Apr – Jun 2026 Q1 FY2026 Jan – Mar 2026 Q4 FY2025 Oct – Dec 2025 Q3 FY2025 Jul – Sep 2025 Q2 FY2025 Apr – Jun 2025 Q1 FY2025 Jan – Mar 2025 Q4 FY2024 Oct – Dec 2024 Q3 FY2024 Jul – Sep 2024
Assets
Cash & short-term investments 624.6 690.4 617.4 772.7 1,184.0 713.1 699.2 825.7
Investments 1,301.4 1,306.0 1,257.1 1,090.2 1,164.2 1,244.3 1,373.5 1,419.7
Loans, leases & receivables 86.4 88.8 88.7 74.2 92.1 105.8 109.0 96.1
Total assets 1,715.3 1,781.5 1,739.9 1,803.7 2,299.2 1,860.9 1,975.6 2,108.3
Liabilities
Borrowings — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Total liabilities 196.3 245.7 204.5 222.2 195.2 1,715.8 1,767.6 1,710.0
Equity
Equity attributable to shareholders 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Total equity 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Total liabilities & equity 1,715.3 1,781.5 1,739.9 1,803.7 2,299.2 1,860.9 1,975.6 2,108.3
Key figures
Shares outstanding mn 34.0 34.0 34.0 34.0 34.0 34.0 34.0 34.0
Common equity 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Book value per share (Rs) Rs 44.65 45.15 45.13 46.49 61.85 4.26 6.11 11.71
FPJM balance sheet — year-on-year change (Rs mn)
Rs mn Q2 FY2026 Apr – Jun 2026 Q1 FY2026 Jan – Mar 2026 Q4 FY2025 Oct – Dec 2025 Q3 FY2025 Jul – Sep 2025 Q2 FY2025 Apr – Jun 2025 Q1 FY2025 Jan – Mar 2025 Q4 FY2024 Oct – Dec 2024 Q3 FY2024 Jul – Sep 2024
Assets
Cash & short-term investments -47.2% -3.2% -11.7% -6.4% +21.9% +2.0% -37.9% -18.8%
Investments +11.8% +5.0% -8.5% -23.2% -22.8% -9.4% +0.6% -6.6%
Loans, leases & receivables -6.2% -16.1% -18.7% -22.9% +26.5% -2.9% -10.2% -19.8%
Total assets -25.4% -4.3% -11.9% -14.4% +7.1% -5.8% -9.8% -2.4%
Liabilities
Borrowings — — -100.0% -100.0% -100.0% 0.0% 0.0% -25.2%
Total liabilities +0.5% -85.7% -88.4% -87.0% -88.9% -2.9% -2.4% -22.3%
Equity
Equity attributable to shareholders -27.8% +958.9% +638.2% +297.1% +435.7% -30.3% -45.0% —
Total equity -27.8% +958.9% +638.2% +297.1% +435.7% -30.3% -45.0% —
Total liabilities & equity -25.4% -4.3% -11.9% -14.4% +7.1% -5.8% -9.8% -2.4%
Key figures
Shares outstanding — — — — — — — —
Common equity -27.8% +958.9% +638.2% +297.1% +435.7% -30.3% -45.0% —
Book value per share (Rs) -27.8% +958.9% +638.2% +297.1% +435.7% -30.3% -45.0% —

Change against the same quarter a year earlier; shown when the earlier figure is positive.

FPJM balance sheet — common size (Rs mn)
Rs mn Q2 FY2026 Apr – Jun 2026 Q1 FY2026 Jan – Mar 2026 Q4 FY2025 Oct – Dec 2025 Q3 FY2025 Jul – Sep 2025 Q2 FY2025 Apr – Jun 2025 Q1 FY2025 Jan – Mar 2025 Q4 FY2024 Oct – Dec 2024 Q3 FY2024 Jul – Sep 2024
Assets
Cash & short-term investments 36.4% 38.8% 35.5% 42.8% 51.5% 38.3% 35.4% 39.2%
Investments 75.9% 73.3% 72.3% 60.4% 50.6% 66.9% 69.5% 67.3%
Loans, leases & receivables 5.0% 5.0% 5.1% 4.1% 4.0% 5.7% 5.5% 4.6%
Total assets 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Liabilities
Borrowings — — 0.0% 0.0% 0.0% 79.8% 75.2% 70.4%
Total liabilities 11.4% 13.8% 11.8% 12.3% 8.5% 92.2% 89.5% 81.1%
Equity
Equity attributable to shareholders 88.6% 86.2% 88.2% 87.7% 91.5% 7.8% 10.5% 18.9%
Total equity 88.6% 86.2% 88.2% 87.7% 91.5% 7.8% 10.5% 18.9%
Total liabilities & equity 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Key figures
Common equity 88.6% 86.2% 88.2% 87.7% 91.5% 7.8% 10.5% 18.9%

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 109
FPJM balance sheet — all reported line items (Rs mn)
Rs mn Q2 FY2026 Apr – Jun 2026 Q1 FY2026 Jan – Mar 2026 Q4 FY2025 Oct – Dec 2025 Q3 FY2025 Jul – Sep 2025 Q2 FY2025 Apr – Jun 2025 Q1 FY2025 Jan – Mar 2025 Q4 FY2024 Oct – Dec 2024 Q3 FY2024 Jul – Sep 2024
Cash & Cash Equivalents 55.4 103.1 81.5 240.3 613.1 71.2 23.1 44.7
Cash & Short Term Investments 624.6 690.4 617.4 772.7 1,184.0 713.1 699.2 825.7
Short-Term Investments - Total 569.3 587.2 535.9 532.3 571.0 641.9 676.1 781.0
Loans & Receivables - Net - Short-Term 86.4 88.8 88.7 74.2 92.1 105.8 109.0 96.1
Loans & Receivables - Total 86.4 88.8 88.7 74.2 92.1 105.8 109.0 96.1
Trade Accounts & Trade Notes Receivable - Net — — — — — — — —
Income Tax - Receivables - Short-Term 36.5 35.9 34.5 34.7 32.5 33.1 32.0 27.0
Receivables - Other - Total 49.9 52.9 54.2 39.5 59.6 72.8 77.0 69.1
Prepaid Expenses - Short-Term 37.7 35.1 59.7 135.9 145.1 157.6 159.8 180.5
Investments - Total 1,301.4 1,306.0 1,257.1 1,090.2 1,164.2 1,244.3 1,373.5 1,419.7
Other Current Assets - Total — — 0.0 0.0 16.1 15.9 25.3 50.2
Property, Plant & Equipment - Net - Total 138.8 152.8 157.2 167.5 173.0 184.6 188.8 200.7
Other Current Assets — — 0.0 0.0 16.1 15.9 25.3 50.2
Other Assets - Total 95.7 95.7 95.7 95.7 111.7 97.2 121.0 166.0
Intangible Assets - Total - Net — — 0.0 0.0 0.1 0.2 0.4 0.6
Total Current Assets 748.7 814.3 765.8 982.7 1,437.3 992.4 993.4 1,152.6
Intangible Assets - excluding Goodwill - Net - Total — — 0.0 0.0 0.1 0.2 0.4 0.6
Investments - Long-Term 732.1 718.7 721.2 557.9 593.2 602.4 697.4 638.7
Investments - Available for Sale/Held to Maturity - Long-Term 732.1 718.7 721.2 557.9 593.2 602.4 697.4 638.7
Property, Plant & Equipment - excluding Assets Leased Out - Net - Total 138.8 152.8 157.2 167.5 173.0 184.6 188.8 200.7
Land & Buildings - Net — — — — — — — —
Land/Improvements - Net — — — — — — — —
Property, Plant & Equipment - Other - Net 138.8 152.8 157.2 167.5 173.0 184.6 188.8 200.7
Total Assets 1,715.3 1,781.5 1,739.9 1,803.7 2,299.2 1,860.9 1,975.6 2,108.3
Debt - Total — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Short-Term Debt & Current Portion of Long-Term Debt — — — — — — — —
Short-Term Debt & Notes Payable — — — — — — — —
Debt - Long-Term - Total — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Long-Term Debt excluding Capitalized Leases — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Other Non-Current Assets - Total 95.7 95.7 95.7 95.7 95.7 81.2 95.7 115.8
Debt - Non-Convertible - Long-Term — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Dividends Payable 17.1 17.1 17.1 17.1 17.1 17.1 17.1 17.1
Deferred Tax - Asset - Long-Term 94.2 94.2 94.2 94.2 94.2 79.8 94.2 114.4
Payables & Accrued Expenses 87.5 88.8 102.4 78.3 94.2 85.0 89.0 76.5
Trade Account Payables - Total 87.5 88.8 102.4 78.3 94.2 85.0 89.0 76.5
Other Non-Current Assets 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4
Total Liabilities 196.3 245.7 204.5 222.2 195.2 1,715.8 1,767.6 1,710.0
Shareholders' Equity - Attributable to Parent Shareholders - Total 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Total Non-Current Assets 966.6 967.2 974.1 821.0 861.9 868.4 982.2 955.8
Common Equity Attributable to Parent Shareholders 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Common Equity - Contributed 340.2 340.2 340.2 340.2 340.2 340.2 340.2 340.2
Common Stock - Issued & Paid 340.2 340.2 340.2 340.2 340.2 340.2 340.2 340.2
Equity - Non-Contributed - Reserves & Retained Earnings 1,178.8 1,195.6 1,195.2 1,241.3 1,763.8 (195.2) (132.2) 58.1
Retained Earnings - Total (821.2) (804.4) (804.8) (758.7) (736.2) (695.2) (632.2) (441.9)
Trade Accounts Payable & Accruals - Short-Term 87.5 88.8 102.4 78.3 94.2 85.0 89.0 76.5
Comprehensive Income - Accumulated - Total — — — — — — — —
Trade Accounts & Trade Notes Payable - Short-Term 87.5 88.8 102.4 78.3 94.2 85.0 89.0 76.5
Other Reserves/Equity - Total 2,000.0 2,000.0 2,000.0 2,000.0 2,500.0 500.0 500.0 500.0
Income Taxes - Payable - Short-Term — 4.4 3.7 12.5 11.7 9.2 9.7 3.2
Dividends/Distributions Payable 17.1 17.1 17.1 17.1 17.1 17.1 17.1 17.1
Other Current Liabilities - Total 70.0 109.0 54.5 86.1 43.5 100.7 148.9 109.1
Common Equity - Total 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Deferred Income - Short-Term — — — — — — — —
Total Shareholders' Equity - including Minority Interest & Hybrid Debt 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Total Liabilities & Equity 1,715.3 1,781.5 1,739.9 1,803.7 2,299.2 1,860.9 1,975.6 2,108.3
Provisions - Short-Term 5.2 — — — — — — —
Other Current Liabilities 64.8 109.0 54.5 86.1 43.5 100.7 148.9 109.1
Revaluation Reserves — — — — — — — —
Total Current Liabilities 174.6 219.3 177.7 194.0 166.5 212.1 264.8 205.9
Other Non-Current Liabilities - Total 21.7 26.4 26.8 28.1 28.7 18.7 17.8 19.1
Provisions - Long-Term 7.1 7.0 7.5 8.3 8.3 8.1 7.6 6.2
Post Employment Benefits - Pension & Other - Long-Term 7.1 7.0 7.5 8.3 8.3 8.1 7.6 6.2
Deferred Revenue - Long-Term 3.3 2.2 1.3 1.9 2.4 3.3 1.6 2.2
Other Non-Current Liabilities 11.3 17.2 18.0 18.0 18.0 7.3 8.5 10.7
Total Non-Current Liabilities 21.7 26.4 26.8 28.1 28.7 1,503.7 1,502.8 1,504.1
Common Shares - Issued - Total mn 34.0 34.0 34.0 34.0 34.0 34.0 34.0 34.0
Common Shares - Outstanding - Total mn 34.0 34.0 34.0 34.0 34.0 34.0 34.0 34.0
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 50.0 50.0 50.0 50.0 50.0 50.0 50.0 50.0
Common Shares - Issued - Issue Specific mn 34.0 34.0 34.0 34.0 34.0 34.0 34.0 34.0
Common Shares - Outstanding - Issue Specific mn 34.0 34.0 34.0 34.0 34.0 34.0 34.0 34.0
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×
Debt including Finance and Operating Lease Liabilities - Supplemental — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Net Debt (624.6) (690.4) (617.4) (772.7) (1,184.0) 771.9 785.8 659.3
Asset Accruals 1,659.9 1,678.4 1,658.4 1,563.4 1,686.2 1,789.7 1,952.5 2,063.6
Cash & Cash Equivalents - Total 55.4 103.1 81.5 240.3 613.1 71.2 23.1 44.7
Cash & Short Term Investments - Total 624.6 690.4 617.4 772.7 1,184.0 713.1 699.2 825.7
Debt - including Preferred Equity & Minority Interest - Total — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Investments - Permanent 732.1 718.7 721.2 557.9 593.2 602.4 697.4 638.7
Net Book Capital 894.3 845.5 918.0 808.9 920.0 916.9 993.8 1,057.6
Net Operating Assets 894.3 845.5 918.0 808.9 920.0 916.9 993.8 1,057.6
Provisions - Total 12.3 7.0 7.5 8.3 8.3 8.1 7.6 6.2
Shareholders Equity - Common 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 145.0 208.0 398.3
Tangible Total Equity 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 144.8 207.6 397.8
Tangible Book Value 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 144.8 207.6 397.8
Total Book Capital 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 1,630.0 1,693.0 1,883.3
Total Capital 1,519.0 1,535.8 1,535.4 1,581.5 2,104.0 1,630.0 1,693.0 1,883.3
Total Long Term Capital 1,540.7 1,562.2 1,562.2 1,609.7 2,132.7 1,648.8 1,710.8 1,902.4
Unearned Revenue - Total 3.3 2.2 1.3 1.9 2.4 3.3 1.6 2.2
Book Value excluding Other Equity (481.0) (464.2) (464.6) (418.5) (396.0) (355.0) (292.0) (101.7)
Income Taxes - Payable - Long-Term & Short-Term — 4.4 3.7 12.5 11.7 9.2 9.7 3.2
Accruals - Short-Term 518.7 491.9 506.6 548.4 657.7 709.2 705.5 901.9
Cash & Short Term Investments - Net of Debt 624.6 690.4 617.4 772.7 1,184.0 (771.9) (785.8) (659.3)
Total Fixed Assets - Net 966.6 967.2 974.1 821.0 861.9 868.4 982.2 955.8
Working Capital 574.1 595.0 588.1 788.7 1,270.8 780.3 728.5 946.7
Interest Bearing Liabilities - Total — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Working Capital - Non-Cash (50.6) (95.3) (29.3) 16.0 86.7 67.2 29.3 120.9
Working Capital excluding Other Current Assets & Liabilities 644.1 704.0 642.6 874.8 1,298.2 865.1 852.2 1,005.6
Net Debt Including Preferred Equity & Minority Interest (624.6) (690.4) (617.4) (772.7) (1,184.0) 771.9 785.8 659.3
Other Short-Term & Long-Term Assets - Total 95.7 95.7 95.7 95.7 111.7 97.2 121.0 166.0
Other Short-Term & Long-Term Liabilities - Total 81.3 126.2 72.5 104.1 61.6 108.1 157.5 119.8
Tangible Book Value excluding Other Equity (481.0) (464.2) (464.6) (418.5) (396.0) (355.2) (292.4) (102.2)
Total Debt Excluding Islamic — — 0.0 0.0 0.0 1,485.0 1,485.0 1,485.0
Trade Accounts & Trade Notes Receivable - Net - Total — — — — — — — —
Current Liabilities excluding Current Debt - Total — — — — — — — —
Cash in Hand & with Banks - Total 55.4 103.1 81.5 240.3 613.1 71.2 23.1 44.7
Current Assets excluding Cash & Short Term Investments - Total 124.0 124.0 148.4 210.1 253.2 279.3 294.1 326.9
Cash, Short Term Investments & Accounts Receivable - Total — — — — — — — —

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