Karachi: First Al-Noor Modaraba has released its financial report for the year ending September 25, 2026, revealing substantial shifts in asset allocations and liabilities over the past year. According to the report, the company has experienced a moderate move in its financial landscape, marked by various changes across its vertical and horizontal analyses.
The balance sheet indicates a notable realignment in non-current assets. Fixed assets in own use saw a very large or significant move, increasing from 0.46% in 2025 to 7.355% in 2026. Meanwhile, long-term investments rose moderately to 5.904% from 5.67% in the previous year. On the other hand, assets like long-term portions of diminishing musharakah and Ijarah assets are absent from the 2026 records, reflecting a strategic shift in the company's asset management.
In the realm of current assets, cash and bank balances experienced a very large or significant move, decreasing drastically from 48.69% in 2025 to 25.478% in 2026. Conversely, stock in trade surged significantly, climbing from 24.82% to 38.539%. Additionally, short-term investments rose from 15.40% to 18.466%, indicating a moderate move in investment strategy.
Equity and liabilities also presented noteworthy trends. The issued, subscribed, and paid-up capital showed a minor move from 84.27% in 2025 to 84.13% in 2026. However, accumulated losses increased from (18.18%) to (19.33%), marking a moderate move. Deferred liability for staff gratuity rose from 2.73% to 3.60%, indicating a big move in non-current liabilities.
According to information available from the Pakistan Stock Exchange (PSX), the profit and loss account demonstrated a significant shift in revenue streams. The profit on trading operations experienced a very large or significant move, increasing from 35.70% in 2025 to 50.24% in 2026. Income from investments saw a big move, dropping from 57.89% to 45.97%. Operating expenses escalated significantly to (103.50%) from (82.39%), highlighting a strategic focus on operational costs.
The report also highlighted a financial decline, with the overall loss for the year moving from a minor profit of 5.45% in 2025 to a loss of (7.68%) in 2026, indicating a big move. This shift underscores the challenges faced by First Al-Noor Modaraba in maintaining profitability amidst changing market conditions.
The detailed financial report from First Al-Noor Modaraba provides a comprehensive overview of the company's strategic adjustments and financial health, as it navigates the complexities of the market within the designated market category.