Lahore: The Board of Directors of First Capital Equities Limited (FCEL) has released the financial statements for the period ending September 30, 2026, showing a notable shift in the company's performance and strategic direction. The financial report, dated October 21, 2026, highlights the company's transition from stock brokerage to real estate, a move that has impacted its financial outcomes.
In a strategic decision, the Board decided to change the principal line of business from stock brokerage to real estate. Consequently, FCEL has surrendered its trading right entitlement certificate (TREC) with the Pakistan Stock Exchange Limited, a process still pending completion of formalities required by the PSX.
The financial summary for the three-month period ending September 30, 2026, reveals a stark contrast in performance compared to the same period in 2025. The company reported a loss of Rs. 11.553 million in the first quarter of FY26, a significant decline from the profit of Rs. 105.183 million recorded in the same quarter of the previous year. Brokerage income remained at nil for both periods, with no capital gains or losses recorded. The unrealized gain on the re-measurement of investments stood at Rs. 8.167 million for 1QFY26, a significant decrease from Rs. 105.594 million in 1QFY25. Operating expenses showed a 74% increase during the period under review.
According to information available from the Pakistan Stock Exchange (PSX), the company's earnings per share from continuing operations decreased to Rs. (0.080) in the first quarter of FY26, compared to Rs. 0.75 in the same period last year. The earnings per share from discontinued operations remained unchanged at Rs. (0.001).
The company's condensed interim statement of financial position as of September 30, 2026, records total assets amounting to Rs. 1.262 billion, a slight increase from Rs. 1.255 billion as of June 2026. Non-current assets include investment property valued at Rs. 827.37 million, while current assets are reported at Rs. 435.33 million. The company's total equity is valued at Rs. 465.56 million, down from Rs. 477.11 million in June 2026, with accumulated losses amounting to Rs. 947.79 million.
The company's current liabilities stand at Rs. 797.22 million, with trade and other payables recorded at Rs. 71.89 million. The current portion of long-term financing has increased to Rs. 725.33 million from Rs. 706.15 million in June 2026.
This report places the company within the designated market category of real estate, marking a pivotal shift from its previous operations within stock brokerage. As FCEL navigates this transition, the company's financial performance reflects the challenges and transformations inherent in such a significant strategic realignment.