Karachi: Burj Clean Energy Modaraba has reported a robust financial performance for the year ended June 30, 2026, marking its first full year of operations. The Board of Directors, in their meeting held on September 28, 2026, recommended a final cash dividend of Rs. 0.60 per share, equivalent to 6%, to be distributed among shareholders registered by October 19, 2026. This announcement comes as the Modaraba transitions from its startup phase to establishing itself as a key player in Pakistan's renewable energy sector.
Listed on the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX) since October 2024, Burj Clean Energy Modaraba is recognized as the nation's first Shariah-compliant green energy fund. According to information available from the Pakistan Stock Exchange (PSX), the Modaraba's listing was a significant step in promoting sustainable energy solutions through Shariah-compliant investments. With a paid-up capital of PKR 1 billion, the Modaraba initially offered 10 million certificates at a fixed price of Rs. 10, raising Rs. 100 million.
The Modaraba’s financial performance for the year showcases a substantial increase in total income from operations, reaching PKR 249.58 million, up from PKR 50.00 million in 2025. This includes advisory income of PKR 140.00 million from a hybrid wind and solar project, Ijarah rental income of PKR 72.30 million, and management consultancy income of PKR 35.00 million, among others. Despite an increase in financial charges to PKR 79.26 million, the Modaraba achieved a profit before taxation of PKR 140.70 million and a profit after taxation of PKR 91.29 million, reflecting a 112% increase from the previous year.
The Modaraba's assets have grown significantly to PKR 4,024.70 million, driven by the capitalization of a 7.5MW wind asset. Long-term financing and Short-Term Sukuk have supported this expansion, with outstanding Sukuk totaling PKR 1,015.95 million at the year-end. The Modaraba's equity is recorded at PKR 1,128.04 million following a profit distribution of PKR 39.00 million for the prior period.
On a consolidated basis, including the results of its subsidiary, Burj Solar Energy (Private) Limited, the Group's total income from operations stood at PKR 362.52 million, with a profit after taxation of PKR 93.54 million. The consolidated assets and equity were PKR 4,418.47 million and PKR 1,146.63 million, respectively.
Operationally, Burj Clean Energy Modaraba achieved significant milestones, including the commissioning of Pakistan's first captive wind turbine at Power Cement's facility in Nooriabad. This 7.5MW wind power project, a flagship for the Modaraba, underscores its commitment to advancing Shariah-compliant renewable energy solutions.
The Modaraba's credit rating was reaffirmed at 'A/A1' with a Stable outlook by VIS Credit Rating Company Limited, reflecting its solid financial standing and supporting its access to diversified Shariah-compliant funding.