Karachi: Al-Zamin Modaraba Management (Pvt.) Ltd., the management company of Trust Modaraba, announced its financial results for the fiscal year ending June 30, 2026, highlighting a downturn in annual profits and the absence of dividends for its certificate holders. The board meeting, which took place on September 24, 2026, was held at the company's Karachi office.
The company reported a profit of 11.38 million rupees for the year, down from 18.39 million rupees in the previous fiscal year. This marks a very large decrease in profit, reflecting the ongoing challenges faced by the Modaraba in its financial operations. As a result, the board decided not to distribute any cash dividends, bonus shares, or right shares to its certificate holders, maintaining a conservative approach amid the current financial landscape.
According to information available from the Pakistan Stock Exchange (PSX), Trust Modaraba's total assets stood at 405.52 million rupees, a slight increase from 401.96 million rupees reported last year. The company's liabilities saw a reduction, totaling 45.39 million rupees compared to 53.21 million rupees in the previous fiscal year. This reduction in liabilities is indicative of the company's efforts to streamline its financial commitments.
The detailed financial statements reveal that income from ijarah and murabaha finances experienced a decline, contributing to the overall decrease in profits. Income from ijarah dropped to 4.01 million rupees from 7.41 million rupees, while profit on murabaha finances fell to 2.94 million rupees from 3.88 million rupees. Conversely, the company saw an increase in profit from musharakah finances, which rose to 6.03 million rupees from 2.70 million rupees, offering a positive note amidst the financial challenges.
The annual review meeting of Trust Modaraba is scheduled for October 22, 2026, at the NBFI & Modaraba Association of Pakistan in Karachi. Share transfer books will be closed from October 15 to October 22, 2026, to facilitate the entitlement of any potential transferees.
The comprehensive annual report will be distributed through the Pakistan Unified Corporate Action Reporting System (PUCARS) at least 21 days before the scheduled annual meeting. This report will provide a detailed account of the Modaraba's financial activities, including standalone and consolidated statements, and any observations from auditors during the review of the quarterly accounts.
Trust Modaraba's financial results reflect the broader market conditions and challenges within the designated market category of non-banking financial institutions (NBFIs), as it continues to navigate an uncertain economic environment.