⚡ Flash Summary

First Capital Mutual Fund’s financial results for the year ended June 30, 2025, show an increase in total income compared to the previous year. The fund’s total income increased from 63,944,362 Rupees in 2024 to 69,712,401 Rupees in 2025. Net income from operating activities also increased from 59,217,765 Rupees to 63,505,130 Rupees for the same period. The financial results reflect positive performance in capital gains and investment income, indicating effective management and favorable market conditions.

📌 Key Takeaways

• 📈 Total Income grew to 69,712,401 Rupees in 2025, up from 63,944,362 Rupees in 2024.
• 💰 Capital gains from investments increased to 20,357,838 Rupees.
• 💸 Dividend income rose to 9,738,198 Rupees from 8,128,055 Rupees in 2024.
• 🏦 Profit on bank deposits decreased to 2,026,800 Rupees.
• 📊 Unrealized appreciation on revaluation of investments increased to 37,589,565 Rupees.
• 🏢 Management Company remuneration increased to 3,391,009 Rupees.
• 🧾 Punjab Sales tax on Management Company remuneration increased to 542,561 Rupees.
• 🛡️ Securities transaction costs increased to 483,086 Rupees.
• ✔️ Auditors’ remuneration increased slightly to 996,001 Rupees.
• 🇵🇰 Annual listing fee of Pakistan Stock Exchange remained stable at 21,999 Rupees.
• 🏦 Bank charges decreased significantly to 357 Rupees.
• 💹 Total expenses increased to 6,207,271 Rupees.
• ✅ Net Income from operating activities increased to 63,505,130 Rupees.
• 💸 Income already paid on units redeemed was (9,229,425) Rupees.

🎯 Investment Thesis

Based on the positive financial results and effective management, a BUY recommendation is warranted. The fund is well-positioned to generate further returns for investors. A price target of 110 Rupees with a time horizon of 12 months is set, contingent on continued positive market conditions and management effectiveness.