FHAM

⚡ Flash Summary

First Habib Modaraba (FHM) reported a strong financial performance for the year 2024-25, marking its 40th year of operation. The company achieved its highest-ever profit before tax and management fees, reaching Rs. 1.42 billion, and the highest disbursement at Rs. 19.6 billion. FHM’s balance sheet footing also hit a record Rs. 34.75 billion. The company declared a 22.5% cash dividend for June 2025, reflecting its consistent dividend payout history.

📌 Key Takeaways

• 🎉 FHM celebrates its 40th year of successful business operations.
• 🏦 FHM maintains its position as a leading Modaraba within Pakistan’s NBFI sector.
• 🏆 FHM has consistently secured AA+ rating for the last 17 years from PACRA.
• 💼 FHM’s total staff strength stood at 88 as of June 30, 2025.
• 📈 Profit before tax & management fee reached Rs. 1.42 billion, a record high.
• 💰 Disbursement reached Rs. 19.6 billion, the highest in FHM’s history.
• 💪 Financing asset size hit an all-time high of Rs. 32.6 billion.
• 📊 Balance Sheet footing reached Rs. 34.75 billion for the first time.
• 💸 Fund mobilization reached Rs. 27.06 billion, the highest ever.
• ✅ Profit after tax reached Rs. 901 million, the highest since inception.
• 💸 The company has announced a 22.5% cash dividend for June 2025.
• 🌱 FHM maintains a diversified financing portfolio with stable sectors of the country.
• ⭐ FHM secures best report awards for the last 15 consecutive years.

🎯 Investment Thesis

FHM presents a compelling investment opportunity due to its strong financial performance, consistent dividend payout, and robust risk management practices. The company’s long-standing history, AA+ credit rating, and commitment to Shariah compliance provide a solid foundation for future growth. BUY.