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FEM - FoxLogica

FEM

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⏸️ FEM: HOLD Signal (5/10) – Notice of Annual Review Meeting

⚡ Flash Summary

First Equity Modaraba (FEM) has announced the schedule for its 25th Annual Review Meeting (ARM) to be held on December 10, 2025. The meeting will review the performance of the Modaraba for the year ended June 30, 2025. Certificate holders can attend via video link or at the registered office in Karachi. The transfer book will be closed from December 4 to December 10, 2025, inclusive.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📅 FEM’s 25th Annual Review Meeting (ARM) is scheduled for December 10, 2025.
  • 💻 The ARM will be accessible via video link and at the registered office in Karachi.
  • 🏢 The registered office is located at B-1004 Lakson Square Building # 3 Sarwar Shaheed Road Karachi.
  • 🗓️ The meeting will review the Modaraba’s performance for the year ended June 30, 2025.
  • 🚫 The certificate transfer book will be closed from December 4 to December 10, 2025.
  • ✉️ Transfers received by THK Associates by December 3, 2025, will be considered valid.
  • 🤝 Certificate holders interested in attending via video conference should register at info@firstequitymodaraba.com.pk.
  • 🗣️ Comments and suggestions can also be sent to the registration email.
  • ❓ The notice does not provide specific financial performance metrics.
  • 📜 This announcement is purely procedural regarding the ARM and book closure.

🎯 Investment Thesis

Given the lack of financial information in this announcement, a HOLD recommendation is appropriate. There is insufficient evidence to either buy or sell. A price target cannot be established without financial data. Time horizon is not applicable until more information is available.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ FEM: HOLD Signal (5/10) – Transmission of Annual Report for the Year Ended June 30 2025

⚡ Flash Summary

First Equity Modaraba (FEM) reported a loss for the year ended June 30, 2025, reducing to Rs. (8.28) million from a loss of Rs. (19.44) million the previous year. This translates to a loss per certificate of Rs. (0.16) compared to Rs. (0.37) last year. The consolidated loss for the year stands at Rs (232.2) million compared to a loss of Rs (414.095) million previously. Despite the loss, the company anticipates continued momentum in the coming financial year, building on the stock market’s strong performance. Break-up value per certificate is Rs. 11.69 compared to Rs. 10.71 last year.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEGATIVE
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Loss for the year reduced to Rs. (8.28) million compared to Rs. (19.44) million last year.
  • 📉 Loss per certificate improved to Rs. (0.16) versus Rs. (0.37) last year.
  • 🏢 Consolidated loss is Rs. (232.2) million, an improvement from Rs. (414.095) million.
  • 📈 Break-up value per certificate increased to Rs. 11.69 from Rs. 10.71.
  • 🚫 No profit distribution announced due to sustained losses.
  • 🗓️ Book closure for regulatory compliance: December 04-10, 2025.
  • ⚠️ Auditors qualified opinion due to non-compliance with IFRS on fair value adjustments, impacting profit by Rs 54.37 million.
  • 🏛️ The Modaraba believes adjusting costs to fair value would inappropriately distribute unrealized capital gains.
  • 💪 Management anticipates continued momentum based on strong capital market performance.
  • 🧶 The textile sector deteriorated, leading to potential asset sales of subsidiary Equity Textile Ltd (ETL).
  • ⚠️ Withdrawal of tax exemptions for Modarabas impacts the sector.
  • ⚖️ Monitoring Federal Shariat Court verdict for Shariah compliance.
  • 🧑‍🤝‍🧑 Four board meetings held during the year.
  • ⭐ Acknowledgment of Qaiser Ahmed Magoon’s contribution as independent director.

🎯 Investment Thesis

HOLD. The Modaraba shows some improvements but continues to make losses. Need to assess Equity Textile value and any asset sales. Given the risks and a hold rating reflects the uncertainty.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 21, 2025

⏸️ FEM: HOLD Signal (5/10) – Disclosure of Material Information

⚡ Flash Summary

FEM announced: Disclosure of Material Information. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • FEM made announcement: Disclosure of Material Information
  • Automated analysis: HOLD signal detected
  • Signal strength: 5/10
  • This is basic analysis – manual review recommended
  • Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FEM. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 11, 2025

📉 FEM: SELL Signal (7/10) – Financial Results for the Quarter Ended September 30, 2025

⚡ Flash Summary

First Equity Modaraba reports financial results for the quarter ended September 30, 2025. A cash dividend, bonus shares, and right shares are all reported as NIL for the period. The statement of financial position is unaudited. The firm reports a loss for the period, while also dealing with unrealized losses.

Signal: SELL 📉
Strength: 7/10
Sentiment: NEGATIVE
Time Horizon: SHORT_TERM

📌 Key Takeaways

  • ❌ No cash dividend was declared for the period ended September 30, 2025.
  • 📉 The company reports a loss after taxation of PKR 1.758 million for the quarter ended September 30, 2025, compared to a loss of PKR 3.087 million in the same quarter last year.
  • 😔 Earnings per certificate stand at (0.034) compared to (0.059) last year.
  • ⚠️ Total equity and liabilities increased from PKR 665.198 million as of June 30, 2025, to PKR 698.991 million as of September 30, 2025.
  • 💸 Cash and bank balances increased from PKR 18.927 million to PKR 21.159 million.
  • 📊 Non-current assets decreased slightly from PKR 428.762 million to PKR 428.556 million.
  • 📉 Total current assets increased from PKR 236.435 million to PKR 270.435 million.
  • 📉 The company faced operating expenses of PKR 7.088 million and bank charges of PKR 3,566.
  • ⚠️ Minimum tax was PKR 81,926, and final tax was PKR 1,106.
  • 📉 Total equity decreased from PKR 612.814 million to PKR 644.353 million.
  • 🚧 Unrealized loss on re-measurement of investments increased from PKR 33.505 million to PKR 66.802 million.

🎯 Investment Thesis

I recommend a SELL rating. The company is currently not profitable, and there are unrealized losses. I do not have a price target.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 7, 2025

⏸️ FEM: HOLD Signal (5/10) – UNUSUAL MOVEMENT IN PRICE OF THE CERTIFICATE OF FIRST EQUITY MODARABA

⚡ Flash Summary

FEM announced: UNUSUAL MOVEMENT IN PRICE OF THE CERTIFICATE OF FIRST EQUITY MODARABA. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • FEM made announcement: UNUSUAL MOVEMENT IN PRICE OF THE CERTIFICATE OF FIRST EQUITY MODARABA
  • Automated analysis: HOLD signal detected
  • Signal strength: 5/10
  • This is basic analysis – manual review recommended
  • Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FEM. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

⏸️ FEM: HOLD Signal (5/10) – Transmission of Quarterly Report for the Period Ended September 30 2025

⚡ Flash Summary

First Equity Modaraba reported a loss of Rs (1.76) million for the quarter ended September 30, 2025, an improvement compared to the Rs (3.09) million loss in the same period last year. Loss per certificate improved to Rupees (0.034) from Rupees (0.059) year-over-year. The directors are awaiting an opportune time to divest investments in listed companies, expecting capital gains. The breakup value per certificate stood at Rupees 12.29. The company anticipates better economic conditions and a bullish capital market trend once political uncertainty settles.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • 📉 Loss for the quarter decreased to Rs (1.76) million from Rs (3.09) million YoY.
  • 📈 Loss per certificate improved to Rs (0.034) from Rs (0.059) YoY.
  • 📊 Breakup value per certificate is Rs 12.29.
  • 等待 Disinvestment in listed companies is planned when market conditions improve.
  • 🔮 Expectation of improved economic conditions post-political stability.
  • Bullish trend in capital markets is anticipated.
  • 🔍 Management fee and profit distribution to be determined at year-end.
  • 📜 Compliance with IAS-34 for interim financial reporting.
  • 🏦 Capital reserve is Rs 295.43 million.
  • 💰 Revenue reserve is Rs (246.29) million.
  • 🔒 Investments in unlisted securities remain at Rs 72.12 million.
  • Subsidiary Equity Textiles Limited is valued at Rs 350 million.
  • 🏢 Total assets are Rs 698.99 million.
  • 📉 Negative earnings per share of Rs (0.034).

🎯 Investment Thesis

HOLD. First Equity Modaraba’s improved financial performance and strategic focus on disinvestment warrant a hold recommendation. While losses have reduced, significant returns are contingent on favorable market conditions and the successful execution of investment strategies. A higher valuation is possible upon successful disinvestment and improved economic stability. Wait for the next quarterly report for any significant change.

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Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

⏸️ FEM: HOLD Signal (5/10) – Board Meeting Other Than Financial Results

⚡ Flash Summary

FEM announced: Board Meeting Other Than Financial Results. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • FEM made announcement: Board Meeting Other Than Financial Results
  • Automated analysis: HOLD signal detected
  • Signal strength: 5/10
  • This is basic analysis – manual review recommended
  • Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FEM. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: November 6, 2025

⏸️ FEM: HOLD Signal (5/10) – Board Meeting

⚡ Flash Summary

FEM announced: Board Meeting. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • FEM made announcement: Board Meeting
  • Automated analysis: HOLD signal detected
  • Signal strength: 5/10
  • This is basic analysis – manual review recommended
  • Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FEM. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 22, 2025

⏸️ FEM: HOLD Signal (5/10) – Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations

⚡ Flash Summary

FEM announced: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • FEM made announcement: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
  • Automated analysis: HOLD signal detected
  • Signal strength: 5/10
  • This is basic analysis – manual review recommended
  • Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FEM. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

⏸️ FEM: HOLD Signal (5/10) – Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations

⚡ Flash Summary

FEM announced: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Reg. Basic analysis suggests neutral sentiment. Professional review recommended.

Signal: HOLD ⏸️
Strength: 5/10
Sentiment: NEUTRAL
Time Horizon: MEDIUM_TERM

📌 Key Takeaways

  • FEM made announcement: Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
  • Automated analysis: HOLD signal detected
  • Signal strength: 5/10
  • This is basic analysis – manual review recommended
  • Professional CFA analysis unavailable

🎯 Investment Thesis

Basic HOLD indication for FEM. Manual verification required.

View Original PDF

Disclaimer: AI-generated analysis. Not financial advice.

Written by: FoxLogica News Analysis

Published on: October 7, 2025

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