Aankondiging • Apr 23
B.F. Modaraba to Report Q3, 2026 Results on Apr 29, 2026 B.F. Modaraba announced that they will report Q3, 2026 results at 9:30 AM, Pakistan Standard Time on Apr 29, 2026 New Risk • Mar 01
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.8% Last year net profit margin: 56% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Revenue is less than US$1m (PK₨18m revenue, or US$65k). Market cap is less than US$10m (PK₨169.1m market cap, or US$605.5k). Minor Risk Profit margins are more than 30% lower than last year (3.8% net profit margin). Aankondiging • Feb 20
B.F. Modaraba to Report Q2, 2026 Results on Feb 26, 2026 B.F. Modaraba announced that they will report Q2, 2026 results on Feb 26, 2026 Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to PK₨20.41, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 355% over the past three years. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to PK₨32.70, the stock trades at a trailing P/E ratio of 14.3x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 728% over the past three years. Valuation Update With 7 Day Price Move • Dec 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to PK₨25.45, the stock trades at a trailing P/E ratio of 11.1x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 588% over the past three years. Valuation Update With 7 Day Price Move • Dec 01
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to PK₨21.04, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 331% over the past three years. New Risk • Nov 01
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 32% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). High level of non-cash earnings (32% accrual ratio). Revenue is less than US$1m (PK₨36m revenue, or US$128k). Market cap is less than US$10m (PK₨158.9m market cap, or US$566.0k). Valuation Update With 7 Day Price Move • Oct 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to PK₨21.15, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 327% over the past three years. Aankondiging • Oct 24
B.F. Modaraba to Report Q1, 2026 Results on Oct 30, 2025 B.F. Modaraba announced that they will report Q1, 2026 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to PK₨13.74, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 186% over the past three years. Aankondiging • Oct 03
B.F. Modaraba, Annual General Meeting, Oct 27, 2025 B.F. Modaraba, Annual General Meeting, Oct 27, 2025. Location: at the plot no, 43-1-e, p.e.c.h.s, block-6, off, razi road, shahrah-e-faisal, karachi Pakistan Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to PK₨15.73, the stock trades at a trailing P/E ratio of 6.1x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 174% over the past three years. Valuation Update With 7 Day Price Move • Aug 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to PK₨12.53, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 74% over the past three years. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to PK₨11.17, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 6x in the Capital Markets industry in Pakistan. Total returns to shareholders of 123% over the past three years. Valuation Update With 7 Day Price Move • May 13
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to PK₨8.34, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 5x in the Capital Markets industry in Pakistan. Total returns to shareholders of 67% over the past three years. New Risk • Mar 05
New major risk - Revenue and earnings growth Earnings have declined by 4.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 4.6% per year over the past 5 years. Revenue is less than US$1m (PK₨33m revenue, or US$119k). Market cap is less than US$10m (PK₨52.6m market cap, or US$188.1k). New Risk • Jan 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Pakistani stocks, typically moving 9.9% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.9% average weekly change). Revenue is less than US$1m (PK₨16m revenue, or US$57k). Market cap is less than US$10m (PK₨56.4m market cap, or US$202.3k). Aankondiging • Oct 05
B.F. Modaraba, Annual General Meeting, Oct 28, 2024 B.F. Modaraba, Annual General Meeting, Oct 28, 2024. Location: at the plot no. 43-1-e, p.e.c.h.s, block-6, off razi road, shahrah-e-faisal, karachi Pakistan Board Change • Mar 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 31
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jul 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment improved over the past week After last week's 25% share price gain to PK₨5.75, the stock trades at a trailing P/E ratio of 32x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total returns to shareholders of 37% over the past three years. Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improved over the past week After last week's 16% share price gain to PK₨5.80, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 39% over the past three years. Board Change • Jul 25
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment deteriorated over the past week After last week's 38% share price decline to PK₨5.62, the stock trades at a trailing P/E ratio of 31.3x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 21% over the past three years. Board Change • Jun 14
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improved over the past week After last week's 50% share price gain to PK₨9.00, the stock trades at a trailing P/E ratio of 50.1x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 94% over the past three years. Board Change • May 18
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director of E.A. Management (Pvt.) Ltd Tasneem Yusuf was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorated over the past week After last week's 23% share price decline to PK₨5.00, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 6x in the Capital Markets industry in Pakistan. Total loss to shareholders of 17% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improved over the past week After last week's 25% share price gain to PK₨7.50, the stock trades at a trailing P/E ratio of 18.4x. Average trailing P/E is 6x in the Capital Markets industry in Pakistan. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improved over the past week After last week's 15% share price gain to PK₨7.49, the stock trades at a trailing P/E ratio of 13.3x. Average trailing P/E is 7x in the Capital Markets industry in Pakistan. Total returns to shareholders of 7.4% over the past three years. Board Change • Jan 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. No highly experienced directors. 1 independent director (3 non-independent directors). Independent Director of E.A. Management (Pvt.) Ltd Abdul Ghaffar Kapadia was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 24% share price gain to PK₨6.20, the stock trades at a trailing P/E ratio of 11x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total loss to shareholders of 24% over the past three years. Upcoming Dividend • Oct 13
Upcoming dividend of PK₨0.50 per share Eligible shareholders must have bought the stock before 20 October 2021. Payment date: 18 November 2021. Trailing yield: 7.1%. Lower than top quartile of Pakistani dividend payers (10%). Lower than average of industry peers (8.6%). Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment deteriorated over the past week After last week's 33% share price decline to PK₨7.21, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 10x in the Capital Markets industry in Pakistan. Total loss to shareholders of 18% over the past three years. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improved over the past week After last week's 27% share price gain to PK₨8.24, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 11x in the Capital Markets industry in Pakistan. Total loss to shareholders of 6.4% over the past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 24% share price gain to PK₨5.70, the stock trades at a trailing P/E ratio of 8.5x. Average trailing P/E is 8x in the Capital Markets industry in Pakistan. Total loss to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to PK₨4.24, the stock trades at a trailing P/E ratio of 34.4x. Average trailing P/E is 10x in the Capital Markets industry in Pakistan. Total loss to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Mar 23
Investor sentiment deteriorated over the past week After last week's 17% share price decline to PK₨4.50, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 11x in the Capital Markets industry in Pakistan. Total loss to shareholders of 49% over the past three years. Valuation Update With 7 Day Price Move • Mar 08
Investor sentiment deteriorated over the past week After last week's 18% share price decline to PK₨5.44, the stock is trading at a trailing P/E ratio of 44.1x, down from the previous P/E ratio of 53.6x. This compares to an average P/E of 9x in the Capital Markets industry in Pakistan. Total return to shareholders over the past three years is a loss of 36%. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 23% share price gain to PK₨8.50, the stock is trading at a trailing P/E ratio of 16.5x, up from the previous P/E ratio of 13.4x. This compares to an average P/E of 14x in the Capital Markets industry in Pakistan. Total return to shareholders over the past three years is a loss of 1.2%. Valuation Update With 7 Day Price Move • Oct 30
Market bids up stock over the past week After last week's 20% share price gain to PK₨5.99, the stock is trading at a trailing P/E ratio of 16.9x, up from the previous P/E ratio of 14.1x. This compares to an average P/E of 10x in the Capital Markets industry in Pakistan. Total return to shareholders over the past three years is a loss of 30%.