First Capital Equities Posts Loss of Rs46.37 Million for FY2026

First Capital Equities Limited has reported a loss after taxation of Rs46.37 million for the financial year ended June 30, 2026, compared with a profit after taxation of Rs170.91 million in the previous year.

According to the company’s financial results submitted to the Pakistan Stock Exchange, the company recorded a profit before taxation of Rs44.62 million from continuing operations during FY2026. However, a loss of Rs90.99 million after taxation from discontinued operations resulted in an overall loss for the year.

The company’s continuing operations generated total income of approximately Rs118.40 million, compared with Rs63.60 million in FY2025. A major component was an unrealized gain of Rs113.14 million on the remeasurement of investments at fair value through profit or loss. The company also reported dividend income of Rs1.90 million and a fair value gain on investment property of Rs2.59 million.

At the same time, expenses increased significantly. Operating and administrative expenses stood at approximately Rs1.97 million, while finance costs rose sharply to Rs71.57 million, compared with only Rs0.55 million in the previous year. This resulted in operating profit of about Rs44.86 million.

The company’s earnings per share from continuing operations stood at Rs0.316, while loss per share from discontinued operations was Rs0.644, resulting in an overall basic and diluted loss per share of Rs0.328 for FY2026.

Assets and Equity Position

As of June 30, 2026, First Capital Equities reported total assets of approximately Rs1.25 billion, up from Rs1.24 billion a year earlier. Investment property was valued at around Rs827.37 million, while current assets stood at approximately Rs427.27 million.

The company’s total equity declined to approximately Rs477.11 million, compared with Rs523.48 million at June 30, 2025. Accumulated losses increased to approximately Rs936.24 million during the year.

Current liabilities increased substantially to around Rs777.62 million, compared with approximately Rs79.09 million in the previous year, largely reflecting the current portion of long-term financing and other payables.

No Cash Dividend or Bonus Shares

The Board of Directors recommended no bonus shares, no cash dividend and no right issue for the financial year ended June 30, 2026.

The company has also announced its Annual General Meeting for October 28, 2026, at 11:00 a.m. in Lahore. The share transfer books will remain closed from October 21 to October 28, 2026, both days inclusive.

Cash Flow Remains Negative

The cash flow statement shows that the company used approximately Rs2.83 million in operating activities during FY2026. Investing activities generated net cash of approximately Rs1.67 million, while there were no reported cash flows from financing activities.

Cash and cash equivalents declined from approximately Rs1.49 million at the beginning of the year to Rs324,505 at year-end.

Overall, First Capital Equities’ FY2026 results show a significant shift from the previous year’s profit to a loss, primarily reflecting the impact of discontinued operations and substantially higher finance costs. The company’s continuing operations remained profitable, supported by gains on investments, but these were not sufficient to offset the loss from discontinued operations.