PSX Company Profiles
What listed companies do, how they make money, key financials and Shariah status, researched by the PSX Investors Zone team.
3 companies
Modarabas / Renewable Energy Finance
Burj Clean Energy Modaraba
Burj Clean Energy Modaraba (PSX: GEMBCEM) is a perpetual Modaraba listed on the Pakistan Stock Exchange's Growth Enterprise Market Board in October 2024. Managed by Burj Investment Management Limited, it focuses on Shariah-compliant financing and leasing of renewable-energy equipment, clean-energy projects, energy storage, and related solutions. The Modaraba's activities include solar and wind projects, renewable-energy equipment leasing, energy-efficiency advisory, and clean-energy financing. Its model is designed to generate income through asset-based financing and lease rentals rather than relying solely on electricity generation or equipment sales. For FY2026, standalone profit after tax increased to Rs 91.29 million from Rs 43.03 million in FY2025. Consolidated revenue rose to Rs 362.52 million, while consolidated profit after tax reached Rs 93.54 million. The board recommended a final cash dividend of Rs 0.60 per certificate, equivalent to 6% of face value, subject to the applicable approval process. VIS maintains entity ratings of A for the medium- to long-term and A1 for the short-term, with a Stable outlook. On October 22, 2026, VIS finalized an A1 rating for the Modaraba's Rs 1.5 billion Short-Term Sukuk III. Investors should evaluate lease income, project performance, financing costs, Sukuk obligations, customer concentration, liquidity, and the latest Shariah disclosures before assessing the certificates.
Power Generation & Distribution
Mughal Energy Limited
Mughal Energy Limited (PSX: GEMMEL) is a Pakistani power-generation company and a subsidiary of Mughal Iron & Steel Industries Limited. Incorporated in 2012, the company developed a 36.5 MW hybrid captive power plant intended primarily to supply electricity to group companies. Its main 31.5 MW turbine reportedly achieved commercial operation on August 31, 2026. In FY2026, the company reported a net profit of Rs9.13 million and earnings per share of Rs0.05, compared with a net loss in the previous financial year. The company appeared as Shariah-compliant in the PSX-KMI All Share Islamic Index recomposition dated May 29, 2026, using December 31, 2025 screening data. Investors should also note that PSX displays a Risk Warning Alert citing continuous regulatory non-compliance and possible suspension or delisting. Both the Shariah screening status and regulatory position should be rechecked against the latest official disclosures.
Miscellaneous
The Pakistan Credit Rating Agency Limited
The Pakistan Credit Rating Agency Limited (PSX: GEMPACRA), commonly known as PACRA, is a Pakistani credit rating agency incorporated in 1994 and listed on the Pakistan Stock Exchange's Growth Enterprise Market Board on June 30, 2025. Licensed by the Securities and Exchange Commission of Pakistan, PACRA assesses the credit risk of companies and financial instruments, helping market participants evaluate the ability of borrowers and issuers to meet financial obligations. Its broader business interests include analytics, advisory, training and research through associated and subsidiary businesses. PSX-standardized standalone financial data for FY2026 reports revenue of Rs523.24 million, profit after tax of Rs128.08 million and EPS of Rs1.72. PACRA was classified as Shariah-compliant in the PSX-KMI All Share Islamic Index recomposition published in May 2026, based on December 2025 data. Investors should also review the Risk Warning Alert on its official PSX profile, which warns of potential trading suspension or delisting due to continuous regulatory non-compliance.