PSX Company Profiles
What listed companies do, how they make money, key financials and Shariah status, researched by the PSX Investors Zone team.
2 companies
Modarabas
First Treet Manufacturing Modaraba
First Treet Manufacturing Modaraba (PSX: FTMM) is a Pakistani Islamic financial institution managed by Treet Holdings Limited. Its manufacturing operations include corrugated packaging, soaps and batteries. For FY2026, net turnover increased to Rs. 4.163 billion from Rs. 3.793 billion in FY2025, while profit after taxation rose to Rs. 119.924 million and EPS reached Rs. 0.613. An interim cash dividend of Rs. 1.50 per certificate was declared during FY2026, with no additional final dividend proposed in the annual results announcement. The company was marked Shariah-compliant in the PSX-KMI All Share Islamic Index review effective 5 June 2026. However, PSX displays a Risk Warning Alert concerning regulatory violations and possible suspension or delisting. The proposed transfer of its corrugation and soap segments to Treet Packaging Limited is another important corporate development for investors to monitor.
Modarabas
First Tri-Star Modaraba
First Tri-Star Modaraba (PSX: FTSM) is a perpetual, multipurpose Modaraba managed by A.R.T. Modaraba Management (Private) Limited. Its activities include investment transactions and operating an educational institution, Imperial Tutorial College. For FY2026, academic revenue was Rs. 23.083 million, profit after taxation was Rs. 4.907 million and EPS was Rs. 0.23, compared with a restated FY2025 loss of Rs. 15.030 million and negative EPS of Rs. 0.71. The board recommended no dividend for FY2026. Although FTSM was marked Shariah-compliant in the PSX-KMI All Share Islamic Index review effective 5 June 2026, PSX displays a Risk Warning Alert concerning regulatory violations and possible suspension or delisting. The annual report also records a substantial negative investment-revaluation movement in other comprehensive income. Investors should review these issues alongside the company's earnings, market valuation and regulatory disclosures.