First Al-Noor Modaraba
PPSX:FANM9.80
PKR
-0.12
(-1.21%)
First Al-Noor Modaraba
PSX:FANM
(Pakistan Stock Exchange)
Recent
price
9.80
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- First Al-Noor Modaraba is a Pakistan-based Islamic financial services institution and trading enterprise that operates as a multipurpose, perpetual Modaraba managed by Al-Noor Modaraba Management (Private) Limited, a member of the Al-Noor Group. Established in 1992 and headquartered in Karachi, Pakistan, the company provides Shariah-compliant financing facilities and engages in commercial commodity trading across Pakistan. The company conducts its operations through four principal business segments: Financing, Ijarah, Investments, and Trading. Its core products and services comprise Ijarah facilities for the lease financing of industrial plant, machinery, equipment, and commercial motor vehicles; Murabaha contracts for cost-plus working capital and raw material procurement financing; Musharakah and Diminishing Musharakah arrangements for equity participation, joint ventures, and structured co-ownership asset financing; Musawamah agreements for general commodity and trade financing; and strategic equity investments in listed and unlisted securities. Complementing its financial intermediation activities, the company operates an agricultural trading and distribution business that procures, processes, and distributes food commodities, anchored by its proprietary Shalamar brand of premium super kernel basmati rice, alongside commercial transactions in pulses and agricultural produce. In recent operational developments, First Al-Noor Modaraba has strategically expanded and revitalized its commodity trading operations to diversify income streams beyond conventional financing, driving substantial growth in commercial trading turnover. Additionally, the company has rebalanced its financing and investment portfolios to mitigate counterparty credit risk amid changing macroeconomic conditions, optimizing asset allocation across Shariah-compliant financing facilities, equity holdings, and high-turnover commodity distribution channels while strengthening its internal governance and risk management frameworks.