FPRM

First Paramount Modaraba

By PSX Investors Zone · Updated October 23, 2026

First Paramount Modaraba company profile

First Paramount Modaraba (PSX: FPRM) is a Pakistan Stock Exchange-listed Islamic financial institution managed by Paramount Investments Limited. Its activities include Islamic financing arrangements such as Murabaha, Musharakah and Modaraba, alongside business services operating under brands including FPM Petro Services, FPM Solutions and FPM AML-Check. The company was included as Shariah-compliant in the PSX-KMI All Share Islamic Index review effective 5 June 2026. However, PSX displays a Risk Warning Alert regarding continuing regulatory violations and possible suspension or delisting. Investors should review the latest financial statements, regulatory announcements and Shariah-screening status before making an investment decision.

First Paramount Modaraba (PSX: FPRM) is a listed Islamic financial institution in Pakistan managed by Paramount Investments Limited. It operates under the Modaraba framework and undertakes financing and business activities intended to follow Islamic financial principles.

Company Overview

First Paramount Modaraba is a perpetual, multipurpose Modaraba listed on the Pakistan Stock Exchange. Its principal financing activities include Murabaha, Musharakah and Modaraba arrangements. Its other business activities include chemical services through FPM Petro Services, electrical maintenance and troubleshooting through FPM Solutions, and anti-money-laundering screening services through FPM AML-Check.

Official sources:

Business Activities

The Modaraba combines Islamic financing with operating businesses. Murabaha generally involves the sale of an asset at a disclosed cost plus an agreed profit, while Musharakah involves a partnership arrangement. The precise terms and risk allocation depend on each contract.

The company also provides specialist services through its in-house ventures. Investors should review the latest annual report to understand how financing income, operating businesses, expenses and asset quality contribute to overall performance.

Financial Performance

The PSX company page reports the following annual figures. Amounts for total income and profit after taxation are in Pakistani rupees; income and profit are shown here in millions for readability.

Financial yearTotal incomeProfit after taxationEPS
FY2025Rs. 104.933 millionRs. 23.898 millionRs. 1.73
FY2024Rs. 113.347 millionRs. 28.542 millionRs. 2.07

These figures indicate that reported total income and profit after taxation were lower in FY2025 than in FY2024. They are historical results, not a forecast of future performance. The PSX page notes that some financial data may be standardised; consult the issuer's published statements for the complete reported figures.

The PSX announcements page shows that the board meeting to consider audited financial statements for the year ended 30 June 2026 was rescheduled in October 2026. The FY2026 audited results should not be assumed until the official results are published.

Source: PSX financials and announcements.

Shariah Compliance Status

First Paramount Modaraba appears as Compliant in the PSX-KMI All Share Islamic Index recomposition published in May 2026, effective 5 June 2026 and based on accounts dated 31 December 2025. This is a dated screening result, not a guarantee of permanent compliance. Shariah status can change following subsequent screening reviews.

Investors should check the latest official index notice and the company's mandatory Shariah disclosures before relying on this status.

Sources:

Important PSX Risk Warning Alert

PSX currently displays a Risk Warning Alert for FPRM. The exchange states that the company is in continuing violation of specified clauses and carries a risk of suspension of trading or delisting, subject to the exchange's terms and conditions.

This alert is a material regulatory consideration and should not be overlooked because the company has a Shariah-compliant screening status. Shariah screening and exchange-listing compliance address different matters. Investors should read the latest PSX notices and verify whether the alert remains in force before making decisions.

Source: Official PSX profile and Risk Warning Alert.

Credit Rating

VIS Credit Rating Company Limited reported on 30 June 2026 that it upgraded First Paramount Modaraba's long-term entity rating from BBB to BBB+, maintained the short-term rating at A-3, and assigned a Stable outlook. A credit rating is an assessment of credit risk; it is not a guarantee of repayment, profitability or investment returns.

Source: First Paramount Modaraba — credit rating information.

What Investors Should Review

Before evaluating FPRM, investors may wish to examine:

  • Profitability: Review income, expenses, profit after taxation and earnings per certificate across several reporting periods.
  • Financing and asset quality: Read the financial statements for details of receivables, financing exposures, provisions and liquidity.
  • Corporate actions: Check official notices concerning rights issues, certificate allotments and other material changes.
  • Regulatory standing: Read the latest PSX Risk Warning Alert and any subsequent compliance or suspension notices.
  • Shariah status: Confirm that the company remains compliant under the latest available official screening review.
  • Market valuation: Compare the market price with reported earnings, net assets and the risks disclosed by the company.

Historical performance and credit ratings do not establish future returns, and a low share price alone does not prove that a certificate is undervalued.

Frequently Asked Questions

Is First Paramount Modaraba Shariah-compliant?

It was marked compliant in the PSX-KMI All Share Islamic Index review effective 5 June 2026, based on accounts dated 31 December 2025. Investors should verify the latest screening status.

What is the PSX symbol for First Paramount Modaraba?

Its Pakistan Stock Exchange symbol is FPRM.

What businesses does First Paramount Modaraba operate?

Its activities include Islamic financing and services under FPM Petro Services, FPM Solutions and FPM AML-Check.

Does FPRM carry a PSX Risk Warning Alert?

Yes. The PSX company page displays a warning concerning continuing regulatory violations and the risk of suspension or delisting. Check the official page for the latest status.

Where can investors find official financial statements?

Use the PSX company profile and the official company website to access available announcements, financial statements and disclosures.

Official Sources

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This profile is for educational purposes and is not a recommendation to buy or sell any security.

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