NOTICE

PSX/N-576 Dated: June 14, 2024

RECOMPOSITION OF PSX-KMI ALL SHARE ISLAMIC INDEX

It is hereby informed that the Pakistan Stock Exchange Limited has carried out the re-composition exercise
of PSX-KMI ALL SHARE ISLAMIC INDEX for the review period July 01, 2023 to December 31, 2023. The re-
composition has been carried out on the basis of the criteria of selection of companies as detailed in the
brochure of PSX-KMI All Share Islamic Index, which can be downloaded from the website of the Exchange:
www.psx.com.pk.
The recomposed PSX-KMI All Share Islamic Index will comprise of 255 companies, in aggregate, out of which
28 new companies are included in the Index (including 5 newly listed companies in 2024), whereas, 29
companies have been removed from the Index. Enclosed herewith is the list with complete details of
inclusion and exclusion of the recomposed Index.
The recomposed PSX-KMI All Share Index will be implemented w.e.f. Tuesday, June 25, 2024.

Aman Ullah Khan, CFA

Manager
Product Management & Research Dept.
Copy to:
Chief Market Operations Officer-PSX
PSX Website

Product Management & Research Dept. | UAN: +9221 111-00-11-22 | E-mail: info@psx.com.pk | Web: psx.com.pk
 NOTICE
LIST OF INCOMING / OUTGOING COMPANIES
S.No Incoming Companies Outgoing Companies
Abdullah Shah Ghazi Sugar Mills
1 AGSML Limited ADAMS Adam Sugar Mills Limited
2 ASTM Asim Textile Mills Limited AKDHL AKD Hospitality Limited
3 BML Bank Makramah Limited ASL Aisha Steel Mills Limited
4 BRRG B.R.R Guardian Limited ASTL Amreli Steels Limited
5 CHAS Chashma Sugar Mills Limited BECO Beco Steel Limited
6 FASM Faisal Spinning Mills Limited COLG Colgate-Palmolive (Pakistan) Limited
7 FML Feroze1888 Mills Limited EPQL Engro Powergen Qadirpur Limited
8 GEMPAPL Pak Agro Packaging Limited(GEM) FZCM Fazal Cloth Mills Limited
9 GEMSPNL Supernet Limited(GEM) GLPL Gillette Pakistan Limited
10 HRPL Habib Rice Product Limited. HABSM Habib Sugar Mills Limited
11 JATM J.A. Textile Mills Limited HAEL Hala Enterprises Limited
12 MIRKS Mirpurkhas Sugar Mills Limited HCAR Honda Atlas Cars (Pakistan) Limited
13 MRNS Mehran Sugar Mills Limited HCL Hallmark Company Limited
14 NONS Noon Sugar Mills Limited IDRT Idrees Textile Mills Limited
15 OCTOPUS Octopus Digital Limited LPL Lalpir Power Limited
16 PAKOXY Pakistan Oxygen Limited NATF National Foods Limited
17 PMRS The Premier Sugar Mills OGDC Oil & Gas Development Company Limited
18 SGPL S.G. Power Limited PHDL Pakistan Hotels Developers Limited
19 SHJS Shahtaj Sugar Mills Limited PNSC Pakistan National Shipping Corporation
20 SHSML Shahmurad Sugar Mills Limited QUET Quetta Textile Mills Limited
21 SSML Saritow Spinning Mills Limited SFL Sapphire Fibres Limited
22 SYM Symmetry Group Limited SPWL Saif Power Limited
The Thal Industries Corporation
23 TICL Limited STPL Siddiqsons Tin Plate Limited
24 FCL Fast Cables Limited^ SUTM Sunrays Textile Mills Limited
International Packaging Films
25 IPAK Limited^ TATM Tata Textile Mills Limited
26 STYLERS Stylers International Limited^ THALL Thal Limited
27 SLGL Secure Logistics Group Limited^ TRIPF Tri-Pack Films Limited
28 TPLRF1 TPL REIT Fund I^ TSML Tandlianwala Sugar Mills Limited
29 - UDPL United Distributors Pakistan Limited
^ Newly Listed Companies in 2024

Product Management & Research Dept. | UAN: +9221 111-00-11-22 | E-mail: info@psx.com.pk | Web: psx.com.pk
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
1 AABS Al-Abbas Sugar Mills Ltd Compliant 22.60% 21.86% 1.17% 45.28% 74.12 543.90 Compliant1
2 AASM Al-Abid Silk * Compliant 51.01% 0.00% 0.00% 86.72% (174.34) 0.00 Non-Compliant
3 AATM Ali Asghar Textile Mills Limited * Compliant 1.12% 25.07% 52.71% 56.55% 19.08 2.07 Non-Compliant
4 ABOT Abbott Lab (Pakistan) Ltd Compliant 0.43% 1.37% 1.16% 72.70% (86.21) 0.00 Compliant
5 ACPL Attock Cement Pakistan Ltd * Compliant 23.85% 1.04% 0.26% 83.12% (133.74) 0.00 Compliant
6 ADAMS Adam Sugar Mills Ltd Compliant 12.44% 0.24% 0.44% 58.74% 82.66 39.89 Non-Compliant1
7 ADMM Artistic Denim Mills Ltd* Compliant 42.66% 0.00% 0.16% 76.62% (120.17) 0.00 Non-Compliant
8 AGHA Agha Steel Ind* Compliant 44.67% 0.00% 0.19% 77.94% (26.83) 0.00 Non-Compliant
9 AGIL Agriauto Industries Ltd * Compliant 15.51% 0.80% 0.42% 79.37% (43.17) 0.00 Compliant
10 AGL Agritech Limited Compliant 61.33% 6.52% 2.93% 87.71% (156.05) 0.00 Non-Compliant
11 AGP AGP Limited Compliant 12.22% 1.01% 0.41% 88.12% (43.90) 0.00 Compliant
12 AGSML Abdullah Shah Ghazi Sugar Mills Compliant 28.71% 0.00% 0.06% 96.89% (49.06) 0.00 Compliant1
13 AGTL Al-Ghazi Tractors Ltd Compliant 0.40% 0.00% 1.24% 54.06% (32.99) 0.00 Compliant
14 AHCL Arif Habib Corporation Ltd * Compliant 20.51% 13.08% 39.08% 67.64% 1.37 35.92 Non-Compliant
15 AHTM Ahmed Hassan Textile Mills Ltd. * Compliant 21.15% 0.01% 0.00% 82.18% (118.35) 0.00 Compliant
16 AIRLINK AirLink Communication Pvt Limited* Compliant 36.25% 6.94% 0.23% 49.99% (12.18) 0.00 Compliant
17 AKDHL AKD Hospitality Limited (AKD Capital) * Compliant 2.21% 0.00% 100.00% 54.34% 153.99 Non-Compliant
3.00
18 AKGL AL-Khair Gadoon Ltd * Compliant 11.91% 0.00% 0.30% 72.20% (17.67) 0.00 Compliant
19 ALNRS Al-Noor Sugar Mills Ltd. Compliant 8.82% 0.02% 0.12% 92.99% (447.37) 0.00 Compliant1
20 ALTN Altern Energy Ltd* Compliant 0.00% 2.10% 31.06% 38.80% 40.09 20.64 Non-Compliant
21 AMTEX Amtex Limited * Compliant 282.82% 0.00% 0.00% 79.97% (43.77) 0.00 Non-Compliant
22 ANL Azgard Nine Ltd * Compliant 31.33% 0.67% 1.40% 63.45% (5.88) 0.00 Compliant
23 ANSM Ansari Sugar Mills Ltd Compliant 65.99% 0.00% 0.00% 82.93% (101.11) 0.00 Non-Compliant1
24 ANTM AN Textile Mills Ltd. * Compliant 14.05% 0.00% 0.00% 82.57% (88.42) 0.00 Compliant
25 APL Attock Petroleum Ltd * Compliant 7.52% 32.75% 1.56% 52.81% (37.16) 0.00 Compliant
26 ARCTM Arctic Textile Mills Limited * Compliant 0.00% 0.00% 0.00% 73.59% (18.62) 0.00 Compliant
27 ARM Allied Rental Modaraba** Compliant N/A N/A N/A 77.74% (5.25) 0.00 Compliant
28 ARPL Archroma Pakistan Ltd Compliant 1.13% 0.00% 0.00% 42.69% (128.83) 0.00 Compliant1
29 ARUJ Aruj Industries Ltd. * Compliant 52.26% 0.00% 0.00% 54.82% (4.79) 0.00 Non-Compliant
30 ASC Al Shaheer Corporation Ltd * Compliant 5.32% 0.00% 0.00% 65.25% (0.99) 0.00 Compliant3
31 ASHT Ashfaq Textile Mills Ltd * Compliant 0.00% 0.07% 1.09% 82.37% (0.50) 0.00 Compliant
32 ASL Aisha Steel Ltd * Compliant 40.10% 0.00% 0.16% 72.87% (13.83) 0.00 Non-Compliant
33 ASTL Amreli Steels Ltd * Compliant 40.48% 0.00% 0.01% 79.88% (68.95) 0.00 Non-Compliant
34 ASTM Asim Textile Mills Ltd * Compliant 0.00% 0.00% 1.92% 77.68% (36.00) 0.00 Compliant
35 ATBA Atlas Battery Ltd * Compliant 36.51% 1.55% 0.11% 71.95% (199.65) 0.00 Compliant
36 ATLH Atlas Honda Ltd * Compliant 0.29% 12.42% 3.14% 34.45% (7.00) 0.00 Compliant1
37 ATRL Attock Refinery Ltd * Compliant 0.14% 13.02% 2.62% 55.92% 88.68 327.47 Compliant
38 AVN Avanceon Limited Compliant 5.93% 0.40% 0.06% 25.41% 17.26 57.34 Compliant
39 AWTX Allawasaya Textile Mills Ltd * Compliant 34.37% 0.39% 0.01% 78.03% (1668.05) 0.00 Compliant
40 BAFS Baba Farid Sugar Mills LTd Compliant 15.70% 0.00% 0.50% 90.09% (166.01) 0.00 Compliant1
41 BAPL Bawany Air Product Ltd * Compliant 7.28% 0.10% 0.00% 1.57% 5.47 10.11 Non-Compliant
42 BATA Bata (Pakistan) Ltd Compliant 22.46% 5.71% 2.15% 68.25% (742.43) 0.00 Compliant
43 BCL Bolan Castings Ltd * Compliant 17.50% 0.00% 0.04% 69.59% (28.70) 0.00 Compliant
44 BECO Beco Steel Limited (Ravi Textile) * Compliant 4.83% 0.00% 0.01% 93.00% (16.00) 0.00 Compliant
45 BELA Bela Automotives Limited * Compliant 47.77% 0.00% 0.00% 89.69% 19.37 0.00 Non-Compliant
46 BERG Berger Paints Pakistan Ltd* Compliant 3.46% 1.83% 0.16% 57.22% (29.58) 0.00 Compliant
47 BFMOD B.F. Modaraba ** Compliant N/A N/A N/A 86.04% 2.02 5.50 Compliant
48 BGL Balochistan Glass Ltd * Compliant 29.94% 0.00% 0.00% 98.93% (6.08) 0.00 Compliant
49 BHAT Bhanero Textile Mills Ltd * Compliant 37.43% 0.00% 0.23% 80.89% (3034.55) 0.00 Non-Compliant
50 BIFO Biafo Industries Ltd * Compliant 13.23% 6.32% 0.38% 74.94% 2.10 117.94 Compliant
51 BILF Bilal Fibres Ltd * Compliant 80.96% 0.00% 0.00% 97.35% (70.25) 0.00 Non-Compliant
52 BIPL BankIslami Pakistan Ltd.** Compliant N/A N/A N/A 90.95% (504.32) 0.00 Compliant
53 BML Bank Makramah Limited** Compliant N/A N/A N/A 80.27% (36.93) 0.00 Compliant
54 BNL Bunnys Limited* Compliant 31.50% 0.00% 0.18% 79.34% (18.76) 0.00 Compliant
55 BNWM Bannu Woollen Mills Ltd * Compliant 8.32% 0.00% 1.36% 86.82% (22.63) 0.00 Compliant
56 BPL Burshane LPG (Pakistan) Ltd * Compliant 20.31% 0.00% 0.04% 75.22% (26.35) 0.00 Compliant
57 BRRG B.R.R Guardian Limited Compliant N/A N/A N/A 96.71% (5.92) 0.00 Compliant
58 BTL Blessed Textiles Ltd. * Compliant 18.13% 23.31% 0.21% 79.35% (1266.39) 0.00 Compliant
59 BUXL Buxly Paints Ltd* Compliant 7.96% 0.00% 0.00% 47.82% (61.11) 0.00 Compliant
60 BWCL Bestway Cement Ltd * Compliant 31.46% 11.14% 3.12% 84.24% (137.80) 0.00 Compliant
61 BWHL Baluchistan Wheels Ltd* Compliant 1.11% 26.79% 4.71% 62.91% 45.19 195.49 Compliant
62 CCM Crescent Cotton Mills Ltd * Compliant 7.52% 1.14% 0.12% 73.31% (16.55) 0.00 Compliant
63 CEPB Century Paper & Board Mills * Compliant 13.91% 0.00% 0.06% 77.09% (22.55) 0.00 Compliant
64 CFL Crescent Fibres Ltd. * Compliant 15.67% 0.33% 0.33% 38.58% 127.20 113.19 Non-Compliant
65 CHAS Chashma Sugar Mills Ltd Compliant 28.87% 0.00% 0.54% 90.00% (547.93) 0.00 Compliant1
66 CHBL Chenab Limited * Compliant 86.57% 0.00% 0.00% 84.65% (80.64) 0.00 Non-Compliant
67 CHCC Cherat Cement Co. Ltd * Compliant 10.13% 2.42% 0.22% 93.16% (79.56) 0.00 Compliant
68 CJPL Crescent Jute Products * Compliant 0.00% 0.00% 89.86% 83.06% (8.25) 0.00 Non-Compliant
69 CLOV Clover Pakistan Ltd * Compliant 0.00% 0.00% 1.15% 27.62% 1.48 23.49 Compliant
70 CLVL Cordoba Logistics & Ventures Limited * Compliant 38.00% 21.76% 12.76% 63.61% 0.00 Non-Compliant
(1.87)
71 CNERGY Cnergyico PK Limited (Byco Petroleum) * Compliant 16.97% 0.00% 0.25% 96.91% 0.00 Compliant
(32.93)
72 COLG Colgate Palmolive (Pakistan)* Compliant 2.57% 36.53% 2.64% 44.45% 26.16 1582.00 Non-Compliant
73 CPHL Citi Pharma* Compliant 12.83% 13.83% 3.85% 62.00% (3.11) 0.00 Compliant
74 CPPL Cherat Packaging Ltd * Compliant 24.59% 5.31% 0.07% 72.27% (61.90) 0.00 Compliant
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
75 CRTM Crescent Textile Mills Ltd * Compliant 36.39% 0.02% 0.00% 81.59% (95.21) 0.00 Compliant
76 CSAP Crescent Steel & Allied Products * Compliant 13.92% 28.34% 9.18% 47.17% 31.17 47.63 Non-Compliant
77 CTM Colony Textile Mills Ltd * Compliant 35.47% 0.75% 0.09% 82.89% (28.20) 0.00 Compliant
78 CWSM Chakwal Spinning Mills Ltd * Compliant 20.46% 0.00% 100.00% 97.32% (5.94) 0.00 Non-Compliant
79 DAAG Data Agro Limited * Compliant 32.58% 0.00% 0.00% 66.87% (37.11) 0.00 Compliant
80 DADX Dadex Eternit Limited * Compliant 15.76% 0.00% 1.42% 25.45% 22.72 34.75 Compliant
81 DAWH Dawood Hercules Corporation Compliant 31.49% 17.72% 5.98% 54.08% (432.76) 0.00 Non-Compliant
82 DBCI Dadabhoy Cement * Compliant 0.00% 47.24% 100.00% 2.09% 2.41 3.12 Non-Compliant
83 DBSL Dadabhoy Sack Limited* Compliant 0.00% 0.00% 0.00% 100.00% (3.26) 0.00 Compliant
84 DCL Dewan Cement Ltd * Compliant 12.52% 0.00% 0.00% 94.49% (39.73) 0.00 Compliant
85 DCR Dolmen City REIT * Compliant 0.00% 0.00% 0.00% 97.93% 0.31 13.74 Compliant
86 DFML Dewan Farooque Motors Ltd * Compliant 182.60% 0.00% 68.76% 61.03% (38.44) 0.00 Non-Compliant
87 DFSM Dewan Farooq Spinning Mills Ltd * Compliant 29.59% 0.00% 0.00% 96.22% (16.66) 0.00 Compliant
88 DGKC D.G. Khan Cement Co. Ltd * Compliant 26.49% 10.12% 3.17% 81.85% (97.28) 0.00 Compliant
89 DIIL Diamond Industries * Compliant 25.86% 22.06% 0.00% 83.06% (21.96) 0.00 Compliant
90 DINT Din Textile Mills Ltd * Compliant 7.70% 0.00% 0.12% 70.68% (297.21) 0.00 Compliant
91 DLL Dawood Lawrencepur Limited Compliant 0.72% 0.04% 3.51% 1.01% 522.57 226.85 Non-Compliant
92 DMTX D.M. Textile Mills Ltd * Compliant 2.05% 0.16% 0.00% 95.41% (3.26) 0.00 Compliant
93 DNCC Dandot Cement Co. Ltd * Compliant 46.05% 0.00% 97.80% 96.01% (31.70) 0.00 Non-Compliant
94 DOL Descon Oxychem Ltd * Compliant 8.77% 5.22% 3.34% 85.82% (4.17) 0.00 Compliant
95 DSFL Dewan Salman Fiber * Compliant 452.30% 0.00% 0.00% 84.49% (60.26) 0.00 Non-Compliant
96 DSIL DS Industries Ltd * Compliant 0.00% 22.96% 38.17% 11.83% 1.83 3.07 Non-Compliant
97 DSL Dost Steel Ltd * Compliant 80.44% 0.00% 0.01% 97.84% (4.73) 0.00 Non-Compliant
98 DSML Dar-es-Salaam Textile Mills Ltd. * Compliant 0.00% 92.59% 23.50% 0.22% 4.72 10.05 Non-Compliant
99 DWAE Dewan Automomotive Engineering ltd * Compliant 505.99% 0.00% 1.45% 92.81% (77.34) 0.00 Non-Compliant

100 DWSM Dewan Sugar Mills Ltd Compliant 38.31% 0.00% 0.01% 89.77% (98.35) 0.00 Non-Compliant1
101 DWTM Dewan Textile Mills * Compliant 167.28% 0.00% 0.00% 99.55% (13.16) 0.00 Non-Compliant
102 DYNO Dynea Pakistan Ltd * Compliant 4.37% 0.00% 0.58% 42.63% 70.92 185.20 Compliant
103 ECOP EcoPack Ltd * Compliant 39.48% 0.00% 0.00% 78.47% (20.77) 0.00 Non-Compliant
104 EFERT Engro Fertilizers Ltd Compliant 4.69% 11.36% 1.41% 70.69% (49.27) 0.00 Compliant
105 ELCM Elahi Cotton Mills Ltd * Compliant 0.80% 0.24% 0.01% 75.90% (82.96) 0.00 Compliant
106 ELSM Ellcot Spinning Mills Ltd. * Compliant 46.21% 5.48% 0.20% 76.81% (400.92) 0.00 Non-Compliant
107 EMCO EMCO Industries Ltd * Compliant 29.53% 0.00% 0.00% 69.74% (28.63) 0.00 Compliant
108 ENGRO Engro Corporation Ltd # Compliant 32.01% 17.06% 5.20% 53.30% (854.52) 0.00 Compliant
109 EPCL Engro Polymer & Chemicals Compliant 11.75% 4.42% 0.82% 83.84% (52.11) 0.00 Compliant
110 EPQL Engro Powergen Qadirpur Ltd Compliant 17.76% 0.22% 8.37% 50.86% 8.48 31.92 Non-Compliant
111 EXIDE Exide Pakistan Ltd* Compliant 16.11% 0.00% 0.03% 68.08% (515.60) 0.00 Compliant1
112 FABL Faysal Bank Ltd.** Compliant N/A N/A N/A 93.74% (787.05) 0.00 Compliant
113 FANM Al-Noor Modaraba** Compliant N/A N/A N/A 48.46% 5.48 4.00 Compliant
114 FASM Faisal Spinning Mills Ltd. * Compliant 33.54% 0.00% 0.14% 79.86% (1053.85) 0.00 Compliant
115 FATIMA Fatima Fertilizer Co. Ltd Compliant 4.10% 9.97% 1.83% 70.03% (21.14) 0.00 Compliant
116 FCCL Fauji Cement Co. Ltd * Compliant 30.49% 0.17% 0.30% 94.67% (27.62) 0.00 Compliant
117 FCEPL Frieslandcampins Engro Foods Limited Compliant 31.07% 2.39% 0.15% 63.87% 0.00 Compliant
(16.41)
118 FECM First Elite Capital Modaraba ** Compliant N/A N/A N/A 94.57% (6.15) 0.00 Compliant
119 FECTC Fecto Cement Ltd * Compliant 27.01% 1.49% 0.13% 90.93% (57.77) 0.00 Compliant
120 FEM First Equity Modaraba** Compliant N/A N/A N/A 68.11% 2.87 3.76 Compliant
121 FEROZ Ferozsons Laboratories Ltd * Compliant 25.58% 2.73% 1.19% 73.87% (109.34) 0.00 Compliant
122 FFBL Fauji Fertilizer Bin Qasim Ltd Compliant 21.22% 15.35% 2.83% 49.25% (34.47) 0.00 Compliant
123 FFC Fauji Fertilizer Company Ltd Compliant 7.37% 38.55% 8.86% 48.01% (5.40) 0.00 Non-Compliant
124 FFL Fauji Foods Ltd Compliant 0.55% 6.17% 1.02% 70.54% 1.04 11.14 Compliant
125 FFLM First Fidelity Leasing Modaraba** Compliant N/A N/A N/A 92.41% (0.21) 0.00 Compliant
126 FHAM First Habib Modaraba** Compliant N/A N/A N/A 90.96% (72.88) 0.00 Compliant
127 FIBLM First IBL Modaraba** Compliant N/A N/A N/A 26.27% 6.78 2.63 Compliant
128 FIL Fateh Industries Limited * Compliant 0.00% 0.86% 0.00% 47.88% (62.28) 0.00 Compliant
129 FIMM First Imrooz Modaraba** Compliant N/A N/A N/A 56.04% (32.71) 0.00 Compliant
130 FLYNG Flying Cement Co. Ltd * Compliant 21.62% 0.00% 0.00% 95.56% (16.81) 0.00 Compliant
131 FML Feroze1888 Mills Ltd * Compliant 29.65% 0.00% 0.53% 75.18% (62.60) 0.00 Compliant
132 FNBM First National Bank Modaraba ** Compliant N/A N/A N/A 86.81% (13.98) 0.00 Compliant
133 FPJM First Punjab Modaraba ** Compliant N/A N/A N/A 76.41% (46.83) 0.00 Compliant3
134 FPRM First Paramount Modaraba** Compliant N/A N/A N/A 32.73% 4.40 9.12 Compliant
135 FRCL Frontier Ceramics Ltd* Compliant 17.03% 0.00% 0.00% 76.97% (45.65) 0.00 Compliant
136 FRSM Faran Sugar Mills Ltd Compliant 2.10% 23.09% 0.08% 62.25% (74.52) 0.00 Compliant1
137 FSWL Fateh Sports Wear Limited * Compliant 3.90% 0.00% 0.00% 7.50% 267.73 57.86 Non-Compliant
138 FTMM First Treet Manufacturing Modaraba ** Compliant N/A N/A N/A 34.14% 2.09 5.81 Compliant
139 FTSM First Tri-Star Modaraba** Compliant N/A N/A N/A 77.38% 0.78 12.30 Compliant
140 FUDLM First UDL Modaraba ** Compliant N/A N/A N/A 83.00% 1.47 6.48 Compliant
141 FZCM Fazal Cloth Mills Ltd* Compliant 40.62% 3.78% 0.02% 83.29% (1625.21) 0.00 Non-Compliant
142 GADT Gadoon Textile Mills Ltd* Compliant 42.17% 3.48% 0.78% 86.79% (1195.93) 0.00 Non-Compliant
Ghandhara Automobiles Limited
143 GAL Compliant 18.50% 0.00% 2.87% 75.93% 0.00 Compliant
(Ghandhara Nissan Ltd)* (34.05)
144 GAMON Gammon Pakistan Ltd* Compliant 0.00% 0.12% 0.14% 76.05% 0.45 12.95 Compliant
145 GATI Gatron (Industries) Ltd* Compliant 13.99% 0.00% 0.00% 81.88% (315.93) 0.00 Compliant
146 GATM Gul Ahmed Textile Mills Ltd * Compliant 38.96% 0.05% 0.12% 78.81% (93.28) 0.00 Non-Compliant
147 GCIL Ghani Chemical Industries Ltd* Compliant 12.81% 1.62% 7.01% 69.00% (2.66) 0.00 Non-Compliant
148 GEMPAPL Pak Agro Packaging Limited * Compliant 19.29% 0.00% 0.00% 81.58% (3.55) 0.00 Compliant
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
149 GEMSPNL Supernet Limited * ## Compliant 3.41% 0.00% 0.17% 15.91% 12.52 13.15 Compliant
Blue-Ex Limited(Universal Network Sys.
150 GEMBLUEX Compliant 14.73% 2.31% 1.68% 20.74% 22.03 62.00
Ltd) Non-Compliant3
151 GFIL Ghazi Fabrics International Ltd* Compliant 19.98% 0.00% 0.00% 77.79% (29.64) 0.00 Compliant
152 GGGL Ghani Global Glass Ltd* Compliant 14.11% 1.50% 3.38% 73.01% (4.79) 0.00 Compliant
153 GGL Ghani Global Holdings Limited * Compliant 17.40% 1.64% 4.26% 74.03% (6.60) 0.00 Compliant
154 GHGL Ghani Glass Ltd* Compliant 0.06% 0.00% 0.00% 78.97% (7.30) 0.00 Compliant
155 GHNI Ghandhara Industries Ltd* Compliant 11.70% 0.00% 0.81% 68.16% (81.79) 0.00 Compliant
156 GIL Goodluck Industries Ltd* Compliant 0.00% 0.00% 0.00% 86.47% (111.93) 0.00 Compliant
157 GLAXO GlaxoSmithKline Pakistan Compliant 0.40% 0.00% 0.52% 64.12% (8.71) 0.00 Compliant
158 GLOT Globe Textile Mills Limited * Compliant 0.00% 0.00% 0.00% 3.42% (0.10) 0.00 Non-Compliant
159 GLPL Gillette Pakistan Ltd* Compliant 33.60% 0.00% 5.22% 41.83% (3.79) 0.00 Non-Compliant
160 GOC GOC (Pakistan) Limited* Compliant 0.00% 3.11% 1.34% 68.43% 17.68 51.50 Compliant
161 GSPM Gulshan Spinning Mills Limited * Compliant 445.01% 25.53% 0.03% 0.86% (131.80) 0.00 Non-Compliant
162 GTYR General Tyre & Rubber Co.* Compliant 32.00% 0.00% 0.01% 73.15% (69.26) 0.00 Compliant
163 GUSM Gulistan Spinning Mills Limited * Compliant 1412.12% 0.00% 0.00% 42.00% (119.21) 0.00 Non-Compliant
164 GUTM Gulistan Textile Mills Limited * Compliant 616.07% 25.40% 0.00% 0.19% (479.35) 0.00 Non-Compliant
165 GVGL Ghani Value Glass Ltd* Compliant 0.00% 0.00% 0.35% 81.65% (7.05) 0.00 Compliant
166 GWLC Gharibwal Cement Ltd* Compliant 4.04% 3.47% 1.77% 88.93% (24.48) 0.00 Compliant
167 HABSM Habib Sugar Mills Ltd Compliant 6.62% 44.46% 2.50% 40.00% 28.21 64.16 Non-Compliant1
168 HAEL Hala Enterprises Ltd* Compliant 29.41% 0.00% 0.31% 20.45% 16.96 8.30 Non-Compliant
169 HAFL Hafiz Limited* Compliant 0.00% 0.38% 0.01% 97.24% 1.14 8.28 Compliant
Haleon Pakistan Limited (Glaxo
170 HALEON Compliant 1.27% 5.49% 1.57% 61.04% 0.00 Compliant
SmithKline Consumer Healthcare) (26.61)
171 HASCOL Hascol Petroleum Ltd * Compliant 127.79% 0.18% 0.09% 80.79% (1118.17) 0.00 Non-Compliant3
172 HATM Hamid Textile Mills Limited * Compliant 12.19% 0.00% 0.00% 92.24% (15.39) 0.00 Compliant
173 HCAR Honda Atlas Cars (Pakistan) Ltd * Compliant 1.84% 8.02% 6.70% 57.20% (50.51) 0.00 Non-Compliant1
174 HCL Hallmark Company Ltd. * Compliant 44.39% 0.00% 0.00% 3.71% 4.50 0.00 Non-Compliant
175 HINO Hinopak Motors Ltd * Compliant 3.87% 0.00% 0.20% 75.44% (73.15) 0.00 Compliant1
176 HINOON Highnoon Laboratories Ltd Compliant 5.37% 14.71% 0.45% 61.47% 18.37 504.56 Compliant
177 HMIM Haji Mohammad Ismail Mills Ltd * Compliant 0.00% 0.00% 100.00% 0.44% 0.66 8.75 Non-Compliant
178 HPL Hoechst Pakistan Limited (Sanofi Aventis) Compliant 0.11% 9.32% 0.71% 61.74% (52.04) 0.00 Compliant
179 HRPL Habib Rice Products Ltd.* Compliant 0.92% 9.41% 1.00% 68.25% (0.34) 0.00 Compliant
180 HTL Hi-Tech Lubricants Ltd * Compliant 32.85% 1.04% 0.23% 82.97% (34.15) 0.00 Compliant
181 HUBC Hub Power Company Ltd * # Compliant 31.66% 29.88% 5.92% 35.24% 21.04 88.33 Compliant
182 HUSI Hussain Industries Limited * Compliant 48.33% 0.00% 0.00% 88.26% (78.92) 0.00 Non-Compliant
183 HWQS Haseeb Waqas Sugar Mills Ltd Compliant 51.50% 0.00% 0.00% 99.26% (170.23) 0.00 Non-Compliant1
184 IBFL Ibrahim Fibres Ltd* Compliant 12.35% 0.00% 0.22% 85.00% (70.47) 0.00 Compliant
185 IBLHL IBL HealthCare Ltd* Compliant 8.24% 0.00% 0.00% 46.71% 6.23 36.22 Compliant
186 ICCI ICC Industries Limited * Compliant 12.90% 0.00% 0.27% 2.50% 147.02 1.90 Non-Compliant
187 ICL Ittehad Chemicals Ltd* Compliant 21.66% 0.00% 0.03% 74.88% (41.02) 0.00 Compliant
188 IDRT Idrees Textile Mills Ltd* Compliant 42.89% 2.66% 0.15% 79.55% (158.55) 0.00 Non-Compliant
189 IDSM Ideal Spinning Mills Ltd.* Compliant 20.62% 0.00% 0.00% 72.48% (185.20) 0.00 Compliant
190 IDYM Indus Dyeing & Mfg Co. Ltd.* Compliant 51.23% 0.07% 0.17% 76.23% (602.72) 0.00 Non-Compliant
191 ILP Interloop Limited* Compliant 32.62% 0.48% 0.31% 66.58% (31.81) 0.00 Compliant
192 IMAGE Image Pakistan* Compliant 6.81% 0.00% 0.03% 76.99% (6.06) 0.00 Compliant
193 INDU Indus Motor Company Ltd* Compliant 0.23% 28.19% 7.69% 57.36% (117.01) 0.00 Non-Compliant
194 INIL International Industries Ltd* Compliant 11.36% 2.57% 0.16% 83.12% (183.09) 0.00 Compliant
195 INKL International Knitwear Ltd* Compliant 29.50% 7.12% 0.06% 64.95% (8.71) 0.00 Compliant
196 ISIL Ismail Industries Ltd. Compliant 52.88% 5.74% 0.14% 70.86% (688.12) 0.00 Non-Compliant
197 ISL International Steels Ltd* Compliant 7.01% 0.00% 0.16% 89.93% (38.88) 0.00 Compliant
198 ITTEFAQ Ittefaq Iron Industries* Compliant 20.58% 0.00% 0.13% 53.79% 3.55 7.79 Compliant
199 JATM J. A. Textile Mills Ltd.* Compliant 0.00% 0.06% 2.78% 84.18% (15.34) 0.00 Compliant
200 JDMT Janana De Malucho Textile* Compliant 14.32% 0.00% 0.01% 96.72% (328.26) 0.00 Compliant
201 JDWS JDW Sugar Mills Ltd Compliant 26.27% 0.00% 0.43% 87.43% (552.80) 0.00 Compliant1
202 JKSM J.K. Spinning Mills Ltd.* Compliant 46.52% 0.02% 0.06% 73.42% (91.96) 0.00 Non-Compliant
203 JSML Jauharabad Sugar Mills Ltd. Compliant 7.48% 0.12% 0.07% 95.11% (81.26) 0.00 Compliant1
204 JUBS Jubilee Spinning & Weaving Mills Ltd * Compliant 7.18% 0.72% 0.62% 84.16% (2.41) 0.00 Compliant
205 JVDC Javedan Corporation Ltd* Compliant 16.93% 4.75% 2.30% 72.72% (10.58) 0.00 Compliant
206 KAPCO Kot Addu Power Company* Compliant 9.14% 25.69% 97.69% 45.89% 25.80 28.43 Non-Compliant
207 KCL Karam Ceramics Ltd.* Compliant 5.19% 0.00% 0.14% 95.33% (41.38) 0.00 Compliant
208 KEL K-Electric Ltd Compliant 25.92% 2.30% 0.74% 58.58% (12.50) 0.00 Compliant3
209 KHYT Khyber Textile Mills Ltd * Compliant 0.00% 0.00% 0.00% 99.26% (31.18) 0.00 Compliant
210 KML Kohinoor Mills Ltd.* Compliant 40.25% 1.30% 0.06% 73.46% (157.14) 0.00 Non-Compliant
211 KOHC Kohat Cement Co. Ltd* Compliant 6.26% 19.02% 3.47% 72.90% (13.43) 0.00 Compliant
212 KOHE Kohinoor Energy Ltd* Compliant 19.12% 27.45% 3.39% 40.47% 7.48 39.25 Compliant
213 KOHP Kohinoor Power Company* Compliant 0.00% 0.02% 8.62% 61.70% 3.79 6.62 Non-Compliant
214 KOHTM Kohat Textile Mills Limited* Compliant 34.02% 0.06% 0.01% 79.64% (24.85) 0.00 Compliant
215 KOIL Kohinoor Industries Ltd* Compliant 0.00% 10.25% 11.95% 82.82% 4.58 7.70 Non-Compliant
216 KOSM Kohinoor Spinning Mills Ltd* Compliant 59.84% 0.00% 0.00% 96.17% (8.51) 0.00 Non-Compliant
217 KPUS Khairpur Sugar Mills Ltd. Compliant 26.61% 0.25% 0.42% 86.58% (222.81) 0.00 Compliant1
218 KSBP K.S.B.Pumps Company Ltd Compliant 26.83% 0.00% 0.13% 42.23% (47.27) 0.00 Compliant
219 KSTM Khalid Siraj Textile Mills Ltd * Compliant 25.32% 0.00% 0.00% 97.80% (35.93) 0.00 Compliant
220 KTML Kohinoor Textile Mills Ltd* Compliant 26.91% 3.51% 1.15% 85.27% (193.61) 0.00 Compliant
221 LCI Lucky Core Industries Limited * Compliant 18.63% 0.00% 0.67% 83.65% (308.71) 0.00 Compliant
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
222 LEUL Leather-Up Limited* Compliant 0.66% 0.00% 0.24% 71.51% 0.03 10.65 Compliant
223 LMSM LandMark Spinning Industries * Compliant 1.09% 0.00% 0.00% 99.97% (20.93) 0.00 Compliant
224 LOADS Loads Limited* Compliant 41.24% 0.36% 0.05% 79.37% (14.08) 0.00 Non-Compliant
225 LOTCHEM Lotte Chemical Pakistan Ltd Compliant 6.25% 10.34% 0.81% 50.35% 0.05 26.99 Compliant
226 LPGL Leiner Pak Gelatine Ltd* Compliant 15.38% 0.00% 0.00% 92.83% (160.00) 0.00 Compliant
227 LPL Lalpir Power Ltd Compliant 15.46% 3.86% 9.20% 32.93% 22.59 22.58 Non-Compliant
228 LUCK Lucky Cement Ltd* Compliant 28.15% 0.27% 1.71% 78.18% (739.28) 0.00 Compliant
229 MACFL MACPAC Films Ltd* Compliant 13.81% 0.25% 0.38% 75.04% (20.53) 0.00 Compliant
230 MACTER Macter International Ltd * Compliant 2.98% 0.00% 0.27% 78.80% (31.87) 0.00 Compliant
231 MARI Mari Petroleum Co. Ltd* Compliant 0.26% 2.97% 1.69% 50.37% 331.44 2096.10 Compliant
232 MEBL Meezan Bank Ltd** Compliant N/A N/A N/A 90.43% (1418.15) 0.00 Compliant
233 MEHT Mahmood Textile Mills Ltd.* Compliant 56.48% 6.61% 0.32% 76.53% (947.70) 0.00 Non-Compliant
234 MERIT Merit Packaging Ltd* Compliant 28.89% 0.00% 0.00% 72.27% (10.32) 0.00 Compliant
235 META Meta Tech Health Limited* Compliant 243.16% 0.00% 0.00% 0.00% (0.28) 0.00 Non-Compliant
236 MFFL Mitchell's Fruit Farms Ltd* Compliant 30.72% 0.00% 0.02% 69.04% (39.25) 0.00 Compliant
237 MFL Matco Foods Ltd* Compliant 56.48% 0.00% 0.06% 78.78% (96.62) 0.00 Non-Compliant
238 MIRKS Mirpurkhas Sugar Mills Ltd. Compliant 36.84% 1.05% 0.11% 89.45% (177.70) 0.00 Compliant1
239 MLCF Maple Leaf Cement Factory* Compliant 16.97% 1.91% 0.13% 89.06% (31.83) 0.00 Compliant
240 MQTM Maqbool Textile Mills Ltd.* Compliant 39.32% 0.12% 0.02% 81.59% (233.84) 0.00 Non-Compliant
241 MRNS Mehran Sugar Mills Ltd Compliant 8.75% 4.91% 0.13% 85.01% (23.15) 0.00 Compliant1
242 MSCL Metropolitan Steel Corporation * Compliant 2.73% 0.88% 1.06% 90.12% 0.56 20.07 Compliant
243 MSOT Masood Textile Mills* Compliant 43.28% 0.00% 0.01% 65.10% (195.98) 0.00 Non-Compliant
244 MTL Millat Tractors Ltd* Compliant 15.07% 0.90% 0.49% 67.76% (58.10) 0.00 Compliant
245 MUBT Mubarak Textile Mills Ltd* Compliant 16.30% 0.00% 0.00% 49.31% 15.91 3.85 Non-Compliant
246 MUGHAL Mughal Iron & Steel Industries* Compliant 27.99% 4.79% 0.11% 70.08% (63.40) 0.00 Compliant
247 MWMP Mandviwala Mauser Plastic Industries * Compliant 67.52% 0.00% 0.00% 57.70% (9.00) 0.00 Non-Compliant
248 NAGC Nagina Cotton Mills Ltd.* Compliant 52.09% 3.46% 0.29% 77.30% (344.45) 0.00 Non-Compliant
249 NATF National Foods Ltd* Compliant 38.59% 0.10% 0.02% 83.07% (98.39) 0.00 Non-Compliant
250 NATM Nadeem Textile Mills Ltd.* Compliant 29.64% 1.91% 0.45% 63.45% (85.93) 0.00 Compliant
251 NCL Nishat (Chunian) Ltd* Compliant 61.53% 0.08% 0.04% 77.91% (169.49) 0.00 Non-Compliant
252 NCML Nazir Cotton Mills Ltd. * Compliant 3.58% 0.97% 0.45% 91.61% (8.30) 0.00 Compliant
253 NCPL Nishat Chunian Power Ltd * Compliant 2.07% 1.12% 15.15% 41.35% 39.93 27.97 Non-Compliant
254 NESTLE Nestle Pakistan Ltd Compliant 15.99% 0.00% 0.16% 70.73% (1293.30) 0.00 Compliant
255 NETSOL NetSol Technologies Ltd* ## Compliant 7.97% 0.00% 0.06% 12.80% 89.52 99.47 Compliant
256 NICL Nimir Industrial Chemicals Ltd * Compliant 63.90% 0.00% 0.00% 71.63% (147.95) 0.00 Non-Compliant
257 NML Nishat Mills Ltd* Compliant 30.18% 14.32% 1.97% 64.15% (57.81) 0.00 Compliant
258 NONS Noon Sugar Mills Ltd Compliant 25.16% 0.00% 0.02% 76.38% (159.27) 0.00 Compliant1
259 NPL Nishat Power Limited* Compliant 8.95% 14.55% 34.17% 32.33% 55.52 30.95 Non-Compliant
260 NRL National Refinery Ltd* Compliant 21.35% 0.00% 0.05% 68.52% (617.57) 0.00 Compliant
261 NRSL Nimir Resins Ltd* Compliant 31.30% 0.00% 0.00% 62.44% (4.82) 0.00 Compliant
262 NSRM National Silk & Rayon Mills * Compliant 8.34% 3.51% 0.01% 74.65% (7.41) 0.00 Compliant
263 OBOY Oilboy Energy Limited (Drekkar Kingsway Compliant 0.00% 0.00% 0.05% 37.07% 0.48 6.38 Compliant
264 OCTOPUS Octopus Digital Pvt Ltd. ## Compliant 0.09% 0.37% 0.29% 21.43% 11.91 56.38 Compliant
265 OGDC Oil & Gas Development Co. Ltd* ^ Compliant 0.00% 20.00% 10.68% 22.91% 194.94 112.45 Non-Compliant
266 OLPM OLP Modaraba (Orix Modaraba)** Compliant N/A N/A N/A 84.75% (104.89) 0.00 Compliant
267 OML Olympia Mills Ltd* Compliant 23.63% 4.75% 3.94% 87.31% (44.73) 0.00 Compliant
268 ORM Orient Rental Modaraba** Compliant N/A N/A N/A 66.47% (3.17) 0.00 Compliant
269 OTSU Otsuka Pakistan Ltd.* Compliant 45.24% 0.58% 1.15% 65.23% (75.47) 0.00 Non-Compliant
270 PABC Pakistan Aluminium Beverage Cans Ltd Compliant 28.11% 21.49% 1.95% 65.86% (9.68) 0.00 Compliant
271 PACE Pace (Pakistan) Ltd* Compliant 99.72% 0.00% 0.06% 62.27% (20.92) 0.00 Non-Compliant
272 PAEL Pak Elektron Ltd Compliant 22.94% 0.08% 0.00% 61.81% 0.45 22.58 Compliant
273 PAKD Pak DataCom Ltd.* ## Compliant 4.15% 5.81% 2.40% 10.46% 88.88 92.83 Compliant
274 PAKL Pak Leather Crafts Ltd * Compliant 372.53% 0.00% 0.00% 91.15% (124.23) 0.00 Non-Compliant
275 PAKOXY Pakistan Oxygen Limited Compliant 27.76% 0.00% 0.22% 80.16% (72.45) 0.00 Compliant
276 PASM Paramount Spinning Mills * Compliant 672.59% 0.00% 5.27% 19.72% (45.21) 0.00 Non-Compliant
277 PCAL Pakistan Cables Ltd* Compliant 43.06% 0.00% 0.07% 77.04% (218.77) 0.00 Non-Compliant
278 PHDL Pakistan Hotels Developers Ltd* Compliant 0.00% 0.00% 2.01% 0.04% 797.22 450.00 Non-Compliant
279 PIAA Pakistan International Airlines Corp. Ltd * Compliant 133.59% 0.00% 0.24% 80.28% (238.66) 0.00 Non-Compliant3
280 PIBTL Pakistan International Bulk Terminal Ltd* Compliant 28.22% 0.00% 0.34% 83.01% (5.31) 0.00 Compliant
281 PICT Pakistan International Container Terminal Compliant 0.00% 0.00% 1.20% 0.00% 16.35 49.06 Non-Compliant
282 PIM Popular Islamic Modaraba** Compliant N/A N/A N/A 76.51% (2.08) 0.00 Compliant
283 PIOC Pioneer Cement Ltd* Compliant 14.04% 0.09% 0.18% 95.94% (170.22) 0.00 Compliant
284 PKGP Pakgen Power Ltd Compliant 6.65% 22.81% 12.18% 21.54% 49.29 50.95 Non-Compliant
285 PKGS Packages Limited Compliant 33.19% 1.05% 0.46% 84.86% (1151.02) 0.00 Compliant
286 PMI First Prudential Modaraba ** Compliant N/A N/A N/A 86.20% (1.07) 0.00 Compliant
287 PMRS Premier Sugar Mills Ltd Compliant 30.84% 0.03% 0.15% 90.28% (4267.37) 0.00 Compliant1
288 PNSC Pakistan National Shipping Corporation* Compliant 0.15% 36.36% 12.08% 46.38% 271.01 264.49 Non-Compliant
289 POL Pakistan Oilfields Ltd* Compliant 0.00% 18.05% 17.31% 23.77% 111.77 421.94 Non-Compliant
290 POML Punjab Oil Mills Ltd.* Compliant 16.33% 0.00% 0.29% 65.32% (9.63) 0.00 Compliant
291 POWER Power Cement Ltd* Compliant 11.86% 5.30% 0.07% 79.45% (20.32) 0.00 Compliant
292 PPL Pakistan Petroleum Limited* ^ Compliant 0.00% 8.83% 3.57% 23.72% 147.64 115.03 Compliant
293 PPP Pakistan paper products Ltd.* Compliant 15.44% 0.00% 0.00% 80.42% (26.02) 0.00 Compliant
294 PPVC Pakistan PVC Ltd * Compliant 70.99% 0.29% 0.16% 95.66% (18.37) 0.00 Non-Compliant
295 PREMA At-Tahur Limited * Compliant 11.89% 0.00% 0.01% 84.07% (6.16) 0.00 Compliant
296 PRET Premium Textile Mills Ltd.* Compliant 47.44% 0.00% 0.00% 79.69% (2371.03) 0.00 Non-Compliant
297 PRL Pakistan Refinery Ltd* Compliant 23.75% 9.97% 0.80% 48.26% (42.60) 0.00 Compliant
298 PRWM Prosperity Weaving Mills Ltd.* Compliant 52.18% 3.26% 0.18% 72.66% (16.72) 0.00 Non-Compliant
299 PSEL Pakistan Services Ltd* Compliant 14.94% 2.11% 0.30% 73.39% (162.48) 0.00 Compliant
300 PSO Pakistan State Oil Co. Ltd* Compliant 34.98% 1.04% 0.38% 35.90% (374.98) 0.00 Compliant
301 PSX Pakistan Stock Exchange Ltd.* Compliant 2.77% 43.82% 36.68% 44.29% 5.78 10.99 Non-Compliant
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
302 PSYL Pakistan Synthetics Ltd.* Compliant 1.08% 0.00% 0.18% 86.74% (40.80) 0.00 Compliant
303 PTC Pakistan Telecommunication (PTCL) Compliant 65.16% 8.10% 6.62% 53.45% (75.22) 0.00 Non-Compliant
304 PTL Panther Tyres Limited* Compliant 34.38% 0.00% 0.03% 78.20% (54.18) 0.00 Compliant
305 QUET Quetta Textile Mills Ltd.* Compliant 27.20% 0.80% 0.12% 93.36% (777.49) 0.00 Compliant
306 QUICE Quice Food Industries Ltd * Compliant 0.00% 0.00% 0.27% 85.85% (7.49) 0.00 Compliant
307 RCML Reliance Cotton Spinning* Compliant 25.62% 1.02% 0.14% 57.11% (3.78) 0.00 Compliant
308 REDCO Redco Textiles Ltd * Compliant 28.84% 0.00% 0.90% 76.14% (39.44) 0.00 Compliant
309 REWM Reliance Weaving Mills * Compliant 55.55% 3.60% 0.00% 78.48% (637.73) 0.00 Non-Compliant
310 RMPL Rafhan Maize Products Compliant 12.95% 0.00% 1.30% 78.89% (4181.04) 0.00 Compliant
311 RPL Roshan Packages Ltd* Compliant 4.23% 0.00% 0.71% 74.08% (6.43) 0.00 Compliant
312 RUBY Ruby Textile Mills Ltd* Compliant 13.64% 0.00% 0.00% 96.47% (3.97) 0.00 Compliant
313 RUPL Rupali Polyester Ltd.* Compliant 24.30% 0.00% 0.08% 87.25% (123.68) 0.00 Compliant
314 SAIF Saif Textile Mills Ltd* Compliant 54.39% 0.11% 0.00% 85.38% (284.81) 0.00 Non-Compliant
315 SANE Salman Noman Enterprises Ltd * Compliant 98.20% 0.00% 0.00% 92.46% (254.41) 0.00 Non-Compliant
316 SANSM Sanghar Sugar Mills Ltd. Compliant 2.14% 0.00% 0.00% 91.85% (213.89) 0.00 Compliant1
317 SAPT Sapphire Textile Mills * Compliant 46.73% 3.20% 2.47% 72.87% (2726.75) 0.00 Non-Compliant
318 SARC Sardar Chemical Industries* Compliant 10.73% 0.00% 0.50% 39.57% 23.59 39.89 Compliant
319 SASML Sindh Abadgar's Sugar Mills Ltd. Compliant 3.86% 0.00% 0.25% 89.38% (132.66) 0.00 Compliant1
320 SAZEW Sazgar Engineering Works* Compliant 0.56% 0.00% 0.00% 57.12% (103.42) 0.00 Compliant
321 SCL Shield Corporation Ltd* Compliant 7.89% 0.00% 0.00% 90.79% (553.22) 0.00 Compliant
322 SEARL Searle Company Ltd* Compliant 7.38% 0.17% 0.06% 59.82% (9.25) 0.00 Compliant
323 SEL Sitara Energy Ltd. *** Compliant 35.96% 0.00% 0.00% 64.47% (60.14) 0.00 No Opinion
324 SEPL Security Papers Ltd* Compliant 0.00% 54.56% 11.09% 31.88% 76.64 134.27 Non-Compliant
325 SERT Service Textiles industries Ltd.* Compliant 2.83% 0.00% 0.00% 94.78% (27.31) 0.00 Compliant
326 SFL Sapphire Fibres Ltd.* Compliant 19.36% 8.33% 7.54% 63.73% 10.20 1699.63 Non-Compliant
327 SGABL SG.Allied Businesses Limited* Compliant 9.17% 0.00% 0.00% 97.71% (18.04) 0.00 Compliant
328 SGF Service Global Footwear Limited Compliant 25.97% 0.00% 3.32% 55.07% (19.34) 0.00 Compliant
329 SGPL SG Power Ltd. * Compliant 9.10% 0.00% 0.00% 56.56% 0.30 4.70 Compliant
330 SHCI Shaffi Chemical Industries Ltd. * Compliant 135.95% 0.00% 0.00% 27.07% (5.66) 0.00 Non-Compliant
331 SHCM Shadman Cotton Mills* Compliant 19.72% 3.99% 0.67% 80.89% (23.39) 0.00 Compliant
332 SHDT Shadab Textile Mills Ltd.* Compliant 26.87% 0.00% 0.07% 74.18% (30.68) 0.00 Compliant
333 SHEL Shell (Pakistan) Ltd Compliant 6.93% 0.00% 0.36% 78.58% (298.26) 0.00 Compliant
334 SHEZ Shezan International Ltd.* Compliant 34.91% 0.00% 0.01% 76.90% (174.23) 0.00 Compliant
335 SHFA Shifa International Hospitals* Compliant 5.13% 2.09% 0.24% 75.56% (28.44) 0.00 Compliant
336 SHJS Shahtaj Sugar Mills Ltd Compliant 30.81% 0.00% 0.08% 94.37% (222.29) 0.00 Compliant1
337 SHSML Shahmurad Sugar Mills Ltd Compliant 12.20% 0.00% 0.80% 69.93% (93.95) 0.00 Compliant1
338 SIEM Siemens (Pakistan) Engineering Compliant 10.54% 14.24% 0.14% 13.43% 311.75 669.00 Non-Compliant1
339 SINDM Sindh Modaraba** Compliant N/A N/A N/A 90.25% 2.63 8.30 Compliant
340 SITC Sitara Chemical Industries Ltd * Compliant 6.70% 0.00% 0.00% 80.36% (654.02) 0.00 Compliant
341 SKRS Sakrand Sugar Mills Ltd Compliant 33.02% 0.00% 0.00% 96.36% (67.31) 0.00 Compliant1
342 SLYT Sally Textile Mills * Compliant 91.84% 0.00% 0.00% 89.06% (212.27) 0.00 Non-Compliant
343 SMCPL Safe Mix Concrete Ltd * Compliant 11.49% 0.00% 0.21% 44.32% (0.44) 0.00 Compliant
344 SML Shakarganj Limited Compliant 4.88% 0.00% 0.05% 84.16% (89.59) 0.00 Compliant1
345 SNAI Sana Industries Ltd.* Compliant 21.19% 0.00% 0.01% 49.49% (42.88) 0.00 Compliant
346 SNGP Sui Northern Gas Pipelines Ltd ^ Compliant 26.40% 0.00% 2.02% 20.01% (404.39) 0.00 Compliant3
347 SPEL Synthetic Products Ltd* Compliant 13.96% 6.64% 0.62% 79.04% (3.42) 0.00 Compliant
348 SPL Sitara Peroxide Ltd Compliant 10.15% 0.00% 0.20% 77.90% (19.73) 0.00 Compliant3
349 SPWL Saif Power Ltd *** Compliant 31.77% 14.60% 0.16% 41.66% 3.56 19.25 No Opinion
350 SRVI Service Industries Ltd Compliant 57.43% 1.10% 0.12% 74.01% (930.22) 0.00 Non-Compliant
351 SSGC Sui Southern Gas Co. Ltd ^ Compliant 13.29% 0.02% 0.85% 20.89% (228.75) 0.00 Compliant3
352 SSML Saritow Spinning Mills Ltd.* Compliant 28.00% 0.00% 0.00% 79.76% (31.30) 0.00 Compliant
353 SSOM S.S. Oil Mills Ltd* Compliant 32.72% 0.00% 0.26% 75.62% (200.55) 0.00 Compliant
354 STCL Shabbir Tiles & Ceramics Ltd* Compliant 10.53% 10.60% 0.70% 79.13% (17.66) 0.00 Compliant
355 STJT Shahtaj Textile Ltd.* Compliant 31.34% 0.00% 0.50% 60.80% (141.90) 0.00 Compliant
356 STML Shams Textile Mills Ltd.* Compliant 16.11% 0.00% 0.00% 56.38% (65.18) 0.00 Compliant
357 STPL Siddiqsons Tin Plate Ltd* Compliant 39.48% 3.72% 0.56% 79.07% (10.30) 0.00 Non-Compliant
358 SUHJ Suhail Jute Mills Limited Compliant 6.47% 0.00% 0.27% 99.10% (189.58) 0.00 Compliant
359 SURC Suraj Cotton Mills Ltd.* Compliant 23.34% 4.46% 0.53% 75.84% (114.80) 0.00 Compliant
360 SUTM Sunrays Textile Mills Ltd.* Compliant 40.55% 0.30% 0.79% 69.56% (129.64) 0.00 Non-Compliant
361 SYM Symmetry Group Limited * Compliant 13.88% 6.64% 0.80% 33.45% 1.73 3.72 Compliant
362 SYS Systems Limited Compliant 11.43% 1.42% 0.44% 30.42% 58.09 423.56 Compliant
363 SZTM Shahzad textile Mills Ltd.* Compliant 18.77% 0.69% 0.07% 84.64% (86.30) 0.00 Compliant
364 TATM TATA Textile Mills Ltd.* Compliant 45.21% 6.67% 3.46% 77.10% (307.33) 0.00 Non-Compliant
365 TBL Treet Battery Limited. * Compliant 49.84% 0.00% 0.86% 86.67% (8.37) 0.00 Non-Compliant
366 TCORP Tariq Corporation Ltd Compliant 8.28% 0.29% 0.03% 89.70% (48.48) 0.00 Compliant1
367 TELE Telecard Limited* ## Compliant 10.98% 0.00% 0.11% 11.63% 11.18 7.97 Compliant
368 TGL Tariq Glass Industries Ltd* Compliant 20.05% 0.90% 0.15% 84.10% (34.70) 0.00 Compliant
369 THALL Thal Limited* Compliant 8.73% 33.46% 8.19% 54.59% 179.56 295.00 Non-Compliant
370 THCCL Thatta Cement Company* Compliant 5.79% 16.75% 2.67% 55.83% 7.74 18.14 Compliant
371 TICL Thal Industries Corp Compliant 13.83% 1.77% 0.36% 73.98% (179.25) 0.00 Compliant1
372 TOMCL The Organic Meat Company* Compliant 13.02% 0.00% 0.00% 49.97% 11.85 21.72 Compliant
373 TOWL Towellers Limited * Compliant 0.39% 0.00% 1.16% 65.14% 85.65 190.61 Compliant
374 TPL TPL Corporation* Compliant 32.68% 12.63% 23.52% 60.87% (34.39) 0.00 Non-Compliant
375 TPLP TPL Properties Ltd * Compliant 18.11% 5.15% 4.07% 78.34% (2.44) 0.00 Compliant
376 TPLT TPL Trakker Ltd * Compliant 22.96% 0.00% 2.52% 61.15% (12.42) 0.00 Compliant
377 TPLRF1 TPL REIT Fund I Compliant N/A N/A N/A N/A N/A N/A Compliant
378 TREET Treet Corporation Ltd* Compliant 32.17% 0.10% 0.12% 79.92% (72.82) 0.00 Compliant
379 TRG TRG Pakistan Ltd* Compliant 0.00% 99.95% 100.00% 0.00% 99.05 79.07 Non-Compliant
380 TRIPF Tri-Pack Films Ltd Compliant 40.83% 0.00% 0.40% 68.22% (346.90) 0.00 Non-Compliant
381 TRSM Trust Modaraba** Compliant N/A N/A N/A 86.99% (0.44) 0.00 Compliant
382 TSML Tandlianwala Sugar Mills Ltd Compliant 32.03% 0.00% 0.07% 70.89% 144.50 76.00 Non-Compliant1
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
383 TSPL Tri-Star Power Ltd.* Compliant 0.00% 34.86% 15.14% 4.18% 11.97 9.73 Non-Compliant
384 UBDL United Brands Limited* Compliant 6.32% 0.00% 0.37% 37.95% (6.53) 0.00 Compliant
385 UCAPM Unicap Modaraba** Compliant N/A N/A N/A 99.77% (0.28) 0.00 Compliant
386 UDPL United Distributors (Pakistan) Ltd* Compliant 0.00% 0.00% 6.49% 77.28% (11.95) 0.00 Non-Compliant
387 FCL Fast Cables Limited Compliant 16.03% 0.00% 0.23% 55.50% (12.40) 0.00
Compliant3
388 IPAK International Packaging Films Limited Compliant 9.80% 0.30% 0.15% 86.57% (17.69) 0.00 Compliant3
389 Stylers Stylers International Limited Compliant 0.46% 0.00% 0.37% 66.92% 1.61 47.46 Compliant3
390 SLGL Secure Logistics Group Limited Compliant 14.43% 8.81% 0.00% 84.45% (15.58) 0.00 Compliant3
391 UNITY Unity Foods Ltd* Compliant 28.79% 8.91% 0.82% 42.02% (14.44) 0.00 Compliant
392 UPFL Unilever Pakistan Foods Ltd. Compliant 3.24% 8.91% 3.82% 31.23% 935.60 22200.00 Compliant
393 WAHN Wah-Noble Chemicals Ltd* Compliant 1.84% 0.10% 0.31% 36.85% 113.13 195.97 Compliant
394 WAVES Waves Corporation Limited Compliant 28.82% 0.01% 0.01% 77.56% (20.58) 0.00 Compliant
395 WAVESAPPWaves Home Appliances Limited Compliant 36.06% 0.02% 0.08% 74.83% (19.89) 0.00 Compliant
396 WTL WorldCall Telecom Ltd Compliant 38.43% 0.30% 5.18% 63.14% (1.83) 0.00 Non-Compliant
397 YOUW Yousaf Weaving Mills Ltd* Compliant 40.64% 0.00% 0.00% 90.04% (7.95) 0.00 Non-Compliant
398 ZAHID Zahidjee Textile Mills Ltd.* Compliant 34.44% 0.40% 4.14% 71.40% (34.67) 0.00 Compliant
399 ZHCM Zahur Cotton Mills Limited * Compliant 0.00% 0.00% 0.00% 0.00% 4.17 0.06 Non-Compliant
400 ZIL ZIL Limited* Compliant 5.91% 1.27% 0.02% 58.83% (102.32) 0.00 Compliant
401 ZTL Zephyr Textiles Ltd.* Compliant 28.27% 3.74% 0.08% 75.82% (27.41) 0.00 Compliant
402 LSECL LSE Capital Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
403 786 786 Investments Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
404 ABL Allied Bank Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
405 AGIC Askari General insurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
406 AGLNCPS Agritech Non-Voting (Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
407 AHL Arif Habib Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
408 AICL Adamjee Insurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
409 AKBL Askari Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
410 AKDSL AKD Securituies Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
411 ALAC Askari Life Assurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
Adamjee Life Assurance Company
412 ALIFE Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
Limited
413 AMBL Apna Microfinance Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
414 AMSL Al-Mal Sec. & Services Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
415 ANLNV Azgard Nine (Non-Voting) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
416 ANLPS Azgard Nine (Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
417 ARPAK Arpak International investments Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
418 ASIC Asia Insurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
419 ASLCPS Aisha Steel (Convt Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
420 ASLPS Aisha Steel (Convt Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
421 ATIL Atlas insurance Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
422 BAFL Bank Alfalah Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
423 BAHL Bank Al Habib Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
424 BIIC Business & Industrial insurance Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
425 BOK Bank of Khyber Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
426 BOP Bank of Punjab Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
427 CASH CALCORP Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
428 CENI Century Insurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
429 CLCPS Chenab Limited (Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
430 CSIL Crescent Star insurance Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
431 CYAN Cyan Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
432 DEL Dawood Equities Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
433 EFGH EFG Hermes Pakistan Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
434 EFUG EFU General insurance Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
435 EFUL EFU Life Assurance Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
436 ENGL English Leasing Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
437 EPCLPS Engro Poly & Che Pre Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
438 ESBL Escorts Investment Bank Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
439 EWIC East West Insurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
440 FCEL First Capital Equities Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
441 FCIBL First Credit & investment Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
442 FCSC First Capital Securities Corp. Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
443 INMF Investec Mutual Fund Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
444 FDIBL First Dawood Investment Bank Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
445 FNEL First National Equities Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
446 GRR Globe Residency REIT Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
447 GRYL Grays Leasing Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
448 HBL Habib Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
449 HGFA HBL Growth Fund - (A) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
450 HICL Habib Insurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
451 HIFA HBL Investment Fund (A) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
452 HMB Habib Metropolitan Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
453 HUMNL Hum Network Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
454 ICIBL Invest Capital Investment Bank Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
455 IGIHL IGI Holdings Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
456 IGIL IGI Life Insurance Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
457 IML Imperial Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
458 JGICL Jubilee General insurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
459 JLICL Jubilee Life Insurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
460 JSBL JS Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
461 JSCL Jahangir Siddiqui & Co. Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
462 JSCLPSA Jah.Siddiqui (Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
463 JSGCL JS Global Capital Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
464 JSIL JS Investments Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
465 JVDCPS Javedan Corp Preference Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
466 KHTC Khyber Tobacco Company Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
467 LSEVL LSE Ventures ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
468 MCB MCB Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
469 MCBIM MCB Investment Management Limited Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
470 MDTL Media Times Ltd Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
471 MSOTPS Masood Textile Mills Preference Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
472 MUREB Murree Brewery Company Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
473 NBP National Bank of Pakistan Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
474 NEXT Next Capital Limited Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
475 OLPL OLP Financial Services private Limited Non Compliant N/A N/A N/A N/A N/A N/A NC by Nature
476 PAKRI Pakistan Reinsurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
477 PAKT Pak Tobacco Company Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
478 PASL Pervez Ahmed Securities Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
479 PELPS Pak Elektron Ltd. Preference Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
480 PGLC Pak- Gulf Leasing Company Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
481 PIAB P.I.A.C.L "B" Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
482 PICL Pak. Ind. & Comm. Leasing Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
483 PIL PICIC Insurance Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
484 PINL Premier Insurance Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
485 PKGI Pakistan General insurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
486 PMPK Philip Morris (Pakistan) Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
487 POWERPS Power Prefernce Share Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
488 PRIB Prudential investment Bank Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
489 PRIC Progressive insurance Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
490 PUDF Prudential Stocks Fund Limited Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
491 RICL Reliance Insurance Co Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
492 SBL Samba Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
493 SCBPL Standard Chartered Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
494 SHNI Shaheen Insurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
495 SIBL Security Investment Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
496 SICL Standard Insurance Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
497 SILK Silkbank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
498 SLCL Security Leasing Corporation Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
499 SLCPA Security Leasing Corp. (Pref) Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
500 SLL SME Leasing Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
501 SNBL Soneri Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
502 SPLC Saudi Pak Leasing Company Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
503 SSIC Silver Star Insurance Co. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
504 TPLI TPL Insurance Ltd Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
505 TRIBL Trust Investment Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
506 TSBL Trust Securities & Brokerage Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
507 TSMF Tri-Star Mutual Fund Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
508 UBL United Bank Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
509 UNIC United Insurance Co. of Pakistan Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
510 UVIC Universal Insurance Co. Ltd. Non-Compliant N/A N/A N/A N/A N/A N/A NC by Nature
511 AAL Agro Allianz Limited Compliant No Financial available therefore no opinion is drawn
512 ABSON Abson Industries Limited Compliant No Financial available therefore no opinion is drawn
513 ANNT Annoor Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
514 REGAL Regal Ceramics Limited Compliant No Financial available therefore no opinion is drawn
515 APOT Apollo Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
516 AZMT Azmat Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
Dadabhoy Construction Technology
517 DCTL Compliant No Financial available therefore no opinion is drawn
Limited
518 DKTM Dewan Khalid Textile Mills Compliant No Financial available therefore no opinion is drawn
519 DMTM Dewan Mushtaq Textile Mills Compliant No Financial available therefore no opinion is drawn
520 FAEL Fatima Enterprises Limited Compliant No Financial available therefore no opinion is drawn
521 FCONM First Constellation Modaraba Compliant No Financial available therefore no opinion is drawn
522 FIM First Investec Modaraba Compliant No Financial available therefore no opinion is drawn
523 FTHM Fateh Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
524 HADC Haydari Construction Compliant No Financial available therefore no opinion is drawn
525 HAJT Hajra Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
526 HIRAT Hira Textile Mills Ltd Compliant No Financial available therefore no opinion is drawn
527 HKKT Hakkim Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
528 HSPI Huffaz Seamless Pipe Ind. Compliant No Financial available therefore no opinion is drawn
529 KAKL Kaiser Arts & Krafts Limited Compliant No Financial available therefore no opinion is drawn
530 MFTM Mohd. Farooq Textile Mills Compliant No Financial available therefore no opinion is drawn
531 MOHE Mohib Exports Limited Compliant No Financial available therefore no opinion is drawn
532 NAFL National Fibres Limited Compliant No Financial available therefore no opinion is drawn
533 NINA Nina Industries Limited Compliant No Financial available therefore no opinion is drawn
534 NMFL Nirala MSR Foods Limited Compliant No Financial available therefore no opinion is drawn
535 PECO Pakistan Engineering Co. Ltd. Compliant No Financial available therefore no opinion is drawn
536 SCHT Schon Textiles Limited Compliant No Financial available therefore no opinion is drawn
537 SDOT Sadoon Textile Industries Limited Compliant No Financial available therefore no opinion is drawn
538 SFAT Safa Textiles Ltd Compliant No Financial available therefore no opinion is drawn
539 SURAJ Suraj Ghee Industries Limited Compliant No Financial available therefore no opinion is drawn
 Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
540 TAJT Taj Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
541 USMT Usman Textile Mills Limited Compliant No Financial available therefore no opinion is drawn
542 ZELP Zeal Pak Cement Factory Limited Compliant No Financial available therefore no opinion is drawn

REAL ESTATE INVESTMENT TRUSTS (REITS)

Illiquid
Debt Investme Income Share Price
Assets Net Liquid
Ratio nt Ratio Ratio as of Final Shariah
No. Ticker Company Name Objective Ratio Assets Ratio
(D/A < (NCInv/TA (NCInc/T December Status
(IA/TA => (NLA < P)
37%) < 33%) R < 5%) 29, 2023
25%)
1 GRR Globe Residency Reit Non-Compliant N/A N/A N/A N/A N/A N/A NC by nature
2 DCR Dolmen City REIT Compliant 0.00% 0.00% 0.00% 97.93% 0.31 13.74 Compliant
3 TPLRF1 TPL REIT Fund I Compliant N/A N/A N/A N/A N/A N/A Compliant

EXCHANGE TRADED FUNDS (ETFs)

1 ACIETF Alfalah Consumer Index (ETF) Non-Compliant
JS Momentum Factor Exchange
2 JSMFETF Non-Compliant
Traded Fund
3 MZNPETF Meezan Pakistan ETF Compliant
4 NBPGETF NBP Pakistan Growth ETF Non-Compliant
5 NITGETF NIT Pakistan Gateway ETF Non-Compliant
6 UBLPETF UBL Pakistan Enterprise ETF Non-Compliant
7 JSGBETF JS Global Banking Tradeable ETF Non-Compliant

NOTE: The above criteria of KMI Index is approved by Sharia’h Supervisory Board of KMI Index
NC = Non - Compliant
N/A = Not Applicable
* These are provisional rates for dividend purification, which are subject to final adjustment upon
announcement of respective companies' annual accounts for the year 2023/2024
** Only illiquid Assets to Total Assets and Net Liquid Asset ratios calculated of all Islamic Financial
Institutions
*** As breakup of Late Payment Interest is not given in financial therefore, SPWL and SEL is
classified as No Opinion

# Due to circular debt and high interest rate which resulting in higher delayed payment charges,
HUBC and ENGRO are slightly exceeding the threshold of Non compliant income ratio. Therefore,
exception is given over income ratio.

## As these are from service based sector, therefore their fixed assets are not significant in value
therefore, these are considered as Compliant and relaxation provided over Illiquid assets to Total
Assets ratio and Net Liquid Asset per share.

^ Due to the significant inrcease in circular debt / current economic situation, their receivables are
significantly increased which resulted in inflated liquid assets. Therefore, these are considered as
Compliant and relaxation is provided over Illiquid assets to Total Assets ratio and/or Net Liquid
Asset per share as per the guidance available in AAOIFI's Shariah standard no. 59, Sale of Debt.
1
Based on September-2023 accounts
3
As per last available annual / half-yearly accounts