PACRA Maintains Entity Ratings of Jahangir Siddiqui & Co. Limited

The ratings of Jahangir Siddiqui & Co. Ltd. (JSCL or “the Company”) reflect its prominent standing as a well-diversified investment holding company with a strong presence in Pakistan’s financial services sector. JSCL serves as the flagship holding company of the JS Group, overseeing a diversified investment structure through both direct and indirect ownership. JSCL maintains a well-diversified and strategically structured investment portfolio, encompassing significant positions across the financial services spectrum—including Conventional and Islamic Banking, Asset Management, Securities Brokerage, Investment Banking and Insurance. In addition, the Company retains full ownership of subsidiaries operating in petroleum, infrastructure development, and telecommunications sector. This extensive sectoral exposure underpins JSCL’s long-term growth trajectory and reinforces its risk-mitigation framework. JSCL maintains 100% ownership of Energy Infrastructure Holding (Private) Limited (EIHPL), JS Infocom Limited. This integrated and multi-tiered corporate structure reflects JSCL’s strategic focus on sectoral diversification and operational synergy across both domestic and international fronts.
JSCL benefits from its long-term investment and capital allocation strategy, enabling it to navigate macroeconomic challenges while generating sustainable value for its shareholders. The consolidated asset base of PKR 1.378 trillion enhances the Company's financial strength, investment capacity, and credibility, enabling it to absorb risks and pursue strategic growth. Dividend income from strategic and short-term investments remains a vital revenue stream, with additional support from interest income. As of Dec24, the Company reported total investment income of PKR 1,090mln, of which a substantial 87% (PKR 955 mln) was derived from dividend income, reflecting a strong reliance on stable equity returns. A strong equity base of PKR 31bln and no exposure to borrowings, is reflecting its strong financial management. JSCL continues to uphold best practices in corporate governance and risk management, supported by an experienced board, dedicated committees, and independent oversight. It also actively pursues Environmental, Social, and Governance goals, including initiatives promoting diversity, financial inclusion, and community impact. Supported by its group entities and a disciplined capital structure, JSCL is well-positioned to capitalize on strategic growth opportunities and reinforce its position as a leading investment holding company in Pakistan.
The ratings are dependent on the management's ability to execute its envisaged strategy of growth and expansion amidst the prevailing tough environment. Timely materialization of these initiatives into sustainable ventures is critical. Strong performance of subsidiaries, stable dividends, and effective management of financial profile and liquidity remains important.

About the Entity
Jahangir Siddiqui & Co. Ltd. ('JSCL' or 'the Company'), a successor to the brokerage business started in the early seventies by Mr. Jahangir Siddiqui, was established in 1991 and is listed on the Pakistan Stock Exchange (PSX). JSCL, JS Group’s flagship holding company, has a portfolio of investments categorized into a) core investments (subsidiaries), b) strategic investments and c) trading investments. Investments in the financial segment dominate the portfolio with a significant concentration in the banking and insurance sectors. Other investments are in the energy, petroleum, and infrastructure sectors. Justice (R) Agha Rafiq Ahmed Khan is Chairman of the BoD, while, Mr. Asad Nasir heads the Company as CEO.