PACRA Maintains the Broker Management Rating of Optimus Capital Management (Pvt.) Limited

Optimus Capital Management (Pvt.) Limited ('OCM' or the 'Company') primarily focuses on Equity brokerage services while advisory services and block trades services are also provided. The KSE-100 Index has witnessed a significant surge in investor interest, repeatedly touching historic highs and, for the first time, breaching the 125k-point mark in FY25. Despite this rally, the market’s P/E ratio remains relatively low, indicating room for further upside. A notable catalyst has been the reduction in the policy rate at the start of FY25, which prompted a shift in investor preference from fixed-income instruments to equities, fueling fresh buying momentum. This environment has created a favorable backdrop for the brokerage industry, with higher trading volumes, increased retail participation, and enhanced transaction-based revenues. While FY25 has been a strong year for the sector, sustaining investor confidence beyond FY25 will hinge on political stability, macroeconomic resilience, and the continuation of market-friendly policies. OCM operates as a wholly-owned subsidiary of Optimus Holdings (Pvt.) Limited. On April 30, 2025, OCM acquired Alfalah Securities through a share purchase agreement of PKR 313 million, Alfalah Securities, however will retain a 4.41% stake for regulatory continuity. The Company’s governance structure currently features a compact Board of Directors, led by two executive members: Mr. Syed Ayaz Ahmad and Mr. Yasin Iqbal Kodvani, both seasoned professionals with over 17 years of combined expertise in Pakistan’s capital markets ecosystem, including specialized proficiency in macroeconomic research and institutional portfolio strategy. Mr. Jawad, as an experienced professional and shareholder, provides important insight that supports decision-making and the company’s growth. To align with governance benchmarks, OCM acknowledges the strategic imperative to augment board composition through the inclusion of independent non-executive directors, thereby enhancing oversight rigor and stakeholder confidence. OCM’s streamlined organizational architecture is supported by a strong client franchise and enterprise-grade technological infrastructure, enabling seamless trade execution and real-time risk management. The Company’s dedicated investment research division delivers alpha-generating insights, underpinning its value proposition to institutional and retail clientele. As of Jun'25, the Company reported brokerage commission income of ~PKR 170mln in FY25 (FY24: ~PKR 98mln), reflecting a YoY growth of ~73%. At end FY25, the Liquid Capital Balance (LCB) of the Company stood at ~PKR 83mln. The Company has an equity base of ~PKR 318mln at end-Jun'25.
From a ratings perspective, retention and induction of key management personnel remain central to the company’s management assessment. Sustaining topline growth, revenue diversification, and profitability, along with realizing anticipated synergies from OCM’s acquisition of Alfalah Securities, and strengthening market share and governance through independent representation will support management effectiveness.

About the Entity
Optimus Capital Management (Pvt.) Limited ('OCM') is a PSX-licensed brokerage firm regulated by the Securities & Exchange Commission of Pakistan (SECP). Originally incorporated in 2004 as Millennium Capital Management (Pvt.) Limited, the Company was rebranded to OCM in 2011. It operates as a wholly-owned subsidiary of Optimus Holdings (Pvt.) Limited, with ownership split between Mr. Jawad Amjad (74%) and Mr. Yasin Iqbal Kodvani (26%). OCM’s board comprises two executive directors: Mr. Syed Ayaz Ahmed and Mr. Yasin Iqbal Kodvani, who bring 10 and 7 years of financial markets expertise, respectively. The firm is well-positioned as a trusted player in Pakistan’s capital markets, leveraging its regulatory compliance, experienced leadership, and strong governance framework.