Rating Details	Rating Type	BFR
	Dissemination Date	Current (25-Sep-24 )	Previous (25-Sep-23)
	Action	Maintain	Upgrade
	Rating	BFR 2	BFR 2
	Outlook	Stable	Stable
	Rating Watch	-	-

Rating Rationale	Factor	Comment
	Ownership	OCM is entirely owned by Optimus Holdings (Pvt.) Limited, with Mr. Jawad Amjad holding a 74% stake and Mr. Yasin owning 26% of the shares in Optimus Holdings (Pvt.) Limited. Prior to Mr. Asif Ali Qure
	Governance	After the resignation of Mr. Asif Ali Qureshi, the Company has board structure comprising of only one executive director. Inclusion of independent representation may be considered to strengthen the go
	Management and Client Services	The company has a lean organization structure with a qualified and experienced management team. Client services are considered good with online sales department and research department. OCM affiliatio
	Internal Controls and Regulatory Compilance	The rating takes into account an adequate internal control framework with the presence of the compliance and Internal audit department. The Company has formulated policies for an effective control fra
	Business Sustainability	OCM has performed well during FY24. The company reported a net profit of ~PKR 17mln during FY24. The profit stems from brokerage income which stood at ~PKR 98mln at the end of Jun'24 (SPLY: ~PKR 70mln
	Financial Sustainability	OCM does not engage in proprietary investments, thus limiting the impact of market risk. A zero leveraged capital structure is present; the Company has an adequate equity base of ~PKR 318mln at end Ju

Key Rating Drivers

Optimus Capital Management (Pvt.) Limited ('OCM' or the 'Company') has performed inline with the market during FY24. OCM mainly earned the commission on its brokerage income, amounting to ~PKR 98mln for FY24 (FY23: ~PKR 70mln). Going forward, it is imperative from a ratings perspective to maintain topline growth, revenue diversification, and profitability. Maintenance and improvement in market share remains important. The inclusion of independent representation may be considered to strengthen the governance framework. Moreover, retention of key management personnel and further separation of management roles remain critical.

About the Entity
	Legal Structure	Private Limited
	Year of Establishment	18-Mar-04
	Type of License	Trading and Self-clearing
	Majority Ownership	Optimus Holdings (Pvt.) Limited

Regulatory Disclosures	Analyst	Applicable Criteria	Related Research
	Hassaan Ahmad Hassaan.Ahmad@pacra.com +92-42-35869504 www.pacra.com	Assessment Framework | Broker Fiduciary Rating | Jan-24	Sector Study | Brokerage & Securities | Jan-24

Disclaimer

This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA. The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.