The CEO of Persian Gulf Petrochemical Holding Co. (FARS) announced the one billion Euro investments in development projects of the company in 2015-16. Regarding to strategic plans, he also added, the company will reach its 100% capacity in 3 years. By emphasizing on current challenges he hoped the company would reach 80% capacity (20 Million tons production) in 2015. Persian Gulf holding has a nominal capacity of 22 Million tons. Last year, 35% of reduction in production was due to lack of raw materials and feed in all company’s subsidiaries. The company’s subsidiaries have increased from 15 to 60 companies, exporting 8 to 9 billion dollars annually. Having 11 percent of total market cap and diversity of activities in its subsidiaries is a privilege of Fars in Iran’s capital market.
Zagros Petrochemical Co. released its audited 12 months financial performance report for FY2014 (ending 20 Mar 2015). The company made 3,670 IRR return for each share in FY2014 which decreased by 24 percent compared with a year before. Although the company’s net sales increased by 21% compared with FY2013, the net income dropped by 28 percent due to 208% jump in cost of sales. Total cost and operating income also reduced respectively by 11 and 38 percent. The company’s share is experiencing positive and moderate trend at 16800 IRR. However, holding is not recommended if the 16800-16900 IRR resistance cannot be passed.
South Hormozgan Steel Co. (Hormoz) which was listed recently in IFB, adjusted its forecasted EPS for FY2015 positively from 1 to 46 IRR. With regard to this announcement the company’s FY2015 return decreased by 59 % compared with previous year. Due to Pellets global prices reduction, the company has cut its forecasted purchased rate from 145 to 128 US dollars. The dollar exchange rate is also considered 33,000 IRR. Furthermore, the domestic purchased rate is determined 23% of the price of Khuzestan steel billet. Based on the last forecasted report for FY2015, the company’s volume of export has reduced from 500,000 to 300,000 tons due to a drop in demands and steel prices lower than the domestic production cost.
TSE at Glance
TSE at Glance
Trades’ Summary
IFB at Glance
*Iran Fara Bourse is a regulated market for smaller industrial companies
IFB at Glance
Trading Halts & Delays
Trading Halts & Delays
Codal Release
*www.codal.ir is a comprehensive database of all listed companies regulated by SEO
Codal Release
Market Overview
The market looks totally baffled. Its seems there is no willing for investing in strong fundamental and more clear shares for long term prospective. Speculation is tending to be more profitable for investors.
DISCLAIMER: This report has been prepared and issued by Agah Brokerage Firm on the basis of publicly available information, internally developed data and other sources believed to be reliable. The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. Agah does not assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Any expressions of opinions are subject to change without notice.
To contact the reporters: Negar Moshirfatemi at fatemi@agahmail.com
