Based on cement association reports, the request for a price increase has been submitted to the government. The capacity of Iran’s cement production is around 82 Million a year. Last year (ending 20 Mar 2015) the production and sale of 67 Million tons was recorded. Currently the cost of production has increased by 20 percent. At the present time the EXW price of cement is 1000 IRR per ton which is requested by the cement association to increase by 17 percent.
Azar Refractories Co. announced its 2015-16 forecasted EPS, 168% higher than year before. The company predicted 534 IRR for its 2015 EPS, while, it’s forecasted EPS for 2014 was 199 IRR. In 2015 company’s budget the sale income, cost of sale, gross return, operating income and net income increased by 24, 21, 54, 38 and 168 percent respectively compared with a year before. Higher return form selling investments is announced as the main reason for this improvement.
Salemeen Co. adjusted its forecasted EPS for both FY2014-15 and FY2015-16. The company decreased its forecasted EPS for FY2014 by 35 percent from 233 to 152 IRR. Reduction in the sales rate and the production due to market rescission is announced as the reason for this negative adjustment. Additionally, the company’s income from investments has decreased due to a drop in last year Mellat bank’s share price. However, the forecasted EPS for 2015-16 has been increased from 236 to 298 IRR. The company has predicted to hold its Mellat stake up to the bank’s annual general meeting which will be hold in June 2015. The company has estimated 18,585 IRR mn from the Bank’s cash dividend, while no timing or price are considered for the sale of Mellat stake.
TSE at Glance
IFB at Glance
Trading Halts & Delays
By getting closer to the time of releasing company’s 4Q2014 reports, the market is entering to an uncertainty phase and since there is still two months remain until the next nuclear deadline and the annual general meeting season the market is following a fluctuated trend. Getting stable at current prices can be lead to a short bullish trend.
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