The Annual General Assembly of Shiraz Petrochemical Company (Public Joint Stock) was held on August 1, 2025 with the attendance of more than 88% of shareholders or their representatives. In this meeting, CEO Babak Pourkia explained the company’s performance during fiscal year 2024 and stated that during the past year, despite severe restrictions on the consumption of raw materials due to the imbalance in energy consumption in the country, the continuation of production was included in the company’s work plan. He said the company, taking advantage of the opportunity presented during the period of energy consumption restrictions, took action to carry out major repairs to operational units using the company’s experienced and specialized personnel.
Pourkia added despite all the challenges last year and the consecutive outages in the last 4 months of the year, the company was still able to achieve a 41% growth in net profit. He said the cost of production increased last year, but there was no corresponding increase in the company’s products. The gas outage caused a decline in both production and sales. Due to the energy imbalance, the company had a 20% decrease in production and a 15-16% decrease in nominal capacity. In the event of gas uncertainty and the realization of sales of lost products, the company’s earnings per share could have reached 7,165 rials with a growth of 36%.
He said in connection with the development of target markets, licenses have been obtained and the South American region has also been added to the company’s sales targets. The said the company has not been given us a license to build an ammonia unit at the moment, but the compnay has a good profit margin from the sale of nitric acid products. The company has development plans on the agenda. Regarding Crystal Melamine, it is a 35 percent shareholder in the Crystal Melamine field and this plan will probably be implemented near Kermanshah Petrochemical. The company had export sales in July and was able to sell its urea product for $435.
Porkia also outlined the plans and challenges facing the company to continue production and operations in the fiscal year 2025.
The report of the inspector and statutory auditor regarding the financial statements for the fiscal year ending March 30, 2025 was read and approved by a majority of the attendees. Also, with the approval of the shareholders, more than 90 percent of the net profit of the aforementioned fiscal year and an amount of 4,984 rials per share were approved. Finally, the members of the board of directors, on behalf of the company’s shareholders, appreciated and thanked the efforts of the personnel, managers, and esteemed members of the board of directors and wished the company success in its future path.
